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Tag Archives: Legal

FTC, Where Art Thou?: Appliance Manufacturers Routinely Invalidate Warranties if Customers Use Third-Party Repair Services

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. Appliance repair is on my mind at the moment. Why? The dishwasher at our winter rental beach hideaway, where my husband and I have sequestered ourselves to avoid the pandemic, died last Friday. Leaving us to do the dishes. I know, I know, a first world problem. And a task I’ve done before, and no doubt will do many times again. We didn’t have a...

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FBI Investigating Reporting Fraud at $62 Billion Pennsylvania Public Pension Fund, PSERS; Returns Allegedly Falsified to Avoid Increased Worker Contributions

Frankly, it’s surprising that it’s taken this long for an investigation of a public pension fund over allegations that it lied about its returns. But it’s not a surprise that it took Federal investigators, as in the FBI, to saddle up, in this case against a Pennsylvania Public School Employees’ Retirement System, aka PSERS. Readers regularly lament how CalPERS regularly and obviously runs roughshod over the law and board members openly violate their fiduciary duty by not even pretending to...

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New York Joins Pot Party

By Jerri-Lynn Scofield, who has worked as a securities lawyer and a derivatives trader. She is currently writing a book about textile artisans. New York became the fifteenth state to join the pot party when governor Andrew Cuomo signed legislation on March 31. As The City explains: The historic law, the culmination of drawn-out, fierce negotiations in Albany, will allow people to possess up to three ounces of pot and grow a limited amount of cannabis at home. The measure also will expunge...

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Twitter and YouTube Manipulation in Trial of Derek Chauvin for the Death of George Floyd?

Due to the hour and the terrible general state of search, I can’t prove a negative, but I sure don’t like what I am not seeing regarding the trial of Derek Chavin on Twitter. And I’m not clear on how much of what I am not seeing is due to the US press or our tech overlords. By sheer happenstance, when looking for something to watch while doing one of the few forms of lower body exercise open to me (standing on a whole body vibration plate), I turned on Court TV. Court TV has gavel to gavel...

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Getting a Prescription to Die Remains Tricky Even as Aid-in-Dying Bills Gain Momentum

Yves here. “Right to die” is a product of Christian prohibitions against suicide. After all, none of us gets out of here alive. However, the issue of pain or severe debility among the old and not necessarily so old is seldom discussed in polite company. My father shot himself when he could no longer endure the horrific symptoms of an autoimmune disease that was always fatal. One of my parents’ friends had successfully fought off breast cancer a couple of times. When it recurred and she was...

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Chicago School Economists Got it Wrong. Strong Antitrust Policy Boosts the Economy.

Yves here. Intellectual and public support is necessary but not sufficient for officials and courts to take on companies with excessive market power. One way is to break them up. The other is to regulate them. I’m not at all sympathetic to the whinging of the likes of Facebook that it would be hard to dis-integrate business they’d acquired not that long ago. Help me. This is all bloody code. It’s not even remotely like going to Mars. Remember back in the days of the Microsoft antitrust suit,...

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Another Blow to Tax Evasion and Money Laundering: UK Targets Art Market After US Goes After Anonymous Shell Companies

Governments in advanced economies are getting more serious about chipping away at hidden wealth. Admittedly, they have a long way to go. Gabriel Zucman, in his The Hidden Wealth of Nations, estimated that 8% of household wealth, which was $7.6 trillion when he published his book in 2013, was in tax havens. Sometimes people with lots of dough hidden in these lockboxes want to use it, hence the use of shell companies and other devices to make use of the funds without tipping off the tax man....

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CalPERS Laughingstock: Marcie Frost, Who Previously Pursued Non-Existent Dual Bachelors/Masters Degree, Designates Herself Law School Grad and Bar Member; Investment Committee Chair Theresa Taylor Admits Not Knowing What SPACs Are

CalPERS continues to demonstrate how far the institution has fallen. It’s not a good look that that key actors are broadcasting the CalPERS’ diminished state by seeming totally clueless when making fools of themselves. Marcie Frost, Now Lawyer Extraordinaire Napoleon crowned himself Emperor of France. One must conclude that Marcie Frost has imperial fantasies in designating herself a member of the California bar, which also requires having a law degree or having completed four years of study...

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CalPERS Board Member Theresa Taylor Outs that a Staff Member Has Committed Fraud; When Will Giant Pension Come Clean?

CalPERS continues to demonstrate that its board is both generally unwilling to and incapable of performing its duty of overseeing staff. While discussing inadequate “the horse has left the barn and is now in the next county” measures in the wake of Chief Investment Officer Ben Meng’s resignation, Investment Committee Chair Theresa Taylor dropped the bombshell that the board has been briefed about a so-far undisclosed fraud. As we’ll show, the context makes clear that the swindle was executed...

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Patent System Often Stifles the Innovation It Was Designed to Encourage

Yves here. This is a useful, high level recap of what ails the US patent system and what elements need fixing for it to protect bona fide inventors, as opposed to crafty lawyers and patent-writers. By Michael J. Meurer, Professor of Law, Boston University and Janet Freilich, Associate Professor of Law, Fordham University. Originally published at The Conversation Over his career Thomas Edison garnered more U.S. patents than anyone in his time. Edison profited from his patents, but he was also...

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