Libertarian law professor Richard Epstein discusses New York’s Martin Act, the elastic securities fraud law whose powers have been wielded by Eric Schneiderman, Eliot Spitzer, and Andrew Cuomo, among others. [Troy Senik, Ricochet podcast] Earlier here.
Months of agitation promoting a government investigation of supposedly wrongful advocacy on the issue of climate change have begun to pay off. As Holman Jenkins [paywall] notes, purportedly levelheaded Democrats and environmentalists are now jumping on the bandwagon for a probe of possible unlawful speech or non-speech by energy companies and advocacy groups they’ve backed. Perhaps the most remarkable name on that list is Hillary Clinton, who said the other day in New Hampshire, referring to Exxon, “There’s a lot of evidence that they misled people.” That’s right: Hillary Clinton, of all people, now wants to make it unlawful for those who engage in public controversy to mislead people.
The first high-profile law enforcer to bite, it seems, will be Eric Schneiderman, whose doings I’ve examined at length lately. “The New York attorney general has launched an investigation into Exxon Mobil to determine whether the country’s largest oil and gas company lied to investors about how global warming could hurt its balance sheets and also hid the risks posed by climate change from the public,” reports U.S. News. Show me the denier, as someone almost said, and I will find you the crime: “The Martin Act is a nearly empty vessel into which the AG can pour virtually any content that he wants,” as Reuters points out. More on the Martin Act here and here.
At Forbes, Daniel Fisher notes the possible origins of the legal action in an environmentalist-litigator confab in 2012 (“Climate Accountability Initiative”) in which participants speculated that getting access to the internal files of energy companies and advocacy groups could be a way to blow up the climate controversy politically. Fisher also notes that Justice Stephen Breyer, in the Nike v. Kasky case dismissed 12 years ago on other grounds, warned that it will tend to chill advocacy both truthful and otherwise by businesses if opponents can seize on disagreements on contentious public issues and run to court with complaints of consumer (or presumably securities) fraud.
Perhaps in this case chilling advocacy is the whole point. And very much related: my colleague Roger Pilon’s post last week, “Whatever Happened to the Left’s Love of Free Speech?“; Robert Samuelson (“The advocates of a probe into Exxon Mobil are essentially proposing that the company be punished for expressing its opinions.”)
- Arkansas: “‘Corruption of Blood’ Amendment Withdrawn After House Supporter Is Reminded What Century It Is” [Above the Law]
- George Zimmerman-Trayvon Martin case heads for trial [TalkLeft, Doug Mataconis, and Richard Hornsby via Megan McArdle on evidentiary standards, earlier]
- Is New Hampshire citizens’ group harassing town parking meter enforcers, or monitoring their work? [Union Leader, ABA Journal, Reason]
- New York politicos quarrel over Hank Greenberg suit, overbroad Martin Act is to blame [Bainbridge]
- Enforcement grabs higher-ups in Ralph Lauren Argentine customs bribery case [FCPA Professor, earlier]
- Who stole the tarts? “Mom has son arrested for stealing Pop-Tarts” [Lowering the Bar; Charlotte, N.C.] Tip from Georgia cops: avoid situations where you might have to cling to hood of moving car [same]
- “Omaha officers told: Don’t interfere with citizens’ right to record police activity” [Omaha World-Herald via @radleybalko (“Good work, Omaha.”)]
My new op-ed at the New York Post looks at the history of Spitzer-to-Cuomo-to-Eric Schneiderman prosecutorial overreach and asks: how exactly did the New York Attorney General come to have so much power with so little constraint? (& welcome Instapundit, Real Clear Markets, Timothy Carney/Examiner, CEI readers)