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Articles 1 - 16 of 16
Full-Text Articles in Law
The New Global Financial Regulatory Order: Can Macroprudential Regulation Prevent Another Global Financial Disaster?, Behzad Gohari, Karen E. Woody
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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.