Congress is down to its self-imposed deadline to come up with a financial regulatory reform bill, leaving some of the most controversial provisions — like how to deal with the trading of derivatives — to the final hours. Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former [...]
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Tagged bank reform, Barney Frank, BU LAW, BU School of Law, Christopher Dodd, Congress, Cornelius Hurley, derivatives trading, Fed Board of Governors, financial regulatory reform, Morin Center for Banking and Financial Law, US Congress
June 21, 2010 at 12:37 pm
House and Senate conferees hope to wrap up this week the final version of financial regulatory reform legislation to send to President Obama, with chairmen Barney Frank and Chris Dodd delicately trying to compromises without losing votes for the overall package. What do about the trading of derivatives – the complex financial packages which helped sink [...]
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Tagged Barney Frank, Blanche Lincoln, BU LAW, BU School of Law, Chrisopher Dodd, Cornelius Hurley, derivatives, Fed Board of Governors, financial regulatory reform, House of Represenatives, law school, Morin Center for Banking and Financial Law, President Obama, Senate
On the heels of passing a controversial law involving screening illegal immigrants, the Arizona legislature is considering a bill that would deny citizenship to children of illegal immigrants, despite the 14th Amendment to the U.S. Constitution that specifically grants naturalized citizenship to such children. Law Professor Susan Akram, an authority on immigration law, says getting such [...]
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Tagged 14th Amendment, Arizona, Arizona immigration, Boston University, BU School of Law, Congress, Constitution, immigration law, law school, Senate, Susan Akram, U.S. Constitution. Fourteenth Amendment, undocumented immigrants, United States, US Constitution
Enemies on all sides are coming down on Arkansas Democratic U.S. Senator Blanche Lincoln’s amendment to the regulatory reform bill that would rid banks of their lucrative derivatives business which played such a huge rule in the 2008 financial crash. Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and [...]
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Tagged Arkansas, Arkansas Democratic Senator, Blanche Lincoln, Boston University, BU School of Law, Cornelius Hurley, Democrats, derivatives, Federal Reserve, financial regulatory reform, Morin Center for Banking and Financial Law, Sen. Blanche Lincoln
The Congressionally sponsored bipartisan Financial Crisis Inquiry Commission now has cast its eyes on the credit-rating agencies and the impact they may have had on the Great Crash of 2008. Law Professor Elizabeth Nowicki, a veteran attorney from both Wall Street and the Securities and Exchange Commission, says the agencies are both hopelessly plagued by [...]
Bank of America and Citigroup brushed off reports that they incorrectly hid from investors billions in debt — similar to what Lehman Brothers did — to obscure its true level of risk. Company documents filed with regulators show the two Wall Street banks classified some short-term repurchase agreements (“repos”) as sales, which they should have [...]
Treasury Secretary Timothy Geithner is visiting with his European counterparts to say that the U.S. and Europe broadly agree on the need to reform the financial system but that global cooperation is needed. Law Professor Cornelius Hurley, director of the Morin Center for Banking and Financial Law and a former counsel to the Federal Reserve [...]
The Justice Department reportedly is in the early stages of an antitrust investigation against Apple Inc., the largest seller of music online, looking into allegations that it used its dominant market position to try to keep music labels from granting exclusive access to content to Amazon.com. Law Professor Keith Hylton, an authority on antitrust law, says [...]
In an effort to avoid a repeat of the May 6th “flash crash” when computerized trading markets tumbled out of control, the Securities and Exchange Commission has voted unanimously to require audit trails to cover all trading orders from start to finish. Visiting Law Professor Elizabeth Nowicki, a former SEC and Wall Street attorney, says the [...]
The Interior Department’s inspector general issued a report showing an all-to-cozy relationship between the department’s Minerals Management Service and the oil industry that it was supposed to be regulating. Law Professor Tamar Frankel, author of “Trust and Honesty: America’s Business Culture at a Crossroad” and an authority on legal ethics, says the problem of regulators [...]
