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National Law Journal:Selections from Legal Times Afternoon Update September 16, 2009

By David Badertscher, PLL

Source: NLJ.com, September 16, 2009.

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SEC Taps Derivatives Expert for New Division

"The U.S. Securities and Exchange Commission, still reeling from criticism over its failure to detect Bernard Madoff's $50 billion pyramid scheme, today announced it is creating a new division of Risk, Strategy and Financial Innovation. The new division will be headed by University of Texas law school professor Henry Hu, who is known as an expert in asset allocation, the regulation of banks, derivatives, hedge funds and mutual funds, and corporate governance."

 

Justice Stevens Retirement Watch: An Update

"A report on a Newsweek blog this week sent another tremor through the Supreme Court community about the possibility that Justice John Paul Stevens is planning to retire at the end of the upcoming term. The justice had sent an e-mail to all his former law clerks, the report said, inviting them to a clerk reunion next May. This was taken as an unusual move by the justice and a further sign that this term might be his last on the Court".

 

Momentum Builds to Renew Antiterrorism Provisions

"The chairwoman of the Senate Intelligence Committee said today that she supports a three-year extension of provisions of the USA Patriot Act that are set to expire at the end of the year. Sen. Dianne Feinstein (D-Calif.) said a three-year time period would set the provisions up for renewal again at the same time as the entire anti-terrorism measure is set to expire. "

 

Sparks Fly at D.C. Circuit in Adams Morgan Protest Case

"Chief Judge David Sentelle of the U.S. Court of Appeals for the D.C. Circuit did not take kindly to the argument lodged this morning by Daniel Schember, a name partner at Gaffney & Schember, on behalf of a group of protesters who were arrested in 2005 during a march against the inauguration of then-President George W. Bush."

 

Ye Gon Extradition Hearing Postponed Amid Evidence Dispute

"The Zhenli Ye Gon case just won't go away fast enough for the Justice Department. A federal magistrate judge in Washington today ruled against the department in the extradition case against Ye Gon, who is wanted in Mexico on charges that include organized crime and drug violations."

 

Kennedy Defends his Silence During Anita Hill Testimony

"Sen. Edward Kennedy was largely silent when Anita Hill sat before the Senate Judiciary Committee in October 1991 and accused Supreme Court nominee Clarence Thomas of sexual harassment. Ever since, his silence has been attributed to his own reputation for indiscretion and to the rape charge that his nephew William Kennedy Smith was then facing in Florida."

Full post as published by New York Supreme Court Criminal Term Library on September 17, 2009 (boomark / email).