Showing results for: “digital markets act”
It's all Roosevelt's fault
My friend Seth Weinberger over at Security Dilemmas has a great post on why the left is actually to blame for the post-9/11 national security apparatus it (and many others) hates so much. Basically, it comes down to “when the only tool you have is a hammer, everything looks like a nail.” When bigger government ... It's all Roosevelt's fault
On rigged(?) markets, casinos and Steve Bainbridge
Greetings loyal fans (i.e., “hi mom”) (actually, I’ve made this gag before, and so I think it’s time to set the record straight:  My mom has almost certainly — nay, certainly — never, ever read this blog. I’m pretty sure she has no idea what a blog is at all. She may not even be ... On rigged(?) markets, casinos and Steve Bainbridge
What’s the Matter With Chicago?
When was my beloved City of Chicago – a refuge for such liberty lovers as Milton Friedman, Richard Epstein, and F.A. Hayek – overtaken by the Lifestyle Gestapo? First it was the smoking ban. Then, the ban on foie-gras. Now, the city’s most powerful alderman has proposed that the city ban the sale of foods ... What’s the Matter With Chicago?
Wachtell, Lipton Supports Hedge Fund Regulation
The following is contained at the end of a June 28, 2006 Wachtell, Lipton, Rosen & Katz memo addressing the recent Court of Appeals decision to vacate SEC hedge fund registration requirements: In this era of hedge fund activism, the future of hedge fund regulation may impact the balance of power between public companies and ... Wachtell, Lipton Supports Hedge Fund Regulation
Backdated options and incentives.
A letter to the editor in today’s W$J (see here) asserts the following regarding option backdating: [B]y backdating options at the lowest price of the past period, say, three months, a company is not providing any more incentives to CEOs to work harder on behalf of shareholders. If anything, since the options are already in ... Backdated options and incentives.
Salinger on Price Gouging
Economist Michael Salinger, Director of the Federal Trade Commission’s Bureau of Economics for the past year, comments on the recent FTC Report and price gouging in Sunday’s WSJ (HT: Greg Mankiw). I have blogged a bit about the FTC Report previously: once about its findings (that “market manipulation” did not explain post-Katrina price increases), once ... Salinger on Price Gouging
SSRN Top Tens for Corporate, Corporate Governance, and Securities Law
As I mentioned earlier, I’m having my research assistant pull together bi-weekly top ten lists of SSRN downloads of papers announced during the last 60 days for corporate law, corporate governance law, and securities law. See below the fold for the lists.
An Insider Trading Policy a Monkey Would Love
As Josh noted, Henry Manne recently published a WSJ op-ed arguing for liberalization of insider trading on efficiency grounds — chiefly, because such trading “aids capital allocation decisions and informs business executives through market-price feedback of the best predictions about the value of new plans.” (For a more complete statement of Henry’s argument, see here.) ... An Insider Trading Policy a Monkey Would Love
The NYT on SCOTUS’s Wetlands Decision
Yesterday, the U.S. Supreme Court issued a fractured decision in consolidated appeals raising the issue of which wetlands come within the ambit of the federal Clean Water Act (“CWA�). The wetlands at issue were next to drainage ditches that, when full of water, would eventually flow into navigable waters. The record did not establish whether ... The NYT on SCOTUS’s Wetlands Decision
The origin of option backdating?
An article in yesterday’s NYT describes the genesis of option backdating at Micrel Inc., a silicon valley semiconductor company: Throughout the 1990’s, Silicon Valley companies were locked in an intense battle to recruit employees, and stock options were their primary tool. * * * So when new hires began complaining that the [Micrel’s] volatile share ... The origin of option backdating?
SEC provides more comfort re: foreign exchange acquisitions.
Following up on this post, the SEC has just released a fact sheet concerning potential cross-border exchange mergers (see here). The fact sheet provides more comfort that the acquisition of a foreign exchange by a U.S. company will not automatically subject the foreign exchange and its listed companies to SEC regulations. Here’s some excerpts: Joint ... SEC provides more comfort re: foreign exchange acquisitions.
TOTM, Now with Extra Nuance!
In response to Thom’s post on the merits of federal subsidies for private efforts to develop alternative fuels, frequent and thoughtful commentor William Goodwin issues a critique of Thom’s post, and of TOTM more generally. I will leave the merits of Mr. Goodwin’s specific criticisms (do read them) to Thom, but this particular portion caught ... TOTM, Now with Extra Nuance!
