Faculty Workshop Series
Banks, Governments and Debt Crises
Professor Anna Gelpern
Financial institutions and governments the world over have been locked in mutual dependence since long before the crisis that began in 2007. Post-crisis reforms will not rid banks and governments of one another, at best, they may renegotiate the terms of engagement. This paper uses case studies from Europe and the Americas to explore the implications of two enduring links between financial institutions and governments: first, the formal and informal public insurance that banks and a growing number of other firms enjoy in exchange for providing critical public services; second the powerful economic, political and regulatory incentives for financial firms to hold government debt. The paper concludes that no sovereign bankruptcy or financial resolution regime can be effective without accounting for the links between governments and financial firms.
Conciliating Trade Wars in Transatlantic Relations
Professor Tamara Takacs (University of Utrecht)
Alongside the multilateral trade relations and disputes in the WTO, the transatlantic partnership institutions and trans-governmental policy coordination in trade has its primary goal economic conciliation and consolidation between EU and the US. Indeed, intergovernmental cooperation on economic issues provides the mechanisms for focused dialogue on existing trade disputes. This paper explores the modalities through which the transatlatic partnership institutions and dialogues have been used to reconcile trade disputes, with particular attention to the above mentioned three disputes of a politically controversial nature.
Offsetting and the Consumption of Social Responsibility
Professor Ezra Rosser
This article examines the relationship between individual consumption and consumption-based harms by focusing on the rise in consumption offsetting.
Should the IRS Require Charities to Have an 'Independent' Governing Board?
Professor Benjamin Leff
This paper grew out of a larger project that examines the role of "third party stakeholders" in the federal regulation of charitable organizations. This paper explores the IRS's recent attempts to persuade or require organizations to have at least some board members who are financially "independent" of the organization, even though there is no requirement in the law. It finds the IRS's approach to board independence is rooted in federal law, which (loosely) reflects a general theory relating to third-party stakeholders. However, current IRS policy sits uneasily within the statutory scheme governing charitable organizations.
Business law professors shared their current projects and offered feedback to each other. Among others, Ken Anderson shared a presentation, later given at the University of Virginia School of Law, on the distinction between America's rule-based regulation and Britain's standards-based regulation. Mary Siegel gave a preview of an article to be published in Duke Law and Contemporary Problems on the Model Business Corproations Act and voting in public corporations. Professor David Snyder briefly explained his current research on "illegitimate internationalism," or how gaps in treaty law are handled in international business practice.