They’re coming up within the next few days, but Prof. Bainbridge warns that the draft legislation circulating from the office of Sen. Kirsten Gillibrand (D-N.Y.) is “bizarre” and “toothless.” Earlier here, here, etc.
More: Gillibrand’s office says the weakness of the proposal was due to an inadvertent drafting error and that it will be given teeth. C-SPAN covers the hearing, the SEC and Sen. Scott Brown make their views known, Todd Henderson and Larry Ribstein take a contrarian position, and Prof. Bainbridge covers the scholarly testimony.
One Comment
Of course it’s toothless. Congress-Creatures passing a law that kills their golden goose is about as likely as them giving themselves term limits.