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Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova
Public Actors In Private Markets: Toward A Developmental Finance State, Robert Hockett, Saule Omarova
Saule T. Omarova
The recent financial crisis brought into sharp relief fundamental questions about the social function and purpose of the financial system, including its relation to the “real” economy. This Article argues that, to answer these questions, we must recapture a distinctively American view of the proper relations among state, financial market, and development. This programmatic vision – captured in what we call a “developmental finance state” – is based on three key propositions: (1) that economic and social development is not an “end-state” but a continuing national policy priority; (2) that the modalities of finance are the most potent means of …
The Aftermath Of Governor Mcdonnell’S Corruption Trial: Proposing Comprehensive Ethics Reform In Virginia, Lisa J. Lindhorst
The Aftermath Of Governor Mcdonnell’S Corruption Trial: Proposing Comprehensive Ethics Reform In Virginia, Lisa J. Lindhorst
Lisa J Lindhorst
On September 4, 2014, a federal court convicted former governor of Virginia Bob McDonnell of eleven counts of corruption, bribery, and fraud for accepting over $165,000 worth of gifts and loans from the CEO of a local company. The egregious actions that led to these federal criminal convictions, however, were startlingly “legal” under Virginia’s ethics laws. The disparity between federal criminal standards and Virginia’s ethics standards illustrates the severe inadequacies that plague Virginia’s current system of ethics laws. Virginia’s absence of appropriate ethics laws and enforcement led to the state’s failing State Integrity Investigation grade, and the public acknowledgment by …
Constitutional Conditions: Regulating Independent Political Expenditures By Government Contractors After Citizens United, Michael Boardman
Constitutional Conditions: Regulating Independent Political Expenditures By Government Contractors After Citizens United, Michael Boardman
Michael Boardman
A milestone in campaign finance jurisprudence, the Citizens United case sparked a political firestorm. Holding that all citizens and corporate entities are permitted to spend freely on elections, the Court overturned Austin v. Michigan Chamber of Commerce and parts of McConnell v. FEC, and mooted two other cases in the field. Only six months later, the House of Representatives passed the DISCLOSE Act in an overt attempt to counteract the Citizens United decision. The Act has received much attention for its heightened corporate disclosure requirements, but another of its lesser-debated provisions could prove more onerous for America’s wealthiest corporations and …