Litigating the Financial Crisis

Article — Volume 100, Issue 7

100 Va. L. Rev. 1405
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The government’s response to the financial crisis was dramatic, enormous, and unprecedented, and nothing about it has been overseen by the courts. In our federal system, the courts are supposed to put the policies of presidents and congresses to the test of judicial review, to evaluate decisions by the executive to sanction individuals for wrongdoing, and to resolve disputes between private parties. But during and after the financial crisis, there has been almost none of that sort of judicial review of government; few sanctions, especially criminal ones, on the private sector for conduct during the crisis for the courts to scrutinize; and a private dispute process that, while increasingly active, has resulted in settlements, rather than trials or verdicts. This Article tells the story of the marginal role of courts in the financial crisis, evaluates the costs of that role, and provides suggestions to ensure a real, if not all-encompassing, judicial role during the next economic emergency. 

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  Volume 100 / Issue 7  

The New Local

By Nadav Shoked
100 Va. L. Rev. 1323

Litigating the Financial Crisis

By David Zaring
100 Va. L. Rev. 1405

Another Look at Professor Rodell’s Goodbye to Law Reviews

By Harry T. Edwards
100 Va. L. Rev. 1483

A Rule of Lenity for National Security Surveillance Law

By Orin S. Kerr
100 Va. L. Rev. 1513