Both public and private debt is examined, including instruments and products of the US Treasury and other US government agencies, municipal bonds, corporate debt, commercial paper, certificates of deposit, leveraged leasing, factoring, repos, asset-based securitizations, reverses and swaps. The study of the funds transfer markets includes the Federal Reserve system, the discount window, Federal Funds and wire and other electronic funds transfer systems. The course focuses principally on the regulations of markets and the economic forces which underpin such regulation. Attention is given to the international markets. This course serves as a summation to the Graduate Program in Financial Services Law through an analysis of representative types of major financial products offered by various financial services entities.
Many classes are presentations given by attorneys who helped create the various products.
Each guest is asked to examine the significant legal, tax and market characteristics of the product. Consideration will be given to how these characteristics and the relevant regulatory mechanisms affect product design, delivery systems, and interchangeability of purpose, and how they respond to consumer needs. This course should be taken after the student has obtained a broad background from other courses in the Program. The course examines merger and acquisition issues of special importance to banks, insurance companies, brokerage firms and other financial services institutions combined with the antitrust problems arising in these situations. This course examines basic and advanced problems of insolvency, liquidation and reorganization proceedings involving banks, insurance companies, pension funds, brokerage firms, commodities firms, and other financial institutions and their customers.