The AIG suit is over, and the shareholder who was zeroed out by the government won a judgment without damages.  These kinds of moral victories are cropping up against the government: a Georgia judge just ruled that the SEC's ALJ program was unconstitutional, but easily fixed.  The Free Enterprise Fund held that PCAOB was illegal, but not in any way that would undo what it had achieved.  And now AIG.  A right without a remedy isn't supposed to be a right at all, but it is true that this is incremental discipline of the government for business regulation excesses.  That won't make any of these plaintiffs happy, however.

Administrative Law, Finance, Financial Crisis, Financial Institutions | Bookmark