Category: School of Law

GAO Study Expected to Say Big Banks’ Subsidy Has Shrunk (For Now)

July 22nd, 2014 in 2014, American Banker, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, School of Law 0 comments

hurley11-150x150American Banker (subscription required)
Cornelius Hurley, School of Law, Center for Finance, Law & Policy

A government report detailing the funding advantage the biggest banks receive is likely to be unveiled on July 31, according to sources familiar with the matter…

Expert quote:

“This notion that the subsidy is lower now than it was during the crisis — that’s hardly news. Of course it’s lower. In the crisis, they were giving out money … but we’re still in an environment of near-zero interest rates, so a lot of banks can raise money very cheaply. Naturally the differential would be smaller today.”

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Down the EU’s Right-to-Be-Forgotten Rabbit Hole

July 17th, 2014 in 2014, Keith Hylton, Newsmakers, School of Law 0 comments

khyltonTechNewsWorld
Keith Hylton, School of Law

Telecom regulators from each European Union member state, together with the Article 29 Working Party — a group comprised of a data protection authority representative from each state, the European Data Protection Supervisor, and the European Commission — have invited search engines to a meeting next week, according to a Thursday report in The Wall Street Journal

Expert quote:

“The key concern for search engines handling link removals is the sheer volume of requests. The volume may become unmanageable for the major search engines.”

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Millions of Obamacare enrollees could pay billions more

July 17th, 2014 in 2014, Abigail Moncrieff, CNBC.com, Newsmakers, School of Law 0 comments

Abigail-Moncrieff-300x300CNBC.com
Abigail Moncrieff, School of Law

The Affordable Care Act could get a whole lot less “affordable” for almost 5 million people if the Obama Administration loses this court fight. Nearly 90 percent of people who bought insurance plans on HealthCare.gov receive subsidies and will face an average increase in their premiums of a whopping 76 percent if court challenges to a key component of the health-care law are successful, according to a new analysis released Thursday…

Expert quote:

“Unfortunately for Obamacare, the IRS rule at issue in Halbig, which makes health insurance subsidies available in all states regardless of whether the states set up their own exchanges, deals with a portion of Obamacare that is idiotically drafted and incredibly confusing, and conservative judges therefore have an opportunity to strike down the IRS rule, thereby depriving individuals of subsidies and eliminating the employer and individual mandates in states that refused to set up their own exchanges.”

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Will Yelp Derail Google’s Antitrust Deal With EU? Legal Experts Weigh In

July 10th, 2014 in 2014, International Business Times, Keith Hylton, Newsmakers, School of Law 0 comments

khyltonInternational Business Times
Keith Hylton, School of Law

An antitrust complaint filed by online review service Yelp Inc. (NYSE:YELP) could sideline a pending settlement between Google Inc. (NASDAQ:GOOGL) and European Union regulators worried that the big U.S. search engine gives itself preferential treatment in search results. It could also force Google to respond to competitors’ complaints in court…

Expert quote:

“I’m not surprised that the complainants are still going at this issue. The deal that Google arraigned seemed to be an unusually, surprisingly nice deal for Google.”

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Why We Need to Restructure the Big Bank Holding Companies

July 10th, 2014 in 2014, American Banker, Newsmakers, OP-EDs by BU Professors, School of Law, Tamar Frankel 0 comments

TAMAR FRANKELAmerican Banker (subscription required)
By Tamar Frankel, School of Law

Many contributors helped bring about the most recent financial crisis, bank holding companies among them. The problems with bank holding companies stem less from lax rules or weak enforcement than from the way they are structured…

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Interview with Professor Kevin Outterson on the FDA’s guidance on off-label promotion and the move toward clinical trial transparency

July 8th, 2014 in 2014, Kevin Outterson, New England Journal of Medicine, Newsmakers, School of Law 0 comments

Kevin-Outterson-260x300New England Journal of Medicine
Kevin Outterson, School of Law

Listen to audio of expert Kevin Outterson

First QIDP drug approved, but designation may fail urgent needs

July 7th, 2014 in 2014, Kevin Outterson, Nature, Newsmakers, School of Law 0 comments

Kevin-Outterson-260x300Nature
Kevin Outterson, School of Law

The problem of ineffective antibiotics is no longer just theoretical. These days, nearly 50,000 people in the US and Europe die each year as a result of antibimicrobial-resistant infections. To reduce this grim toll, in 2012 the US Food and Drug Administration (FDA) began offering the qualified infectious disease product (QIDP) designation, which allows for expedited review and five extra years of market exclusivity for antimicrobials designed to treat serious and life-threatening infections…

Expert quote:

“QIDP probably had very little to do with the ten-year history of the antibiotics in development right now. A decade from now, we will have 15–20 products,” he says, “and few will be what we were hoping for.”

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Big banks’ living wills detail how to avoid bailouts

July 7th, 2014 in 2014, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, School of Law 0 comments

hurley11-150x150The Deal Pipeline
Cornelius Hurley, School of Law, Center for Finance, Law & Policy

Critics of too-big-to-fail banks should relax — the largest financial institutions won’t cost taxpayers any money if they fail. At least that’s what the biggest 17 financial institutions are telling federal regulators in the publicly available portions of their most recent set of living wills, which were released late Wednesday…

Expert quote:

“The whole exercise is somewhat absurd. If this is an exercise to restore trust, it hardly does that. If they [regulators] really wanted to restore confidence they would make the whole plan public, not just the pandering stuff they have submitted.”

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Clinical Trial Transparency — Antidote to Weaker Off-Label-Promotion Rules?

July 7th, 2014 in 2014, Kevin Outterson, New England Journal of Medicine, Newsmakers, OP-EDs by BU Professors, School of Law 0 comments

Kevin-Outterson-260x300New England Journal of Medicine
By Kevin Outterson, School of Law

This year promises to be an auspicious period for some long-running battles over the dissemination of biomedical research. Some companies seeking more freedom to promote their products have bristled at recent guidance documents from the Food and Drug Administration (FDA) regarding promotion of drugs and devices for off-label uses, claiming that they violate the First Amendment…

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Why the ‘Too Big to Fail’ Fight May Get a Revival

July 7th, 2014 in 2014, American Banker, Centers & Institutes in the News, Cornelius Hurley, Newsmakers, School of Law 0 comments

hurley11-150x150American Banker (subscription required)
Cornelius Hurley, School of Law, Center for Finance, Law & Policy

The legislative battle over reining in big banks’ implicit guarantee is suddenly poised for a comeback. The issue is expected to reemerge as the Government Accountability Office is said to be finalizing a report on whether big banks get a subsidy based on their size, and vocal critics of “too big to fail” — including Sen. Sherrod Brown, D-Ohio — stand to hold key leadership slots in next year’s Congress…

Expert quote:

“Jeb Hensarling could step into the shoes of David Vitter. Hensarling is the darling of the Tea Party, and the Tea Party is supposedly against big government and out-of-control corporations. It wouldn’t be an alliance that would require Hensarling to deviate from his philosphy at all.”

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