Feds: Gambling Fine, But Investing Too Risky

John Berlau

September 25, 2019

“In the risk reform debate, as in so many political debates, logic is often for losers.” So lamented Competitive Enterprise Institute founder and president emeritus Fred L. Smith, Jr. in 1995, and he has expressed similar sentiments many times since.

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Speech Police at the DMV: Regulation and Arbitrary Rule

Wen Fa

September 19, 2019

Vague laws invite arbitrary power. Laws that require regulators to censor speech they find offensive, for example, give them free rein to make decisions that are arbitrary, biased, and unjust.

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The FDIC Refinery

Wayne A. Abernathy

September 19, 2019

The FDIC took several actions to refine proposed and existing banking regulations, each with a focus on better achieving their purpose by making them easier to administer and less of a weight on economic activity.

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California Assembly Bill 5 Legislation – An Expansive and Potentially Onerous Definition of Employee Status Under California State Law

G. Roger King

September 12, 2019

AB 5 would appear to be a significant overreach, and also a clear misinterpretation of traditional common law principles defining independent contractor status.

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Key Points in the Treasury’s Fannie/Freddie Paper

Alex J. Pollock

September 11, 2019

The important parts of the Treasury’s new paper on Fannie and Freddie reform are not the legislative recommendations, since legislation is not going to happen. They are the administrative steps which can actually be taken now, with political will.

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We Three Kings: Lacking Representation in Index Fund Corporate Governance

Brian Knight

September 4, 2019

In his new article, Prof. Caleb N. Griffin discusses the challenge of how to make index funds reflect the preferences of actual investors when it comes to corporate governance issues.

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Climate and the Courts: Juliana Oral Arguments

James W. Coleman

August 27, 2019

How much can the federal courts do on a climate change? If you want more climate regulation than Congress is willing to provide, it’s an urgent question. The most recent and most ambitious climate lawsuit is Juliana v. United States, a lawsuit by children asking the courts to order the government to aggressively regulate carbon emissions. These plaintiffs argue that they have unwritten constitutional and federal common law rights to a stable climate and that the government must uphold these rights by imposing limits on private carbon emissions. The Ninth Circuit recently heard their argument and its upcoming decision will help define the outer boundaries of what the courts can do on climate change.

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Of Class Actions and Usury – Shrinking Credit in the Second Circuit

Jerry Loeser

August 14, 2019

If successful, two class actions could discourage investors from purchasing securitized debt owed by borrowers residing in the Second Circuit, thus reducing markets for the securitization of loans by banks to borrowers residing in the Circuit.

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Give Me a Break: The Need for DOL to Review Outdated and Stifling Workplace Rules

James Paretti

August 13, 2019

As the U.S. Department of Labor (DOL) prepares for new leadership in the coming months, now more than ever the time is right for it to consider a stem-to-stern review of its regulations under the Fair Labor Standards Act – a law passed in 1938, and implemented by regulations which often bear little relation to the realities of today’s 21st century workforce.

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Good Intentions Gone Awry: Racial Quotas in Connecticut Schools

Wen Fa

July 23, 2019

Hartford, Connecticut is a modern day tale of two cities. The city has world-class magnet schools, where students have access to butterfly vivariums and some of the best education the state has to offer. Then there are failing neighborhood schools, where rust has changed the color of traffic signs and where many children’s hope for a brighter future have been extinguished.

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