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Full-Text Articles in Law

Unconstitutionally Illegitimate Discrimination, Brandon L. Garrett Jan 2019

Unconstitutionally Illegitimate Discrimination, Brandon L. Garrett

Faculty Scholarship

When government officials express intent to disparage or discriminate against a group, the constitutional consequences can be severe, but they are rarely imposed. In this Article, I argue that discriminatory motive is and should be enough to declare government acts unconstitutional. Second, I argue that the main reason why is the harm to government legitimacy. While some argue that the concern with intentional discrimination is its harm, such as its stigmatizing effect, I argue that the focus should not be on harm, but on how it delegitimizes government. I make the descriptive claim that Constitutional doctrine, in its broad outlines ...


Finding Law, Stephen E. Sachs Jan 2019

Finding Law, Stephen E. Sachs

Faculty Scholarship

That the judge's task is to find the law, not to make it, was once a commonplace of our legal culture. Today, decades after Erie, the idea of a common law discovered by judges is commonly dismissed -- as a "fallacy," an "illusion," a "brooding omnipresence in the sky." That dismissive view is wrong. Expecting judges to find unwritten law is no childish fiction of the benighted past, but a real and plausible option for a modern legal system.

This Essay seeks to restore the respectability of finding law, in part by responding to two criticisms made by Erie and ...


Energy Competition: From Commodity To Boutique & Back, James W. Coleman Jan 2019

Energy Competition: From Commodity To Boutique & Back, James W. Coleman

Faculty Scholarship

Energy products such as power, gas, and oil have long been the world’s premier commodities. Consumers demand that power and fuel are available when they want it and they prefer to pay less for it. Few know or care where their fuel or power comes from. So for years energy companies believed that efforts to differentiate their products were mostly ineffective — they were re-signed to compete on price in fierce global commodity markets. But in recent years, a new focus on regulating how energy commodities are produced has begun to splinter previously integrated energy markets, creating markets for boutique ...


Pipelines & Power-Lines: Building The Energy Transport Future, James W. Coleman Jan 2019

Pipelines & Power-Lines: Building The Energy Transport Future, James W. Coleman

Faculty Scholarship

The United States is in the middle of three profound energy revolutions — with booming production of renewable power, natural gas, and oil. The country is replacing coal power with renewable and natural gas power, reducing pollution while saving consumers money. And it has dramatically cut its oil imports while becoming, for the first time in half a century, an important oil exporter. The U.S. is on the cusp of an energy transformation that will provide immense economic and environmental benefits.

This new energy economy will require massive investment in energy transport — especially power lines to bring wind and solar ...


Bankruptcy For Banks: A Tribute (And Little Plea) To Jay Westbrook, David A. Skeel Jr. Sep 2018

Bankruptcy For Banks: A Tribute (And Little Plea) To Jay Westbrook, David A. Skeel Jr.

Faculty Scholarship

In this brief essay, to be included in a book celebrating the work of Jay Westbrook, I begin by surveying Jay’s wide-ranging contributions to bankruptcy scholarship. Jay’s functional analysis has had a profound effect on scholars’ understanding of key issues in domestic bankruptcy law, and Jay has been the leading scholarly figure on cross-border insolvency. After surveying Jay’s influence, I turn to the topic at hand: a proposed reform that would facilitate the use of bankruptcy to resolve the financial distress of large financial institutions. Jay has been a strong critic of this legislation, arguing that financial ...


Testimony Of Rebecca Ingber Before The United States Senate Committee On The Judiciary On The Nomination Of Brett Kavanaugh For Associate Justice Of The U.S. Supreme Court, Rebecca Ingber Sep 2018

Testimony Of Rebecca Ingber Before The United States Senate Committee On The Judiciary On The Nomination Of Brett Kavanaugh For Associate Justice Of The U.S. Supreme Court, Rebecca Ingber

Faculty Scholarship

I am honored to speak to the committee about these matters as you consider Judge Kavanaugh’s nomination to the Supreme Court. Judge Kavanaugh has had an exceptional career, and has many obvious strengths. Nevertheless, I believe there are concerns his jurisprudence raises that should be addressed before final consideration of his nomination. My testimony will focus on two: First, I will discuss Judge Kavanaugh’s reluctance to impose checks on the President in the national security realm, and the harms in undue deference for national security decision-making and government accountability. Second, I will address Judge Kavanaugh’s unusually dismissive ...


Making Sustainability Disclosure Sustainable, Jill E. Fisch Sep 2018

Making Sustainability Disclosure Sustainable, Jill E. Fisch

Faculty Scholarship

Sustainability is receiving increasing attention from issuers, investors and regulators. The desire to understand issuer sustainability practices and their relationship to economic performance has resulted in a proliferation of sustainability disclosure regimes and standards. The range of approaches to disclosure, however, limit the comparability and reliability of the information disclosed. The Securities & Exchange Commission (SEC) has solicited comment on whether to require expanded sustainability disclosures in issuer’s periodic financial reporting, and investors have communicated broad-based support for such expanded disclosures, but, to date, the SEC has not required general sustainability disclosure.

This Article argues that claims about the relationship ...


A General Mitigation For Crimes Driven By Emotion?: Physiological, Personal Choice, And Normative Inquiries, Paul H. Robinson Sep 2018

A General Mitigation For Crimes Driven By Emotion?: Physiological, Personal Choice, And Normative Inquiries, Paul H. Robinson

Faculty Scholarship

It is argued here that the narrow provoked “heat of passion” mitigation available under current law ought to be significantly expanded to include not just murder but all felonies and not just “heat of passion” but potentially all emotions. The mitigation would be limited, however, to those instances in which the jury finds that a mitigation is deserved upon taking account of the extent of the internal pressure to commit the offense (the physiological inquiry), the extent of the offender’s efforts to resist that pressure (the personal choice inquiry), and the effect of giving such a mitigation on community ...


Neurohype And The Law: A Cautionary Tale, Stephen J. Morse Sep 2018

Neurohype And The Law: A Cautionary Tale, Stephen J. Morse

Faculty Scholarship

This chapter suggests that for conceptual, empirical, and practical reasons, neuroscience in general and non-invasive brain imaging in particular are not likely to revolutionize the law and our conception of ourselves, but may make modest contributions to legal policy and case adjudication if the legal relevance of the science is properly understood.


Digging Them Out Alive, Michael Millemann, Rebecca Bowman Rivas, Elizabeth Smith Sep 2018

Digging Them Out Alive, Michael Millemann, Rebecca Bowman Rivas, Elizabeth Smith

Faculty Scholarship

From 2013-2018, we taught a collection of interrelated law and social work clinical courses, which we call “the Unger clinic.” This clinic was part of a major, multi-year criminal justice project, led by the Maryland Office of the Public Defender. The clinic and project responded to a need created by a 2012 Maryland Court of Appeals decision, Unger v. State. It, as later clarified, required that all Maryland prisoners who were convicted by juries before 1981—237 older, long-incarcerated prisoners—be given new trials. This was because prior to 1981 Maryland judges in criminal trials were required to instruct the ...


The Operational And Administrative Militaries, Mark P. Nevitt Aug 2018

The Operational And Administrative Militaries, Mark P. Nevitt

Faculty Scholarship

This Article offers a new way of thinking about the military. The U.S. military’s existing legal architecture arose from tragedy: in response to operational military failures in Vietnam, the 1980 failed Iranian hostage rescue attempt and other military misadventures, Congress revamped the Department of Defense (DoD)’s organization. The resulting law, the Goldwater-Nichols Act, formed two militaries within the DoD that endure to this day. These two militaries – the operational military and the administrative military – were once opaque to the outside observer but have emerged from the shadows in light of recent conflicts. The operational military remains the ...


Kunm Interviews Jennifer Moore About Refugees, Asylum, And International Law, Jennifer Moore Aug 2018

Kunm Interviews Jennifer Moore About Refugees, Asylum, And International Law, Jennifer Moore

Faculty Scholarship

How The U.S. Ignores Immigration And Asylum Laws

By Megan Kamerick

Immigrant. Refugee. Asylum. These are words we’ve been hearing a lot this year. But what are the laws around refugees in the United States and internationally and is the U.S. following its legal obligations? On this episode of University Showcase, we talk with Professor Jennifer Moore. She's an expert on refugee law and teaches it at UNM.

Moore co-authored one of the first law school text books on refugee law. Prior to joining UNM in 1995, she worked with the United Nations High Commission on ...


Citizens United As Bad Corporate Law, Leo E. Strine Jr., Jonathan Macey Aug 2018

Citizens United As Bad Corporate Law, Leo E. Strine Jr., Jonathan Macey

Faculty Scholarship

In this Article we show that Citizens United v. FEC, arguably the most important First Amendment case of the new millennium, is predicated on a fundamental misconception about the nature of the corporation. Specifically, Citizens United v. FEC, which prohibited the government from restricting independent expenditures for corporate communications, and held that corporations enjoy the same free speech rights to engage in political spending as human citizens, is grounded on the erroneous theory that corporations are “associations of citizens” rather than what they actually are: independent legal entities distinct from those who own their stock. Our contribution to the literature ...


The Tao Of The Dao: Taxing An Entity That Lives On A Blockchain, David J. Shakow Aug 2018

The Tao Of The Dao: Taxing An Entity That Lives On A Blockchain, David J. Shakow

Faculty Scholarship

In this report, Shakow explains how a decentralized autonomous organization functions and interacts with the U.S. tax system and presents the many tax issues that these structures raise. The possibility of using smart contracts to allow an entity to operate totally autonomously on a blockchain platform seems attractive. However, little thought has been given to how such an entity can comply with the requirements of a tax system. The DAO, the first major attempt to create such an organization, failed because of a programming error. If successful examples proliferate in the future, tax authorities will face significant problems in ...


The Salience Theory Of Consumer Financial Regulation, Natasha Sarin Aug 2018

The Salience Theory Of Consumer Financial Regulation, Natasha Sarin

Faculty Scholarship

Prior to the financial crisis, banks’ fee income was their fastest-growing source of revenue. This revenue was often generated through nefarious bank practices (e.g., ordering overdraft transactions for maximal fees). The crisis focused popular attention on the extent to which current regulatory tools failed consumers in these markets, and policymakers responded: A new Consumer Financial Protection Bureau was tasked with monitoring consumer finance products, and some of the earliest post-crisis financial reforms sought to lower consumer costs. This Article is the first to empirically evaluate the success of the consumer finance reform agenda by considering three recent price regulations ...


George Stigler On His Head: The Consequences Of Restrictions On Competition In (Bank) Regulation, Prasad Krishnamurthy Aug 2018

George Stigler On His Head: The Consequences Of Restrictions On Competition In (Bank) Regulation, Prasad Krishnamurthy

Faculty Scholarship

Bank regulation used to be riddled with price, product, entry, and location restrictions. Such restrictions were intended to prevent the recurrence of crises, such as those of the 1930s and 1940s. Over time, however, regulatory acquiescence to technological and institutional innovation undermined their ability to limit competition. An intellectual turn toward valorizing competition also hastened their demise. George Stigler, in particular, provided a trenchant critique of all such regulation as the product of pure rent seeking by private industry.

This Article revisits the role ofsuch restrictions on competition in banking. On the one hand, the public choice account of these ...


The Rise Of Fiduciary Law, Tamar Frankel Aug 2018

The Rise Of Fiduciary Law, Tamar Frankel

Faculty Scholarship

Fiduciary rules appear in family law, surrogate decision-making, laws of agency, employment, pensions, remedies, banking, financial institutions, corporations, charities, not for profit organizations, medical services and international law. Fiduciary concepts guide areas of knowledge: economics, psychology; moral norms; and pluralism. Fiduciary law was recognized in Roman law and the British common law. It was embedded decades ago in religious Jewish, Christian, and Islamic laws. Internationally, fiduciary law appears in European, Chinese, Japanese and Indian laws.

What explains the expansion and predicts the future of fiduciary principles? Part One offers a short description of fiduciary relationships. Part Two describes the growth ...


Bloomberg Law Interviews Elizabeth Rapaport; Trump’S Pardons Quicker Than Obama’S, But ‘Haphazard’, Elizabeth Rapaport Jul 2018

Bloomberg Law Interviews Elizabeth Rapaport; Trump’S Pardons Quicker Than Obama’S, But ‘Haphazard’, Elizabeth Rapaport

Faculty Scholarship

Article author, Jordan S. Rubin, interviews Emeritus Professor of Law, Elizabeth Rapaport, about the political nature of President Trump's pardons.


Shareholder Collaboration, Jill E. Fisch, Simone M. Sepe Jul 2018

Shareholder Collaboration, Jill E. Fisch, Simone M. Sepe

Faculty Scholarship

Two models dominate the debate on the theory of the firm. Under the management-power model, decision-making power exclusively belongs to corporate insiders (officers and directors). The competing shareholder-power model contemplates increasing shareholder power to limit managerial authority. Both models are focused on managerial agency costs and address the appropriate allocation of power between insiders and shareholders to minimize these costs. Both models also assume that insiders and shareholders are engaged in a competitive struggle for corporate power.

Corporate practice has moved on, however. Increasingly, the insider-shareholder dynamic is collaborative, not competitive. This Article traces the development of insider-shareholder collaboration and ...


Behavioral Finance, Decumulation And The Regulatory Strategy For Robo-Advice, Tom Baker, Benedict Dellaert Jul 2018

Behavioral Finance, Decumulation And The Regulatory Strategy For Robo-Advice, Tom Baker, Benedict Dellaert

Faculty Scholarship

This working paper surveys the decumulation services offered by investment robo-advisors as a case study with which to examine regulatory and market structure issues raised by automated financial advice. We provide a short introduction to decumulation, describing some of the uncertainties involved in identifying optimal decumulation strategies and sketching a few of the ‘rules of thumb’ that financial advisors have developed in this area in the face of this uncertainty. Next we describe behavioral effects that could inhibit consumers from following an optimal decumulation strategy, concluding that, left to their own devices, consumers are likely to make sub-optimal decumulation decisions ...


Anthony Kennedy: A Most Principled Justice, Mitchell N. Berman, David Peters Jul 2018

Anthony Kennedy: A Most Principled Justice, Mitchell N. Berman, David Peters

Faculty Scholarship

After three decades on the Court, Justice Anthony Kennedy remains its most widely maligned member. Concentrating on his constitutional jurisprudence, critics from across the ideological spectrum have derided Justice Kennedy as “a self-aggrandizing turncoat,” “an unprincipled weathervane,” and, succinctly, “America’s worst Justice.” We believe that Kennedy is not as bereft of a constitutional theory as common wisdom maintains. To the contrary, this Article argues, his constitutional decisionmaking reflects a genuine grasp (less than perfect, more than rudimentary) of a coherent and, we think, compelling theory of constitutional law—the account, more or less, that one of has introduced in ...


How Liability Insurers Protect Patients And Improve Safety, Tom Baker, Charles Silver Jul 2018

How Liability Insurers Protect Patients And Improve Safety, Tom Baker, Charles Silver

Faculty Scholarship

Forty years after the publication of the first systematic study of adverse medical events, there is greater access to information about adverse medical events and increasingly widespread acceptance of the view that patient safety requires more than vigilance by well-intentioned medical professionals. In this essay, we describe some of the ways that medical liability insurance organizations contributed to this transformation, and we catalog the roles that those organizations play in promoting patient safety today. Whether liability insurance in fact discourages providers from improving safety or encourages them to protect patients from avoidable harms is an empirical question that a survey ...


The Economics Of Immigration Reform, Howard F. Chang Jul 2018

The Economics Of Immigration Reform, Howard F. Chang

Faculty Scholarship

In this article, I draw upon economic theory and recent empirical work on the economic and fiscal effects of immigration to evaluate some recent proposals for immigration reform in terms of their effects on the economic welfare of natives in the United States. In particular, I consider the Reforming American Immigration for a Strong Economy (RAISE) Act, a bill that would cut immigration to half of its current level. President Donald Trump has endorsed the RAISE Act and has insisted that many of its provisions be part of any legislation legalizing the status of unauthorized immigrants granted relief under the ...


High Crimes And Misdemeanors: A View From The #Metoo Era, Elizabeth Rapaport Jul 2018

High Crimes And Misdemeanors: A View From The #Metoo Era, Elizabeth Rapaport

Faculty Scholarship

A look at President Bill Clinton, sexual misconduct, feminism and politics within the lens of the #MeToo movement. This article builds off the authors 2001 article, "Sex and Politics at the Close of the Twentieth Century: A Feminist Looks Back at the Clinton Impeachment and the Thomas Confirmation Hearings," in Aftermath: The Clinton Impeachment and the Presidency in the Age of Political Spectacle.


Enforcing/Protection: The Danger Of Chevron In Refugee Act Cases, Maureen A. Sweeney Jul 2018

Enforcing/Protection: The Danger Of Chevron In Refugee Act Cases, Maureen A. Sweeney

Faculty Scholarship

United States immigration courts that decide asylum cases are situated within the Justice Department – a law enforcement agency deeply invested in enforcing border control – and are subordinate to the Attorney General, the nation’s politically appointed chief law enforcement officer. This institutional subjugation of immigration judges and the Board of Immigration Appeals challenges the system’s integrity and leaves people seeking protection promised by international treaty to the whims of an enforcement agency. Courts exacerbate the problem when they give Chevron deference to those Justice Department decisions rather than reviewing them rigorously. Given the prosecutorial nature of the Justice Department ...


Contemporary Practice Of The United States Relating To International Law (112:3 Am J Int'l L), Jean Galbraith Jul 2018

Contemporary Practice Of The United States Relating To International Law (112:3 Am J Int'l L), Jean Galbraith

Faculty Scholarship

This article is reproduced with permission from the July 2018 issue of the American Journal of International Law © 2018 American Society of International Law. All rights reserved.


Code Sec. 1031 After The 2017 Tax Act, Bradley T. Borden Jul 2018

Code Sec. 1031 After The 2017 Tax Act, Bradley T. Borden

Faculty Scholarship

No abstract provided.


The Case For Investor Ordering, Scott Hirst Jul 2018

The Case For Investor Ordering, Scott Hirst

Faculty Scholarship

Whether corporate arrangements should be mandated by public law or “privately ordered” by corporations themselves has been a foundational question in corporate law scholarship. State corporation laws are generally privately ordered. But a significant and growing number of arrangements are governed by “corporate regulations” created by the U.S. Securities and Exchange Commission (SEC). SEC corporate regulations are invariably mandatory. Whether they should be is the focus of this Article.

This Article contributes to the ongoing debate by showing that whether mandatory or privately-ordered rules are optimal depends on the nature of investors, and their incentives in choosing corporate arrangements ...


Non-Parties: The Negative Externalities Of Regional Trade Agreements In A Private Law Perspective, Daniela Caruso Jul 2018

Non-Parties: The Negative Externalities Of Regional Trade Agreements In A Private Law Perspective, Daniela Caruso

Faculty Scholarship

In private law theory and in international trade law alike, a new strand of scholarship has emerged in recent years. This strand is characterized by a focus on market actors who are excluded from deals struck by other parties and suffer economic hardship as a result. Scholars have also focused on doctrines and legal concepts apt to identify this type of hardship and to provide non-parties with justiciable claims and remedies. Private-law and trade-law scholars involved in this mode of research are often moved by justice concerns and by the realization that rules based solely on the enforcement of bilateral ...


Passive Investors, Jill E. Fisch, Asaf Hamdani, Steven Davidoff Solomon Jun 2018

Passive Investors, Jill E. Fisch, Asaf Hamdani, Steven Davidoff Solomon

Faculty Scholarship

The increasing percentage of the modern capital markets owned by passive investors – index funds and ETFs – has received extensive media and academic attention. This growing ownership concentration as well as the potential power of passive investors to affect both corporate governance and operational decision-making at their portfolio firms has led some commentators to call for passive investors to be subject to increased regulation and even disenfranchisement. These reactions fail to account for the institutional structure of passive investors and the market context in which they operate. Specifically, this literature assumes that passive investors compete primarily on cost and that, as ...