Exam Preparation Advice – Practice Practice Practice

[Editor’s Note: This month, faculty members will post on their exam taking tips. This is the first post in the series.]

If my first year of law school was any indication, first year law students are looking ahead to final exams during the coming weeks with some trepidation.  Undoubtedly one of the main sources of that trepidation is the fear of the unknown – specifically, what is the final exam going to look like and are students adequately prepared to take that exam?

Continue ReadingExam Preparation Advice – Practice Practice Practice

What I Wish I Had Known When I Started Law School, Part III

The top five things I wish I would have known when I started law school:

1)      Professors don’t bite.  When I first started law school, I thought that if I approached a faculty member outside of class (or even in class but voluntarily), my head might explode.  I eventually realized that I was missing out on a valuable opportunity to develop professional relationships with my professors that I could benefit from both during my academic career at law school as well as my professional career after law school.

2)      Not every lawyer has to be a litigator. 

Continue ReadingWhat I Wish I Had Known When I Started Law School, Part III

The Second Law of Thermodynamics and “Say on Pay”

sharris-deptofentropyIn one of his characteristically thoughtful blog postings (available here), Ed Fallone argues that market regulation follows the Second Law of Thermodynamics, which states (to paraphrase) that in any closed system, disorder will reign over time.  Ed argues that this principle holds true for federal securities regulation, where technological and market changes have made the comprehensive statutory scheme of market regulation obsolete.  With respect to non-financial institutions, he proposes (consistent with the Obama administration’s proposal) replacing our current scheme of detailed disclosure rules with regulation that focuses on the consumer (the investor), and the consumer’s need for multiple products to choose from as well as information to make product comparisons.

It does seem to make sense to consider the needs of investors in creating legislation aimed at protecting investors.  But in my view, any new regulatory scheme aimed at protecting investors should leave to the states the regulation over business organizations’ internal affairs.

Continue ReadingThe Second Law of Thermodynamics and “Say on Pay”