Articles Bailouts and Credit Cycles: Fannie, Freddie, and the Farm Credit System By Julie Andersen Hill In September 2008, the United States government seized mortgage giants Fannie Mae and Freddie Mac. Since that time, the government has pumped $111 billion of new capital into these government-sponsored enterprises. Yet the future of these companies post-bailout is …
Symposium: New Governance and the Transformation of Law Foreword New Governance and Experimentalism: An Introduction Gráinne de Búrca Governance, Accountability, and the New Poverty Agenda Wendy A. Bach The Next Generation of Administrative Law: Building the Legal Infrastructure for Collaborative Governance Lisa Blomgren Bingham Governance Legalism: Hayek and Sabel on …
Articles The Death of Big Law By Larry E. Ribstein Large law firms face unprecedented stress. Many have dissolved, gone bankrupt, or significantly downsized in recent years. This Article provides an economic analysis of the forces driving the downsizing of Big Law. It shows that this downsizing reflects a basically precarious business model rather than …
Essay Reimagining Criminal Justice By Cecelia Klingele, Michael S. Scott & Walter J. Dickey The criminal justice system needs more than reform. It requires reimagining. In its present state, by every measure that matters, the criminal justice system is failing to deliver what can fairly be expected of it. In response to glaring deficiencies …
Articles Breaking Bucks in Money Market Funds By William A. Birdthistle This Article argues that the Securities and Exchange Commission’s first and most significant response to the economic crisis increases rather than decreases the likelihood of future failures in money market funds and the broader capital markets. In newly promulgated regulations addressing the “breaking …
Articles The Rules and Standards of Patentable Subject Matter By Tun-Jen Chiang The general understanding of the rules-versus-standards debate is that it involves a trade off between administrative costs and error costs. A legal regime governed by a set of bright-line rules will have high error costs because rules tend to be over- and …