Money Market Funds, Systemic Risk, and the Dodd-Frank Act, June 2012, a white paper analyzing whether money market funds create systemic risk and whether any basis exists under the Dodd-Frank Act for subjecting them to regulation by the Federal Reserve Board.
Shooting the Messenger: The Fed and Money Market Funds, March 2012, a white paper examining attacks by the Federal Reserve on money market funds.
The Financial Crisis of 2008-2009: Causes and Contributing Circumstances, areport prepared for the American Bar Association Task Force on the Causes of the Financial Crisis, August, 2009.
The Truth About Money Funds, a white paper clarifying the activities and role of money market funds in the financial markets, prepared for Federated Investors, Inc., February 2009.
The Group of Thirty Report: Misconceptions About Money Market Mutual Funds, prepared for Federated Investors, Inc., February 2009.
Money Market Mutual Fundsin a Low or Zero Rate Environment:The Fiduciary Standard of Prudence For Trustees, prepared for Federated Investors, Inc., January 2009. The Economic Stabilization Act of 2008 and Related Government Actions In Support of the U.S. Financial System, October, 2008.
Expanding the Federal Safety Net:Recent Actions by the Federal Reserve In Support of U.S. Financial Markets, a white paper prepared for Federated Investors, Inc., May, 2008.
The Convergence of Financial Products and the Implications for Regulatory Convergence, presented at a symposium titled “Can We Improve Policy-Making in Financial Services Regulation?” sponsored by American Enterprise Institute, January 24, 2007. Financial Institutions as Fiduciaries: Managing Conflicts of Interest in the Wealth Services Business, a Study Paper prepared for Federated Investors, Inc. 2006. An Analysis of the Morningstar Fiduciary Grades, prepared for Federated Investors, Inc., 2004. The Fiduciary Investment Process and the Reasonableness of Fees—Establishing New Benchmarks, prepared for Federated Investors, Inc., 2003. Regulating Convergence:Towards a Uniform Framework for Banking, Insurance and Investments, prepared for the Bank Administration Institute, 2000.
Proprietary Mutual Funds and the Fiduciary Investment Process:A Best Practice Guide, prepared for Federated Investors, Inc., 2000. Repricing of Bank Trust Services:The Reasonableness of Trustee Compensation in a Mutual Fund Environment, prepared for Federated Investors, 1996. Functional Regulation:A Concept for Glass-Steagall Reform? Stanford Journal of Law, Business & Finance, April 1996. The Authority of National Banks to Invest Trust Assets in Bank-Advised Mutual Funds, Boston Univ. Law School Annual Review of Banking Law, vol. 10, 1991 (with J. D. Hawke, Jr. and D. Freeman, Jr.). Findings of the Committee of Inquiry Examining the Events Surrounding October 19, 1987, (assisted Blue Ribbon Panel Member John D. Hawke, Jr.), Chicago Mercantile Exchange, Final Report, 1988. The Separation of Banking and Commerce in American Banking History, Appendix to Statement of Federal Reserve Board Chairman Paul A. Volcker, Structure and Regulation of Financial Firms and Holding Companies Part 1, Hearings Before a Subcommittee of the House Government Operations Committee, 99th Cong., 2d Sess. 393 (June 11, 1986). Facing the Future:Life Without Glass-Steagall,37 Catholic U. L. Rev. 281 (1988) (with FDIC Chairman William Isaac).