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Strauss-Kahn saved by Brady
From the White Collar Crime Blog: Dominique Straus-Kahn has received from the district attorney what most defendants never get — early Brady material. * * * The District Attorney should be commended for the early disclosure of the purported victim’s credibility problems. I cannot help wonder, however, whether such disclosure would have been made — ... Strauss-Kahn saved by Brady
Law schools as borscht
Zillions have linked to and millions have commented on the NYT Economix blog post on the supposed lawyer surplus. Here are some further thoughts on the “lawyer glut” and its implications for legal education. To begin with, the NYT numbers are unreliable. They ignore, among other things, the facts that people take multiple bars, and that ... Law schools as borscht
More on Google and Antitrust
My op-ed on the Google antitrust issue with Tom Lenard is up on Forbes.com. Like others, we find that the FTC is overreaching.
Sacrificing Consumer Welfare in the Search Bias Debate, Part II
I did not intend for this to become a series (Part I), but I underestimated the supply of analysis simultaneously invoking “search bias” as an antitrust concept while waving it about untethered from antitrust’s institutional commitment to protecting consumer welfare. Harvard Business School Professor Ben Edelman offers the latest iteration in this genre. We’ve criticized ... Sacrificing Consumer Welfare in the Search Bias Debate, Part II
China
There are many stories about unrest in China. Many factors are blamed for this unrest, including low wages, poor working conditions, and political factors. But there is one thing that is not generally mentioned: demographics. The one child policy coupled with a preference for males (due to both economic and cultural factors) means that there ... China
The return of privlic equity
It’s been over four years since the heyday of the last boom when I first discussed what I called “privlic equity” in an article about Blackstone’s proposed IPO. So here we are post-bust, and according to the WSJ, they’re baack: Apollo Global Management LLC became a public company in late March. Last year, KKR & ... The return of privlic equity
New York and the market for marriage law
NY’s decision to fully legalize same sex marriage (here’s a useful news roundup) can be seen among many other things as a demonstration of legal evolution in our federal system. For some background on marriage and the market for law see Buckley and Ribstein (published 2001 Illinois Law Review 561), Ribstein 2005, and O’Hara & ... New York and the market for marriage law
Disclosures
All of the material on our blog is the pure intellectual output of its author. It isn’t hard to tell, from a few quick searches or reads of our academic work, that we have all developed, over long periods of time, our approaches to the issues we discuss and the set of priors (we hope ... Disclosures
Ralph Nader, investor
So how is Ralph Nader, the former scourge of GM and all things corporate, doing with his retirement fund? The WSJ takes a peak: In 2000, his Cisco stake was valued at $1 million, about one-third of his $3 million portfolio. As Cisco’s share price swooned in the years that followed, it has represented a ... Ralph Nader, investor
The FTC Makes its Google Investigation Official, Now What?
No surprise here. The WSJ announced it was coming yesterday, and today Google publicly acknowledged that it has received subpoenas related to the Commission’s investigation. Amit Singhal of Google acknowledged the FTC subpoenas at the Google Public Policy Blog: At Google, we’ve always focused on putting the user first. We aim to provide relevant answers ... The FTC Makes its Google Investigation Official, Now What?
The secret of Wachtell’s success
The WSJ on the occasion of Martin Lipton’s 80th birthday, discusses the man and his firm. On Wachtell’s structure, the article notes that Wachtell “has become one of the world’s most profitable and best-known legal brands under Mr. Lipton’s management,” that it charges “by the case, rather than by the hour,” that the firm’s “primary ... The secret of Wachtell’s success
Cassandra, the Fear of Overregulation, and the CFPB
In the Huffington Post, Marcus Baram warns against those who claim to be concerned about over-regulation on Wall Street and in the consumer protection sphere. Baram writes: Today, Wall Street is again on the attack against a regulatory overhaul that includes more stringent investor and consumer protections. Though the financial landscape is far different and ... Cassandra, the Fear of Overregulation, and the CFPB
