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The Disappearance of Qs: A Knockout Punch to Securitizations?
Securitization markets are reeling from a devastating series of blows. It began last year with the subprime crisis. This year ' so far ' has brought a credit crisis, the collapse of the stock market, and the disappearance of major financial institutions. Meanwhile, politicians and regulators, looking for explanations and scapegoats, are considering new regulatory schemes to “rein in” a securitization system that former Federal Reserve Chairman Alan Greenspan recently told Congress was at the heart of the breakdown of credit markets. (See, remarks of Alan Greenspan before the House Committee on Oversight and Government Reform on Oct. 23, 2008. In his testimony, Dr. Greenspan felt constrained to make his own proposal for securitization reform. “As much as I would prefer it otherwise, in this financial environment I see no choice but to require that all securitizers retain a meaningful part of the securities they issue. This will offset in part market deficiencies stemming from the failures of counterparty surveillance.”)
So, it is no surprise that the securitization markets resemble a battered boxer who is struggling to stay on his feet while hoping to avoid the next, possibly final, punch. The accounting industry may be poised to deliver that punch. Proposed changes to accounting rules for securitization vehicles will further challenge this already fragile market, threatening its role as a significant source of liquidity.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
The Article 8 Opt In
The Article 8 opt-in election adds an additional layer of complexity to the already labyrinthine rules governing perfection of security interests under the UCC. A lender that is unaware of the nuances created by the opt in (may find its security interest vulnerable to being primed by another party that has taken steps to perfect in a superior manner under the circumstances.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Transfer Tax Implications on Real Property Leases
The real property transfer tax does not apply to all leases, and understanding the tax rules of the applicable jurisdiction can allow parties to plan ahead to avoid unnecessary tax liability.