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Full-Text Articles in Law

The New Global Financial Regulatory Order: Can Macroprudential Regulation Prevent Another Global Financial Disaster?, Behzad Gohari, Karen E. Woody Jul 2019

The New Global Financial Regulatory Order: Can Macroprudential Regulation Prevent Another Global Financial Disaster?, Behzad Gohari, Karen E. Woody

Karen Woody

This Article posits that the success of macroprudential regulation will depend on four factors. First, the economic philosophy of the central banker in charge of the domestic institution with jurisdiction over macroprudential regulation will prove crucial in the implementation of adopted regulation. If, like Chairman Greenspan, the banker is averse to the exercise of the Central Bank's regulatory oversight authority, then no amount or volume of policy or regulation will prevent or mitigate systemic risks and the accompanying shocks. Second, a sufficiently deep level of international cooperation is required to mitigate regulatory arbitrage, without being so broad that the ensuing …


After The Fall: Financial Crisis And The International Order, Robert B. Ahdieh Jun 2018

After The Fall: Financial Crisis And The International Order, Robert B. Ahdieh

Robert B. Ahdieh

Recent years have challenged the international order to a degree not seen since World War II — and perhaps the Great Depression. As the U.S. housing crisis metastasized into a financial and economic crisis of grave proportions, and spread to nearly every corner of the globe, the strength of our international institutions — the International Monetary Fund, the World Trade Organization, the Group of Twenty, the Basel Committee on Banking Supervision, and others — was tested as never before. Likewise tested, were the limits of our national commitment to those institutions, to our international obligations, and to global engagement more …


Shareholder Wealth Maximization As Means To An End, Robert P. Bartlett, Iii Aug 2016

Shareholder Wealth Maximization As Means To An End, Robert P. Bartlett, Iii

Robert Bartlett

In several recent cases, the Delaware Chancery Court has emphasized that where a conflict of interest exists between holders of a company’s common stock and holders of its preferred stock, the standard of conduct for directors requires that they strive to maximize the value of the corporation for the benefit of its common stockholders rather than for its preferred stockholders. This article interrogates this view of directors’ fiduciary duties from the perspective of incomplete contracting theory. Building on the seminal work of Sanford Grossman and Oliver Hart, incomplete contracting theory examines the critical role of corporate control rights for addressing …


So Now Who Is Special?: Business Model Shifts Among Firms That Borrow To Lend, José Gabilondo Aug 2016

So Now Who Is Special?: Business Model Shifts Among Firms That Borrow To Lend, José Gabilondo

José Gabilondo

No abstract provided.


Shareholder Wealth Maximization As Means To An End, Robert P. Bartlett, Iii Jan 2015

Shareholder Wealth Maximization As Means To An End, Robert P. Bartlett, Iii

Seattle University Law Review

In several recent cases, the Delaware Chancery Court has emphasized that where a conflict of interest exists between holders of a company’s common stock and holders of its preferred stock, the standard of conduct for directors requires that they strive to maximize the value of the corporation for the benefit of its common stockholders rather than for its preferred stockholders. This article interrogates this view of directors’ fiduciary duties from the perspective of incomplete contracting theory. Building on the seminal work of Sanford Grossman and Oliver Hart, incomplete contracting theory examines the critical role of corporate control rights for addressing …


The New Global Financial Regulatory Order: Can Macroprudential Regulation Prevent Another Global Financial Disaster?, Behzad Gohari, Karen E. Woody Jan 2015

The New Global Financial Regulatory Order: Can Macroprudential Regulation Prevent Another Global Financial Disaster?, Behzad Gohari, Karen E. Woody

Scholarly Articles

This Article posits that the success of macroprudential regulation will depend on four factors. First, the economic philosophy of the central banker in charge of the domestic institution with jurisdiction over macroprudential regulation will prove crucial in the implementation of adopted regulation. If, like Chairman Greenspan, the banker is averse to the exercise of the Central Bank's regulatory oversight authority, then no amount or volume of policy or regulation will prevent or mitigate systemic risks and the accompanying shocks. Second, a sufficiently deep level of international cooperation is required to mitigate regulatory arbitrage, without being so broad that the ensuing …


Putting The 'Financial Stability' In Financial Stability Oversight Council, Hilary Allen Jan 2015

Putting The 'Financial Stability' In Financial Stability Oversight Council, Hilary Allen

Articles in Law Reviews & Other Academic Journals

For all the ink that has been spilled on the topic of financial regulation since the financial crisis of 2007-2008, there has been little examination of the competing normative goals of financial regulation. Should the financial system be treated as an end in itself such that the efficiency of that system is the primary goal? Or should financial regulation instead treat the financial system as a means to the end of broader economic growth? This Article argues for the latter approach, and stakes out the controversial normative position that financial stability, rather than efficiency, should be the paramount focus of …


The Regulation Of U.S. Money Market Funds: Lessons From Europe, Latoya C. Brown Jan 2013

The Regulation Of U.S. Money Market Funds: Lessons From Europe, Latoya C. Brown

Latoya C. Brown, Esq.

The recent financial crisis challenged long held perceptions of money market funds (“MMFs”) as stable and highly liquid instruments. Regulators in the US and in Europe now seek to impose additional rules on MMFs to avoid another significant failure as happened to the Reserve Fund. In the US, the debate is drawing even more media attention as question of which regulatory body - such as the Securities and Exchange Commission, the Treasury Department, and the Financial Stability Oversight Council – should lead the way has taken interesting twists and turns. This paper examines primary reform options being proposed in the …


Credit Suisse V. Billing: The Limited Impact On Application Of Antitrust Laws In Federally Regulated Industries Following The 2008 Financial Crisis And Beyond, Jessica A. Rebarber Jan 2011

Credit Suisse V. Billing: The Limited Impact On Application Of Antitrust Laws In Federally Regulated Industries Following The 2008 Financial Crisis And Beyond, Jessica A. Rebarber

Journal of Business & Technology Law

No abstract provided.


After The Fall: Financial Crisis And The International Order, Robert B. Ahdieh Oct 2010

After The Fall: Financial Crisis And The International Order, Robert B. Ahdieh

Faculty Scholarship

Recent years have challenged the international order to a degree not seen since World War II — and perhaps the Great Depression. As the U.S. housing crisis metastasized into a financial and economic crisis of grave proportions, and spread to nearly every corner of the globe, the strength of our international institutions — the International Monetary Fund, the World Trade Organization, the Group of Twenty, the Basel Committee on Banking Supervision, and others — was tested as never before. Likewise tested, were the limits of our national commitment to those institutions, to our international obligations, and to global engagement more …


The Subprime Meltdown: Causes, Consequences, And Solutions Jan 2009

The Subprime Meltdown: Causes, Consequences, And Solutions

Journal of Business & Technology Law

No abstract provided.


Why Did Anyone Listen To The Rating Agencies After Enron?, Claire A. Hill Jan 2009

Why Did Anyone Listen To The Rating Agencies After Enron?, Claire A. Hill

Journal of Business & Technology Law

No abstract provided.


So Now Who Is Special?: Business Model Shifts Among Firms That Borrow To Lend, José Gabilondo Jan 2009

So Now Who Is Special?: Business Model Shifts Among Firms That Borrow To Lend, José Gabilondo

Journal of Business & Technology Law

No abstract provided.


Rating Agencies And Reputational Risk, David Reiss Jan 2009

Rating Agencies And Reputational Risk, David Reiss

Journal of Business & Technology Law

No abstract provided.


The Legacy Of Deregulation And The Financial Crisis: Linkages Between Deregulation In Labor Markets, Housing Finance Markets, And The Broader Financial Markets, Damon Silvers, Heather Slavkin Jan 2009

The Legacy Of Deregulation And The Financial Crisis: Linkages Between Deregulation In Labor Markets, Housing Finance Markets, And The Broader Financial Markets, Damon Silvers, Heather Slavkin

Journal of Business & Technology Law

No abstract provided.


Reflections On State Regulation: A Lesson Of The Economic Turmoil Of 2007-2009 , Ralph S. Tyler, Karen Stakem Hornig Jan 2009

Reflections On State Regulation: A Lesson Of The Economic Turmoil Of 2007-2009 , Ralph S. Tyler, Karen Stakem Hornig

Journal of Business & Technology Law

No abstract provided.