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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.

Posted by William A. Jacobson on December 01, 2013 220 Comments
The post on Friday regarding Obama's lawlessness has generated some furious defense of Obama by one commenter, and even more furious pushback by other readers, An increasingly dangerous presidency. The defense of Obama, that no court has found him to have violated the law, is both wrong and off point. The problem with Obama is the completely political basis for his decisions whether to honor or ignore the law. For example, if granting a waiver helps him with political allies, he grants it; if not, not. This is not the rule of law, or the good faith exercise of administrative discretion, it is the use of discretion for political purposes. That in many, but not all, instances he can get away with it because of the separation of powers and the hesitancy of the judiciary to get involved in administrative decisions in no way justifies the conduct. Lawlessness includes a lack of predictability to enforcement of the law, and that is what we have in this administration. The prior post was based on Charles Krauthammer's column on lawlessness of the Obama administration. Here Krauthammer expands on his point, via RCP:

Posted by William A. Jacobson on December 01, 2013 23 Comments
The Obama administration just announced that it has met the completely arbitrary, dumbed-down goals it set for healthcare.gov. These goals were not what was supposed to exist on October 1, but what the administration believed it could meet and therefore met in order to declare the website fixed.  Operation Fixed Website: Feds will declare healthcare.gov fixed no matter what. https://twitter.com/ZekeJMiller/status/407148182011777024 https://twitter.com/amandacarpenter/status/407149347533361152

Posted by William A. Jacobson on December 01, 2013 7 Comments

From J: East St. Louis isn't too fond of O. Spotted today on I-64. Thanks for all you do. Happy Hanukkah.   ...

Posted by William A. Jacobson on November 30, 2013 8 Comments

I wasn't watching live because I didn't really care. But the rubbing-it-in that's going on is quite enjoyable to watch. (I was tempted to draw political analogies, but that would have cheapened the moment.) Good collection of video/gifs/photos at SB Nation. https://twitter.com/gregorydjohnsen/status/406945912863211520 https://twitter.com/japarsons/status/406946057298259968 https://twitter.com/sbnation/status/406943478870843392 https://twitter.com/AaronWorthing/status/406950865309007872 Good luck collecting: https://twitter.com/tjboyd15/status/406829975053291520...

Posted by William A. Jacobson on November 30, 2013 25 Comments
If Obama can do it, why can't I? A follow up to a prior question, What race is an illegal alien? Obama is pivoting back to immigration reform, which really amounts to an amnesty push, because without amnesty there could be "reform" of a wide variety of immigration issues. During a speech at DreamWorks, Obama curiously stated that he could tell who were immigrants based on their faces (transcript via RCP):
OBAMA: As I was getting a tour of DreamWorks, I didn't ask, but just looking at faces, I could tell there were some folks who are here not because they were born here, but because they want to be here and they bring extraordinary talents to the United States. And that's part of what makes America special. And that's part of what, by the way, makes California special, because it's always been this magnet of dreamers and strivers. And people coming from every direction saying to themselves, you know, if I work hard there I can have my piece of the American Dream.
I know exactly what he means. I spotted this immigrant from a mile away (the one on the left). Piers Morgan Mike Tyson Must have been the fear of deportation on his face:

Posted by William A. Jacobson on November 30, 2013 5 Comments
Days of Rage is just about every day in the anti-Israel movement. Today is was a Day of Rage over an Israeli proposal, still working its way through the Knesset, to relocate about 15% of the Bedouin who live in the Negev Desert from dispersed, mostly dilapidated housing built without permits into newer, more centralized housing also in the Negev. That plan has sparked the usual cries of Ethnic Cleansing from anti-Israeli international groups and Israeli leftists. In fact, no one is being cleansed. The vast majority of Bedouins will stay where they are, and none will be forced out of the area the Bedouins have inhabited in Israel. The Day of Rage has not received a lot of attention in U.S. media, or even on social media outside of the hastag #StopPrawerPlan. But not for lack of trying. AP reports:
Large protests over a plan to resettle nomadic Bedouin Arabs in Israel's southern Negev desert caused injuries Saturday and led to some arrests as well as condemnation from Prime Minister Benjamin Netanyahu. Protests focused on a bill that would move thousands of Bedouins into government-recognized villages. Opponents charge the plan would confiscate Bedouin land and affect their nomadic way of life, but Israel says the moves are necessary to provide basic services that many Bedouins lack and would benefit their community while preserving their traditions.

Posted by William A. Jacobson on November 30, 2013 13 Comments
Operation Fixed Website is about to get under way.
Tomorrow, the Obama administration will unleash a public relations campaign declaring healthcare.gov fixed: Obama administration officials said Saturday they were "on track" to have the problematic ObamaCare website running smoothly by their self-imposed Nov. 30 deadline. "With the scheduled upgrades last night and tonight, we're on track to meet our stated goal for the site to work for the vast majority of users," Centers for Medicare and Medicaid Services spokesman Aaron Albright told Fox News, in a statement. Administration officials have since announcing the deadline qualified expectations and outcomes by repeatedly saying the site would work for the “vast majority of people.” The Washington Post earlier Saturday reported the administration was prepared to announce Sunday that they have met deadlines for improving HealthCare.gov.
Fixed has been so far defined downward for healthcare.gov, that almost anything other than a 404 Error message is "fixed". Via NPR, How Will We Know If HealthCare.gov Is Fixed?

Posted by William A. Jacobson on November 30, 2013 64 Comments
Compensation means how much you get paid, right? Or payment for a loss? Or any of the other common usages, right? Reader Bronwyn was not happy when she learned that in Common Core mathematics, compensation means encouraging students to guess the wrong but easier answer, then teaching them how to compensate for the wrong answer to get to the right result:
My 4th grade daughter attends a Christian school here in Orange Co., Ca. I do not like their choice in a common core math book at all, but I have been particularly amused by the use of the term "compensation." The teachers actually had to send home an email because none of the parents had any idea what the term meant. I attached a copy of the definition in the book because it just seems so fitting during this Obama Administration. "compensation: you choose numbers close to the numbers in the problem to make the computation easier and then adjust the answer for the numbers chosen." All this under the lesson- Using mental math to multiply. This must be Obama's math! Here we parents thought it was how we got paid?
Here's the question posed to the students to which the featured image was the answer:

Posted by William A. Jacobson on November 30, 2013 4 Comments

In a campus culture devoted to giving everyone a trophy: The most common grade at many schools? “A” of course! Ignoring Failure in Higher Education LA Times Report: Getting into College is Easier Except for white males, whose Trophy Privilege has gone on long enough: Duke Lacrosse Rape Accuser Found...

Posted by William A. Jacobson on November 30, 2013 4 Comments

Voting for Obama "despite everything" was enough to get him through 2012. Spotted in Ithaca at the Wegmans shopping center....

Posted by William A. Jacobson on November 29, 2013 247 Comments

Charles Krauthamer observes the lawlessness of the Obama administration: Remember how for months Democrats denounced Republicans for daring to vote to defund or postpone Obamacare? Saboteurs! Terrorists! How dare you alter “the law of the land.” This was nonsense from the beginning. Every law is subject to...

Posted by William A. Jacobson on November 29, 2013 15 Comments
It may be the biggest Obamacare lie of all. Not that you can keep your health care plan if you like your plan. Not that you can keep your doctor if you like your doctor. Not all of the phony cost estimates and supposed efficiencies. The biggest lie of all is that 15-30 million additional people who will be enticed or shoved onto Medicaid will receive quality health care.  In reality, they will receive health care "insurance," but there will be few doctors willing to see them because the reimbursement rates are so low. I have mentioned before how, anecdotally, almost every doctor with whom I speak sings that same song, that Medicaid reimbursements are so low they either have to restrict or eliminate Medicaid patients. It's not just anecdotal.  Even The New York Times notes that the problem will become much worse under Obamacare, Medicaid Growth Could Aggravate Doctor Shortage (h/t @Drudge_Report):

Posted by William A. Jacobson on November 29, 2013 30 Comments

It will stand the test of time. Those who were willing to stand against Obamacare despite all the name calling, and who are proven to have been correct. Obama and Democrats now are scrambling to delay various portions of the Obamacare rollout, even though such delays when...

Posted by William A. Jacobson on November 27, 2013 18 Comments
Yesterday we reported that Iranian officials were furious that the Obama administration's "fact sheet" spun the nuclear deal in ways not agreed-upon.  The Iranians are crowing that their right to enrich uranium was confirmed while the Obama administration is saying the opposite. Now comes word that the "deal" is not actually final, that there are details to be worked out, and that there is a window before the agreement comes into effect. https://twitter.com/DanRiehl/status/405820620132200448 US now indicates Iran interim deal wasn’t quite finalized:
Iran is currently enjoying a “window” of time before the six-month deal signed in Geneva early Sunday goes into effect, during which it is not bound to take any credible steps toward disabling its ability to produce a nuclear weapon, the State Department acknowledged Tuesday. State Department spokeswoman Jen Psaki said that the six-month interim period, during which Iran would take steps to rein in its nuclear program in exchange for sanctions relief, has not yet begun. Furthermore, there are still a number of details to be worked out, she said, without specifying what points had yet to be finalized.

Posted by William A. Jacobson on November 27, 2013 7 Comments
This is a follow up to the undercover video by James O'Keefe's Project Veritas in which Chris Tarango, Texas Communications Director for Enroll America, was caught offering to help make a connection between the non-profit Obamacare enrollment group and what he thought was a Democratic Party operative. The operative was part of O'Keefe's sting operation. The video gave rise to a challenge to Enroll America's non-profit status, Fox News reported:
On Friday, a self-described nonprofit, nonpartisan government accountability group filed a complaint with the IRS that Enroll America was violating its tax-exempt status by participating in partisan politics, citing the Project Veritas video as evidence. The group, Cause for Action, has also written a letter to Texas Attorney General Greg Abbot, asking him to investigate whether Enroll America and other groups have violated the state’s laws and the IRS code.
Now Tarango has resigned according to O'Keefe's website:

Posted by William A. Jacobson on November 27, 2013 34 Comments
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Posted by William A. Jacobson on November 27, 2013 15 Comments

It's hard being a principled member of the anti-Israel Boycott, Divest and Sanction movement. With Israel being a leader in computer, medical and other technologies, one would have to enter a time machine back to the 1950s to truly boycott Israeli products. The Cornell Students For Justice...

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