WHEN, a couple of years ago in this space, I mentioned how two of the top migraine docs in the world were looking for locals to aid their research here in Pasadena, it apparently really helped in terms of turnout, as they got dozens of migraineurs together at the Huntington Medical Research Institutes for a study.
Now Michael Harrington, M.D., Ch.B., FRCP, resident Scotsman at HMRI, and Robert Cowan, M.D., former Pasadena neurologist, a migraineur himself, now the mainstay of the renowned Keeler Center for the Study of Headache in Ojai, are back at it this Sunday here in town.
I wouldn't do this if I hadn't been there myself. But I have, and while a migraine's not brain cancer, it feels like it. I guess it feels worse. And then I was a guinea pig for Mike, chronicled in Walt Mancini's famous pictures of me in the paper getting a spinal tap. And I was a patient of Rob's, and he both detoxed me from all the meds I was on – turns out you can be an Excedrin junkie, and that even over-the-counter products can cause rebound headaches – as well as essentially curing me of constant migraines.
I still get the occasional one – but far less frequently, and far less painfully. So I encourage you or any sufferer you know to head for HMRI, 99 N. El Molino Ave., Pasadena, this Sunday from 2 to 3:30 p.m. Mike and Rob believe they have found a central mechanism in the body that causes migraines and need more people for a new study. It's not a drug trial and doesn't involve changing any treatment you're currently on.
If you're selected, you'll get a nice token – $150 – after the study for your time. Plus, you'll get to kvetch with others who have been through what you have. And that's a kind of headache relief right there. To learn more, contact Danielle Fisher at (206) 330-9165 or write migraine@hmri.org.
Tweet Public Editor Larry Wilson @publiceditor.


text:
January: Recommit, run, ride for good causes by Carin Schoppmeyer | January 7, 2021 at 1:00 a.m.
NWA Democrat-Gazette/DAVID GOTTSCHALK Members of the Northwest Arkansas Dream Keepers and friends carry a banner Monday, January 21, 2019, in the annual Martin Luther King Jr. Freedom March to the campus of the University of Arkansas in Fayetteville. Participants in the march, sponsored by the Northwest Arkansas Martin Luther King, Jr. Council, began near the corner of Razorback Road and Martin Luther King, Jr. Boulevard and marched, sang and chanted to the Arkansas Union for the Dr. Martin Luther King, Jr. Vigil presented by the University of Arkansas Associated Black Student Association with the Associated Student Government. The keynote speaker was Angela Mosley Monts, assistant vice chancellor for Diversity and Inclusion in the Office for Diversity and Inclusion at the university.
5K Tutu Run and 1/4 Marathon
Western Arkansas Ballet
16 9 a.m. --Western Arkansas Ballet will host its seventh annual 5K Tutu Run and 1/4 Marathon at the Greg Smith River Trail in Fort Smith. Entrants can run or walk a 5K or quarter marathon. Race is chip-timed, and participants will receive a finisher's medal.
Awards will be given for top three male and female participants plus age division winners. Pre-registration fees are $25 for the 5K and $35 for the 1/4 Marathon or $35 and $45, respectively, on race day. Pancakes and Plies lets runners eat all the pancakes they want after the race!
Register at: runsignup.com/Race/AR/FortSmith/WesternArkansasBalletTutuRu.
Information: (479) 785-0152 or waballet.org.
Northwest Arkansas MLK Council
Recommitment Event
18 7 p.m. -- The 25th annual Recommitment event, sponsored by the Northwest Arkansas Martin Luther King Jr. Council, will be hosted online by the University of Arkansas. Kevin Dedner, founder and CEO of Hurdle mental health care, will speak.
Information: (479) 409-1139 or [email protected]
Frozen Toes 5K/15K
Kessler Mountain Regional Park
9 a.m. Jan. 23 or Jan. 24-31 -- The 2021 Frozen Toes 5K/15K trail run at Kessler Mountain Regional Park in Fayetteville will give runners the option of participating in the in-person Frozen Toes Race beginning at 9 a.m. Jan. 23 or the Frozen Toes DIY Challenge Jan. 24-31. Organizers say the challenge option "entails completing the 5K or 15K on the marked course at Kessler Mountain any time during the week of the challenge."
The in-person race will be limited to 200 runners with staggered start times of groups of 15 to help maintain social distancing. "The virtual challenge is a great option that we want to see more people sign up for," says Tiffany Hoover, Fayetteville Parks and Recreation assistant recreation superintendent.
The single-track trails of Mount Kessler are technical in most areas, "but the views are worth every step of the course," and participants are encouraged to "take a break from the pavement and give trail-running a try." Technical trails include "rocky, rooty sections and steep climbs," says Hoover.
Both options include a participant goody bag, featuring the "infamous Frozen Toes Socks" -- instead of a typical race T-shirt -- and the finisher medal. Registration is $30.
The race will include overall and age group awards, but the challenge will not feature awards. Both options will require runners to be self-sufficient (meaning no on course water stations).
Updated maps for 2021 will be posted Jan. 8.
Information and registration: www.fayetteville-ar.gov/recreation.
Deadline to submit February event information is Jan. 15. We want to include your fundraising event whether it's online or in person! Send event information to Carin Schoppmeyer at [email protected]
NWA Democrat-Gazette/ANDY SHUPE Runners begin the fourth annual Frozen Toes 15K trail run Saturday, Feb. 16, 2019, at Kessler Mountain Regional Park in Fayetteville. The race is organized by the Fayetteville Parks and Recreation Department and kicks off the Fayetteville Race Series.

redpajama_set_name: RedPajamaCommonCrawl


text:
Michael Robertson (born 14 April 1983) is a former Scotland international rugby league footballer. His usual position was on the  but he could also play as a  with equal ability. He played for the London Broncos in the Super League, and the Canberra Raiders and Manly-Warringah Sea Eagles in the NRL. He was considered a player with natural pace and try scoring ability.

Background
Robertson was born in Wellington, New South Wales, Australia.

Playing career
Robertson played junior football with Valley Dragons in the ACT, and was graded to the Canberra Raiders, making his first-grade début in 2001 against the North Queensland Cowboys.

After signing to play for the Manly-Warringah Sea Eagles from the start of the 2006 NRL season, Robertson cemented his spot on the left win for Manly and played in the 2007 NRL grand final defeat by the Melbourne Storm.

He scored three tries in the Manly club's record breaking 40-0 2008 NRL Grand Final victory over Melbourne, becoming the first player to score three tries in an Australian Grand Final since Steve Renouf did so for the Brisbane Broncos in the 1997 Super League Grand Final. He would then go on to play in Manly's 28–20 win over English Super League champions the Leeds Rhinos in the 2009 World Club Challenge played at Elland Road in Leeds.

Normally a left side winger, suspension and injuries to Brett Stewart saw Robertson play most of the 2009 NRL season at fullback for the Sea Eagles. When Stewart suffered a season ending knee injury in Round 1 of the 2010 season against the Wests Tigers, it was expected that coach Des Hasler would move Robertson to fullback for the season. However, the pre-season signing of former North Queensland Cowboys utility back Ben Farrar allowed Hasler to keep Robbo in his referred wing position and play Farrar at fullback.

After débuting for the Manly club in round 2, 2006 Robertson played in 139 consecutive club games until suffering a knee injury in a two try performance against the Gold Coast Titans in round 10 of the 2011 season. The injury was expected to keep Robertson out only for a single game, but he ended up missing three games. He returned to the club in Manly's 22–18 win over Parramatta at Brookvale Oval

Towards the end of the 2011 NRL home and away season, Robertson announced that he would be leaving Manly after six years with the club. Robertson would fulfill a long-held ambition to play in England when he would join the Super League club the London Broncos in 2012. Until then Robertson had vowed he would take his place on the wing with Manly in a bid to win his second NRL premiership with Manly-Warringah, which they achieved by taking out the 2011 NRL Grand Final over the New Zealand Warriors 24–10.

Robertson's last play for Manly-Warringah was a goal kick after the final siren of the 2011 Grand Final converting captain Jamie Lyon's try giving the departing winger a perfect 2/2 goal kicking record in the NRL (having also kicked a goal in Manly's 42–8 win over North Queensland 3 weeks earlier in the Qualifying Final) to go along with his 83 tries from 209 first grade appearances for Canberra and Manly.

Super League
Robertson made his first appearance on the wing for the London Broncos on 14 February 2012. He scored a try on début in a 24–34 loss to St. Helens at the Stoop Stadium in London.  Robertson signed a 2-year deal midway through the 2012 season.  In total, Robertson made 41 appearances for London scoring 18 tries.

Representative career
Due to his Scottish heritage, Robertson made himself available for Scotland's 2008 Rugby League World Cup campaign. Robertson was named in the Scotland squad for the World Cup and played all three of their games at , scoring a try in the team's 18–16 win over Fiji at Bluetongue Stadium in Gosford.

Robertson's good form to start the 2010 NRL season scoring 7 tries in 8 games in his preferred position of wing was rewarded with selection for Country Origin in the annual City vs Country Origin match in Port Macquarie. Robertson, who is normally a left winger for the Sea Eagles, played on the right wing and scored a try in Country's 36–18 win over City.

References

External links
(archived by web.archive.org) Manly Sea Eagles profile
(archived by web.archive.org) NRL profile

1983 births
Australian rugby league players
Australian people of Scottish descent
Scotland national rugby league team players
London Broncos players
Manly Warringah Sea Eagles players
Canberra Raiders players
Country New South Wales Origin rugby league team players
Prime Minister's XIII players
Rugby league fullbacks
Rugby league wingers
Living people

redpajama_set_name: RedPajamaWikipedia


I have to admit that until recently, Frida didn't really have any instruments. Her "baby" instruments such as shakers were passed on to her cousin long ago as she stopped showing any interest in them, and I longed to introduce some well-made and beautiful instruments into her life but couldn't decide where to start.
So when the lovely Melody at Little Acorns to Mighty Oaks asked me if we wanted to review a Decor Rainbow Glockenspiel I leapt at the opportunity, as I had already been eyeing up the selection of beautiful glockenspiels on her website.
We really, REALLY love this Glockenspiel. It is unspeakably beautiful in real life – photos don't do it justice! – and it makes the most beautiful sound. From the moment we took it out of its box Frida has not stopped using it.
The keys are removable, which adds another wonderful dimension to the instrument as you can create smaller collections of keys to play with – great if two children both want to play. The colours make it easier for young children to learn to play simple tunes by score, and the glockenspiel comes with a booklet which includes some songs. You could also make your own colour coded music guides, something I will do when Frida is older.
The glockenspiel itself is stunning and obviously well made. For those of you familiar with Grimms wooden toys I would say the colour and quality of the wood is similar. It has a lovely unvarnished texture, and feels warm and inviting to touch.
It comes with two beaters, one hard and one soft, which really change the sound of the instrument depending on which is chosen. The hard beater produces a clear, crisp note, whereas the soft beater creates a dreamy, echoing sound.
Decor instruments (Decor is the brand name – it doesn't mean they are for decoration only!) are made in Germany by a community for adults with special needs, so the glockenspiel hits the ethical note for me too, something which I try to consider when making purchasing decisions.
When Melody asked me if I wanted to review the glockenspiel, I expected that we would love it. However I wasn't expecting to love it so much that I immediately ordered another glockenspiel from the same brand to give Frida for her birthday (this time in the pentatonic scale rather than the diatonic – each have a distinctive sound). High praise indeed, especially as I thought I was done with buying gifts for this year.
It has also been the inspiration I needed to set up some simple music shelves in our sitting room, which have been a real success. I added a ukelele and a drum (both have been a big success) alongside a basket of sound blocks and a croaking frog guiro. After Frida's birthday we will be able to add the pentatonic glockenspiel to her shelves.
I am absolutely delighted to be giving away one of these stunning diatonic Decor glockenspiels over on Instagram. Come and join in the competition – entering couldn't be easier.
If you can't wait to get your hands on one of these gorgeous instruments, you can get 15% off the entire Decor Glockenspiel range at Little Acorns to Mighty Oaks with code FRIDA.
Disclaimer: I received the Glockenspiel as a gift to review, but all thoughts and words are my own. As you can tell, I was a big fan and needed no convincing!
Next article3-4 yearsFrida turns three! Gifts for a three year old.


text:
Roger Darlington's personal blog
CommsWatch
American current affairs
British current affairs
Consumer matters
My life & thoughts
World current affairs
Where now for a devastatingly defeated Labour Party?
December 29th, 2019 by Roger Darlington
We have all given significant periods of our lives to the Labour movement, most recently as MPs and candidates in the general election. We have been horrified by the damage that Tory government austerity has wreaked in our communities, crippling our NHS, starving our struggling schools and transport networks, normalising street sleeping and failing to keep our streets safe. Yet sadly, when it came to polling day, Labour was led to its biggest defeat since 1935. We lost seats in every region and nation with a swing against us in every social class – with the biggest swing against us from the poorest people.
The scale of this defeat means that we have to look unflinchingly at what went wrong, way beyond a simple review, welcome as that might be. We need to be honest about why our outgoing leadership's reflexive anti-western worldview was so unpopular and address the reasons.
We were rejected on doorsteps not just because of our woolly, changing position on Brexit, or in Scotland because of our weak commitment to the union, but because the very people we were supposed to be fighting for did not think the policies in our manifesto related to their lives. The focus on nationalisation and uncontrolled spending commitments meant people simply didn't believe us. Sadly, this was particularly true with those most affected by the poverty and injustice that 10 years of Tory government has created.
Lastly, cronyism at the top of our party and repeated unwillingness to stand up to the stain of antisemitism were constantly relayed back to us on the doorstep, shaming the traditional values of our once great anti-racist party.
We are devastated that, across the country, we can no longer help our residents to whom we have devoted ourselves, still struggling under a Tory government. It is our duty to speak up now, so that our leadership candidates keep these people at the heart of their campaigns to lead our party.
The challenge for the eventual winner is immense. We need to win 150 seats in every corner of the country, gaining votes from a coalition of communities. Labour needs to be in government – and for that, fundamental change at the top of our party is required. Only this will help us recover from the catastrophic loss of 12 December.
Mary Creagh, former MP for Wakefield, Emma Reynolds, former MP for Wolverhampton North East, Anna Turley, former MP for Redcar, Dr Paul Williams, former MP for Stockton South, Gerard Killen, former MP for Rutherglen and Hamilton West, Martin Whitfield, former MP for East Lothian, Mary Wimbury, Labour candidate for Wrexham, Sheila Gilmore, Labour candidate for Edinburgh East, Ashley Dalton, Labour candidate for Rochford and Southend East, Kate Watson, Labour candidate for Glasgow East, Phil Wilson, former MP for Sedgefield
This letter was published in today's Observer" newspaper.
Posted in British current affairs | Comments (0)
A review of the novel "Prague Spring" by Simon Mawer
December 22nd, 2019 by Roger Darlington
In some ways, Mawer is an unlikely fiction writer. He took a degree in Zoology at Oxford University and has worked as a biology teacher in Rome for most of his life and he only published his first novel at the comparatively late age of 41. I discovered him through his eighth novel, the wonderful "The Glass Room" which is largely set in what was then Czechoslovakia before and during the Second World War. I subsequently read his next two novels which feature the same leading character in the Second World War and early Cold War respectively: "The Girl Who Fell From The Sky" and "Tightrope".
So "Prague Spring" is his tenth novel and I have learned to really enjoy his style. Like "The Glass Room", his latest work is set in Czechsolvakia but in a different and very narrow period: the few weeks running up to the Warsaw Pact invasion of August 1968 and the occupation itself. Like "The Girl Who Fell From The Sky", it has an abrupt and incomplete ending and so I hope that, as with "Tightrope", we will have a sequel.
The narrative involves two couples with their stories only converging two-thirds of the way through the novel. James and Ellie are Oxford University students who decide to use the summer to hitchhike in Europe and, almost by accident, find themselves in the Czechoslovak capital at the fateful time, along the way developing a kind of relationship. Sam is a diplomat at the British Embassy in Prague and Lenka is a Czech student protestor and they quickly make an unlikely, but passionate, couple. Very soon after the four meet, all of their lives are shaken by the sudden occupation of the country.
Mawer was a student at Oxford at the time of the Warsaw Pact invasion and it will have made an impact on him as it did on me at the time (we are the same age). As he revealed in "The Glass Room" and as is again evident in "Prague Spring", he has a deep knowledge of Czech history, country and language (I know a bit too having visited 28 times and studied the language) and I appreciated the manner in which he weaves so much knowledge and insight into a novel which is about relationships as well as history, politics and culture.
Posted in Cultural issues | Comments (0)
How was your week? Did you have four scans, two samples, an ECG, a health questionnaire and a cognitive test all on the same day?
One day this week, I had no less than four scans. These were:
Brain MRI scan. This provides information about the structure and function of the brain; for example which parts of the brain are important for carrying out certain tasks and how different parts of the brain are connected.
Heart and body MRI scan. This provides information on the size of the heart chambers and blood vessels, and changes in the size of the heart as it beats. It also provides detailed information on the amount and distribution of fat in the body.
Neck artery ultrasound scan. This uses ultrasound (high-frequency sound waves) to produce images of the blood vessels on either side of the neck. These images help scientists study any narrowing of these major blood vessels.
Dual-Energy x-ray Absorptiometry (DXA) scan. This uses low-energy X-rays to measure bone density throughout the body. Detailed pictures of the spine, hips and knees help scientists to study diseases like osteoporosis (thinning of the bones) and arthritis.
As well as these four scans, I had physical measures, physical tests, and an electrocardiogram (ECG), gave blood and urine, samples, completed a long questionnaire on health and lifestyle, and took a series of cognitive tests. The whole process took almost five hours.
What's going on, I hear your say. Its all part of a huge, longitudinal health study called Biobank. I joined this study – which has around 500,000 participants – about 10 years ago and, for time to to time, I complete online questionnaires and take part in trials and tests. The imaging assessment study in which I participated this week will eventually encompass some 100,000 people.
It's all voluntary, but UK Biobank is helping scientists from all the around the world to improve the prevention, diagnosis and treatment of a wide range of diseases. The main sub study in which I am a participant is looking at the health risks associated with dementia.
I'm grateful for the health I have and pleased to be able to make a small contribution to giving others better life prospects.
Posted in My life & thoughts | Comments (0)
How many countries have a name beginning with 'The'?
Wikipedia tells us:
According to the CIA World Factbook, the United States Department of State, the Times Comprehensive Atlas of the World and the Permanent Committee on Geographical Names for British Official Use, The Gambia is one of only two countries whose self-standing short name for official use should begin with the word "The", the other being The Bahamas.
Habitually, the definite article is sometimes still used when addressing many other countries, including
Netherlands, Philippines, Congo, Sudan, Yemen, Comoros, Central African Republic, Seychelles, Maldives, Solomon Islands, Dominican Republic, Czech Republic, Marshall Islands, United Kingdom, United States of America and Lebanon,
with varying degrees of accuracy.
Posted in World current affairs | Comments (0)
Revisiting the 1978 classic movie "The Deer Hunter"
There have been many American films about the Vietnam war and "The Deer Hunter" was one of the first and finest, being nominated for nine Academy Awards and winning five including Best Picture and Best Director (for Michael Cimino who originated the story). I saw it on its original release and revisited it on the big screen 40 years later. I had forgotten how long it is (just over three hours) but it remains a moving and shocking work.
The first hour or so is set in a Pennsylvannia steel town (although it was shot in eight different locations in Ohio) with a traditional Russian Orthodox wedding and rubustious reception, before jumping to the horrors of Vietnam (filming was in Thailand). We meet three steelworkers who have just been drafted: Mikey (Robert De Niro), the hunter of the title, Steven (John Savage), the husband of the marriage, and Nick (Christopher Walken) who has just proposed to Linda (Meryl Streep).
The film was immediately criticised for its repeated use of disturbing sequences of Russian roulette on the grounds that there is no evidence that such events actually occurred. However, like the deer hunt, the Russian roulette is a metaphor: the first of an experience of simplicity and nobility, the second an illustation of chance and brutality, both deployed twice in ways which contrast with each other and each use.
The cinematography by Oscar-nominated Vilmos Zsigmond is striking and the main title theme by John Williams is haunting which, with a strong storyline and fine acting across the board, makes for a truly memorable movie. Viewing it again four decades later, it is wonderful to see how Robert De Niro and Meryl Streep have carved out such long and illustrious acting careers.
Wondering what films to download for viewing over Christmas & New Year? You can read my reviews of almost 70 classic movies here.
The British General Election: what now for our constitution?
Two documents are never read by the overwhelmingly majority of people.
The first is our constitution, not least because it does not exist as a single codified document, but it is nevertheless something vital to our democracy and needs reform but the right reform.
The second is election manifestos because they are essentially only available online, they are long, and they are boring. But one part of the manifesto of the victorious Conservative Party – the notorious page 48 – deserves some attention because of the constitutional reforms that it proposes, not least the threat that in future voters will only be allowed to cast a ballot if they can prove their identity and the promise to change the Human Rights Act.
For your edification and illumination, I offer you the text of the relevant part of the Tory manifesto here:
As Conservatives, we stand for democracy and the rule of law. Our independent courts and legal system are respected throughout the world.
One of the strengths of the UK's constitution is its ability to evolve – as times have changed, so have Parliament, government and the judiciary.
Today, that need is greater than ever. The failure of Parliament to deliver Brexit – the way so many MPs have devoted themselves to thwarting the democratic decision of the British people in the 2016 referendum – has opened up a destabilising and potentially extremely damaging rift between politicians and people. If the Brexit chaos continues, with a second referendum and a second Scottish referendum too, they will lose faith even further.
It is only by getting Brexit done that we can start the necessary task of restoring public trust in government and politics:
 We will get rid of the Fixed Term Parliaments Act – it has led to paralysis at a time the country needed decisive action.
 We will ensure we have updated and equal Parliamentary boundaries, making sure that every vote counts the same – a cornerstone of democracy.
 We will continue to support the First Past the Post system of voting, as it allows voters to kick out politicians who don't deliver, both locally and nationally.
 We will protect the integrity of our democracy, by introducing identification to vote at polling stations, stopping postal vote harvesting and measures to prevent any foreign interference in elections.
 We will make it easier for British expats to vote in Parliamentary elections, and get rid of the arbitrary 15-year limit on their voting rights.
 We will maintain the voting age at 18 – the age at which one gains full citizenship rights.
 We will ensure that no one is put off from engaging in politics or standing in an election by threats, harassment or abuse, whether in person or online.
 We will champion freedom of expression and tolerance, both in the UK and overseas.
 To support free speech, we will repeal section 40 of the Crime and Courts Act 2014, which seeks to coerce the press. We will not proceed with the second stage of the Leveson Inquiry.
 We will ensure redundancy payments can be clawed back when high-paid public servants move between jobs.
 We will improve the use of data, data science and evidence in the process of government.
Once we get Brexit done, Britain will take back control of its laws. As we end the supremacy of European law, we will be free to craft legislation and regulations that maintain high standards but which work best for the UK. We want a balance of rights, rules and entitlements that benefits all the people and all the parts of our United Kingdom.
After Brexit we also need to look at the broader aspects of our constitution: the relationship between the Government, Parliament and the courts; the functioning of the Royal Prerogative; the role of the House of Lords; and access to justice for ordinary people. The ability of our security services to defend us against terrorism and organised crime is critical. We will update the Human Rights Act and administrative law to ensure that there is a proper balance between the rights of individuals, our vital national security and effective government. We will ensure that judicial review is available to protect the rights of the individuals against an overbearing state, while ensuring that it is not abused to conduct politics by another means or to create needless delays. In our first year we will set up a Constitution, Democracy & Rights Commission that will examine these issues in depth, and come up with proposals to restore trust in our institutions and in how our democracy operates.
I will be watching out for the formation and operation of this Constitution, Democracy & Rights Commission.
The British General Election: what just happened?
First, some basic facts:
This was the first December election since 1923. In most parts of the UK, the weather was wet and windy and the nights were long and dark. But turnout was 67.3%, only slightly below the 2017 election held in June.
The Conservatives won 365 seats (with 43.6% of the vote) – a gain of 47 seats and the party's best result since 1987. This gives the party an overall majority of 80.
Labour won 203 seats (with 32.2% of the votes) – a loss of 43 seats and the party's worst result since 1935.
The Liberal Democrats won 11 seats (with 11.5% of the votes) – one seat down on 2017 and with the loss of the seat of its leader Jo Swinson.
The Scottish National Party won 48 seats (with 3.9% of the vote) – a gain of 13 seats out of a total contested of 59.
There were no 'Portillo moments' with Conservative 'big beasts' losing their seats. Instead the stand-out results of the night were major breaches in Labour's so-called 'Red Wall' of Northern strongholds with the Tories taking seats such as Sedgefield (which Tony Blair used to represent), Bolsover (where Dennis Skinner was the veteran MP), and my namesake of Darlington.
The number of women MPs continues to rise – if far too slowly – and went up by 12 in this election to a total of 220. A majority of Labour and Lib Dem MPs are female for the first time in history.
The new parliament will be the most diverse in our history with 65 MPs from black and ethnic minority backgrounds. The majority of them – 41 – are Labour MPs.
Now a few observations:
At the beginning of the General Election, I was asked for a forecast and suggested an overall Conservative majority of between 15-25. Up until 10 pm on Thursday night, I was sticking to that forecast – but I substantially underestimated the scale of the Tory victory. I suspect it even came as a surprise to Boris Johnson himself.
This was a triumph for the Conservatives and specifically for Johnson. Although he avoided the toughest interviews, made a number of gaffs, and repeatedly was spare with the truth, his "Get Brexit Done" mantra clearly won through, not just to traditional Conservative voters but to many traditional Labour voters in constituencies which voted leave in the EU referendum,
Clearly, Brexit is now going to happen in the sense that the Johnson deal will be approved by Parliament before 31 January 2020. But is is not certain that he will be able to negotiate with the EU a mutually acceptable trade deal by 31 December 2020 and, even if does, it will take years to negotiate trade deals with non-EU nations. Outside of the Brexit issue, we have to see whether Johnson's declaration that he will rule as a 'One Nation Conservative' is true or just a catchphrase.
This was a disaster for Labour and especially Jeremy Corbyn. Although the Corbyn faction of the party is already blaming the result on Brexit, Corbyn was responsible for the party's opaque position on Brexit and on the doorsteps Corbyn was clearly very unpopular, even with many of those who normally vote Labour. According to a BBC analysis, in strong Leave areas, Labour lost 10.4% vote share while, in strong Remain areas, they dropped 6.4% vote share.
So Brexit was only part of Labour's problem and presumably will not be the same issue at the next General Election – although the experience of Brexit, especially if economically damaging, could work to Labour's advantage next time. But the leadership issue – and the overreaching of the party's manifesto – will be fiercely debated in the days, weeks and months to come. As a Labour Party member of 50 years, I did not vote for Corbyn in either of the leadership elections and I believe that he was a major factor in our defeat.
The United Kingdom is still a very divided country with a triple split. London remains a Labour bastion and, in my constituency of Bermonsey & Old Southwark, Labour's vote share actually rose 1% (the sitting Labour MP Neil Coyle has been pro-Remain and anti-Corbyn). Scotland is more of an SNP stronghold than ever and the Nationalists will demand a second referendum on independence. The rest of Great Britain is now very much Conservative territory.
I have excluded Northern Ireland from this triple division because it has its own political parties, but it is notable that Sinn Fein's share of the NI vote exceeded that of the Democratic Unionist Party: 47% vs 43%.
Boris Johnson may not last five years as Prime Minister – he has a lot of skeletons in the cupboard and is notoriously gaffe-prone. But, almost certainly, the Conservatives will be in office for another decade – no Opposition has ever recovered from this scale of defeat in one election cycle. So, depending on my mortality, I may never see a Labour Government again (at least I worked for the Wilson/Callaghan Government and my son worked for the Blair/Brown one).
Meanwhile the case for a proportional representation electoral system is more powerful than ever. But I can't see how this can happen unless it is part of some new constitutional settlement which I don't expect.
Posted in British current affairs | Comments (10)
King William III and "the little gentleman in the black velvet waistcoat"
Today I was passing through St James's Square in central London and took the opportunity to check out a statute in the middle of the square's gardens. It is an equestrian statute with some kind of lump underneath one of the horse's hoofs.
What's it all about? You'll find the explanation here.
Posted in History | Comments (0)
A review of the new, award-winning film "Marriage Story"
December 8th, 2019 by Roger Darlington
This is the fifth film that I have seen written and directed by Noah Baumbach, so I know to expect something different in terms of both subject and style, and "Marriage Story" is his best work to date. In spite of the title, it is essentially a story of divorce but it cleverly interweaves the story of the marriage so that, in the end, it is a kind of love story.
The couple in question are brilliant theatre director Charlie and talented actress Nicole and Adam Driver – who has now worked with Baumbach four times – and Scarlett Johansson are simply brilliant in these leading roles. One particularly heart-breaking scene has them tearing into each other in a laceration reminiscent of "Who's Afraid Of Virginia Wolf?"
What makes the divorce so difficult is the custody battle over their eight year old son Henry and one cannot help recalling the film "Kramer vs Kramer" of 40 years ago. What makes the divorce so bitter is the combative role of the lawyers: Alan Alda and Ray Liotta are impressive as the good cop/bad cop pair battling for Charlie, while Laura Dern is superb as counsel for Nicole with a wonderful mini-speech about the Virgin Mary.
An important feature of the storytelling is that Baumbach does not take sides as regards either the couple or their advisers but presents both perspectives in this tragedy.
I saw "Marriage Story" at London's British Film Institute where it was followed by a question and answer with director Noah Baumbach and producer David Heyman. Baumbach underlined how his movie represents diverse genres since, at different points, it is a court procedural, a rom-com, a musical, and a screball comedy. Heyman explained that the funding of the film by Netflix had enabled such an independent work to be made with a theatrical release as well as availability through streaming.
What Baumbach did not volunteer and nobody asked him was just how autobiographical is this work. In 2013, he concluded three years of divorce proceedings with actress Jennifer Jason Leigh, the mother of his (first) son. Johansson was actually going through a divorce when she was offered the role and Dern has her own experience of divorce.
They are not the only ones. Up to half of marriages in the developed world end in divorce. Sadly I have had experience of three divorces – that of my parents and two of my own – and I myself was the subject of a custody battle at the same age as Henry, so I found the film especially resonant. But, whether you have or have not been through a divorce yourself, you will not fail to be moved by Baumbach's powerful and poignant storytelling.
The crisis in the older democracies
Democracy is not so much a stable political system as a work in permanent progress. It takes decades, even centuries, to embed in a society – but, even then, it is never settled and never totally secure.
Indeed the distinction between democratic countries and non-democratic countries is a blurred one and it is better to see nations on a spectrum from fully democratic to outright authoritarian. Positions on that spectrum can and do change, sometimes – for good or bad – very rapidly.
This is very obvious with nations that have only recently attempted democratic forms, such as Russia, South Africa, Afghanistan and Iraq.
What is much less well understood is that even the older democracies are facing serious challenges which, in some cases, amount to a crisis. Sadly this is the case in many of the nations of Europe and much of the remainder of the developed world including the United States.
These are the opening paragraphs of my website essay on "The crisis in the older democracies".
NightHawk is powered by WordPress and Virtual Sightseeing designed by Solbergs.


text:
This website uses cookies. By using this website, you agree to our Cookie Policy.
Read Cookie Policy
About Cadwalader
At Cadwalader, Wickersham & Taft LLP, we put over 225 years of legal experience and innovation to work for you today. As one of the world's leading advisors to corporations and financial institutions, we have earned a reputation for crafting innovative business and financial solutions and developing precedent-setting legal strategies to achieve our clients' goals. Find out what makes us different.
Asian Pacific American Attorney Resource Group
Black & Latino Association
Veterans Affinity Network
Women's Leadership Initiative
Pro Bono and Public Service
Black & Latino Association Immigration Clinic
Not-for-Profit Incubator
Pro Bono Projects
Pro Bono @Cadwalader
Pro Bono Recognition
We stand out from our competition because we help you stand out from yours.
We are in the business of delivering results so the truest measure of our success is the success of our clients. By maintaining this focus, we help them to create and launch groundbreaking products, services, concepts and deals and to protect their interests.
Cadwalader attorneys are often called upon to comment on business, financial, political and legal developments around the world as well as on the implications of big deals, noteworthy cases, community news, and proposed legislation.
Breaking new ground.
From commenting on pressing legal and policy issues to explaining the implications of big deals, important court decisions and regulatory changes for leading news outlets and legal publications, our attorneys are sought out for their views and perspectives.
Cadwalader regularly publishes informative and educational materials, including newsletters and news alerts on a range of topics. Our portfolio also includes articles, industry programs, seminars, conferences, and videos.
BrassTax
Cadwalader Cabinet
Fund Finance Friday
REF News and Views
State Attorney General Insider
Clients & Friends Memos
Patent Litigation Tracker
Scheduling/Case Management
Patent Specific Hearings/Motions
Mediation/Settlement Conferences
Information you need from those in the know.
From explanatory memoranda to pinpointed analysis, we provide our clients and friends with practical guidance in a variety of formats to help them to understand complex issues and make informed decisions about their businesses.
Cadwalader's presence in New York, London, Charlotte, N.C., and Washington, D.C., provides our clients with strategic advantages found in major financial and commercial centers of the world.
Global Reach . . . local insight.
By collaborating across offices and practices, we offer a seamless network of legal professionals, working together to formulate comprehensive responses to client needs.
Cadwalader is a community of talented and driven individuals committed to excellence and innovation. Across departments, offices and borders, we share the common goal of providing world-class client service through the development of a culture that fosters diversity, collaboration and professional growth.
US Law Students
Associate Openings
Find the perfect fit.
Stability and a proud history, together with a growing practice and a dynamic outlook, make Cadwalader a unique place to build your career.
As a law firm with offices in the United States and Europe, Cadwalader attorneys bring a diversity of background, culture, language, and experience to helping our clients achieve their goals.
Practice Areas All Anti-Money Laundering Investigations and Compliance Antitrust Antitrust Litigation Asset-Backed Commercial Paper Auto Securitization Bank Regulation Bankruptcy Litigation Broker-Dealer Regulation CLOs Class Action Defense Commercial Mortgage-Backed Securities Commodities & Futures Regulation Construction Finance Contentious Insurance Corporate Corporate & Financial Services Litigation & Regulation Corporate Finance Corporate Governance Corporate Governance Litigation and Counseling Corporate Securitization Corporate Taxation Credit Card Securitization Cybersecurity and Data Privacy Debt & Claims Trading Derivatives & Structured Products Distressed Energy Distressed Finance Distressed Investing and Mergers & Acquisitions Distressed Municipal Finance Distressed Structured Products ERISA Economic Sanctions Estate Planning & Administration Executive Compensation & Benefits Executive Compensation, Benefits & ERISA FCA Regulated Entities FCPA Enforcement and Compliance False Claims Act and Health Care Fraud Family Office FinTech Financial Regulation Financial Restructuring Fund Finance Fund Formation Global Litigation IP Due Diligence ITC Litigation Institutional Planning Insurance Products Insurance and Reinsurance Insurance-Linked Securities Intellectual Property International Dispute Resolution Investment Management Investment Management Litigation Investment Management Regulation & Compliance Investment Management Transactions Joint Ventures LIBOR Preparedness Team Loan Sales M&A Litigation Management & Leasing Marketplace Lending and FinTech Merger Clearance Mergers & Acquisitions Mergers & Acquisitions Taxation Mezzanine Finance Mortgage Banking & Whole Loan Trading Mortgage Finance Municipal Derivatives Municipal Securitization National Security Not-for-Profit Institutions OTC Derivatives Patent & Trade Secret Litigation Patent Preparation & Prosecution Pharmaceutical Regulation and Compliance Private Equity Private Wealth Real Estate Real Estate Acquisitions & Dispositions Real Estate Restructuring Real Estate Workouts & Restructurings Receivables Finance Residential Mortgage-Backed Securities Restructurings & Bankruptcies Taxation Securities Enforcement and Compliance Securitization & Asset Based Finance Securitization & Structured Products Taxation Shareholder Activism Special Situations Sports Law State Attorneys General Practice Structured Products Swap Regulation TALF Task Force Tax Tax Controversy Trademark & Copyright Protection Trial Practice Warehouse Lending White Collar Defense and Investigations
Positions All Associate Consulting Attorney Counsel General Counsel Law Clerk Managing Attorney Partner Professional Advisor Senior Attorney Senior Counsel Special Counsel Special Counsel, Associate General Counsel Special Legal Consultant Staff Attorney
Law School All Adelphi University Adrian College Albany Law School Albany Law School of Union University American University American University of Beirut American University, School of International Service American University, Washington College of Law Amherst College Andrews University Antioch School of Law Antioch University Antioch University New England Appalachian State University Aquinas College Arizona State University Arizona State University, Sandra Day O'Connor College of Law Asbury University Aston University Ateneo de Manila Law School Ateneo de Manila University Auburn University Australian National University Australian National University, College of Law BPP Business School BPP Law School BPP Law School, Manchester BPP University of London Babeş-Bolyai University Babson College Ball State University Bard College Barnard College Bates College Beijing Foreign Studies University Beijing Institute of Technology Beijing University Beijing University of Aeronautics & Astronautics Belarusian State University Belarusian State University, Faculty of Law Belgrade University Belmont University Benjamin N. Cardozo School of Law Bennett College Bentley University Bernard M. Baruch College, CUNY Honors College Bethany College Binghamton University Birmingham-Southern College Bond University Boston College Boston College Law School Boston University Boston University School of Law Bowdoin College Bowling Green State University Bradley University Brandeis University Brigham Young University Brigham Young University, J. Reuben Clark Law School Brigham Young University-Idaho Brooklyn College Brooklyn Law School Brown University Brunel University London Bryn Mawr College Bucknell University Butler University CFA Program California Institute of Technology Campbell University Campbell University, Norman Adrian Wiggins School of Law Canisius College Canisius College, Richard J. Wehle School of Business Capital University Capital University Law School Cardiff University Law School Carleton College Carleton University Carnegie Mellon University Case Western Reserve University Case Western Reserve University, School of Law Case Western Reserve University, Weatherhead School of Management Cass Business School Catholic University of America Catholic University of America, Columbus School of Law Central Connecticut State University Central Michigan University Charlotte School of Law Charter Oak State College Chartered Institute of Securities Investments Chester Law School China University of Political Science and Law Chinese People's Public Security University Chinese University of Hong Kong City College of New York City Law School, London City University of Hong Kong City University of Hong Kong, School of Law City University of New York City University of New York, Baruch College City University of New York, Brooklyn College City University of New York, College of Staten Island City University of New York, Hunter College City University of New York, Queens College City, University of London Claremont Graduate University Claremont McKenna College Clark University Clarkson University Clemson University Cleveland State University, Cleveland-Marshall College of Law Colby College Colgate University College of Charleston College of Law College of Law (New Zealand) College of Law - Birmingham College of Law - Chester College of Law - Chester College of Law - Guildford College of Law - Manchester College of Law Moorgate College of Law, London College of William & Mary College of William & Mary, School of Law College of the Holy Cross Colorado College Colorado State University Columbia Business School Columbia College Chicago Columbia Law School Columbia University Concordia University, Montreal Connecticut College Cornell Law School Cornell University Coventry University Creighton University, School of Law Dalhousie University Dartmouth College Davidson College DePaul University, College of Law DePauw University Denison University Dickinson College Dominican University of California Drake University Drake University Law School Drew University Drexel University Drexel University School of Law Duke Divinity School Duke University Duke University School of Law Duquesne University Duquesne University, School of Law Durham University E.S.S.E.C, Business School East Carolina University East China University of Politics and Law Edinboro University of Pennsylvania Elon University Elon University School of Law Emerson College Emory University Emory University School of Law Eugene Lang College The New School for Liberal Arts Ewha Womans University Exeter University Fairfield University Fairleigh Dickinson University Florida A&M University, College of Law Florida Atlantic University Florida International University Florida State University Florida State University, College of Law Fordham University Fordham University, School of Law Franklin and Marshall College French University Paris II Panthéon-Assas French University Sciences Po Paris Fu Jen Catholic University Fudan University Fudan University, School of Law Furman University George Mason University George Mason University, School of Law George Washington University George Washington University Law School Georgetown University Georgetown University Law Center Georgia Institute of Technology Georgia State University Gettysburg College Gonzaga University Graduate School of the People's Bank of China Grinnell College Guilford College Hamilton College Hampden-Sydney College Harding University Harvard College Harvard Divinity School Harvard Graduate School of Education Harvard Law School Harvard University Harvard University, John F. Kennedy School of Government Haverford College Hawaii Pacific University Hebrew University of Jerusalem High Point University Hillsdale College Hobart and William Smith Colleges Hofstra University Hofstra University, Maurice A. Deane School of Law Hope College Howard University Howard University, School of Law Hunter College Illinois Institute of Technology Indiana University Indiana University, Robert H. McKinney School of Law Inns of Court School of Law Institut d'Etudes Européennes, Brussels Iona College Iowa State University Ithaca College James Madison University John Carroll University John Jay College of Criminal Justice John Marshall Law School Johns Hopkins University Kansas State University Kaplan Law School Kenyon College King's College London King's College London & the Université de Paris I (Panthéon-Sorbonne) King's College London, Dickson Poon School of Law Kingston University Law School La Salle University Lafayette College Law School of Xiangtan University Lawrence University Le Moyne College Leeds Law School Lehigh University Leicester De Montfort Law School Leiden University Leiden University, Leiden Law School London School of Economics and Political Science Long Island University, C.W. Post Loyola Marymount University Loyola University Chicago School of Law Loyola University Maryland Loyola University New Orleans Loyola University New Orleans, School of Law Lubin School of Business at Pace University M.V. Lomonosov Moscow State University Macquarie University Manchester Metropolitan University Manhattan College Marist College Marquette University Marquette University Law School Marshall University Marymount Manhattan College Marywood College Massachusetts Institute of Technology McGill University McGill University, Faculty of Law McIntire School of Commerce, University of Virginia Miami University Michael Smurfit Graduate School of Business Michigan State University Michigan State University, College of Law Middlebury College Milligan College Millikin University Mills College Monash University Monmouth College Morehouse College Mount Holyoke College Muhlenberg College Murdoch University Murdoch University, School of Law National Law School of India University National University of Ireland, Galway National University of Ireland, University College Cork National University of Ireland, University College Dublin Nazareth College Ner Israel Rabbinical College New England School of Law New York Law School New York University New York University Leonard N. Stern School of Business New York University School of Law Newcastle University North Dakota State University Northeastern University Northeastern University School of Law Northern Illinois University Northwestern University Northwestern University, Kellogg School of Management Northwestern University, School of Law Nottingham Law School Nottingham Trent University Nova Southeastern University, Shepard Broad Law Center Oberlin College Occidental College Ohio University Ohio Wesleyan University Oklahoma State University Old Dominion University Oregon State University Oxford Brookes University Oxford University Pace University Pace University Law School Palm Beach Atlantic University Pantheon Assas, Paris 2 Pantheon Assas, Paris I Paris Bar School Peking University Peking University Law School Pennsylvania State University Pennsylvania State University, Dickinson School of Law Pepperdine University Pepperdine University, School of Law Polytechnic University Pomona College Pontifícia Universidade Católica of São Paulo, Brazil Princeton University Providence College Purdue University Queen's School of Business Queen's University Queens College Queens' College, Cambridge RAND Corporation Rabbinical Seminary of Adas Yereim Radley College Ramapo College of New Jersey Renmin University of China School of Law Rensselaer Polytechnic Institute Rhodes College Rhodes University Rice University Richmond, The American International University in London Roanoke College Robert Schuman University Robert Schuman University and London School of Economics Roger Williams University Rutgers Law School Rutgers Law School Rutgers University Rutgers University School of Law - Newark (now Rutgers Law School) Rutgers University, Ernest Mario School of Pharmacy Rutgers University, School of Law - Camden Rutgers University, School of Law - Newark SOAS, University of London Sacred Heart University Saint Mary's College Saint Peter's College (now University) Samford University San Diego State University San Francisco State University Santa Clara University Santa Fe College Sarah Lawrence College Sciences Po Aix Sciences Po Law School Sciences Po Paris Seattle University Seattle University, School of Law Seton Hall University Seton Hall University, School of Law Seton Hall University, Stillman School of Business Sewanee: University of the South Shanghai International Studies University, School of Law Sheffield Hallam University Siena College Skidmore College Smith College Sofia University Sorbonne Law School (Paris I) Southern Connecticut State University Southern Illinois University, School of Law Southern Methodist University Southern Methodist University, Dedman School of Law Southern Polytechnic State University Southwest Missouri State St. Francis College St. John's College St. John's University St. John's University School of Law St. John's University. Peter J. Tobin College of Business St. Louis University St. Louis University School of Law Stanford Law School Stanford University State University of New York College of Environmental Science and Forestry State University of New York at Albany State University of New York at Binghamton State University of New York at Buffalo State University of New York at Buffalo Law School State University of New York at Cortland State University of New York at Fredonia State University of New York at Geneseo State University of New York at Oneonta State University of New York at Oswego State University of New York at Purchase State University of New York at Stony Brook Stonehill College Suffolk University Law School Susquehanna University Swarthmore College Syracuse University Syracuse University, College of Law Syracuse University, Maxwell School of Citizenship & Public Affairs Temple University Temple University, James E. Beasley School of Law Texas A&M University Texas Christian University Texas Tech University Texas Tech University, School of Law The City College of the City University of New York The City University of New York The College of Law, York The College of New Jersey The College of Saint Rose The Ohio State University The Ohio State University Moritz College of Law The Open University, Chester College of Law The University of Hong Kong The University of Law, Guildford The University of Law, London The University of Leeds The University of Texas at Austin Thomas Edison State University Thomas Jefferson School of Law Touro College Trinity College Trinity College, Dublin, School of Law Trinity University Truman State University Tsinghua University Tsinghua University, School of Law Tufts University Tufts University, Fletcher School of Law and Diplomacy Tulane University Tulane University Law School Union College United States Military Academy at West Point Universidad Catolica Santa Maria La Antigua Universitat Abat Oliba CEU University College Dublin University College London University of Adelaide University of Adelaide Law School University of Alabama University of Alabama School of Law University of Alaska Anchorage University of Alberta University of Antwerp University of Arizona University of Arkansas University of Arkansas, School of Law University of Auckland University of Baltimore University of Baltimore, School of Law University of Basel University of Belgrade University of Belgrade, Faculty of Law University of Bologna University of Bonn University of Bristol University of Bristol Law School University of British Columbia University of British Columbia, Faculty of Law University of California - Berkeley University of California - Berkeley, School of Law University of California - Davis University of California - Davis, School of Law University of California - Irvine University of California - Los Angeles University of California - Los Angeles, School of Law University of California - Riverside University of California - San Diego University of California - Santa Barbara University of Cambridge University of Cambridge, Downing College University of Cambridge, Emmanuel College University of Cambridge, Faculty of Law University of Cambridge, Jesus College University of Canterbury University of Canterbury, School of Law University of Cape Town University of Central Florida University of Chicago University of Chicago Law School University of Chicago, Booth School of Business University of Cincinnati University of Cincinnati, College of Law University of Colorado Boulder University of Colorado Law School University of Connecticut University of Connecticut, School of Law University of Copenhagen, Faculty of Law University of Dayton University of Dayton, School of Law University of Delaware University of Delhi, Faculty of Law University of Denver University of Denver, Sturm College of Law University of Detroit Mercy Law School University of Dublin, Trinity College University of Dundee University of Durham University of East Anglia University of East Anglia, School of Law University of Edinburgh University of Edinburgh, School of Law University of Essex University of Exeter University of Exeter Law School University of Florida University of Florida, Fredric G. Levin College of Law University of Geneva, Faculty of Law University of Georgia University of Georgia, School of Law University of Glasgow University of Hamburg University of Hamburg, Faculty of Law University of Hartford University of Hawaii at Manoa University of Hong Kong University of Houston University of Houston Law Center University of Hull University of Illinois University of Illinois at Urbana-Champaign University of Illinois, College of Law University of Iowa University of Iowa, College of Law University of Kansas University of Kansas, School of Law University of Kentucky University of Kentucky, College of Law University of KwaZulu-Natal University of Law University of Law, Moorgate University of Leeds University of Leeds, School of Law University of Leicester, School of Law University of Leuven University of London University of London, Birkbeck, School of Law University of London, Queen Mary University of London, Queen Mary, School of Law University of Louisiana University of Louisville University of Louisville, Louis D. Brandeis School of Law University of Maine University of Malta University of Manchester University of Manchester, School of Law University of Mary Washington University of Maryland University of Maryland, College Park University of Maryland, Francis King Carey School of Law University of Massachusetts University of Massachusetts, Amherst University of Melbourne University of Melbourne, Melbourne Law School University of Miami University of Miami, School of Law University of Michigan University of Michigan Law School University of Minnesota University of Minnesota Law School University of Minnesota, Carlson School of Management University of Mississippi University of Missouri University of Missouri School of Law University of Missouri-Kansas City University of Montana University of Montreal, Faculty of Law University of Mysore University of Nebraska University of Nebraska, College of Law University of New England University of New England, School of Law University of New Hampshire University of New Hampshire, School of Law University of New Orleans University of New South Wales University of Newcastle upon Tyne University of Newcastle, Australia University of Nigeria University of Nigeria, Faculty of Law University of North Carolina University of North Carolina School of Law University of North Carolina at Asheville University of North Carolina at Chapel Hill University of North Carolina at Charlotte University of North Carolina-Wilmington University of Notre Dame University of Notre Dame, Notre Dame Law School University of Nottingham University of Nottingham, School of Law University of Oregon University of Oregon, School of Law University of Otago, Faculty of Law University of Ottawa University of Ottawa, Faculty of Law University of Oxford University of Oxford - Jesus College, Final Honour School of Jurisprudence University of Oxford, Balliol College University of Oxford, Brasenose College University of Oxford, Faculty of Law University of Oxford, Jesus College University of Oxford, Keble College University of Oxford, Merton College University of Oxford, New College University of Oxford, Oriel College University of Oxford, Queen's College University of Oxford, Worcester College University of Paris University of Paris, Faculty of Law University of Pennsylvania University of Pennsylvania Law School University of Pennsylvania, Wharton School of Business University of Phoenix University of Pittsburgh University of Pittsburgh School of Law University of Puerto Rico University of Puerto Rico, School of Law University of Queensland University of Queensland, Australia University of Queensland, TC Beiren School of Law University of Richmond University of Richmond, School of Law University of Rochester University of Salford University of San Diego University of San Francisco, School of Law University of Science and Technology of China University of Scranton University of Sheffield, School of Law University of South Carolina University of South Carolina, School of Law University of South Florida University of Southampton University of Southampton Law School University of Southern California University of Southern California, Gould School of Law University of St. Andrews University of St. Thomas University of Sussex University of Sydney University of Sydney, Sydney Law School University of Technology, Sydney University of Technology, Sydney, Faculty of Law University of Tennessee University of Tennessee, College of Law University of Texas University of Texas School of Law University of Texas at Austin University of Texas at Austin, School of Law University of Texas at Dallas University of Toledo, College of Law University of Toronto University of Toronto, Faculty of Law University of Turin University of Turin, Faculty of Law University of Utah University of Vermont University of Virginia University of Virginia School of Law University of Wales, School of Business and Law University of Warwick, School of Law University of Washington University of Washington, School of Law University of West Florida University of Western Australia University of Western Australia, Faculty of Law University of Western Ontario University of Westminster University of Westminster, School of Law University of Wisconsin University of Wisconsin Law School University of Wisconsin School of Business University of Wisconsin-Eau Claire University of Wisconsin-Madison University of Witwatersrand, Oliver Schreiner School of Law University of Wollongong University of Wolverhampton University of York University of Zurich University of the Philippines University of the Philippines, College of Law University of the Sciences in Philadelphia University of the West of England Université de Poitiers Université de Rennes I Utica College Vanderbilt University Vanderbilt University Law School Vanderbilt University, Owen Graduate School of Management Vassar College Vermont Law School Victoria University of Wellington Victoria University of Wellington, Faculty of Law Villanova University Villanova University, School of Law Virginia Commonwealth University Virginia Military Insitute Virginia Polytechnic Institute and State University Vrjie Universiteit Brussels, Faculty of Law Wake Forest University Wake Forest University School of Law Washington College of Law Washington State University Washington University Washington University in St. Louis Washington University in St. Louis School of Law Washington University, John M. Olin Business School Washington University, School of Law Washington and Lee University Washington and Lee University, School of Law Wayne State University Law School Webster University Wellesley College Wesleyan University Western Carolina University Western Michigan University Western Washington University Westminster College Westminster Theological Seminary Westmont College Wheaton College Whitman College Widener University, School of Law Wilfrid Laurier University Wilkes University William E. Macaulay Honors College William and Mary, School of Law Williams College Winthrop University Wofford College Xavier University Xiamen University Xiangtan University Yale College Yale Divinity School Yale Law School Yale University Yeshiva University Yeshiva University, Benjamin N. Cardozo School of Law York University, Osgoode Hall Law School Zhejiang University Chu Kochen Honors College Zhongnan University of Economics and Law École des Hautes Études en Sciences Sociales
Location All New York London Charlotte Washington
Search Alphabetically All A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Resources : Clients & Friends
Obama Administration Releases Legislative Language Regarding Asset-Backed Securitization
Earlier this week, the Obama Administration released legislative language attached as Exhibit A to this Memo proposing changes to laws affecting asset-backed securities ("ABS").1 The proposed legislation is the Administration's follow-up to its June 17, 2009 release of recommendations for reform of our financial regulatory system (the "Proposal")2, which we described in our clients and friends memorandum summarizing the Proposal3 and our clients and friends memorandum summarizing the Proposal's impact on the securitization markets4.
The key features of the proposed legislation include:
A regulatory mandate to impose a minimum of 5% credit risk retention by securitizers (no hedging allowed) for such period of time required by the applicable regulators;
A requirement that the risk retention requirements apply to bank and non-bank securitizers;
A definition of "securitizer" that includes issuers and underwriters of ABS;
Continued periodic reporting under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), by issuers of ABS even after the number of registered holders falls below 300, at least for such period of time and under such conditions prescribed by the Securities and Exchange Commission (the "SEC");
A mandate for SEC regulations requiring (1) detailed disclosures regarding the assets underlying ABS (including loan-level detail), (2) disclosure of information identifying loan brokers and originators, the nature and extent of their compensation and the amount of risk retained by the originator or securitizer and (3) standardization of the format of data provided by issuers;
A mandate for SEC regulations as to the use of representations and warranties, requiring (1) rating agencies to analyze representations, warranties and enforcement mechanisms of ABS offerings in rating agency reports, and (2) disclosure in ABS offerings as to historical repurchases by originators; and
Repeal of Section 4(5) under the Securities Act of 1933, as amended (the "Securities Act"), which exempts offers and sales of mortgage notes from the registration requirements under the Securities Act.
The proposed legislation does not address certain matters addressed in the Proposal:
There are no proposed changes to accounting principles relating to gain on sale or consolidation; and
There is no required linking of compensation of loan brokers, originators and ABS deal participants to the performance of securitized assets.
Credit Risk Retention by Securitizers
The proposed legislation would require federal banking agencies and the SEC to jointly prescribe regulations within 180 days requiring "any securitizer of an asset-backed security . . . to retain an economic interest in a material portion of the credit risk for any asset that the securitizer, through the issuance of an asset-backed security, transfers, sells or conveys to a third party."5 Securitizers would be required to retain at least 5% of the credit risk on any asset that is securitized.6 Securitizers would be prohibited from directly or indirectly hedging or otherwise transferring credit risk that they are required to retain with respect to any asset.7
Regulations would specify the permissible forms of risk retention (e.g., first loss position or pro rata vertical slice) that would be required and the minimum time period that securitizers would be required to retain such risk.8 Regulations would also provide for the allocation of risk retention obligations between securitizers and originators where a securitizer purchases assets from an originator.9 Federal banking agencies would have the authority to jointly adopt or issue exemptions, exceptions or adjustments to the 5% credit risk retention requirement and the prohibition on hedging.10
The obligation to retain credit risk will apply to both bank and non-bank securitizers.11 Moreover, the term "securitizer" is defined as an issuer or an underwriter of ABS.12 Based on this definition, regulations could be adopted that would impose a credit risk retention requirement on underwriters.
Periodic Reporting by Issuers of ABS Under the Exchange Act
The proposed legislation would require continued reporting by issuers of ABS under the Exchange Act for such period of time and under such conditions as prescribed by the SEC, even if the number of holders of an issue falls below 300.13 In addition, each issuer of ABS would be required to disclose, at a minimum, asset-level or loan-level data necessary for investors to independently perform due diligence for each tranche or class of security.14 Disclosure would also be required of:
the loan broker or originator of the assets backing the security;
the nature and extent of compensation of the broker or originator; and
the amount of risk retained by the originator or the securitizer of such assets.15
The SEC would also be required to set data formatting standards to facilitate comparison of data across securities for similar asset classes.16
The required disclosures described above apply to periodic reports filed pursuant to the Exchange Act, but do not appear to be mandated for Securities Act filings.
Representations and Warranties Relating to ABS Offerings
Under the proposed legislation, the SEC would be required to prescribe regulations requiring rating agencies to include in reports accompanying credit ratings:
a description of the representations, warranties and enforcement mechanisms available to investors, and
a description of how such representations, warranties and enforcement mechanisms differ from those in similar transactions.17
The SEC would also be required to prescribe regulations requiring disclosure of fulfilled repurchase requests across all trusts aggregated by originator, "so that investors may identify asset originators with clear underwriting deficiencies".18
Elimination of Securities Act Section 4(5) Exempting Offers and Sales of Mortgage Notes
Section 4(5) of the Securities Act permits savings and loan associations, savings banks, commercial banks and other similar banking institutions to sell promissory notes (and participation interests therein) directly secured by a first lien on a single parcel of real estate upon which a dwelling is located without filing a registration statement under the Securities Act.19 Interestingly, although not mentioned in the Proposal, the proposed legislation would eliminate this Securities Act registration exemption.
It is not clear why this repeal is proposed, as there is no evidence that this exemption was relied upon for mortgage loan ABS transactions in any meaningful way. We would not expect the repeal of Section 4(5) to adversely affect the private whole loan mortgage market, which generally involves negotiated sales of pools of loans between sophisticated buyers and sophisticated sellers, although mortgage market participants may have concerns about the intent of the proposed repeal.
Issues Not Addressed by the Proposed Legislation
No Proposed Changes to Gain on Sale or Consolidation Accounting or Consolidation. The Administration's Proposal supported changes to Generally Accepted Accounting Principles that would eliminate the immediate recognition of gain on sale by originators at the inception of a securitization transaction and instead require originators to recognize income over time.20 However, the Administration's proposed legislation does not contain any provisions related to accounting rules. So, as many people thought, it appears the references in the Proposal were to the changes to FAS 140 and FIN 46 recently adopted by the Financial Accounting Standards Board.
No Required Linking of Compensation of Loan and ABS Deal Participants to Performance of Securitized Assets. The Administration's Proposal indicated that banking regulators should issue regulations to align compensation of market participants with longer term performance of underlying loans.21 Rather than mandating the type and method of compensation of market participants in order to link their compensation to the performance of securitized assets, the proposed legislation would require only disclosure of the nature and extent of compensation of loan brokers and originators.22
Obama Administration's Proposed Legislative Language Regarding ABS
1 See Investor Protection Act of 2009, Subtitle E: Improvements to the Asset-Backed Securitization Process, available at http://www.ustreas.gov/press/releases/reports/title%20ix%20subt%20e%20securitization%207222009%20fnl.pdf.
2 To view the Obama Administration's white paper, see, http://www.financialstability.gov/docs/regs/FinalReport_web.pdf.
3 See http://www.cadwalader.com/assets/client_friend/061709_FinancialRegulatoryReformProposal.pdf.
4 See http://www.cadwalader.com/assets/client_friend/062209RegulatoryReform_Securitization.pdf.
5 See Investor Protection Act of 2009, Subtitle E: Improvements to the Asset-Backed Securitization Process, § 951, 15F(a).
6 See Id. at § 951, 15F(b)(2).
9 The term "originator" is defined as "a person who sells an asset to a securitizer." See Id. at § 951, 15F(e)(3).
10 See Id. at § 951, 15F(c)(1).
11 See Id. at § 951, 15F(b)(4), indicating that the proposed regulations will "apply regardless of whether the securitizer is an insured depository institution, as defined in section 3(c) of the Federal Deposit Insurance Act (12 U.S.C. 1813(c))".
12 See Id. at § 951, 15F(e)(2).
13 See Id. at § 952(a),(b).
14 See Id. at § 952(c).
15 See Id.
17 See Id. at § 953(1).
19 See 15 U.S.C. § 77d(5)(A).
20 See supra, Note 4, at 3.
22 See Investor Protection Act of 2009, Subtitle E: Improvements to the Asset-Backed Securitization Process, § 952(c). For public ABS transactions, disclosure is already required of ABS deal participants by Regulation AB.
Related Attorney(s)
Stuart Goldstein
Y. Jeffrey Rotblat
Neil Weidner
Gregg Jubin
Patrick Quinn
Lisa Pauquette
Frank Polverino
Anna Glick
Michael Gambro
Henry LaBrun
Related Practice(s)
Securitization & Asset Based Finance
Related Office(s)
CadwaladerNews
Cadwalader Conversation: Managing Partner Patrick Quinn and Associate Ruth Merisier
Patrick Quinn and Ruth Merisier discuss the legal profession, working at Cadwalader, and more.
CadwaladerSpotlight
Listen and subscribe to our podcast series! »
CadwaladerCabinet
To assist individuals in working from home during the coronavirus social-distancing period, Cadwalader is providing clients and friends free access to our legal research platform, the Cadwalader Cabinet.
Click here to obtain access »
Home | About | Practice | News | Resources | Offices | Careers | Contact
Site Map | Notices | Employees | Attorney Advertising
Cadwalader, Wickersham & Taft LLP
New York London Charlotte Washington


A Better Today Recovery Services wants to thank you for helping your patient seek drug and alcohol abuse treatment. The fact that you care about their future will be life changing for them. We welcome your professional referral for the treatment and care of patients who may be struggling from alcoholism & substance abuse addiction, co-occurring disorders, and prescription medication abuse.
Once you complete our secure form, a representative from A Better Today will contact you to have the patient's medical records transferred. We will then reach out to the patient to help them through this stressful process of getting them the treatment they need to reach their full potential in life. Thank you for helping us save lives and heal families.
Struggling with addiction is difficult, so why should your rehab be? ABT takes the risk out of the equation.
From the first phone consultation, to your rehabilitation and sobriety, ABT makes your privacy our number one concern.


- Are you f%cking kidding me?
- I hope you stub your toe.
- On a scale of 1 to extremely rude where would I fall if I were to just turn around and walk away.
This is an open letter to those who have ever asked a twenty-something that question.
Look, I get it. Your intentions behind asking the question is to get an exclusive inside glimpse into our long term goals and interest. You are programmed to ask those 8 words to see if any waving red flags are raised when we regurgitate an answer. The twenty something community is well aware that the way we handle this question could make or break us landing the job. #NoPressure.
Pause. Before we go any further let me ask you this Mr. Interviewer; prior to having a big ole fancy office did you know how to confidently answer that same question? At the age of 23, did you know specifically what you wanted to do and the path you were going to take? If you answered yes, to either of those questions, I commend you. However, it would be important for you to understand that the other half of the millennial generation (statistic made up by yours truly) is tirelessly swimming against the current trying to figure it out.
If you were to google "where do you see yourself in 5 years" the top hits are articles giving advice on how to properly answer that question. Ok so let's stop and think about that reallll quick. There are endless articles on the 'secrets to answering….' does anyone else see the irony in that? This one teeny tiny question has become a full blown monster that now requires practice and research. Uh, call me crazy but doesn't that wash away the entire genuine purpose of this question? Like oh ok here are the 3 best bullet points I should hit when answering this question so I can impress the guy wearing a sports coat at happy hour. No thank you.
Now, back to business. Want to know something absolutely riveting? I do not know where I see myself in 5 years. There, I said it. It's out there and you know what? It feels damn good to say it. Contrary to societal belief that does not mean I lack ambition. Quite frankly, I am one of the hardest working people I know. Having a question mark hanging over the next five years of my life does not mean that I lack focus or passion and it sure as hell does not mean that "I need to get my sh*t together." What I can tell you is this: my name will be the one on the office door and I will be able to go to yoga at 9AM instead of 6AM. I know that I will hold a position where I wake up pumped to dominate my to do list as opposed to doing it for a paycheck. I know the end goal of being in an environment that will allow my talents to shine as opposed to vigorously working on them on the side will be accomplished. I know that I will continue to make my loved ones proud and that I will smile extra big in the face of those who thought that my dreams were bigger than me.
I won't pretend for half a second that the unknown is a beautiful depiction of sunshine and smiles but there is an aura of excitement surrounding it. Oh the possibilities! Want the cold hard truth? I actually believe that a part of growing up is not having every step of our life planned out. If we were given a road map with directions on how to get from point A to Z then where would the fun be? How would lessons be learned? When would we have a chance to discover our true calling?
Before I leave you to go about your day I do want to make something crystal clear. There is and always will be a difference between hustling to find your place and thinking it will fall in your lap. If you find yourself in the second category and are down right lazy then honey, I wish you the best of luck.
To conclude, the next time someone asks you THE question slap a smirk on your face and tell them that you will get back to them in 5 years.