What Causes New Securities Regulation? 300 Years of Evidence

What causes new securities regulation? In a nutshell, crashes

Legal History and Legal Scholarship

I wish to suggest that the legal history written today is similar in one important respect to today\u27s most highly esteemed forms of conventional legal scholarship, and that this similarity is paradoxically the reason for the familiar gulf between the two. By conventional legal scholarship, I mean work appearing in law reviews that falls comfortably within the disciplinary conventions of academic law, work that does not purport to straddle the boundary between law and some other academic discipline. As I will make clear below, much of this work is not conventional in any other sense. My comparison of this sort of legal scholarship with legal history is not intended to disparage either mode of writing, or to imply that the gulf between them ought to be bridged. I aim only to describe a seldom-noticed by-product of the disciplinary self-conceptions of academic law and history, and to provide an explanation for it

Gamble v. U.S.: Brief of Amici Curiae Law Professors in Support of Petitioner

In this case currently before the U.S. Supreme Court, petitioner Gamble\u27s brief demonstrates that there was no dual sovereignty doctrine before the mid-19th century. At the Founding and for several decades thereafter, a prosecution by one sovereign was understood to bar a subsequent prosecution by all other sovereigns. Dual sovereignty is thus contrary to the original meaning of the Double Jeopardy Clause. Defendants today enjoy a weaker form of double jeopardy protection than they did when the Bill of Rights was ratified.But that fact only raises three further questions. First why did the Court erroneously conclude in Bartkus v. Illinois, 359 U.S. 121, 131 (1959), that the English and early American sources are “totally inconclusive” as to whether dual sovereignty existed at the Founding? Second, how, when, and why did the dual sovereignty doctrine come to exist? Third, given this history, why did the Court hold in United States v. Lanza, 260 U.S. 377 (1922), that a state prosecution does not bar a subsequent federal prosecution for the same conduct? This amicus brief answers these three questions.First, in Bartkus the Court simply misunderstood the English and early American sources. Second, dual sovereignty grew out of the intense controversy over slavery in the period immediately before the Civil War. The Court invented dual sovereignty largely to prevent free states from blocking the recapture of fugitive slaves. Third, by the time of Lanza, the dual sovereignty doctrine had been restated so often that the original meaning of the Double Jeopardy Clause had been forgotten. In Lanza, in any event, the Court was less concerned with original meaning than with rampant disregard for Prohibition. One purpose of dual sovereignty was to prevent “wet” localities from nullifying the Volstead Act. In short, dual sovereignty is an accident of history. It was not part of the constitutional design

Book Reviews

Book Reviews: The Great Land: How Western America Nearly Became a Russian Possession by Jeremy Atiyah ; Sacred Claims: Repatriation and Living Tradition by Greg Johnson ; Who Owns the Crown Lands of Hawai'i? by Jon M. Van Dyke ; White Enough to Be American?: Race Mixing, Indigenous People, and the Boundaries of State and Nation by Lauren L. Basson ; Colonizing Leprosy: Imperialism and the Politics of Public Health in the United States by Michelle T. Moran ; Pacific Performances: Theatricality and Cross-Cultural Encounter in the South Seas by Christopher B. Balme ; Guardian of the Sea: Jizo in Hawai'i by John R. K. Clark ; Pathways to the Present: U.S. Development and Its Consequences in the Pacific by Mansel G. Blackford ; "Whole Oceans Away": Melville and the Pacific edited by Jill Barnum, Wyn Kelley, and Christopher Sten ; Ka Mo'olelo o Hi'iakaikapoliopele: Ka Wahine i ka Hikina a ka la, ka u'i Palekoki Uila o Halema'uma'u -- The Epic Tale of Hi'iakaikapoliopele: Woman of the Sunrise, Lightning-Skirted Beauty of Halema'uma'u by Ho'oulumahiehie ; We Go Eat: A Mixed Plate From Hawai'i's Food Culture edited by Susan Yim ; The White Pacific: U.S. Imperialism and Black Slavery in the South Seas after the Civil War by Gerald Horn