Topic
Financial Regulation
Posts
-
ArticleVol. 104 · Iss. 2
Enforcing the Community Reinvestment Act
Nearly fifty years after the Community Reinvestment Act of 1977 (CRA) required banks to serve low- and moderate-income (LMI) areas, the systematic exclusion of…
Jeremy C. Kress & Jeffery Y. Zhang -
ArticleVol. 103 · Iss. 5
The Regulatory Paradox of Climate Insurance
Abstract Decades of inadequate federal action on climate change have culminated in a near-total regulatory retreat. Meanwhile, the climate crisis continues to intensify, imposing…
Aisha I. Saad -
ArticleVol. 101 · Iss. 4
Do the Securities Laws Actually Protect Investors (And How)? Lessons from SPACs
Some have criticized mandatory securities regulation based on the claim that market competition alone adequately constrains exploitation of public investors in securities offerings. Other…
Patrick M. Corrigan -
Online2023
Why U.S. States Need Their Own Cannabis Industry Banks
The legal cannabis trade is the fastest growing industry in the United States. In 2019, about 48.2 million Americans used the drug at least…
Christoph Henkel & Randall K. Johnson -
ArticleVol. 101 · Iss. 1
We Must Protect Investors and Our Banking System From the Crypto Industry
The crypto boom and crash of 2020–22 demonstrated that (i) cryptocurrencies with fluctuating values are extremely risky and highly volatile assets and (ii) cryptocurrencies…
Arthur E. Wilmarth, Jr. -
ArticleVol. 100 · Iss. 6
The Centralization Paradox in Cryptocurrency Markets
Introduction The costly and highly public collapse of cryptocurrency exchange FTX has highlighted two key phenomena central to crypto-market design. First, despite its originating…
Yesha Yadav -
ArticleVol. 100 · Iss. 6
The SPAC Market
Introduction Special purpose acquisition companies (SPACs) exploded in popularity in the past few years, to such a degree that they made up 60% of…
Usha R. Rodrigues & Michael Stegemoller -
NoteVol. 100 · Iss. 2
The Stock Act Ten Years Later: The Need for a New Congressional Insider Trading Regulatory Scheme
Abstract A recent Pew Research poll indicated only 20% of Americans trust the federal government to “do the right thing.” Although falling trust in…
Andrew Krueger -
ArticleVol. 99 · Iss. 3
Insuring the ‘Uninsurable’: Catastrophe Bonds, Pandemics, and Risk Securitization
ABSTRACT In principle, governments could protect against the potential economic devastation of future pandemics by requiring businesses to insure against pandemic-related risks. In practice,…
Steven L. Schwarcz -
ArticleVol. 87 · Iss. 6
A Fixer-Upper for Finance
Three facts bear notice in connection with our current financial troubles. The first is that the First World War, before the Second began, was…
Robert Hockett -
ArticleVol. 87 · Iss. 3
Financing the Next Silicon Valley
Silicon Valley’s success has led other regions to attempt their own high-tech transformations, yet most imitators have failed. Entrepreneurs may be in short supply…
Darian M. Ibrahim -
ArticleVol. 87 · Iss. 2
Regulating Complexity in Financial Markets
As the financial crisis has tragically illustrated, the complexities of modern financial markets and investment securities can trigger systemic market failures. Addressing these complexities,…
Steven L. Schwarcz