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Understanding the (Ir)relevance of Shareholder Votes on M&A Deals
(Duke Law Journal, 2019)
Has corporate law and its bundles of fiduciary obligations become irrelevant? Over the last thirty years, the American public corporation has undergone a profound metamorphosis, transforming itself from a business with ...
Guarantor of Last Resort
(The CLS Blue Sky Blog, 2019)
Larry Summers, who was one of President Obama’s key economic advisors when the Dodd-Frank Act of 2010 was enacted, what he called “excessive populism” in portions of that legislation. This might seem surprising; Dodd-Frank’s ...
Too-Big-to-Fail Shareholders
(Minnesota Law Review, 2018)
To build resilience within the financial system, post-Crisis regulation relies heavily on banks to fund themselves more fully by issuing equity. This reserve of value should buttress failing banks by providing a mechanism ...