Law Commons^™

European Banking Union C: Cross-Border Resolution–Fortis Group, Rosalind Z. Wiggins, Natalia Tente, Andrew Metrick

Journal of Financial Crises

In August 2007, Fortis Group, Belgium’s largest bank, acquired the Dutch operations of ABN AMRO, becoming the fifth largest bank in Europe. Despite its size and its significant operations in the Benelux countries, Fortis struggled to integrate ABN AMRO. Fortis’s situation worsened with the crash of the US subprime market, which impacted its subprime mortgage portfolio. By July 2008, Fortis’s CEO had stepped down, its stock had lost 70% of its value, and it was on the verge of collapse due to a severe liquidity crisis. The governments of Belgium, Luxembourg, and the Netherlands quickly came together and agreed to …

European Banking Union B: The Single Resolution Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

The options available to European governments to respond to a multinational bank in financial trouble have been severely limited since each country has its own unique laws and authority applicable to banks operating within its borders. The Bank Recovery & Resolution Directive (BRRD), which was adopted in 2013 and scheduled to go into effect January 2015, harmonizes rules across EU countries for how to restructure and resolve failing banks. However, the directive would maintain the existing system of individual national resolution authorities and resolution funds. To better secure the Eurozone banks and to compliment the Single Supervisory Mechanism, which was …

European Banking Union A: The Single Supervisory Mechanism, Rosalind Z. Wiggins, Michael Wedow, Andrew Metrick

Journal of Financial Crises

At the peak of the Global Financial Crisis in fall 2008, each of the 27 member states in the European Union (EU) set many of its own banking rules and had its own bank regulators and supervisors. The crisis made the shortcomings of this decentralized approach obvious, and since its formation in January 2011, the European Banking Authority (EBA) has been developing a “Single Rulebook” that will harmonize banking rules across the EU countries. In June 2012, European leaders went even further, committing to a banking union that would better coordinate supervision of banks in the then 18-country Eurozone. A …

European Central Bank Tools And Policy Actions B: Asset Purchase Programs, Chase P. Ross, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

Beginning in August 2007, the European Central Bank (ECB) used standard and non-standard monetary policies as the global financial markets progressed from initial turmoil to a widespread sovereign debt crisis. This case describes the key features of the ECB’s asset purchase programs throughout the Global Financial Crisis and subsequent European sovereign debt crisis. These programs include the Covered Bond Purchase Programs (CBPP1, CBPP2, CBPP3), Securities Markets Program (SMP), Outright Monetary Transactions (OMT), Asset-backed Securities Purchase Program (ABSPP) and the Public Sector Purchase Program (PSPP).

In combating the crises, the ECB designed various innovative programs which it successively employed as the …

European Central Bank Tools And Policy Actions A: Open Market Operations, Collateral Expansion And Standing Facilities, Chase P. Ross, Rosalind Z. Wiggins, Andrew Metrick

Journal of Financial Crises

Beginning in August 2007, the European Central Bank (ECB) responded to market turmoil with a variety of standard and non-standard monetary policy tools. This case discusses the operational framework of the ECB’s open market operation tools and standing facilities before and during the financial crisis. Specifically, this case describes the ECB’s use of its main refinancing and longer-term refinancing operations, the expansion of collateral eligible for use in Eurosystem credit operations, and the ECB’s standing facilities, including its marginal lending and deposit facilities.

Ireland And Iceland In Crisis D: Similarities And Differences, Arwin G. Zeissler, Daisuke Ikeda, Andrew Metrick

Journal of Financial Crises

On September 29, 2008—two weeks after the collapse of Lehman Brothers—the government of Ireland took the bold step of guaranteeing almost all liabilities of the country’s major banks. The total amount guaranteed by the government was more than double Ireland’s gross domestic product, but none of the banks were immediately nationalized. The Icelandic banking system also collapsed in 2008, just one week after the Irish government issued its comprehensive guarantee. In contrast to the Irish response, the Icelandic government did not guarantee all bank debt. Instead, the Icelandic government controversially split each of the three major banks into a new …

Ireland And Iceland In Crisis C: Iceland’S Landsbanki Icesave, Arwin G. Zeissler, Thomas Piontek, Andrew Metrick

Journal of Financial Crises

At year-end 2005, almost all of the total assets of Iceland’s banking system were concentrated in just three banks (Glitnir, Kaupthing, and Landsbanki). These banks were criticized by certain financial analysts in early 2006 for being overly dependent on wholesale funding, much of it short-term, that could easily disappear if creditors’ confidence in these banks faltered for any reason. Landsbanki, followed later by Kaupthing and then Glitnir, responded to this criticism and replaced part of their wholesale funding by using online accounts to gather deposits from individuals across Europe. In Landsbanki’s case, these new deposits were marketed under the name …

Ireland And Iceland In Crisis B: Decreasing Loan Loss Provisions In Ireland, Arwin G. Zeissler, Andrew Metrick

Journal of Financial Crises

All public companies in the European Union, including Ireland’s major banks, were required to adopt IAS 39 for their annual accounting periods beginning on or after January 1, 2005. Under the “incurred loss” model of IAS 39, banks could set aside reserves for loan losses only when objective evidence existed that a loan was impaired, not in anticipation of future losses. As a result, Irish banks saw their aggregate reserve for bad loans drop from 1.2% of loan balances at the end of 2000 to only 0.4% by 2006-07, just before the collapse of the banking industry caused loan losses …

Ireland And Iceland In Crisis A: Increasing Risk In Ireland, Arwin G. Zeissler, Karen Braun-Munzinger, Andrew Metrick

Journal of Financial Crises

Ireland went from being the poorest member of the European Economic Community in 1973 to enjoying the second highest per-capita income among European countries by 2007. Healthy growth in the 1990s eventually gave way to a concentrated boom in property-related lending in the 2000s. The growth in the aggregate loan balances of Ireland’s six major banks greatly exceeded the growth in gross domestic product (GDP); as a result, bank loan balances grew from 1.1 times GDP in 2000 to over 2.0 times GDP by 2007. Given the small size of the domestic retail depositor base, the Irish banks increasingly funded …

Week Of November 11, 2019 - November 15, 2019, Benjamin N. Cardozo School Of Law

Today at Cardozo 2019

Events occurring this week have been sponsored by:

• Cardozo Entertainment Law Society
• Cardozo Environmental Law Society (CELS)
• Cardozo FAME Center
• Cardozo Fashion Law Society
• Cardozo Federalist Society
• Cardozo For Immigrants' Rights and Equality (FIRE)
• Cardozo International Comparative, Policy & Ethics Law Review
• Cardozo Law Institute in Holocaust and Human Rights (CLIHHR)
• Cardozo Law Student Bar Association
• Cardozo Office of Diversity & Inclusion
• Cardozo OUTLaw
• Cardozo Startup Society
• Chabad at Cardozo
• Floersheimer Center for Constitutional Democracy
• Heyman Center on Corporate Law and Governance
• Indie Film Clinic
• Intellectual Property Law Society (IPLS)
• Jewish Law Students Association (JLSA)
• Louis D. Brandeis Center for …

Mmu: 11/11/19–11/17/19, Student Bar Association

Monday Morning Update

This Week @ NDLS

• Monday Morning Message from President Patel
• Transnational Prosecutions
• SCELF's Baseball Salary Arbitration Final Championship Round
• Information Session for Notre Dame's Clinics
• 1L Job Application Process
• Daily Commons Menu Specials
• Daily Mass Schedule
• Game Night
• Morning Prayer with CLS
• SCELF: Under Armour Rep to speak to Mendoza and NDLS
• Contempt of Grace: The Theological and Legal Error of William Barr’s Understanding of Religious Freedom
• Bar Prep Courses – What’s the Difference?
• [Rescheduled] Health Insurance Qs Drop-In
• DACA Oral Arguments Lunch
• “The Effects of the Pill upon Natural and Human Ecology”
• Lambda Legal: A Civil Rights Leader for …

Accounting For Adolescents’ Twice Diminished Culpability In California’S Felony Murder Rule, Raychel Teasdale

Loyola of Los Angeles Law Review

In 2018, the California legislature passed S.B. 1437 to narrow California’s felony murder rule and theoretically apply the rule only to those with the greatest culpability in a murder. However, whether intentionally or negligently, the law leaves room to disproportionally and unjustly affect adolescents by charging those with “reckless indifference” with first-degree murder. Imbedded in psychology and neuroscience research is the conclusion that adolescent brain structure and function are still rapidly developing. As a result, adolescents are less able to weigh the risks of their actions, resist peer pressure, regulate their emotions, and control their impulses. Therefore, this Note argues …

Vol. 57, No. 11 (November 11, 2019)

Indiana Law Annotated

No abstract provided.

Judge Issues Temporary Restraining Order Against Proclamation Barring Uninsured Immigrants, Peter Margulies

Law Faculty Scholarship

No abstract provided.

The Anti-Fantasy Sport: Should Investing Directly In Athletes Be Legal?, Joshua Burton

Cardozo Arts & Entertainment Law Journal (AELJ) Blog

Nowadays, sports fans are just a tweet or an Instagram comment from getting to communicate directly with their favorite athletes. As social media usage and athlete salaries have gone up, the barriers between fan and player have decreased, making it easier than ever for fans to truly feel connected to the players they watch in person or on TV. But, if Spencer Dinwiddie of the NBA’s Brooklyn Nets could have his way, fans could even buy a portion of his recent three-year, $34 million contract extension. When Dinwiddie announced his plans to sell Professional Athlete Investment Tokens (“PAInT” for short) …

Lizzo “Truth Hurts” Co-Author Allegations, Justin Levy

Cardozo Arts & Entertainment Law Journal (AELJ) Blog

Famous recording artist, Lizzo, filed a preemptive lawsuit on October 23rd, 2019 to disprove allegations that Justin and Jeramiah Raisen and Justin “Yves” Rothman deserve author credit for her song, “Truth Hurts.”Lizzo is seeking a declaratory judgment that the alleged authors have no interest in the copyright or right to share profits. The Raisens and Rothman claim that the lyric “I just took a DNA test, turns out I’m 100% that bitch”, which originated from a popular internet meme, was a part of an unreleased demo, which Lizzo recorded at the Raisen’s studio, and on the final track. Lizzo claims …

Cardozo Ip Law Society Submits Comment To The Uspto Regarding Ai Inventions, Cardozo Arts & Entertainment Law Journal

Cardozo Arts & Entertainment Law Journal (AELJ) Blog

Students from Benjamin N. Cardozo School of Law’s Intellectual Property Law Society (IPLS) held a presentation on Artificial Intelligence (AI) Inventions and Patenting on October 28th for the purpose of collecting students’ thoughts on the regulation of AI inventions. Members of IPLS discussed AI inventions, shared examples of modern AI inventors and methods, and looked over the issues presented in the USPTO’s Request For Comment (RFC). The primary goal of the event was to write a comment that suggests policies that facilitate innovation, provide a practical standard, and prevent potential abuse. The following is the comment that was drafted by …

Contracts Formed By Software: When Things Go Wrong, Vincent Ooi

Research Collection Yong Pung How School Of Law

The use of software in contract formation is likely to become increasingly pervasive in light of the digital economy. Consequently, software can also be expected to exhibit greater autonomy and take on increasingly complex transactions and contract negotiations. It is important that a legally coherent, fair, certain and economically justified approach be taken to regulate such contracts.A ‘contracting problem’ arises when software is used to autonomously enter into contracts without human input. The formation of a valid contract requires, inter alia, an agreement between two or more parties, where each party exhibits an objective intention to be legally bound (the …

Leading Differently Across Difference: A National Conference On Training Lawyers As Leaders

Leading Differently Across Difference: A National Conference on Training Lawyers as Leaders

No abstract provided.

Proof Of Claim Form: John Doe 188b, Hall & Monagle, Llc

Proofs of Claims

No abstract provided.

Cardozo Law News Brief: November 8, 2019, Benjamin N. Cardozo School Of Law

Cardozo Law News Brief 2019

Featured Faculty:

• Jessica Roth
• Ekow N. Yankah
• Kate Shaw
• Myriam Gilles
• Suzanne Stone
• Lela Love
• Richard Weisberg
• Michel Rosenfeld
• Paul Gugliuzza

Campus News:

• Professor Pamela Samuelson of Berkeley Law Headlines Distinguished Lecture in IP
• Heyman Center Hosts "Antitrust in the Modern Economy"

Events:

• The FAME Center Presents: One of Us
• International Comparative, Policy, and Ethics Law Review Fall Symposium
• The FAME Center and The Recording Academy™ Present-Entertainment Law Initiative®
• Invisible: Gay Women In Southern Music Test Screening and Panel
• 60 Years of Real Estate Wisdom Stephen Siegel in conversation with Professor Stewart Sterk
• The Fight Against Counterfeiting: Attorneys on the …

Got Milk: The Labeling Crisis Taking Over The Nation, Eric Harmon

SLU Law Journal Online

The article by Eric Harmon is about the regulatory definition of milk, which defines it narrowly, and the FDA’s potential action to begin enforcing it. The article is focused on that potential and its impact on the plant-based milk industry and labeling of plant-based milks.

Sales Tax For Remote Sellers: Missouri’S Response In A Post-Wayfair World, Hannah Meehan

SLU Law Journal Online

Hannah Meehan discusses the removal of the "physical presence" requirement following South Dakota v. Wayfair and Missouri's potential responses.

Mary Ellen Robertson Petitioner/Appellee, V. Michael Stevens Respondent/Appellant : Brief Of Appellant, Utah Court Of Appeals

Utah Court of Appeals Briefs (2007– 2019)

SUPPLEMENTAL BRIEF OF APPELLANT

David D. Gukeisen, Petitioner/ Appellant V. Utah Department Of Public Safety, Driver License Division, Respondent/ Appellee : Reply Brief, Utah Court Of Appeals

Utah Court of Appeals Briefs (2007– 2019)

Appeal from the Third Judicial District Court, Salt Lake County, Utah, Case # 180903 729 Honorable Patrick Corum, presiding

The Quiet Undoing: How Regional Electricity Market Reforms Threaten Clean Energy Goals, Shelley Welton, Danny Cullenward

Faculty Publications

In a series of largely unnoticed but extremely consequential moves, two regional electricity market operators are pursuing reforms to make it more difficult for states to achieve their clean energy goals. The federal energy regulator, FERC, has already approved one such reform and ordered a second market operator to go farther in punishing state-supported clean energy resources than it had initially proposed. In this Essay, we bring to light the ways in which the intricate, technical reforms underway in regional electricity markets threaten state climate change objectives and the durability of FERC’s regional market constructs. If FERC allows private market …

Law School News: Grappling With Law On Campus Sexual Misconduct 11-08-2019, Michael M. Bowden

Life of the Law School (1993- )

No abstract provided.

Michael Stevens, Appellant, V. Mary Ellen Robertson, Appellee : Brief Of Appellee, Utah Court Of Appeals

Utah Court of Appeals Briefs (2007– 2019)

APPELLEE'S SUPPLEMENTAL
BRIEF RE: JURISDICTION

Tensions And Exclusions: The Knotty Policy Encounter Between Sexual And Reproductive Health And Rights And Hiv, Susana T. Fried, Aziza Ahmed, Luisa Cabal

Faculty Scholarship

The International Conference on Population and Development or ICPD (Cairo, 1994) provided a global policy framework centred on reproductive rights instead of population control. Global standards on sexual and reproductive health and rights (SRHR) and on HIV rapidly expanded throughout the 1990s.1 Considerable activist mobilisation in both arenas advanced health issues as politically salient decision-making venues where human rights and health advocacy were urgently needed, rather than scientific and technical showcases.

The ICPD, quickly followed by the Fourth World Conference on Women (1995), stressed that reproductive rights are anchored in governments’ human rights obligations and development commitments, including to …

One-Legged Contracting, Ian Ayres, Gregory Klass

Georgetown Law Faculty Publications and Other Works

This response to Robin Bradley Kar & Margaret Jane Radin, Pseudo-Contract and Shared Meaning Analysis, 132 Harv. L. Rev. 1135 (2019), makes three broad points. It criticizes as arbitrary and essentializing Kar and Radin’s insistence of shared meaning as the core of contracting. It argues that even if shared meaning were the sine qua non of contracting, their proposal fails to achieve it because it does not assure that the terms would be cooperatively communicated. And it argues that their proposed enforcement standard would in practice severely limit freedom of contract and likely reduce consumer welfare. There is a …