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Full-Text Articles in Law

The Rise Of Risk-Based Regulatory Capital: Liquidity And Solvency Standards For Financial Intermediaries, Jose Gabilondo Aug 2016

The Rise Of Risk-Based Regulatory Capital: Liquidity And Solvency Standards For Financial Intermediaries, Jose Gabilondo

José Gabilondo

In a capitalist economy, a private firm seeking finance must negotiate with prospective investors in the open market, which establishes standards about the terms on which debt and equity investment will be forthcoming. In addition to these market-financing standards, the capital structure of some financial firms—particularly broker-dealers, federally insured depository institutions, and insurance companies—must satisfy other requirements imposed by federal or state regulators to promote liquidity and solvency. Regulators take a heightened interest in these firms because they serve a public function in providing credit and other financial services. To grasp what regulatory capital rules try to accomplish, the reader …


Dodd-Frank, Liability Structure, And Financial Instability Cycles: Neither A (Ponzi) Borrower Nor A Lender Be, Jose M. Gabilondo Aug 2016

Dodd-Frank, Liability Structure, And Financial Instability Cycles: Neither A (Ponzi) Borrower Nor A Lender Be, Jose M. Gabilondo

José Gabilondo

No abstract provided.


Monetizing Diaspora: Liquid Sovereigns, Fertile Workers, And The Interest-Convergence Around Remittance, Jose M. Gabilondo Aug 2016

Monetizing Diaspora: Liquid Sovereigns, Fertile Workers, And The Interest-Convergence Around Remittance, Jose M. Gabilondo

José Gabilondo

No abstract provided.


Institutional Pluralism From The Standpoint Of Its Victims: Calling The Question On Indiscriminate (In)Tolerance, Jose M. Gabilondo Aug 2016

Institutional Pluralism From The Standpoint Of Its Victims: Calling The Question On Indiscriminate (In)Tolerance, Jose M. Gabilondo

José Gabilondo

Borrowing from postmodernity, new Right intellectuals have become adept at plucking core terms from the liberal register, stripping away their history and social context, and making them do the conceptual work of backlash. A recent example is the theme of the 2009 annual meeting of the AALS: institutional pluralism. The phrase has a surface resemblance to traditional liberal values but, in truth, acts as a Trojan horse for discrimination projects that many may find troubling. By putting the phrase in its social context, this essay reveals the ideological interests at work in the idea.


When God Hates: How Liberal Guilt Lets The New Right Get Away With Murder, Jose M. Gabilondo Aug 2016

When God Hates: How Liberal Guilt Lets The New Right Get Away With Murder, Jose M. Gabilondo

José Gabilondo

No abstract provided.


So Now Who Is Special?: Business Model Shifts Among Firms That Borrow To Lend, José Gabilondo Aug 2016

So Now Who Is Special?: Business Model Shifts Among Firms That Borrow To Lend, José Gabilondo

José Gabilondo

No abstract provided.


Financial Hospitals: Defending The Fed’S Role As A Market Maker Of Last Resort, José Gabilondo Aug 2016

Financial Hospitals: Defending The Fed’S Role As A Market Maker Of Last Resort, José Gabilondo

José Gabilondo

During the last financial crisis, what should the Federal Reserve (the Fed) have done when lenders stopped making loans, even to borrowers with sterling credit and strong collateral? Because the central bank is the last resort for funding, the conventional answer had been to lend freely at a penalty rate against good collateral, as Walter Bagehot suggested in 1873 about the Bank of England. Acting thus as a lender of last resort, the central bank will keep solvent banks liquid but let insolvent banks go out of business, as they should. The Fed tried this, but when the conventional wisdom …