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Ukraine\u27s Victory in the UK Supreme Court
More than three years after hearing argument, the U.K. Supreme Court finally handed down a decision in Russia\u27s $3 billion bond dispute with Ukraine. The dispute probably shouldn\u27t be in a domestic court at all (functionally, it is a dispute over a bilateral loan between sovereign states). But that\u27s where it is, and the U.K. Supreme Court ruled in favor of Ukraine\u27s duress defense, which now can go to trial. Our guest, Nate Oman (William & Mary) is a guru of contract law (and many other things). Nate helps us think through Ukraine\u27s duress argument, the U.K. Supreme Court\u27s rulings about the borrowing capacity and authority of states and their officials, and how the law of restitution fits into all of this
Regulating Crypto, On and Off the Chain
Cryptocurrency had its most turbulent year in 2022. The collapse of TerraUSD ushered in a broad market decline, and the FTX debacle brought new publicity and scrutiny to crypto’s woes. Both events will likely spark new regulation and legislation.
Policymakers and regulators should regulate market structures like exchanges. While many cryptocurrencies are extremely transparent and require little if any additional disclosures, others are plagued by serious informational asymmetries. An exchange might allow participants to trade Bitcoin, and regulators need to protect investors who rely on such exchanges. Investors may face informational asymmetries regarding the operation and safety of the exchange. Nevertheless, the exchange is unrelated to traded assets like Bitcoin and Ether. Thus, we could consider securities and exchange regulation to be ancillary to crypto itself.
Regulators should focus on such ancillary regulation of market structures and resist calls to impose minimum-product standards on crypto. The FTX debacle involved the soundness of the exchange and not the soundness of mainstream cryptocurrencies like Bitcoin. Even before the collapse of TerraUSD, prominent voices called for stablecoins to be brought within the tightly regulated world of banks and other insured depository institutions. Even if such moves could have protected investors in TerraUSD, protection is not necessarily sound policy. At the present time, stablecoins do not function as methods of payments. Moreover, extending banking regulation to stablecoins almost certainly would mean governmental support if not outright deposit insurance. Such a move would also make many stablecoins impractical if not illegal. For now, regulators should let developers and investors continue to take risks in the design of stablecoins and other crypto rather than imposing direct regulation
Divided Court Finds Generic Redactions Sufficient to Admit Confessions of Non-Testifying Codefendants
Simplifying the Implementation of Evidence-Based Teaching Strategies with Generative AI
Despite proven benefits to students’ engagement and retention, legal educators can find it challenging to implement evidence-based pedagogical approaches in their courses. These science-backed teaching strategies can be time-consuming and difficult to develop, but generative AI gives us an opportunity to incorporate effective pedagogy more expeditiously. In this program, we will introduce evidence-based educational practices that can be more easily implemented with generative AI in research & writing courses. This program will explain the pedagogical benefits of using these practices and demonstrate examples of using generative AI to simplify their implementation. Attendees will also be able to practice using generative AI on examples they could apply in their own classes
An Interview with Judith M. Conti
...there are many lawyers who look at the law as the limits of what they can do. And instead, I feel like my education taught me to think beyond the limits of what the law is and more about what the law should be and how we can achieve that kind of change. -- Judy Conti.
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This interview took place in the Reeder Media Center at William & Mary on March 8th, 2023, from 2:00 to 3:00 pm. The interview began with Conti discussing her Catholic and liberal upbringing which developed a strong need to give back through public service. She decided that she wanted to go to William & Mary’s Law School because it was a school based on community, rather than competition. She then discussed some of the professors and classes that had the largest impact on Conti as a student. Conti then shares why “Big Law” was not for her and how she knew public service was for her. Conti then covers the revival of the Women’s Law Society as a 1L, co-founding the Journal of Women and the Law, and Professor Jayne Barnard’s advice and encouragement for women in the legal field. Finally, Conti shares about her work after law school, describing cases that inspired her passion for labor and employment law and the co-founding of the DC Employment Justice Center. Conti concludes with remarks about how she continues to carry with her the William & Mary tradition of the citizen lawyer and emphasizing community.https://scholarship.law.wm.edu/oralhist_all/1002/thumbnail.jp
An Interview with Jayne Barnard
But I think William & Mary Law School has got a huge number of very entrepreneurial students and faculty members who make things happen. And not because somebody told them it had to be done, but because they just decide that they\u27ll do it. -- Jayne Barnard.
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This interview took place in the Reeder Media Center at William & Mary on April 27th, 2023, from 12:00 to 2:00 pm. It begins by discussing Barnard’s career prior to law school, and how there was a movement of women to law schools to find careers where they would be better recognized for their hard work. She discusses joining Jenner and Block, and what it meant for them to have women already working there. She discusses her return to government by working for the mayor of Chicago, Harold Washington, and how she “cleaned up” the law department. From there, she moves to how she came from Illinois to Virginia to join William & Mary faculty in 1985. Barnard then shares her many roles at the law school, from the classes she taught to being a faculty advisor for multiple journals. Through these roles, she highlights her commitment to supporting women, which is further revealed as she talks about her involvement in the ACLU, William & Mary’s Faculty Women’s Cause, and role as Coordinator of the 100th Anniversary of Women at William & Mary. She then discusses her work in corporations, business, and white-collar crime, coming to a head in her article about victim impact statements which helped in passing the Crime Victims’ Rights Act of 2004 and got her a seat in the courtroom during the Bernie Madoff case. The interview finishes with Barnard sharing a few different stories and comments about the general community and entrepreneurship of the students and faculty of William & Mary Law School.https://scholarship.law.wm.edu/oralhist_all/1004/thumbnail.jp