Showing results for: “digital markets act”
The continuing mystery of the Gupta case
Friday I wondered whether the SEC’s hurried decision to administratively charge former Goldman director Gupta with insider trading suggested it was “in league with Justice to patch a gaping hole in its case against R by tainting a key witness.” Then I updated with John Carney’s story that Justice actually opposed the SEC over these ... The continuing mystery of the Gupta case
Privacy Cost-Benefit Analysis
As I mentioned in my previous post, there is a strong effort to regulate the use of information on the web in the name of “privacy.” The basic tradeoff that drives the web is that firms use information for advertising and other purposes,and in return consumers get lots of things free. Google alone offers about 40 free services, including the original ... Privacy Cost-Benefit Analysis
Congressmen as securities traders
With all of the attention being given to insider trading by hedge funds and malfeasance by corporate executives, it’s worth reminding ourselves that the politicians who seek to impose discipline are themselves no angels. An important study published seven years ago revealed that U.S. senators were reaping returns from stock trading that strongly suggested they ... Congressmen as securities traders
Privacy and Tracking
First I would like to thank Geoff Manne for inviting me to join this blog. I know most of my fellow bloggers and it is a group I am proud to be associated with. For my first few posts I am going to write about privacy. This is a hot topic. Senators McCain and Kerry ... Privacy and Tracking
Fuld, Mozilo and Raj
The WSJ reports that the investigation of Lehman’s collapse “has hit daunting hurdles that could result in no civil or criminal charges ever being filed against the company’s former executives.” The problem is that, despite Lehman’s examiner’s conclusion that Lehman used tricks (the famous Repo 105) to “paint a misleading picture of its financial condition,” Linklaters ... Fuld, Mozilo and Raj
The SEC’s shrinking credibility
Peter Henning discusses “the SEC under fire”, specifically Beckergate, which I’ve already discussed, and Guptagate, which I’ve been mulling since Sorkin’s Dealbook column last Monday. Henning observes that “the questions being asked could undermine the agency’s credibility as an effective regulator of the securities markets.” As for Beckergate, Henning notes (in addition to the issues ... The SEC’s shrinking credibility
Appropriate Liability Rules for Tying and Bundled Discounting: A Response to Professor Elhauge
In recent years, antitrust scholars have largely agreed on a couple of propositions involving tying and bundled discounting. With respect to tying (selling one’s monopoly “tying” product only on the condition that buyers also purchase another “tied” product), scholars from both the Chicago and Harvard Schools of antitrust analysis have generally concluded that there should ... Appropriate Liability Rules for Tying and Bundled Discounting: A Response to Professor Elhauge
Comment to the Federal Reserve Board on Regulation II: Where’s the Competitive Impact Analysis?
I have submitted a comment to the Federal Reserve Board concerning Regulation II, along with the American Enterprise Institute’s Alex Brill, Christopher DeMuth, Alex J. Pollock, and Peter Wallison, as well as my George Mason colleague Todd Zywicki. Regulation II implements the interchange fee provisions of the Dodd-Frank Act. The comment makes a rather straightforward ... Comment to the Federal Reserve Board on Regulation II: Where’s the Competitive Impact Analysis?
An executive MBA in law
The Canadians show the way: The year-long program, which runs in the evenings and on weekends, will examine the impact of globalization on laws, legal institutions and capital markets. * * * “This is a way for people to engage, in a more in-depth way academically, those issues they’re facing at work.” * * * ... An executive MBA in law
Jack Calfee, In Memoriam, by Paul Rubin
My good friend and coauthor John E. (Jack) Calfee died suddenly of a heart attack last month. He was bon in 1941 and was 69 years old. Jack came late to economics. After graduating from Rice with a major in mathematics, he studied international relations at the University of Chicago and then worked for AT&T ... Jack Calfee, In Memoriam, by Paul Rubin
Time for a really new law school
Delaware is thinking about a new law school. Bainbridge and Pileggi don’t like it. Says Steve: the last thing Delaware–or the country as a whole–needs is another law school churning out graduates into a still dismal job market. We need to be killing off the bottom dwellers, not starting new ones. I agree, with a ... Time for a really new law school
Lawyers as capitalists
The WSJ reports: Clients are seeking ways to lower their legal costs, and more of them are asking law firms to share the risk of litigation, particularly in intellectual property cases, with contingency payment arrangements in which the clients pay no fees upfront. Under this arrangement, a law firm only gets paid if it wins. ... Lawyers as capitalists
