wasting a crisis why securities regulation fails

Download Book Wasting A Crisis Why Securities Regulation Fails in PDF format. You can Read Online Wasting A Crisis Why Securities Regulation Fails here in PDF, EPUB, Mobi or Docx formats.

Wasting A Crisis

Author : Paul G. Mahoney
ISBN : 9780226236513
Genre : Law
File Size : 51. 74 MB
Format : PDF
Download : 364
Read : 955

Get This Book


In "Securities Regulation Reassessed," Paul Mahoney shows that policy responses to financial crises are broadly similar across place and time: political actors, hoping to avoid blame for a financial crisis, create a narrative of market failure, arguing that misbehavior by securities market participants, rather than prior policy errors, is the primary cause of the crisis. Politically obliged regulators craft reforms that purport to solve problems which are either non-existent or only tangentially related to the crisis; yet they increase the complexity and expense of compliance, resulting in consolidation and concentration of market share in the hands of already leading financial firms. "Securities Regulation Reassessed" illustrates these points primarily but not exclusively with evidence from the New Deal-era securities reforms in the United States. Against the conventional wisdom that regards the New Deal reforms as successful, Mahoney provides substantial countervailing evidence, showing instead that Congress s diagnoses were systematically inaccurate and its remedies reduced competition in the securities industry. Looking farther into history, the work treats several key episodes prior to the New Deal, including the English financial crises of 1697 and 1720 and the blue sky era of the 1910s and 1920s in the United States. Finally, Mahoney considers the Sarbanes-Oxley Act of 2002 and the Dodd-Frank Act of 2010 from the same analytical perspective. Mahoney finds a predictable pattern for efforts at securities reform: they require huge effort to enact, and yield little objectively measurable payoff and some objectively measurable harm."

The Oxford Handbook Of Legal History

Author : Markus D. Dubber
ISBN : 9780192513144
Genre : Law
File Size : 78. 5 MB
Format : PDF, Docs
Download : 711
Read : 580

Get This Book


Some of the most exciting and innovative legal scholarship has been driven by historical curiosity. Legal history today comes in a fascinating array of shapes and sizes, from microhistory to global intellectual history. Legal history has expanded beyond traditional parochial boundaries to become increasingly international and comparative in scope and orientation. Drawing on scholarship from around the world, and representing a variety of methodological approaches, areas of expertise, and research agendas, this timely compendium takes stock of legal history and methodology and reflects on the various modes of the historical analysis of law, past, present, and future. Part I explores the relationship between legal history and other disciplinary perspectives including economic, philosophical, comparative, literary, and rhetorical analysis of law. Part II considers various approaches to legal history, including legal history as doctrinal, intellectual, or social history. Part III focuses on the interrelation between legal history and jurisprudence by investigating the role and conception of historical inquiry in various models, schools, and movements of legal thought. Part IV traces the place and pursuit of historical analysis in various legal systems and traditions across time, cultures, and space. Finally, Part V narrows the Handbooks focus to explore several examples of legal history in action, including its use in various legal doctrinal contexts.

Speculation

Author : Stuart Banner
ISBN : 9780190623067
Genre : History
File Size : 86. 65 MB
Format : PDF, Docs
Download : 619
Read : 229

Get This Book


What is the difference between gambling and speculation? This difficult question has posed a legal problem throughout American history. Many have argued that periodic failures by regulators to differentiate between the two have been the proximate causes of catastrophic economic downturns, including the Great Depression and the 2008 global financial crisis. In Speculation, Stuart Banner provides a sweeping history of how the fine lines separating investment, speculation, and outright gambling have shaped America from the 1790s to the present. Advocates for risky investments have long argued that risk-taking is what defines America. On the other side, critics counter that unregulated speculation results in bubbles that draw in the most ill-informed investors, creating financial chaos. The debate has been a perennial feature of American history. The Panic of 1837, the speculative boom of the roaring twenties, and the real estate bubble of the early 2000s are all emblematic of the difficulty in differentiating sober from reckless speculation. Some, chastened by the most recent crash, argue that we need to prohibit certain risky transactions, but others respond by citing the benefits of loosely governed markets and the dangers of over-regulation. Economic crises have generated deep ambivalence, yet Americans' faith in investment and the stock market has always rebounded quickly after even the most savage downturns. Speculation explores a suite of themes that sit at the heart of American history-the ability of courts and regulators to protect ordinary Americans from the ravages of capitalism; the periodic fallibility of the American economy; and the moral conundrum inherent in profiting from speculation while condemning speculators. Banner's engaging and accessible history is invaluable not only for understanding the fault lines beneath the American economy today, but American identity itself.

The Constitutional Underclass

Author : Evan Gerstmann
ISBN : 0226288595
Genre : Law
File Size : 89. 79 MB
Format : PDF, ePub, Mobi
Download : 290
Read : 348

Get This Book


When the Supreme Court struck down Colorado's Amendment 2—which would have nullified all state and local laws protecting gays and lesbians from discrimination—it was widely regarded as a victory for gay rights. Yet many gays and lesbians still risk losing their jobs, custody of their children, and even their liberty under the law. Using the Colorado initiative as his focus, Gerstmann untangles the complex standards and subtle rhetoric the Supreme Court uses to apply the equal protection clause. The Court divides people into legal classes that receive varying levels of protection; gays and lesbians and other groups, such as the elderly and the poor, receive the least. Gerstmann reveals how these standards are used to favor certain groups over others, and also how Amendment 2 advocates used the Court's doctrine to convince voters that gays and lesbians were seeking "special rights" in Colorado. Concluding with a call for wholesale reform of equal-protection jurisprudence, this book is essential reading for anyone interested in fair, coherent, and truly equal protection under the law.

Desperately Seeking Certainty

Author : Daniel A. Farber
ISBN : 0226238105
Genre : Law
File Size : 88. 54 MB
Format : PDF, Docs
Download : 758
Read : 451

Get This Book


Irreverent, provocative, and engaging, Desperately Seeking Certainty attacks the current legal vogue for grand unified theories of constitutional interpretation. On both the Right and the Left, prominent legal scholars are attempting to build all of constitutional law from a single foundational idea. Dan Farber and Suzanna Sherry find that in the end no single, all-encompassing theory can successfully guide judges or provide definitive or even sensible answers to every constitutional question. Their book brilliantly reveals how problematic foundationalism is and shows how the pragmatic, multifaceted common law methods already used by the Court provide a far better means of reaching sound decisions and controlling judicial discretion than do any of the grand theories.

The Constitution In Congress

Author : David P. Currie
ISBN : 0226131149
Genre : Law
File Size : 79. 55 MB
Format : PDF, ePub, Mobi
Download : 363
Read : 520

Get This Book


In the most thorough examination to date, David P. Currie analyzes from a legal perspective the work of the first six congresses and of the executive branch during the Federalist era, with a view to its significance for constitutional interpretation. He concludes that the original understanding of the Constitution was forged not so much in the courts as in the legislative and executive branches, an argument of crucial importance for scholars in constitutional law, history, and government. "A joy to read."—Appellate Practive Journal and Update "[A] patient and exemplary analysis of the work of the first six Congresses."—Geoffrey Marshall, Times Literary Supplement

Drinkers Drivers And Bartenders

Author : Frank A. Sloan
ISBN : 0226762815
Genre : Law
File Size : 87. 15 MB
Format : PDF, ePub
Download : 754
Read : 1199

Get This Book


According to the United States Public Health Service, over 100,000 deaths a year are attributable to alcohol, including 20,000 highway fatalities. In response, legislatures have enacted various forms of regulation intended both to reduce alcohol consumption and to curb its harmful effects. This groundbreaking study focuses on one such form of regulation, the liability imposed on alcohol servers and social hosts by tort law. Basing their analysis on important new data from their extensive research and in-depth interviews with actors on all sides of the issue, the authors conclude that, despite their relative unpopularity, tort laws are very effective in reducing accidents—even more than criminal sanctions. Extraordinary in scope and exacting in detail, Drinkers, Drivers, and Bartenders: Balancing Private Choices and Public Accountability links alcohol problems, deterrence, and serving practices in a way no other work has been able to do and is certain to become a crucial reference point for researchers and policymakers alike.

When Rules Change

Author : Daniel Shaviro
ISBN : 0226751147
Genre : Business & Economics
File Size : 21. 52 MB
Format : PDF
Download : 920
Read : 929

Get This Book


Suppose Congress were to change Social Security just before you retired? Or repeal income tax deductions for homeowners? Or institute a flat tax? Should those changes be retroactive? Or should you retain the gains or accept the losses resulting from the new enactments? What kinds of policies might governments adopt in order to mitigate the transitional effects of changing legal rules? Daniel Shaviro tackles these tough questions, bringing legal, economic, and political perspectives to bear on a persistent problem not often given serious attention. When Rules Change: An Economic and Political Analysis of Transition Relief and Retroactivity focuses on tax law changes to develop an in-depth understanding of the transitional issues inherent in any substantive rule change and also to advance a set of normative policy guidelines applicable to any such circumstance. Shaviro reframes traditional approaches to the problem of retroactivity and offers new insights into both the theory and policy of legislative transitions.

Regulatory Rights

Author : Larry Yackle
ISBN : 9780226944739
Genre : Political Science
File Size : 23. 43 MB
Format : PDF, Docs
Download : 885
Read : 181

Get This Book


We often hear—with particular frequency during recent Supreme Court nomination hearings—that justices should not create constitutional rights, but should instead enforce the rights that the Constitution enshrines. In Regulatory Rights, Larry Yackle sets out to convince readers that such arguments fundamentally misconceive both the work that justices do and the character of the American Constitution in whose name they do it. It matters who sits on the Supreme Court, he argues, precisely because justices do create individual constitutional rights. Traversing a wide range of Supreme Court decisions that established crucial precedents about racial discrimination, the death penalty, and sexual freedom, Yackle contends that the rights we enjoy are neither more nor less than what the justices choose to make of them. Regulatory Rights is a bracing read that will be heatedly debated by all those interested in constitutional law and the judiciary.

Making Fathers Pay

Author : David L. Chambers
ISBN : 0226100774
Genre : Law
File Size : 70. 18 MB
Format : PDF, Kindle
Download : 178
Read : 948

Get This Book


Michigan's successful child-support collection process, based on jailing for nonpayment, is studied in an exploration of the economics of childsupport, characteristic differences between men who pay and those who don't, and alternatives to the use of jailing

Top Download:

Best Books