The Board of Editors is pleased to present Issue 4 of the 2012 Volume of the Illinois Law Review.
First, Professors Fisch and Roiter argue that proposals requiring a floating Net Asset Value for money market funds are misguided. Instead, they argue that the more important regulatory question is what happens if a money market fund breaks the buck. The Article proposes two procedural reforms designed to provide flexibility and predictability in these circumstances by allowing a money market fund to convert to a floating NAV and allowing investors to redeem most of their shares without awaiting completion of a fund’s liquidation.
Next, Professors Paul J. Heald and Susannah Chapman challenge the conventional wisdom that the Twentieth Century was a disaster for crop diversity. Rather, their data suggest that patent law has not reduced crop diversity, nor is it likely to have significantly contributed to the introduction of new vegetable varieties. This Article goes significantly beyond our prior three related postings of preliminary data.
Following, Professor Hillel Y. Levin introduces and explores an approach to statutory interpretation, which posits that judges interpreting ambiguous statutes are and should be constrained by the understanding and expectations of the contemporary public as to the law’s meaning and application.
Next, Professor Jessica L. Roberts identifies an unresolvable tension between the anti-discrimination approach embraced by health-care reform advocates and the current practices of the private, for-profit health-insurance industry, which the Patient Protection and Affordable Care Act (ACA) seeks to preserve.
The issue also includes the David C. Baum Memorial Lecture on Civil Rights and Civil Liberties by Judge Vaughn R. Walker, who argues that there is no fixed “strike zone” for judges to use and that they must rule based on the facts and circumstances of the cases before them.