There are few types of securities as internationally traded as those issued in securitization (also spelled securitisation) transactions. The post-financial crisis regulatory responses to securitization in the United States and Europe are, at least in part, political and ad hoc. To achieve a more systematic regulatory framework, this Essay examines how existing regulation should be supplemented by identifying the market-failure causes that apply distinctively to securitization and analyzing how they could be addressed. Among other things, the Essay argues that Europe’s regulatory framework for simple, transparent, and standardised (STS) securitizations goes a long way towards addressing complexity as a cause of market failure, and that the United States should consider a similar regulatory approach.
Current Print Issue
State courts matter. Not only do state courts handle more than sixty times the number of civil cases as federal courts, but they also represent an important bulwark against the effects of federal procedural retrenchment. Yet state courts and state procedure are notably absent from the scholarly discourse. In order to evaluate state procedure—and in […]
Will Delaware Be Different? An Empirical Study of TC Heartland and the Shift to Defendant Choice of Venue
Why do some venues evolve into litigation havens while others do not? Venues might compete for litigation for various reasons, like enhancing their judges’ prestige and increasing revenues for the local bar. This competition is framed by the party that chooses the venue. Whether plaintiffs or defendants primarily choose venue is crucial because, we argue, […]
Modern trade agreements have come to include many and varied obligations for domestic regulation and administration. These treaty-based commitments aim primarily to improve the freedom of firms to operate in the global economy by aligning the ways in which governments regulate markets and private actors engage governments through administrative law. They therefore strike at the […]
Symposium on Reassessing the Restatement of Employment Law
The Cornell Law Review hosted a Symposium on Reassessing the Restatement of Employment Law on Friday, November 21, 2014, at Cornell Law School. The Symposium offered the first commentary on Restatement of Employment Law, a twelve-year project, which the American Law Institute approved in 2014. Click for Symposium Agenda
Symposium on Extraterritorialism
The Cornell Law Review will publish its annual Symposium issue for Volume 99 with a focus on extraterritorialism in September 2014. The flurry of recent Supreme Court decisions turning on a revived door-closing territorialism is attracting the attention of legal scholars in various substantive as well as methodological fields of federal law, and the lines […]
Cornell Law Review Online
Cornell Law Review Online will start accepting submissions on Feb. 25.
Welcome to CornellLawReview.org
Welcome to CornellLawReview.org, the new online home of the Cornell Law Review. In the spirit of its mission as a student-run journal, the Law Review is launching this site to provide greater access to its top-notch legal scholarship and more publishing opportunities for legal academics. The website will host all of the content that the Law Review publishes in print […]