The trust that wasn’t

By: Paul Cella (Diary)  |  June 10th at 07:51 AM  | 

I anticipate that we will see more and more court decisions like the one described here by Yves Smith. The mortgage industry, in connivance with bankers and financiers of all shapes and sizes, introduced into the political economy, by means of innumerable frauds and sophistries, a whole field of unhedged risk: namely, the risk that the documents do not demonstrate what the securities confected out | Read More »

A Nation of Judges, Not of Laws

By: Brian Wilson (Diary)  |  February 11th at 03:37 PM  | 

There is no greater threat to the rule of law in this country than unaccountable trial judges. Although appellate judges and Supreme Court justices (both State and Federal) get more press and more publicity, the simple fact is that they actually hear an infinitesimal number of cases compared to the workload of trial judges, and even when they do, they usually only make one or | Read More »

The “Rule of Law” Requires Good Rules – Even (or Especially) in Golf

By: hogan (Diary)  |  August 16th at 11:00 AM  | 

For the golfers among us, yesterday’s final round of the PGA Championships at the demanding and beautiful Whistling Straits Golf Courts in Kohler, Wisconsin, brought not just the normal excitement but quite a bit of controversy as well. Dustin Johnson came to the 18th hole sitting on a one shot lead at 12 under par, with two guys in the clubhouse at 11 under, Bubba | Read More »