Helping Law Catch Up to Markets

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Publisher :
ISBN 13 :
Total Pages : 55 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Helping Law Catch Up to Markets by : Jonathan R. Macey

Download or read book Helping Law Catch Up to Markets written by Jonathan R. Macey and published by . This book was released on 2009 with total page 55 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much of the blame for the current financial crisis is attributable to problems in the subprime mortgage market. In this Article we argue that changes in the nature of the mortgage contract make it both legally plausible and normatively desirable that subprime mortgages brokers be treated as securities broker-dealers for the purposes of the Securities Act of 1933 and the Securities and Exchange Act of 1934. Modern subprime mortgages are, in large part, investments that contain imbedded options, and are not subject to any alternative comprehensive regulatory regime. Thus, they should qualify as quot;notesquot; under the Securities Act definition and the Supreme Court's Reves test, and expose their brokers to Rule 10b-5 oversight. In the alternative, we argue that the emergence of securitization as the primary process by which mortgages are financed provides a second, independent analytical basis for our theory that subprime mortgage financings should be subject to securities law: Mortgage financings qualify for the protections of rules such as SEC Rule 10b-5 because they occur quot;in connection with the purchase or sale of a security,quot; namely, the mortgage-backed security that is created and funded on the basis of the cash flows from the mortgagors' payments on their subprime mortgages.Were the SEC to take control of subprime mortgages brokers, rules that forbid the sale of financial instruments to any person unless investing in those instruments is appropriate (suitable) to the investment needs and risk tolerance of that investor would come into play, oversight that would have avoided or greatly mitigated the current crisis. In describing what suitability would do for the mortgage market, we make a novel distinction between quot;productquot; and quot;transaction formquot; suitability in our analysis of the suitability rules. We argue that transaction form suitability is the appropriate legal theory to use when pursuing people who have unscrupulously sold subprime mortgages to unsophisticated investors. In closing, we discuss reasons why we believe the SEC has not tried to exert this authority to date, and address the likely result of a legal challenge in the event the SEC were to adopt our proposal by rule.

Runaway Technology

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Publisher : Cambridge University Press
ISBN 13 : 1108426123
Total Pages : 307 pages
Book Rating : 4.1/5 (84 download)

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Book Synopsis Runaway Technology by : Joshua A. T. Fairfield

Download or read book Runaway Technology written by Joshua A. T. Fairfield and published by Cambridge University Press. This book was released on 2021-02-25 with total page 307 pages. Available in PDF, EPUB and Kindle. Book excerpt: Law can keep up with rapid technological change by reflecting our evolving understanding of how humans use language to cooperate.

Law is a Buyer's Market

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Publisher :
ISBN 13 : 9780995348806
Total Pages : 244 pages
Book Rating : 4.3/5 (488 download)

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Book Synopsis Law is a Buyer's Market by : Jordan Furlong

Download or read book Law is a Buyer's Market written by Jordan Furlong and published by . This book was released on 2017 with total page 244 pages. Available in PDF, EPUB and Kindle. Book excerpt: Law has become a buyer's market, and it's never going back. Re-envisioning the purpose of law firms and the role of lawyers, Jordan Furlong has designed a transformative client-first law firm that rethinks the business model, culture, service, competitiveness, growth strategies, diversity, and leadership of modern legal enterprises.

Model Rules of Professional Conduct

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Publisher : American Bar Association
ISBN 13 : 9781590318737
Total Pages : 216 pages
Book Rating : 4.3/5 (187 download)

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Book Synopsis Model Rules of Professional Conduct by : American Bar Association. House of Delegates

Download or read book Model Rules of Professional Conduct written by American Bar Association. House of Delegates and published by American Bar Association. This book was released on 2007 with total page 216 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Model Rules of Professional Conduct provides an up-to-date resource for information on legal ethics. Federal, state and local courts in all jurisdictions look to the Rules for guidance in solving lawyer malpractice cases, disciplinary actions, disqualification issues, sanctions questions and much more. In this volume, black-letter Rules of Professional Conduct are followed by numbered Comments that explain each Rule's purpose and provide suggestions for its practical application. The Rules will help you identify proper conduct in a variety of given situations, review those instances where discretionary action is possible, and define the nature of the relationship between you and your clients, colleagues and the courts.

Hedge Funds and the Financial Market

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Publisher :
ISBN 13 :
Total Pages : 204 pages
Book Rating : 4.:/5 (327 download)

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Book Synopsis Hedge Funds and the Financial Market by : United States. Congress. House. Committee on Oversight and Government Reform

Download or read book Hedge Funds and the Financial Market written by United States. Congress. House. Committee on Oversight and Government Reform and published by . This book was released on 2010 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Creditworthiness and 'Responsible Credit'

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Publisher : BRILL
ISBN 13 : 900452505X
Total Pages : 287 pages
Book Rating : 4.0/5 (45 download)

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Book Synopsis Creditworthiness and 'Responsible Credit' by : Noah Vardi

Download or read book Creditworthiness and 'Responsible Credit' written by Noah Vardi and published by BRILL. This book was released on 2022-09-12 with total page 287 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this comparative study in US and EU law, Noah Vardi questions whether there is a legally enforceable duty to lend and borrow credit in a “responsible” manner and clarifies the associated notion of “creditworthiness.”

Law and Macroeconomics

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Publisher : Harvard University Press
ISBN 13 : 0674976053
Total Pages : 281 pages
Book Rating : 4.6/5 (749 download)

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Book Synopsis Law and Macroeconomics by : Yair Listokin

Download or read book Law and Macroeconomics written by Yair Listokin and published by Harvard University Press. This book was released on 2019-03-11 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: After 2008, private-sector spending took a decade to recover. Yair Listokin thinks we can respond more quickly to the next meltdown by reviving and refashioning a policy approach, used in the New Deal, to harness law’s ability to function as a macroeconomic tool, stimulating or relieving demand as required under certain crisis conditions.

Retirement Guardrails

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Publisher : Cambridge University Press
ISBN 13 : 1009007467
Total Pages : 213 pages
Book Rating : 4.0/5 (9 download)

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Book Synopsis Retirement Guardrails by : Ian Ayres

Download or read book Retirement Guardrails written by Ian Ayres and published by Cambridge University Press. This book was released on 2023-05-31 with total page 213 pages. Available in PDF, EPUB and Kindle. Book excerpt: Scores of lawsuits have pushed retirement plan sponsors to shorter, easier-to-navigate menus, but – as Ian Ayres and Quinn Curtis argue in this work – we've only scratched the surface of retirement plan design. Using participant-level plan data and straightforward tests, Ayres and Curtis show how plan sponsors can monitor plans for likely allocation mistakes and adapt menus to encourage success. Beginning with an overview of the problem of high costs and the first empirical evidence on retirement plan fee lawsuits, they offer an overview of the current plan landscape. They then show, based on reforms to a real plan, how streamlining menus, eliminating pitfalls, and adopting static and dynamic limits on participant allocations to certain risky assets or 'guardrails' can reduce mistakes and lead to better retirement outcomes. Focusing on plausible, easy-to-implement interventions, Retirement Guardrails shows that fiduciaries need not be limited to screening out funds but can design menus to actively promote good choices.

Code

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Publisher : Createspace Independent Publishing Platform
ISBN 13 : 9781537290904
Total Pages : 378 pages
Book Rating : 4.2/5 (99 download)

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Book Synopsis Code by : Director Edmond J Safra Center for Ethics and Roy L Furman Professorship of Law Lawrence Lessig

Download or read book Code written by Director Edmond J Safra Center for Ethics and Roy L Furman Professorship of Law Lawrence Lessig and published by Createspace Independent Publishing Platform. This book was released on 2016-08-31 with total page 378 pages. Available in PDF, EPUB and Kindle. Book excerpt: There's a common belief that cyberspace cannot be regulated-that it is, in its very essence, immune from the government's (or anyone else's) control.Code argues that this belief is wrong. It is not in the nature of cyberspace to be unregulable; cyberspace has no "nature." It only has code-the software and hardware that make cyberspace what it is. That code can create a place of freedom-as the original architecture of the Net did-or a place of exquisitely oppressive control.If we miss this point, then we will miss how cyberspace is changing. Under the influence of commerce, cyberpsace is becoming a highly regulable space, where our behavior is much more tightly controlled than in real space.But that's not inevitable either. We can-we must-choose what kind of cyberspace we want and what freedoms we will guarantee. These choices are all about architecture: about what kind of code will govern cyberspace, and who will control it. In this realm, code is the most significant form of law, and it is up to lawyers, policymakers, and especially citizens to decide what values that code embodies.

Tying the Autocrat's Hands

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Publisher : Cambridge University Press
ISBN 13 : 1316195201
Total Pages : 215 pages
Book Rating : 4.3/5 (161 download)

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Book Synopsis Tying the Autocrat's Hands by : Yuhua Wang

Download or read book Tying the Autocrat's Hands written by Yuhua Wang and published by Cambridge University Press. This book was released on 2014-12-18 with total page 215 pages. Available in PDF, EPUB and Kindle. Book excerpt: Under what conditions would authoritarian rulers be interested in the rule of law? What type of rule of law exists in authoritarian regimes? How do authoritarian rulers promote the rule of law without threatening their grip on power? Tying the Autocrat's Hands answers these questions by examining legal reforms in China. Yuhua Wang develops a demand-side theory arguing that authoritarian rulers will respect the rule of law when they need the cooperation of organized interest groups that control valuable and mobile assets but are not politically connected. He also defines the rule of law that exists in authoritarian regimes as a partial form of the rule of law, in which judicial fairness is respected in the commercial realm but not in the political realm. Tying the Autocrat's Hands demonstrates that the rule of law is better enforced in regions with a large number of foreign investors but less so in regions heavily invested in by Chinese investors.

Morals and Markets

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Publisher : Macmillan
ISBN 13 : 9780230600973
Total Pages : 272 pages
Book Rating : 4.6/5 (9 download)

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Book Synopsis Morals and Markets by : Daniel Friedman

Download or read book Morals and Markets written by Daniel Friedman and published by Macmillan. This book was released on 2008-09-15 with total page 272 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The book draws on recent academic research in evolutionary game theory and behavioral economics, and tells familiar stories like the rise of Google as well as forgotten tales like the Ponzi scheme that swallowed Albania. The characters range from amoebas and William Blake to Boris Yeltsin and Zorro. Engaging and insightful, Morals and Markets offers a fresh perspective on the modern world and new hope for the future."--BOOK JACKET.

What Money Can't Buy

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Publisher : Farrar, Straus and Giroux
ISBN 13 : 1429942584
Total Pages : 256 pages
Book Rating : 4.4/5 (299 download)

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Book Synopsis What Money Can't Buy by : Michael J. Sandel

Download or read book What Money Can't Buy written by Michael J. Sandel and published by Farrar, Straus and Giroux. This book was released on 2012-04-24 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: Should we pay children to read books or to get good grades? Should we allow corporations to pay for the right to pollute the atmosphere? Is it ethical to pay people to test risky new drugs or to donate their organs? What about hiring mercenaries to fight our wars? Auctioning admission to elite universities? Selling citizenship to immigrants willing to pay? In What Money Can't Buy, Michael J. Sandel takes on one of the biggest ethical questions of our time: Is there something wrong with a world in which everything is for sale? If so, how can we prevent market values from reaching into spheres of life where they don't belong? What are the moral limits of markets? In recent decades, market values have crowded out nonmarket norms in almost every aspect of life—medicine, education, government, law, art, sports, even family life and personal relations. Without quite realizing it, Sandel argues, we have drifted from having a market economy to being a market society. Is this where we want to be?In his New York Times bestseller Justice, Sandel showed himself to be a master at illuminating, with clarity and verve, the hard moral questions we confront in our everyday lives. Now, in What Money Can't Buy, he provokes an essential discussion that we, in our market-driven age, need to have: What is the proper role of markets in a democratic society—and how can we protect the moral and civic goods that markets don't honor and that money can't buy?

Clearinghouse Review

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Publisher :
ISBN 13 :
Total Pages : 68 pages
Book Rating : 4.3/5 (3 download)

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Book Synopsis Clearinghouse Review by :

Download or read book Clearinghouse Review written by and published by . This book was released on 2013-05 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Stock Market Study

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Publisher :
ISBN 13 :
Total Pages : 1782 pages
Book Rating : 4.:/5 (319 download)

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Book Synopsis Stock Market Study by : United States. Congress. Senate. Committee on Banking and Currency

Download or read book Stock Market Study written by United States. Congress. Senate. Committee on Banking and Currency and published by . This book was released on 1955 with total page 1782 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Law & Capitalism

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Publisher : University of Chicago Press
ISBN 13 : 0226525295
Total Pages : 281 pages
Book Rating : 4.2/5 (265 download)

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Book Synopsis Law & Capitalism by : Curtis J. Milhaupt

Download or read book Law & Capitalism written by Curtis J. Milhaupt and published by University of Chicago Press. This book was released on 2008-09-15 with total page 281 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent high-profile corporate scandals—such as those involving Enron in the United States, Yukos in Russia, and Livedoor in Japan—demonstrate challenges to legal regulation of business practices in capitalist economies. Setting forth a new analytic framework for understanding these problems, Law and Capitalism examines such contemporary corporate governance crises in six countries, to shed light on the interaction of legal systems and economic change. This provocative book debunks the simplistic view of law’s instrumental function for financial market development and economic growth. Using comparative case studies that address the United States, China, Germany, Japan, Korea, and Russia, Curtis J. Milhaupt and Katharina Pistor argue that a disparate blend of legal and nonlegal mechanisms have supported economic growth around the world. Their groundbreaking findings show that law and markets evolve together in a “rolling relationship,” and legal systems, including those of the most successful economies, therefore differ significantly in their organizational characteristics. Innovative and insightful, Law and Capitalism will change the way lawyers, economists, policy makers, and business leaders think about legal regulation in an increasingly global market for capital and corporate governance.

Insurance and the Law of Obligations

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Publisher :
ISBN 13 : 0199645744
Total Pages : 457 pages
Book Rating : 4.1/5 (996 download)

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Book Synopsis Insurance and the Law of Obligations by : Robert M. Merkin

Download or read book Insurance and the Law of Obligations written by Robert M. Merkin and published by . This book was released on 2013-08-29 with total page 457 pages. Available in PDF, EPUB and Kindle. Book excerpt: The insurance industry has a significant impact on the operation of private law, yet remains poorly understood and under-theorized in the legal literature. Filling an important gap, this book analyses the interaction of insurance law and the general law of obligations, in theory and practice.

Financial Market Regulations and Legal Challenges in South Asia

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Publisher : IGI Global
ISBN 13 : 1522500057
Total Pages : 369 pages
Book Rating : 4.5/5 (225 download)

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Book Synopsis Financial Market Regulations and Legal Challenges in South Asia by : Kashyap, Amit K.

Download or read book Financial Market Regulations and Legal Challenges in South Asia written by Kashyap, Amit K. and published by IGI Global. This book was released on 2016-03-17 with total page 369 pages. Available in PDF, EPUB and Kindle. Book excerpt: South Asia has experienced a long period of robust economic growth. While many regulatory policies have helped usher in this prosperous growth, some markets have plateaued due to hardships such as the decline in foreign remittance and international credit lines, and a contraction of exports. To continue to grow, the nations in this region must begin to integrate into the globalized world economy. Financial Market Regulations and Legal Challenges in South Asia addresses the difficulties and challenges of the regulatory environment in South Asia. This research-based publication outlines the apparent issues and resolutions as these developing nations transition into global economic players. This book is an excellent resource for policy makers, researchers and students in the financial field, government officials, bankers, and financial market regulators.