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Full-Text Articles in Business
"Because That's Where The Money Is": A Theory Of Corporate Legal Compliance, William Bradford
"Because That's Where The Money Is": A Theory Of Corporate Legal Compliance, William Bradford
william bradford
Upon his capture in 1934, the legendary bank robber Willie Sutton was asked by FBI agents, Why do you rob banks, Willie? Sutton, who believed the question to be rhetorical, replied, dryly, Because that's where the money is. In other words, Sutton understood his interrogator to be inquiring as to why he robbed banks rather than, say, homes, or gas stations, or church offering plates. Had he understood the query as intended - i.e., what was it about Willie Sutton the impelled Willie Sutton to crime when many others, struggling to survive the Great Depression, were not? - Sutton could …
Restoring The Natural Law: Copyright As Labor And Possession, Alfred C. Yen
Restoring The Natural Law: Copyright As Labor And Possession, Alfred C. Yen
Alfred C. Yen
In this Article, Professor Yen explores the problems associated with viewing copyright solely as a tool for achieving economic efficiency and advocates for the restoration of natural law to copyright jurisprudence. The Article demonstrates that economics has not been solely responsible for copyright’s development and basic structure, but has rather developed along lines suggested by neutral law, despite modern copyright jurisprudence. The Article considers the consequences of extinguishing copyright’s natural law facets in favor of the blind pursuit of efficiency and concludes by exploring the implications of restoring natural law thinking to copyright jurisprudence.
Evaluating Imf Crisis Prevention As A Matter Of Global Justice, Frank J. Garcia
Evaluating Imf Crisis Prevention As A Matter Of Global Justice, Frank J. Garcia
Frank J. Garcia
No abstract provided.
No More Abuse: The Dodd-Frank And Consumer Financial Protection Act's "Abusive" Standard, Tiffany S. Lee
No More Abuse: The Dodd-Frank And Consumer Financial Protection Act's "Abusive" Standard, Tiffany S. Lee
Tiffany S Lee
The Dodd-Frank Wall Street Reform and Consumer Financial Protection Act creates the new Bureau of Consumer Financial Protection. This consumer watchdog will be responsible for the most powerful consumer protections in American history. Under section 1031(d) of the Act, the Bureau may ban acts and practices that are unfair, deceptive, or abusive. While the unfair and deceptive standards have existed for some time, “abusive” is a relatively new legal standard with limited jurisprudential history. Thus, ironically, critics assert that the inclusion of the abusive standard is itself an abuse of legislative power. This Article asserts that despite some criticism to …
Credit Derivative Destruction And Mortgage-Backed Mayhem: The End Of An Era Of Deregulation, Matt S. Klapper
Credit Derivative Destruction And Mortgage-Backed Mayhem: The End Of An Era Of Deregulation, Matt S. Klapper
Matt S Klapper
Abstract: The absence of regulation in mortgage-backed securities and over-the-counter credit derivatives markets was instrumental in fomenting the worst financial crisis since the Great Depression—referred to in this paper as the Great Panic. The antecedents of the Great Panic of 2008 are numerous. Rather than provide an exhaustive compendium of the causes of the Great Panic, the primary focus of this essay is on mortgage-backed securities, credit derivatives and the absence of regulatory oversight. This paper argues for greater transparency in these opaque securities markets as a means of reducing systemic risk and improving regulatory oversight. Mortgage-backed securities (MBS), particularly …
Chinese Reverse Mergers, Accounting Regimes, And The Rule Of Law In China, Benjamin A. Templin
Chinese Reverse Mergers, Accounting Regimes, And The Rule Of Law In China, Benjamin A. Templin
Benjamin A. Templin
In 2010, federal regulators and politicians became increasingly concerned over the accounting practices of Chinese companies that trade on U.S. stock exchanges. In particular, the Securities and Exchange Commission (“SEC”) targeted companies that went public through a process called the reverse merger. The instances of fraud became so widespread, regulators and commentators coined the term Chinese Reverse Merger (“CRM”) in order to describe a sector where investors assume the risk of accounting irregularities. Although CRMs must comply with international accounting standards, a weak rule of law in China has resulted in poor implementation and enforcement of its accounting regime. U.S. …
Capture In Financial Regulation" Can We Channel It Toward The Common Good?, Lawrence G. Baxter
Capture In Financial Regulation" Can We Channel It Toward The Common Good?, Lawrence G. Baxter
Lawrence G. Baxter
“Regulatory capture” is central to regulatory analysis yet is a troublesome concept. It is difficult to prove and sometimes seems refuted by outcomes unfavorable to powerful interests. Nevertheless, the process of bank regulation and supervision fosters a closeness between regulator and regulated that would seem to be conducive to “capture” or at least to fostering undue sympathy by regulators for the companies they oversee. The influence of very large financial institutions has also become so great that financial regulation appears to have become excessively distorted in favor of these entities and to the detriment of many other legitimate interests, including …