My new casebook is the bestseller in corporate law on Amazon -->

I published a new business organizations casebook.

There is no need to be maximalist anti-tariff, which can be a useful tool to allow infant industries to thrive. That's especially true when praising an industrial policy that used tariffs!

"We spent the last 30 years coming to a new understanding as a country about what we need to do. And sometimes that means tariffs." -- Buttigieg

me this morning www.nytimes.com/2025/04/09/o...

What @jomichell.bsky.social says.

Time really is a circle. Leveraged hedge funds make billions; bets blow up; dash for cash; the Fed steps in; repeat. Here's what I wrote four years ago about central banks as guarantors of this unjust and inefficient (some might say: stupid) system. benjaminbraun.org/assets/pubs/...

You may see care for the intellectually and developmentally disabled as a moral imperative. Private equity has been consolidating the field for the last decade because, well, because of money. Dan Boguslaw reports on a new study of PE's lucrative rollup, and the consequences:

. @matt-levine.bsky.social unwittingly making the case for rate regulation in banking.

Interesting

[email protected] on Eurodollars. The most fundamental question in all of finance is -- and for hundreds of years has been -- "who gets to issue money [dollars in this case] and subject to what constraints."

I haven't listened to part 3 yet but you absolutely cannot miss parts 1 and 2 of this podcast. Incredible stuff. podcasts.apple.com/us/podcast/t...

Just arrived, excited to read this. @mkonings.bsky.social

My grandfather's 100th birthday!

Musk's apparent flouting of Exchange Act § 13(d) in 2022 without any legal repercussions tells you a lot about elite impunity in America. (clip from recent @matt-levine.bsky.social newsletter)

Konings's introductory essay here is deep and has given me a lot to think about. I highly recommend it to anyone interested in finance and economic policy. Parts of it relate to what Lev Menand and I have called "the monetary-financial complex."

If we're going to be overhauling bank regulatory structure then may I humbly suggest:

It's amazing that the mainstream retail payment system is controlled by a duopoly, basically free from meaningful economic regulation. It would be nice to see some leadership from the Fed in this area. t.co/2qGESBLwBy

I'm looking for readings re: whether changes in US equity market structure from ~1997 to 2005 (order handling rules, regulation ATS, regulation NMS, etc.) contributed to the near-demise of the IPO market -- would be very grateful for any suggestions.

Great event here last month with Jonathan Kanter.

The case for imposing rate regulation on credit card networks / swipe fees is very strong.

Actually it began in earnest in the Carter Administration, for what it's worth.

Frequent flyer programs have changed — and people are rightly wondering if they are a good deal - but this piece doesn’t spend much time on the lack of transparency and unfair practices that are also in these programs. www.nytimes.com/2024/11/28/b...

There's an important question about whether the combination of limited liability and concentrated ownership / high-powered incentives is good for society. It puts a lot of pressure on the guardrails. See e.g. the studies on effects of private equity ownership of nursing homes and hospitals.

Onto something: www.nytimes.com/2024/11/28/o...

good piece on how all the big platforms are suppressing hyperlinks, of course because they want to keep people corralled for maximum profit www.washingtonpost.com/politics/202...

* EXCLUSIVE -- WELLS FARGO ASSET CAP LIKELY TO BE LIFTED NEXT YEAR, SOURCES SAY @reuters $WFC

Must read —>

Good piece on the inflation risks inherent in Trump's agenda. Keep an eye on TIPs breakevens. www.bloomberg.com/news/feature...

Deleting twitter felt fine in the end but it’s hard to overstate how much it mattered in allowing me to make a career. It feels so silly to say.

Hey @morganricks1.bsky.social, students in my "American Money" seminar read the opening chapters of TMP this week. It hits home, thanks.

Been away from here for a while but think I will try reengaging.

up now on our @theprospect.bsky.social telethon, Ganesh Sitaraman on why flying is horrible now www.youtube.com/watch?v=iNjq...

🚨 Current scholarship! "Rebuilding Banking Law: Banks as Public Utilities" by Lev Menand and @morganricks1.bsky.social Check out the article, policy brief, and op-ed! 👇

Event announcement ! Paper Talk: "Counterfeit Empire: Speculative Currency and the 1825 Haitian Indemnity" by Arielle Alterwaite Thursday, November 2, 2023, at 12.00 pm to 1.30 pm EST justmoney.org/haitian-inde...

As I never tire of saying,* banking law can't cohere, and financial stability policy can't succeed, without a functional definition of "deposit." Congress should enact one. * ok, sometimes I tire. From @matt_levine today:

A stat I will tell anyone who will listen: the number of people who are uninsured but *eligible for Medicaid* (7.4M in 2021) is more than three times as large as the number of people in the failure-to-expand Medicaid gap (1.9M in 2021) That's administrative burdens, not lack of affordability

I'm about to start writing the financial market infrastructure chapter for the second edition of Networks, Platforms, and Utilities: Law & Policy and today @matt-levine.bsky.social delivers some timely content:

Thought-provoking piece: www.nytimes.com/2023/10/26/o...

I just put up a new, rather long, blog post, thinking about the larger significance of recent debates over "greedflation," and some historical precedents for them. jwmason.org/slackwire/in... [Posted wrong link before.]

A list of financial data sources, curated for political economy use cases. Official statistics as well as datasets compiled by organizations and academic researchers. Originally assembled for my students, now available on my website. Suggestions welcome! benjaminbraun.org/teaching/dat...