Why did the financial scandals really happen? Why are they continuing to happen? In The Death of Corporate Reputation, Yale's Jonathan Macey reveals the real, non-intuitive reason, and offers a new path forward. For over a century law firms, investment banks, accounting firms, credit rating agencies and companies seeking regular access to U.S. capital markets made large investments in their reputations. They treated customers well and sometimes endured losses in transactions or business deals in order to sustain and nurture their reputations as faithful brokers and “gate-keepers.” This has changed completely . The existing business model among leading participants in today’s capital markets no longer treats customers as valued clients whose trust must be earned and nurtured, but as one-off “counter-parties” to whom no duties are owed and no loyalty is required . The rough and tumble norms of the market-place have replaced the long-standing reputational model in U.S. finance. 
 This book describes the transformation in American finance from the old reputational model to the existing laissez faire model and argues that the change came as a result of three factors: (1) the growth of reliance on regulation rather than reputation as the primary mechanism for protecting customers and (2) the increasing complexity of regulation, which made technical expertise rather than reputation the primary criterion on which customers choose who to do business with in today’s markets ; and (3) the rise of the “cult of personality” on Wall Street, which has led to a secular demise in the relevance of companies’ reputations and the concomitant rise of individual “rain-makers” reputation as the basis for premium pricing of financial services. This compelling book will drive the debate about the financial crisis and financial regulation for years to come -- both inside and outside the industry.

The Death of Corporate Reputation: How Integrity Has Been Destroyed on Wall Street (Applied Corporate Finance)

Business & Money

MacEy, Jonathan R.

Economics

Ft Pr

A number of changes in this edition reflect new developments such as changes in many large law firms due to major increases in entry level salaries for associates; important revisions in the Model Business Corporation Act; recent developments in asset-protection of limited liability companies; two important decisions in Delaware on the duties and liabilities of directors of publicly held companies; the enactment of the Securities Litigation Uniform Securities Act (SLUSA); the adoption of new regulations, Rule 10b-5-1 and 10b-5-2; and adoption of new regulations relating to full disclosure by registered publicly held companies (Regulation FD) and the independence of auditors.

Cases and Materials on Corporations Including Partnerships and Limited Liability Companies : Including Partnerships and Limited Liability Companies

Hamilton, Robert W.

Business

West Group

Fifth Edition by Robert W. Hamilton dated 1994 and published by West Publishing Co. 199 pages

Statutory Supplement to Cases and Materials on Corporations, 8th Edition

West Law School

This law school statutory supplement provides the minimum compilation of statutes needed for use in connection with Hamilton's Cases and Materials on Corporations, 5th. It includes verbatim and unedited copies of the current versions of the the Uniform Partnership Act (1914), the Uniform Partnership Act (1994), the Uniform Limited Partnership Act (1976) with the 1985 Amendments, the Model Business Corporation Act (1984), and excerpts from the 1969 Model Business Corporation Act consisting of the financial provisions dealing with par value and legal capital.

Statutory Supplement to Cases and Materials on Corporations Including Partnerships and Limited Liability Companies, Ninth Edition (American Casebooks)

Even in the wake of the biggest financial crash of the postwar era, the United States continues to rely on Securities and Exchange Commission oversight and the Sarbanes-Oxley Act, which set tougher rules for boards, management, and public accounting firms to protect the interests of shareholders. Such reliance is badly misplaced. In Corporate Governance, Jonathan Macey argues that less government regulation--not more--is what's needed to ensure that managers of public companies keep their promises to investors.
 Macey tells how heightened government oversight has put a stranglehold on what is the best protection against malfeasance by self-serving management: the market itself. Corporate governance, he shows, is about keeping promises to shareholders; failure to do so results in diminished investor confidence, which leads to capital flight and other dire economic consequences. Macey explains the relationship between corporate governance and the various market and nonmarket institutions and mechanisms used to control public corporations; he discusses how nonmarket corporate governance devices such as boards and whistle-blowers are highly susceptible to being co-opted by management and are generally guided more by self-interest and personal greed than by investor interests. In contrast, market-driven mechanisms such as trading and takeovers represent more reliable solutions to the problem of corporate governance. Inefficient regulations are increasingly hampering these important and truly effective corporate controls. Macey examines a variety of possible means of corporate governance, including shareholder voting, hedge funds, and private equity funds.
 Corporate Governance reveals why the market is the best guardian of shareholder interests.

Corporate Governance: Promises Kept, Promises Broken

Management & Leadership

Princeton University Press

Biography & History

Book by Macey, Jonathan R., Miller, Geoffrey P., Carnell, Richard Scott

Banking Law and Regulation: 2000 Statutory Supplement With Recent Cases and Developments

Carnell, Richard Scott

Miller, Geoffrey P.

Aspen Law & Business

Macey, Jonathan R., Miller, Geoffrey P., Carnell, Richard Scott

Banking Law and Regulation: 2002 Statutory Supplement With Recent Developments

The Fourth Edition of The Law of Banking and Financial Institutions brings exciting renovations to a classic casebook. Comprehensive updating is just the beginning. The authors have expanded the old structure to include more coverage of non-bank financial institutions, such as insurance companies and mutual funds. Other topics have been reorganized to reflect modern trends. Visual aids—virtual windows, for visual learners—have been added to clarify concepts and reinforce text. And finally, engaging problem exercises have been added to create a more dynamic learning environment. Tried-and-true features of The Law of Banking and Financial Institutions: <ul>
<li> clear, concise explanations that simplify and clarify a complex field of law </li> <li> lively and interesting note material and provocative discussion questions </li> <li> careful selection and judicious editing of cases </li> <li> fun problem sets, at graduating levels of difficulty, that reinforce concepts and give students practice applying law to specific facts </li> <li> critical analysis of the unifying features of each topic from an economic perspective </li> <li> complete, up-to-date, and detailed Teacher’s Manual </li> </ul>
 Featured in the Fourth Edition: <ul>
<li> coverage of non-bank financial institutions, such as insurance companies and mutual funds </li> <li> expanded and updated treatment of bank/nonblank combinations under the Gramm-Leach-Bliley Act </li> <li> unified organization of financial institutions, rather than focusing on depository institutions separately </li> <li> generous use of tables to clarify concepts and promote understanding </li> <li> additional problem sets that illustrate the application of the specific rules in each chapter, with answers in the Teacher’s Manual </li> </ul>
 If you haven’t seen the Fourth Edition, you haven’t seen The Law of Banking and Financial Institutions. Come; take a look at the expanded coverage, updated organization, problem sets, examples, and visual aids that constitute an important renovation of this classic edifice.

The Law of Banking and Financial Institutions

ASPEN PUB.

This book discusses state regulation and antitrust exemption in insurance markets.

Costly Policies: State Regulation and Antitrust Exemption in Insurance Markets (Aei Studies in Regulation and Federalism)

Insurance

AEI Press

See the best price to sell, buy, or rent books by MacEy, Jonathan R.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

Books by MacEy, Jonathan R.

See the best price to sell, buy, or rent books by MacEy, Jonathan R.. BookScouter helps to compare book prices from 25+ online bookstores and 30+ buyback vendors with a single search.

The Death of Corporate Reputation: How Integrity Has Been Destroyed on Wall Street (Applied Corporate Finance)

Cases and Materials on Corporations Including Partnerships and Limited Liability Companies : Including Partnerships and Limited Liability Companies

Statutory Supplement to Cases and Materials on Corporations, 8th Edition

Statutory Supplement to Cases and Materials on Corporations Including Partnerships and Limited Liability Companies, Ninth Edition (American Casebooks)

Corporate Governance: Promises Kept, Promises Broken

Corporate Governance: Promises Kept, Promises Broken

Banking Law and Regulation: 2000 Statutory Supplement With Recent Cases and Developments

Banking Law and Regulation: 2002 Statutory Supplement With Recent Developments

The Law of Banking and Financial Institutions

Costly Policies: State Regulation and Antitrust Exemption in Insurance Markets (Aei Studies in Regulation and Federalism)