Skeel The New Financial Deal

Understanding the Dodd-Frank Act and Its (Unintended) Consequences
1. Auflage 2010
ISBN: 978-1-118-01492-9
Verlag: John Wiley & Sons
Format: EPUB
Kopierschutz: Adobe DRM (»Systemvoraussetzungen)

E-Book, Englisch, 240 Seiten, E-Book

The good, the bad, and the scary of Washington's attempt toreform Wall Street
The Dodd-Frank Wall Street Reform and Consumer Protection Act isWashington's response to America's call for a new regulatoryframework for the twenty-first century.
In The New Financial Deal, author David Skeel offers anin-depth look at the new financial reforms and questions whetherthey will bring more effective regulation of contemporary financeor simply cement the partnership between government and the largestbanks.
* Details the goals of the legislation, and reveals that how theyare handled could dangerously distort American finance, making itmore politically charged, less vibrant, and further removed frombasic rule of law principles
* Provides an inside account of the legislative process
* Outlines the key components of the new law
To understand what American financial life is likely to looklike in five, ten, or twenty years, and how regulators will respondto the next crisis, we need to understand Dodd-Frank. The NewFinancial Deal provides that understanding, breaking down both whatDodd-Frank says and what it all means.

Autoren/Hrsg.

Skeel, David

Weitere Mitwirkende

Cohan, William D.

Inhaltsverzeichnis

Foreword.
Introduction.
A Few Major Characters.
Chapter 1 The Corporatist Turn in AmericanRegulation.
The Path to Enactment.
The Two Goals of the Dodd-Frank Act.
A Brief Tour of Other Reforms.
Two Themes That Emerge.
Fannie Mae Effect.
Covering Their Tracks.
Is There Anything to Like?
Part I Relearning the Financial Crisis.
Chapter 2 The Lehman Myth.
The Stock Narrative.
Lehman in Context.
Lehman's Road to Bankruptcy.
Lehman in Bankruptcy.
Bear Stearns Counterfactual.
Road to Chrysler.
Chrysler Bankruptcy.
General Motors "Sale".
From Myths to Legislative Reality.
Part II The 2010 Financial Reforms.
Chapter 3 Geithner, Dodd, Frank, and the LegislativeGrinder.
The Players.
TARP and the Housing Crisis.
Road to an East Room Signing.
Channeling Brandeis: The Volcker Rule.
The Goldman Moment.
Chapter 4 Derivatives Reform: Clearinghouses and thePlain-Vanilla Derivative.
Basic Framework.
Derivatives and the New Finance.
The Stout Alternative.
New Clearinghouses and Exchanges.
Regulatory Dilemmas of Clearinghouses.
Disclosure and Data Collection.
Making It Work?
Chapter 5 Banking Reform: Breaking Up Was Too Hard toDo.
Basic Framework.
New Designator and Designatees.
Will the New Capital Standards Work?
Contingent Capital Alternative.
Volcker Rule.
What Do the Brandeisian Concessions Mean?
Office of Minority and Women Inclusion.
Institutionalizing the Government-Bank Partnership.
A Happier Story?
Repo Land Mine.
Chapter 6 Unsafe at Any Rate.
Basic Framework.
Who Is Elizabeth Warren?
Toasters and Credit Cards.
The New Consumer Bureau.
Mortgage Broker and Securitization Rules.
Consequences: What to Expect from the New Bureau.
What It Means for the Government-Bank Partnership.
Chapter 7 Banking on the FDIC (Resolution AuthorityI).
Does the FDIC Play the Same Role in Both Regimes?
How (and How Well) Does FDIC Resolution Work?
Moving Beyond the FDIC Analogy.
Chapter 8 Bailouts, Bankruptcy, or Better? (ResolutionAuthority II).
Basic Framework.
The Trouble with Bailouts.
Who Will Invoke Dodd-Frank Resolution, and When?
Triggering the New Framework.
Controlling Systemic Risk.
Third Objective: Haircuts.
All Liquidation, All the Time?
Part III The Future.
Chapter 9 Essential Fixes and the New FinancialOrder.
What Works and What Doesn't.
Staying Derivatives in Bankruptcy.
ISDA and Its Discontent.
Other Bankruptcy Reforms for Financial Institutions.
Plugging the Chrysler Hole in Bankruptcy.
Bankruptcy to the Rescue.
Chapter 10 An International Solution?
Basic Framework.
Problems of Cross-Border Cases.
Scholarly Silver Bullets.
Dodd-Frank's Contribution to Cross-BorderIssues.
New Living Wills.
A Simple Treaty Might Do.
Risk of a Clearinghouse Crisis.
Reinvigorating the Rule of Law.
Conclusion.
Notes.
Bibliography.
Acknowledgments.
About the Author.
Index.

Über Autor(innen)

DAVID SKEEL is the S. Samuel Arsht Professor at the University of Pennsylvania Law School. He is author of Icarus in the Boardroom: The Fundamental Flaws in Corporate America and Where They Came From; Debt's Dominion: A History of Bankruptcy Law in America; and numerous articles on bankruptcy, corporate law, and other topics. His commentary has appeared in the New York Times, Wall Street Journal, Weekly Standard, Books & Culture, and elsewhere.