Law Commons^™

The Environmental Deficit: Applying Lessons From The Economic Recession, Christine A. Klein

Christine A. Klein

In 2007, the nation entered its greatest financial downturn since the Great Depression of the 1930s. What followed was a period of national introspection. Although prescriptions for financial rescue varied widely in the details, a surprisingly broad consensus emerged as to the underlying pathology of the crisis. This Article explores three principal contributing factors and the lessons associated with each that make up this pathology. These factors include: rejecting rules through deregulation, trivializing risk through overly optimistic analyses, and overconsumption supported by reckless borrowing and lending practices. The powerful lessons from this pathology, considered by a stunned nation in the …

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 …

Collective Bargaining Developments In Time Of Crisis, Michele Faioli

Michele Faioli

No abstract provided.

A Vast Image Out Of Spiritus Mundi: The Existential Crisis Of Law Schools (Book Review), Jeremiah A. Ho

Jeremiah A. Ho

Review of Teaching Law: Justice, Politics, and the Demands of Professionalism. By Robin L. West. Cambridge and New York: Cambridge University Press. 2014. Pp. 246. Cloth, $90; paper, $32.99.

The Impact Of The Treaty On Stability, Coordination And Governance On The National Constitutional Structure: The Regional Example, Giuseppe Martinico

Giuseppe Martinico

Hamp: Doomed From The Start, Marc Gans

Marc Gans

This paper will critique the effectiveness of the government's Home Affordable Mortgage Program (HAMP) and its companion programs, and dissect what went wrong. This will include an analysis of strategic defaults, securitization, legal liability, proposed solutions and conclude with what I think should have been done from the start.

Lavoro E Produttività Nell'economia Globale. La Contrattazione Collettiva Decentrata Dopo La Manovra Di Ferragosto 2011, Michele Faioli, Angelo Pandolfo

Michele Faioli

No abstract provided.

Is Competition The Solution Or The Problem? An Analysis Of U.S. Mortgage Securitization, Michael N. Simkovic

Michael N Simkovic

This article’s original contribution to the literature about the causes of the U.S. mortgage crisis of the late 2000s is to analyze two important causes that have thus far only been discussed in passing. First, this article provides evidence that fragmentation of the securitization market in the mid-2000s and competition between mortgage securitizers undermined securitizers’ ability to control originators, and that such competition led to a race to the bottom on underwriting standards. Second, this article provides evidence of a shift in market power away from securitizers and toward originators during the mid-2000s, and argues that this shift in power …

No More Abuse: The Dodd-Frank And Consumer Financial Protection Act's "Abusive" Standard, Tiffany S. Lee

Tiffany S Lee

The Dodd-Frank Wall Street Reform and Consumer Financial Protection Act creates the new Bureau of Consumer Financial Protection. This consumer watchdog will be responsible for the most powerful consumer protections in American history. Under section 1031(d) of the Act, the Bureau may ban acts and practices that are unfair, deceptive, or abusive. While the unfair and deceptive standards have existed for some time, “abusive” is a relatively new legal standard with limited jurisprudential history. Thus, ironically, critics assert that the inclusion of the abusive standard is itself an abuse of legislative power. This Article asserts that despite some criticism to …

Los Problemas De Agencia Entre Los Acreedores Y El Liquidador: Una Aproximación A Las Soluciones Desde La Jurisprudencia Administrativa, Pierino Stucchi

Pierino Stucchi

No abstract provided.

Crisis, Rescue And Corporate Social Responsibility Under American Corporate Law, Robert J. Rhee

Robert Rhee

This chapter discusses the legal issues of rescue and corporate social responsibility during times of public crisis. It analyzes a corporate board’s fiduciary duty related to the management of a public crisis and the provision of aid to government and the public. The thesis is that American corporate law adequately provides corporate boards authority to assume broad principles of corporate social responsibility, and that during a public crisis this authority is specially recognized in the enabling statutes of corporate law and should be broadened even further to pursue the public good in exigent circumstances.

Crisis, Rescue And Corporate Social Responsibility Under American Corporate Law, Robert J. Rhee

Robert Rhee

This chapter discusses the legal issues of rescue and corporate social responsibility during times of public crisis. It analyzes a corporate board’s fiduciary duty related to the management of a public crisis and the provision of aid to government and the public. The thesis is that American corporate law adequately provides corporate boards authority to assume broad principles of corporate social responsibility, and that during a public crisis this authority is specially recognized in the enabling statutes of corporate law and should be broadened even further to pursue the public good in exigent circumstances.

Crisis, Rescue And Corporate Social Responsibility Under American Corporate Law, Robert J. Rhee

Robert Rhee

This chapter discusses the legal issues of rescue and corporate social responsibility during times of public crisis. It analyzes a corporate board’s fiduciary duty related to the management of a public crisis and the provision of aid to government and the public. The thesis is that American corporate law adequately provides corporate boards authority to assume broad principles of corporate social responsibility, and that during a public crisis this authority is specially recognized in the enabling statutes of corporate law and should be broadened even further to pursue the public good in exigent circumstances.

Crisis, Rescue And Corporate Social Responsibility Under American Corporate Law, Robert J. Rhee

Robert Rhee

This chapter discusses the legal issues of rescue and corporate social responsibility during times of public crisis. It analyzes a corporate board’s fiduciary duty related to the management of a public crisis and the provision of aid to government and the public. The thesis is that American corporate law adequately provides corporate boards authority to assume broad principles of corporate social responsibility, and that during a public crisis this authority is specially recognized in the enabling statutes of corporate law and should be broadened even further to pursue the public good in exigent circumstances.

Nigeria’S Survival Of The Global Financial Crisis In The 21st Century – Which Way Nigeria, Chinedu Chibueze Ihenetu-Geoffrey

Chinedu Chibueze Ihenetu-Geoffrey

A spectre is haunting the world: the spectre of total collapse of the global economy as a result of the greed of a few decision-makers and the failure of regulators of the market in some countries. It should be emphasized, however, that cyclic booms and depressions are essential ingredients of the capitalist system, thereby rendering the so-called global meltdown not totally unexpected to those who monitor developments in the global market-place. The interdependence and inter-connectedness of the economies of countries within the global capitalist economy are such that when the biggest players sneeze, the marginal ones catch cold. In what …

Book Review: Dan Immergluck, Foreclosed: High-Risk Lending, Deregulation, And The Undermining Of America’S Mortgage Market, David J. Reiss

David J Reiss

This is a book review of Dan Immergluck, FORECLOSED: HIGH-RISK LENDING, DEREGULATION, AND THE UNDERMINING OF AMERICA’S MORTGAGE MARKET (Cornell University Press 2009).

Crisis, Rescue And Corporate Social Responsibility Under American Corporate Law, Robert Rhee

Robert Rhee

This chapter discusses the legal issues of rescue and corporate social responsibility during times of public crisis. It analyzes a corporate board’s fiduciary duty related to the management of a public crisis and the provision of aid to government and the public. The thesis is that American corporate law adequately provides corporate boards authority to assume broad principles of corporate social responsibility, and that during a public crisis this authority is specially recognized in the enabling statutes of corporate law and should be broadened even further to pursue the public good in exigent circumstances.

Where Do We Come From? Innovation And Regulatory Response In The Banking Industry Before The Crisis, Bruno Meyerhof Salama

Bruno Meyerhof Salama

Determinantes Explícitos E Implícitos De La Deuda Externa Pública Peruana, José Manuel Martin Coronado

José-Manuel Martin Coronado

This research aims to prove that sound economic policies are nothing more that basic conditions for the foreign public debt problem. In fact, by studying the factors of public debt issues in Peru, Latin America and the emerging economies it’s clear that some implicit economic and non-economic factors have to be considered because of the social complexity and variable characteristics in emerging economies. This causes failures in economic policies assumptions, inefficiencies, distorted causality and nonrational behavior. This paper proposes, first, to perform a deep and comparative analysis of the foreign debt determinants in emerging economies, then, to allocate financial resources, …

Misfeasance In Public Office, Governmental Liability And European Influences, Mads Andenas

Mads Andenas

The article deals with the liability of banking regulators in the UK after the BCCI debacle, and provides a wider comparative perspective. It analyses the lack of enforcement culture in the Bank of England, at the systemic failures on the regulatory side that this leads to. The article argues in favour of an extended liability for lack of effective banking supervision, and that banking regulators should be liable where there is a sufficiently breach of the duty to supervise and enforce.