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Law & Economics

Government Regulation in the Sharing Economy - Event Audio

2015 Annual Western Chapters Conference
Evan Baehr, Katie Biber Chen, Andrea Ambrose Lobato, Stephen R. Miller, Carlos T. Bea, David DeGroot February 10, 2015

In the innovation economy, entrants often confront increased regulatory hurdles, particularly on a state level, as they enter the marketplace and disrupt previously tightly regulated industries, such as hospitality and transportation. In California, for example, legislators have proposed rigorous insurance requirements, drug testing, and new background checks on Uber and Lyft drivers that traditional taxicab drivers do not face. Airbnb faces scrutiny in New York, with critics accusing it of violating rent control laws by creating an underground rental market, threatening public safety and driving up rental prices. In New Jersey, Tesla sales have been shut down after licensing restrictions prevented direct-to-consumer sales of electric vehicles, bypassing franchised dealers. While the entrants contend that these restrictions only serve to restrain competition and protect special entrenched interests, the critics maintain that consumer protection and maintaining a level playing field are the true goals in their regulatory policies. What’s the proper balance between innovation and regulation? Will these new entrants incentivize innovation or will existing regulatory capture only succeed in maintaining the status quo? Are state regulations the greatest impediment to innovation, or do federal regulations also impede progress?

This panel was part of the 2015 Annual Western Chapters Conference held on January 24, 2015, at the Ronald Reagan Presidential Library in Simi Valley, CA.

Featuring:

  • Evan Baehr, Co-founder, Outbox and Co-founder, Able Lending
  • Katie Biber Chen, Senior Counsel, Airbnb 
  • Andrea Ambrose Lobato, Policy Counsel, Lyft
  • Prof. Stephen Miller, University of Idaho School of Law 
  • Moderator: Hon. Carlos Bea, U.S. Court of Appeals, 9th Circuit
  • Introduction: Mr. David DeGroot, Special Counsel, Sheppard Mullin Richter & Hampton LLP and President, San Francisco Lawyers Chapter

The Ronald Reagan Presidential Library
Simi Valley, CA

Address by John Allison - Event Audio

2015 Annual Western Chapters Conference
John A. Allison, Andrew G. Pappas February 10, 2015

John Allison, President and CEO of the Cato Institute, delivered the Keynote Address at the 2015 Annual Western Chapters Conference. He was introduced by Andrew Pappas, President of the Los Angeles Lawyers Chapter. The annual conference was held at The Ronald Reagan Presidential Library in Simi Valley, CA on January 24, 2015.

Featuring:

  • Mr. John Allison, President and CEO, Cato Institute and former CEO, BB&T
  • Introduction: Mr. Andrew G. Pappas, Gibson Dunn & Crutcher and President, Los Angeles Lawyers Chapter

The Ronald Reagan Presidential Library
Simi Valley, CA

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