Too big to fail,too powerful to jail? On the absence of criminal prosecutions after the 2008 financial meltdown

Various explanations have been offered regarding the causes of the current global economic crisis that was spawned by the collapse of mortgage-based securities in the U.S. that were sold world-wide and that contained "toxic assets" comprised of subprime loans. There is ample evidence that such loans were originated through fraud. Firms recorded huge profits, and executives were awarded large bonuses even though some had led their companies into bankruptcy and plunged both the U.S. and global economies into the greatest recession since the Great Depression. This paper assesses the reasons why there have been no major prosecutions to date, and compares the U.S. government's response to that in the savings and loan crisis. It analyzes the influence of large financial institutions on lawmaking, regulation, and the allocation of enforcement resources, the continued general lack of understanding of financial fraud including control fraud, and problems related to the higher status and power of potential defendants.     

South Africa's bilateral relationships in the evolving foreign policy of an emerging middle power

This article introduces the special issue on ‘South African Foreign Policy: identity, directions, and intentions’. Here we seek to summarize key insights from the contributions to this special issue to deepen understanding of South Africa’s evolving post-apartheid foreign policy through an exploration of the nature and trajectory of key bilateral relationships from both the global ‘South’ (Brazil, China, Iran, the AU) and ‘North’ (Japan and the UK). This window on the country’s international relations enriches understanding of the normative and structural factors that influence not only South African foreign policy, but those of what Edouard Jordaan calls emerging middle powers as they seek to position themselves as influential actors in international affairs. We sketch the contours of these key South African relationships in four areas where the tendencies and tensions of emerging middle power foreign policies are apparent: regionalism, multilateralism, reform of global governance, and approach to moral leadership.     

A simulation for exploring the effects of the "trait list" method's subjectivity on consistency and accuracy of ancestry estimations

The nonmetric "trait list" methodology is widely used for estimating ancestry of skeletal remains. However, the effects of the method's embedded subjectivity on subsequent accuracy and consistency are largely unknown. We develop a mathematical simulation to test whether variation in the application of the "trait list" method alters the ancestry estimation for a given case. Our simulation explores how variations in (i) trait selection, (ii) number of traits employed, and (iii) ancestry choice thresholds affect the ancestry estimation of an unidentified skeleton. Using two temporally and geographically diverse samples, the simulation demonstrates that trait selection, trait quantity, threshold choices, and the exclusion of high-frequency traits had minimal effect on estimation of general ancestry. For all data sets and Runs, Accuracy(AS) was maintained above 90%. The authors close with a discussion on the logistical issues present when choosing traits, and how to avoid ancestry bias.     

Bridging between Myanmar and international society – Japan's self-identity and kakehashi policy

Abstract

Numerous academic works have critiqued Japan's Official Development Assistance (ODA) programme for being mercantilist and failing to promote democratization and human rights (Orr 1990; Rix 1993; Arase 1995, 2005). Such accounts assess Japan's ODA policy from Western theoretical perspectives that advocate Western approaches, such as military and economic interventions to contain repressive states. While receptive to these criticisms, Japanese policy-makers have perceived their country's international role in ‘bridging’ (kakehashi) terms and structured their ODA accordingly, as this paper details in the case of Japan's ODA policy towards Myanmar. ¹ 1. Myanmar is used throughout this paper in place of Burma in line with the preference of the Japanese government. Burma is employed when referring to events prior to 1989. The rationale behind Japan's kakehashi approach lies in the construction of Japan's self-identity as a state able to reenter international society after World War II through focusing on economic development rather than military and coercive action. Proponents of the kakehashi approach construct Japan both as a model of successful democratization through development which other states can learn from, as well as the means through ODA to ‘bridge’ the divide between repressive regimes and liberal democratic capitalism. This critical approach examines Japan's kakehashi or bridging strategy in terms of Japan's response to the anti-government protests in September 2007, Cyclone Nargis in May 2008, and in the build up to parliamentary elections in November 2010 in Myanmar to demonstrate the permanence of this approach in spite of a change of government in Japan. In so doing, the kakehashi approach reveals opportunities to engage with, rather than contain, repressive regimes, thereby raising the possibility of enticing such states back into international society though economic incentives.     

The Arrow--Directional Semiotics: Wayfinding in Transit

Airport language is a spectacle, an interface for social relations between humans and machines. Signage intensifies social relations--reconfiguring territories of geophysical/architectural space into territories of recognition that speak to a productive power of language that is fundamentally non-representational. Airports are walked, the signs don't accompany or reflect upon the airport, they are machined into it. The traveller navigates through a highly textually mediated space where the signs not only enact semioticised territories but also directly intervene into the material machinic processes of travelling. As Guattari (1992: 49) might say, these point-signs 'don't simply secrete significations'. They activate the bringing into being of ontological universes. This paper focuses on 'signage' in a quite expanded yet also limited sense. It focuses on the increasing standardisation of the signifying semiologies of transit wayfinding systems which signal the primacy of pragmatic interactivity in the communicative event of walking the airport. If the controlling semiosis of non-places is, as Auge´ (1995) notes, the dominant space of supermodernity, then a thorough consideration of such signifying technologies would seem in order. This paper focuses on one of the most ubiquitous signs at the airport: the arrow. The airport's arrow is an asemic figure through which perhaps to read the semiotic technologies of the airport itself. The arrow is both a tool and a trope for the imperatives of global transit: it turns place into passage, striates space into controlled flows, and urges the traveller to 'move on'. It is a point sign that leads the way to a consideration of the technologies, both semiotic and a-semiotic, that provide the navigational and behavioural guidance that is increasingly in evidence, not only at the airport but in all public spaces.     

‘Royal supremacy restored?’ Scottish parliamentary independence in the Restoration era, 1660–88

SUMMARY

The constitutional settlement instituted by the Scottish Parliament in 1661–63 has traditionally been seen as a victory for the crown and a disaster for the parliamentary estates, since all of the hard-won constitutional gains introduced during the Covenanting era were largely swept away in favour of a complete reassertion of the king's prerogative powers. Nevertheless, despite the initial flourishing of royalist enthusiasm that marked the early Restoration period, in only a matter of years Scotland's political elites were once more engaged in battle with an authoritarian monarch and his increasingly dictatorial ministers of state. By as early as the mid-1660s, armed rebellion had erupted in the localities, religious non-conformity threatened to fragment the church, and rumbles of dissent within the parliamentary chamber itself were becoming more difficult to ignore. Can it be concluded, therefore, that it would prove impossible to imagine away the momentous events of the Covenanters' radical experiment in government, and that some of those constitutional and ideological principles survived into the Restoration era, effectively sowing the seeds of what would become the Revolution of 1689–90?     

The Reliability of the Greulich and Pyle Atlas When Applied to a Modern Scottish Population

This study examines the reliability of age estimation utilizing the Greulich and Pyle atlas in relation to a modern Scottish population. A total of 406 left‐hand/wrist radiographs (157 females and 249 males) were age‐assessed using the Greulich and Pyle atlas. Analysis showed that there was a strong correlation between chronological age and estimated age (females R² = 0.939, males R² = 0.940). When age groups were broken down into year cohorts, the atlas over‐aged females from birth until 13 years of age. The pattern for males showed that the atlas under‐estimated age until 13 years of age after which point it consistently over‐aged boys between 13 and 17 years of age. This study showed that the Greulich and Pyle atlas can be applied to a modern population but would recommend that any analysis takes into account the potential for over‐ and under‐aging shown in this study.     

Recovering Lost Years: British Foreign Policy After the War of the Polish Succession

A study of a neglected period in British foreign policy serves to question schematic approaches to the history of international relations and to underline the indeterminacy felt by contemporaries, and their sense of the roles of contingency and personality. The problems faced then in conceptualizing international relations can be mirrored today.     

Win–Win? Early experience from local area agreements

Local Area Agreements (LAAs) are a mechanism for delivering improved outcomes for local people, through recasting governance relationships between central government and localities and between local agencies. This paper assesses the effectiveness of LAAs in reforming these critical relationships, drawing on research carried out in 2004–06 into the round one and two negotiations. These early negotiations highlighted the complexity of ‘central–local relations’; a coherent approach across Whitehall was hampered by differences in departmental culture and in the nature of relationships with local delivery agencies, while the new role for Government Offices was ambiguous. Nevertheless the early LAAs represented a major step forward in terms of local–central relations. Within localities, the process of developing LAAs proved challenging and highlighted governance weaknesses; however in the main participants report that partnerships have been greatly strengthened as a result. These early experiences provided rich learning, and policy has developed significantly since the pilots. At the time this research ended there was not yet any conclusive evidence on the balance of costs and benefits. However, over time LAAs have the potential to bring about a transformation in governance relationships and, in turn, the delivery of services to address cross-cutting outcomes.     

Cohabitants, Property and the Law: A Study of Injustice

With cohabitation outside marriage becoming increasingly common, the law's response to the problems that arise on separation has become a key issue for public and family policy. This article draws upon the findings of a qualitative empirical study of how property disputes are handled when cohabitants separate. It argues that the unfairness of the current law is best understood as stemming from a failure to recognise the situation that arises as one of unjust enrichment. It shows that the complexity and unpredictability of the law make it difficult to bargain effectively in the shadow of the law. It suggests that the need for reform goes beyond the introduction of a discretionary regime, such as that proposed by the Law Commission, to reform of conveyancing and property law and practice to facilitate initial, as well as post-separation private ordering.