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Financial Institutions

Government Enforcement in the Financial Sector

Columbia Student Chapter Friday, October 09, 01:10 PMJerome Greene Hall 104
New York, NY 10027

Speakers:

  • Attorney General Michael Mukasey, former Attorney General of the United States
  • Dean Gillian Lester, Columbia Law
  • Professor Jonathan Macey, Yale Law
  • Judge Richard Sullivan, U.S. District Court, Southern District of New York
  • And More...

Market Regulation: A Look Back, and a Look Forward - Podcast

Corporations, Securities & Antitrust Practice Group Podcast
Jeffrey T. Dinwoodie, Annette L. Nazareth June 23, 2015

Over the past several years there has been a heightened interest in the operation and structure of the U.S. securities markets. Annette Nazareth and Jeffrey Dinwoodie explained the history and development of our current equity market structure. They also shed light on some of the key issues currently being debated and provided an update on the SEC’s activities in this area.

  • Jeffrey T. Dinwoodie, Associate, Davis Polk & Wardwell LLP
  • Annette L. Nazareth, Partner, Davis Polk & Wardwell LLP

Single Point of Entry – A Response to Paul Kupiec and Peter Wallison - Podcast

Financial Services & E-Commerce Practice Group Podcast
Randall Guynn, David Skeel, James Wigand February 18, 2015

In December 2013, the Federal Deposit Insurance Corporation (FDIC) released a proposal on the “Single Point of Entry” (SPOE) strategy as a means of resolving large failing banks without financial-market disruption. Paul Kupiec and Peter Wallison wrote a paper strongly critiquing the strategy, and presented it to Federalist Society members on a January 22 Teleforum conference call. A recording of their presentation is available here. Randall Guynn, Prof. David Skeel, and James Wigand offered their defense of SPOE and their response to Mr. Kupiec and Mr. Wallison on a Teleforum conference call.

  • Randall Guynn, Partner, Davis Polk & Wardwell LLP
  • Prof. David Skeel, S. Samuel Arsht Professor of Corporate Law, University of Pennsylvania Law School
  • James Wigand, Partner, Millstein & Co.

Hidden in Plain Sight: What Really Caused the World’s Worst Financial Crisis and Why It Could Happen Again - Podcast

Financial Services & E-Commerce Practice Group Podcast
Peter J. Wallison, Todd J. Zywicki February 10, 2015

The 2008 financial crisis—like the Great Depression—was a world-historical event. What caused it will be debated for years, if not generations. The conventional narrative is that the financial crisis was caused by Wall Street’s actions and insufficient regulation of the financial system. That narrative produced the Dodd-Frank Act, the most comprehensive financial-system regulation since the New Deal. A competing narrative about what caused the financial crisis has received little attention -- many contend that the crisis was caused not by bad actors on Wall Street, but by government housing policies. Peter Wallison marshals evidence in support of this view in his recently-released book, Hidden in Plain Sight: What Really Caused the World’s Worst Financial Crisis and Why It Could Happen Again.

  • Hon. Peter J. Wallison, Arthur F. Burns Fellow in Financial Policy Studies, American Enterprise Institute
  • Prof. Todd J. Zywicki , Foundation Professor of Law, George Mason University School of Law

Does the Single Point of Entry Strategy Eliminate “Too Big to Fail”? - Podcast

Financial Services & E-Commerce Practice Group Podcast
Paul H. Kupiec, Peter J. Wallison January 23, 2015

In December 2013, the Federal Deposit Insurance Corporation released a proposal on the so-called “Single Point of Entry” (SPOE) strategy as a means of resolving large failing banks without financial-market disruption. In a recent paper, AEI scholars Paul Kupiec and Peter Wallison raised questions about legal support for the SPOE strategy in Title II of the Dodd-Frank Act, whether the strategy can be used for resolving the largest failed banks, and the economic consequences of using the SPOE approach to attenuate the systemic risk of a large-bank failure. To facilitate a SPOE resolution, regulators recently proposed new requirements that large financial firms have enough long-term debt and equity — or total loss absorbing capacity — to cover potential losses and bank recapitalization. Mr. Kupiec and Mr. Wallison’s paper questions whether these measures will allow authorities to resolve large banks without a bailout or disorderly break-up.

Mr. Kupiec and Mr. Wallison will presented their paper and fielded audience questions during a live Teleforum conference call.

  • Paul H. Kupiec, Resident Scholar, American Enterprise Institute
  • Hon. Peter J. Wallison, Arthur F. Burns Fellow in Financial Policy Studies, American Enterprise Institute