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06/26/2010

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It may also require a holistic view of the ways in which the regulators were totally captured.

One other question: are the lawyers working for "the firm," or the people at the top of the firm (who hire the lawyers) who have the most to gain from reckless behavior that assures massive short-term profits? Why do we pretend that there is some "firm" interest represented, when in fact in real life the lawyers are interested in continuing to get business allocated to them by a "control group" whose interests diverge from that of the firm as a going concern? It's "i'll be gone, you'll be gone," over and over again.

The best way to prevent accidents like BP is to make firm leaders feel some "pain" for skimping on safety. But that won't happen, so extensive regulation is needed.

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Maxwell L. Stearns discusses his book Public Choice Concepts and Applications in Law

Recent Books by Maryland Law Faculty

Book Cover: The People's Agents and the Battle to Protect the American Public: Special Interests, Government, and Threats to Health, Safety, and the Environment

The People's Agents and the Battle to Protect the American Public: Special Interests, Government, and Threats to Health, Safety, and the Environment
Rena Steinzor and Sidney Shapiro

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Book Cover: UPublic Choice Concepts and Applications in Law

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Maxwell L. Stearns and Todd J. Zywicki.

Book Cover: When is Discrimination Wrong?

When Is Discrimination Wrong?
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Mark A. Graber

Book Cover: On the Courthouse Lawn: Confronting the Legacy of Lynching in the Twenty-first Century

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Sherrilyn A. Ifill