Clarke Program on the Law and Regulation of Financial Institutions and Markets

About Us

Law and Regulation of Financial Institutions and Markets Program Leadership


Edward Cornell Professor of Law

Robert C. Hockett was a Rhodes Scholar at Oxford University, where he received an M.A. in philosophy (mathematical logic concentration) and economics. He received his LL.M. and J.S.D. from Yale Law School and clerked for Hon. Deanell Reece Tacha, Chief Judge of the U.S. Court of Appeals for the Tenth Circuit. He also serves as consultant at the Federal Reserve Bank of New York, previously worked for the International Monetary Fund, and has just been named Fellow to the Century Foundation to lead its financial reform and economic democracy programs.

With his broad educational and practical background, Hockett has forged collaborations with faculty from many Cornell and peer university departments, as well as with state and federal legislators, think tanks, investment banks, and community groups. These include Cornell's Johnson School and Economics Department, NYU's Furman Center for Real Estate and Urban Policy, the New York City Bar Association, and even three working groups of the "Occupy" movement. Recent joint projects include white papers with Cornell's Robert Frank, NYU's Nouriel Roubini, and Westwood Capital's Daniel Alpert, as well as new statutes and supporting white papers co-drafted for NY Congressman Brian Higgins and the Banking Law Committee of the New York City Bar.

Saule Omarova

Professor of Law

Saule Omarova specializes in regulation of financial institutions, banking law, international finance, and corporate finance. Before joining Cornell Law School in 2014, she was the George R. Ward Associate Professor of Law at the University of North Carolina School of Law.

Prior to joining academia, Professor Omarova practiced law in the Financial Institutions Group of Davis, Polk, & Wardwell, a premier New York law firm, where she specialized in a wide variety of corporate transactions and advisory work in the area of financial regulation. In 2006-2007, she served at the U.S. Department of the Treasury as a Special Advisor for Regulatory Policy to the Under Secretary for Domestic Finance.

Paul McCulley

Senior Fellow in Financial Macroeconomics & Adjunct Professor of Law

Paul McCulley is Senior Fellow in Financial Macroeconomics for Cornell Law School’s Jack G. Clarke Program on the Law and Regulation of Financial Institutions and Markets. Prior, he was the Chief Economist and Managing Director at PIMCO where he served as a member of the Investment Committee in Newport Beach, and authoring the publication, Macro Perspectives. Paul previously retired from PIMCO at the end of 2010, after a decade as Managing Director and Portfolio Manager. He also headed the firm's Liquidity and Funding Desk, as well as led PIMCO’s Cyclical Economic and authored the monthly research publication, Global Central Bank Focus. During his years in retirement, McCulley was Chair of the Global Society of Fellows at the Global Interdependence Center, of Philadelphia. Earlier in his career, Paul was Chief Economist for the Americas at UBS, where he was named to six seats on the Institutional Investor All-America fixed income research team. Known for coining the terms Shadow Banking System and Minsky Moment, Mcculley holds an MBA from Columbia Graduate School of Business and a BS from Grinnell College, of Iowa.