Do C.D.O.’s Have Social Value?
Room for Debate Blog, The New York Times
NEW YORK (April 27, 2010) – Professor Frank Partnoy published an opinion piece for The New York Times arguing that Collateralized Debt Obligations, the complex financial products at the center of the financial crisis, are of little or no social value. He explained why financial innovation is dangerous, argued that current innovations are not as new as most people think, and pointed out several important legal reforms that are not part of current financial proposals.
Read the blog.
Credit Default Swaps As Viable Substitutes for Credit Ratings
PHILADELPHIA (April 21-22, 2010) – Professor Frank Partnoy presented "Credit Default Swaps As Viable Substitutes for Credit Ratings," a co-authored article forthcoming in The University of Pennsylvania Law Review, at the annual Institute for Law and Economic Policy conference, held this year in the Turks and Caicos. The article will be available soon.
Wall Street beware: the lawyers are coming
LONDON (April 19, 2010) – Professor Frank Partnoy published an opinion piece in the Financial Times assessing the recent case brought by the Securities and Exchange Commission against Goldman Sachs.
Read the full article.
Make Markets Be Markets
NEW YORK (March 3, 2010) – Professor Frank Partnoy gave an 8-minute presentation at the Roosevelt Institute's conference "Make Markets Be Markets," in New York City. Other presenters included Joseph Stiglitz, George Soros, and Elizabeth Warren. Partnoy's presentation, entitled "Off-Balance Sheet Transactions," has been widely distributed in the media and on blogs. It explains, in simple terms, how and why bank balance sheets are fiction.
Watch the video.
USD Securities Law Center Aims to Shape Economic Dialogue
by Pat Broderick, Los Angeles Daily Journal
SAN DIEGO (January 25, 2010) – Frank Partnoy, a professor of law and finance at the University of San Diego School of Law, hopes that his new Center for Corporate and Securities Law will help shape dialogue—both nationally and internationally—on the economy.
Read the full article (pdf).
USD Law Professor Frank Partnoy Interviewed on 60 Minutes
SAN DIEGO (May 17, 2009) – Today University of San Diego School of Law Professor Frank Partnoy was interviewed by Steve Kroft on CBSs 60 Minutes. Professor and financial expert Frank Partnoy says top executives and traders at AIG were earning salaries comparable to superstar athletes.
Watch the 60 Minutes interview.
USD Law Professor Frank Partnoy Interviewed on The Daily Show with Jon Stewart
NEW YORK (May 12, 2009) – Professor Frank Partnoy was interviewed by Jon Stewart on Comedy Central's The Daily Show. Professor Partnoy discussed his latest book, The Match King: Ivar Kreuger, The Financial Genius Behind a Century of Wall Street Scandals. At the height of the roaring ’20s, Swedish émigré Ivar Kreuger made a fortune raising money in America and loaning it to Europe in exchange for matchstick monopolies. His enterprise was a rare success story throughout the Great Depression. Yet after Kreuger’s suicide in 1932, the true nature of his empire emerged. Driven by success to adopt ever-more perilous practices, Kreuger had turned to shell companies in tax havens, fudged accounting figures, off-balance-sheet accounting, even forgery. He created a raft of innovative financial products — many of them precursors to instruments wreaking havoc in today’s markets. When his Wall Street empire collapsed, millions went bankrupt.
Watch The Daily Show interview in its entirety.