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Fiduciary Duty, Subprime Lending and the Economic Downturn

Posted: 18 Aug 2010  

Cheryl Lyn Wade

St. John's University - School of Law

Date Written: August 16, 2010

Abstract

This article explores decision making relating to the compensation of executives of the Wall Street firms and mortgage companies that entered into the subprime and predatory lending debacle that precipitated the economic crisis in the first decade of the 21st Century. Obviously, the determination of their compensation involves questions relating to the fiduciary duty of loyalty. A more controversial issue involves the decision executives made to enter the subprime market and whether executives breached the duty of good faith owed to their shareholders.

Suggested Citation

Wade, Cheryl Lyn, Fiduciary Duty, Subprime Lending and the Economic Downturn (August 16, 2010). Available at SSRN: https://ssrn.com/abstract=1660137

Cheryl Lyn Wade (Contact Author)

St. John's University - School of Law ( email )

8000 Utopia Parkway
Law School Building, Room 4-09
Jamaica, NY 11439
United States
718-990-6015 (Phone)

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