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Full-Text Articles in Law
Enron And The New Disinterestedness - The Foxes Are Guarding The Henhouse, Nancy B. Rapoport
Enron And The New Disinterestedness - The Foxes Are Guarding The Henhouse, Nancy B. Rapoport
Scholarly Works
Discussion of the 2005 amendments to the U.S. Bankruptcy Code as those changes relate to conflicts of interest of investment bankers.
Realizing The Promise Of Restructuring The Electricity Market, Richard J. Pierce Jr
Realizing The Promise Of Restructuring The Electricity Market, Richard J. Pierce Jr
GW Law Faculty Publications & Other Works
In this contribution to a symposium on restructuring the U.S. electricity market, I summarize the peaks and valleys that have characterized the restructuring process over the past two decades. I begin by describing the reasons why I joined with a group of other academics twenty years ago in an effort to restructure the U.S electricity market. The market was characterized by large, well-documented structural and operational maladies; it had performed poorly for over a decade; its basic characteristics were consistent with increased reliance on market forces as an effective governance mechanism; and, our recent success in restructuring analogous markets provided …
From Gregory To Enron: The Too Perfect Theory And Tax Law, Christopher H. Hanna
From Gregory To Enron: The Too Perfect Theory And Tax Law, Christopher H. Hanna
Faculty Journal Articles and Book Chapters
Although financial writers have been using magic terms in describing tax law (and accounting reporting), do such terms and theories really have a place in the law? This Article will show that there is a connection between magic and tax law. In a sense, tax lawyers are magicians in that they are able to structure transactions in a manner to minimize taxes, in many cases, to the complete bewilderment of their clients. Tax lawyers are constantly striving to structure transactions in ways that will withstand scrutiny from both the government and the courts. Experienced and well-informed tax lawyers know, however, …
Wrongs Of Ignorance And Ambiguity: Lawyer Responsibility For Collective Misconduct, William H. Simon
Wrongs Of Ignorance And Ambiguity: Lawyer Responsibility For Collective Misconduct, William H. Simon
Faculty Scholarship
Deliberate ignorance and calculated ambiguity are key recurring themes in modern scandals from Watergate to Enron. Actors, especially lawyers, seek to limit responsibility by avoiding knowledge and clear articulation. This essay considers this phenomenon from the point of view of both business organization and legal doctrine. Evasive ignorance and ambiguity seem endemic to a particular organizational model and to a traditional model of legal responsibility. Developments in both law and business, however, suggest that these models are being superceded. Many of the most dynamic businesses now emphasize practices of "transparency" designed to inhibit evasive ignorance and calculated ambiguity. A major …