Showing results for: “digital markets act”
The roots of foreclosure-gate: incentives and lawyers
Careless or even fraudulent documentation in foreclosure actions has stalled foreclosures, stymied recovery of the housing market, threatened the earnings and even financial stability of banks, and may lead to massive securities fraud actions. How did this happen? Per CR: [A] combination of getting swamped with foreclosures, lack of experienced staff, the poor economic environment ... The roots of foreclosure-gate: incentives and lawyers
Another unintended consequence of SOX: preliminary earnings
We know that Sarbanes-Oxley imposed significant costs on firms in the interests of more accurate disclosures. Maybe this is a cost worth bearing. But what if one of these costs is actually less accurate disclosures? Scott N. Bronson, Chris Hogan and Marilyn Johnson of Michigan State have written The Unintended Consequences of PCAOB Auditing Standards ... Another unintended consequence of SOX: preliminary earnings
Wilkes v. Springside and the Rise of the Uncorporation
As I noted last week I participated with several corporate law luminaries in a conference at Western New England College in Springfield, Massachusetts on the famous case of Wilkes v. Springside Nursing Home, 370 Mass. 842, 353 N.E.2d 657 (1976). Springfield is near Pittsfield, where Springside was located and this case originated. As most law students ... Wilkes v. Springside and the Rise of the Uncorporation
Justin Wolfers on Recessions and the Economics of Marriage
As per usual, Justin Wolfers is there to clean up misconceptions about the data and explain what is really going on. As it turns out, claims that recessions have killed marriage have been grossly exaggerated. Here’s a picture Justin shows to demonstrate the point (the gray bars are recessions). Also interesting on the economics of ... Justin Wolfers on Recessions and the Economics of Marriage
“If no one else sues them, I will”
So says Nassim Nicholas Talem of Black Swan fame, referring to the Nobel committee for “legitimizing” economists, inducing reliance on their ideas, and thereby causing the financial crisis. According to the article, Taleb identified Harry Markowitz, Merton Miller and William Sharpe for their work on portfolio theory. Talem goes on to announce that he wants ... “If no one else sues them, I will”
Close corporations in the age of LLCs
On Friday I’m joining Eric Gouvin, Lyman Johnson, Mark Loewenstein, Bob Thompson, Dan Kleinberger, Benjamin Means, Doug Moll, Deborah DeMott and Massachusetts Justice Francis X. Spina at a Western New England College conference on “Fiduciary Duties in the Closely Held Firm 35 Years after Wilkes v. Springside Nursing.” Not surprisingly, I’ll be talking about the ... Close corporations in the age of LLCs
Markets and art
We often seem to assume that market competition is inconsistent with great art. In fact this is not true. People like good art, especially rich people, and therefore will pay for it. Consider, for example, the state of movies and television today. Edward Jay Epstein (HT MR) notes that while subscription television has had turn to ... Markets and art
Do Republicans Hate Behavioral Economics?
Ezra Klein has an interesting blog post covering Peter Diamond’s nomination to Federal Reserve Board. The standard refrain in this debate has been something like: “See! The Republicans blocked Diamond and now he won the Nobel — don’t they look silly now.” I don’t find the particular issue of comparing Diamond’s qualifications as an economist ... Do Republicans Hate Behavioral Economics?
Does the Insider Trading Ban Apply to Congressional Staffers?
In a front-page article entitled Congress Staffers Gain from Trading in Stocks, the Wall Street Journal reports that “72 aides on both sides of the aisle traded shares of companies that their bosses help oversee.” That finding was based on an “analysis of more than 3,000 disclosure forms covering trading activity by Capitol Hill staffers ... Does the Insider Trading Ban Apply to Congressional Staffers?
Congratulations…but let’s not over do it
I was waiting to write something about today’s announcement of the Nobel Memorial Prize in Economics being awarded to Diamond, Mortensen, and Pissarides. Josh has already provided his thoughts and provided links to comments by Ed Glaeser and Steve Levitt, respectively. As they describe it, the honorees’ research provides a theory of unemployment, explaining why ... Congratulations…but let’s not over do it
Nobel Prize for Unemployment Theory
Congratulations to Peter A. Diamond, Dale T. Mortensen, Christopher A. Pissarides for taking home the 2010 Nobel Prize. As Alex Tabarrok notes, this year’s prize can usefully be thought of as a prize for unemployment theory. See also Tyler Cowen’s profiles of Diamond, Mortensen, and Pissarides. I think the most useful short summary of this ... Nobel Prize for Unemployment Theory
Zuckerberg as evil capitalist
I still haven’t seen “The Social Network” (waiting to watch it at home), but that won’t stop me from writing about it, as long as others are. Gordon Crovitz, writing in today’s WSJ: The hit movie * * * is crafted through the lens of lawsuits brought by others seeking a piece of the company, ... Zuckerberg as evil capitalist
