Law Commons^™

Note: City Of Oakland V. Wells Fargo Co.: Examining The Proximate Cause Standard Under The Fair Housing Act, Ava Lau-Silveira

Golden Gate University Law Review

The Financial Services Modernization Act of 1999 partially deregulated the financial industry under the premise of helping “everyone attain the American dream of home ownership.” In 1999, the “Fannie Mae” made subprime mortgage loans readily accessible to those who normally would not qualify. People in Oakland, who “used to find it difficult to obtain mortgages,” were suddenly able to obtain mortgage loans, but with subprime terms, which started with low monthly payments, but would increase based on changes in the market interest rates. By 2008, subprime borrowers began defaulting on their loans at an unprecedented rate.

During the 2008 mortgage …

Wells Fargo V. City Of Oakland: A Matter Of Proximate Cause, Shawna Doughman

Golden Gate University Law Review

President Lyndon B. Johnson saw passage of the Fair Housing Act (“FHA”) to be a fitting tribute to the Reverend Dr. Martin Luther King, Jr., who had just been assassinated. The United States was in turmoil, much as it is today, with cities burning and people divided. The FHA was first introduced by Democratic senator Walter Mondale. The lobbying efforts of Republican senator Edward Brooke, the first Black senator to be elected by popular vote, and Democratic senator Edward Kennedy finally brought this legislation to fruition as Title VIII of the Civil Rights Act of 1968. Senator Mondale remarked, “in …

The Fallout Of Too Big For Trial: Advocating Control Person Liability, Tudor Jones

Golden Gate University Law Review

The Subprime Mortgage Crisis of 2008 (Subprime Crisis or Crisis) caused an unprecedented worldwide recession. Between 2007 and 2010, the global financial services sector lost 325,000 jobs. In the United States, consumer household net worth decreased by $11 trillion. Meanwhile, C-level executives (hereafter, executives or corporate officers) from sixteen of the firms most closely associated with the Subprime Crisis were eligible to receive golden parachute payments approaching $1 billion if their firms’ failures had resulted in their terminations. Because of the government bailout program, that money would have been indirectly funded by United States taxpayers.

The Subprime Crisis presented the …

The Place Of Treaties In International Investment, Eustace Chikere Azubuike

Annual Survey of International & Comparative Law

This paper is divided into seven parts. Part 1 traces the history of foreign investment treaties and provides the factors that led to the emergence of the current investment regime. Part 2 discusses the significance of treaties in the vexed question of whether or not there is a hierarchy of international law sources. Part 3 examines treaty-making in the current international investment regime – visiting the argument about whether or not the provisions of investment treaties have ripened into customary international law, highlighting the dominance of bilateral investment treaties over multilateral investment treaties, offering explanation for the near absence of …

Maya V. Centex: Potential Liabilities For Developers Related To Speculative Injuries, Alexander Cheung

Golden Gate University Law Review

The Ninth Circuit’s decision in Maya v. Centex addresses the impacts of the sub-prime mortgage crisis on fiscally responsible homeowners. Maya is the first appellate decision to potentially permit homeowners to assert claims against developers for injuries related to market-wide decline in property values. In Maya, the Ninth Circuit decided only the narrow question of whether plaintiff-homeowners have constitutional standing to pursue claims against defendant-developers for injuries that were allegedly caused by the defendants’ high-risk marketing and financing behaviors. Although the Ninth Circuit did not resolve the plaintiffs’ claims, it held that the plaintiffs have constitutional standing to assert …

The New Lex Mercatoria, Francesco Galgano

Annual Survey of International & Comparative Law

We live in a post-industrial era. We learn this from sociologists who demonstrate it by showing the index of the number of industrial employees is lower than that of service employees, thus, a transition from an industrial to a post-industrial era. The United States was the first to pass this point in 1956, while Italy passed it in 1982. Post-industrial society is not just a society of automation. The prefix "post" implies other aspects as well. Besides an industrial society there is also a financial society. What is new is not only how the goods are produced (with machines controlled …

Newly Registered Securities And Accountants' Liability To Third Party Investors Under The Federal Securities Law, Timothy J. Murphy

Golden Gate University Law Review

No abstract provided.

Consumer Credit Reporting: The California Experience, Eugene R. Oreck

Golden Gate University Law Review

No abstract provided.