The AIG, Bear Steams, and Lehman Brothers failures were at the heart of the 2008-2009
financial crisis and economic downturn. Some said their failures sparked a financial panic …

Credit markets serve a vital function in capitalist economies: evaluating the riskiness of a
range of possible investments and channeling resources toward those investments that …

Almost three years have gone by since Congress passed the Dodd-Frank Wall Street
Reform and Consumer Protection Act (Dodd-Frank) 6 in July 2010, but Dodd-Frank's reform …

Regulatory reaction to the 2008-2009 financial crisis focused on complex financial
instruments that deepened the crisis. A consensus emerged that these risky financial …

INTRODUCTION Most regulatory reform after the 2008-09 global financial crisis (the
financial crisis) represents politically motivated reactions to that crisis, often looking for …

US bankruptcy law grants special rights and immunities to creditors in derivatives
transactions, including virtually unlimited enforcement rights. This Article argues that these …

Bankruptcy misallocates cash during a financial crisis. When a firm files for bankruptcy, cash
becomes trapped in its bankruptcy estate, often for years. Meanwhile, payments to the firm's …

It has frequently been claimed that over-the-counter (OTC) derivatives were, by and large,
not directly regulated in the largest markets immediately prior to the global financial crisis …

Since the global financial crisis of 2007-2009 (the" financial crisis"), an increasing number of
countries, including the United States, have been requiring most derivatives contracts to be …

Special rules exempt an increasingly wide arc of creditors from the normal operation of
bankruptcy. These so-called" safe harbors" exempt the bankrupt debtor's financial-contract …