The bankruptcy of Lehman Brothers was the pivotal event of the 2008 financial crisis. Ever since the bankruptcy, there's been heated debate about why the Federal Reserve did not rescue Lehman in the same way it rescued other financial institutions. The Fed's leaders strongly asserted that they lacked the legal authority to save Lehman because it did not have adequate collateral for the loan it needed to survive. In his new book, "The Fed and Lehman Brothers", Laurence Ball argues that the official narrative of the crisis is wrong; the Fed could have rescued Lehman but chose not to because of political pressures and an underestimation of the damage the bankruptcy would do to the economy. In this video, Mr. Ball, a professor of economics at Johns Hopkins, discusses insights from his book. Sponsored by the Global Financial Markets Center.
Welcoming the LLM Class of 2020
Ninety-six accomplished attorneys from 39 countries began their LLM studies on Aug. 19
The annual celebration of the Law School’s international students and scholars will be held Sept. 23 – 27.
New Duke Law center will delve into science of criminal justice
The Center for Science and Justice, led by Professor Brandon Garrett, will apply legal and scientific research to reforming the criminal justice system.