"The Subprime Crisis: Why One Bad Turn Leads To Another" At Pepperdine University School Of Law,
2012
Pepperdine University
"The Subprime Crisis: Why One Bad Turn Leads To Another" At Pepperdine University School Of Law, Richard A. Epstein
The Journal of Business, Entrepreneurship & the Law
No abstract provided.
Implication Of U.S. Venture Capital Theories For The Korean Venture Ecosystem,
2012
Pepperdine University
Implication Of U.S. Venture Capital Theories For The Korean Venture Ecosystem, Kab Lae Kim
The Journal of Business, Entrepreneurship & the Law
No abstract provided.
Is There A Dual Banking System?,
2012
Pepperdine University
Is There A Dual Banking System?, Carl Felsenfeld, Genci Bilali
The Journal of Business, Entrepreneurship & the Law
There is a fierce controversy being waged today about the status of the historic dual banking system in American law. National banks (banks chartered by the national government) derive their powers from federal law. States, on the other hand, assert that they should be able to control certain aspects of national bank operations such as consumer protection written as state law. While the national banks acknowledge that states do have certain areas where they may control national bank activities--much contract law, for example, which is essentially state law--the national banks also assert a high level of authority--preemption--over the states where …
Social Enterprise: Doing Well By
Doing Good,
2012
Pepperdine University
Social Enterprise: Doing Well By Doing Good, Muhammad Yunus
The Journal of Business, Entrepreneurship & the Law
No abstract provided.
Dodd-Frank And Basel Iii’S Skin In The Game Divergence And Why It Is Good For The International Banking System ,
2012
PricewaterhouseCoopers, LLC
Dodd-Frank And Basel Iii’S Skin In The Game Divergence And Why It Is Good For The International Banking System , Eric Thompson
Global Business Law Review
The recent financial collapse has illuminated many problems with the global financial system. One of these problems was that the financial system developed in a way that allowed banks to profit by simply making more loans instead of quality loans. After the financial collapse, regulators scrambled to enact new legislation to better manage the financial system and avoid the problems that caused the collapse. One way in which regulators attempted to improve the system was to remove the ability of banks to generate limitless loans in which the banks had no stake. Two such pieces of regulation, the Dodd-Frank Wall …
Wall Street And The Financial Collapse: Anatomy Of A Financial Crisis,
2012
University of Tennessee College of Law
Wall Street And The Financial Collapse: Anatomy Of A Financial Crisis, United States Senate. Majority And Minority Staff Report.
AALL Legal Website of the Month
Prepared by the Permanent Subcommittee on Investigations under the Senate Committee on Homeland Security and Governmental Affairs, this report examines the various factors contributing to the financial crisis, such as high risk lending, regulatory failure, inflated credit ratings, and investment bank abuses. It contains case studies on Washington Mutual Bank, Office of Thrift Supervision, Moody’s and Standards & Poor’s, Goldman Sachs and Deutsche Bank.
Investor Protection Meets The Federal Arbitration Act,
2012
University of Cincinnati College of Law
Investor Protection Meets The Federal Arbitration Act, Barbara Black
Faculty Articles and Other Publications
In the past three decades, most recently in AT&T Mobility LLC v. Concepcion, the United States Supreme Court has advanced an aggressive proarbitration campaign, transforming the Federal Arbitration Act (FAA) into a powerful source of anti-consumer substantive arbitration law. In the aftermath of AT&T Mobility, which upheld a prohibition on class actions in a consumer contract despite state law that refused to enforce such provisions on unconscionability grounds, efforts have been made to prohibit investors from bringing class actions or joining claims, including claims under the Securities Exchange Act of 1934 (the Exchange Act). In the most egregious …
Why Mortgage "Formalities" Matter,
2012
Northwestern University School of Law
Why Mortgage "Formalities" Matter, David A. Dana
Faculty Working Papers
This Article argues that adherence to mortgage formalities regarding foreclosure is valuable for expressive reasons and also as a potential deterrent to future undesirable underwriting and securitization practices. The Article reviews how some courts have in effect written procedural requirements for foreclosure out of the law, and asks why these courts have done so and whether lenders' behavior might have been improved during this housing crisis had the state courts uniformly afforded equal respect to the legal rights of homeowners and those of lenders.
Notice Is Not Enough: Why Tila Requires More Than A Letter Of Intent,
2012
University of Michigan Law School
Notice Is Not Enough: Why Tila Requires More Than A Letter Of Intent, Levi Smith
University of Michigan Journal of Law Reform Caveat
The federal Truth in Lending Act (TILA) provides borrowers with protections and remedies against certain actions by lenders. TILA allows, in some circumstances, a borrower to rescind a loan from a lender within a three-year period from when the loan is made. However, a circuit split has developed regarding how the right to rescind must be exercised. Of the circuits that have considered this question, some require a lawsuit to be filed within the three-year period to rescind the loan. Other circuits have held that providing notice of the intent to rescind the loan within the three-year period is sufficient …
A Reflection On Financial Markets, 1 J. Marshall Global Mkt. L.J. 1 (2012),
2012
UIC School of Law
A Reflection On Financial Markets, 1 J. Marshall Global Mkt. L.J. 1 (2012), Leo Melamed
John Marshall Global Markets Law Journal
In 1972 the International Monetary Market (the “IMM”) was launched in order to provide the financial world the same ability as the agriculture industry to manage risk. At the time, no one knew if the IMM would succeed, have any merit, or be accepted by other members of the financial world. The IMM’s commencement was before the age of technology—before the onset of computers. Once computers existed, financial engineers had the ability to electronically allocate risk and the world began to acclimate to the idea of computer-generated financial derivatives. This Article stresses that full disclosure and transparency is dire in …
Product Innovation, Clearing, And Competition Among U.S. Derivatives Exchanges, 1 J. Marshall Global Mkt. L.J. 3 (2012),
2012
UIC School of Law
Product Innovation, Clearing, And Competition Among U.S. Derivatives Exchanges, 1 J. Marshall Global Mkt. L.J. 3 (2012), Michael Gorham
John Marshall Global Markets Law Journal
Futures traders are attracted to market liquidity—the ability to buy and sell without the transaction having a large impact on market price. Market liquidity is associated with a large number of buyers and sellers and high average daily volumes of trading. This Article discusses the reluctance of futures traders to switch to a new exchange which does not have as much liquidity as an older, established exchange and the difficulty that these new exchanges face in acquiring even a marginal portion of the market share. These difficulties arise because these exchanges choose to use a clearing house that they own …
The Matryoshka Doll Principle: Transparent Governance Obligations Of Finra Remain Safely Nested Within The Layers Of Existing Securities Regulation, 1 J. Marshall Global Mkt. L.J. 13 (2012),
2012
UIC School of Law
The Matryoshka Doll Principle: Transparent Governance Obligations Of Finra Remain Safely Nested Within The Layers Of Existing Securities Regulation, 1 J. Marshall Global Mkt. L.J. 13 (2012), Brittany Mcintosh
John Marshall Global Markets Law Journal
This Article compares the U.S. Supreme Court’s holding in Free Enterprise Fund v. PCAOB to the factors used in Lebron v. National Railroad Passenger Corp. when determining whether a corporation is part of the government (and consequently subject to government control and the President’s removal powers). In Free Enterprise, the U.S. Supreme Court considered factors to determine whether or not an agency is a self-regulatory organization (an independent third party agency that is not subject to government control). Under the Free Enterprise test, the Court held that PCAOB was not an SRO (unlike the Financial Industry Regulatory Authority, Inc.) because …
Maybe There Is More Than One Reason They Call It A Derivative Lawsuit – The Implicit Corporate Duty To Hedge, 1 J. Marshall Global Mkt. L.J. 29 (2012),
2012
UIC School of Law
Maybe There Is More Than One Reason They Call It A Derivative Lawsuit – The Implicit Corporate Duty To Hedge, 1 J. Marshall Global Mkt. L.J. 29 (2012), Joseph Michael Reyes
John Marshall Global Markets Law Journal
Derivatives became the primary scapegoat after the financial markets crashed in 2008 and many large investment banks collapsed in the aftermath. Derivatives were thought to be far too risky and not transparent, even though derivatives were originally contrived in order to mitigate risk. Contrary to popular opinion, if used properly, derivatives are very effective in the mitigation of price changes, currency exchange, and interest rate risk. Moreover, the current regulatory landscape encourages the use of derivatives to hedge risk. The current financial environment encompasses the widespread use and acceptance of products that allow hedging to be a common trade practice. …
Dodd-Frank Whistleblower Program: Whistleblower Prevention Strategies, Criticisms, And Future Implications, 1 J. Marshall Global Mkt. L.J. 59 (2012),
2012
UIC School of Law
Dodd-Frank Whistleblower Program: Whistleblower Prevention Strategies, Criticisms, And Future Implications, 1 J. Marshall Global Mkt. L.J. 59 (2012), Florence Shu-Acquaye
John Marshall Global Markets Law Journal
Section 922 of the Dodd-Frank Wall Street Reform and Consumer Protection Act authorized the SEC to create a committee that would be responsible for promulgating and enforcing rules to reward whistleblowers. Such rewards are to be paid from the Investor Protection Fund, which is embodied in SEC Rule 21F. The whistleblower provision is meant to promote corporate whistleblowing by incentivizing the prevention of financial abuse. Critics contend, however, that the whistleblower program fails to encourage corporations to strengthen internal compliance programs; instead, corporations will put more effort into whistleblower prevention strategies in order to prevent SEC enforcement actions. SEC Rule …
Is Canada The New Shangri-La Of Global Securities Class Actions?,
2012
Roger Williams University School of Law
Is Canada The New Shangri-La Of Global Securities Class Actions?, Tanya Monestier
Law Faculty Scholarship
There has been significant academic buzz about Silver v. Imax, an Ontario case certifying a global class of shareholders alleging statutory and common law misrepresentation in connection with a secondary market distribution of shares. Although global class actions on a more limited scale have been certified in Canada prior to Imax, it can now be said that global classes have "officially" arrived in Canada. Many predict that the Imax decision means that Ontario will become the new center for the resolution of global securities disputes. This is particularly so after the United States largely relinquished this role in Morrison v. …
Go West: How The Irs Should Foster Innovation In Its Agents,
2012
Villanova University Charles Widger School of Law
Go West: How The Irs Should Foster Innovation In Its Agents, T. Keith Fogg
Villanova Law Review (1956 - )
No abstract provided.
Ask For Help, Uncle Sam: The Future Of Global Tax Reporting,
2012
Villanova University Charles Widger School of Law
Ask For Help, Uncle Sam: The Future Of Global Tax Reporting, Susan C. Morse
Villanova Law Review (1956 - )
No abstract provided.
Book Review: Derivatives Traders Do What, Again?,
2012
American University Washington College of Law
Book Review: Derivatives Traders Do What, Again?, Heather Hughes
Book Reviews
Critics of financial regulation sing a classic refrain, associated with Friedrich Hayek’s theories: Regulation cannot match the temporality of capitalism, as it is based on analysis of what has already transpired in markets that are perpetually evolving. In Collateral Knowledge, Annelise Riles disrupts the Hayekian critique of financial regulation. She presents collateral in derivatives markets as a technique and an aesthetic practice and then contends that state actors also can deploy private actors’ techniques in response to the temporal nature of markets. There is nothing inherently private about the methods of self-governance that private actors use to accommodate temporality. This …
What Is The Correct Standard Of Prudence In Employer Stock Cases?, 45 J. Marshall L. Rev. 541 (2012),
2012
UIC School of Law
What Is The Correct Standard Of Prudence In Employer Stock Cases?, 45 J. Marshall L. Rev. 541 (2012), José Martin Jara
UIC Law Review
No abstract provided.
A Brave New World: Credit Default Swaps And Voluntary Debt Exchanges, 45 J. Marshall L. Rev. 1227 (2012),
2012
UIC School of Law
A Brave New World: Credit Default Swaps And Voluntary Debt Exchanges, 45 J. Marshall L. Rev. 1227 (2012), Mark Swantek
UIC Law Review
No abstract provided.
