Bulletin

Bulletin

Bulletin

What Shareholder Proposals on Proxy Access Tell Us About its Value

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Introduction Proxy access is the ability of certain privileged shareholders to have their own slate of director nominees included in the company’s proxy materials whether or not the board of directors (“Board”) approves. These materials include a proxy statement used to solicit shareholder votes and a voting card allowing shareholders to vote without having to […]

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Iterative Energy Policy: Resisting An Apology (Book Review)

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Book Review Steve Isser, Electricity Restructuring in the United States: Markets and Policy from the 1978 Energy Act to the Present (Cambridge Univ. Press 2015) Most energy law scholars have a general sense of the piecemeal fashion in which energy law and policy have unfolded in the past several decades. Notwithstanding the lack of a […]

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How King v. Burwell Creates Tax Problems for Consumers and What The Treasury Can Do About It

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After the Supreme Court agreed to hear King v. Burwell, a case addressing whether taxpayers can receive Section 36B premium tax credits for health insurance policies purchased on federally established exchanges (“federal policies”), commentators have expressed concerns about a potential death spiral in the health insurance market. Under the worst case scenario, the absence of […]

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Abstinence in the Face of the Mutual Fund Debt Elixir: In Response to Professor John Morley

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In recent years, a combination of bruising market losses, increased correlation among asset classes, unexpected illiquidity and high-profile scandals has left the investment management industry reeling. In the wake of the Great Recession, asset managers find themselves scrambling to respond to significant shifts in investor behavior and an evolving regulatory landscape. Two of the most […]

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What Do Subprime Securitization Agreements Say About Mortgage Modification?

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This paper presents the results of the only publicly available empirical study of what agreements governing subprime securitized mortgages say about mortgage modifications. The mortgage and foreclosure crisis continues to transfix the nation, even as housing markets across the country show signs of improvement. The government has tried to promote mortgage modifications to allow homeowners […]

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The Need for New Federal Anti-Spam Legislation

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The CAN-SPAM Act of 2003 was passed in an attempt to stop “the extremely rapid growth in the volume of unsolicited commercial electronic mail” and thereby reduce the costs to recipients and internet service providers of transmitting, accessing, and discarding unwanted email. The Act obligates the senders of commercial email to utilize accurate header information, […]

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Expanding the Prosecutor’s Purview: Interpreting the Wartime Suspension of Limitations Act

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Introduction The question of when a war exists has been extensively considered in international law, but the subject is greatly important in the regulation of government contracting because of the little-known Wartime Suspension of Limitations Act (WSLA). The Act declares that when the nation is “at war,” the statute of limitations on fraud committed against […]

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Essay Responding to Brian H. Potts, “The President’s Climate Plan for Power Plants Won’t Significantly Lower Emissions”

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Critics of the Obama Administration’s recently announced efforts to control climate pollution seek to discredit the idea of existing power plant greenhouse gas emissions limits based on legal arguments that are both shortsighted and unfounded. These arguments have most recently appeared in an essay posted on the Yale Journal on Regulation Online by attorney Brian […]

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Antitrust Enforcement in Private Equity: Target, Bidder, and Club Sizes Should Matter

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This Comment argues that plaintiffs have painted “club deals” with a broad brush as anticompetitive, whereas applying the facts alleged plaintiffs themselves to the antitrust regulators’ measurement of market concentration—the Herfindahl-Hirschman Index—implies a more nuanced conclusion: consortium bidding can be pro-competitive for large targets, small bidders and small clubs. “We will have to trust [K]inder […]

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Moving Forward with Regulatory Lookback

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President Obama has rightly called on government agencies to establish ongoing routines for reviewing existing regulations to determine if they need modification or repeal. Over the last two years, the White House Office of Information and Regulatory Affairs (OIRA) has overseen a signature regulatory “lookback” initiative that has prompted dozens of federal agencies to review […]

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What Is Government Failure?

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The phrase “government failure” as a term of art originated in the critique of government regulation that emerged in the 1960s. This critique premised that “market failures” were the only legitimate rationale for regulation. Although the phrase is a popular currency in scholarship and politics, people attribute to it different values. As a result, all […]

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What is Regulation?

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People hold strong views about regulation, but do they know what “regulation” means? National Federation of Independent Business (NFIB) is a landmark in regulation jurisprudence, yet the NFIB Court was divided over the meaning of the term “to regulate.” Long ago, John Stuart Mill observed that “we do not [always] understand the grounds of our opinion. But when we […]

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Backyard Politics, National Policies: Understanding the Opportunity Costs of National Fracking Bans

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Some local communities in the United States, particularly in the Northeast, are scrambling to oppose natural gas production enabled by hydraulic fracturing (or fracing, fracking, or hydrofracking) in shale formations. Local opposition to the impacts of fracking is understandable, but recent proposals for national bans ignore a key, more potent threat. Due to a mismatch […]