21 Pages Posted: 23 Jun 2011
Date Written: July 2011
Certain financial market practices, previously denied or disregarded by financial market regulators, are being redefined as candidates for active investigation and enforcement. This article contrasts the passive stance of the U.S. Securities and Exchange Commission vis‐à‐vis the Madoff fraud with its relatively diligent but now settled Complaint against Goldman Sachs. The article also explores compromises in the EU's approach to market regulation of information asymmetry, suggesting that grounds for pessimism outweigh those for hope. The introduction sets the context, describing aspects of the first leg of the crisis (states bail out banks) and the second leg (states themselves come under strain).
Suggested Citation: Suggested Citation
Dorn, Nicholas, Regulatory Sloth and Activism in the Effervescence of Financial Crisis (July 2011). Law & Policy, Vol. 33, Issue 3, pp. 428-448, 2011. Available at SSRN: https://ssrn.com/abstract=1870728 or http://dx.doi.org/10.1111/j.1467-9930.2011.00342.x
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