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The New York Times
Deutsche Bank as Next Lehman Brothers: Far-Fetched but Not Unthinkable
All it took was the threat of a $14 billion fine against Deutsche Bank for the word “contagion” to rear its ugly head. Global markets have been shaken up in recent weeks over fears that Deutsche Bank, a symbol of German financial might and Europe’s fourth-largest biggest bank by assets, cannot absorb a fine of that magnitude. The German government said flatly that it would not bail out the bank, leading to what some called market “panic” that Deutsche Bank could face a messy Lehman Brothers-style collapse and set off a global financial crisis...Those fears seem wildly overblown. “The bottom line is, I think the Deutsche Bank issues will be resolved and there won’t be any contagion episode,” said Hal S. Scott
, a professor at Harvard Law School and the author of the recent book “Connectedness and Contagion.” “But it’s a wake-up call. Are we prepared if this ever happens again? The answer is ‘no.’” Professor Scott defines “contagion” as “an indiscriminate run by short-term creditors of financial institutions that can render otherwise solvent institutions insolvent because of the fire sale of assets that are necessary to fund withdrawals and the resulting decline in asset prices triggered by such sales.” He calls such contagion “the most virulent and systemic risk still facing the financial system today.”
The Washington Post
Facebook is talking to the White House about giving you ‘free’ Internet. Here’s why that may be controversial.
Facebook has been in talks for months with U.S. government officials and wireless carriers with an eye toward unveiling an American version of an app that has caused controversy abroad, according to multiple people familiar with the matter...U.S. Internet advocates have called on the Federal Communications Commission to regulate zero-rating under its net neutrality rules. The practice, they argue, risks tilting the online marketplace to benefit large, established firms, or the corporate partners of those firms. “Zero-rating is pernicious, unfair and unnecessary,” said Susan Crawford
, a law professor at Harvard who has advocated for strong regulation of the broadband industry. Permitting the practice would simply enable “the gameplaying of companies who have a strong interest in maintaining the status quo.”
‘Tis The Season: Kicking Off SCOTUS Term 2016
The first Monday in October is “like a holiday” for “real Supreme Court nerd[s],” according to Harvard law’s Ian Samuel
in the fabulous new SCOTUS podcast, First Mondays.
Minnesota Public Radio
The fight for clean power (audio)
A hearing was held on the EPA's Clean Power Plan last month at the U.S. Court of Appeals for the District of Columbia Circuit. Mike Edgerly spoke with the director of Harvard Law School's Environmental Law Program, Jody Freeman
, about what happened at the hearing, and what that means for the plan and future climate regulation.
Mass. High Court On Parental Rights; SCOTUS On Racially Tainted Testimony (audio)
On Tuesday, the Massachusetts Supreme Judicial Court handed down a decision on parental rights that broadens the legal definition of a family. In the case, Partanen v. Gallagher, the state extended parental rights to people in same-sex relationships who never married, and who don't have a biological connection to a child, if they can show that they have been actively involved with the child's upbringing. We'll also talk about the case of Duane Buck, a convicted Texas murderer whose case is now before the Supreme Court. The court is examining the role of race in sentencing after a psychologist testified that Buck was more likely to be a future danger to society because he was black. Guest: Nancy Gertner
, former Massachusetts federal judge, senior lecturer on law at Harvard Law School and WBUR legal analyst.
Lawyers Can Write Shorter, But It’ll Cost Them
An op-ed by Noah Feldman.
It may not seem that significant to a civilian. But a rule-change that will lower the maximum length of appellate briefs from 14,000 words to 13,000 words , effective Dec. 1, is getting plenty of pushback from the lawyers who specialize in federal appeals. To the readers, a 7 percent reduction in legalese is definitely good news. Yet to the writers, it could mean a 7 percent reduction in billable hours -- and in revenue. That’s no small matter. The economics of appellate law are already pretty tenuous from the standpoint of managing partners who employ appellate specialists, often against their will.
The Harvard Crimson
Journalist Presents App to Help Children With Autism Communicate
At the Graduate School of Education Thursday Pulitzer-winning journalist Ron Suskind
discussed his experience raising his son, who has autism, and the creation of an app to help children with autism communicate. Suskind, a lecturer at Harvard Law School, chronicled his journey raising and connecting with his son, interspersing his narrative with clips from the movie "Life, Animated: A Story of Sidekicks, Heroes, and Autism," which is adapted from his eponymous book.