Copyright (c) 2009 All rights reserved. http://works.bepress.com/steven_schwarcz Recent documents in Steven L Schwarcz en-us Thu, 26 Feb 2009 13:59:12 PST 3600 http://works.bepress.com/steven_schwarcz/12 http://works.bepress.com/steven_schwarcz/12 Thu, 26 Feb 2009 13:59:07 PST This article examines how the complexities of modern financial markets and investment securities can trigger market failure. The article also analyzes what steps, including possible regulation, should be taken to reduce the potential for failure. Because market complexities and failures are characteristic of complexities and failures in engineering systems with nonlinear feedback, the article employs a law and engineering analysis, drawing on the literature analyzing those systems. Steven L. Schwarcz Banking and Finance Bankruptcy Law Corporations Organizations Securities Law