Vol. 115
The poison put is a contractual innovation that grants debtholders an option to redeem their debt upon the occurrence of a predefined trigger. While certain poison puts can be justified in light of Delaware corporate law’s deference to directors, one particular class of poison puts is more troubling from a corporate governance perspective: those triggered by a turnover...
As a condition of access to classified information, most employees of the U.S. intelligence community are required to sign nondisclosure agreements that mandate lifetime prepublication review. In essence, these agreements require employees to submit any works that discuss their experiences working in the intelligence community—whether written or oral, fiction...
Across the First Amendment, the distinction between for-profit businesses and nonprofit organizations is in trouble. In recent years, courts have rejected this distinction in the context of free-speech challenges to campaign-finance restrictions and free-exercise claims to obtain legal exemptions from health-care regulations. Although there is a great deal of popular...
By “pooling” legal and other resources allocated to different agencies, the executive creates joint structures capable of ends that no single agency could otherwise achieve. Pooling destabilizes core conceptions of administrative law. According to one influential account, for example, Congress exercises control over the bureaucracy through agency design. Pooling,...
The past decade has witnessed dramatic changes in public attitudes about and legal status for same-sex couples who wish to marry. These changes demonstrate that the legal conception of the family is no longer limited to traditional marriage. They also raise the possibility that other relationships—cohabiting couples and their children, voluntary kin groups, multigenerational...
Criminal discovery reform has accelerated in recent years, triggered in part by the prosecution’s widely perceived failure to abide by its constitutional obligation, articulated in Brady v. Maryland, to disclose exculpatory evidence. Practitioners and academics, disillusioned by the Supreme Court’s hands-off approach, have sought reform along three axes:...
Since its formation, the Commodity Futures Trading Commission (CFTC) has taken a hands-off approach with respect to its oversight of the futures industry. It has relied on self-regulatory organizations (SROs)—namely, exchanges such as the Chicago Mercantile Exchange and associations such as the National Futures Association (NFA). The Dodd–Frank Act (Dodd–Frank),...