ACTL Journal 92 Spring 2020
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Assigning Responsibilities in the Libor Scandal
1233 The Differential Management of Financial Illegalisms: Assigning Responsibilities in the Libor Scandal Thomas Angeletti How, in a context of growing critiques of financialization, can law contribute to protecting the legitimacy of finance? This paper argues that the assign- ment of responsibilities between individuals and organizations plays a deci- sive role, using the recent Libor scandal as an empirical illustration. To do so, the paper offers a Foucauldian framework, the differential management of financial illegalisms, dedicated to the study of illegalities in financial capi- talism. The comparison of the legal treatment of two manipulations of Libor, this key benchmark in financial markets, reveals how mid-level traders have been the object of criminal prosecution, while law undervalued the role of top managers and organizations. To capture how differential management is performed in practice, I analyze precisely how the conflict-resolution devices (criminal trial vs. settlement) and the social categorizations prevailing in the two manipulations of Libor favor different forms of responsibility, individual or organizational. I conclude by exploring the implications of law’s relation- ship to financial legitimacy. For more than a decade now, the financialization of capitalism (Krippner 2011; Van der Zwan 2014) has been the locus of many critiques. Financialization has been studied sufficiently to under- stand how much finance has invaded our daily lives (Martin 2002), without measuring necessarily fully its ramifications. The clear causality between the rise of wages in the financial sector and the rise in income inequality in the United Kingdom (Bell and Van Reenen 2013), the United States (Volscho and Kelly 2012), and France (Godechot 2012) has put the financial sector on the spot. -
The Unbelievable Story of an Awkward Maths Genius, A
<HELP> for explanation, <MENU> for similar functions LieBOR THE UNBELIEVABLE STORY OF AN AWKWARD MATHS 1) Tom Hayes (Trader) -10.12 GENIUS, A GANG OF BACKSTABBING 2) Tom's Brokers (Cabal) -66.69 BANKERS, AND THE 3) David Enrich (Author) 21.03 JOURNALIST WHO UNCOVERED ONE OF THE GREATEST SCAMS EVER TRIED IN 4) The Libor rigging scandal (Global Crisis) -176.12 FINANCIAL HISTORY Words by Joseph Bullmore The trader at the centre of the scandal: Asperger's sufferer Tom Hayes, currently serving an 11-year term in jail GENTLEMAN’S JOURNAL FEATURES 77 he Libor is the most important number in the world. It’s also probably the they didn’t raise suspicions harems of escorts – and often all five in com- THE How they did it... THE most boring. A single figure that underpins modern capitalism, the Libor (or SCAM among their managers, while EXCESS bination. Some stories were too salacious to T London Interbank Offered Rate) is the theoretical rate at which banks will their managers would invariably Trader 1: make the final edit. ‘This one broker – he lend to each other – the price, essentially, of borrowed money. The magazine you turn a blind eye in the face of ‘What's the call called himself Danny the Animal – was brag- hold in your hands at this very moment is drenched in Libor – it soaks through the ‘The thing about Tom is he’s very literal – no healthy profit spikes. (‘Where on the Libor?’ ‘At a certain point during my in- ging about how he’d stocked a boat in the credit card you used to pay for it, the price of printing ink, the mortgage overheads sense of sarcasm or subtlety,’ Enrich tells me. -
2020 Impact Report
IMPACT REPORT 2020 ABOUT THIS REPORT This report covers United Way’s 2020 fiscal year (July 1, 2019 through June 30, 2020). For the latest information about our work, visit YourUnitedWay.org. CONTENTS INTRODUCTION 4 OUR SERVICE AREA 6 STEPS TO SUCCESS 7 LETTER FROM JAMES L. M. TAYLOR, PRESIDENT & CEO 8 LETTER FROM LORI ELLIOTT JARVIS, BOARD CHAIR 8 2020 BOARD OF DIRECTORS 9 FUNDING 10 2020-22 COMMUNITY INVESTMENTS 12 COMMUNITY VOLUNTEERS 14 UNITED WAY IN THE COMMUNITY 16 KINDERGARTEN COUNTDOWN CAMP 18 VOLUNTEER INCOME TAX ASSISTANCE 20 WORKFORCE PARTNERSHIP TEAM 24 VOLUNTEERING 27 CORPORATE PARTNERSHIPS 32 COVID-19: LEADERSHIP IN A TIME OF CRISIS 34 2020 STEPS TO SUCCESS AWARDS 36 GIVING COMMUNITIES 38 2020 FINANCIALS 48 Impact Report | 3 INTRODUCTION 4 | United Way of Greater Richmond & Petersburg Impact Report | 5 OUR SERVICE AREA We serve the region’s neighborhoods and rural areas alike – 11 localities in all. 6 | United Way of Greater Richmond & Petersburg STEPS TO SUCCESS Our Steps to Success model identifies nine key milestones on the path to prosperity and serves as the framework for everything we do. Impact Report | 7 FROM OUR LEADERSHIP September 2020 September 2020 Thank you for reading United Way of Greater Richmond & Our region is changing rapidly, and the needs of our communities Petersburg’s 2020 Impact Report. I am glad to be able to share this are changing just as quickly. That has never been truer than it is moment of reflection with you. right now in 2020. 2020 has been a challenging and tumultuous year for everyone in Now more than ever, United Way of Greater Richmond & our region. -
Kentucky Lawyer, 1993
KENTUCKY UNIVERSITY OF KENTUCKY COLLEGE OF LAW-1993 APANTHEON OF DEANS: Tom Lewis, Bob Lawson, David Shipley and Bill' Campbell Ci David Shipley becomes Dean of the College of Law he College of Law welcomes David E. fall. His areas of legal expertise are copyright and ad Shipley as its new dean, effective July 1, ministrative law. His most recent publication is a 1993. Dean Shipley comes to us from the casebook, Copyright Law: Cases and Materials, West ~---~ University of Mississippi School of Law, Publishing 1992, with co-authors Howard Abrams of the where he served as Dean and Director of the Law Center University of Detroit School of Law and Sheldon for the last three years. Halpern of Ohio State University. Shipley also has Dean Shipley was raised in Champaign, Illinois, and published two editions of a treatise on administrative was graduated from University High School at the Uni procedure in South Carolina entitled South Carolina versity of Illinois. He received his B.A. degree with Administrative Law. He has taught Civil Procedure, Highest Honors in American History from Oberlin Col- Remedies, Domestic Relations and Intellectual Property lege in 1972, and is as well as Copyright and Administrative Law. In addi a 1975 graduate of tion, he has participated in a wide variety of activities the University of and functions sponsored by the South Carolina and Mis Chicago Law sissippi bars. School, where he Dean Shipley enjoys reading best-selling novels by was Executive authors such as Grisham, Crichton, Turow and Clancy as Editor of the Uni well as history books about the Civil War. -
Irreversible Error
Copyright © 2014 by The Constitution Project. All rights reserved. No part may be reproduced, stored in a retrieval system, or transmitted, in any form, or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of The Constitution Project. For other information about this report, or any other work of The Constitution Project, please visit our website at www.constitutionproject.org or email us at [email protected]. Cover art designed by Elias Moose THE CONSTITUTION PROJECT STAFF Larry Akey Scott Roehm Director of Communications Senior Counsel, Rule of Law Program Maria Cortina Hispanic Outreach Fellow Virginia E. Sloan President Jennifer Donley Development Coordinator Katherine Stern Senior Counsel, Christopher Durocher Rule of Law Program Government Affairs Counsel Sarah E. Turberville Louis Fisher Senior Counsel, Scholar in Residence Criminal Justice Program Kayla Haran Stephen I. Vladeck Program Assistant Supreme Court Fellow Sarah McLean Brian Yourish Communications Coordinator Office Manager I. Scott Messinger Chief Operating Officer The Constitution Project promotes constitutional rights and values by forging a non-ideological consensus aimed at sound legal interpretations and policy solutions. The Constitution Project | iii Irreversible Error iv | The Constitution Project TABLE OF CONTENTS The Death Penalty Committee .......................................................................... vii Acknowledgements ............................................................................................. -
State of the States 2010: HOW the RECESSION MIGHT CHANGE
STATE OF THE STATES 2010 HOW THE RECESSION MIGHT CHANGE STATES FEBRUARY 2010 The Pew Center on the States is a division of The Pew Charitable Trusts that identifies and advances effective solutions to critical issues facing states. Pew is a nonprofit organization that applies a rigorous, analytical approach to improve public policy, inform the public and stimulate civic life. PEW CENTER ON THE STATES Susan K. Urahn, managing director ProJect Team: Editors Graphics and Design Diane Fancher Danny Dougherty Lori Grange Design and Publications Barbara Rosewicz Evan Potler Writers Carla Uriona Stephen C. Fehr Pamela M. Prah Christine Vestal ACKNOWLEDGMENTS In addition to those listed above, we would like to recognize and thank Pew colleagues who assisted in this publication. Planning and conception: Katherine Barrett, Doug Chapin, Richard Greene, Kil Huh, Michele Mariani Vaughn, Andrew McDonald and Albert Wat. Photo research: Daniel C. Vock. Reporting assistance: David Harrison. Editorial research: Sarah Emmans, Tiffany Ward and Katharine Zambon. Fact-checking: Nancy Augustine, Megan Cotten, Samuel Derheimer, Melissa Maynard, Matt McKillop, Morgan Shaw and Liz Snyder. Communications: Andrew McDonald and Sarah Holt. Dissemination: Julia Hoppock, Jennifer Peltak, Frederick Schecker and Cari Sutton. We thank the Pew Center on the States project teams for their contributions. We also thank Marcia Kramer of Kramer Editing Services for her editorial assistance. For additional information on Pew and the Center on the States, please visit www.pewcenteronthestates.org. This report is intended for educational and informational purposes. References to specific policy makers or companies have been included solely to advance these purposes and do not constitute an endorsement, sponsorship or recommendation by The Pew Charitable Trusts. -
UK Law Notes, 2017
fall 2017 fall LAW NOTESuniversity of kentucky college of law Paying it Forward page 22 CREDITS DEAN 14 DAVID A. BRENNEN DIRECTOR OF MARKETING & COMMUNICATIONS ASHLEY RITCHIE CONTRIBUTING WRITERS ALBERTINA ANTOGNINI CHARLES E. ENGLISH WHITNEY HARDER ASHLEY RITCHIE VIRGINIA DAVIS SCALES REBEKAH TILLEY 10 DESIGN ASHLEY RITCHIE PHOTOGRAPHY GRAD IMAGES J.A. LAUB PHOTOGRAPHY MARK CORNELISON PHOTOGRAPHY BY KELSEY RAE SHAUN RING PHOTOGRAPHY ASHLEY RITCHIE LEE P. THOMAS PHOTOGRAPHY PRINTING COPY EXPRESS ABOUT THIS MAGAZINE Law Notes is published annually for the alumni, students, faculty, staff 30 32 and friends of the University of Kentucky College of Law. All correspondence should be FACULTY IMPACT. directed to: TABLE 14 Law Notes Faculty Profile: Paul E. Salamanca UK College of Law 209 Law Building OF 15 United Way Campaign Lexington, KY 40506-0048 17 Developing Ideas Conference STATEMENT OF NON- CONTENTS DISCRIMINATION 20 Faculty Notes The University of Kentucky is committed to a policy of providing STUDENT IMPACT. ALUMNI IMPACT. educational opportunities to all academically qualified students 05 KLJ and KJEANRL Symposiums 22 Feature: Paying it Forward regardless of economic or social status and will not discriminate 06 Caleb Taylor: Bike the US for MS 30 Jason Sauer: Reporting for Duty on the basis of race, color, ethnic origin, national origin, creed, 08 In re Gault Symposium 32 Chief Justice Visits UK religion, political belief, sex, sexual orientation, marital status, age, 36 Class Notes veteran status, or physical or 10 Commencement mental disability. The University of Kentucky College of Law is a 12 Future Alum: Katelyn Brown 42 Honor Roll of Donors member of the Association of American Law Schools and is approved by the American Bar Association. -
The Libor Scandal: a Need for Revised National and International Reforms and Regulations
North East Journal of Legal Studies Volume 32 Fall 2014 Article 4 Fall 2014 The Libor Scandal: A Need For Revised National And International Reforms And Regulations Roy J. Girasa [email protected] Richard J. Kraus [email protected] Follow this and additional works at: https://digitalcommons.fairfield.edu/nealsb Recommended Citation Girasa, Roy J. and Kraus, Richard J. (2014) "The Libor Scandal: A Need For Revised National And International Reforms And Regulations," North East Journal of Legal Studies: Vol. 32 , Article 4. Available at: https://digitalcommons.fairfield.edu/nealsb/vol32/iss1/4 This item has been accepted for inclusion in DigitalCommons@Fairfield by an authorized administrator of DigitalCommons@Fairfield. It is brought to you by DigitalCommons@Fairfield with permission from the rights- holder(s) and is protected by copyright and/or related rights. You are free to use this item in any way that is permitted by the copyright and related rights legislation that applies to your use. For other uses, you need to obtain permission from the rights-holder(s) directly, unless additional rights are indicated by a Creative Commons license in the record and/or on the work itself. For more information, please contact [email protected]. 89 / Vol 32 / North East Journal of Legal Studies THE LIBOR SCANDAL: A NEED FOR REVISED NATIONAL AND INTERNATIONAL REFORMS AND REGULATIONS by Roy J. Girasa* Richard J. Kraus** INTRODUCTION Few individuals or even major investors are aware of the London Interbank Offered Rate (LIBOR), a little-known activity that profoundly affects local and world finances. The total value of securities and loans affected by LIBOR is approximately $800 trillion dollars annually. -
2006, the Voters of Colorado Elected Attorney General Suthers by a Large Margin to Serve a Full, Four-Year Term
Table of Contents Office of the Attorney General 4 Consumer Protection 7 Criminal Justice 15 Appellate Division 21 Natural Resources 24 State Services 29 Civil Litigation and Employment Law 32 Business and Licensing 36 4 COLORADO ATTORNEY GENERAL JOHN SUTHERS Attorney General John W. Suthers On January 4, 2005, John W. Suthers was appointed as Coloradoʼs 37th Attorney General. In November of 2006, the voters of Colorado elected Attorney General Suthers by a large margin to serve a full, four-year term. As Attorney General, Suthers is charged with representing and defend- ing the interests of the People of the State of Colorado, and serves as chief legal counsel and advisor to state gov- ernment, its statewide elected officials, and its many state agencies, boards, and commissions. Attorney General Suthers graduated magna cum laude from the University of Notre Dame with a degree in government in 1974, and from the University of Colorado Law School in 1977. From 1977 to 1981, he served as a deputy and chief deputy district attorney in Colorado Springs. From September of 1979 to January of 1981, he headed the Economic Crime Division of the DAʼs office and co- authored a nationally published book on consumer fraud and white-collar crime. In January of 1981, Mr. Suthers entered private practice as a litigation partner in Colorado Springs firm of Sparks Dix, P.C. He remained with the firm until Novem- ber of 1988, when he ran against and defeated the incumbent district attorney for the 4th Judicial District. He was elected to a second term as district attorney in 1992. -
COS Annual Single Page Version
2019 ANNUAL REPORT Table of contents Letter from the Director 4 Air service 5 Financials 7 Growth at COS 8 Destinations 10 Celebrations 11 Peterson Air Force Base 13 Airport improvements 14 Business development 15 Economic impact 16 Volunteers 17 Comission and Task Force members 18 3 Celebrating a big year A message from our director, Greg Phillips For those traveling over the past year, you saw firsthand that it was a Welcome to Colorado Springs Airport’s year of construction in the COS terminal following the tragic terminal (COS) first ever Annual Report 2019 was fire that occurred on April 16, 2018 I’m happy to note that 2019 marked a tremendous year for COS and there are the completion of most of the terminal renovations and upgrades, with so many great things happening at the only a few projects left for completion in 2020 When complete, the Airport It’s my sincere pleasure to share entire public side of the terminal on all three floors will have been fully in this report the progress our team has renovated and updated to brand new standards If you haven’t seen it yet, made in order to better serve all our stop by I think you’ll be impressed citizens over the last year Here are a few of the highlights you’ll find in this report For general aviation, this past year also marked continued growth, where we saw a number of hangars constructed for westside tenants, First, in air service, 2019 continued a trend including a significant expansion by the world class National Museum of growth at COS in a number of ways, of WWII Aviation For -
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,. _foui1-u-iffe-:J.effeuon C!.ountJg:Jublfo . :befende't C!.o'tpo'tation LOUISVILLE METRO PUBLIC DEFENDER ADVO CACY PLAZA 701-719 WEST JEFFERSON STREET LOU ISVILLE, KEN TUCKY 40202-2732 502-574-3800 Fax 502-574-1414 e-mail: [email protected] Web site: www.louisvillemetropub licdefender .org LEO G. SMITH DANIELT . GOYETTE EXECUTIVE DIRECTOR DEFENDER EMERITUS CHIEF PUBLIC DEFENDER November25, 2019 The HonorableMatt Bevin Governor of Kentucky State Capitol Building,Suite 100 700 capital Avenue Frankfort, KY 40601 Re: ClemencyRequest of GregoryW ilson Inmate No. 32847 KentuckyState Penitentiaryat Eddyville Dear Governor Bevin: Pleaseaccept this letter as a request for the commutation of GregoryWilson's death sentence. Mr. Wilson has been on death row at the KentuckyState Penitentiarysince October 31, 1988, following his conviction in Kenton Circuit Court for murder and other charges. Mr. Wilson is 62 years old and has spent literally half of his life on Kentucky'sdeath row, where he will undoubtedly die, one way or another. There is no issue of public safety involved, only a fair adjudication and a just resolution. As will be delineatedbelow, there are a multitude of reasons to commute his sentenceto life without parole, and no legitimate purposewill be served by seeking his execution. Fundamentalunfairness permeatedMr. Wilson'scapital prosecutionin Kenton County. From the start, the proceedingswere rife with legal error, malpractice,conflicts of interest, unprofessionalconduct and highly inappropriateacts by judicial officers. Abandonedby his assigned counseland left with unprepared,inept, unqualifiedvolunteer attorneys, his efforts to obtain qualified, prepared counselwere met with a mistakenconclusion that he wanted to represent himself. As a result of the abandonmentand incompetenceof his assigned lawyers, Mr. -
The Human Rights Report Action P
Executive Director’s Message p 2 SCHR’s New Capital Defense Training Program p 3 The Price of Prison Privatization p 4 SCHR Settles Indigent Defense Class The Human Rights Report Action p 6 2012 Annual Newsletter of the Southern Center for Human Rights n www.schr.org SCHR Litigation Updates p 10 Honoring Steve Bright at the 2012 Frederick Douglass Dinner p 14 Celebrating Steve Bright’s First 30 Years at the Southern Center for Human Rights by George H. Kendall hirty years ago, Steve Bright departed Washington, DC, for Atlanta in a Glickman (now DC Court of U-Haul truck. He had just become the Executive Director of the then-South- Appeals Judge Stephen Glick- ern Prisoners Defense Committee (SPDC), a small organization dedicated man), Andy Lipps, Ellen Kreitz- Tto seeing that indigent prisoners throughout the American South had access burg, and others – signed on. By to legal counsel for post-conviction and prison conditions matters. assuring Palmer Singleton that The SPDC Board had pursued Steve for months. Although still a young attorney, the sailing on Lake Lanier was his reputation as a tireless, forceful, and highly skilled advocate had traveled widely. comparable to the Great Lakes, In two years at Apple Red, a legal services office in Kentucky, three at DC’s vaunted Steve lured Palmer to join SPDC. Public Defender Service, and three more as Executive Director of the DC Law Students Steve also reached out to the few In Court Program, he set the standard for excellence in advocacy and client relations. foundations that would consider The Board also sought Steve for yet another reason: beginning in 1980, Steve had funding capital representation, taken on, in his spare time, the representation of four condemned inmates in Geor- and began to bring in resources Daily ReportFulton photo gia, and had become thoroughly familiar with capital punishment and habeas corpus to set SPDC on more secure Stephen B.