John C. Coffee Jr.. the Adolf A. Berle Professor of Law at Columbia University Law School and director of its Center on Corporate Governance, writes: Last week, the Senate Banking committee heard testimony from eight witnesses on what policy changes were required to address the current financial crisis. The first witness, a modest, humble law professor from Columbia, argued that the recent collapse of investment banks, insurance companies, and hedge funds showed the need for a "systemic risk regulator."
New York Law Journal
March 19, 2009
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