March 5, 2017

Leashes Come Off Wall Street, Gun Sellers, Polluters and More

By Eric LIpton and Binyamin Abbelbaum

Professor Michael Herz

March 5, 2017 The New York Times WASHINGTON — Giants in telecommunications, like Verizon and AT&T, will not have to take “reasonable measures” to ensure that their customers’ Social Security numbers, web browsing history and other personal information are not stolen or accidentally released.

Wall Street banks like Goldman Sachs and JPMorgan Chase will not be punished, at least for now, for not collecting extra money from customers to cover potential losses from certain kinds of high-risk trades that helped unleash the 2008 financial crisis.

Read more in The New York Times

“It is not a relevant or adequate defense to say that the president told us to do it,” said Michael Eric Herz, a professor at the Benjamin N. Cardozo School of Law in New York.