Law and Economics Commons^™

Critical Mass: Restricting Advocates’ Rights Under The Community Reinvestment Act, Ruth S. Uselton

NYLS Law Review

No abstract provided.

First Hudson Capital, Llc V. Seaborn, Kristopher Ferranti

NYLS Law Review

No abstract provided.

Cftc Regulation 1.59 Fails To Adequately Regulate Insider Trading, Gary Rubin

NYLS Law Review

No abstract provided.

In Re Davis, Adam Schlusselberg

NYLS Law Review

No abstract provided.

Racial Disparities In Subprime Home Mortgage Lending In New York City: Meaning And Implications, Richard Marsico, Jane Yoo

NYLS Law Review

No abstract provided.

The Tax Treatment Of Cancelled Interest And Penalties On Consumer Debt, Richard C.E. Beck

NYLS Law Review

No abstract provided.

Deconstructing Equity: Public Ownership, Agency Costs, And Complete Capital Markets, Ronald J. Gilson, Charles K. Whitehead

Faculty Scholarship

The traditional law and finance focus on agency costs presumes that the premise that diversified public shareholders are the cheapest risk bearers is immutable. In this Essay, we raise the possibility that changes in the capital markets have called this premise into question, drawn into sharp relief by the recent private equity wave in which the size and range of public companies being taken private expanded signficantly. In brief, we argue that private owners, in increasingly complete markets, can transfer risk in discrete slices to counterparties who, in turn, can manage or otherwise diversify away those risks they choose to …

Global Network Finance: Organizational Hedging In Times Of Uncertainty, Katharina Pistor

Faculty Scholarship

The global financial crisis that began in 2007 revealed a fundamental weakness in the global financial system: Extensive financial interdependence of financial relations unmatched by a governance regime of similar reach. As multinational banks sought to fortify their capital base in the wake of the unfolding crisis, Sovereign wealth Funds (SWFs) and the banks’ home governments have become mutual stakeholders in some of the largest financial intermediaries with global reach. From the multitude of individual transactions has emerged a network of equity ties that spans the globe. These ties bridge institutional practices and governance regimes that previously operated largely independently …

Making Sense Of Nation-Level Bankruptcy Filing Rates, Ronald J. Mann

Faculty Scholarship

Increased rates of consumer bankruptcy filings are a policy concern around the world. It is not easy, however, to explain the variations in per capita filing rates from country to country. Some of the variation is attributable to different levels of indebtedness. Some is attributable to different cultural attitudes about financial failure. And some is attributable to the accessibility of the legal system as a remedy for irremediable financial distress.

This paper analyzes the differences in nation-level, per capita filing rates. I start with a model that uses economic variables to explain nation-level variations in filing rates. The economic and …