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The Importance Of Cost-Benefit Analysis In Financial Regulation, Paul Rose, Christopher J. Walker
The Importance Of Cost-Benefit Analysis In Financial Regulation, Paul Rose, Christopher J. Walker
Christopher J. Walker
This report reviews the role, history, and application of cost-benefit analysis in rulemaking by financial services regulators.
For more than three decades — under both Democratic and Republican administrations — cost-benefit analysis has been a fundamental tool of effective regulation. There has been strong bipartisan support for ensuring regulators maximize the benefits of proposed regulations while implementing them in the most cost-effective manner possible. In short, it is both the right thing to do and the required thing to do.
Through the use of cost-benefit analysis in financial services regulation, regulators can determine if their proposals will actually work to …
Three-Dimensional Sovereign Immunity, Sarah L. Brinton
Three-Dimensional Sovereign Immunity, Sarah L. Brinton
Sarah L Brinton
The Supreme Court has erred on sovereign immunity. The current federal immunity doctrine wrongly gives Congress the exclusive authority to waive immunity (“exclusive congressional waiver”), but the Constitution mandates that Congress share the waiver power with the Court. This Article develops the doctrine of a two-way shared waiver and then explores a third possibility: the sharing of the immunity waiver power among all three branches of government.
Deciding Who Decides: Searching For A Deference Standard When Agencies Preempt State Law, John R. Ablan
Deciding Who Decides: Searching For A Deference Standard When Agencies Preempt State Law, John R. Ablan
John R Ablan
When a federal agency determines that the statute that it administers or regulations it has promulgated preempt state law, how much deference must a federal court give to that determination? In Wyeth v. Levine, the Supreme Court expressly declined to decide what standard of deference courts should apply when an agency makes a preemption determination pursuant to a specific congressional delegation to do so. Under this circumstance, this Article counsels against applying any single deference standard to an agency’s entire determination. Instead, it observes that preemption determinations are a complex inquiry involving questions of federal law, state law, and …
How To Win The Deference Lottery, Christopher J. Walker
How To Win The Deference Lottery, Christopher J. Walker
Christopher J. Walker
In response to Jud Mathews, Deference Lotteries, 91 Texas Law Review 1349 (2013).
In Deference Lotteries, Jud Mathews proposes that the deference framework in administrative law be viewed through the game theory lens of a lottery. Such an approach helps us think critically about how varying standards of review may affect the behavior of agencies and courts engaged in the judicial review process. This Response suggests that the lottery lens can also help agencies think more strategically about how to develop and defend interpretations of statutes they administer. Assuming the validity of the lottery framework, the Response suggests a playbook …