This Essay, part of a Symposium organized around the casebook Networks, Platforms, and Utilities (NPUs), raises questions about the NPU regulatory toolkit. Our first goal is definitional. We want to problematize the category of NPUs. How do the authors determine what is an NPU and what is not?...

We are at the dawn of a new age of Open Finance. Open Finance seeks to harness the potential of new platform technology to enhance customer data access, sharing, portability, and interoperability—thereby leveling the informational playing field and fostering greater competition between...

In markets with significant scale economies and network effects, scholars and policymakers often tout open access and interoperability requirements as superior to both regulated monopoly and the break-up of dominant firms. In theory, by compelling firms to coordinate to develop common...

Many current bankruptcy debates—from critical vendor orders to the Supreme Court's decision last year in Czyzewski v. Jevic Holding Corporation—begin with bankruptcy's distributional rules and questions about how much discretion a judge should have in applying them. It is a mistake, however,...

Defining failures and pathologies can be difficult. Finding and fixing them can be even more difficult. This is the main lesson of Morrison and Uettwiller's essay on Consumer Bankruptcy Pathologies (Morrison and Uettwiller, 2017). The essay is a major contribution to the literature on consumer...

During the height of the financial crisis in 2008 and 2009, the government bailed out numerous corporations, including banks, investment banks, and automobile manufacturers. While the bailouts helped end the financial crisis, they were intensely controversial at the time, and were marred by the...

This Article reconsiders the implementation of Article III in the bankruptcy context. Recent rulings limiting the delegation of adjudicative power to non-Article III tribunals have generated only uncertainty and a profusion of litigation. The reason for this is that the Court's Article III cases...

Scholars and policymakers now debate reforms that would prevent a bankruptcy filing from being a moment that forces valuation of the firm, crystallization of claims against it, and elimination of junior stakeholders' interest in future appreciation in firm value. These reforms have many names,...

In August of 2012, the Department of Treasury redirected the profits of Fannie Mae and Freddie Mac away from common shareholders and into the Treasury. Those shareholders have filed multiple lawsuits challenging this action. The complaints allege, among other claims, that the decision to wipe...