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Josh Blackman @JoshMBlackman
, 3 tweets, 3 min read Read on Twitter
This language about curing "taint" from Abbott v. Perez seems tailor-made for a citation in travel ban opinion. "Presumption of legislative good faith" seems very similar to "presumption of regularity." J. Alito mentioned this point deliberately during his hand-down. #SCOTUS.
Similar sentiment from @dorfonlaw
"Meanwhile, I fear further inconsistency with respect to taint, perhaps as early as tomorrow or Wednesday, in the Court's anticipated ruling in the Travel Ban Case." #SCOTUS dorfonlaw.org/2018/06/at-sco…
Relatedly, Perez offers another way another way to rebut allegations of "taint" and animus: demonstrate that decision was motivated by desire to end "expensive and time consuming" litigation. This language will be cited in future litigation over #DACA rescission. #SCOTUS
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1/ I am always grateful for sober and careful analyses from @charlie_savage about breaking legal issues. Read this piece to learn about potential congressional authorizations for building the wall with emergency powers.
2/ For example, the President could reallocate funds already appropriated to build border "fences"--barriers that have been authorized by statute, but not yet built.
3/ Moreover, the statute that allows Congress disapprove of the emergency declaration by joint resolution runs afoul of INS v. Chada. Justice White's warning continues to prove accurate
Read 6 tweets
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1/ Update in Obamacare litigation. In November, I predicted the Democratic-controlled House would retain Don Verrilli to defend ACA.
2/ Tonight--after California filed its notice of appeal--Don filed his notice of appearance on behalf of the House. Once again he will have the responsibility of defending Obamacare. What did I say? Groundhog Day.
3/ I've posted the opposed motion to intervene here. Intervenor States take no position. scribd.com/document/39677…
Read 8 tweets
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.@washingtonpost profile of @FedSoc recreates "Scene at the Signing of the Constitution of the United States" with the Justices and modern political players. Very well done. washingtonpost.com/news/magazine/…
The Constitution also recounts the Obamacare origin story at the Mayflower with me, @RandyEBarnett, @ToddGaziano, Nate Stewart, and others #Unprecedented
The article accurately explains that the value of @FedSoc conventions is not in the panels, but in the hallway of the Mayflower.
Read 3 tweets

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Hey @MichaelKitces and @ken_askew

Regarding, this: some thoughts. There are many issues here - its a complex, nuanced topic and often gets bogged down in the minutia, but here goes nothing:
Traders bought difficult to value, thinly traded, tough to mark assets - that allowed banks room to mess around (commit fraud). It looked great pre-crisis, when marks were accurate enough while the underlying assets were booming.

ritholtz.com/2008/10/unders…
Once prices began to decay and volatility kicked in, all of that changed.

These Marks ranged from “hopeful” to “delusional” . . .
Read 10 tweets
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प्रणाम - रघु राम की नगरी अयोध्या से।

#travel #Ayodhya
Journey of #Ayodhya begins with Litti Chokha at Guptaar Ghat #travel #vegetarian #incredibleindia
Sri Ram Paduka at Guptargarhi or Chakrahari Tirth at #Ayodhya #travel #indology
Read 43 tweets
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I've been out of the game a while, #SOFR set to replace the #LIBOR.
Wow.
This actually makes some sense to me. Secured Overnight Financing Rate is recorded though the Federal Reserve. I haven't looked much into it, seems very similar to the prime rate from what I have seen as of yet.
apps.newyorkfed.org/markets/autora…
I always wondered why the London International Bank offered Rate was such a dominate index in American banking. Sometimes COFI (cost of funds index) or a few various Treasury indexes would pop up but its almost always the Liber.
Read 8 tweets
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UNFAITHFUL SHEPHERDS

"Many years ago, the then president of The National Council of Churches warned that the danger of the great religious awakening taking place in our country, might become fanatical and be carried into our political and business life!
"Perhaps this was a fair assessment, that is, if you conflate #Christian #Zionism with religious awakening. Unfortunately, these "fanatical" #Evangelicals have 0 faith in the #Christian religion to which they give empty lip service--while paying homage to those who hate #Christ.
"For lack of faith in the actual #Bible, #Evangelicals make Scofield’ Notes, (Scofield! A drunkard and a con-man allied with the Satanist, Darby) --#Evangelicals have turned Scofield’s NOTES into a DIABOLICAL FORCE in our #national life.
Read 177 tweets
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(THREAD-- 53 tweets) For months, we have heard from the anti-Mueller, pro-Trump forces that there was no collusion, and even if there was, collusion isn’t a crime.
1/ Pro-Mueller forces have typically responded by saying that collusion in any case is impeachable as a *political* matter, and sometimes by pointing to at least one possible act of “collusion” that *would* be criminal
2/ --participating in the actual hacking of the DNC and Podesta computers. (That would be a violation of the federal Computer Fraud and Abuse Act.)
Read 56 tweets
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I think I want to talk today about what it's been like starting a partnership/fund from scratch.
Let's start with background. I've always wanted to do this. Wasn't sure 35 would be right age but here we are.
I've been into investment management since I was 19 in 1999. Ran the undergrad portfolio. Watched it go down 70% in 2000-2001.
Read 30 tweets

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