Shocks that hit part of the financial system, such as the subprime mortgage market in 2007, can propagate through a complex network of interconnections...
Most U.S. public companies have a single class of voting common shares: voting power is proportional to economic ownership. Linking votes to shares is...
The seemingly never ending scandals in the world of finance with their damaging effects on value and human welfare argue strongly for an addition to the...
This essay focuses on the classic 1940 case Litwin v. Allen, 25 N.Y.S.2d 667 (1940), in which the court ruled that directors and officers of a bank were...
The recent bailout of Credit Suisse is noteworthy for many reasons. One of them is that, while AT1 bondholders were wiped out, shareholders were not. This...