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Senior Lecturer in Law, University of Chicago Law School
Following his graduation from Harvard Law School, Judge Posner clerked for Justice William J. Brennan, Jr. From 1963 to 1965, he was assistant to Commissioner Philip Elman of the Federal Trade Commission. For the next two years, he was assistant to the solicitor general of the United States. Prior to going to Stanford Law School in 1968 as Associate Professor, Judge Posner served as general counsel of the President's Task Force on Communications Policy. He first came to the University of Chicago Law School in 1969, and was Lee and Brena Freeman Professor of Law prior to his appointment in 1981 as a judge of the US Court of Appeals for the Seventh Circuit. He was the chief judge of the court from 1993 to 2000.
Judge Posner has written a number of books, including Economic Analysis of Law (9th ed., 2014); The Economics of Justice (1981); Law and Literature (3rd ed. 2009); The Problems of Jurisprudence (1990); Cardozo: A Study in Reputation (1990); The Essential Holmes (1992); Sex and Reason (1992); Overcoming Law (1995); The Federal Courts: Challenge and Reform (1996); Law and Legal Theory in England and America (1996); The Problematics of Moral and Legal Theory (1999); Antitrust Law (2d ed. 2001); Law, Pragmatism, and Democracy (2003); Catastrophe: Risk and Response (2004); Preventing Surprise Attacks: Intelligence Reform in the Wake of 9/11 (2005); How Judges Think (2008); A Failure of Capitalism: The Crisis of '08 and the Descent into Depression (2009); The Crisis of Capitalist Democracy (2010); The Behavior of Federal Judges: A Theoretical and Empirical Study of Rational Choice (coauthored with Lee Epstein and William M. Landes) (2013); and Reflections on Judging (2013). He also wrote books on the Clinton impeachment and Bush v. Gore, many articles in legal and economic journals, and book reviews in the popular press.
He has taught administrative law, antitrust, economic analysis of law, history of legal thought, conflict of laws, regulated industries, law and literature, the legislative process, family law, primitive law, torts, civil procedure, evidence, health law and economics, law and science, and jurisprudence. He was the founding editor of the Journal of Legal Studies and (with Orley Ashenfelter) the American Law and Economics Review. He is an Honorary Bencher of the Inner Temple and a corresponding fellow of the British Academy, and he was the President of the American Law and Economics Association from 1995 to 1996 and the honorary President of the Bentham Club of University College, London, for 1998. He has received honorary degrees from leading American and foreign universities, along with a number of awards, including the Thomas Jefferson Memorial Foundation Award in Law from the University of Virginia in 1994, the Marshall-Wythe Medallion from the College of William and Mary in 1998, the 2003 Research Award from the Fellows of the American Bar Foundation, the 2003 John Sherman Award from the US Department of Justice, the Learned Hand Medal for Excellence in Federal Jurisprudence from the Federal bar Council in 2005, the Thomas C. Schelling Award from the John F. Kennedy School of Government at Harvard University in 2005, and the Ronald H. Coase Medal from the American Law and Economics Association in 2010.
Senior Fellow, Arthur F. Burns Fellow in Financial Policy Studies, American Enterprise Institute
Peter J. Wallison holds the Arthur F. Burns Chair in Financial Policy Studies and is co-director of AEI’s program on Financial Policy Studies. Prior to joining AEI, he practiced banking, corporate and financial law at Gibson, Dunn & Crutcher in Washington, D.C., and New York. Mr. Wallison has held a number of government positions. From June 1981 to January 1985, he was General Counsel of the United States Treasury Department, where he had a significant role in the development of the Reagan Administration's proposals for deregulation in the financial services industry. During 1986 and 1987, Mr. Wallison was White House counsel to President Ronald Reagan, and between 1972 and 1976, he served first as Special Assistant to New York's Gov. Nelson A. Rockefeller and, subsequently, as counsel to Mr. Rockefeller as vice president of the United States.
Mr. Wallison was admitted to practice before the courts of New York and the District of Columbia, and is retired from practice in New York. He continues to be a member of the District of Columbia Bar Association. He received his undergraduate degree from Harvard College in 1963 and law degree from Harvard Law School in 1966.
Mr. Wallison is the author of Ronald Reagan: The Power of Conviction and the Success of His Presidency, published in December 2002 by Westview Press. On campaign finance, he is the author (with Joel Gora) of Better Parties, Better Government, (AEI Press 2009). On financial or regulatory matters, he is the author of Back From the Brink, a proposal for a private deposit insurance system, and co-author of Nationalizing Mortgage Risk: The Growth of Fannie Mae and Freddie Mac; The GAAP Gap: Corporate Disclosure in the Internet Age; Competitive Equity: A Better Way to Organize Mutual Funds; Bad History, Worse Policy: How a False Narrative about the Financial Crisis Led to the Dodd-Frank Act (AEI Press 2013); and Hidden In Plain Sight: What Caused the World’s Worst Financial Crisis and Why it Could Happen Again (Encounter Books 2015). His most recent book is Judicial Fortitude: The Last Chance to Rein in the Administrative State, published by Encounter Books in October 2018.
He testifies frequently before committees of Congress, and is a frequent contributor to the op-ed pages of the Wall Street Journal and other print and online journals. He has also been a speaker at many conferences on financial services, housing, the causes of the financial crisis, the Dodd-Frank Act, accounting, and corporate governance, and was a member of the Shadow Financial Regulatory Committee between 1995 and 2015. He was a member of the SEC Advisory Committee on Improvements to Financial Reporting (2008), co-Chair of the Pew Financial Reform Task Force (2009), and a member of the congressionally- appointed Financial Crisis Inquiry Commission (2009-2011). In May 2011, for his work in financial policy, Mr. Wallison received an honorary doctorate in Humane Letters from the University of Colorado.
FOX Business Network Stocks Editor
Senior Lecturer in Law, University of Chicago Law School
Following his graduation from Harvard Law School, Judge Posner clerked for Justice William J. Brennan, Jr. From 1963 to 1965, he was assistant to Commissioner Philip Elman of the Federal Trade Commission. For the next two years, he was assistant to the solicitor general of the United States. Prior to going to Stanford Law School in 1968 as Associate Professor, Judge Posner served as general counsel of the President's Task Force on Communications Policy. He first came to the University of Chicago Law School in 1969, and was Lee and Brena Freeman Professor of Law prior to his appointment in 1981 as a judge of the US Court of Appeals for the Seventh Circuit. He was the chief judge of the court from 1993 to 2000.
Judge Posner has written a number of books, including Economic Analysis of Law (9th ed., 2014); The Economics of Justice (1981); Law and Literature (3rd ed. 2009); The Problems of Jurisprudence (1990); Cardozo: A Study in Reputation (1990); The Essential Holmes (1992); Sex and Reason (1992); Overcoming Law (1995); The Federal Courts: Challenge and Reform (1996); Law and Legal Theory in England and America (1996); The Problematics of Moral and Legal Theory (1999); Antitrust Law (2d ed. 2001); Law, Pragmatism, and Democracy (2003); Catastrophe: Risk and Response (2004); Preventing Surprise Attacks: Intelligence Reform in the Wake of 9/11 (2005); How Judges Think (2008); A Failure of Capitalism: The Crisis of '08 and the Descent into Depression (2009); The Crisis of Capitalist Democracy (2010); The Behavior of Federal Judges: A Theoretical and Empirical Study of Rational Choice (coauthored with Lee Epstein and William M. Landes) (2013); and Reflections on Judging (2013). He also wrote books on the Clinton impeachment and Bush v. Gore, many articles in legal and economic journals, and book reviews in the popular press.
He has taught administrative law, antitrust, economic analysis of law, history of legal thought, conflict of laws, regulated industries, law and literature, the legislative process, family law, primitive law, torts, civil procedure, evidence, health law and economics, law and science, and jurisprudence. He was the founding editor of the Journal of Legal Studies and (with Orley Ashenfelter) the American Law and Economics Review. He is an Honorary Bencher of the Inner Temple and a corresponding fellow of the British Academy, and he was the President of the American Law and Economics Association from 1995 to 1996 and the honorary President of the Bentham Club of University College, London, for 1998. He has received honorary degrees from leading American and foreign universities, along with a number of awards, including the Thomas Jefferson Memorial Foundation Award in Law from the University of Virginia in 1994, the Marshall-Wythe Medallion from the College of William and Mary in 1998, the 2003 Research Award from the Fellows of the American Bar Foundation, the 2003 John Sherman Award from the US Department of Justice, the Learned Hand Medal for Excellence in Federal Jurisprudence from the Federal bar Council in 2005, the Thomas C. Schelling Award from the John F. Kennedy School of Government at Harvard University in 2005, and the Ronald H. Coase Medal from the American Law and Economics Association in 2010.
Senior Fellow, Arthur F. Burns Fellow in Financial Policy Studies, American Enterprise Institute
Peter J. Wallison holds the Arthur F. Burns Chair in Financial Policy Studies and is co-director of AEI’s program on Financial Policy Studies. Prior to joining AEI, he practiced banking, corporate and financial law at Gibson, Dunn & Crutcher in Washington, D.C., and New York. Mr. Wallison has held a number of government positions. From June 1981 to January 1985, he was General Counsel of the United States Treasury Department, where he had a significant role in the development of the Reagan Administration's proposals for deregulation in the financial services industry. During 1986 and 1987, Mr. Wallison was White House counsel to President Ronald Reagan, and between 1972 and 1976, he served first as Special Assistant to New York's Gov. Nelson A. Rockefeller and, subsequently, as counsel to Mr. Rockefeller as vice president of the United States.
Mr. Wallison was admitted to practice before the courts of New York and the District of Columbia, and is retired from practice in New York. He continues to be a member of the District of Columbia Bar Association. He received his undergraduate degree from Harvard College in 1963 and law degree from Harvard Law School in 1966.
Mr. Wallison is the author of Ronald Reagan: The Power of Conviction and the Success of His Presidency, published in December 2002 by Westview Press. On campaign finance, he is the author (with Joel Gora) of Better Parties, Better Government, (AEI Press 2009). On financial or regulatory matters, he is the author of Back From the Brink, a proposal for a private deposit insurance system, and co-author of Nationalizing Mortgage Risk: The Growth of Fannie Mae and Freddie Mac; The GAAP Gap: Corporate Disclosure in the Internet Age; Competitive Equity: A Better Way to Organize Mutual Funds; Bad History, Worse Policy: How a False Narrative about the Financial Crisis Led to the Dodd-Frank Act (AEI Press 2013); and Hidden In Plain Sight: What Caused the World’s Worst Financial Crisis and Why it Could Happen Again (Encounter Books 2015). His most recent book is Judicial Fortitude: The Last Chance to Rein in the Administrative State, published by Encounter Books in October 2018.
He testifies frequently before committees of Congress, and is a frequent contributor to the op-ed pages of the Wall Street Journal and other print and online journals. He has also been a speaker at many conferences on financial services, housing, the causes of the financial crisis, the Dodd-Frank Act, accounting, and corporate governance, and was a member of the Shadow Financial Regulatory Committee between 1995 and 2015. He was a member of the SEC Advisory Committee on Improvements to Financial Reporting (2008), co-Chair of the Pew Financial Reform Task Force (2009), and a member of the congressionally- appointed Financial Crisis Inquiry Commission (2009-2011). In May 2011, for his work in financial policy, Mr. Wallison received an honorary doctorate in Humane Letters from the University of Colorado.
The Financial Crisis: Failure of Capitalism or Failure of Government Policy?
Liz MacDonald, Richard Posner, Peter J. Wallison
The New York City Lawyers Chapter held this event on April 27, 2009. Please note that...
The Financial Crisis: Failure of Capitalism or Failure of Government Policy?
New York City Lawyers Chapter
New York, NY