Nexus: Chapman's Journal of Law and Public Policy

NeXus: Chapman’s Journal of Law and Public Policy presents

The 80th Anniversary of The Great Crash of 1929: Law, Markets, and The Role of The State

A Legal Symposium Friday October 30, 2009 9:30 a.m. to 5:00 p.m. Chapman University School of Law

Over a five day period beginning on October 24, 1929, the New York Stock Exchange dove nearly forty percent, beginning a sequence of market events that ultimately lead to the Great Depression. In recognition of the 80th anniversary of "The Crash of 1929," NeXus: Chapman's Journal of Law and Public Policy is pleased to host "Law, Markets, and the Role of the State," a symposium that will address the similarities between the historical and modern financial markets. With a new president, cabinet, and a host of planned legislative programs, significant questions have arisen regarding the role of the State when the nation faces economic crisis. Some questions are unique to the modern financial system; others draw reference to the response to the Crash of 1929. The purpose of this symposium is to explore the range of historical and current issues that arise within the intersection of the Law and the Market. The symposium will address such questions from both philosophical and practical viewpoints.

The symposium panelists have written extensively on regulatory law, monetary policy, and international economic responses to large-scale financial crises. The first panel will focus on the regulatory responses to past and present economic crises in the United States and abroad. The lunchtime keynote dialogue will focus on the implications of this recession for the California economy and state and local government finances. The second panel will consider the role of federal law and regulation in reforming the securities markets in light of current economic and financial conditions. The final panel will focus on a range of practical and theoretical issues concerning the role of the State in responding to financial crises, including the role of power in politics and currency markets, as well as constitutional and financial regulatory issues related to public sector intervention in markets in times of economic peril. To RSVP by mail, fax, phone, or email- please contact Chris Lewis at Chapman University School of Law, One University Drive, Orange, CA 92866. Tel: (714) 628-2605; Fax: (714)628-2564; chlewis@chapman.edu .

Lunchtime Keynote Address by Professor Tom Campbell and Dean Timothy Canova

Symposium Schedule

9:30 a.m. – 10:00 a.m. Check-in

Panel I: 10am-11:30 "The Economic and Regulatory Landscape in the Aftermath of the “Great Recession”

Professor Kurt Eggert (Moderator) Professor of Law, Chapman University School of Law

Dr. Michael Intriligator-"The Current Worldwide Financial and Economic Crisis” Professor of Economics, Political Science, and Public Policy at the University of California Los Angeles and Senior Fellow, the Milken Institute.

Professor Andrew Morriss- “Changing the Rules of the Game: Offshore Financial Centers, Regulatory Competition, & Financial Crises” H. Ross and Helen Workman Professor of Law & Professor of Business at The University of Illinois College of Law.

Professor Lydie Nadia Cabrera Pierre-Louis- “Financial Crisis Trifecta: Comparison of the Financial Collapse of 2008, Stock Market Crash of 1929 and the Panic on Wall Street of 1792.”Assistant Professor of Law at St. Thomas University School of Law

Professor Erik Gerding - “The Dangers of Dual Classes of Financial Institutions: How Sweden’s 1990 Financial Collapse Presaged the Global Financial Crisis” Associate Professor of Law at The University of New Mexico School of Law.

Lunchtime Keynote 11:45 -12:45 “The impact of the recession on California and the local economy”

Professor Hugh Hewitt (Moderator) Professor of Law at Chapman University School of Law & Nationally Syndicated Radio Host

Introduction: Congresswoman Loretta Sanchez- Representative of the 47th Congressional District of California.

Professor Tom Campbell “The state of California’s competitiveness” Former US Congressman and California State Senator. Presidential Fellow and 2010 Fletcher Jones Distinguished Visiting Professor of Law at Chapman University School of Law

Dean Timothy Canova “Public Sector Financial Reform” Associate Dean for Academic Affairs and the Betty Hutton Williams Professor of International Economic Law at Chapman University School of Law.

Panel II: 1:00pm – 2:15 p.m. "Federal Financial Regulatory Reform"

Dr. Vernon L. Smith (Moderator) Nobel Laurette in Economics (2002), Professor of Law and Economics and George L. Argyros Endowed Chair in Finance and Economics, Chapman University School of Law

Professor Lynne Dallas (Moderator) Professor of Law, University of San Diego

Professor Geoffrey Rapp – “False Claims, Not Securities Fraud: Towards Corporate Governance by Whistleblowers” Associate Professor of Law at the University of Toledo College of Law; Former Clerk for The Honorable Cornelia G. Kennedy, U.S. Court of Appeals for the 6th Circuit

Professor Robert Wagner- “Too Close for Comfort: The Problem with stationary SEC officers” Visiting Professor of Law at Case Western Reserve University School of Law

Professor J. Scott Colesanti “The Utility of Stock Market “Circuit Breakers” and Related Attempts at Curtailing Volatility” Assistant Professor of Law at Hofstra University School of Law

2:15-3:00 p.m. Intermission with cocktails and hors d'œuvres (law school lobby)

Panel III: 3:15 – 5:00 p.m. “Practical and Theoretical Implications of State Sponsored Financial Reform”

W. H. (Joe) Knight, Jr. (Moderator), Bette and Wylie Aitken Distinguished Visiting Professor of Law, Chapman University School of Law

Professor Roger Torneden “Circa-1934 Dollar Devaluation: Intended or Just Inevitable?” Professor of Law at University of California Los Angeles and Certified Financial Planner.

Professor Donald J. Kochan- “Black Tuesday and The Graying of the Legitimacy of Governmental Intervention: When Tomorrow is Just A Future Yesterday” Associate Professor of Law at Chapman University School of Law

Professor Kevin Tierney “Of Peaks and Valleys, Feast and Famine, Boom and Bust” Professor of Law at the University of California Hastings School of Law

Dr. Tom Reifer – “Lawyers, Money & Power: Wall Street Lawyers, Investment Bankers & Global Financial Crises, Late Nineteenth to Early Twenty-first Century.” Professor of Sociology, University of San Diego; Associate Fellow, Transnational Institute.

5:00 – 7:00 En Banc Reception for Authors, Presenters, Students, Faculty and Guests.

About the Nexus Journal of Law and Policy

The mission of this journal is to provide a forum for the vast array of individuals and groups that influence and shape American life. The Nexus Journal of Law and Policy aims to put legal scholarship before an audience of interested professionals, though not limited to legal scholars and practitioners. Thousands of leaders in academia, government, media, law professors, and of course federal and state judges, subscribe to our journal. The Nexus Journal of Law and Policy is the intersection where law, politics, economics, and media converge. Visit the Nexus website at www.lawschoolblog.org

To RSVP by mail, fax, phone, or email- please contact Chris Lewis at Chapman University School of Law, One University Drive, Orange, CA 92866. Tel: (714) 628-2605; Fax: (714)628-2564; chlewis@chapman.edu