Faculty in the News - Archive
Monday, September 22, 2008Professor Michael GreenbergerThe Diane Rehm Show (WAMU 88.5 FM), This Week, RTE News (Ireland), Patt Morrison (KPCC 89.3 FM) (So. California)
– U.S. lawmakers plan to vote this week on legislation that would create a fund to buy toxic financial assets from banks in an effort to rescue a crumbling financial system. Some experts estimate this bailout could cost close to $1 trillion. Michael Greenberger, JD, a professor at the School of Law and a former director at the Commodity Futures Trading Commission, said "essentially, we’re socializing the losses of the largest financial institutions in the United States [financial institutions that] are the greatest spokespersons for free market systems and the lack of regulation."
Monday, September 22, 2008Professor Michael GreenbergerThe Daily Record
– While the administration and congressional leaders were negotiating amendments on Monday, several lawyers and law professors said the proposal to let Treasury Secretary Henry Paulson buy and sell mortgage-related assets with virtually no oversight would run afoul of a little-used constitutional provision. The highest-profile use of the doctrine was during the New Deal by a Supreme Court irked at what it felt were President Franklin D. Roosevelt’s overreaching policies, said Michael Greenberger, JD, a professor at the School of Law and former director of the Commodity Futures Trading Commission.
Friday, September 19, 2008Professor Michael GreenbergerLos Angeles Times, The Hartford Courant
– Today's troubled securities are much more complex, with valuations that may not yet have reached bedrock. "They're very hard to account for, and their value is still a moving target," said Michael Greenberger, JD, a professor at the School of Law.
Friday, September 19, 2008Professor Michael GreenbergerThe Los Angeles Times, CBS Evening News
– A number of bankers, politicians, and economists are backing an idea to create a government agency that would take on assets linked to subprime mortgages that are currently on the books of faltering banks and sell those assets at a discount; the model would be the Resolution Trust Corp. (RTC), formed in 1989 by Congress to sell assets from failed savings and loans. Michael Greenberger, JD, a professor at the School of Law and a former director at the Commodity Futures Trading Commission, said the assets in question today are "very hard to account for and their value is still a moving target %85 creating a bureaucracy that takes paper that has no value and tries to sell it is just going to look like more smoke and mirrors."
Friday, September 19, 2008Professor Danielle CitronConcurringOpinions.com
– Danielle Citron, JD, an associate professor at the School of Law, is joining Concurring Opinions as a permablogger. Citron writes in the areas of information privacy law, cyberspace law, civil procedure and administrative law, with an emphasis on the legal issues surrounding the government’s reliance on information technologies. Her current work focuses on the Internet’s implications for civil rights.
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