Word: lawness
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Dates: during 1980-1989
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...Federal law requires that traders and brokers must try to get the best possible price for their customers when executing trades. But because the deals are conducted orally, illegal trades are difficult to catch. When four FBI agents masqueraded as commodities dealers, however, they were able to secretly tape-record the transactions taking place at the Board of Trade and ! the Mercantile Exchange...
...biggest fear among law-abiding Chicago traders and brokers is that evidence of shady dealings will inspire Washington to clamp down on the freewheeling markets. Already Texas Democrat Kika de la Garza, chairman of the House Agriculture Committee, plans to investigate the Chicago exchanges. Congress could decide to beef up the relatively tiny agency that oversees the Chicago markets, the Commodity Futures Trading Commission, or transfer the authority to the Securities and Exchange Commission. "Figuratively speaking, at least," laments a futures broker, "there'll be police in the pits from...
...months, but Mistretta's lawyer argued that the sentencing system violated the Constitution by blurring the separation of powers among the branches of Government. Congress had, for instance, given both legislative and executive functions to a commission within the judicial branch. The commission's recommendations have the force of law unless Congress vetoes them within six months. Justice Harry Blackmun's majority decision admitted that this setup is an "unusual hybrid" but said Congress had been "practical" in asking experts to handle a technical task...
Although the opponents have lost the separation-of-powers argument, they have already filed numerous other cases contending that the restrictions on sentencing violate due process of law. The Mistretta case, says President Ephraim Margolin of the National Association of Criminal Defense Lawyers, is merely the "opening shot in a lengthy campaign...
...final installment of his fiction trilogy, Professor of Law Derrick Bell devises a scheme to blow up the Harvard Coop when it won't invite him to hold a book-signing/wine and brie party there. Bell is awarded a $10 million contract by Paramount Pictures to turn the episode into a screenplay...