Morgan Ricks

Jul 15, 2024 | yalejreg.com | Lev Menand |Morgan Ricks

Under the New Deal framework for money and payments—which had its roots in the National Bank Act of 1864—banks in the United States were governed in many respects as public utilities. Charters were available only where they were consistent with public convenience and need, the usual standard for utilities. Banks enjoyed an exclusive privilege to augment the money supply, maintaining deposit account balances that house-holds and businesses could use as a means of payment and store of value.

Jun 13, 2024 | rooseveltinstitute.org | Lev Menand |Emily DiVito |Morgan Ricks |John Crawford

IntroductionIn March and April 2023, the American system of money and banking teetered on the brink of collapse. Several large banks failed—including Silicon Valley Bank (SVB), Signature Bank, and First Republic Bank—but the real story was the extent of the ad hoc government interventions required to prevent a wider unraveling.

Jun 5, 2024 | rooseveltinstitute.org | Emily DiVito |Todd Phillips |Morgan Ricks |John Crawford

IntroductionThe financial costs of banking lock out millions of Americans from full economic participation. Nearly 5 percent of households in the United States—disproportionately Black, brown, and/or low-income—have no bank account at all, and another 14 percent must still rely on costly, nonbank alternatives at least some of the time.

Feb 26, 2024 | lpeproject.org | Morgan Ricks |Ganesh Sitaraman

This morning, the Supreme Court will hear arguments in the most anticipated cases of the year for the future of regulating tech platforms, NetChoice, LLC v. Paxton and Moody v. NetChoice, LLC. At the core of these two cases is whether Florida and Texas can regulate social media platforms, including by setting rules for content moderation and exclusion of users. Much of the debate about the case focuses on the First Amendment and whether the platforms are best analogized to publishers.

Sep 14, 2023 | washingtonpost.com | Lev Menand |Morgan Ricks

Lev Menand is a professor at Columbia Law School, a fellow at the Roosevelt Institute and the author of “The Fed Unbound: Central Banking in a Time of Crisis.” Morgan Ricks is a professor at Vanderbilt Law School and the author of “The Money Problem: Rethinking Financial Regulation.” It has been 15 years since Lehman Brothers collapsed and financial panic turned a mild recession into a great one, yet the American financial system still depends on government rescues to avoid catastrophic...