Law Commons^™

Privileged Access To Financial Innovation, Cary Martin Shelby

Loyola University Chicago Law Journal

Access to private funds is limited to an elite class of investors—wealthy individuals and large institutions. Individuals of more modest means—“retail investors”—face more limited investment choices; generally they can only invest in mutual funds. Despite this inequitable division, the current regulatory climate will lead to an even further expansion of the private fund industry. This Article argues that this loosening regulatory climate could lead to a talent drain amongst registered funds, could narrow the investment choices available to retail investors, and could deepen the already troubling income gap between wealthy and average earners. With respect to a possible talent drain, …

Behavioral Economics And Investor Protection: Keynote Address, Daniel Kahneman

Loyola University Chicago Law Journal

No abstract provided.

Foreword: Behavioral Econimis And Investor Protection, Michael J. Kaufman

Loyola University Chicago Law Journal

No abstract provided.

Daniel Kahneman's Influence On Legal Theory, Russell Korobkin

Loyola University Chicago Law Journal

No abstract provided.

Behavioral Science And Scienter In Class Action Securities Fraud Litigation, Ann Morales Olazábal

Loyola University Chicago Law Journal

No abstract provided.

Conjoining "Recklessness" In Securities Fraud Cases To Moral Culpability, Jed S. Rakoff

Loyola University Chicago Law Journal

No abstract provided.

The Dangers Of Missing The Forest: The Harm Caused By Verifone Holdings In A Tellabs World, Carol V. Gilden, Michael B. Eisenkraft, Josh Segal

Loyola University Chicago Law Journal

No abstract provided.

Rewiring The Dna Of Securities Fraud Litigation: Amgen'S Missed Opportunity, Geoffrey Rapp

Loyola University Chicago Law Journal

No abstract provided.

Behavioral Economics Applied: Loss Causation, Robert A. Prentice

Loyola University Chicago Law Journal

Current securities fraud doctrine applying section 10(b) and Rule 10b-5 set a high bar for civil damages plaintiffs who must plead and prove both loss causation and transaction causation in order to prevail. Such a strict standard is not demanded by the law, given that the purpose of the Securities Act of 1933 and Securities Exchange Act of 1934 was to provide more protection for investors than had the common law of fraud. Nonetheless, the courts, especially the Supreme Court in Dura Pharmaceuticals v. Broudo, have chosen to impose this additional requirement.

This Article examines the behavioral psychology literature, …

A New Philosophy For Financial Stability Regulation, Hilary J. Allen

Loyola University Chicago Law Journal

The financial crisis of 2007–2008 revealed many inadequacies in the pre-crisis approach to financial stability regulation. In the United States, Congress responded by enacting the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Act calls for government agencies to make numerous rules regulating activities that have the potential to harm financial stability, but there has been no real effort to rethink how these rules should be assessed. The cost-benefit analysis standard used to evaluate financial stability regulation prior to the crisis persists today, and both the courts and Congress have sought to further entrench that standard. However, cost-benefit analysis …

Behavioral Finance Before Kahneman, Richard A. Posner

Loyola University Chicago Law Journal

No abstract provided.

A Behavioral View Of Investor Protection, Thomas S. Ulen

Loyola University Chicago Law Journal

No abstract provided.

Building On Kahneman's Insights In The Development Of Behavioral Finance, Hersh Shefrin

Loyola University Chicago Law Journal

No abstract provided.

What Kahneman Means For Lawyers: Some Reflections On Thinking, Fast And Slow, Charles W. Murdock, Barry Sullivan

Loyola University Chicago Law Journal

No abstract provided.

Behavioral Economics And Investor Protection: Reasonable Investors, Efficient Markets, Barbara Black

Loyola University Chicago Law Journal

No abstract provided.

Derivatives: A Twenty-First Century Understanding, Timothy E. Lynch

Loyola University Chicago Law Journal

Derivatives are commonly defined as some variation of the following: financial instruments whose value is derived from the performance of a secondary source such as an underlying bond, commodity, or index. This definition is both over-inclusive and under-inclusive. Thus, not surprisingly, even many policy makers, regulators, and legal analysts misunderstand them. It is important for interested parties such as policy makers to understand derivatives because the types and uses of derivatives have exploded in the last few decades and because these financial instruments can provide both social benefits and cause social harms. This Article presents a framework for understanding modern …

What Use Is The Judiciary In A Financial Crisis?, Richard D. Cudahy

Loyola University Chicago Law Journal

No abstract provided.

Why Not Tell The Truth?: Deceptive Practices And The Economic Meltdown, Charles W. Murdock

Loyola University Chicago Law Journal

No abstract provided.

Contracting For Financial Privacy: The Rights Of Banks And Customers Under The Reauthorized Patriot Act, Aditi A. Prabhu

Loyola University Chicago Law Journal

The 2001 Patriot Act chipped away financial privacy protections by allowing law enforcement authorities easier access to bank customer records. Under the Patriot Act, federal authorities may access customer records by issuing formal subpoena-like requests under the Foreign Intelligence Surveillance Act ("FISA") or informal national security letters ("NSLs") to banks while prohibiting notice to any affected customers. However, the 2006 revisions to the Patriot Act permit banks to challenge FISA requests and NSLs in federal court before releasing customer records. While the Act does not require banks to make these challenges on behalf of their customers, this Article will argue …

Justice And The Administrative State: The Fdic And The Superior Bank Failure, Christian A. Johnson

Loyola University Chicago Law Journal

No abstract provided.

Wild Card Statutes, Parity, And National Banks - The Renascence Of State Banking Powers, Christian A. Johnson

Loyola University Chicago Law Journal

No abstract provided.

The Swan Song Of A Dishonest Duck: A Prototype For Analyzing Converage Under The Bankers Blanket Bond, Davis J. Howard

Loyola University Chicago Law Journal

No abstract provided.

The New Illinois Mortgage Foreclosure Law And Installment Sales Contracts, Victor Grimm

Loyola University Chicago Law Journal

No abstract provided.

Midwest Regional Interstate Banking, Ronald B. Given

Loyola University Chicago Law Journal

No abstract provided.

Interpreting The 1981 Amendments To The Illinois Bank Holding Company Act, Ray H. Greenblatt

Loyola University Chicago Law Journal

No abstract provided.

Tax-Exempt Mortgage Revenue Bonds: Another Case Of "Opiate Economics"?, Jan Brunken

Loyola University Chicago Law Journal

No abstract provided.

Conflicts Between A Bank's Common Law Right Of Setoff And A Secured Party's Interest In Identifiable Proceeds, Rose M. Urban

Loyola University Chicago Law Journal

No abstract provided.

Redlining - The Fight Against Discrimination In Mortgage Lending, Freddi L. Greenberg

Loyola University Chicago Law Journal

No abstract provided.

Bankers Life: Birnbaum Reconsidered, John Michael Ryan

Loyola University Chicago Law Journal

No abstract provided.

Bankruptcy - Priorities - Internal Revenue Code Provision Making Withheld Taxes A Trust For Government Held Not To Supersede Bankruptcy Act Priorities Which Give All Costs Of Administration Pro Rata First Priority, Eugene J. Jeka

Loyola University Chicago Law Journal

No abstract provided.