Download or read book The Paulson Report Reconsidered written by Richard A. Booth and published by . This book was released on 2008 with total page 20 pages. Available in PDF, EPUB and Kindle. Book excerpt: This short essay considers the findings and recommendations of the Paulson Report relating to securities fraud class actions under the 1934 Act and Rule 10b-5. While the report exposes numerous problems with securities litigation in the United States, it understates the problems inherent in stock-drop actions. As a result, the report fails to propose an effective fix. As the report recognizes, diversified investors gain nothing from stock-drop actions: Because the corporation pays, holders effectively reimburse buyers and sellers keep their gains. In other words, the system suffers from circularity akin to a game of musical chairs in that stock-drop actions ultimately do no more than transfer wealth among investors. Indeed, diversified investors are net losers to the extent of attorney fees and other costs of litigation. But the report fails to note that issuers who are targets of such actions see their stock drop in price by more than it otherwise would because of the prospect of litigation and a feedback effect: When the issuer pays to settle the case, the payment further reduces the value of the company, which leads to a further decrease in stock price and a further increase in the potential for damages. In the end, a target company faces a higher cost of capital than it would in a world without securities fraud class actions. And in some cases it may face financial ruin. The report also fails to note that diversified investors may suffer genuine financial loss when insiders take advantage of nonpublic information for personal gain or when they damage the reputation of the company by failure to be candid with the market. In such cases, stockholders have a real gripe and should have a remedy. The simple solution is for the courts to deem stock-drop actions under the 1934 Act and Rule 10b-5 to be derivative actions rather than direct (class) actions. It is well settled that it is up to the court to decide whether an action is direct or derivative. The fact that the parties style the action as a direct (class) action rather than as a derivative action does not make it so. By recasting stock-drop actions as derivative actions, the courts could in one stroke eliminate the glaring market inefficiency of circular recovery, lower the cost of capital for issuers, emphasize individual responsibility, induce boards of directors and gatekeepers to become more vigilant, and reduce the need for criminal prosecution.
Download or read book Civil Justice Reconsidered written by Steven P. Croley and published by NYU Press. This book was released on 2017-08-22 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: "In Civil Justice Reconsidered, Steven Croley demonstrates that civil litigation is, for the most part, socially beneficial. An effective civil litigation system is accessible to parties who have suffered legal wrongs, and it is reliable in the sense that those with stronger claims tend to prevail over those with weaker claims. However, while most of the system's failures are overstated, they are not wholly off base; civil litigation often imposes excessive costs that, among other unfortunate consequences, impede access to the courts, and Croley offers ways to reform civil litigation in the interest of justice for potential plaintiffs and defendants, and for the rule of law itself"--Publisher's web site, viewed February 10, 2017.
Download or read book Regulatory Breakdown written by Cary Coglianese and published by University of Pennsylvania Press. This book was released on 2012-08-16 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: Regulatory Breakdown: The Crisis of Confidence in U.S. Regulation brings fresh insight and analytic rigor to what has become one of the most contested domains of American domestic politics. Critics from the left blame lax regulation for the housing meltdown and financial crisis—not to mention major public health disasters ranging from the Gulf Coast oil spill to the Upper Big Branch Mine explosion. At the same time, critics on the right disparage an excessively strict and costly regulatory system for hampering economic recovery. With such polarized accounts of regulation and its performance, the nation needs now more than ever the kind of dispassionate, rigorous scholarship found in this book. With chapters written by some of the nation's foremost economists, political scientists, and legal scholars, Regulatory Breakdown brings clarity to the heated debate over regulation by dissecting the disparate causes of the current crisis as well as analyzing promising solutions to what ails the U.S. regulatory system. This volume shows policymakers, researchers, and the public why they need to question conventional wisdom about regulation—whether from the left or the right—and demonstrates the value of undertaking systematic analysis before adopting policy reforms in the wake of disaster.
Download or read book Decisions and Reports written by United States. Securities and Exchange Commission and published by . This book was released on 1957 with total page 1194 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Interstate Commerce Commission Reports written by United States. Interstate Commerce Commission and published by . This book was released on 1960 with total page 936 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Final Bulletin of the Proceedings of the Wisconsin Legislature written by Wisconsin. Legislature and published by . This book was released on 1939 with total page 1966 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Dealing with China written by Henry M. Paulson Jr. and published by Twelve. This book was released on 2015-04-14 with total page 484 pages. Available in PDF, EPUB and Kindle. Book excerpt: The New York Times bestselling author of Dealing with China takes the reader behind closed doors to witness the creation and evolution and future of China's state-controlled capitalism. Hank Paulson has dealt with China unlike any other foreigner. As head of Goldman Sachs, Paulson had a pivotal role in opening up China to private enterprise. Then, as Treasury secretary, he created the Strategic Economic Dialogue with what is now the world's second-largest economy. He negotiated with China on needed economic reforms, while safeguarding the teetering U.S. financial system. Over his career, Paulson has worked with scores of top Chinese leaders, including Xi Jinping, China's most powerful man in decades. In Dealing with China, Paulson draws on his unprecedented access to modern China's political and business elite, including its three most recent heads of state, to answer several key questions: How did China become an economic superpower so quickly? How does business really get done there? What are the best ways for Western business and political leaders to work with, compete with, and benefit from China? How can the U.S. negotiate with and influence China given its authoritarian rule, its massive environmental concerns, and its huge population's unrelenting demands for economic growth and security? Written in the same anecdote-rich, page-turning style as Paulson's bestselling memoir, On the Brink, Dealing with China is certain to become the classic and definitive examination of how to engage China's leaders as they build their economic superpower.
Download or read book The Unconscious Reconsidered written by Kenneth S. Bowers and published by Wiley-Interscience. This book was released on 1984 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Download or read book Western Weekly Reports written by and published by . This book was released on 1916 with total page 1586 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book The Moon in the Nautilus Shell written by Daniel Botkin and published by Oxford University Press. This book was released on 2012-09-27 with total page 449 pages. Available in PDF, EPUB and Kindle. Book excerpt: Why do we keep talking about so many environmental problems and rarely solve any? If these are scientific issues, then why can't scientists solve them or at least agree on what to do? In his new book, The Moon in the Nautilus Shell, ecologist Daniel Botkin explains why. For one thing, although we live in a world of constantly changing environments and talk a lot about climate change, most of our environmental laws, policies, and scientific premises are based on the idea that the environment is constant, never changing, except when people affect it. For another, we have lost contact with nature in personal ways. Disconnected from our surroundings, we lack the deep understanding and feelings about the environment to make meaningful judgments. The environment has become just another one of those special interests that interferes with our lives. Poised to be a core text of the twenty-first century environmental movement, The Moon in the Nautilus Shell challenges us to think critically about our role in nature.
Download or read book Skullduggery written by Ted Krager and published by Author House. This book was released on 2012-06-21 with total page 465 pages. Available in PDF, EPUB and Kindle. Book excerpt: Today, in 2012, the country is again just as torn as it has was in the 1970s due once again to Middle East wars, the Great Recession of 2007 - 2012, President Obama's constant and incendiary rhetoric, incessant politicking over race, ObamaCare, divisive dialogue of the haves and have-nots, his infamous campaign gaffe to Joe the Plumber, "spread the wealth around", the "99% vs the Top 1%" (class warfare), "millionaires and billionaires" and his war with big business. So much for "Hope and Change", "Change We Can Believe In" and my favorite "the first post-racial president." To the contrary, the United States of America is as unsettled, divided and angry as I have seen it since the 1960's and the early 1970's. The big questions are easy ones: "Why?" and "What caused this return to the anger and the hostilities of the 60's and 70's?" Since I am part of the baby boom generation and was very much a participant in both the professions of Wall Street and mortgage banking, I am in a unique position to tell you about what I saw and heard up close and personal in the 1960's - 1970's AND about the decade that led up to what culminated in the Great Recession of 2007-2012 that we are still clawing our way out of. Here are a few things that might surprise you, further discussed in this book: 1. The overwhelming majority of "Greedy Wall Streeters" and "Fat Cat Bankers" are massive and consistent donors to liberal Democrats, even in 2012 in the face of Obama's persistent (and false) accusations of casting them as the "fat cat bankers" and "greedy Wall Streeters" as causing the recession! 2. The senior most executives in these companies pilloried by President Obama, gave upwards of 60% of total donations, over $20M, to Obama's 2008 presidential campaign and his Political Action Committees into 2009. 3. The earliest beginnings of the current Financial Crisis started back in the late 1970's. 4. Some of the names that were catalysts of the Financial Crisis are very well known activists, anarchists, life-long socialists, present and former D.C. politicians and three very well known U.S. presidents. 5. And, just in case you have not done your research or taken the time to trace the trail of bread crumbs back to the source... you need to know the irrefutable reality that: The Subprime Mortgage Crisis = The Financial Crisis of 2007 - 2012 6. From the very beginnings of The Financial Crisis in the fall of 2007, the media referred to this as The Subprime Mortgage Crisis, until they didn't.
Download or read book Reports of the Supreme Court of Canada written by Canada. Supreme Court and published by . This book was released on 1916 with total page 744 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Daily Labor Report written by and published by . This book was released on 1990 with total page 852 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book United States Reports written by United States. Supreme Court and published by . This book was released on 2005 with total page 888 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book What Is Government Good At written by Donald J. Savoie and published by McGill-Queen's Press - MQUP. This book was released on 2015-08-01 with total page 382 pages. Available in PDF, EPUB and Kindle. Book excerpt: Recent decades have shown the public's support for government plummet alongside political leaders’ credibility. This downward spiral calls for an exploration of what has gone wrong. The questions, "What is government good at?" and "What is government not good at?" are critical ones - and their answers should be the basis for good public policy and public administration. In What Is Government Good At?, Donald Savoie argues that politicians and public servants are good at generating and avoiding blame, playing to a segment of the population to win the next election, embracing and defending the status quo, adding management layers and staff, keeping ministers out of trouble, responding to demands from the prime minister and his office, and managing a complex, prime minister-centred organization. Conversely, they are not as good at defining the broader public interest, providing and recognizing evidence-based policy advice, managing human and financial resources with efficiency and frugality, innovating and reforming itself, being accountable to Parliament and to citizens, dealing with non-performers, paying sufficient attention to service delivery, and implementing and evaluating the impact of policies and programs. With wide implications for representative democracy, What Is Government Good At? is a persuasive analysis of an approach to government that has opened the door to those with the resources to influence policy and decision-making while leaving average citizens on the outside looking in.
Download or read book The Status Quo Crisis written by Eric Helleiner and published by Oxford University Press. This book was released on 2014-06-19 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: The 2008 financial crisis was the worst since the Great Depression and many voices argued that it would transform global financial governance. Analysts anticipated a "Bretton Woods moment", referring to the 1944 conference that established the postwar international financial order. Widespread expectations of change were then reinforced by the creation of the G20 leaders' forum, extensive debates about the dollar's global role, the launching of international financial regulatory reforms, and the establishment of the Financial Stability Board. But half a decade later, how much has really changed? In The Status Quo Crisis, Helleiner surveys the landscape and argues that continuity has marked global financial governance more than dramatic transformation. The G20 leaders forum contributed much less to the management of the crisis than advertised. The US dollar remains unchallenged as the world's dominant international currency. The market-friendly nature of pre-crisis international financial regulation has been not overturned in a significant manner. And the Financial Stability Board has strengthened the governance of international financial standards in only very modest ways. What we are left with are some small-bore incremental changes that, collectively, have not fundamentally restructured the governance of the global financial system. Helleiner argues that this strangely conservative result was generated partly by the structural power and active policy choices of the country at the center of the crisis: the United States. Status quo outcomes also reflected the unexpected weakness of Europe and conservatism of policymakers in large emerging market countries. Only if this distinct configuration of power and politics among and within influential states shifted in the coming years might the 2008 crisis leave a more transformative legacy over the longer term. Cutting against much of the received wisdom on offer today, The Status Quo Crisis will be essential reading for those interested in the politics of global finance and for anyone curious how expectations of change can be thwarted after even in the most dire of crises.
