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Full-Text Articles in Law
Are Illinois Courts Still Champions Of Fiduciary Duties?, Charles W. Murdock, Michael Huiras
Are Illinois Courts Still Champions Of Fiduciary Duties?, Charles W. Murdock, Michael Huiras
Loyola University Chicago Law Journal
Illinois courts have departed from the corporate-law jurisprudence that traditionally served as a champion of fiduciary duties. Historically, Illinois courts have consistently protected minority shareholders and punished directors and those in control for engaging in unfaithful, abusive, and deceitful behavior. In recent years, however, the Illinois Supreme Court has taken a technical approach to fiduciary duties, resulting in wrongdoers getting away with unconscionable conduct. First, this Article will demonstrate why Illinois has historically been characterized as a “shareholder” state by comparing the Illinois and Delaware corporate statutes and examining Illinois courts’ favorable fiduciary duty jurisprudence. In the latter half of …
Privileged Access To Financial Innovation, Cary Martin Shelby
Privileged Access To Financial Innovation, Cary Martin Shelby
Loyola University Chicago Law Journal
Access to private funds is limited to an elite class of investors—wealthy individuals and large institutions. Individuals of more modest means—“retail investors”—face more limited investment choices; generally they can only invest in mutual funds. Despite this inequitable division, the current regulatory climate will lead to an even further expansion of the private fund industry. This Article argues that this loosening regulatory climate could lead to a talent drain amongst registered funds, could narrow the investment choices available to retail investors, and could deepen the already troubling income gap between wealthy and average earners. With respect to a possible talent drain, …
Behavioral Economics And Investor Protection: Keynote Address, Daniel Kahneman
Behavioral Economics And Investor Protection: Keynote Address, Daniel Kahneman
Loyola University Chicago Law Journal
No abstract provided.
Behavioral Science And Scienter In Class Action Securities Fraud Litigation, Ann Morales Olazábal
Behavioral Science And Scienter In Class Action Securities Fraud Litigation, Ann Morales Olazábal
Loyola University Chicago Law Journal
No abstract provided.
Foreword: Behavioral Econimis And Investor Protection, Michael J. Kaufman
Foreword: Behavioral Econimis And Investor Protection, Michael J. Kaufman
Loyola University Chicago Law Journal
No abstract provided.
Building On Kahneman's Insights In The Development Of Behavioral Finance, Hersh Shefrin
Building On Kahneman's Insights In The Development Of Behavioral Finance, Hersh Shefrin
Loyola University Chicago Law Journal
No abstract provided.
A Behavioral View Of Investor Protection, Thomas S. Ulen
A Behavioral View Of Investor Protection, Thomas S. Ulen
Loyola University Chicago Law Journal
No abstract provided.
Conjoining "Recklessness" In Securities Fraud Cases To Moral Culpability, Jed S. Rakoff
Conjoining "Recklessness" In Securities Fraud Cases To Moral Culpability, Jed S. Rakoff
Loyola University Chicago Law Journal
No abstract provided.
A New Philosophy For Financial Stability Regulation, Hilary J. Allen
A New Philosophy For Financial Stability Regulation, Hilary J. Allen
Loyola University Chicago Law Journal
The financial crisis of 2007–2008 revealed many inadequacies in the pre-crisis approach to financial stability regulation. In the United States, Congress responded by enacting the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Act calls for government agencies to make numerous rules regulating activities that have the potential to harm financial stability, but there has been no real effort to rethink how these rules should be assessed. The cost-benefit analysis standard used to evaluate financial stability regulation prior to the crisis persists today, and both the courts and Congress have sought to further entrench that standard. However, cost-benefit analysis …
Behavioral Economics And Investor Protection: Reasonable Investors, Efficient Markets, Barbara Black
Behavioral Economics And Investor Protection: Reasonable Investors, Efficient Markets, Barbara Black
Loyola University Chicago Law Journal
No abstract provided.
Behavioral Finance Before Kahneman, Richard A. Posner
Behavioral Finance Before Kahneman, Richard A. Posner
Loyola University Chicago Law Journal
No abstract provided.
What Kahneman Means For Lawyers: Some Reflections On Thinking, Fast And Slow, Charles W. Murdock, Barry Sullivan
What Kahneman Means For Lawyers: Some Reflections On Thinking, Fast And Slow, Charles W. Murdock, Barry Sullivan
Loyola University Chicago Law Journal
No abstract provided.
The Dangers Of Missing The Forest: The Harm Caused By Verifone Holdings In A Tellabs World, Carol V. Gilden, Michael B. Eisenkraft, Josh Segal
The Dangers Of Missing The Forest: The Harm Caused By Verifone Holdings In A Tellabs World, Carol V. Gilden, Michael B. Eisenkraft, Josh Segal
Loyola University Chicago Law Journal
No abstract provided.
Daniel Kahneman's Influence On Legal Theory, Russell Korobkin
Daniel Kahneman's Influence On Legal Theory, Russell Korobkin
Loyola University Chicago Law Journal
No abstract provided.
Rewiring The Dna Of Securities Fraud Litigation: Amgen'S Missed Opportunity, Geoffrey Rapp
Rewiring The Dna Of Securities Fraud Litigation: Amgen'S Missed Opportunity, Geoffrey Rapp
Loyola University Chicago Law Journal
No abstract provided.
Behavioral Economics Applied: Loss Causation, Robert A. Prentice
Behavioral Economics Applied: Loss Causation, Robert A. Prentice
Loyola University Chicago Law Journal
Current securities fraud doctrine applying section 10(b) and Rule 10b-5 set a high bar for civil damages plaintiffs who must plead and prove both loss causation and transaction causation in order to prevail. Such a strict standard is not demanded by the law, given that the purpose of the Securities Act of 1933 and Securities Exchange Act of 1934 was to provide more protection for investors than had the common law of fraud. Nonetheless, the courts, especially the Supreme Court in Dura Pharmaceuticals v. Broudo, have chosen to impose this additional requirement.
This Article examines the behavioral psychology literature, …
Derivatives: A Twenty-First Century Understanding, Timothy E. Lynch
Derivatives: A Twenty-First Century Understanding, Timothy E. Lynch
Loyola University Chicago Law Journal
Derivatives are commonly defined as some variation of the following: financial instruments whose value is derived from the performance of a secondary source such as an underlying bond, commodity, or index. This definition is both over-inclusive and under-inclusive. Thus, not surprisingly, even many policy makers, regulators, and legal analysts misunderstand them. It is important for interested parties such as policy makers to understand derivatives because the types and uses of derivatives have exploded in the last few decades and because these financial instruments can provide both social benefits and cause social harms. This Article presents a framework for understanding modern …
What Use Is The Judiciary In A Financial Crisis?, Richard D. Cudahy
What Use Is The Judiciary In A Financial Crisis?, Richard D. Cudahy
Loyola University Chicago Law Journal
No abstract provided.
Why Not Tell The Truth?: Deceptive Practices And The Economic Meltdown, Charles W. Murdock
Why Not Tell The Truth?: Deceptive Practices And The Economic Meltdown, Charles W. Murdock
Loyola University Chicago Law Journal
No abstract provided.
Contracting For Financial Privacy: The Rights Of Banks And Customers Under The Reauthorized Patriot Act, Aditi A. Prabhu
Contracting For Financial Privacy: The Rights Of Banks And Customers Under The Reauthorized Patriot Act, Aditi A. Prabhu
Loyola University Chicago Law Journal
The 2001 Patriot Act chipped away financial privacy protections by allowing law enforcement authorities easier access to bank customer records. Under the Patriot Act, federal authorities may access customer records by issuing formal subpoena-like requests under the Foreign Intelligence Surveillance Act ("FISA") or informal national security letters ("NSLs") to banks while prohibiting notice to any affected customers. However, the 2006 revisions to the Patriot Act permit banks to challenge FISA requests and NSLs in federal court before releasing customer records. While the Act does not require banks to make these challenges on behalf of their customers, this Article will argue …
Justice And The Administrative State: The Fdic And The Superior Bank Failure, Christian A. Johnson
Justice And The Administrative State: The Fdic And The Superior Bank Failure, Christian A. Johnson
Loyola University Chicago Law Journal
No abstract provided.
Wild Card Statutes, Parity, And National Banks - The Renascence Of State Banking Powers, Christian A. Johnson
Wild Card Statutes, Parity, And National Banks - The Renascence Of State Banking Powers, Christian A. Johnson
Loyola University Chicago Law Journal
No abstract provided.
The Swan Song Of A Dishonest Duck: A Prototype For Analyzing Converage Under The Bankers Blanket Bond, Davis J. Howard
The Swan Song Of A Dishonest Duck: A Prototype For Analyzing Converage Under The Bankers Blanket Bond, Davis J. Howard
Loyola University Chicago Law Journal
No abstract provided.
The New Illinois Mortgage Foreclosure Law And Installment Sales Contracts, Victor Grimm
The New Illinois Mortgage Foreclosure Law And Installment Sales Contracts, Victor Grimm
Loyola University Chicago Law Journal
No abstract provided.
Midwest Regional Interstate Banking, Ronald B. Given
Midwest Regional Interstate Banking, Ronald B. Given
Loyola University Chicago Law Journal
No abstract provided.
Interpreting The 1981 Amendments To The Illinois Bank Holding Company Act, Ray H. Greenblatt
Interpreting The 1981 Amendments To The Illinois Bank Holding Company Act, Ray H. Greenblatt
Loyola University Chicago Law Journal
No abstract provided.
Tax-Exempt Mortgage Revenue Bonds: Another Case Of "Opiate Economics"?, Jan Brunken
Tax-Exempt Mortgage Revenue Bonds: Another Case Of "Opiate Economics"?, Jan Brunken
Loyola University Chicago Law Journal
No abstract provided.
Conflicts Between A Bank's Common Law Right Of Setoff And A Secured Party's Interest In Identifiable Proceeds, Rose M. Urban
Conflicts Between A Bank's Common Law Right Of Setoff And A Secured Party's Interest In Identifiable Proceeds, Rose M. Urban
Loyola University Chicago Law Journal
No abstract provided.
Redlining - The Fight Against Discrimination In Mortgage Lending, Freddi L. Greenberg
Redlining - The Fight Against Discrimination In Mortgage Lending, Freddi L. Greenberg
Loyola University Chicago Law Journal
No abstract provided.
Bankers Life: Birnbaum Reconsidered, John Michael Ryan
Bankers Life: Birnbaum Reconsidered, John Michael Ryan
Loyola University Chicago Law Journal
No abstract provided.