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Tuesday, June 29, 2010

Law - "Financial Regulatory Bill: Jobs Bill for Lawyers?"

That is the headline to this article today by Zach Lowe of The American Lawyer. It begins:

We chuckled Sunday at the kicker to this story in The New York Times about the major role regulators will play over the next few years in terms of translating the 2,300-page financial regulatory bill Congress is expected to pass this week from theory into reality.

According to the NYT, lawyers who work at the intersection of finance and Washington rule making are going to be in such high demand that a joke is apparently going around D.C.: "Congress finally passed a jobs bill -- full employment for lawyers."

Here is another area -- the WSJ Law Blog has an entry today headed "In the Wake of Big Gun-Control Ruling, There Will Be Litigation," that begins:
In the wake of Monday’s Supreme Court decision expanding gun rights, once near certainty has emerged: there will be litigation, write the WSJ’s Vanessa O’Connell and Gary Fields in Tuesday’s paper.

The decision will likely trigger a flood of suits in states and cities with restrictive laws, so it could take years before the practical impact of the ruling is clear.

The reason behind this near-certainty: The ruling — despite its 214-page length (with concurrences and dissents) — is vague. While it requires states to respect a federal right under the Second Amendment to keep and bear arms, but it doesn’t say specifically how broadly the right extends.

So gun-rights groups are preparing to file suits in states with restrictive laws—in particular New York and California—while groups favoring gun control said they were confident most rules would pass constitutional muster.

Among the restrictions likely to be in play are assault-weapons bans, registration rules and state laws that give governments permission to suspend certain gun rights in emergencies.

Posted by Marcia Oddi on June 29, 2010 12:05 PM
Posted to General Law Related