Introduction to the Global Meltdown: Examining the Worst Global Financial and Economic Crisis Since the Great Depression Symposium, Issue 19:1

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In February 2009, Transnational Law and Contemporary Problems

("TLCP") hosted a symposium entitled Global Meltdown: Examining the Worst Global Financial and Economic Crisis Since the Great Depression. This first issue of Volume 19 of TLCP continues our exploration of the topic. The Editorial Board of TLCP is pleased to present pieces that analyze the ongoing financial crisis and efforts within the international legal arena to provide solutions.

Our issue leads off with Larry Cata Backer's Article, Sovereign Investing in Times of Crisis: Global Regulation of Sovereign Wealth Funds, State-Owned Enterprises, and the Chinese Experience, which analyzes the effect of Sovereign Wealth Funds on the economic downturn that started in 2007. Professor Backer first explains the rise of the Sovereign Wealth Fund as a state-run investment instrument. The Article then explains the pivotal role that Sovereign Wealth Funds played in the stabilization of the world economy after the 2007 economic turmoil. This Article then discusses the regulatory schemes and initiatives being developed to govern Sovereign Wealth Funds. The Article concludes with an examination of the Chinese Sovereign Wealth Fund and its importance to the world economy.

In Aldo Caliari's Article, Assessing Global Regulatory Impacts of the U.S. Subprime Mortgage Meltdown: International Banking Supervision and the Regulation of Credit Rating Agencies, Director Caliari explains the causes of the U.S. subprime mortgage market crisis and how the 2007 economic downturn triggered a debate on possible movement toward greater global regulation. This Article then discusses the regulatory environment developing around international banking supervision and the role of credit rating agencies. Caliari also surveys a number different regulatory approaches being adapted by...