The demise of the Glass-Steagall Act was the result of affirmative policy decisions by federal regulators and Congress, and it was not the inevitable byproduct of market forces. Economic disruptions and financial innovations posed serious challenges to the viability of Glass-Steagall, beginning...

This "white paper," written for the Roosevelt Institute, looks at the Dodd-Frank Orderly Liquidation Authority, as currently conceived of by regulators. The existence of OLA is crucial to the idea that the Dodd-Frank Act has actually ended "too big to fail." Since financial institutions remain...

This blog post was published in The FinReg Blog (hosted by Duke’s Global FinancialMarkets Center) on September 24, 2020. It provides an overview of my book of the same title,published by Oxford University Press on October 2, 2020.available at...

This work is primarily focused on the settlement between the SEC and Goldman Sachs of July 2010 related to the structuring and marketing of a Collateralised Debt Obligation (CDO) known as Abacus 2007-AC1. A thorough discussion of this case leads to analyze the idea of a imposing a fiduciary duty...

This work is primarily focused on the settlement between the SEC and Goldman Sachs of July 2010 related to the structuring and marketing of a Collateralised Debt Obligation (CDO) known as Abacus 2007-AC1. A thorough discussion of this case leads to analyze the idea of a imposing a fiduciary duty...