{"title":"Mortgage Credit (Loans and Bonds) Bill 2012","authors":"C. Larkin, S. Barrett","doi":"10.2139/ssrn.2279436","DOIUrl":"https://doi.org/10.2139/ssrn.2279436","url":null,"abstract":"The Danish mortgage banking model was created in 1797 with the Kreditkassen following the 1795 Great Fire in Copenhagen which destroyed a large proportion of the city and left many homeless and created an instant and wide-ranging demand for housing. In order to meet this demand a pooling system was designed to obtain the necessary level of capital at a reasonable rate. Though bubbles were not entirely prevented throughout the history of the Danish system it is extremely robust and has acted as a moderating influence on the housing market in Denmark. The aim of this process is to provide capital to allow the housing and banking markets to mend. The Irish banking sector continues to mend its balance-sheets. That places a priority on banks having large capital backstops and limiting lending to the wider economy. The continued concerns about existing mortgage arrears and the recession-reduced household disposable incomes available to serve mortgages that are currently being serviced weighs heavily on the banks with respect to their lending decisions.","PeriodicalId":280037,"journal":{"name":"Law & Society: Legislation eJournal","volume":"97 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-10-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133086379","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Gambling Sausage: Federal Legislation in the New Millennium","authors":"Anastasios Kaburakis, R. Rodenberg","doi":"10.1089/GLRE.2012.1696","DOIUrl":"https://doi.org/10.1089/GLRE.2012.1696","url":null,"abstract":"This article summarizes federal legislation attempts during the past 14 years in the areas of online gambling and sport betting, arguably the most contentious gambling industry sectors. The paper first recaps the key pieces of legislation in effect as of mid-2012 governing the U.S. gambling industry. The major section of the paper follows, encompassing all legislative bills since the 106th Congress (1999-2000). Finally, this contribution attempts to forecast any possible outcomes of the pending New Jersey-led efforts for the repeal of the restrictive federal legislative framework in regard to sport betting.","PeriodicalId":280037,"journal":{"name":"Law & Society: Legislation eJournal","volume":"303 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-10-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121685487","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Paternalism, Libertarianism, and the Nature of Disagreement","authors":"Uliana Loginova, Petra Persson","doi":"10.2139/ssrn.2113974","DOIUrl":"https://doi.org/10.2139/ssrn.2113974","url":null,"abstract":"Regulation to protect individuals from self-harm, such as euthanasia prohibitions and safety mandates, is widespread but controversial. Opponents and proponents are often believed to differ in their valuation of individual liberty. We model an authority's decision to constrain or inform a population of agents prone to self-harm and propose an alternative view: A benevolent politician's decision to regulate an activity depends on whether she deems it a matter of preference or opinion. In the former case, she gives truthful advice and safeguards liberty; in the latter, she constrains liberty, believing that she acts in the population's interest.","PeriodicalId":280037,"journal":{"name":"Law & Society: Legislation eJournal","volume":"53 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-07-20","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127960660","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Updating Disclosure for the New Era of Independent Spending","authors":"Richard Briffault","doi":"10.2139/SSRN.2040934","DOIUrl":"https://doi.org/10.2139/SSRN.2040934","url":null,"abstract":"One of the most striking developments in recent elections has been the upsurge in spending by independent committees, particularly Super PACs and 501(c) nonprofit corporations, that are not technically affiliated with specific candidates or parties but that frequently work to promote or oppose specific candidates or parties. In many elections, these committees are de facto surrogates for the candidates they are aiding. Although our disclosure laws are reasonably effective at obtaining the disclosure of the identities of donors to candidates and parties, they fail to provide effective disclosure of the identities of the donors to independent committees. The Citizens United decision indicates that expanding disclosure to address the surge is independent is primarily a technical and political one, not a constitutional one, as the Court has strongly endorsed the disclosure laws and their application to independent committees.This article lays out a reform agenda for adapting our disclosure laws to this new era of independent spending. It addresses four issues: how to obtain the identities of the donors who contribute to organizations that engage in independent spending; how to define the election-related activity that triggers the duty to disclose; how to obtain the identities of the natural persons behind corporate contributions and expenditures; and how to assure that disclosure is made in a timely fashion.In earlier work, I have suggested that we require too much disclosure of personal information concerning relatively small donors. However, we currently provide too little information about the donors who are financing the independent committees that loom increasingly large over our elections. Rightsizing disclosure to enable voters to understand the financial forces behind our candidates requires that we both raise the monetary thresholds for disclosure and extend the ambit of disclosure to include the donors who are paying for independent spending.","PeriodicalId":280037,"journal":{"name":"Law & Society: Legislation eJournal","volume":"31 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-04-16","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"127003318","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Citizens United, States Divided: An Empirical Analysis of Independent Political Spending","authors":"D. Spencer, A. Wood","doi":"10.2139/SSRN.2046878","DOIUrl":"https://doi.org/10.2139/SSRN.2046878","url":null,"abstract":"What effect has Citizens United v. FEC had on independent spending in American politics? Previous attempts to answer this question have focused solely on federal elections where there is no baseline for comparing changes in spending behavior. We overcome this limitation by examining the effects of Citizens United as a natural experiment on the states. Before Citizens United about half of the states banned corporate independent expenditures and thus were “treated” by the Supreme Court’s decision, which invalidated these state laws. We rely on recently released state-level data to compare spending in “treated” states to spending in the “control” states that have never banned corporate or union independent expenditures. We find that while independent expenditures increased in both treated and control states between 2006 and 2010, the increase was more than twice as large in the treated states and nearly all of the new money was funneled through nonprofit organizations and political committees where weak disclosure laws and practices protected the anonymity of the spenders. Finally, we observe that the increase in spending after Citizens United was not the product of fewer, larger expenditures as many scholars and pundits predicted, and we note that people were just as likely to make smaller expenditures (less than $400) after Citizens United as they were before. This finding is particularly striking because it cuts against the conventional wisdom of spending behavior and also challenges the logic of those who disagree with the most controversial element of the Citizens United decision – the rejection of political equality as a valid state interest.","PeriodicalId":280037,"journal":{"name":"Law & Society: Legislation eJournal","volume":"370 ","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-04-14","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134545818","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Municipal Rights: Home Rule in West Virginia","authors":"A. J. Webb","doi":"10.2139/SSRN.2169493","DOIUrl":"https://doi.org/10.2139/SSRN.2169493","url":null,"abstract":"In the United States, the financial crisis that started in December 2007 and entered full force by September 2008 has left many municipalities in financial depredation. Dwindling tax bases are forcing cities to reevaluate services, employment, and basic utilities; however, cities and other municipalities are quite limited in how they may respond to fiscal constraints due to Dillon’s Rule provisions that are prevalent in numerous state constitutions. The basis of these provisions, to be described in greater detail henceforth, requires state legislative approval on many matters of city government. Unless the municipality first obtains permission from the legislature it cannot adjust services and taxes accordingly. In response to these restrictions, municipalities around the United States have been petitioning state legislatures to allow the adoption of home rule. Such has been the case in West Virginia where the legislature has provisionally adopted a municipal home rule pilot program that allows select municipalities that apply and receive approval to enact a limited number of measures directly relating to that municipality. This paper will summarily research the history of home rule and Dillon’s Rule doctrines as well as their usage and success in West Virginia, the Home Rule Pilot Project with particular focus on the four cities under the Project, the implementation of home rule programs in Pittsburgh, Pennsylvania, and Colorado Springs, Colorado, and then this paper will recommend changes to the Home Rule Pilot Project while discussing the feasibility of those changes. Research on this topic is imperative today as many cities are moving to home rule doctrines in order to change city services; further, West Virginia’s Home Rule Pilot Project is set to be reviewed in 2013, making public awareness of the topic necessary.","PeriodicalId":280037,"journal":{"name":"Law & Society: Legislation eJournal","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-03-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"123682275","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Understanding Electoral Frauds Through Evolution of Russian Federalism: The Emergence of ‘Signaling Loyalty’","authors":"K. Kalinin, W. Mebane","doi":"10.2139/ssrn.1668154","DOIUrl":"https://doi.org/10.2139/ssrn.1668154","url":null,"abstract":"We argue that the pattern of fraudulent elections in Russia can be explained by combining ideas about federalism with a formal signaling game model. We argue that the changing pattern of electoral frauds from the mid-1990s to the 2000s can be explained by changes in rational strategies of regional governors tied to the evolution of Russian federal relations. While in the mid-1990s Russian governors provided the center with favorable electoral outcomes in exchange for political, institutional and financial resources, in the 2000s political recentralization led governors to send signals about their loyalty to the Center by means of fraudulently augmented turnout, receiving certain rewards in exchange, such as postelectoral fiscal transfers. The argument is supported by statistical analysis of empirical data.","PeriodicalId":280037,"journal":{"name":"Law & Society: Legislation eJournal","volume":"36 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122925941","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Resolving Election Error: The Dynamic Assessment of Materiality","authors":"Justin Levitt","doi":"10.2139/SSRN.1477663","DOIUrl":"https://doi.org/10.2139/SSRN.1477663","url":null,"abstract":"The ghosts of the 2000 presidential election will return in 2012. Photo-finish, and error-laden, elections recur in each cycle. When the margin of error exceeds the margin of victory, officials and courts must decide which, if any, errors to discount or excuse, knowing that the answer will likely determine the election’s winner. Yet despite widespread agreement on the likelihood of another national meltdown, neither courts nor scholars have developed consistent principles for resolving the errors that cause the chaos.This Article advances such a principle, reflecting the underlying values of the electoral process. It argues that the resolution of an election error should turn on its materiality: whether the error is material to the eligibility of a voter or the determination of her ballot preference. In developing this argument, the Article offers the first transsubstantive review of materiality as a governing principle. It then introduces the insight that, unlike the evaluation of materiality in other contexts, the materiality of a voting error may be reassessed over time. This dynamic assessment of materiality best accommodates the purposes of a decision rule for election error. Indeed, the insight is most powerful when the stakes are highest: when an election hangs in the balance. Finally, the Article discusses the pragmatic application of the materiality principle, including the invigoration of an underappreciated federal statute poised to change the way that disputed elections are resolved, in 2012 and beyond.","PeriodicalId":280037,"journal":{"name":"Law & Society: Legislation eJournal","volume":"117 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2012-02-19","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131954697","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"Subnational Appointments in Authoritarian Regimes: Evidence from Russian Gubernatorial Appointments","authors":"O. J. Reuter, Graeme B. Robertson","doi":"10.2139/ssrn.1972857","DOIUrl":"https://doi.org/10.2139/ssrn.1972857","url":null,"abstract":"Elections are among the most important and least understood institutions in contemporary authoritarian regimes. Theoretically, electoral authoritarian regimes should have an informational advantage that makes them more robust than other types of authoritarian regimes, but much empirical evidence suggests otherwise. In this paper we offer a new perspective on why this might be the case. Specifically, we consider how authoritarian elections influence a ruler’s choices in making cadre appointments. We argue that the imperative of winning authoritarian elections forces authoritarian leaders to prioritize the appointment of politically loyal cadres, who can help the regime win elections. This choice often comes at the expense of appointing officials who are competent at making good public policy and promoting economic development, factors that may contribute to long-term regime stability. We test this theory using an original dataset of gubernatorial appointments in one leading contemporary authoritarian regime, Russia.","PeriodicalId":280037,"journal":{"name":"Law & Society: Legislation eJournal","volume":"13 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-12-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121876428","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
{"title":"The Role of Tax Reform in Deficit Reduction","authors":"Edward D. Kleinbard","doi":"10.2139/ssrn.1931142","DOIUrl":"https://doi.org/10.2139/ssrn.1931142","url":null,"abstract":"Income tax reform discussions too often are exercises in tax nostalgia. The Tax Reform Act of 1986 was revenue neutral because it could afford to be. (It also was preceded and followed by major tax increases.) The fact that we must raise revenues today means that a contemporary incremental income tax reform effort will look different, not that it is impossible. Unlike in 1986, when the tax system overflowed with unintended tax shelters that could be cleaned up and traded off against lower rates, modern tax reform must tackle some of the deliberate Congressional subsidy programs baked into the tax code, which is to say, tax expenditures. Of these, the most important to address are the personal itemized deductions. They are extraordinarily costly - about $250 billion/year in forgone tax revenues. And they are inefficient, poorly targeted and unfair. The personal itemized deductions invariably are described as political “sacred cows.” But they are sacred cows that we can no longer afford to maintain. Either we eliminate these sacred cows, or we allow them to stampede over us. Incremental income tax reform also must address the corporate income tax, but here there is no choice but a revenue-neutral approach, because the U.S. corporate rate is now a global outlier. A corporate tax reform package should be fashioned along the following lines: (1) Eliminate business tax expenditures; (2) Reduce the corporate tax rate to a rate in the range of 25-27 percent; (3) Tax multinationals on their worldwide income through worldwide tax consolidation. The resulting corporate tax system would represent a huge competitive boost for American domestic firms, would attract inward investment, and would provide a fair tax environment for U.S.-based multinationals.","PeriodicalId":280037,"journal":{"name":"Law & Society: Legislation eJournal","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2011-12-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129218052","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}