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News@Law, 03/10/2016

News@Law is a selection of the day's news clips regarding Harvard Law School.
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Today's News

The New Yorker
Is Passive Investment Actively Hurting the Economy?
If you have so much as tiptoed into the arena of personal finance over the past few decades, you will have heard about the virtues of passive investing. ...In a discussion paper written last year, Einer Elhauge, a law professor at Harvard University, found that index-fund ownership was having a similar effect in the airline industry, where nearly eighty per cent of all stocks are owned by a handful of investors. Elhauge argues that institutional investors with an emphasis on index funds, such as Vanguard and Fidelity, are playing an outsized role in the sector, and that their rapid adoption is accelerating ownership concentration, resulting in higher prices for travellers. “Alone, index funds are not enough, but they are growing like gangbusters,” he explained in an interview.
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WGBH
Apple’s Conflict With The FBI Over Unlocking An iPhone Is A ‘Bellwether’, Not The ‘Case Of The Century’
I had expected fireworks—or at least strong disagreements—when Internet privacy advocate Jonathan Zittrain and former CIA director John Deutsch debated the impasse between Apple and the FBI over a locked iPhone used by one of the San Bernardino shooters. Instead, the two men offered nuance and a rough if imperfect consensus over how much access we should have to technologies that allow us to encrypt our personal data in ways that place it beyond the government’s reach. “Many other paths to data are available. We are exuding data all over the place,” said Zittrain, a professor at Harvard Law School and the author of The Future of the Internet—And How to Stop It. “The FBI has chosen this case … in large part, I think, because there is so little privacy interest on the other side.”
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Bloomberg
The Constitution Rules. (Not Valid in Puerto Rico.)
An op-ed by Noah Feldman. A federal judge in Puerto Rico ruled Tuesday that the Supreme Court’s decision in favor of gay marriage doesn't apply on the island, which is a commonwealth with a unique constitutional status. The ruling will eventually be reversed on appeal. But its effect is meaningful nonetheless, because it functions as a double protest: against the high court's support for gay marriage and against the unresolved constitutional status of the island.
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Bloomberg
The Dark Side of All Those ‘Friends’ at the Supreme Court
An op-ed by Noah Feldman. Filing a friend-of-the-court brief to the Supreme Court sounds like an act of spontaneous intellectual generosity meant to help the justices see all sides of a case. Or maybe an exercise in lobbying by interest groups. Actually, it's neither. A new article by two law professors shows that an organized business they dub the “amicus machine” generates hundreds of amicus curiae briefs, planned and coordinated by the specialized guild of lawyers who argue before the court. Surprisingly, the authors think the machine is a good thing.
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JDJournal
“2016 Go-To Law Schools” List Released, Columbia Law Prevails Again
This week, The National Law Journal released its 2016 list of law schools that send the most graduates to the 100 largest firms, and Columbia led the pack. With 220 of its 2015 graduates becoming first year BigLaw associates, this is the third straight year the New York Ivy Leaguer won the title...The 2015 list does not include graduates who went on to complete judicial clerkships. This could explain Yale Law School, Stanford Law School, and Harvard Law School’s lower rankings on the list. Mark Weber, assistant dean of career services at Harvard Law, said that the school produces a large amount of judicial clerks who later move into big law firms. He maintains that law firm recruiting is up at Harvard Law.
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