BLOG.JMHAMILTONPUBLISHING.COM: Category Archive for Law

Deutsche Bank AG won dismissal of two lawsuits in which investors in residential mortgage-backed securities accused the bank of selling them securitized loans it internally disparaged as “crap.”

Posted by J.M. Hamilton Blog at 2/8/2012 7:53 PM | Add Comment

Obama & Citizens United: Surrendering principles, or living again to fight another day for those Principles?

Posted by J.M. Hamilton Blog at 2/8/2012 7:02 AM | Add Comment

The three-judge panel issued its ruling in San Francisco

Posted by J.M. Hamilton Blog at 2/8/2012 6:55 AM | Add Comment

Judge Rakoff even posed for a photograph in Vanity Fair, which is featured in the current newsstand issue with a brief write-up on the judge.

Posted by J.M. Hamilton Blog at 2/7/2012 7:59 PM | Add Comment

“But for 2012,” Mr. Messina said, “our campaign has to face the reality of the law as it currently stands.”

Posted by J.M. Hamilton Blog at 2/7/2012 7:01 AM | Add Comment

The way these cases developed and made their way to the highest court also illustrates the reverse — how politics shape the court.

Posted by J.M. Hamilton Blog at 2/5/2012 8:22 AM | Add Comment

The clause may have run into legal trouble even if Carlyle had not changed its mind.

Posted by J.M. Hamilton Blog at 2/3/2012 7:24 PM | Add Comment

“English criminal law limits what we can say about this incident.”

Posted by J.M. Hamilton Blog at 1/30/2012 6:42 PM | Add Comment

"Recently I’ve seen a phenomenon that I don’t remember seeing before, and that’s angry jurors."

Posted by J.M. Hamilton Blog at 1/30/2012 6:18 PM | Add Comment

U.S. Attorney General Eric Holder and Lanny Breuer, head of the Justice Department's criminal division, were partners for years at a Washington law firm that represented a Who's Who of big banks

Posted by J.M. Hamilton Blog at 1/26/2012 6:01 AM | Add Comment

This is not Justice Gableman’s first ethical breach.

Posted by J.M. Hamilton Blog at 1/25/2012 7:08 AM | Add Comment

In Citizens United, the conservative majority turned itself into a copper kings’ court

Posted by J.M. Hamilton Blog at 1/24/2012 6:51 AM | Add Comment

A Constitutional Amendment creating 18-year terms staggered every 2 years, so that each of the nine Justices would be replaced in order of seniority every other year.

Posted by J.M. Hamilton Blog at 1/23/2012 6:41 PM | Add Comment

“The grass roots they can generate is, frankly, concerning,” Cary Sherman, chairman and chief executive of the Recording Industry Association of America, said of the Internet community.

Posted by J.M. Hamilton Blog at 1/22/2012 7:16 AM | Add Comment

The justices chastised the San Antonio court for not showing enough deference to the Texas plan, but there is clear evidence that it embodies what the Justice Department in the Section 5 lawsuit calls “intentional discrimination” — and should not be allow

Posted by J.M. Hamilton Blog at 1/21/2012 8:57 AM | Add Comment

The new maps, Professor Hasen said, would “favor Republicans over Democrats” as compared with the lower court’s original maps.

Posted by J.M. Hamilton Blog at 1/20/2012 8:21 PM | Add Comment

Perhaps the Roberts Court, and Fellow Republicans, Regret the Citizens United Decision?

Posted by J.M. Hamilton Blog at 1/17/2012 6:41 PM | Add Comment

“Even his adversaries admire and like him — even while he’s beating our brains in.”

Posted by J.M. Hamilton Blog at 1/13/2012 7:30 PM | Add Comment

Citizens United Backfires on Republicans....? Thank you Roberts Court!

Posted by J.M. Hamilton Blog at 1/13/2012 7:08 AM | Add Comment

Citizens United Backfires on Republicans....? Thank you Roberts Court!

Posted by J.M. Hamilton Blog at 1/13/2012 7:02 AM | Add Comment

Conservatives can partially thank the Supreme Court and specifically Anthony Kennedy, the swing vote on the court that decided the 2010 Citizens United case.

Posted by J.M. Hamilton Blog at 1/9/2012 5:31 PM | Add Comment

“This is a big deal,” said Professor Alex Colvin, an expert on mandatory arbitration agreements who teaches at the Cornell School of Industrial and Labor Relations.

Posted by J.M. Hamilton Blog at 1/7/2012 8:02 AM | Add Comment

U.S. District Court Judge Jed Rakoff cited that policy last month when he rejected the agency’s proposed $285 million settlement with Citigroup Inc.

Posted by J.M. Hamilton Blog at 1/6/2012 8:14 PM | Add Comment

The Securities and Exchange Commission said on Friday that it was making a major change in how it settles some securities fraud cases, telling companies that they will no longer be allowed to neither admit nor deny the commission’s civil charges

Posted by J.M. Hamilton Blog at 1/6/2012 8:03 PM | Add Comment

“Privacy is an emerging tort in this country and there have only been a few cases that have gone to a full judgment.”

Posted by J.M. Hamilton Blog at 1/6/2012 6:49 AM | Add Comment

It is disingenuous for him (Chief Justice Roberts) to claim that “no compilation of ethical rules can guarantee integrity” when no code currently applies to the court.

Posted by J.M. Hamilton Blog at 1/6/2012 6:24 AM | Add Comment

DEMOCRACY FOR SALE: There are no limits to the dollars involved, and no accountability for the candidates those dollars are buying.

Posted by J.M. Hamilton Blog at 1/3/2012 7:07 AM | Add Comment

In the name of maintaining stability, the interception and detention of petitioners seems perfectly reasonable, and higher-ups look the other way.

Posted by J.M. Hamilton Blog at 1/2/2012 5:50 AM | Add Comment

“I have complete confidence in the capability of my colleagues to determine when recusal is warranted,” Chief Justice Roberts wrote.

Posted by J.M. Hamilton Blog at 1/1/2012 6:57 AM | Add Comment

“It’s true that the church doesn’t have a First Amendment right to have a government contract,” he said, “but it does have a First Amendment right not to be excluded from a contract based on its religious beliefs.”

Posted by J.M. Hamilton Blog at 12/28/2011 7:35 PM | Add Comment

U.S. District Judge Robert Gettleman in Chicago approved the AIG settlement on Dec. 21, calling it “fair, reasonable, and adequate.”

Posted by J.M. Hamilton Blog at 12/28/2011 7:20 PM | Add Comment

“The question remains whether a reasonable investor would have viewed the nondisclosed information ‘as having significantly altered the ‘total mix’ of information made available.’”

Posted by J.M. Hamilton Blog at 12/22/2011 6:06 PM | Add Comment

Attorney General Eric H. Holder Jr. said the settlement showed that the Justice Department would “vigorously pursue those who would take advantage of certain Americans because of their race, national origin, gender or disability.”

Posted by J.M. Hamilton Blog at 12/22/2011 7:23 AM | Add Comment

“It’s an important victory for Apple, but it’s just one of many battles.”

Posted by J.M. Hamilton Blog at 12/20/2011 6:37 AM | Add Comment

“Judicial supremacy is factually wrong, it is morally wrong, and it is an affront to the American system of self-government,” Mr. Gingrich

Posted by J.M. Hamilton Blog at 12/20/2011 6:32 AM | Add Comment

“Fannie Mae and Freddie Mac executives told the world that their subprime exposure was substantially smaller than it really was,” Robert Khuzam

Posted by J.M. Hamilton Blog at 12/17/2011 7:41 AM | Add Comment

In a court hearing in September, Mr. Adoboli’s lawyer said his client was “sorry beyond words for what had happened”

Posted by J.M. Hamilton Blog at 12/16/2011 7:17 PM | Add Comment

The SEC must appeal Judge Rakoff's Decison... Failure to do so and succeed, would draw attention to how woefully lacking the Bank Enforcement Laws are in the U.S. - J.M.H.

Posted by J.M. Hamilton Blog at 12/15/2011 8:38 PM | Add Comment

Dec. 15 (Bloomberg) -- Kelly Saindon, an attorney at Belongia Shapiro & Franklin LLP, talks about this week's congressional testimony by former MF Global Holdings Ltd

Posted by J.M. Hamilton Blog at 12/15/2011 8:28 PM | Add Comment

“We have to have the jurisdictions to tie to the addresses before we can even think about holding an election. We’re at a standstill."

Posted by J.M. Hamilton Blog at 12/15/2011 6:38 AM | Add Comment

"But here’s the rub: By taking this doctrine too far, the S.E.C. has undermined its negotiating position."

Posted by J.M. Hamilton Blog at 12/14/2011 7:02 PM | Add Comment

In agreeing to settle the case, Bear Stearns paid $160 million in disgorgement and $90 million in civil penalties.

Posted by J.M. Hamilton Blog at 12/14/2011 6:46 PM | Add Comment

"Very Vague"

Posted by J.M. Hamilton Blog at 12/13/2011 8:00 PM | Add Comment

The rule change would also have prevented MF Global from engaging in so-called repo transactions -- short-term secured financings with institutional investors -- with other Wall Street firms.

Posted by J.M. Hamilton Blog at 12/12/2011 7:39 PM | Add Comment

“We’re certainly hopeful we’ll reach an agreement by Christmas, but there are no guarantees.”

Posted by J.M. Hamilton Blog at 12/12/2011 7:37 PM | Add Comment

For years, law firms told their corporate clients to make use of Chapter 11 bankruptcy—which allows businesses to liquidate, reorganize or sell themselves without fearing creditors.

Posted by J.M. Hamilton Blog at 12/12/2011 7:25 PM | Add Comment

"At least a segment of the Republican Party is trying to keep the growing Hispanic electorate from negatively impacting their power in the state for as long as possible.”

Posted by J.M. Hamilton Blog at 12/12/2011 6:32 AM | Add Comment

Or if they lacked the votes to impeach, they could abolish the judges’ seats. Mr. Gingrich is already naming names to stir his faction.

Posted by J.M. Hamilton Blog at 12/11/2011 6:32 AM | Add Comment

The Tokyo Interbank Offered Rate, or Tibor

Posted by J.M. Hamilton Blog at 12/9/2011 6:36 PM | Add Comment

“Antitrust conditions should not be allowed to endanger the industry and economic logic of this transformational merger.”

Posted by J.M. Hamilton Blog at 12/8/2011 7:48 PM | Add Comment

“In much of the world, propaganda reigns, and truth is confined to secretive, fearful whispers,” he wrote.

Posted by J.M. Hamilton Blog at 12/7/2011 8:14 PM | Add Comment

“Her nomination fell victim to the Republican pattern of obstructionism that puts party ahead of country,” Mr. Obama said.

Posted by J.M. Hamilton Blog at 12/7/2011 7:13 AM | Add Comment

If anyone thought that you couldn’t have your cake and eat it too in the world of finance, MF Global shows how you can have your cake, eat it, eat someone else’s cake and then let your clients pick up the bill

Posted by J.M. Hamilton Blog at 12/6/2011 7:40 PM | Add Comment

FINRA was formed in 2007 from the consolidation of the National Association of Securities Dealers (NASD) and member regulation, enforcement and arbitration operations of the New York Stock Exchange.

Posted by J.M. Hamilton Blog at 12/6/2011 7:38 PM | Add Comment

“I believe that this rule is critical for the safeguarding of customer money,” Gary Gensler, the agency chairman, said at a public meeting in Washington.

Posted by J.M. Hamilton Blog at 12/5/2011 8:09 PM | Add Comment

"Let’s stipulate that the behavior of Citigroup and its executives is every bit as bad as the agency alleges."

Posted by J.M. Hamilton Blog at 12/5/2011 8:05 PM | Add Comment

The Supreme Court held in 2004 that it is necessary to show actual damages in a lawsuit under the Privacy Act but did not say whether nonmonetary harm like emotional distress comes under that heading

Posted by J.M. Hamilton Blog at 12/3/2011 11:34 AM | Add Comment

With bond markets shut and investors still wary of asset-backed securities, many banks have become increasingly reliant on the repo markets

Posted by J.M. Hamilton Blog at 12/1/2011 7:55 PM | Add Comment

NEWS FROM SIGTARP

Posted by J.M. Hamilton Blog at 12/1/2011 7:48 PM | Add Comment

This failure undermines the court’s reputation.

Posted by J.M. Hamilton Blog at 12/1/2011 7:04 AM | Add Comment

"Judge Rakoff blew a big hole in that practice yesterday."

Posted by J.M. Hamilton Blog at 11/29/2011 8:38 PM | Add Comment

The crucial question is whether Judge Rakoff’s decision could lead to an end to the S.E.C.’s policy of settling its cases without any admission of liability by the defendant

Posted by J.M. Hamilton Blog at 11/29/2011 8:20 PM | Add Comment

"Judge Jed Rakoff is furious. He should be. We all should be."

Posted by J.M. Hamilton Blog at 11/29/2011 7:11 AM | Add Comment

BEST NEWS ALL DAY: The S.E.C. in particular, he added, “has a duty, inherent in its statutory mission, to see that the truth emerges.”

Posted by J.M. Hamilton Blog at 11/28/2011 8:30 PM | Add Comment

As Ferdinand Pecora, the Depression-era prosecutor, is supposed to have said of the events leading to the Wall Street crash of 1929: Pitch darkness was among the bankers’ stoutest allies.

Posted by J.M. Hamilton Blog at 11/28/2011 8:27 PM | Add Comment

“Concentrated markets lack competitive balance; they give powerful players the ability to restrain competition and consumer choice.” -Kansas Attorney General Derek Schmidt,Republican

Posted by J.M. Hamilton Blog at 11/23/2011 1:47 PM | Add Comment

That outcome has added a new twist to a long-running friction in the politics of judicial nominations.

Posted by J.M. Hamilton Blog at 11/23/2011 1:28 PM | Add Comment

And the motion is officially denied.

Posted by J.M. Hamilton Blog at 11/23/2011 1:24 PM | Add Comment

The CME Group also increased a guarantee it had offered the trustee in case there was a shortfall as customers received their money.

Posted by J.M. Hamilton Blog at 11/23/2011 1:22 PM | Add Comment

On Monday, the court-appointed trustee overseeing the liquidation of MF Global estimated that the shortfall could now exceed $1.2 billion.

Posted by J.M. Hamilton Blog at 11/22/2011 2:36 PM | Add Comment

"This is the reason why all of these settlements allowing banks to walk away without 'admissions of wrongdoing' are particularly insidious."

Posted by J.M. Hamilton Blog at 11/17/2011 11:20 PM | Add Comment

As an example, the investment bank Robbin & Steelin has a portfolio with another investment bank, Engulf & Devour.

Posted by J.M. Hamilton Blog at 11/17/2011 10:52 PM | Add Comment

The justices will hear two hours of argument on whether Congress overstepped its constitutional authority, 90 minutes on whether the mandate may be severed from the balance of the law if Congress did go too far...

Posted by J.M. Hamilton Blog at 11/14/2011 7:50 PM | Add Comment

The more the attorney general’s office investigated, the more victims it found.

Posted by J.M. Hamilton Blog at 11/11/2011 6:33 AM | Add Comment

“Today is one of those ‘losing faith in the justice system’ kind of days,” Mr. Appelbaum wrote on Twitter.

Posted by J.M. Hamilton Blog at 11/11/2011 6:31 AM | Add Comment

The Justice Department contacted Mr. Becker’s lawyer last Thursday to say that the department was not opening an investigation into the matter, said William R. Baker III

Posted by J.M. Hamilton Blog at 11/9/2011 7:06 PM | Add Comment

"Why should the court impose a judgment in a case in which the SEC alleges a serious securities fraud, but the defendant neither admits nor denies wrongdoing?"

Posted by J.M. Hamilton Blog at 11/9/2011 7:00 PM | Add Comment

“I don’t think you’ll finds too many district attorneys who disappear,” said Ken Main

Posted by J.M. Hamilton Blog at 11/9/2011 6:20 AM | Add Comment

“It’s like a cop giving out warnings instead of giving tickets.”

Posted by J.M. Hamilton Blog at 11/8/2011 5:57 AM | Add Comment

“Mirror Worlds may have painted an appealing picture for the jury,” Judge Davis wrote, “but it failed to lay a solid foundation sufficient to support important elements it was required to establish under the law.”

Posted by J.M. Hamilton Blog at 11/5/2011 7:45 AM | Add Comment

Like much of New York’s white-collar defense bar, Mr. Levander is a former federal prosecutor in Manhattan.

Posted by J.M. Hamilton Blog at 11/4/2011 4:55 PM | Add Comment

“We’re making no advice on that,” Rankin said. “A lot of the people believe they did absolutely nothing wrong and they want to prove that in court.”

Posted by J.M. Hamilton Blog at 11/4/2011 7:33 AM | Add Comment

“There’s people here who weren’t working before who are working now and are living in apartments and buying cars,” he said. “Now they have hope for the future.”

Posted by J.M. Hamilton Blog at 11/4/2011 7:28 AM | Add Comment

For the second time this year, a federal judge has barred a court-appointed bankruptcy trustee from seeking billions in damages from big banks

Posted by J.M. Hamilton Blog at 11/2/2011 5:26 AM | Add Comment

My advice: "Remember Andrey Hicks."

Posted by J.M. Hamilton Blog at 10/29/2011 8:44 AM | Add Comment

It may not be in the Republicans’ best interests to have a sober national debate about this issue, which may well be why the G.O.P. contenders are sticking to red-meat throwaway lines.

Posted by J.M. Hamilton Blog at 10/29/2011 8:36 AM | Add Comment

Though he is one of 40 federal judges in Manhattan, Judge Rakoff has been ubiquitous of late.

Posted by J.M. Hamilton Blog at 10/27/2011 6:59 PM | Add Comment

Prosecutors said Gupta tipped Rajaratnam, who sold Galleon’s position in Goldman Sachs, warding off millions of dollars in losses.

Posted by J.M. Hamilton Blog at 10/26/2011 7:11 PM | Add Comment

On Wednesday, the S.E.C. filed a civil complaint against Mr. Gupta and Mr. Rajaratnam, alleging an “extensive insider trading scheme.”

Posted by J.M. Hamilton Blog at 10/26/2011 7:04 PM | Add Comment

“If the merger goes through, it will tip the market toward duopoly."

Posted by J.M. Hamilton Blog at 10/25/2011 6:29 PM | Add Comment

Credit Suisse, the second-biggest Swiss bank, said July 15 that it was a target of U.S. prosecutors.

Posted by J.M. Hamilton Blog at 10/24/2011 6:07 AM | Add Comment

"The ruling violates basic principles of justice and the logic of the law."

Posted by J.M. Hamilton Blog at 10/24/2011 5:52 AM | Add Comment

In April, he started a separate probe into Goldman Sachs Group Inc. (GS), JPMorgan Chase & Co. (JPM) and 14 other investment banks over agreements in the market for credit-default swaps that may harm competition.

Posted by J.M. Hamilton Blog at 10/19/2011 6:13 AM | Add Comment

“Position limits help to protect the markets both in times of clear skies and when there is a storm on the horizon,” Gary Gensler, the agency’s chairman, said at a public meeting in Washington.

Posted by J.M. Hamilton Blog at 10/18/2011 6:51 PM | Add Comment

THERE THEY GO AGAIN: "In recent weeks, the deepest divide centered on provisions that spelled out how regulators would enforce the Volcker Rule. One idea would require bank executives to promise compliance."

Posted by J.M. Hamilton Blog at 10/17/2011 5:51 PM | Add Comment

“The FSA’s illegal use of legally privileged material is only one in a long catalogue of abuses in its handling of its investigation into Keydata”.

Posted by J.M. Hamilton Blog at 10/12/2011 4:19 PM | Add Comment

Linn State Technical College in Linn, Mo., informed students this semester that they would be required to submit to a urine test that would be checked for illegal drugs as a condition of studying at the college.

Posted by J.M. Hamilton Blog at 10/11/2011 6:03 AM | Add Comment

Say it isn't so... Koch Bros.: “You feel totally betrayed,” Bentu says. “Everything Koch stood for was a lie.”

Posted by J.M. Hamilton Blog at 10/2/2011 6:53 PM | Add Comment

Scalia, confident in his own infallibility, dissented.

Posted by J.M. Hamilton Blog at 10/2/2011 5:56 AM | Add Comment

“The takeaway for both individual investors and institutions is to always have a skeptical eye when looking at ratings agencies.”

Posted by J.M. Hamilton Blog at 10/1/2011 6:46 AM | Add Comment

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