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Latest blog posts from Conglomerate

One Complaint with Partnoy
Professor Frank Partnoy should be applauded for presciently considering many of the topics that the recent financial crisis has brought to the forefront.  In one of his articles, “Why Markets Crash and What Law Can Do About It,” Partnoy implicitly assumes that there are only two plausible... Read more...
Published 55 minutes ago

The Nationalization
With the big day on Wall Street, it now, surprisingly, looks like there's wind at the sails of the American government response to the crisis, which before today has looked either orthagonal or slow.  You can't say that the government hasn't exercised its bailout authority anymore:Citigroup and... Read more...
Published 4 hours ago

Paul Krugman
Everyone seems to be linking to Tyler Cowen for thoughts on Paul Krugman's Nobel Prize in Economics. Tyler offers a nice summary of Krugman's accomplishments and a nifty pocket interpretation of the award: "This was definitely a 'real world' pick and a nod in the direction of economists who are... Read more...
Published 8 hours ago

The Financial Crisis and Delaware
After reading the headlines today, are you wondering, "What financial crisis?" If so, you need to get some perspective. Last week was awfully scary, but unless you pulled all of your money out of the market (and if you did that, what were you thinking!!!), you still have a long row to hoe. Even... Read more...
Published 8 hours ago

Blogger Comparative Advantage: Administrative v. International Law
International law exists and it is real, but it might be worth noting how differently it operates than does domestic administrative law.  When the financial crisis was local, we could evaluate the government's actions as lawyers might - were those actions consistent with its legal authority? ... Read more...
Published 15 hours ago

A Busy Sunday for the Fed
Once again, the emergency means the usual rules are being disregarded for Wells Fargo-Wachovia, who got the Fed to meet on Sunday to approve their application for a merger:In light of the unusual and exigent circumstances affecting the financial markets, the weakened financial condition of... Read more...
Published 16 hours ago

Fear, Greed, & Morality: Walking and Chewing Gum?
It's so nice to have a chance to guest blog over here with many of my friends.  For the next two weeks, I don't have to nudge (or noodge) Gordon and David Zaring when I've posted something resembling corporate or finance at Legal Profession Blog.  Thanks, Gordon!  I thought I'd start off by... Read more...
Published 18 hours ago

Welcome Guest Blogger Jeff Lipshaw
We are very pleased to welcome longtime Glom reader and commenter Jeff Lipshaw as a guest blogger for the next two weeks. Jeff is Associate Professor of Law at Suffolk University Law School, where he teaches courses on business organizations and securities regulation. He also blogs regularly at... Read more...
Published 18 hours ago

Circuit Breakers? Failed Regulation after the 1987 Crash
In the last post, I described how portfolio insurance, the main culprit in the October, 1987 stock market crash, led to a cascade of selling and a precipitous drop in share prices.  In this post I review the regulatory response to the October, 1987 crash.  The most significant regulatory... Read more...
Published a day ago

When Will the Globe Get Around to Globalizing This Crisis Away?
One the one hand, as the financial crisis gets global, I guarantee that you will see transnational policy being made via the informal global networks that the regulators must now rely upon.  On the other hand, with the G-7 statement ("we're taking this seriously!") being pretty small beer, it is... Read more...
Published 2 days ago

Why Markets Crash: Lessons from October, 1987
As I suggested in my introductory post, the market crash on October 19, 1987 (at over 22% still the largest single day percentage drop on record) remains the most illustrative of market meltdowns.   The dynamics that led to the crash in 1987 are surprisingly transparent, and what happened that... Read more...
Published 2 days ago

Too Many Notes, First and Last Edition
As I wind down my stint on the Glom with many thanks to my generous hosts and indulgent audience, I am floored at how far I have strayed from the plan.  Two months ago, this was going to be an orderly rollout of brainwaves on somewhat scholarly topics and works in progress.  Two weeks ago, this... Read more...
Published 3 days ago