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Author: William A. Jacobson

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William A. Jacobson

William A. Jacobson is a Clinical Professor of Law and Director of the Securities Law Clinic at Cornell Law School.

He is a 1981 graduate of Hamilton College and a 1984 graduate of Harvard Law School. At Harvard he was Senior Editor of the Harvard International Law Journal and Director of Litigation for the Harvard Prison Legal Assistance Project.

Prior to joining the Cornell law faculty in 2007, Professor Jacobson had a highly successful civil litigation and arbitration practice in Providence, Rhode Island, concentrating in investment, employment, and business disputes in the securities industry, including many high profile cases reported in leading newspapers and magazines.

Professor Jacobson has argued cases in numerous federal and state courts, including the Courts of Appeal for the First, Fifth and Sixth Circuits, and the Rhode Island Supreme Court.

Professor Jacobson has a national reputation as a leading practitioner in securities arbitration. He was Treasurer, and is a former member of the Executive Committee and Board of Directors of the Public Investors Arbitration Bar Association, a professional organization of attorneys dedicated to protecting public investors. He frequently is quoted in national media on issues related to investment fraud and investor protection, and in the past has served as one of a small number of private practice attorneys who trained new arbitrators for the Financial Industry Regulatory Authority.

Professor Jacobson is co-author of the Securities Arbitration Desk Reference (Thomson-Reuters), updated annually.

Professor Jacobson is frequently quoted in the media on political and legal topics, has authored many Op-Eds in major publications, and appears on television and radio to discuss politics and the law.

A more complete listing of Professor Jacobson's professional background is available at the Cornell Law School website. The views expressed here are his own and not those of any employer or organization,

The best way to reach Prof. Jacobson is by e-mail here.

On October 27, 2013, 60 Minutes ran a blockbuster story of a Benghazi witness who dramatically told of his presence on the scene the night Ambassador Christopher Stevens was killed. His story of being on the scene was new, his information regarding prior warnings was not new. The failure of the Obama administration to provide protection and the cover-up that the attack was the result of a spontaneous protest are the scandal. That's why we headlined the 60 Minutes report that 60 Minutes "confirms" the scandal, 60 Minutes confirms Benghazi is a real scandal, and you’ve been lied to. We weren't the only one seeing that the scandal information confirmed prior reports.  Dave Weigel at Slate.com, in trying to minimize the damage to Obama, wrote What Did We Learn From the 60 Minutes Benghazi Report?:
But the report tells us more about what we've known for a year, and known in detail since the spring of 2013. Lara Logan's big coup is an interview with a British security officer who uses a psuedonym; her other on-camera sources, Andy Wood and Gregory Hicks, had testified before the House Oversight and Government Reform Committee.... This colors in some of the story, but it doesn't advance the scandal. The Stevens cables that warned State about what might happen were revealed almost a year ago, sparking off some minor head-rolling at State but not much else. What conservatives want to know—and when I go to conferences or political rallies, I hear this—is what Barack Obama and Hillary Clinton were doing on the night of the attack, and whether they heard earlier warnings but ignored them.
The scandal part of Benghazi now will be lost in the media narrative because it turns out that 60 Minutes star witness may not have been on the scene.  His dramatic story of his own heroics that night appears to be false, or at least subject to serious doubt.

John Kerry's public warning to Israel that it will face a 3rd Intifada and international delegitimization unless it relinquishes "illegitimate" settlements and a final peace deal does not leave a single Israeli solder in the West Bank, was a clear threat. The threat took place in an interview with Israeli and Palestinian television, as reported by The Times of Israel, Kerry slams Israel’s West Bank policies, warns of 3rd Intifada (emphasis added):
US Secretary of State John Kerry launched an unusually bitter public attack on Israeli policies in the West Bank Thursday, warning that if current peace talks fail, Israel could see a third intifada and growing international isolation, and that calls for boycott, divestment and sanctions would increase. Kerry made the comments during a joint interview with Israel’s Channel 2 and the Palestinian Broadcasting Corporation.

“The alternative to getting back to the talks is the potential of chaos,” Kerry said. “I mean does Israel want a third Intifada?” he asked. “Israel says, ‘Oh we feel safe today, we have the wall. We’re not in a day to day conflict’,” said Kerry. “I’ve got news for you. Today’s status quo will not be tomorrow’s…” Israel’s neighbors, he warned, will “begin to push in a different way.”

The secretary went on: “If we do not resolve the issues between Palestinians and Israelis, if we do not find a way to find peace, there will be an increasing isolation of Israel, there will be an increasing campaign of delegitimization of Israel that’s been taking place on an international basis.”

Turning to settlements and Israel’s presence in the West Bank, he added: “If we do not resolve the question of settlements, and the question of who lives where and how and what rights they have; if we don’t end the presence of Israeli soldiers perpetually within the West Bank, then there will be an increasing feeling that if we cannot get peace with a leadership that is committed to non-violence, you may wind up with leadership that is committed to violence.”

The highlighted words have a lot of meaning in the context of the dispute, particularly with regard to BDS and delegitimization.

It's broken windows theory, at a very personal level. If you hang out with people who have zero respect for our laws and who think it is their right to mock us openly and dare us to deport them in accordance with law (knowing full well the political theater that would create), why are you so surprised that they secretly record your meeting and then use it to help their cause even if it embarrasses you? Really, Democratic Representative Luis Gutierrez from Illinois, why did you think there would be any honor from these people and that they wouldn't break your window after breaking our immigration windows? Via Fox Latino, Leading Pro-Immigrant Congressman Severs Ties With DREAMer Groups; Calls Them Manipulative, Racists:
U.S. Rep. Luis Gutierrez, the vocal proponent in Congress for a change in policy that would give undocumented immigrants who were brought to the United States as minors a chance to legalize their status, has cut off ties with two groups that have coordinated provocative protests in recent months. Gutierrez, a Democrat from Illinois, on Monday evening issued a press release announcing that he was no longer going to work with the National Immigrant Youth Alliance (NIYA) and their affiliated advocates at DREAMActivist.org. The congressman said the final straw in a series of actions by the groups that he has found unsettling was the secret recording by a NIYA representative of what was to have been a confidential discussion last week between Gutierrez and parents of immigrants who are being held in an immigrant detention center in El Paso, Tex. "It just shows me how dangerous they are," Gutierrez said in an interview Tuesday with Fox News Latino....
As to the racism part, you have enabled that too.

Hello?! I run this place.  Quote me, me, me! Patrick Maines, President of The Media Institute, writing in USA Today, quotes Legal Insurrection commenter Moonstone716 regarding the Brown shout down of Ray Kelly, Political divide hurts college free speech: As one commenter poignantly observed in reply to coverage...

One part of my communications with Brown Prof. Naoko Shibusawa has stuck in my mind:
"You can quote those two lines. Those only."
Shibusawa is the person featured in my post Tuesday night, Brown U. divestment committee faculty member signed 2009 letter calling Israel Apartheid state.  The post started by referencing her support for the Brown shout-down of Ray Kelly expressed in her Letter to the Editor of the Brown Daily Herald:
"... I want to point out that every movement toward social justice in U.S. history has included “misbehavior.” “Misbehavior” is a tactic of the disempowered toward disrupting the status quo.... So unlike [Biology Prof. Ken Miller who denounced the shout-down], I applaud the student protesters for their moral courage in a righteous cause against racial profiling and brutal police tactics and for their resolution in the face of the harsh criticisms they have since endured. I am proud of you. You inspire me to try to be a better teacher, scholar and person.
Shibusawa initially told me by phone “I don’t know what the purpose is [of my call] and what you want to do” and “I’ve checked out your blog.” She continued, that it “looks like you want to portray me as some sort of extremist” but “I believe in social justice.” Shibusawa then said, “You can describe me as extreme.” Fair enough.  But then the follow up email, telling me what I was allowed to say about the conversation (emphasis added):

Ace describes this as sort of true (quote from Daily Caller)
“Bobby Jindal and his political team totally blew it,” harrumphed one advisor for Ken Cuccinelli the morning after a closer-than-expected loss. Cuccinelli, who narrowly lost last night’s gubernatorial election to Terry McAuliffe, was badly outspent in the days and weeks leading up to the election. The New York TimesJonathan Martin described Cuccinelli’s plight as having been “close to abandoned at the end.” He was. As Politico’s James Hohmann reported, ”The Republican National Committee spent about $3 million on Virginia this year, compared to $9 million in the 2009.” And as the Roanoke Times noted, in 2009, the Chamber of Commerce spent $973,000 on Bob McDonnell, but “[t]his year, the chamber gave Cuccinelli nothing.” But it was the Republican Governor’s Association (RGA) and chairman Bobby Jindal who drew the most ire from a Cuccinelli advisor I spoke to on Wednesday morning — this, despite the fact that the RGA spent millions on the race.
The gripe against the RGA is that it spent money on ads itself, rather than giving the money to the Cuccinelli campaign directly, as the Democratic Governors Association did for McAuliffe, who used the money to hammer a war on women strategy. These are details, details, details. The bigger issue with Republicans is that it's a one-way loyalty.  When an establishment candidate wins a primary, Tea Party and others are expected to fall in line.  And that did in fact happen with the Romney presidential campaign. But it doesn't work the other way around.  When an establishment/incumbent Republican loses a primary, there is no rallying around the insurgent nominee with any enthusiasm. That's not the way it works for Democrats.  First, there are few if any insurgents in the Democratic Party.  Once in a while you'll get a true progressive, but those are dwindling.  There is a greater homogeneity of thought in the Democratic Party.  And when you do get a whack job like Alan Grayson, Democrats circle the wagons instead of creating a circular firing squad as Republicans do. https://twitter.com/seanmdav/status/397915363444150272

A rare dose of sanity at Salon.com, Who will protect us? Why I’m still conflicted about guns as a black feminist:
I was 15 years old when my mother and I were robbed at gunpoint. It was 1982.... I don’t own a gun but I know plenty of educated black women who do. These are working- and middle-class women, some of them single and some with families, and  statistics support what I see. According to a National Shooting Sports Foundation report, 78.6 percent of retailers reported an increase in the number of women buying guns in 2012. Although a 2013 Pew research report reveals that gun ownership remains overwhelmingly white and male, black women made up the fastest growing purchasers of concealed handguns in Texas between the years 2007 and 2012. J. Victoria Sanders, a black Texan and journalist, reported this trend in a 2011 article detailing the increased marketing of guns to women and Sanders’ own journey toward gun ownership. This movement toward guns seems a rational decision for black women when you consider some of our experiences. Historically, black women have been left unprotected as a matter of law and custom, our bodies designated as commodities, used as “de mule uh de world” as Zora Neale Hurston wrote, and as sites for sexual violence and mockery. In an analysis of 2011 data, the Violence Policy Center reported that black women are murdered at rates three times that of white women and these murders usually involve a gun used by someone that the woman knows. Given these realities, some of us are pragmatic about self-defense. Even when we identify as feminist, as I do, we remain uncommitted to anti-gun feminism that erases our specific experience....

Our examination of the shout-down of Ray Kelly at Brown University has moved from the events that day to examining reaction of faculty, including from Political Science Professor Marion Orr who apologized for inviting Kelly, and Biology Professor Ken Miller who issued a forceful denunciation of the shout-down. Something interesting happened along the way, as more faculty went on record supporting the protests, if not the shout down. Post doctoral fellow and instructor Linda Quiquivix, who spoke on a panel discussion in favor of the protests, turned out to be a zealous critic of Israel, to put it very mildly.  In light of Quiquivix's background, I suggested that there may be a connection between supporters of the tactics used against Israel on campuses and those used against Kelly. It turns out that another faculty member who supported the shout-down also has a background in the Israel divestment movement.  More than that, she sits on the University advisory committee on social investing, which has taken up the Israel boycott issue at the behest of Brown's Students for Justice in Palestine. Naoko Shibusawa is a professor of history, specializing in "U.S. cultural history." [caption id="attachment_69998" align="alignnone" width="436"]Naoko Shibusawa Syria Forum 3 (Naoko Shibusawa)[/caption] In the wake of the Kelly shout-down, Shibusawa wrote a Letter to the Editor of The Brown Daily Herald on November 1, fully supporting the events that took place (emphasis added):

We have written many times before about Obama's obsession with wind power, despite the huge massacre of migratory bird populations, questionable technology, and doubtful economics. Via Tim Blair (h/t Iowahawk) come this poinent video of a German windmill falling down, and a description of the techincally...

At first I assumed this was an anti-Bush bumper sticker. From Danelle:
Seen in North Texas

Bumper Stickers - North Texas - Cowboy White House left Bumper Stickers - North Texas - Cowboy White House right

But Danelle sent this link to the song Cowboy in The White House, and an article from 2003 about the song:

I had to laugh listening to the audio of the NY Times Tehran Bureau Chief explaining away the intensified and widespread chants of Death to America on the streets of Tehran as not really meaning "Death to America" (h/t Althouse):
On this 34th anniversary of the takeover of the U.S. Embassy in Tehran, thousands of Iranians gathered outside that building to once again chant "Death to America." But New York Times Bureau Chief Thomas Erdbrink told NPR's Steve Inskeep on Monday that though the shouts were the same as they've been since 1979 and the demonstration was larger than in recent years, the people he interviewed there were not virulently anti-American. "All the people I spoke with," Erbrink said, "didn't really mind Iran talking to the United States ... [and they] admitted they want to see some sort of solution" to three-plus decades of fractured relations.
I laughed not because the subject is funny, but because it reminded me of left-wing guru Professor Juan Cole from March 2009, insisting that when they chant Death to American in Iran, they really mean "could you get me a visa, I'd really like to visit Disneyland" (video below, at 3:08):

The Committee for Accuracy in Middle East Reporting in America (CAMERA) is a valuable resource on which we frequently rely for news tips and information regarding the Middle East.  I'm not sure how I ended up on CAMERA's email update list, and I'm not even sure...

Hey, remember when Nancy Pelosi triumphantly predicted that Obamacare would allow artists to have health insurance without worrying about their day jobs?
Think of an economy where people could be an artist or a photographer or, eh, a writer without worrying about keeping their day job in order to have health insurance....
Nancy Pelosi Helath Care Will Give up More of... by GWHH19 It's a dream come true, and you are subsidizing it, as this NY Times spotlight piece about two artists in Albequerque who quality for free Obamacare plans demonstrates:

NYT Artists free Obamacare

Elisabeth and Mark Horst, artists in Albuquerque who earn $24,000 a year between them, qualified for a zero-premium plan.

I have nothing against the Horsts. Living and painting in Albuquerque is a dream for many people. But why should the taxpayers have to subsidize what clearly is a lifestyle choice? The Horsts are not exactly uneducated or without choices in their lives. Here's a part of Mark Horst's bio at his art website:
Mark Horst grew up in small town Minnesota. He studied pottery and printmaking in high school and college, but his encounter with Dorothy Day and the Catholic Worker led to years of very different work. After earning a Ph.D. in theology from Yale University, he spent time teaching and working toward neighborhood renewal in south Minneapolis. He pursued the craft of painting and drawing at the Minneapolis College of Art and Design and the New York Studio School. He lives in Albuquerque. If paint were a means of freezing time and protecting us from the dangerous life of the spirit, I would put down my brushes. But, for me, painting is a way of breaking time’s grip and setting loose something wild and strong.
Elizabeth also is highly educated and closed her psychology practice to paint:

On June 16, 2009, in the earliest days of discussion about what form Obamacare would take, I wrote, Deception and Tyranny Key To Health Care Reform:
The only way the Obama administration and Democrats can force through the types of changes they envision for the health care system is through deception and tyranny. Honesty and freedom have no place in a system of national health care.
And now the deception and tyranny is being exposed for all to see.  You cannot keep your insurance plan and doctor, and administratively Obamacare is not ready for prime time.  Worse still, the dysfunctional nature of restructuring 1/6th of the economy is having ripple effects throughout the health care industry, with patients put at risk and doctors drafting exit plans. Meanwhile, the Editors of The NY Times are trying to wordsmith away Obama's clearly knowing false statement that people could keep their insurance plans by saying Obama "misspoke." Obama and his aides knew at the time that it was not accurate -- they even kicked around whether to make the statement. At least some other outlets are not playing the game. From NY Mag, this fairly comprehensive account of how many time that promise was made (h/t Twitchy): Meanwhile, CBS News reveals this morning that despite Obama's and Kathleen Sebekius's repeated assurances earlier this year that healthcare.gov was ready to go, there were clear and present warnings otherwise, Memo reveals health care adviser warned W.H. was losing control 3 years ago:

From Amy: I recently moved from a purple district to a much redder one, where conservative bumper stickers are not so rare. Anyway, I saw this one in the Starbucks drive-thru. It doesn't say what he IS, but at least he's not a liberal. :-)...

I have been following various faculty reactions to the Ray Kelly shout-down, including from Political Science Professor Marion Orr who apologized for inviting Kelly, and Biology Professor Ken Miller who issued a forceful denunciation of the shout-down. So when I saw an article in The Brown...

Kirsten Powers in Christianity Today: Just seven years ago, if someone had told me that I'd be writing for Christianity Today magazine about how I came to believe in God, I would have laughed out loud. If there was one thing in which I was completely...