Law Commons^™

Toward A Just Measure Of Repose: The Statute Of Limitations For Securities Fraud, Michael J. Kaufman

Michael J. Kaufman

Toward a Just Measure of Repose: The Statute of Limitations for Securities Fraud

by

Michael J. Kaufman*

John M. Wunderlich**

ABSTRACT

Statutes of limitations have been part of the architecture of civil litigation for centuries. They are designed to mitigate the risk that evidence of meritorious claims will become stale and also to relieve those who might be exposed to such claims from unending uncertainty about whether they will be brought. The “stale evidence” rationale is rooted in the premise that resolution of claims on their merits is more likely if the evidence, including testimony based on recall, is produced …

Toward A Just Measure Of Repose: The Statute Of Limitations For Securities Fraud, Michael J. Kaufman

Michael J. Kaufman

Toward a Just Measure of Repose: The Statute of Limitations for Securities Fraud

by

Michael J. Kaufman

John M. Wunderlich

ABSTRACT

Statutes of limitations have been part of the architecture of civil litigation for centuries. They are designed to mitigate the risk that evidence of meritorious claims will become stale and also to relieve those who might be exposed to such claims from unending uncertainty about whether they will be brought. The “stale evidence” rationale is rooted in the premise that resolution of claims on their merits is more likely if the evidence, including testimony based on recall, is produced …

The Financial Reform Act: Will It Succeed In Reversing The Causes Of The Subprime Crisis And Prevent Future Crises?, Charles W. Murdock

Charles W. Murdock

Summary: The Financial Reform Act: Will It Succeed in Reversing the Causes of the Subprime Crisis and Prevent Future Crises? By: Professor Charles W. Murdock

The current financial crisis, which could have plunged the world into a financial abyss similar to the Great Depression, is far from resolved. The financial institutions, which this article asserts caused the crisis, have returned to profitability and have paid billions of dollars in bonuses, while ordinary Americans have borne the brunt of the meltdown, with formal unemployment hanging around the 10% mark. This has caused some to comment that profits have been privatized and …

How Incentives Drove The Subprime Crisis, Charles W. Murdock

Charles W. Murdock

How Incentives Drove the Subprime Crisis

In order to address any systemic problem, whether the goal is to change the system, regulate the system, or change the incentives driving a system, it is necessary to appreciate all the drivers operating within the system. In the case of the subprime crisis, one of the drivers was the changing nature of the subprime loans, which was not factored into the models used by the investment bankers, the credit rating agencies, and the issuers of credit default swaps.

This paper is an attempt to look dispassionately at the subprime crisis from a particular …

How Incentives Drove The Subprime Crisis, Charles W. Murdock

Charles W. Murdock

In order to address any systemic problem, whether the goal is to change the system, o regulate the system, or change the incentives driving a system, it is necessary to appreciate all the drivers operating within the system. In the case of the subprime crisis, one of the drivers was the changing nature of the subprime loans, which was not factored into the models used by the investment bankers, the credit rating agencies, and the issuers of credit default swaps.

This paper is an attempt to look dispassionately at the subprime crisis from a particular perspective, namely, the incentives that …

Taking Stock -- Salary And Options Too: The Looting Of Corporate America, Kenneth R. Davis

Kenneth R. Davis

Abstract “Taking Stock – Salary and Options Too: The Looting of Corporate America” Executive compensation has come to mean corporate greed. CEO pay has soared to incomprehensible levels. Even during the current financial crisis, more CEOs saw pay increases than cuts. Public resentment to multi-million dollar paychecks swelled to outrage when AIG and Merrill Lynch used bailout funds to dispense enormous bonuses to executives. The looting of America’s corporations has led to numerous strategies to curb executive compensation. These strategies include heightened corporate disclosure requirements, tax incentives, say-on-pay, and shareholder input into the process for nominating directors. All these strategies …

Taking Stock -- Salary And Options Too: The Looting Of Corporate America, Kenneth R. Davis

Kenneth R. Davis

Abstract of “Taking Stock – Salary and Options Too: The Looting of Corporate American” Executive compensation has come to mean corporate greed. CEO pay has soared to incomprehensible levels. Even during the current financial crisis, more CEOs saw pay increases than cuts. Public resentment to multi-million dollar paychecks swelled to outrage when AIG and Merrill Lynch used bailout funds to dispense enormous bonuses to executives. The looting of America’s corporations has led to numerous strategies to curb executive compensation. These strategies include heightened corporate disclosure requirements, tax incentives, say on pay, and shareholder input into the process for nominating directors. …