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Full-Text Articles in Law
The Missing U.S. Vat: Economic Inequality, American Fiscal Exceptionalism, And The Historical U.S. Resistance To National Consumption Taxes, Ajay K. Mehrotra
The Missing U.S. Vat: Economic Inequality, American Fiscal Exceptionalism, And The Historical U.S. Resistance To National Consumption Taxes, Ajay K. Mehrotra
Northwestern University Law Review
Since the 1970s, economic inequality has soared dramatically across the globe and particularly in the United States. In that time, one of the obstacles of using fiscal policy to address inequality has been the growing myth of the “overtaxed American”—the misguided notion that U.S. taxpayers pay more in taxes than residents of other advanced, industrialized countries. This myth has persisted, in part, because of the peculiar and distinctive nature of the fractured American fiscal and social welfare state. Even a cursory review of comparative tax data shows that the United States, by most measures, is a low-tax country compared to …
The Alarming Legality Of Security Manipulation Through Shareholder Proposals, Artem M. Joukov, Samantha M. Caspar
The Alarming Legality Of Security Manipulation Through Shareholder Proposals, Artem M. Joukov, Samantha M. Caspar
Seattle University Law Review
Shareholder proposals attract attention from scholars in finance and economics because they present an opportunity to study both quasidemocratic decision-making at the corporate level and the impact of this decision-making on firm outcomes. These studies capture the effect of various proposals but rarely address whether regulations should allow many of them in the first place due to the possibility of stock price manipulation. Recent changes to shareholder proposal rules, adopted in September 2020, sought to address the potential for exploitation that some proposals create (but ultimately failed to do so). This Article shows the potential for apparently legal stock price …
The Problem With Predators, June Carbone, William K. Black
The Problem With Predators, June Carbone, William K. Black
Seattle University Law Review
Both corporate theory and sex discrimination law start with presumptions that CEOs seek to advance legitimate ends and design the internal organization of business enterprises to achieve such ends. Yet, a growing literature questions why CEOs and boards of directors nonetheless select for Machiavellianism, narcissism, psychopathy, and toxic masculinity, despite the downsides associated with these traits. Three scholarly literatures—economics, criminology, and gender theory—draw on advances in psychology to shed new light on the construction of seemingly dysfunctional corporate cultures. They start by questioning the assumption that CEOs—even CEOs of seemingly mainstream businesses—necessarily seek to advance “legitimate” ends. Instead, they suggest …
Developing Fiduciary Culture In Vietnam, Brian Jm Quinn
Developing Fiduciary Culture In Vietnam, Brian Jm Quinn
Seattle University Law Review
This Article examines Vietnam’s efforts during the past two and a half decades to build up its legal infrastructure during its transition from a centrally planned to a market economy. In particular, this Article will focus on the development of legal and regulatory infrastructure to support the development of the corporate sector and fiduciary culture in Vietnam. In thinking about corporate law, I do not intend to single out this particular area of law as somehow special in the context of transition. In fact, its commonness and generality are what makes the experience of the development of corporate law and …
Financial Innovation In East Asia, Ross P. Buckley, Douglas W. Arner, Michael Panton
Financial Innovation In East Asia, Ross P. Buckley, Douglas W. Arner, Michael Panton
Seattle University Law Review
Finance is important for development. However, the Asian financial crisis of 1997–1998 and the global financial crisis of 2008 highlighted the serious risks associated with financial liberalization and excessive innovation. East Asia’s strong focus on economic growth has necessitated a careful balancing of the benefits of financial liberalization and innovation against the very real risks inherent in financial sector development. This Article examines the role of regulatory, legal, and institutional infrastructure in supporting both financial development and limiting the risk of financial crises. The Article then addresses a series of issues with particular developmental significance in the region: trade finance, …
Risks And Hedges Of Providing Liquidity In Complex Securities: The Impact Of Insider Trading On Options Market Makers, Stanislav Dolgopolov
Risks And Hedges Of Providing Liquidity In Complex Securities: The Impact Of Insider Trading On Options Market Makers, Stanislav Dolgopolov
Fordham Journal of Corporate & Financial Law
No abstract provided.
Neo-Brandeisianism And The New Deal: Adolf A. Berle, Jr., William O. Douglas, And The Problem Of Corporate Finance In The 1930s, Jessica Wang
Seattle University Law Review
This essay revisits Adolf A. Berle, Jr. and The Modern Corporation and Private Property by focusing on the triangle of Berle, Louis D. Brandeis, and William O. Douglas in order to examine some of the underlying assumptions about law, economics, and the nature of modern society behind securities regulation and corporate finance in the 1930s. I explore Douglas and Berle’s academic and political relationship, the conceptual underpinnings of Brandeis, Berle, and Douglas’s critiques of modern finance, and the ways in which the two younger men—Berle and Douglas—ultimately departed from their role model, Brandeis.
The Summer Has Ended And We Are Not Saved! Towards A Transformative Agenda For Africa's Development, Nsongurua J. Udombana
The Summer Has Ended And We Are Not Saved! Towards A Transformative Agenda For Africa's Development, Nsongurua J. Udombana
San Diego International Law Journal
This Article examines the promised debt relief and commends the G8 for taking the initiative to assist a continent in crisis. The Article, however, argues that debt relief is far from a complete cure, and that Sub-Saharan Africa (SSA) needs more than handouts from the G8 to overcome poverty. Debt relief is merely the end of the beginning; it is, at best, a gesture of support to Africa's effort at meeting human security, which the African Union (A.U.) defines as "the security of the individual in terms of satisfaction of his/her basic needs." Africa's problems are conspicuous, though their solutions …
The Unique Jurisprudence Of Letters Of Credit: Its Origin And Sources, Gao Xiang, Ross P. Buckley
The Unique Jurisprudence Of Letters Of Credit: Its Origin And Sources, Gao Xiang, Ross P. Buckley
San Diego International Law Journal
This Article seeks to illumine the legal nature of the letter of credit instrument, and catalogue the various sources of law and rules that can govern it; and, by doing so, render a service to those who must quickly come to grips with letter of credit law. The Article is in two parts. The first part examines the legal nature of the letter of credit by looking at its definition, operation, and history and by comparing it with negotiable instruments and contracts. The second part considers the rules, customs, and regulations governing letters of credit and introduces the two fundamental …
Rebuilding Accountability In The Boardroom, Stephen M. Davis
Rebuilding Accountability In The Boardroom, Stephen M. Davis
Richmond Journal of Global Law & Business
No abstract provided.
The Relationship Of Imf Structural Adjustment Programs To Economic, Social, And Cultural Rights: The Argentine Case Revisited, Jason Morgan-Foster
The Relationship Of Imf Structural Adjustment Programs To Economic, Social, And Cultural Rights: The Argentine Case Revisited, Jason Morgan-Foster
Michigan Journal of International Law
Perhaps as important as what this Note is, is what it is not: Economic theories abound concerning the causes of the Argentine crisis, some of which directly analyze the IMF's causal connection to the Argentine catastrophe. A Note on this subject would be one of economic theory, not international human rights law. While at certain points in the analysis of the human rights implications of SAPs, it will become difficult to avoid some speculation of economic theory, it is not the primary focus of this Note. Rather than implicate the IMF as part of the cause of the crisis, this …
Startegy And Force In The Liquidation Of Secured Debt, Ronald J. Mann
Startegy And Force In The Liquidation Of Secured Debt, Ronald J. Mann
Michigan Law Review
The question of why parties use secured debt is one of the most fundamental questions in commercial finance. The commonplace answer focuses on force: A grant of collateral to a lender enhances the lender's ability to collect its debt by enhancing the lender's ability to take possession of the collateral by force and sell it to satisfy the debt. That perspective draws considerable support from the design of the major legal institutions that support secured debt: Article 9 of the Uniform Commercial Code and the less uniform state laws regarding real estate mortgages. Both of those institutions are designed solely …
Of Property Rights And The Fifth Amendment: Firrea's Cross-Guarantee Reexamined, Jennifer B. Arlin
Of Property Rights And The Fifth Amendment: Firrea's Cross-Guarantee Reexamined, Jennifer B. Arlin
William & Mary Law Review
No abstract provided.
Acceleration Clause Disclosure: A Truth In Lending Policy Analysis, Patrick E. Hoog
Acceleration Clause Disclosure: A Truth In Lending Policy Analysis, Patrick E. Hoog
Indiana Law Journal
No abstract provided.
Industrial And Commercial Loans And Guarantees For New Or Expanding Business Under The Public Works And Economic Development Act Of 1965, James M. Roberts
Industrial And Commercial Loans And Guarantees For New Or Expanding Business Under The Public Works And Economic Development Act Of 1965, James M. Roberts
West Virginia Law Review
In his pivotal primary victory over Hubert Humphrey, President John F. Kennedy pledged that he would lend vigorous assistance to the impoverished coal mining regions of West Virginia to alleviate their economic distress. In fulfillment of this pledge, Congress passed and President Kennedy signed into law in May, 1961, the Area Redevelopment Act in order to "establish an effective program to alleviate conditions of substantial and persistent unemployment and underemployment in certain economically distressed areas." The Area Redevelopment Act created an experimental pilot program within the Department of Commerce to accomplish the above purpose through a system of government loans …