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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.

Professor, Saw this car parked at a Dunks in southern New Hampshire. Just FYI, the NH state motto is "Live free or die." Enjoy, J ...

I told you so.  Elizabeth Warren's repeated supposed refusals to run for President always were framed in the present tense: I am not running for President. That, of course, technically was correct.  I don't think anyone of note "is" running for President yet, but many are seriously considering it and likely will run. Nothing makes Warren's word games more clear than her interview with (my law school classmate) Ruth Marcus of The Washington Post:
The Massachusetts Democrat insists that she’s not running for president, and there’s little reason to doubt her — although, interestingly, Warren sticks doggedly to the present tense to describe her intentions. I asked Warren about this phrasing the other afternoon over iced tea mixed with lemonade at a restaurant near her Capitol Hill office. In these precincts, senator sightings are commonplace but, even here, Warren enjoys celebrity status; the manager promptly presented Warren with a copy of her memoir, “A Fighting Chance,” to sign. Why not simply declare that she will not run for president in 2016? “I am not running for president in 2016,” Warren responded. Yes, I pressed, but why not say, I am not running and I will not run?

Elizabeth Warren is doing the best she can with the ideology she has. So it was a shock to see Chris Matthews, of all people, call her out for being all talk and no real action. As if she would just say things for political effect. Or take advantage of situations unfairly for her own gain. Come on Chris. Leave Elizabeth alone. From The Daily Caller:
Massachusetts Democratic Senator Elizabeth Warren clearly expected a softball interview with MSNBC’s Chris Matthews on Thursday night. But midway through her predictable talking points, the left-wing “Hardball” host unexpectedly struck out at the progressive darling over what he views as Democratic inaction on jobs and infrastructure.

Wisconsin Gov. Scott Walker has been the subject of a brutal smear campaign by local district attorneys using the so-called "John Doe" procedure, as discussed in my post Media Malpractice – Report false criminal accusations against Walker, but not contrary judicial rulings. I also encourage you to read Gabriel Malor's column, A Basic Primer On The Scott Walker Case For Ignorant Reporters. Since it's obvious the media, particularly on the left, is running with the false accusations to damage Walker's current 2014 gubernatorial campaign and possible 2016 presidential bid, it's important that the media malpractice be exposed and the lies refuted. As with smears against Republicans in the past, it's not about the particularly target, in this case Walker.  It's about the media's desire to take down potential Republican candidates early and often, without regard to the truth. We've seen it already in the disgusting attack in The New Republic by Alec MacGillis claiming that Walker's success is based on white racism, New Republic’s race-baiting of Scott Walker just a 2016 warm up. Gov. Walker has written the following column, which he is encouraging others to run. It's a way of going around the mainstream media. Every single conservative blog and website should run this column. Here is Gov. Walker's column:

I appeared on June 19, 2014, on The Larry Elder Show, talking about the BDS movement. Larry was very familiar with the movement, and voiced some strong opinions. I appreciate the opportunity, thanks Larry. UPDATE: Congratulations to Larry for getting a Star on the Walk of Fame! ...

Last Sunday night we called attention to the flood of PAC advertising on behalf of incumbent Republican Richard Hanna in the safe-Republican NY-22 district. The Republican primary is June 24. There is no Democratic candidate, because the district was considered so safe Republican. The PAC ads are "false flags" because they present Hanna as the most conservative candidate, when in fact challenger Claudia Tenney is the most conservative. WBNG 12 reports:
Assemblywoman Claudia Tenney held a press conference to call out Hanna, who she said is partnering with liberal companies in Washington and is sending out false information to voters. She said Hanna is putting out flyers that are simply not true. "He's putting out flyer after flyer describing himself as 'Your Conservative Voice, Your Conservative Choice.' There's a reason he keeps using the word conservative because that's who votes in Republican primaries," Tenney said. Tenney is the top-rated conservative in the state legislature and Hanna is the third most liberal of the Republican caucus.
Pro-Hannal liberal PACs have spent several hundred thousand dollars or more on these ads in a relatively small market where the advertising rates must be much lower than in large markets. I would not be surprised if $700,000 of ads in NY-22 is the equivalent of millions in big city markets. The ads are non-stop. This evening the ads were on TV during Special Report with Bret Baier:

The big breaking news in the "John Doe" anti-Conservative Wisconsin investigation is that the 7th Circuit Court of Appeals released previously sealed court exhibits detailing accusations made at the time the Wisconsin prosecutors commenced the proceeding. So you get screaming headlines such as these: Headlines Scott Walker Accused of criminal scheme What is not being reported, is that multiple judges have found that the alleged criminal conduct was not in fact criminal even if the factual allegations were true. Here is part of Federal Judge Renda's opinion, which remains in effect halting the John Doe investigation, in a case brought by two of the targets:
The standard to apply in these cases was recently made clear by the Supreme Court in McCutcheon. Any campaign finance regulation, and any criminal prosecution resulting from the violation thereof, must target activity that results in or has the potential to result in quid pro quo corruption…. It is undisputed that O‘Keefe and the Club engage in issue advocacy, not express advocacy or its functional equivalent. Since § 11.01(16)‘s definition of political purposes must be confined to express advocacy, the plaintiffs cannot be and are not subject to Wisconsin‘s campaign finance laws by virtue of their expenditures on issue advocacy….

In a press conference today, President Obama announced that the U.S. was relocating some personnel out of Iraq, and sending reinforcements for the U.S. Embassy in Baghdad. Obama also stated that there would be increased monitoring and surveillance of ISIL insurgents, and increased military support for Iraq, including joint operations centers in Baghdad. Additional equipment also would be sent, in addition to a "small number of American military advisors, up to 300." But, he emphasized, "American forces will not be returning to combat in Iraq" The U.S. is prepared, though, to take "precise" military action if circumstances warranted, but not to support "one sect" against another. As to failure to leave residual forces, Obama said "that was a decision made by the Iraqi government."

Some privileges are permissible topics for discussion on campus and in the media. For example, White Privilege is the obsession of some faculty and students. George Will pointed out that there is another privilege on campuses -- false or contrived claims of victim status.  Will did not argue that real victims, be it of actual racism or sexual assault, share some special privilege, but rather, that there are people who contrive or encourage others to falsely create victimhood where none exists. We see it in theories such as microaggression, where in the absence of proof of actual racism, critical race theorists find racism in routine everyday interactions where the participants do not even realize they are being "racist," much less have any racist intent. We see it in repeated instances of fake, self-inflicted "hate crimes" in which the victim is, in fact, the perpetrator. We also see it in the lowering of the standards of proof and definitions of what constitutes sexual assault. I think everyone agrees that sexual assault as used in the criminal law deserves condemnation and punishment. But colleges, under pressure from the Justice Department and supposedly feminist groups, have started using definitions of sexual assault that can reach absurd results.

what this window sticker means. Spotted it in the parking garage at Syracuse Airport on my return yesterday from Los Angeles....

From WaPo:
The United States Patent and Trademark Office has canceled the Washington Redskins trademark registration, calling the football team’s name “disparaging to Native Americans.” The landmark case, which appeared before the Trademark Trial and Appeal Board, was filed on behalf of five Native Americans. It was the second time such a case was filed. “This victory was a long time coming and reflects the hard work of many attorneys at our firm,” said lead attorney Jesse Witten, of Drinker Biddle & Reath. Federal trademark law does not permit registration of trademarks that “may disparage” individuals or groups or “bring them into contempt or disrepute.” The ruling pertains to six different trademarks associated with the team, each containing the word “Redskin.”