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Cornell University Law School

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2012

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Articles 61 - 65 of 65

Full-Text Articles in Law

License To Deal: Mandatory Approval Of Complex Financial Products, Saule T. Omarova Jan 2012

License To Deal: Mandatory Approval Of Complex Financial Products, Saule T. Omarova

Cornell Law Faculty Publications

This Article explores the possibility of creating a system of mandatory pre-approval of complex financial products as an ex ante solution to the problem of systemic risk containment. Building on the concept of regulatory precaution borrowed from environmental and health law, and elements of pre-CFMA regulation of commodity futures, the Article outlines the broad contours of a new licensing scheme that would place the burden of proving social and economic utility of complex financial instruments on the intermediaries that structure and market them. Fundamentally a thought experiment, this proposal seeks to enrich the current policy debate by expanding the range …


That Which We Call A Bank: Revisiting The History Of Bank Holding Company Regulations In The United States, Saule T. Omarova, Tahyar E. Margaret Jan 2012

That Which We Call A Bank: Revisiting The History Of Bank Holding Company Regulations In The United States, Saule T. Omarova, Tahyar E. Margaret

Cornell Law Faculty Publications

This Article does not purport to present an exhaustive and detailed analysis of the entire political or economic history of bank holding company regulation in the United States. Rather, its goal is to examine one particular aspect of that history-the evolution of the BHCA definition of "bank" and the principal exemptions from that definition. Incomplete as it may be, this story highlights some of the key economic, social and political factors that shaped the current institutional structure of the U.S. financial services market and regulation. Without a thorough understanding of the genesis of that structure, it is difficult to envision …


Freedom Struggles And The Limits Of Constitutional Continuity, Aziz Rana Jan 2012

Freedom Struggles And The Limits Of Constitutional Continuity, Aziz Rana

Cornell Law Faculty Publications

This Essay challenges the view that although the actual and everyday Constitution may be riddled with real injustices, progressives should maintain faith in an idealized document and should see the shared language of constitutionalism as the privileged instrument for redeeming political life. Instead, it argues that faith should reside in an ideal of effective and equal freedom alone. Indeed, such a commitment may at key moments require pursuing constitutional rupture and rejection. The Essay highlights this point by reinterpreting two central decisions from the Civil War and Reconstruction eras: The Prize Cases (1863) and Ex parte Milligan (1866). These cases …


Defending The Right To Do Wrong, Ori J. Herstein Jan 2012

Defending The Right To Do Wrong, Ori J. Herstein

Cornell Law Faculty Publications

Are there moral rights to do moral wrong? A right to do wrong is a right that others not interfere with the right-holder's wrongdoing. It is a right against enforcement of duty, that is a right that others not interfere with one's violation of one's own obligations. The strongest reason for moral rights to do moral wrong is grounded in the value of personal autonomy. Having a measure of protected choice (that is a right) to do wrong is a condition for an autonomous life and for autonomous moral self-constitution. This view has its critics. Responding to these objections reveals …


Religion, School, And Judicial Decision Making: An Empirical Perspective, Michael Heise, Gregory C. Sisk Jan 2012

Religion, School, And Judicial Decision Making: An Empirical Perspective, Michael Heise, Gregory C. Sisk

Cornell Law Faculty Publications

We analyze various influences on judicial outcomes favoring religion in cases involving elementary and secondary schools and decided by lower federal courts. A focus on religion in the school context is warranted as the most difficult and penetrating questions about the proper relationship between Church and State have arisen with special frequency, controversy, and fervor in the often-charged atmosphere of education. Schools and the Religion Clauses collide persistently, and litigation frames many of these collisions. Also, the frequency and magnitude of these legal collisions increase as various policy initiatives increasingly seek to leverage private and religious schools in the service …