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Articles 1 - 2 of 2
Full-Text Articles in Contracts
Dual Rationality Of Same-Sex Marriage: Creation Of New Rights In The Shadow Of Incomplete Contract Paradigm, Saby Ghoshray
Dual Rationality Of Same-Sex Marriage: Creation Of New Rights In The Shadow Of Incomplete Contract Paradigm, Saby Ghoshray
University of Massachusetts Law Review
In an effort to reconcile the inconsistency between liberal ideals and inequitable adjudication of marriage rights amongst our citizens, this article will seek answers to these issues. By straddling the contractual confines of marriage via law and economic analysis, Part II of the article explores the contractual paradigm of marriage to examine whether the framework is independent of sexual orientation and it the deliberately incomplete nature of marriage can provide consistencies for all types of marriages. Part III examines whether the private aspiration of marriage should necessarily be linked with public consequences by evaluating the impact of marriage’s social cost …
Tax Naked Credit Default Swaps For What They Are: Legalized Gambling, James Blakey
Tax Naked Credit Default Swaps For What They Are: Legalized Gambling, James Blakey
University of Massachusetts Law Review
Credit default swaps (CDSs) gained notoriety for their role in the global financial crisis. In late 2011, the IRS proposed new regulations that would classify CDSs bought by someone who does not own the credit, known as "naked" CDSs, as "financial instruments" and thereby qualify them for the highly beneficial capital gains tax treatment. This classification is incorrect. Naked CDSs, which constitute about 80% or more of all CDSs, are not financial instruments at all. Rather, this article argues, they are gambling wagers -- the winnings on which are taxable at the ordinary income tax rate. This is not the …