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August 20, 2007

Comments

michael webster

Lawerence, I have enjoyed these posts. But I don't understand how the "sophisticated investors" defence got so entrenched.

Sarah Zanoff

Michael, I think the sophistication defense is entrenched b/c the legal system in general is too tolerant of defense attorneys using the "blame the victim" approach. In the securities context, its easier to make an unsophisticated investor look sympathetic to the arbitration panel. The arbitration panel expects counsel for the brokerage house to try to make the investor look unsympathetic. Even though the sophisticated investor argument has no legal basis, it is difficult to have the evidence excluded, espeically in arbitration where the arbitrators think they should focus on fairness more than the actual law.

Beverly26Davenport

The loans seem to be very useful for people, which are willing to ground their company. As a fact, it's not very hard to get a student loan.

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