Faculty in the News - Archive
Tuesday, September 16, 2008Professor Michael GreenbergerBusiness News Network (Canada)
– American International Group (AIG) sustained $3.6 billion more in losses than it expected because the company underestimated the value of credit default swaps it had written to back subprime mortgage securities held by other financial institutions. Michael Greenberger, JD, a professor at the School of Law and a former director at the Commodity Futures Trading Commission, said "the AIG problem is a bigger problem than Lehman Brothers because a lot of banks are walking around telling their customers and shareholders, ‘don’t worry about our subprime exposure, we’re insured.’ Well, that insurer tanks, all of a sudden that subprime exposure that we didn’t have to worry about becomes huge losses."
Tuesday, September 16, 2008Adjunct Professor Christopher FlohrThe Baltimore Sun
– Recently unsealed affidavits leading to search warrants and at least 18 raids last week on homes and cars throughout Baltimore allege that Johnnie Butler, 32, and his associates ran multiple heroin shops in the city, most concentrated on the east side, and had plans to open more. "It is important to remember that all those who have been accused as well as the rest of us remain innocent unless and until proven guilty," Christopher Flohr, JD, an adjunct professor with the School of Law and a past president of the Maryland Criminal Defense Attorneys Association, said in an e-mail.
Monday, September 15, 2008Professor Larry GibsonThe Daily Record
– It’s difficult to imagine the first black Supreme Court justice and Baltimore native as anything but a civil rights attorney. But Larry Gibson, LLB, professor at the School of Law, discovered 10 instances where Thurgood Marshall handled divorce cases, as well as several fender-benders, after he was admitted to the Maryland bar in 1933. Marshall’s balancing act is apparent in Thurgood Marshall’s Early Career in Maryland: 1933-1937, an exhibit created by Gibson that will be permanently installed in the Thurgood Marshall Law Library at the School of Law this Friday in connection with the School’s second black alumni reunion and symposium.
Monday, September 15, 2008Professor Michael GreenbergerHere and Now, WBUR Radio (NPR Boston)
– A triple threat of crushing financial news hit Wall Street this week as Lehman Brothers filed for bankruptcy, Merrill Lynch was bought by Bank of America, and AIG was rumored to be entering a restructuring plan to raise desperately needed cash. If more banks fail and Congress intervenes like it did with Bear Stearns, Freddie Mac, and Fannie Mae, taxpayers could end up footing the bill. Michael Greenberger, JD, a professor at the School of Law and a former director at the Commodity Futures Trading Commission, said "this entire financial fiasco ... will in the last analysis be laid at the footsteps of the United States taxpayer. [They] will have to come to the rescue, [they] will have to come to the rescue to the tune of hundreds of billions of dollars if not trillions of dollars."
Sunday, September 14, 2008Professor Michael MillemannEducation - Baltimore Sun advertising supplement
– The University of Maryland is one of just a few law schools nationwide that requires students to represent the poor. "They come here because they want this legal experience," says Michael Millemann, JD, professor at the School of Law. This summer, five students are working in the Mississippi Center for Justice, representing people already devastated by Hurricane Katrina who were then further victimized by unscrupulous contractors.
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