Profs. Hill and Painter Publish Op-Ed in New York Times Online "Dealbook" Section

Professors Claire Hill and Richard Painter published an op-ed entitled "Why S.E.C. Settlements Should Hold Senior Executives Liable" in The New York Times' online edition of the "Dealbook" page. In the article, Hill and Painter urge that senior officers of investment banks and other financial institutions be personally liable for a significant portion of SEC fines levied against their institutions. The op-ed follows the House Financial Services Committee's May 17 hearing about SEC settlements, where Painter was a witness. Hill and Painter are also working on a forthcoming book that will discuss this and other proposals for restoring personal responsibility to investment banking.