Will Financial Regulation Make Us Safe? (Part III)

This is the third post on the topic.  As promised, I will attempt to address whether the currently proposed regulatory overhaul can help mitigate against the risk of excessive risk-taking and speculative behavior.  That is, can the prevention of “too big to fail,” increased capital ratios among large banks, and the 2,315-pages of financial regulatory system legislation act as the “voice of reason” which will prevent future financial crises?

Well, a lot has happened since my past post:

  • Central bank governors and regulators finalized a package that will recommend that banks more than triple the amount of top quality capital they must hold to withstand shocks without state aid (the so-called Basel III requirements);
  • Six banks in the U.S. collapsed, bringing the total to 124 this year as the ramifications of the credit crises continued to take a toll (including one right here in West Allis, Wisconsin); and
  • Gordon Gekko plans his return as the movie Wall Street: Money Never Sleeps premiers in theaters this Friday – I am sure that you will remember the speech from the first movie: 
Continue ReadingWill Financial Regulation Make Us Safe? (Part III)

How Did This Milwaukee House Change Property Law?

Come to the Boden Lecture and find out. Indeed, I encourage the Law School and the broader legal community to turn out in force for the lecture this coming Thursday, Sept. 23, at 4:30 p.m. in the Appellate Courtroom of Eckstein Hall. It will be delivered by Thomas W. Merrill, an especially distinguished legal academic (he is the Charles Evans Hughes Professor at Columbia Law School) and an outstanding lawyer (he has argued more than a dozen cases in the U.S. Supreme Court). The nature of Prof. Merrill’s topic should make the talk of interest to the broader community as well: it will provide a take on how Milwaukee’s industrial past has affected American property law. In particular, Prof. Merrill will discuss his original historical research concerning a well-known case from the late nineteenth century, which appears in first-year property textbooks: Melms v. Pabst Brewing Co. The Wisconsin Supreme Court’s decision in Melms concerned the fate of part of the Philip Best Brewery site on the near-south side of Milwaukee (to which Captain Frederick Pabst had succeeded): parts of the plant still remain just west of 6th Street, along Virginia, barely more than a mile from the Law School, in what eventually became the Pfister & Vogel property. So there is a substantial local-history angle to the lecture as well. Let’s make the first Boden Lecture in Eckstein Hall a resounding success by supporting it; I know that Prof. Merrill will do his part by delivering an outstanding lecture. You can register here.

Continue ReadingHow Did This Milwaukee House Change Property Law?

Best of the Blogs: Trivial Pursuits Edition

This week’s review of blog postings and news stories of note focuses on subjects that might seem trivial, but that interest me nonetheless.

1. Comic Books

My brother and I had an extensive collection of comic books when we were growing up.  We even owned two (two!) mint editions of Conan the Barbarian number 1.  If I still owned that collection today, it would easily pay for the first year of my daughter’s college tuition.

After reaching the age of puberty, I consigned my childhood love of comic books to the “trivial” category of youthful pursuits.  Perhaps that is why I was so delighted to read about the current exhibit at the Lillian Goldman Law Library at Yale University, entitled Superheroes in Court! Lawyers, Law and Comic BooksAs described by John Schwartz in the New York Times, this exhibit includes comic books with a legal setting, contracts and correspondence relating to legal disputes over the ownership of comic book characters, and reports submitted to Congress during the 1950s seeking federal legislation to address the alleged connection between comic books and juvenile delinquency.

Continue ReadingBest of the Blogs: Trivial Pursuits Edition