The financial industry has used many tactics to derail this process, but its standout victory was a 2010 lawsuit by the Business Roundtable and the U.S. Chamber of Commerce against the Securities and Exchange Commission, which had proposed a rule to make it easier for investors to oust corporate directors. The U.S. Court of Appeals in Washington said last July that the SEC hadn’t properly assessed the rule’s costs and benefits. It was “an aggressive stretch of the law” in the view of John Coffee, a securities law professor at Columbia University.
Self-regulatory organizations are also worried about potential lawsuits stemming from the costs of their rules to the industry, compared to the benefits, said John Coffee, a professor at Columbia Law School and authority on securities regulation.
Joining Starr on the panel were constitutional law professors Pamela Karlan of Stanford University and Columbia University’s Jamal Greene.
“It was [Roberts’] low-cost way of signaling solidarity,” Greene said. The chief justice “is a student of history. The last time the court struck down a congressional law as significant was probably the Missouri Compromise in Dred Scott.”
Columbia Law School vice dean Gillian E. Metzger examines how the Constitution outlines Congress’s tax power and how it has been applied, during a 2012 ABA Annual Meeting panel, “Health Care Reform Cases: The Court Speaks on the Limits of Congressional Power.”
These central SOEs differ widely in terms of the power they can exert, said Curtis Milhaupt, a Columbia University law professor who studies SOE organization. Some strictly follow SASAC’s marching orders, while other SOEs are technically on the same organizational rank as SASAC and might go over its head to appeal directly to the State Council.
Finra should have reviewed internal controls at Mr. Madoff's firm, which shouldn't have been able to stiff-arm Finra inspection or information requests, John Coffee, a professor of law at Columbia University, said during 2009 congressional testimony.
"A bank serving as a money launderer for Iran, you couldn't make up a Frankenstein monster designed to scare the US public more," says John Coffee, a professor of securities law at Columbia University in New York.
“A contract for the sale of debt doesn’t have to be in writing,” said Robert E. Scott, a professor at Columbia Law School in New York. “There are no statutory bars to enforcement if there was a meeting of minds and a final understanding.”
John Coffee, a law professor at Columbia University in New York, said even a single illegal transaction would be enough to spark a justice department investigation. "There are 20-year sentences for money laundering in the US," he said.
The New York Police Department (NYPD) unveiled a new "Domain Awareness System" on Wednesday that combines and analyzes many streams of information to track possible criminals and terrorists. According to Mayor Michael Bloomberg, "This new system capitalizes on new powerful policing software that allows police officers and other personnel to more quickly access relevant information gathered from existing cameras, 911 calls, previous crime reports, and other existing tools and technology." The program illustrates the growing power of data analytics technology to support counterterrorism and law enforcement, and it raises questions about the appropriate limits and oversight of those processes.
Lawsky "is taking the path of least resistance," said John Coffee, a securities law professor at Columbia University, noting that a books and records allegation is an easier charge to bring and the tactics "may well produce a settlement."
He was joined by Jonathan Franklin, a partner at Fulbright & Jaworski in Washington D.C., Gillian Metzger, vice dean of Columbia Law School in New York, and Clare Connor Ranalli, a partner at Holland & Knight in Chicago who moderated the discussion.
John C. Coffee Jr., a law professor at Columbia with expertise in securities and Wall Street, said in an interview that Mr. Lawsky was showing “the same impatience that we have seen from state regulators who want to rile things up.”
"If you haven't been convicted at all, your pretrial detention is not a form of punishment," said Columbia Law School professor Jamal Greene. "The degree to which his liberty can be restricted is directly tied to the needs that required him to be detained. So if he was detained only to secure himself for trial, he can't be detained for punishment."
It's a clever idea. But is it legal? "It's very unusual," says Thomas W. Merrill, a law professor at Columbia University who specializes in property law. But, he notes, "this doesn't mean it's unconstitutional."
There have been numerous cases claiming a redistricting plan violates the section by diluting the vote of a minority group, but few cases in an area, sometimes called vote denial, that includes photo identification laws. Nathaniel Persily,a professor at Columbia Law School who has testified on the Voting Rights Act before the U.S. Senate Judiciary Committee, said there is no clear test, outside the realm of redistricting, of when disparate racial impact means a violation of Section 2.
“Obviously the DOJ is concerned that any preclearance denial that it issues might become a vehicle for striking down Section 5 of the Voting Rights Act as unconstitutional,” said professor Nate Persily, director of the Center for Law and Politics at Columbia Law School. “They have been walking gingerly in recent years. The DOJ has interposed relatively few objections this redistricting cycle.”
Finra should have reviewed internal controls at Mr. Madoff's firm, which shouldn't have been able to stiff-arm the SRO's inspection or information requests, John Coffee, a Columbia University law professor, said during congressional testimony in 2009.
As we prepare for LinuxCon and the 20th Anniversary of Linux, we take a look back at some of the Linux and open source luminaries we've been so lucky to have at Linux Foundation events. Of course, this isn't an exhaustive list but it highlights some of the greatest Linux and open source minds of the current day.
Eben Moglen, founder of the Software Freedom Law Center and professor at Columbia Law School, we're excited to hear his thoughts in a couple of weeks at LinuxCon about the 20th anniversary of Linux.
Nate Persily, a professor of law and political science at Columbia Law School whose research and writing focuses on voting and election law, calls the fraud claims overblown. But he added: "I tend to think that the effects of these [voter ID] laws will not be as great as the critics think or that the proponents hope for."