Faculty in the News - Archive
Thursday, September 18, 2008Professor Michael GreenbergerKCBS Radio (San Francisco), Business Week
– President Bush and his top economic advisors are calling for a massive bailout on Wall Street and more oversight of complex financial instruments. Michael Greenberger, JD, a professor at the School of Law and a former director at the Commodity Futures Trading Commission (CFTC), fought for tougher regulation while serving at the CFTC in the late 1990s. Greenberger said: "If we had prevailed, the [subprime-securitization] party would never have gotten started; the wildness wouldn't have happened."
Wednesday, September 17, 2008Professor Douglas ColbertCity Paper
– In three separate blog posts, Page Croyder criticized Circuit Court Judge Nathan Braverman for lowering the bail on an accused killer named Demetrius Smith, who police say executed a man named Robert Long on March 24. School of Law Professor Douglas Colbert, JD, responded to Croyder, criticizing her for taking Braverman and others to task and saying her philosophy is to violate the Bill of Rights. "Croyder knows the Baltimore State’s Attorney's Office has an extremely low conviction rate in which only one out of three arrestees are convicted," Colbert wrote on Croyder's blog.
Wednesday, September 17, 2008Professor Michael Greenberger"Fresh Air," WHYY (NPR), Bushleagueofnations.com
– The federal government has announced it will bail out AIG with a loan worth $85 billion and the nation’s largest insurance company discovered it was steeped in financial losses. The bulk of those losses stemmed from credit default swaps that AIG sold to investors who bought subprime mortgage securities and wanted to "insure" those investments. Michael Greenberger, JD, a professor at the School of Law and a former director at the Commodity Futures Trading Commission, said that’s why AIG’s would-be collapse couldn’t happen in a vacuum. "There would have been a cascading effect through the economy, it wouldn’t just be AIG failing, they would be bringing down many institutions with them," said Greenberger.
Wednesday, September 17, 2008Professor Sherrilyn IfillCommunity Times
– The actions and remarks of Sarah Palin caught the eye of Sherrilyn Ifill, JD, a School of Law professor who has taught voting rights, equal protection, and restorative justice. "From the first day, Palin presented herself as shooting a bear in the morning, field dressing it, cooking up the breakfast, diapering the babies, passing legislation in the afternoon, cleaning the house, satisfying her husband, etc., etc., etc. And it’s just not true," she wrote in an e-mail interview. Ifill added that Palin "missed her opportunity when she announced Bristol’s pregnancy to explicitly talk about how painful it was to her as a mother instead of making it as though this was also part of her perfect life."
Wednesday, September 17, 2008Professor Michael GreenbergerAmerican Banker
– Banking experts want to know when the federal government will shift from crisis management to "structural solutions" for the financial industry. One option would be to create an 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 "here the RTC would be trying to sell what are essentially junk bonds," such as collateralized debt swaps and mortgage-backed securities, "that are virtually valueless."
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