Supreme Court Sides With Banks
NPR Marketplace featured Professor Joseph Grundfest commenting on a Supreme Court ruling that Wall Street bankers and brokers planning IPOs are immune from antitrust lawsuits:
... former SEC commissioner Joseph Grundfest says investors who feel cheated by what they regard as Wall Street collusion have the option of taking their case to the SEC.
Joseph Grundfest: The important thing is not how some plaintiffs' lawyers wish the law might be in a way that could benefit them pretty substantially. The question for the Supreme Court is, what is the law as written today?
Grundfest says those who think anti-trust rules should apply will have to get Congress to change the law.