Banking and Finance Law Commons^™

Evil Has A New Name (And A New Narrative): Bernard Madoff, A. Christine Hurt

Faculty Scholarship

No abstract provided.

Virtual Intermediaries Ii - Canadian Solutions (Drop Shipments) Compared With Us, Japanese & Eu Approaches, Richard Thompson Ainsworth

Faculty Scholarship

Virtual travel agents are opportunistic internet-based travel agents. They are intermediary businesses that create mutually beneficial three-party transactions that secure accommodations for a traveler that: (a) meet the basic needs of the traveler (at a discount), (b) fills vacant room for accommodation retailers with guests that pay below market, but above standard costs, and (c) profit from the extra cash, the margin in the transaction.

The virtual intermediary’s eye is always on the discount and the cash flow. One of the things that catches their attention are the accommodation taxes which they collect from the traveler in advance and remit …

Law And Finance: Inaccurate, Incomplete, And Important, Ruth V. Aguilera, Cynthia A. Williams

BYU Law Review

No abstract provided.

Law And Financial Development: What We Are Learning From Time-Series Evidence, John Armour, Simon Deakin, Viviana Mollica, Mathias Siems

BYU Law Review

No abstract provided.

Rethinking The "Law And Finance" Paradigm, Katharina Pistor

BYU Law Review

No abstract provided.

Home Foreclosures: Will Voluntary Mortgage Modification Help Families Save Their Homes? Part Ii? : Hearing Before The H. Comm. On The Judiciary Subcomm. On Commercial And Administrative Law, 111th Cong., Dec. 11, 2009 (Statement Of Associate Professor Adam J. Levitin, Geo. U. L. Center), Adam J. Levitin

Testimony Before Congress

The results to date from MHAP are deeply disappointing. Even the most optimistic view of HAMP and HARP’s potential would now project the programs as having only a minor impact on the foreclosure crisis. Until and unless the problems of unemployment; negative equity, and servicer capacity, incentives, and contract restrictions are addressed, we are unlikely to see noticeably different results. These issues cannot be addressed within the current structure of HAMP.

Unfortunately, none of the solutions for foreclosures due to unemployment are particularly satisfying, and without addressing unemployment, foreclosures will remain at elevated levels. Bankruptcy presents possible solutions to negative …

Market Definition, Jonathan Baker, Lawrence White, Eduardo Perez Motta, Joseph Simons

Presentations

The Department of Justice and the Federal Trade Commission (FTC) solicited public comments and held joint public workshops to explore the possibility of updating the Horizontal Merger Guidelines that are used by both agencies to evaluate the potential competitive effects of mergers and acquistions. The goal of the workshops was to determine whether the Horizontal Merger Guidelines accurately reflect the current practice of merger review at the Department and the FTC as well as to take into account legal and economic developments that have occurred since the last significant Guidelines revision in 1992.

Risky Ventures: The Impact Of Irs Health Care Joint Venture Policy, Roger P. Meyers

University of Michigan Journal of Law Reform

IRS oversight of joint ventures between exempt and for-profit organizations has undergone substantial change over the past thirty years. This change has important consequences for the health care industry, where joint ventures have grown increasingly common. In the face of unclear guidance and aggressive enforcement of exemption-policing tools such as the private benefit doctrine and the control test, a hospital risks revocation of its tax-exempt status, or liability for unrelated business income tax, when it engages in a joint venture directly. It may be able to eliminate this risk by operating the same joint venture through a for-profit subsidiary; however, …

Private Fund Adviser Registration Act Hr-3818, Anita Krug

All Faculty Scholarship

This paper comments on the Obama administration's 2009 proposal for the regulation of hedge fund investment advisers.

A Round Peg For A Square Hole: The Mismatch Between Subprime Borrowers And Federal Mortgage Remedies, Arielle L. Katzman

Cardozo Law Review

No abstract provided.

In Re Sigma Finance Corporation (In Administrative Receivership) And In Re The Insolvency Act 1986 [2009] Uksc 2 (29 Oct 09): Commentary, Chao-Hung Christopher Chen

Research Collection Yong Pung How School Of Law

The case of Sigma Finance Corp was about the priority of payment under a Security Trust Deed for a structured investment vehicle (SIV). In essence, the key issue in the case was about whether debts due within the ‘realisation period’ after the occurrence of an ‘enforcement event’ should be paid ahead of other shortterm creditors.

Ernst Freund, Felix Frankfurter And The American Rechtsstaat: A Transatlantic Shipwreck, 1894-1932, Daniel R. Ernst

Georgetown Law Faculty Publications and Other Works

From the passage of the Interstate Commerce Act of 1887 through the New Deal, American legislators commonly endowed administrative agencies with broad discretionary power. They did so over the objections of an intellectual founder of the American administrative state. The American-born, German-educated lawyer and political scientist Ernst Freund developed an Americanized version of the Rechtsstaat—a government bound by fixed and definite rules—in an impressive body of scholarship between 1894 and 1915. In 1920 he eagerly took up an offer from the Commonwealth Fund to finance a comprehensive study of administration in the United States. Here was his chance to show …

Regulate Otc Derivatives By Deregulating Them: Response To Comments, Lynn A. Stout

Cornell Law Faculty Publications

Response to comments by Jean Helwege, Peter Wallison, and Craig Pirrong on the author's article, "Regulate OTC Derivatives By Deregulating Them." Article predates the author's affiliation with Cornell Law School.

Voting With Their Feet And Dollars: The Role Of Investors And The Influence Of The Mutual Fund Market In Regulating Fees, Anna C. Leist

William & Mary Law Review

No abstract provided.

Regulate Otc Derivatives By Deregulating Them, Lynn A. Stout

Cornell Law Faculty Publications

When credit markets froze up in the fall of 2008, many economists pronounced the crisis inexplicable and unforeseeable. Lawyers who specialize in financial regulation, and especially the small cadre who specialize in derivatives regulation, knew better.That's because the roots of the catastrophe lay not in changes in the markets, but changes in the law. In particular, the credit crisis can be traced to Congress's 2000 passage of the Commodity Futures Modernization Act, which radically altered the traditional legal approach to financial derivatives.

This shift in the legal treatment of financial derivatives has brought the banking system to its knees. The …

Nonpatentability Of Business Methods: Legal And Economic Analysis, Peter Menell, Michael J. Meurer

Faculty Scholarship

In this brief filed in Bilski vs. Kappos, pending before the U.S. Supreme Court, we argue that the "useful Arts" limitation of the the Intellectual Property Clause of the U.S.Constitution restricts the scope of Congress's patent power to technological advances. Beyond this constitutional limitation, Congress has not extended patent protection to business methods. The subject matter provision of the 1952 Patent Act merely codified existing subject matter categories and limitations, including the exclusion of business methods. The First Inventor Defense Act of 1999 did not alter this limitation on patentable subject matter. It did not amend the subject matter provision. …

Nice Guys Finish Last: New Yorkers Leave Our Assets Exposed When We Plan For Forever, Audrey Rose Herman

Buffalo Journal of Gender, Law & Social Policy

No abstract provided.

The End Of The (Virtual) World, Joshua A.T. Fairfield

West Virginia Law Review

No abstract provided.

Governing Corporate Compliance, Miriam H. Baer

Faculty Scholarship

No abstract provided.

A Superfund Solution For An Economic Love Canal, Mehmet K. Konar-Steenberg

Pace Law Review

No abstract provided.

Canceling The Deal: Two Models Of Material Adverse Change Clauses In Business Combination Agreements, Robert T. Miller

Cardozo Law Review

In any large corporate acquisition, there is a delay between the time the parties enter into a merger agreement and the time the transaction is effected and the purchase price is paid. One effect of this delay is that the business or financial condition of one of the parties may deteriorate before the deal closes. When this happens to the target in a cash deal or to either party in a stock deal, the counterparty may conclude that the transaction is no longer attractive. Merger agreements typically protect counterparties against such contingencies through material adverse change (MAC) clauses. Under the …

When Securitization Complicates The Issue: What Are The Homeowner's Defenses To Foreclosure?, Victoria V. Corder

Washington and Lee Journal of Civil Rights and Social Justice

No abstract provided.

Smoke And Mirrors: Predatory Lending And The Subprime Mortgage Loan Securitization Pyramid Scheme, Navid Vazire

Pace Law Review

No abstract provided.

Mortgage Market Reform And The Fallacy Of Self-Correcting Markets, Robin Paul Malloy

Pace Law Review

No abstract provided.

Disquiet On The Home Front: Disturbing Crises In The Nation's Markets And Institutions, Shelby D. Green

Pace Law Review

No abstract provided.

Unsafe Loans In A Deregulated U.S. Mortgage Market, Vincent Di Lorenzo

Pace Law Review

No abstract provided.

Can't Live Without Air: Title Insurance And The Bursting Of The Real Estate Bubble, Marvin N. Bagwell

Pace Law Review

No abstract provided.

State Subprime Lending Litigation And Federal Preemption: Toward A National Standard, Alan H. Scheiner

Pace Law Review

No abstract provided.

The Importance Of Deceptive Practice Enforcement In Financial Institution Regulation, Prentiss Cox

Pace Law Review

No abstract provided.

A Glance At The Impact Of The Subprime Mortgage Crisis On The Title Insurance Industry, Suzanne M. Garcia

Pace Law Review

No abstract provided.