In the 1980s and early 1990s, many observers believed that the American corporate bankruptcy laws were desperately inefficient. The managers of the debtor stayed in control as "debtor in possession" after filing for bankruptcy, and they had the exclusive right to propose a reorganization plan...

Only a few times in the nation's history have corporate scandals equaled or exceeded the abuses uncovered over the past few years. But arguably never has so little been done to correct them. This law professor lists the reforms that President Bush might have proposed to make corporate America...

We analyze a sample of large Chapter 11 cases to determine which factors motivate the choice of filing in one court over another when a choice is available. We focus in particular on the Delaware court, which became the most popular venue for large corporations in the 1990s. We find no evidence...

Legal scholars have long debated the role for courts in with respect to governmental action in response to crisis. Most of those crises, however, are exogenous to the political process. The courts' role in response to politically endogenous crises is more complicated. We evaluate the role of the...

The 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act increased the powers of the Board of Governors of the Federal Reserve System along almost all dimensions pertaining to the supervision and operation of systemically important financial institutions. The authors argue that in...