Selling Hope, Selling Risk: Corporations, Wall Street, and the Dilemmas of Investor Protection by Donald C. LangevoortSelling Hope, Selling Risk: Corporations, Wall Street, and the Dilemmas of Investor Protection by Donald C. Langevoort

Selling Hope, Selling Risk: Corporations, Wall Street, and the Dilemmas of Investor Protection

byDonald C. Langevoort

Hardcover | June 22, 2016

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In the midst of globalization, technological change, and economic anxiety, we have deep doubts about how well the task of investor protection is being performed. In the U.S., the focus is on the Securities and Exchange Commission. Part of the explanation is economic and political: the failureto know the right balance between investor protection and capital formation, and the resulting battle among interest groups over their preferred solutions. In Selling Hope, Selling Risk, author Donald C. Langevoort argues that regulation is also frustrated at nearly every turn by human nature, as exhibited both on the buy-side (investors) and sell-side (corporate executives, bankers, stockbrokers). There is plenty of savvy and guile, but also amplehope, fear, ego, overconfidence, social contagion and the like that persistently filter and distort the messages regulators try to send. This book is the first sustained effort to link the key initiatives of securities regulation with our burgeoning awareness in the social sciences of how people andorganizations really behave in economic settings. It examines why corporate fraud occurs and how best to deter it and compensate its victims; the search for an edge via insider trading; the disclosure apparatus and its gatekeepers; sales efforts and manipulation in Ponzi schemes, internet scams,private offerings and crowdfunding; and how this all helps explain the recent global financial crisis. It ends by turning these insights back on the task of regulation itself, and the strategies (and frustrations) of making regulation work in a financial world that is at once increasingly sophisticated yet deeply human and incurably flawed.
Donald C. Langevoort is the Thomas Aquinas Reynolds Professor of Law at Georgetown University. He was formerly a staff member of the U.S. Securities and Exchange Commission, and has also taught at Vanderbilt University and as a visiting professor at Harvard and the University of Michigan. He is the author of numerous books and articles...
Title:Selling Hope, Selling Risk: Corporations, Wall Street, and the Dilemmas of Investor ProtectionFormat:HardcoverDimensions:224 pages, 9.25 × 6.12 × 0.98 inPublished:June 22, 2016Publisher:Oxford University PressLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:0190225661

ISBN - 13:9780190225667

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"Professor Langevoort's accessible and important book provides stunning insights into why the regulation of financial markets failed so conspicuously in the recent crisis and what can be done to prevent the disaster from happening again. The book vividly demonstrates the many ways in whichbehavioral theory can inform and improve our understanding of financial markets and institutions and our assessment of proposed reforms." --Geoffrey Parsons Miller, Stuyvesant Comfort Professor of Law, NYU Law School