On one level, Miriam Baer’s fascinating article, Sorting Out White-Collar Crime,[2] is a paper about why and how Congress ought to statutorily distinguish lower-level federal fraud offenses. On another, it raises a broader question: how should federal criminal justice institutions acknowledge and respond to a latent feature of federal fraud enforcement, namely, the divergence between […] Continue Reading >
Modern finance theory and investment practice have shifted toward “passive investing.” The current consensus is that most savers should invest in mutual funds or ETFs that are (i) well-diversified, (ii) low-cost, and (iii) expose their portfolios to age-appropriate stock market risk. The law governing trustees, investment advisers, broker–dealers, 401(k) plan managers, and other investment fiduciaries […] Continue Reading >
When insisting that the Sedition Act of 1798 violated the First Amendment, Jeffersonian Republicans cast their argument in historical terms, claiming that the Speech and Press Clauses eliminated any federal power to restrict expression. Scholars, in turn, have generally accepted that Republicans had a consistent understanding of the First Amendment throughout the 1790s. But Founding […] Continue Reading >