Volume 91: Issue 3

Public Choice Theory and the Private Securities Market

By Zachary J. Gubler

One of the most important developments in the capital markets over the past decade presents a puzzle that needs to be solved. The development is the dramatic expansion of the unregulated market for private securities in the United States. The puzzle is that public choice theory, the dominant theory for explaining SEC behavior, fails to account for it. After all, the traditional public choice account predicts that the SEC will… READ MORE

91 N.C. L. Rev. 745 (2013)

The Health Care Cases and the New Meaning of Commandeering

By Bradley W. Joondeph

The Supreme Court’s decision in the Health Care Cases to sustain the central provisions of the Affordable Care Act (“ACA”) was hugely important in several ways. Most commentators have focused on the Court’s upholding of the ACA’s minimum coverage provision. But the Court’s Medicaid holding—that the ACA coerced (and thus commandeered) the states by making their preexisting Medicaid funds contingent on the states’ expanding their programs—may actually be more significant… READ MORE

91 N.C. L. Rev. 811 (2013)

Globalism, Public Policy, and Tax-Exempt Status: Are U.S. Charities Adrift at Sea?

By Nicholas A. Mirkay

This Article wrestles with whether charitable organizations’ international activities can or should impact such organizations’ domestic tax exemption. It addresses the issues raised by such international activities—if those activities contravene current U.S. foreign policy or international law is a charity’s tax-exempt status adversely affected? Does such contravention implicate the public policy doctrine? On one hand, this Article agrees with other legal scholars that the public policy doctrine needs congressional attention,… READ MORE

91 N.C. L. Rev. 851 (2013)

Retaliatory Disclosure: When Identifying the Complainant is an Adverse Action

By Jamie D. Prenkert, Julie M. Magid & Allison Fetter-Harrott

Sometimes the possibility of being publicly identified as a complainant will be enough to discourage a person from complaining. That is especially true when being identified as a complainant exposes her to a greater likelihood of reprisal. This paper addresses the circumstances when such publicity can be deemed materially adverse, such that it ought to be sufficient to support a claim of retaliation. We focus on the particular context of… READ MORE

91 N.C. L. Rev. 889 (2013)

The New Park Doctrine: Missing the Mark

By Andrew C. Baird

This Comment focuses on the recent and increasing link between the Park method of conviction and the accompanying exclusion penalty, and examines the implications of this combination for corporate counsel and executive officers in the health care and pharmaceutical industries. The types of offenses that trigger exclusion eligibility are generally known as public welfare offenses, a class of offenses that fits neatly into other forms of criminal offenses (“such as… READ MORE

91 N.C. L. Rev. 949 (2013)

On the Pulse of America: The Federal Government’s Assertion of Jurisdiction Over Electric Transmission Planning and its Effect on the Public Interest

By Alexander T. Dadok

Electricity is essential for our modern life. Currently, our country must make significant investments in its electricity infrastructure to continue efficient and safe delivery of electricity to customers. Planning how to invest, however, is fraught with controversy. That controversy is especially present in deciding whether to build additional transmission lines or make non-transmission investments such as more local “distributed” electric generation. The controversy in planning is amplified by a controversy… READ MORE

91 N.C. L. Rev. 997 (2013)