This paper offers a critique of a recent paper, entitled “Did Harvard Violate the Federal Securities laws? The Campaign Against Classified Boards of Directors,” that was issued by SEC Commissioner Daniel Gallagher and Professor Joseph Grundfest. Gallagher/Grundfest claim that...

Regulators generally have tried to address the problems posed by the excessive risk-taking of Systemically Important Financial Institutions (SIFIs) by placing restrictions on the activities in which SIFIs engage. However, the complexity of these institutions makes such attempts necessarily...

Regulators generally have tried to address the problems posed by the excessive risk-taking of Systemically Important Financial Institutions (SIFIs) by placing restrictions on the activities in which SIFIs engage. However, the complexity of these institutions makes such attempts necessarily...