While You Wait


As somebody who has dabled in empirical legal studies, and recently noted the tendency among academics and policymakers to ignore inconvient data, I'm quite eager to see how the models hold up. After all, one guy might have to eat bugs if this goes poorly.

But in the interim, over at Dealbook I give you a summary of my latest paper (co-written with Rajesh P. Narayanan of Louisiana State University) on CDS and restructuring. In short, we argue that something like the Williams Act should apply in workouts to require disclosure of CDS positions.

Its forthcoming in the Journal of Applied Corporate Finance, and available in draft here.