BU Law emerita professor Tamar Frankel argues that while private ordering—that is, rules of behavior without the backup of law—works well in some situations, such as among diamond traders and farmers, it cannot work in other situations, including the financial system. Frankel provides a brief review of the literature on private ordering and explains why the financial system cannot work under this model, and indeed why applying it would cause dangerous trends and damaging consequences.
BU Law emerita professor Tamar Frankel comments on the renewed importance of the repealed Glass-Steagall Act which Congress passed after the failure of the financial system in the 1920s. Frankel argues that the alarming path of Wells Fargo Bank supports imposing regulations on banks similar to those levied by the Glass-Steagall Act.
Cornell law professor Sherry F. Colb considers the significance in policing “original” meanings of words, such as “meat” and “marriage.” She point out that in both contexts, arguments over the meaning of the word are rooted in strong feelings about status and do not truly reflect a concern with a risk of confusion.
BU Law emerita professor Tamar Frankel discusses Ponzi schemes, explaining how they work and why the con artists are able to deceive victims. Frankel also describes what we might learn from studying con artists and their victims.
BU Law emerita professor Tamar Frankel explains why state regulatory bodies should impose fiduciary duties on broker-dealers, whose services involve both “sales talk” and the managing of securities of investors who often lack knowledge or expertise of the transactions. Frankel reiterates points she made during testimony before the New Jersey Bureau of Securities and makes the case for the long-overdue regulation of broker-dealers as fiduciaries.
Cornell law professor Michael C. Dorf anticipates the possible next steps in the federal government’s lawsuit against California over the state’s new law mandating net neutrality. Dorf explains why, if conservative scholars and Supreme Court justices succeed in what seems to be their goal of weakening federal regulatory agencies, that could ironically be a boon to net neutrality and to government regulation more broadly.
Cornell law professor Michael C. Dorf explains why the FDA’s recent announcement that it intends to restrict the word “milk” on food labels may present First Amendment issues. Dorf points to the US Supreme Court’s decision last year in Matal v. Tam—which rejected the Patent and Trademark Office’s denial of a trademark to a band on the ground that the name was offensive—as evidence of the Court’s skepticism about the government making ideological judgments in the grant or denial of rights to exclusive use of a word.
Guest columnists Antonio G. Sepulveda, Henrique Rangel, and Igor De Lazari comment on a recent decision by the U.S. Supreme Court that a New York law prohibiting merchants from imposing a surcharge for payment by credit card constitutes a regulation of speech, and they compare the Court’s treatment of the law as regulating speech with Brazil’s historic treatment of similar laws in that country as protecting consumers.
University of Washington law professor Anita Ramasastry discusses “Greyball,” a private tool Uber reportedly used to identify government inspectors and prevent them from hailing a ride. Ramasastry explains the dangers inherent in allowing minimally regulated private companies such as Uber to have such great power over integral services like transportation, and she calls for greater scrutiny into businesses with such significant market power.
University of Illinois law professor and dean Vikram David Amar discusses an upcoming Supreme Court case in which the Court will consider to what extent consumer contracts that require disputes to be resolved by binding arbitration, rather than through formal litigation, are enforceable.
University of Washington law professor Anita Ramasastry discusses a new type of mobile app that maps illness in much the same way other apps map weather patterns and warns of the privacy implications these apps pose.
University of Washington law professor Anita Ramasastry discusses a proposal tentatively approved by the U.S. Department of Transportation that would allow airlines to collect consumers’ personal data for the purpose of personalizing fare quotes. Ramasastry cautions that the proposal has significant privacy and discrimination risks and that we need more information, more transparency, and better safeguards before proceeding with it.
University of Washington law professor Anita Ramasastry discusses a new company called Shuddle, which bills itself as an Uber-like car service for transporting children from place to place. Ramasastry describes some of the security and privacy issues Shuddle raises and compares it to other companies offering similar services.
University of Washington law professor Anita Ramasastry discusses privacy issues raised the way companies such as Uber use consumers’ geolocation data.
Hewlett Packard (HP) has unveiled a new mobile app that retailers can use to stalk people as they shop, to send them targeted ads and promotions. Called SmartShopper, it was unveiled at the Interop conference in Las Vegas at the end of March. It has the ability to send location-based smartphone offers to customers’ iPhones in real time. Promoted by Meg Whitman, CEO of HP, as a way for retailers to monetize their networks and build “tighter relationships with their customers,” this is not the first time that so-called stalker apps have been in the news as being intrusive of consumer privacy. Here, Justia columnist and U. Washington law professor Anita Ramasastry looks at two recent examples of so-called stalker-shopper apps, and legislative attempts to address these new ways of tracking our movements and behavior.
Justia columnist and U. Washington law professor Anita Ramasastry comments on recent headlines that caused a panic in the Bitcoin and cryptocurrency world: The largest Bitcoin exchange, Mt. Gox, was reporting a loss of nearly 750,000 Bitcoins currency units. (Prominent Bitcoin blogger Ryan Selkis made a post to his blog in which he described an unverified report of the loss.) This figure would be worth above $400 million at current prices. As of now, Mt. Gox, which is incorporated in Japan, has filed for insolvency protection there. Ramasastry comments on key events, and possible future reforms that could be put in place so that this situation does not recur.
Justia columnist and U.Washington law professor Anita Ramasastry comments on the question whether Bitcoin—a so-called virtual peer-to-peer currency—should be regulated by the U.S. and/or States within it. (Along with the Treasury Department, California and New York are also contemplating possible legal or regulatory measures regarding Bitcoin.) Ramasastry looks at recent attempts to extend legal recognition to Bitcoin, and explains why she believes this is a good thing. She adds that while it may be good to clarify that legitimate businesses and consumers may use Bitcoin, it may be too early now to determine what, if any, further measures are needed to provide consumers with needed safety with respect to their Bitcoins.
Justia columnist and former counsel to the President John Dean continues his series of columns regarding the monitoring of Apple that is connected to an antitrust action. Dean takes sharp issue regarding both how the monitoring is being done, and the costs that are being imposed on Apple as a result.
Justia columnist and U. Washington law professor Anita Ramasastry comments on a possible regulatory issue regarding Spokeo, which bills itself as a people-finder service. Spokeo warns subscribers that they cannot use its information to make decisions about a person’s employment, to make a credit determination, or to put the information to uses that would be covered by a federal law known as the Fair Credit Reporting Act (FCRA). But as a recent lawsuit illustrates, Spokeo’s data may be being used for such purposes, regardless, raising the possibility of the need for better safeguards.