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Lecture

Hazelhoff Guest Lecture: Steven Schwarcz

  • Steven L. Schwarcz
Date
Wednesday 14 December 2016
Time
Explanation
You are kindly requested to register for this lecture via the link at the bottom of the page.

Too Big to Fool: Moral Hazard, Bailouts, and Corporate Responsibility

On Wednesday 14 December Steven L. Schwarcz, Stanley A. Star Professor of Law & Business at Duke University School of Law, will give the thirteenth Hazelhoff Guest Lecture. Professor Schwarcz will question the often-heard assumption that systemically important firms which are considered ‘too big to fail’ will engage in morally hazardous risk-taking. Moreover, he will propose certain measures to address excessive risk-taking in the financial sector.

The last few years there has been an increasing worldwide regulatory focus on financial institutions that are considered ‘too big to fail’. It is believed that these firms may engage in excessive risk-taking because they expect to be rescued with public funds in case of a failure. But is it really true that this ‘too big to fail problem’ causes morally hazardous behavior? Can and should excessive risk-taking behavior of financial institutions be addressed by other measures? In this Hazelhoff Guest Lecture, Steven Schwarcz will discuss these questions.

Steven L. Schwarcz

Steven L. Schwarcz

Steven L. Schwarcz is the Stanley A. Star Professor of Law & Business at Duke University and Founding Director of Duke’s interdisciplinary Global Financial Markets Center. Professor Schwarcz has testified before the U.S. Congress on topics including systemic risk, securitization, credit rating agencies, and financial regulation and has advised several U.S. and foreign governmental agencies on the financial crisis and shadow banking. His writings include Systemic Risk, 97 Georgetown Law Journal 193, the second most cited law review article of 2008.

He is also a Fellow of the American College of Bankruptcy, a Founding Member of the International Insolvency Institute, a Fellow of the American College of Commercial Finance Lawyers, Business Law Advisor to the American Bar Association Section on Business Law, and Senior Fellow of The Centre for International Governance Innovation (CIGI). Prior to joining the Duke faculty, he was a partner at two leading international law firms.

Hazelhoff Centre for Financial Law

The Hazelhoff Guest Lectures are organized by the Hazelhoff Centre for Financial Law. The Hazelhoff Centre for Financial Law provides academic education and performs research in the field of financial law.

Previous Hazelhoff Guest Lectures were given by Jan Kees de Jager, former Dutch Finance Minister, Rutger Schimmelpenninck and Ben Knüppe, liquidators in the bankruptcy of DSB Bank, Nout Wellink, former president of De Nederlandsche Bank (Dutch central bank), Rutsel Martha, former Justice Minister of the Dutch Antilles, Don Scott De Amicis, former Vice President and General Counsel of the Overseas Private Investment Corporation (OPIC), Joanne Kellermann, board member Single Resolution Board, and Wim Mijs, Chief Executive of the European Banking Federation (EBF).

Practical information

Date:           Wednesday 14 December 2016
Time:           15.30-17.00h with a reception afterwards
Location:    Lorentzzaal (A1.44) | Kamerlingh Onnes Gebouw (Leiden Law School)

This conference has been sponsored by the Leiden University Fund/Van Beuningen.

Please register for this lecture

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