Suchergebnisse

Forty acres or a savings bank -- Capitalism without capital -- The rise of black banking -- The new deal for white America -- Civil rights dreams, economic nightmares -- The decoy of black capitalism -- The free market confronts black poverty -- The color of money matters

A new paradigm is afoot in banking regulation-and it involves a turn toward the more speculative. Previous regulatory instruments have included geographic restrictions, activity restrictions, disclosure mandates, capital requirements, and risk management oversight to ensure the safety of the banking system. This Article describes and contextualizes these regulatory tools and shows how and why they were formed to deal with industry change. The financial crisis of 2008 exposed the shortcomings in each of these regimes. In important ways, the Wall Street Reform and Consumer Protection Act of 2010 ('Dodd-Frank') departs from these past regimes and proposes something new: Call it "Regulation by Hypothetical." Regulation by hypothetical refers to rules duly promulgated under appropriate statutory and regulatory mechanisms that require banks and their regulators today to make predictions about sources of crisis and weakness tomorrow. Those predictions-which, by their very definition, are conjectural and speculative, even hypothetical-then become the basis of the use of the state's regulatory power. This Article discusses two prominent instances of regulation by hypothetical: stress tests and living wills. It then discusses the strengths and weaknesses of such a regime and describes how the reliance on regulation by hypothetical can exacerbate the practice of government sponsorship of private financial risk taking. The Article then provides a solution that would strengthen this regime: using financial war games to increase the predictive value of the hypothetical scenarios.

Frontmatter -- Contents -- List of Contributors -- A Note on Language -- Foreword -- Excerpts -- Playing in the Dark: Whiteness and the Literary Imagination (1992) -- Soul by Soul: Life Inside the Antebellum Slave Market (2000) -- Violence over the Land: Indians and Empires in the Early American West (2006) -- Southern Horrors: W omen and the Politics of Rape and Lynching (2009) -- Freedom Struggles: African Americans and World War I (2009) -- The Condemnation of Blackness: Race, Crime, and the Making of Modern Urban America (2010) -- Seeing Patients: Unconscious Bias in Health Care (2011) -- Bengali Harlem and the Lost Histories of South Asian America (2013) -- Lines of Descent: W. E. B. Du Bois and the Emergence of Identity (2014) -- From the War on Poverty to the War on Crime: The Making of Mass Incarceration in Amer i ca (2016) -- Dark Ghettos: Injustice, Dissent, and Reform (2016) -- Bound in Wedlock: Slave and Free Black Marriage in the Nineteenth Century (2017) -- The Fateful Triangle: Race, Ethnicity, Nation (2017) -- The Color of Money: Black Banks and the Racial Wealth Gap (2017) -- The Chinese Must Go: Vio lence, Exclusion, and the Making of the Alien in America (2018) -- The Injustice Never Leaves You: Anti- Mexican Vio lence in Texas (2018) -- The Privileged Poor: How Elite Colleges Are Failing Disadvantaged Students (2019) -- Hattiesburg: An American City in Black and White (2019) -- Marking Time: Art in the Age of Mass Incarceration (2020) -- Being Property Once Myself: Blackness and the End of Man (2020) -- Notes -- Credits