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Full-Text Articles in Law
From The Great Recession To The Covid-19 Pandemic: A Financial History Of The United States 2010-2020—A Comparison Of The Government’S Response To The Two Financial Crises That Bookended The 2010 To 2020 Decade, Lissa Lamkin Broome
FIU Law Review
This article compares the government's legislative and regulatory response to each of the two financial crises that bookended the 2010-2020 decade and how the response to the COVID-19 crisis was affected by various provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act enacted in 2010 in response to the 2008 financial crisis. The article concludes with six lessons we learned from these two financial crises experienced in relatively short order: act fast, act with force, act on multiple fronts, regain or retain citizens' confidence in the financial system, ensure access to liquidity, and aid those who are struggling.
Of Progressive Property And Public Debt, Christopher K. Odinet
Of Progressive Property And Public Debt, Christopher K. Odinet
Faculty Scholarship
Debt is property, and, because of this, property law has a lot to say about how debts are resolved. Indeed, property law is deeply woven into the fabric of the bankruptcy process — a fact that has been woefully neglected by many scholars. The ability to provide debtors with relief and the ability of creditors to demand protections from discharge or diminished payments are both concepts that are intimately tied to property law. However, despite the doctrinal workings of property law in this context, from a theoretical standpoint property law has been underutilized. This is particularly true, as this Article …
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 …
Neoliberalism And The Law: How Historical Materialism Can Illuminate Recent Governmental And Judicial Decision Making, Justin Schwartz
Neoliberalism And The Law: How Historical Materialism Can Illuminate Recent Governmental And Judicial Decision Making, Justin Schwartz
Justin Schwartz
Neoliberalism can be understood as the deregulation of the economy from political control by deliberate action or inaction of the state. As such it is both constituted by the law and deeply affects it. I show how the methods of historical materialism can illuminate this phenomenon in all three branches of the the U.S. government. Considering the example the global financial crisis of 2007-08 that began with the housing bubble developing from trade in unregulated and overvalued mortgage backed securities, I show how the repeal of the Glass-Steagall Act, which established a firewall between commercial and investment banking, allowed this …