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Full-Text Articles in Law
New Jersey’S Model Response To Predatory Lending, David J. Reiss
New Jersey’S Model Response To Predatory Lending, David J. Reiss
ExpressO
As widespread media coverage has documented, predatory home lending practices have become rampant throughout the country and, notably, among low-and moderate-income and African American communities in New Jersey. Our article analyzes this emerging problem as a sometimes devastating side effect of the rapid increase in American home ownership, an otherwise almost completely desirable phenomenon.
Because predatory lending has been so difficult to define, states have struggled to regulate it. New Jersey, building on the work of a few other leading states, has drafted what many consider to be the new standard for predatory lending legislation, the Home Ownership Security Act. …
The Rational Exuberance Of Structuring Venture Capital Startups, Victor Fleischer
The Rational Exuberance Of Structuring Venture Capital Startups, Victor Fleischer
ExpressO
This Article takes the bursting of the dot com bubble as an opportunity to reevaluate the tax structure of venture capital startups. By organizing startups as corporations rather than as partnerships, investors and entrepreneurs seem to leave money on the table by failing to fully use tax losses -- especially since the vast majority of startups fail. Conventional wisdom attributes the lack of attention paid to losses to a "gambler's mentality" or optimism bias. I argue here that the use of the corporate form is, in fact, rational, or at least that there is a method to the madness.
I …