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Full-Text Articles in Law
Remic Tax Enforcement As Financial-Market Regulator, Bradley T. Borden, David J. Reiss
Remic Tax Enforcement As Financial-Market Regulator, Bradley T. Borden, David J. Reiss
David J Reiss
Lawmakers, prosecutors, homeowners, policymakers, investors, news media, scholars and other commentators have examined, litigated, and reported on numerous aspects of the 2008 Financial Crisis and the role that residential mortgage-backed securities (RMBS) played in that crisis. Big banks create RMBS by pooling mortgage notes into trusts and selling interests in those trusts as RMBS. Absent from prior work related to RMBS securitization is the tax treatment of RMBS mortgage-note pools and the critical role tax enforcement should play in ensuring the integrity of mortgage-note securitization.
This Article is the first to examine federal tax aspects of RMBS mortgage-note pools formed …
Book Review: The Subprime Virus: Reckless Credit, Regulatory Failure, And Next Steps, David J. Reiss
Book Review: The Subprime Virus: Reckless Credit, Regulatory Failure, And Next Steps, David J. Reiss
David J Reiss
John Godfrey Saxe’s 19th century poem, “The Blind Men and the Elephant,” opens with six learned men
Who went to see the Elephant
(Though all of them were blind),
That each by observation
Might satisfy his mind.
The financial crisis is the Elephant of our time. Over the last couple of years, more than six wise men and women have written books purporting to explain the financial crisis and many more such books are surely in the works. Most of these wise ones suffer from the same limitations as the poem’s learned men. As each reaches out, he or she …