Since the 2008 financial crisis, in which the Reserve Primary Fund "broke the buck," money market funds (MMFs) have been the subject of ongoing policy debate. Many commentators view MMFs as a key contributor to the crisis because widespread redemption demands during the days following the Lehman...

This symposium essay assesses the government's private ownership experience during the financial crisis, and provides a near-term critique of the corporate governance structures utilized by the government. U.S. government corporate ownership is likely to remain quite rare, but this essay...

Gods at War is about the factors that drive and sustain deal-making, particularly mergers and acquisitions. Gods at War examines these issues through a history of deal-making in the sixth takeover wave and thereafter in the financial crisis. It is about the private equity boom and its implosion,...

The dramatic events of the financial crisis led the government to respond with a new form of regulation. Regulation by deal bent the rule of law to rescue financial institutions through transactions and forced investments; it may have helped to save the economy, but it failed to observe a...

The exogenous shock of the financial crisis made shareholders and regulators particularly attuned to financial firm performance. We thus use the financial crisis as a natural experiment to study labor market consequences for outside directors at banks and other financial companies. Examining...

Since the 2008 financial crisis, in which the Reserve Primary Fund “broke the buck,” money market funds (MMFs) have been the subject of ongoing policy debate. Many commentators view MMFs as a key contributor to the crisis because widespread redemption demands during the days following the...

Since the 2008 financial crisis, money market funds (MMFs) have been the subject of ongoing policy debate and targeted for regulatory reform. The US Securities and Exchange Commission(SEC) eventually adopted reforms that have the potential to increase MMF fragility, while, at the same time,...