The AALS each year selects a few “hot topics” program proposals for discussion of “late-breaking” subjects at the January meeting. This year I agreed to be included in a hot topics panel described as follows: Law schools have long kept a comfortable distance from the concerns of the practicing bar. Earlier calls for reform such ... The AALS doesn’t want to hear about the future of law teaching
Professor Bainbridge is urging his readers to pressure Eric Cantor into dropping his opposition to pending legislation that would ban Congressional insider trading. But before you Twitter Cantor, please read Todd Henderson and my Politico column, in which we make the following point, among others: A prohibition on trading would be impossible to enforce because ... The Twitter campaign for the STOCK act
Roberta Romano has just posted her paper, Regulating in the Dark. Here’s the abstract: Foundational financial legislation is typically adopted in the midst or aftermath of financial crises, when an informed understanding of the causes of the crisis is not yet available. Moreover, financial institutions operate in a dynamic environment of considerable uncertainty, such that ... Notes from the tea party caucus of corporate academia
About a month ago I discussed a case in which I had written an amicus brief: Last year I wrote here about Roni LLC v Arfa, which I cited as an example of the ”troubling lawlessness of NY LLC law.” In brief, the court sustained a non-disclosure claim based on “plaintiffs’ allegations that the promoter ... An academic’s day in court
It’s Sunday so the NYT has another David Segal screed on legal education. This time he presents the insight that law school is expensive because of accreditation standards that prevent law schools from containing costs even if they wanted to. Segal says, “[t]he lack of affordable law school options, scholars say, helps explain why so ... The NYT on why law school is expensive
Todd Henderson insightfully observes that it’s a collection of well-organized 1%’s.
Eric Felten writing in yesterday’s WSJ, observes the hypocrisy of the poets who withdrew from competition for the T.S. Eliot Poetry Prize because it was funded by a financial firm. “Hedge funds are at the very pointy end of capitalism” sniffed one self-described “anti-capitalist in full-on form.” The anarchist vegan correctly observed that the funder’s ... Poets vs. capitalists
We have heard much about the costs of internal controls reporting under SOX 404. Proponents argue that the fraud reduction is worth the costs. One might question this in light of anecdotes like all the missing cash at MF Global (and many other post-SOX securities fraud suits where auditors and executives had signed off on ... The ineffectiveness of internal controls reporting
A lot of ink has been spilled about the technology threat to traditional law practice. But U.S. law firms need also to worry about lawyers elsewhere in the world. The WSJ reports that Beijing-based King & Wood is planning to join with Australian firm Mallesons Stephen Jaques to form Hong Kong-based verein King & Wood ... The global threat to U.S. law
Stanley Fish opines on the NYT’s recent criticisms of legal education (HT Leiter): The expert practitioner is expert in part because when he listens to a client or walks into a courtroom the field of action is already configured for him by an internalized understanding of what could possibly be at stake in proceedings like ... Fish on law teaching
States can be a wonderful laboratory and platform for jurisdictional competition. But sometimes the laboratory seems to belong to Dr. Frankenstein and then federal law must step in to bring order. Biff Campbell thinks Reg D has failed its intended purpose and the reason is state law. Here’s part of the abstract: Regulation D * ... Preempting state securities laws
The WSJ Law Blog reports that New York Supreme Court Justice Marcy Friedman held that a former Holland & Knight partner wasn’t an employee under city and state anti-discrimination laws and therefore wasn’t entitled to age discrimination protection for his expulsion at age 55. Per the Law Blog’s summary, the ex-“partner” argued that he was ... Are partners employees under the discrimination laws?