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Articles 31 - 37 of 37
Full-Text Articles in Business
When The Government Is The Controlling Shareholder, Marcel Kahan, Edward B. Rock
When The Government Is The Controlling Shareholder, Marcel Kahan, Edward B. Rock
All Faculty Scholarship
As a result of the 2008 bailouts, the United States Government is now the controlling shareholder in AIG, Citigroup, GM, GMAC, Fannie Mae and Freddie Mac. Corporate law provides a complex and comprehensive set of standards of conduct to protect non-controlling shareholders from controlling shareholders who have goals other than maximizing firm value. In this article, we analyze the extent to which these existing corporate law structures of accountability apply when the government is the controlling shareholder, and the extent to which federal “public law” structures substitute for displaced state “private law” norms. We show that the Delaware restrictions on …
Making Sense Of The New Financial Deal, David A. Skeel Jr.
Making Sense Of The New Financial Deal, David A. Skeel Jr.
All Faculty Scholarship
In this Essay, I assess the enactment and implications of the Dodd-Frank Act, Congress’s response to the 2008 financial crisis. To set the stage, I begin by very briefly reviewing the causes of the crisis. I then argue that the legislation has two very clear objectives. The first is to limit the risk of the shadow banking system by more carefully regulating the key instruments and institutions of contemporary finance. The second objective is to limit the damage in the event one of these giant institutions fails. While the new regulation of the instruments of contemporary finance—including clearing and exchange …
The New Financial Deal: Understanding The Dodd-Frank Act And Its (Unintended) Consequences, David A. Skeel Jr.
The New Financial Deal: Understanding The Dodd-Frank Act And Its (Unintended) Consequences, David A. Skeel Jr.
All Faculty Scholarship
Contrary to rumors that the Dodd-Frank Act is an incoherent mess, its 2,319 pages have two very clear objectives: limiting the risk of the shadow banking system by more carefully regulating derivatives and large financial institutions; and limiting the damage caused by a financial institution’s failure. The new legislation also has a theme: government partnership with the largest Wall Street banks. The vision emerged almost by accident from the Bear Stearns and AIG bailouts of 2008 and the commandeering of the bankruptcy process to rescue Chrysler and GM in 2009. Its implications for derivatives regulation could prove beneficial: Dodd-Frank will …
Insurance In Sociolegal Research, Tom Baker
Insurance In Sociolegal Research, Tom Baker
All Faculty Scholarship
Insurance has a long history in sociolegal research, most prominently as a window on accident compensation and related tort law in action. Recent work has extended that research, with the result that tort law in action may be the best mapped of any legal field outside criminal law. Sociological research has begun to explore insurance as a form of governance, with effects in many legal fields and across the economy. This essay reviews developments in both bodies of work. Part one examines the relationship between liability insurance and tort law in action using the metaphors of window and frame. Part …
Assuming The Risk: Tort Law, Policy, And Politics On The Slippery Slopes, Eric Feldman, Alison I. Stein
Assuming The Risk: Tort Law, Policy, And Politics On The Slippery Slopes, Eric Feldman, Alison I. Stein
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Prominent jurists and legal scholars have long been critical of the doctrine of the assumption of risk, arguing that it is logically flawed and has sown confusion in the courts. This article takes a fresh look at the assumption of risk by focusing on legal conflicts over ski accidents in three ski-intensive states—Vermont, Colorado, and California. It argues that the tort doctrine of the assumption of risk remains vital, and highlights the way in which powerful political and economic actors with links to the ski industry have lobbied aggressively for state laws that codify the assumption of risk. The result …
On Insider Trading, Markets, And "Negative" Property Rights In Information, Zohar Goshen, Gideon Parchomovsky
On Insider Trading, Markets, And "Negative" Property Rights In Information, Zohar Goshen, Gideon Parchomovsky
All Faculty Scholarship
No abstract provided.
Is Equal Access The Prescription For Equity?, Victor Sidel, Dorothy E. Roberts, Jennifer Dohrn, Kathy Anastos, Nitza Milagros Escalera, Peter Holland, Sylvia Kleinman, Sylvia Law, Jack O'Sullivan, Robert Padgug, Dennis Rivera, Beth Weitzman
Is Equal Access The Prescription For Equity?, Victor Sidel, Dorothy E. Roberts, Jennifer Dohrn, Kathy Anastos, Nitza Milagros Escalera, Peter Holland, Sylvia Kleinman, Sylvia Law, Jack O'Sullivan, Robert Padgug, Dennis Rivera, Beth Weitzman
All Faculty Scholarship
No abstract provided.