Reynolds Holding is a Breakingviews editor who also writes from New York about the law. Before joining Breakingviews, he was a national editorial producer for the Law & Justice Unit at ABC News, a senior writer for Time magazine and the executive editor of Legal Affairs, the first general interest magazine about the law. He spent more than a decade as an investigative reporter and columnist for The San Francisco Chronicle, where he was named a Pulitzer Prize finalist for explanatory writing. Before becoming a journalist, he practiced corporate law at the New York firm of Debevoise & Plimpton. He graduated from Harvard College and Duke University School of Law.
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Whether fining foreign banks like BNP or barring U.S. firms from business with governments it wants to punish, Uncle Sam has huge global clout. Having big companies and banks is part of it, but issuing the world’s reserve currency – and clearing trades at home - may do more.
As firms led by Howard Marks and Paul Singer cry foul over the shifting of assets, the casino empire backed by Leon Black’s Apollo and David Bonderman’s TPG says creditors are just angling for a default. Weak loan provisions give Caesars the edge in the clash of financial titans.
The SEC is using its own administrative judges to hear more complaints, as the Dodd-Frank law allows. That may make lawsuits easier to win, but it weakens judicial oversight and suspects’ legal rights. Stronger cases, not friendlier jurists, would serve the regulator better.
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- Chinese firm schools Uncle Sam on rule of law
- Citi settlement imposes awfully pricey babysitter
- U.S. insider trading cops pick a bad time to lose
- Investors sent to boondocks should head for hills
- U.S. cooks up penalties with anti-foreign flavor
- Supreme Court gets message on smartphone privacy