Chapman University School of Law Professor Timothy Canova wrote an article for the Brooklyn Law Review, entitled “The Transformation of U.S. Banking and Finance: From Regulated Competition to Free-Market Receivership,” which critiques the deregulation of banking and finance. The article emphasizes, “the distortions and inconsistencies in the deregulation model, including the resort to bailout of
Professor Kurt Eggert was quoted in an article in St. Petersburg Times entitled, “Government’s hired mortgage servicers have checkered pasts.” The article discusses how mortgage servicers are in the best position to rework loan terms under President Obama’s Home Affordable Modification Program but they face lawsuits for illegal practices. Eggert said, “There is no question that
Professor Tom Campbell was the subject of a video interview entitled, “Reason.tv: After Arnold: California gubernatorial candidate Tom Campbell on fixing the Golden State and embracing for inflation.” In the interview, Campbell says that the yearlong flurry of stimulus packages and bailouts “built up a tailwind for inflation.” Campbell also discusses his views on marijuana
Dean Tim Canova was quoted in an article in The Final Call entitled, “Banks Recover as Housing Foreclosures Hit Record Highs.” The article comments on banks that are wanting to repay the bailout money so that they can get around the rules and restrictions under the terms of the bailout. “The main motivation for returning
Professor Vernon Smith was featured in an article in the Bellingham Herald, entitled “Economist: Housing bubble caused Great Depression, too.” The article details Smith’s speech given at Western Washington University wherein he draws comparisons between the recent rise and fall of the housing market, and a similar boom and bust that occurred just before the
Professor Kurt Eggert’s previous scholarship was recently revisited in the “Keeping Current” section of the magazine, under the subtopic, “Securitization and the Holder in Due Course Doctrine.” His article, “Held up in Due Course: Predatory Lending, Securitization, and the Holder in Due Course Doctrine,” was said by the editors to be “one of the most
Professor Vernon Smith and Visiting Research Associate Steven Gjerstad published an op-ed in the Wall Street Journal entitled, “From Bubble to Depression?” The article discusses effects of the collapse of the housing-bubble on the economy. Smith and Gjerstad write, “Why does one crash cause minimal damage to the financial system, so that the economy can
Professor Ronald Rotunda published an op-ed in Chicago Tribune, entitled “Was Madoff good for the economy?” In this piece, Professor Rotunda discusses the Obama Administration’s economic stimulus plan. Professor Rotunda argues, “Perhaps it made sense during the Depression for the government to spend money when the alternative was people hiding cash in their mattresses. But
Professor Kurt Eggert was interviewed for an article in the Los Angeles Times, entitled “Financial regulators missed the big picture, big problems.” The article discusses the lack of oversight of subprime mortgage lenders that ultimately led to today’s financial crisis. “Whole chunks of the mortgage business, including securitization, were almost completely unregulated,” Professor Eggert stated.
Associate Dean Tim Canova was quoted in an article in the San Diego Union Tribune, entitled “Breaking up money-pit behemoths is necessary.” The article argues that the U.S. government should allow financial giants such as AIG to fail rather than attempting to prop them up. Regarding the spate of deregulation and lack of law enforcement