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Articles 1 - 11 of 11
Full-Text Articles in Law
Revocable Trusts Under The Florida Trust Code, Donna Litman
Revocable Trusts Under The Florida Trust Code, Donna Litman
Faculty Scholarship
No abstract provided.
Legal Strategies To Address Child Support Obligations For Nonresident Fathers In The Child Welfare System, Daniel L. Hatcher
Legal Strategies To Address Child Support Obligations For Nonresident Fathers In The Child Welfare System, Daniel L. Hatcher
All Faculty Scholarship
The legal and practical issues surrounding child support obligations have enormous impact on families in the child welfare system. Unfortunately, these issues are often ignored, overlooked, or misunderstood. A much-needed effort to engage nonresident fathers in the child welfare system is underway, but those efforts will often be derailed if child support is not properly addressed. This article sheds light on the legal and policy concerns regarding child support enforcement in child protection cases and provides legal strategies for advocates to address those concerns. While primarily aimed at advocates for nonresident fathers, this article should also benefit advocates for custodial …
The Coming Demise Of Deregulation Ii, Richard D. Cudahy
The Coming Demise Of Deregulation Ii, Richard D. Cudahy
Richard D. Cudahy
An article that I had written in 1993, which forecast the "coming demise of deregulation," might at last be vindicated by the fallout from the banking and credit crisis. This article discuses recent developments in the banking and financial services industry, and anticipates a resurgence of regulation.
Deterring "Double-Play" Manipulation In Financial Crisis: Increasing Transaction Cost As A Regulatory Tool, Lin (Lynn) Bai, Rujing Meng
Deterring "Double-Play" Manipulation In Financial Crisis: Increasing Transaction Cost As A Regulatory Tool, Lin (Lynn) Bai, Rujing Meng
Faculty Articles and Other Publications
The sub-prime mortgage crisis that originated in the United States has triggered a global credit crunch, threatening the solvency of emerging markets that have relied heavily on foreign debt, and resulting in the devaluation of their currencies. Currency market interventions by the central banks in countries with a currency board system lead to higher short-term interest rates and further declinations in the local stock market. This economic setting invites the double-play manipulation strategy that simultaneously attacks both the local currency and the stock market. History has shown that a central bank’s stock market intervention is costly and that sustaining the …
Eliminating The Secondary Earner Bias: Lessons From Malaysia, The United Kingdom, And Ireland, Tonya Major Gauff
Eliminating The Secondary Earner Bias: Lessons From Malaysia, The United Kingdom, And Ireland, Tonya Major Gauff
Northwestern Journal of Law & Social Policy
This Student Comment explores the long-standing gender bias inherent in the United States Internal Revenue Code ("IRC"). Specifically, this Comment discusses the bias of the taxing code against secondary earners in dual-income families. Under the IRC, primary earners in a dual-income household are taxed at a much lower rate than secondary earners in the household. As women have historically suffered from lower wages and income than their husbands, the effect of the IRC is to tax married women at much higher rates than married men. Indeed, the average working married woman loses over two-thirds of her pay to income taxes. …
Keynote Address: The Case For A Market Liquidity Provider Of Last Resort, Steven L. Schwarcz
Keynote Address: The Case For A Market Liquidity Provider Of Last Resort, Steven L. Schwarcz
Faculty Scholarship
This short paper, prepared as a keynote address, explains why the credit crunch is fundamentally a story about financial markets, not banks. Its cause was a collapse of securitization and other debt markets, which have become major sources of financing for consumers and companies. Deprived of this financing, consumers have had difficulty purchasing homes and automobiles, and companies have had difficulty purchasing inventory and making capital investments, causing the real economy to shrink. This paper examines how these financial markets should be protected. Although already subject to many prescriptive regulatory protections, these markets evolve faster than regulation can adapt. The …
Deleveraging Microfinance: Principles For Managing Voluntary Debt Workouts Of Microfinance Institutions, Deborah Burand
Deleveraging Microfinance: Principles For Managing Voluntary Debt Workouts Of Microfinance Institutions, Deborah Burand
Articles
This paper focuses on the challenges of responding to a deleveraging of the microfinance sector and offers guidelines for stakeholders in microfinance-regulators, policymakers, investors (debt and equity), donors, and microfinance providers-for how to address these challenges in the context of a microfinance institution debt workout so as to minimize undue disruption and damage to the microfinance sector as a whole.
The Trust In Lending Act: A Case For Expanding Assignee Liability, Summer Krause
The Trust In Lending Act: A Case For Expanding Assignee Liability, Summer Krause
Santa Clara Law Review
No abstract provided.
Credit Rating Agencies, Structured Securities, And The Way Out Of The Abyss, Lois R. Lupica
Credit Rating Agencies, Structured Securities, And The Way Out Of The Abyss, Lois R. Lupica
Faculty Publications
The article examines the role of credit rating agencies (CRAs) in the evolving financial markets, and particularly in connection with the structured finance markets. The movement away from relationship-based lending based on trust, to the less personal capital markets, makes an objective assessment of creditworthiness essential to the structure of legitimate transactions, as well as to the credibility of investor decision-making. Yet, the financial crisis of 2008-2009 revealed that the CRAs seriously underestimated the risk of many complex securities that they rated. As CRAs have devoted a greater share of their resources to develop methods of rating these progressively more …
The Chapter 13 Estate And Its Discontents, David G. Carlson
The Chapter 13 Estate And Its Discontents, David G. Carlson
Articles
Thirty years after the enactment of the Bankruptcy Code, the courts have yet to agree on a theory of the bankruptcy estate in Chapter 13 cases. This is not the fault of the courts. The Bankruptcy Code is contradictory as to the composition of the chapter 13 estate. This article selects one of four possible theories and defends it as the one that does the least violence to the plain meaning of the Bankruptcy Code.
This theory is referred to in this article as the "Divestment Theory," because it holds that, upon confirmation of a chapter 13 plan, the debtor …
The Financial Sector Upheaval Of 2008: Sociological Antecedents And Their Implications For Investment Company Regulation, Larry Barnett
The Financial Sector Upheaval Of 2008: Sociological Antecedents And Their Implications For Investment Company Regulation, Larry Barnett
Larry D Barnett
In 2008, the United States experienced a severe contraction in the availability of credit, a marked reduction in the price of common stocks, and an appreciable increase in interest rates on debt instruments issued by business entities and by state and local governments. The premise of the instant article is that, although this upheaval was economic in form and sudden in occurrence, it stemmed from change that was sociological in character and that started in prior decades. Specifically, the 2008 upheaval in finance is traced to a shift in social values among Americans - namely, an increased prevalence of hedonism …