1 00:00:00,000 --> 00:00:02,520 Speaker 1: Well, now it's time for our daily Bloomberg Lab Brief, 2 00:00:02,600 --> 00:00:05,120 Speaker 1: exploring legal issues in the news, and the law Brief 3 00:00:05,200 --> 00:00:09,000 Speaker 1: is brought to you by American Arbitration Association. Business disputes 4 00:00:09,039 --> 00:00:13,360 Speaker 1: are inevitable, resolve faster with the American Arbitration Association, the 5 00:00:13,360 --> 00:00:17,520 Speaker 1: global leader and alternative dispute resolution for over ninety years. More. 6 00:00:17,560 --> 00:00:21,200 Speaker 1: At a dr dot Org, Bloomberg LA host June Grosso 7 00:00:21,280 --> 00:00:24,599 Speaker 1: and Greg Store discussed President Trump's executive order that could 8 00:00:24,680 --> 00:00:28,920 Speaker 1: rescind national monument designations. They speak with Charles Warren, a 9 00:00:29,000 --> 00:00:32,280 Speaker 1: partner at Cramer Levin Off Talas and Frankel, and John Leshy, 10 00:00:32,360 --> 00:00:35,720 Speaker 1: professor at the University of California Hastings College of Law, 11 00:00:36,360 --> 00:00:38,800 Speaker 1: John Leshie. Let me start with you, where does the 12 00:00:38,800 --> 00:00:41,360 Speaker 1: authority come from in the first place for a president 13 00:00:41,440 --> 00:00:45,560 Speaker 1: to designate an area of land or an area of 14 00:00:45,720 --> 00:00:49,440 Speaker 1: the sea as a national monument comes from the Antiquities 15 00:00:49,479 --> 00:00:54,360 Speaker 1: Act of Statute Congress past back then. That has actually 16 00:00:54,400 --> 00:00:58,120 Speaker 1: been one of the most used and most successful conservation 17 00:00:58,200 --> 00:01:01,800 Speaker 1: statutes in American history. It applies only to federal land, 18 00:01:01,840 --> 00:01:04,399 Speaker 1: does not apply to state or private land, but it 19 00:01:04,520 --> 00:01:09,520 Speaker 1: authorizes the president to set aside uh and protect objects 20 00:01:09,520 --> 00:01:13,160 Speaker 1: of historic or scientific interest on those lands. Practically every 21 00:01:13,160 --> 00:01:16,280 Speaker 1: president since nineteen o six has used this authority presidents 22 00:01:16,319 --> 00:01:18,920 Speaker 1: of both parties and set aside well over a hundred 23 00:01:19,000 --> 00:01:22,120 Speaker 1: million acres of land on shore and several hundred millions 24 00:01:22,120 --> 00:01:24,640 Speaker 1: of acres of land off shore. John Let's stick on 25 00:01:24,680 --> 00:01:27,520 Speaker 1: the idea that a president might completely resin as opposed 26 00:01:27,520 --> 00:01:30,480 Speaker 1: to scale back at national monuments. Why should it be, 27 00:01:30,800 --> 00:01:33,480 Speaker 1: I mean, why shouldn't this be Like, you know, president 28 00:01:33,480 --> 00:01:35,920 Speaker 1: appoints somebody, a president can fire somebody. Why can't a 29 00:01:35,959 --> 00:01:40,240 Speaker 1: president undo an action taken by a previous previous president. Well, 30 00:01:40,560 --> 00:01:43,160 Speaker 1: I think it has to do with the special field 31 00:01:43,200 --> 00:01:46,240 Speaker 1: of public land law, which has always been somewhat different 32 00:01:46,240 --> 00:01:49,120 Speaker 1: from other areas of federal law. And around the same 33 00:01:49,160 --> 00:01:52,760 Speaker 1: time that Congress passed the Antiquities Act in nineteen o six, 34 00:01:53,040 --> 00:01:55,720 Speaker 1: it passed a number of other statutes that authorized the 35 00:01:55,760 --> 00:01:59,360 Speaker 1: president to take action to protect lands of federal lands 36 00:01:59,400 --> 00:02:02,160 Speaker 1: in one way or another. And in those other statutes 37 00:02:02,480 --> 00:02:06,160 Speaker 1: it said it gave the president authority to set aside 38 00:02:06,320 --> 00:02:09,120 Speaker 1: or unset aside. In other words, it specifically said you 39 00:02:09,160 --> 00:02:11,480 Speaker 1: can do this or you can revoke this. But in 40 00:02:11,520 --> 00:02:14,280 Speaker 1: the Antiquities Act. It stands out because it's one way. 41 00:02:14,400 --> 00:02:17,440 Speaker 1: It says you can set aside and protect land, but 42 00:02:17,520 --> 00:02:20,800 Speaker 1: it didn't say you could unprotect them. Check national monument 43 00:02:20,919 --> 00:02:24,480 Speaker 1: status has been revoked from only eleven sites, and each 44 00:02:24,560 --> 00:02:28,639 Speaker 1: of those cases Congress took away the site's national monument status. 45 00:02:29,240 --> 00:02:31,760 Speaker 1: Is that a strong indicator that it's Congress that should 46 00:02:31,800 --> 00:02:34,720 Speaker 1: do this. Yes, it really is Congress that has the 47 00:02:34,760 --> 00:02:39,120 Speaker 1: authority over public lands in the United States, and they 48 00:02:39,120 --> 00:02:41,960 Speaker 1: can do whatever they want. But I think it's a 49 00:02:42,000 --> 00:02:45,040 Speaker 1: stretch to say that the President, acting on his own, 50 00:02:45,120 --> 00:02:48,320 Speaker 1: can revoke one of these things. And that's Charles Warren, 51 00:02:48,400 --> 00:02:51,000 Speaker 1: a partner at Cramer Levin, enough Talis and Frankel, and 52 00:02:51,080 --> 00:02:54,840 Speaker 1: John Lushy, professor at the University of California Hastings College 53 00:02:54,840 --> 00:02:57,760 Speaker 1: of Law, speaking with Bloomberg, La Hoos, Sting Grosso and 54 00:02:57,800 --> 00:03:00,440 Speaker 1: Greg Sture. You can listen to Bloomberg Law Days at 55 00:03:00,480 --> 00:03:03,760 Speaker 1: one pm Wall Street Time here on Bloomberg Radio Now. 56 00:03:03,800 --> 00:03:06,680 Speaker 1: Among the top legal stories from Bloomberg Law, a trial 57 00:03:06,760 --> 00:03:09,680 Speaker 1: in New York is bringing back memories of the financial crisis. 58 00:03:09,919 --> 00:03:12,720 Speaker 1: Failed investment bank Lehman Brothers is trying to recover two 59 00:03:12,720 --> 00:03:15,600 Speaker 1: billion dollars from its old derivatives trading partners City Group. 60 00:03:15,960 --> 00:03:19,639 Speaker 1: Lehman says City created phantom transaction costs to create a 61 00:03:19,680 --> 00:03:22,320 Speaker 1: bankruptcy client that would allow it to keep cash Lehman 62 00:03:22,360 --> 00:03:26,680 Speaker 1: had deposited on the trades. City says the bank acted appropriately. 63 00:03:27,320 --> 00:03:30,360 Speaker 1: The UK as we're in Facebook, Google and Twitter to 64 00:03:30,480 --> 00:03:33,760 Speaker 1: improve its monitoring of hate speech, a panel of lawmakers 65 00:03:33,760 --> 00:03:37,360 Speaker 1: has urged Home Secretary Amber Rudd to consider making the 66 00:03:37,440 --> 00:03:41,000 Speaker 1: hosting of hate content a crime. The panel's report says 67 00:03:41,040 --> 00:03:43,880 Speaker 1: the companies are shamefully far from doing enough to deal 68 00:03:43,920 --> 00:03:47,560 Speaker 1: with illegal and dangerous material. Facebook says it agrees that 69 00:03:47,600 --> 00:03:50,760 Speaker 1: there is more it could be doing to stop hate speech. 70 00:03:51,280 --> 00:03:54,520 Speaker 1: Kawaiti Shaik, who has been a power player in soccer 71 00:03:54,640 --> 00:03:57,800 Speaker 1: and the Olympic movement, is quitting his soccer positions after 72 00:03:57,840 --> 00:04:02,160 Speaker 1: allegations of bribery. Shake Amad Alpha had al Saba had 73 00:04:02,200 --> 00:04:05,720 Speaker 1: been on the governing council of FIFA, the global soccer organization. 74 00:04:06,040 --> 00:04:08,560 Speaker 1: He has denied allegations made in a US court that 75 00:04:08,640 --> 00:04:12,680 Speaker 1: he bribed Asian officials and as this morning is Bloomberg Lawbrrie. 76 00:04:12,680 --> 00:04:14,960 Speaker 1: If you can find more legal news at Bloomberg Law 77 00:04:15,040 --> 00:04:18,320 Speaker 1: dot com and Bloomberg BNA dot com. Attorneys will find 78 00:04:18,320 --> 00:04:22,080 Speaker 1: exceptional legal research and business development tools there as well. 79 00:04:22,400 --> 00:04:25,720 Speaker 1: Visit Bloomberg law dot com and Bloomberg BNA dot com 80 00:04:26,160 --> 00:04:27,440 Speaker 1: for more information.