REFinBlog

Editor: David Reiss
Brooklyn Law School

Monthly Archives: November 2012

Fleisher: “Why a Tax Crackdown Is Not Needed on Mortgage-Backed Securities”

November 26, 2012

by Brad Borden

In Why a Tax Crackdown Is Not Needed on Mortgage-Backed Securities, Professor Vic Fleisher argues that IRS enforcement of tax laws governing REMICs will merely complicate efforts to properly fix blame and allocate the costs of the financial crisis. Professor … Continue reading

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Borden & Reiss: “An Uneasy Justification for Prosecutorial Abdication in the Subprime Industry

by Brad Borden

In an Uneasy Justification for Prosecutorial Abdication in the Subprime Industry, Professors Brad Borden and David Reiss argue that individuals must be accountable for actions they took that led to the financial crisis. Failure to prosecute individuals will not deter similar behavior in … Continue reading

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Borden: “Did the IRS Cause the Financial Crisis?”

by Brad Borden

In Did the IRS Cuase the Financial Crisis, Professor Brad Borden explains that competent IRS audits of REMICs would have uncovered many of the problems that led to the financial crisis. Competent audits and tax enforcement of REMICs would therefore have … Continue reading

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Borden & Reiss: “Wall Street Rules Applied to REMIC Classification”

by Brad Borden

In Wall Street Rules Applied to REMIC Classification, Professors Brad Borden and David Reiss explain how arrangements that fail to satisfy the REMIC requirements may benefit from the so-called Wall Street Rule. They argue, however, the IRS’s failure to audit REMICs may … Continue reading

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Federal District Court in Texas Rules That Third-Party Lacks Standing in Recording-Fee Case

November 20, 2012

by Karl Dowden

It appears that although courts may be receptive to claims about lost recording fees because of MERS, they won’t hear cases brought by third parties (at least, not in federal court). The citizens of a Texas county brought the claim … Continue reading

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Nevada Supreme Court Unanimously Rejects Irreparable Split Theory and Grants Bank Standing

by Karl Dowden

In Edelstein v. Bank of New York, the Nevada Supreme Court unanimously rejected the irreparable split theory. The theory was brought up to challenge the Bank’s standing to foreclose on the plaintiff’s property. The irreparable split theory provides that a … Continue reading

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“Downgrading Rating Agency Reform”

by David Reiss

This is the title of Jeffrey Mann’s forthcoming article.  He writes The most important part of the Act remains the most unresolved: the SEC’s mandate to design an alternative rating industry    business model to address the conflicts of interest created … Continue reading

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