Eric Robins Weaves Economics, Law in Work for D.C. Firm
Eric I. Robins’ interests and education brought him to a practice that combines law and economics. And it’s an especially good vantage point as he helps clients navigate through the troubled economy and track developments in Congress as the Obama administration proposes new regulations to reshape the financial sector.
A NABE member since 2006, Robins joined the Washington, D.C., law firm Williams & Jensen that same year as an associate specializing in legislative and regulatory issues, mainly in tax and financial services.
“I represent corporate entities and trade associations in a wide range of services, including assisting with the preparation of witness testimony for Congressional hearings and comment letters for regulatory agencies, as well as acting as a liaison with Congress and regulatory agencies. I also monitor tax, budget, and other legislation that influence financial services policy,” Robins said in late January interviews via e-mail and phone.
As the economic crisis deepened and policymakers intervened last year with unprecedented support for financial institutions, Robins was among the many economists who worked to assist their firms and clients in understanding what the new policy actions meant and how they would affect specific sectors. For a period of months in the fall of 2008, “not a week seemed to go by without the introduction of at least one new federal government program to assist the economy,” he pointed out.
Using Economics To Track Rulemaking
Robins reviews economic analyses of the Securities and Exchange Commission (SEC) as the agency promulgates new rules. For instance, he reviewed and critiqued the economic analysis used by the SEC as to the promulgation of a rule on the pricing of market data by securities exchanges.
After the Senate confirmation and swearing in of Mary Schapiro as the new SEC chairman in late January, activity at the agency “will pick up,” Robins said, ending a relatively quiet interim period as the Bush administration finished its term and the new Obama team assumes leadership.
As Congressional committees push forward on new regulations and reform, Robins said he will monitor legislative proposals, testimony at hearings, and related items, for the firm’s clients. “Clients need to know more than is generally provided in mainstream media accounts about legislation,” he noted. There is strong interest among the firm’s clients in how regulatory reforms will affect their industry, as well as tax policy and regulatory reform in general, he added.
Robins said that his work also has involved researching “the background of various industries to calculate Herfindahl-Hirschman Index (HHI) values to determine the level of concentration in an industry and to provide an estimate as to the likelihood of antitrust concerns being raised by the federal government in a merger or acquisition.”
Lessons for Future Generations
Through his firm, Robins maintains a connection to the State University of New York at Buffalo, where he earned degrees, both a Juris Doctor and a Masters in applied economics in June 2003 and June 2004, respectively. He continues to work with law professors there to provide them with the latest information about the financial crisis. “The financial crisis has also provided a valuable education, which in turn, is being used to educate future generations,” he said.
In this connection to the SUNY at Buffalo law school, Robins had been following several key developments, including “the future of regulatory reform with respect to the securities, futures and insurance markets.” In particular, he has been looking at “the future of some of the administrative agencies, and how Congress and the Obama Administration could reshape them, in light of the current financial crisis.”
After his graduation from SUNY at Buffalo, he worked at a law firm in New York City, where he focused mainly on securities and corporate law. “Primarily, I worked with individuals who had either lost funds through mismanaged investments or through fees from excessive trading in their brokerage accounts. We primarily pursued these claims through arbitration or a court of law where applicable,” he said.
NABE, Get Connected Valuable for Contacts
Wishing that he had found NABE earlier, Robins said that he joined because of his “interest in the discussion and practical application of economics.” He joined both NABE and Get Connected in 2006, and has since become active in the National Economics Club (NEC), NABE’s chapter in the nation’s capital. For 2009, Robins is serving jointly with Ed Kean, the Observatory Group, as vice president for programs for the NEC.
The combination of law and economics works well for him, Robins said. “With my work primarily focused on the use of my legal education, I sought an outlet [through NABE], in which I could use and possibly build upon my economics education,” he said.
As an attorney with experience drafting bylaws for organizations, Robins has helped write bylaws for Get Connected, the group launched within NABE for early and mid-career professionals. “The most valuable aspect of my membership has been my ability to interact with senior economists in the field either at the conferences or through Get Connected,” Robins said, adding that he would encourage economists to join both groups for the networking value and the sharing of professional experiences to advance their careers.
