Document Type
Article
Publication Date
5-23-2014
Abstract
Cross-border bank resolution efforts focus on burden-sharing between bank owners, private creditors and the public. There is little talk of burden-sharing among governments, despite the rich history of governments trying to stick one another with the cost of financial conglomerate failures. There is an unspoken fear that acknowledging the need to allocate losses among governments would undermine post-crisis pledges of No More Bailouts. This symposium essay argues for making government stakes in private financial firms more transparent, and for using the contingent public share as a key to loss allocation among governments in cross-border banking crises.
Publication Citation
49 Tex. Int'l L.J. 355-383 (2014)
Scholarly Commons Citation
Gelpern, Anna, "Common Capital: A Thought Experiment in Cross-Border Resolution" (2014). Georgetown Law Faculty Publications and Other Works. 1465.
https://scholarship.law.georgetown.edu/facpub/1465
Included in
Banking and Finance Law Commons, Comparative and Foreign Law Commons, Contracts Commons, International Law Commons, Law and Economics Commons, Securities Law Commons