Coming out in (relatively) affordable paperback soon. Order now in time for the Xmas holiday gift giving season!

Source: The Facebook effect: secondary markets and insider trading in today’s startup environment : Research Handbook on Insider Trading

My co-author Stanford-based economist Jenny Kuan and I each traveled to different parts of the country recently to present our research on the problematic changes in stock market structures. I presented the paper at the meetings of SASE held at Northwestern’s Kellogg School of Business and Jenny presented the paper at the ISNIE meetings at Duke. We got helpful comments from both events and are honing in on a new draft for submission to a peer reviewed finance journal. Here are the slides I used in Chicago.

1. I read the recent working paper and was surprised and concerned that the words “academic freedom” do not appear in the paper. Are we to conclude that academic freedom is not a principle to be an integral part of the law school of the future? Presumably not. But I would appreciate learning the Task Force’s views on this basic principle.
2. An implication of the push for diversification of law schools is that the ABA should no longer require tenure as an accreditation standard. For a century or more tenure has been considered inextricably linked to the protection of academic freedom. If the Task Force believes that tenure should no longer be part of the standards, how does it believe academic freedom can be protected?
3. In light of the concern that many legal academics have about the threat to tenure and academic freedom that is part and parcel of the program being pushed by the law school “reform” or “critics” movement does the Task Force believe that the law school’s place inside independent colleges and universities plays a critical role in the promotion of the rule of law?

Michael Froomkin at Discourse.net has an excellent summary of the new JD value study and takes on in the comments some typical but poorly thought through objections.

Study Finds the Net Present Value of a Law Degree is Highly Positive | Discourse.net.

The Wall Street Journal is proud that its foreign policy columnist Bret Stephens has won a Pulitzer for his columns. I am, too, as it would appear my writing helped shape Mr. Stephens writing style. Or maybe not. You can be the judge by reviewing the case here.

A law professor who actually practiced law begs to differ with Georgetown center report on alleged dire straits facing law practice and impliedly legal education.

Legal Ethics Forum: The Georgetown/Peer Monitor Report on the 2013 Legal Market.

Sunday Review – Ben Schott – Assembling a Films Billing Block.

Is Netflix’s remake of a British political thriller changing the structure of TV? It’s about time.

TV streaming: six of the best shows.

I will be lecturing EMBA’s at the SCU Business School next month on cross border transactions and securities regulation.

And the following month I will be talking with SCU’s Markkula Center for Applied Ethics about reform of the global financial system.  A podcast will be made of this event.