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Andrew Granato

@agranato42.bsky.social
627 followers 443 following 285 posts

Assistant Professor at UT Austin School of Law; legal economist. "We are selling to willing buyers at the current fair market price - so that we may survive." Site: law.utexas.edu/faculty/andrew-grana…

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Andrew Granato @agranato42.bsky.social · 01/10/2026
Debuting two new papers at CELS this weekend: Valuation Malleability in Securities Litigation (with Adam Callister) and GRATs as Quasi-Options: Evidence from Corporate Insiders' Estate Planning (with @matthewcpierson.bsky.social). Say hi if you're around!
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Matt Pearce @mattdpearce.com · 25/08/2026
The idea was born after French President Emmanuel Macron and the Saudi crown prince discovered a shared enthusiasm for
"Dragon Ball Z" during Macron's visit to Saudi Arabia in 2025, Macron advisers said.
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Brian Galle @bdgesq.bsky.social · 19/08/2026
Thought I could escape reading yet more from the ubiquitous @agranato42.bsky.social but now he's showing up in my basketball news feed, too. Does this guy sleep? www.nytimes.com/athletic/752...
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Andrew Granato @agranato42.bsky.social · 17/08/2026
Excited to announce that Private Credit's State Backstop will be published in @califlrev.bsky.social in 2027! @pranjal-drall.bsky.social and I will be continuing to refine the piece and explore additional aspects of this phenomenon in the coming months.
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Andrew Granato @agranato42.bsky.social · 15/08/2026
It's happening!
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Andrew Granato @agranato42.bsky.social · 11/08/2026
I want to apologize to every faculty member with whom I've ever been frustrated for taking a long time to respond to an email. I'm sorry. I understand now.
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James Fallows Tierney @jamesftierney.bsky.social · 29/07/2026
Brian Leiter wrote about faculty layoffs at my university. leiterreports.com/2026/07/29/i...
leiterreports.com
Illinois Institute of Technology declares “financial exigency” and begins firing faculty, including tenured faculty
Up to one-third of the faculty may be terminated, although in the law school, Chicago-Kent, it appears the number is lower (maybe one-fifth by some accounts). If readers have more details, please e…
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Ingrid Robeyns @ingridrobeyns.bsky.social · 05/08/2026
The New School for Social Reserach in NYC is, essentially, killing itself, killing what it was, killing what it stood for. www.nytimes.com/2026/08/05/n...
nytimes.com
He Had Tenure. The New School Laid Him Off Anyway. (Gift Article)
The professor, a longtime critic of the university, was among 19 educators who lost their positions as the institution navigated financial woes.
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Andrew Granato @agranato42.bsky.social · 05/08/2026
Setting up my fall-semester office hours and I'm tentatively doing half of them open season/half of them with priority to people who sign up in advance for 20-minute Calendly slots. Do profs have advice on this?
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The Capitol Forum @capitolforum.bsky.social · 04/08/2026
Join us on August 6 at 11:00 a.m. ET for a conference call with @agranato42.bsky.social and Pranjal Drall on "Private Credit's State Backstop: How Private Equity Socializes Risk Through Insurers." RSVP: thecapitolforum.com/events/?utm_...
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Andrew Granato @agranato42.bsky.social · 03/08/2026
Pranjal and I talked to The American Prospect about Private Credit’s State Backstop: prospect.org/2026/08/03/a...
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Andrew Granato @agranato42.bsky.social · 31/07/2026
We went on Odd Lots! @pranjal-drall.bsky.social and I on the theoretical case for the PE-backed life insurance "flywheel," the design of the insurance's public backstop, and our concerns with the way this is all playing out. www.youtube.com/watch?v=4UdW...
youtube.com
Why Private Credit Got Entangled With Insurance | Odd Lots
YouTube video by Bloomberg Podcasts
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Andrew Granato @agranato42.bsky.social · 31/07/2026
.@pranjal-drall.bsky.social and I will be on @capitolforum.bsky.social August 6 talking Private Credit's State Backstop. Registration link is here for anyone interested: thecapitolforum.com/events/priva....
thecapitolforum.com
"Private Credit's State Backstop: How Private Equity Socializes Risk Through Insurers" with Andrew Granato and Pranjal Drall - The Capitol Forum
The Capitol Forum will host a conference call with Andrew Granato, Assistant Professor at the University of Texas School of Law, and Pranjal Drall, a J.D.-Ph.D. candidate in Financial Economics at Yal...
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Andrew Granato @agranato42.bsky.social · 27/07/2026
More on the LA Dodgers PE/private credit/life insurance criminal probe. This is the exact sort of issue that @pranjal-drall.bsky.social and I flag: use of an insurer as a privileged issuance vehicle for private credit to other firms of the owner, potentially at policyholder/taxpayer expense.
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Christopher Mims @mims.bsky.social · 25/07/2026
Fresh evidence the private equity firms pouring money into the AI bubble could lead to the insolvency of companies behind life insurance for millions -- in which case we'll all end up paying for the bailout, as we did in 2008: paulkedrosky.com/socializing-...
paulkedrosky.com
Socializing Data Center Financing Risk
There is a strong new paper out about how private socializes risk via the (captive) insurance channel, with implications for data center capex, given the (now) greater than 50% reliance on external fi...
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Carl Quintanilla @carlquintanilla.bsky.social · 25/07/2026
Here’s what Burry has been posting this weekend.
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Jesse Felder @jessefelder.com · 25/07/2026
‘PE-owned life insurers reflect a structural transformation in which an insurer supports a broader asset-management business that is designed to extract value upfront and impose losses on others.’ papers.ssrn.com/sol3/papers....
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Andrew Granato @agranato42.bsky.social · 24/07/2026
Thanks Odd Lots and @tracyalloway.bsky.social for highlighting our research on Private Credit's State Backstop!
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Andrew Granato @agranato42.bsky.social · 21/07/2026
New w/ @pranjal-drall.bsky.social: Private Credit's State Backstop: How Private Equity Socializes Risk Through Insurers. It's about how insurance insolvency, tax, and financial-regulation law have subsidized PE's takeover of life insurance and become the submerged law of private credit.
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Andrew Granato @agranato42.bsky.social · 13/07/2026
Really excited to see that this paper has gone public. One of the most exciting things a paper can do is show you that all sorts of scattered phenomena are actually part of a whole. Link: papers.ssrn.com/sol3/papers....
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Alex Burness @burness.bsky.social · 30/06/2026
To this day, one of the most unbelievable facts we’ve ever published in @boltsmag.org: Over a 40-year period, *80* percent of death row convictions in Louisiana have ended up getting reversed.
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Andrew Granato @agranato42.bsky.social · 24/06/2026
In Pung vs. Isabella Cty today, the Supreme Court held that the proper valuation method for determining "just compensation" in a foreclosure of property to make up tax debt does not have to be its "fair market value" (what a "willing buyer" and "willing seller" would achieve).
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Andrew Granato @agranato42.bsky.social · 21/06/2026
Final version is live on the Journal of Empirical Legal Studies website! Why defendant-side expert witnesses get paid systematically more in class actions (and, arguably, all contingency fee litigation) than their plaintiff-side counterparts.
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Josh Lappen @jlappen1.bsky.social · 19/06/2026
@agranato42.bsky.social's 2017 investigation of the political economy of the Stanford Review remains a true banger of student investigative journalism.
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Ann M. Lipton @annmlipton.bsky.social · 04/06/2026
not sure if everyone can access this, but I just learned about some dramatic changes to SSRN from Steve Bainbridge's Substack. This is really bad; SSRN has been how I keep up with scholarship in my field from a variety of researchers www.stephenbainbridge.com/p/the-social...
stephenbainbridge.com
The Social Science Research Network Has Jumped the Shark
Significant and unwelcome changes to what had been legal academia's major open source scholarly repository and notice system
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Alison Killing @alisonkilling.bsky.social · 29/05/2026
NEW: Xinjiang has the highest detention capacity in the world, according to FT analysis - enough space for almost 1 in 40 people in the region - more than five years after the Chinese govt announced the camps had closed.
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Andrew Granato @agranato42.bsky.social · 27/05/2026
15 years of entry level law prof hiring:
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Andrew Granato @agranato42.bsky.social · 26/05/2026
Conflicting Values in Judicial Valuations is now forthcoming at the Journal of Empirical Legal Studies! Thanks to the reviewers, discussants, and conference participants who have helped the paper.
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Milan Markovic @profmarkovic.bsky.social · 21/05/2026
AI has genuinely useful applications in law but 1) you need a large knowledge base to use it effectively and 2) law schools need to focus on providing that knowledge base. My worry is future lawyers will trust automated judgments over their own.
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Rural Indexing Project @ruralindexing.bsky.social · 22/05/2026
Bank Manlius, IL
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Julian Sanchez @normative.bsky.social · 20/05/2026
I’m not sure why this isn’t being mentioned more, but: IRS policy for 50 years has been that the sitting president & VP get audited every year, in an effort to reassure the public they’re not corruptly abusing the office to enrich themselves.
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Andrew Granato @agranato42.bsky.social · 17/05/2026
We’re live! Huge thanks to the editors. repository.uclawsf.edu/hastings_bus...
repository.uclawsf.edu
After the “Partner Run”: the Dewey & LeBoeuf Diaspora
“Partner runs”—mass, near-instantaneous departures of partners from distressed law firms—are a distinctive feature of the American legal profession, produced by an interaction of legal ethics rules, p...
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Andrew Granato @agranato42.bsky.social · 13/05/2026
I will get access to my faculty office this summer and am now deciding how I should decorate it! Would love to hear from faculty about how they have used the physical design of their offices to make their lives easier/aura farm
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Science Magazine @science.org · 09/05/2026
Breaking news: Indiana University plant microbiologist Roger Innes has been locked out of his laboratory by the school in response to a request by one of his federal funders. The move comes after Innes complained about the government’s prosecution of Chinese postdocs. scim.ag/4tsDqRr
scim.ag
After USDA request, Indiana plant biologist locked out of lab by school
Move comes after Roger Innes complained about the government’s prosecution of Chinese postdocs
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Brian Galle @bdgesq.bsky.social · 04/05/2026
🚨 Sens. Murray & Wyden release text of landmark "Fair Trusts Act for Fiscal Responsibility" featuring annual 1-3% tax on net worth of tax-avoiding trusts. One-page summary: www.murray.senate.gov/wp-content/u... For more in-depth coverage of this approach see this thread: bsky.app/profile/bdge...
murray.senate.gov
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Ned Resnikoff @resnikoff.bsky.social · 04/05/2026
Not going to hold my breath waiting for a retraction from every publication that treated this study as proof that YIMBYism doesn't work.
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Andrew Granato @agranato42.bsky.social · 23/04/2026
In 2008 we absolutely saw runs on shadow banks, but we also saw runs on actual banks! They just didn't come from depositors: www.aeaweb.org/articles?id=...
aeaweb.org
Who Ran on Repo?
(May 2020) - The sale and repurchase (repo) market played a central role in the recent financial crisis. From the second quarter of 2007 to the first quarter of 2009, net repo financing provided to US...
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Andrew Granato @agranato42.bsky.social · 23/04/2026
A sleeper pick for a critical election to watch: California Insurance Commissioner. Given the fragility of insurers' relationship to the state, a failed insurance commissioner could be a devastating blow. The Dem primary is June 2. A quick rundown of some of the candidates:
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Andrew Granato @agranato42.bsky.social · 20/04/2026
Once more: the Supreme Court, strong-form law & economics, and Marxist legal theory agree that the most important function of the Court is to protect capital. What they disagree about is whether that is normatively good.
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Andrew Granato @agranato42.bsky.social · 15/04/2026
Nice piece on the specifics of the tax rules that incentivized Warner Bros to shelve Coyote vs Acme, Batgirl, and Scoob!: Warner Bros was likely accelerating a IRC 165 loss to the present year. This maneuver relies on principles unacceptable in other areas of tax law. papers.ssrn.com/sol3/papers....
papers.ssrn.com
Perverse Tax Incentives and the Destruction of Creative Works
<p>In late 2023, Warner Bros. Discovery announced that it would be permanently shelving <i>Coyote vs. Acme</i>, a complete and hotly anticipated film about popu
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Andrew Granato @agranato42.bsky.social · 14/04/2026
Senator Wyden has officially released his Protecting Proper Life Insurance From Abuse Act, which strips the tax benefits from private placement life policies if the underlying segregated insurer asset account supports less than 25 individual policies. www.finance.senate.gov/ranking-memb...
finance.senate.gov
New Wyden Bill Would Close Private Placement Life Insurance Tax Shelter Abused by the Ultra-Rich | The United States Senate Committee on Finance
New Wyden Bill Would Close Private Placement Life Insurance Tax Shelter Abused by the Ultra-Rich
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NBER @nber.org · 02/04/2026
Examining the Cybersyn Project in Chile. A network that in 1972 connected, through telex machines, more than 300 recently nationalized firms, from Sebastian Edwards www.nber.org/papers/w35002
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Andrew Granato @agranato42.bsky.social · 01/04/2026
Very proud and happy to see that this is up and that Texas Law students can take my seminar on Unorthodox Business Associations this fall. Always looking for more examples!
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Andrew Granato @agranato42.bsky.social · 30/03/2026
An observation re-inspired by seeing this new paper: in the agentic AI era, the true foe of empirical legal studies is the judiciary. Empirical studies with regulatory data can pull in millions of observations in weeks, days (hours?). But if you do work on litigation, good luck.
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Andrew Granato @agranato42.bsky.social · 23/03/2026
Does anyone know why SSRN has abruptly destroyed itself and made articles impossible to find through google search?
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Max Dubler 🏳️‍🌈 @maxdubler.com · 18/03/2026
Austin’s surge of new housing supply drove down housing prices across the board, with the largest benefit going to renters in the lowest cost buildings: “Rents declined about 11% in older non-luxury buildings that cater to lower-income renters, known as Class C buildings.”
pew.org
Austin’s Surge of New Housing Construction Drove Down Rents
After decades of explosive growth, Austin, Texas, in the 2010s was a victim of its own success. Lured by high-tech jobs and the city’s hip reputation, too many people were competing for too few homes....
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Andrew Granato @agranato42.bsky.social · 18/03/2026
In economics, a new generation (people like Simon Oh, Ishita Sen, Ana-Maria Tenekedijieva, Pari Sastry) has begun a revival of interest in property & casualty insurance markets. Life insurance and health insurance are separate animals entirely. We’re watching the tip of an iceberg.
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Ruth Delgado @heylookitsruth.bsky.social · 18/03/2026
Dolores Huerta's statement on Cesar Chavez: “I am nearly 96 years old, and for the last 60 years have kept a secret because I believed that exposing the truth would hurt the farmworker movement I have spent my entire life fighting for... I can no longer stay silent and must share my own experiences"
medium.com
March 18, 2026
Today, civil rights leader Dolores Huerta issued the following statement:
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Andrew Granato @agranato42.bsky.social · 18/03/2026
Among other things, this paper is a showcase of how tools entirely internal to economics can demonstrate findings that are entirely contrary to oversimplistic "econ 101" narratives. pubs.aeaweb.org/doi/pdfplus/...
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