When an independent agency is created, from whom does it gain independence – the President, Congress, or the people? Maybe the better question is whether it is really independent at all. One thing in particular that caught my eye is Peter Conti-Brown’s focus in Part III on the independence of the Federal Reserve Board (Fed) […]
Here is an interesting fact: the D.C. Circuit has invoked Charles-Louis de Secondat, baron de La Brède et de Montesquieu—better known as Charles de Montesquieu, the Baron Montesquieu, “ the celebrated Montesquieu,” or just Montesquieu—on at least nine separate occasions. Included in this list are some notable cases: Nixon v. Sirica, Buckley v. Valeo, and […]
Last month I offered some thoughts on the Obama Administration’s opening brief in United States v. Texas, the pending Supreme Court challenge to the President’s deferred action policies for unauthorized immigrants (known as DAPA and DACA). Texas has now filed its brief opposing the programs. Looking at this from the 10,000 foot level, there are […]
I join my fellow colleagues in praising Peter Conti-Brown’s The Power and Independence of the Federal Reserve. The book provides an insightful history of the Federal Reserve since its 1913 inception and is a powerful account of the extent to which “personnel is policy.” In particular, I note his nuanced understanding of “agency independence” as […]
A sincere thank you to Peter Conti-Brown for his efforts to reach the public in his book The Power and Independence of the Federal Reserve. First, I begin by revealing that my practice is far removed geographically and figuratively from those who ponder the rationale for the power and independence of the Federal Reserve. My […]
Last week over at Jotwell, Richard Murphy reviewed Auer in Action: Deference After Talk America byCynthia Barmore, which was published last year in the Ohio State Law Journal. Here’s a summary of the paper from the SSRN abstract (the paper is available on SSRN here): For decades, judges and commentators took for granted that courts should […]
Administrative law doctrine and scholarship has traditionally treated agencies as unitary entities and focused upon the proper allocation of authority among agencies, the President, Congress, and the courts. Recently, however, scholars have begun to unlock the “black box” of agency design to identify and evaluate the ways in which administrative law rules allocate decisionmaking authority […]
Peter Conti-Brown’s terrific study of the Federal Reserve arrives amid a small boomlet—I won’t say “bubble”—of new books on our central bank: Roger Lowenstein’s America’s Bank: The Epic Struggle to Create the Federal Reserve; former Chairman Bernanke’s memoir, The Courage to Act; similar memoirs by former Chairman Greenspan and former Treasury Secretary Geithner; Philip Wallach’s […]
The new Washington and Lee Law Review Rankings (based purely on citation counts) are out, and the Yale Journal on Regulation remains the top administrative law journal. It also comes in at No. 56 among all law reviews (based on the “combined” score). Congrats editors! In case you’re curious, here’s the top ten for administrative […]
My thanks to Chris Walker for organizing this symposium and inviting me to participate. It’s a pleasure to be involved and an honor to be among such an impressive line-up of scholars and experts. Like yesterday morning’s contributor, Sam Halabi, the Federal Reserve System is not my area of expertise, but I very much enjoyed […]
Let me begin by echoing Daniel’s thanks to Chris, the Yale Journal on Regulation’s Notice and Comment team, and Peter for the opportunity to reach outside my scholarly comfort zone and hopefully play a useful role in illuminating the importance of Peter’s book not only for scholars of the Federal Reserve system but the legal […]
There is a rumor out there (which may have just started with this post) that one out of every thirteen copies of Peter Conti-Brown’s new book The Power and Independence of the Federal Reserve includes a chapter exploring how over the last century the Freemasons have influenced and in some respect controlled the form and […]
Here’s the press release on the terrific Penn Program on Regulation event today at noon, which will be live-streamed: The Penn Program on Regulation will hold a panel discussion, The Next Five Years in Regulation: An Election Year Conversation, on April 5, 2016 at noon at the University of Pennsylvania, Philadelphia, PA. The session will […]
Let me begin by echoing Daniel’s thanks to Chris, the Yale Journal on Regulation’s Notice and Comment team, and Peter for the opportunity to reach outside my scholarly comfort zone and hopefully play a useful role in illuminating the importance of Peter’s book not only for scholars of the Federal Reserve system but the legal […]
A couple of weeks ago, my wife (also a law professor) and I wrapped up the final session of a seminar that we co-taught called Contagion. We wanted to offer an introduction to the outbreaks of infectious disease that have reshaped American life and law. The class was one of Michigan Law’s “at home mini-seminars,” […]