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Drawing lines
One of the first things law students learn is that law is mostly about drawing lines between acceptable and unacceptable conduct. Some lines are easy to draw: murder is out; giving money to charitable causes is in. But even in these cases, there are definitional and moral puzzles at the boundaries. When is taking a ... Drawing lines
Update on backdating
It’s been quite a while since we discussed backdating here at TOTM. But back when it was all the rage, we were substantial contributors, formulating (we believe) some of the first fundamental explanations of the issues. Some of the best posts from our backdating archive are here: I look pretty young but I’m just backdated, ... Update on backdating
Art and Politics
When I first met my father in law, he spent hours trying to convince me of the cultural superiority of his tastes. Some of these were indeed triumphs. I’m thinking here of “Dr. Strangelove,” “The 400 Blows,” and the music of Richard Wagner. (Others were not. I’m thinking here of “Children of Paradise,” a movie ... Art and Politics
"Diminishing the price of law"
The lesson from Jones, see my post below, is that law untamed can be very costly, and with little benefit. This is, of course, not a new idea. In a critical essay of “Southey’s Colloquies on Society,” Lord Thomas Macaulay wrote eloquently about the cost of law and government: “Our rulers will best promote the ... "Diminishing the price of law"
Who decides how much to pay?
What is the proper role for judges in deciding how much investment advisers to mutual funds should be compensated? This is the question the Supreme Court will answer in Jones v. Harris Associates, argued last month. At first, the question seems silly: courts don’t get a say in how much I get paid or how ... Who decides how much to pay?
Welcome new TOTM blogger Todd Henderson
We are delighted to announce the addition of another new permanent blogger here at TOTM: University of Chicago law professor Todd Henderson. Like Thom, Todd is a member of the venerable University of Chicago Law School class of 1998 (second only to the most-venerable class of 1997!). Todd is an expert in corporate law and ... Welcome new TOTM blogger Todd Henderson
Debating Google
Apologies for the late notice on this. Last week I was on a Federalist Society panel discussing Google’s antitrust issues with Rick Rule, Susan Creighton and Scott Cleland. The event description follows, and you can find audio of the panel here. It was an interesting discussion, full of nice ironies in that Microsoft’s chief outside ... Debating Google
Features v. Bugs: Intel and the Relationship Between Sections 2 and 5
There will be much to say about the Federal Trade Commission’s Intel complaint in the coming months. And we’ve said quite a bit already. But having just read the complaint and the statements from Chairman Leibowitz and Commissioner Rosch discussing the various rationales for making Section 5 the primary hook for this case, I wanted ... Features v. Bugs: Intel and the Relationship Between Sections 2 and 5
Another Mis-step in Reactionary Regulation
Today’s Wall Street Journal reports that Senators Cantwell and McCain are preparing legislation to reinstate Glass-Steagall-type restrictions to create a “firewall” between commercial and investment banks. Apparently Rep. Hinchey is preparing a similar assault in the House. The purpose behind the proposal, according to Ms. Cantwell, is so that “banks will stop diverting resources to ... Another Mis-step in Reactionary Regulation
It's a Section 5!
The FTC brought its long-awaited case against Intel today. New York Times report here. Of course we’ve covered the various antitrust claims against Intel at great length on this blog, and have found all of the theories wanting. Chairman Leibowitz’ statement is here. Most notable at first glance is that this is being brought primarily ... It's a Section 5!
The seeds of an antitrust disaster
If you live outside the farm belt (or you’re not an antitrust junkie) you might have missed what is shaping up to be one of the biggest antitrust stories of the coming year: The set of antitrust accusations and actions against Monsanto for its alleged anticompetitive conduct in the biotech seed market. The AP reports: ... The seeds of an antitrust disaster
Climate Change and the Non-Sensical Precautionary Principle
In his New York Times column, Thomas Friedman advocates “doing the Cheney-thing on climate — preparing for 1%.” He’s referring to Vice-President Cheney’s reported remark: “If there’s a 1% chance that Pakistani scientists are helping Al Qaeda build or develop a nuclear weapon, we have to treat it as a certainty in terms of our ... Climate Change and the Non-Sensical Precautionary Principle
