Speaker 1: Well, now it's time for our daily Bloomberg Lab Brief,
Speaker 1: exploring legal issues in the news, and the law Brief
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Speaker 1: At a dr dot Org, Bloomberg LA host June Grosso
Speaker 1: and Greg Store discussed President Trump's executive order that could
Speaker 1: rescind national monument designations. They speak with Charles Warren, a
Speaker 1: partner at Cramer Levin Off Talas and Frankel, and John Leshy,
Speaker 1: professor at the University of California Hastings College of Law,
Speaker 1: John Leshie. Let me start with you, where does the
Speaker 1: authority come from in the first place for a president
Speaker 1: to designate an area of land or an area of
Speaker 1: the sea as a national monument comes from the Antiquities
Speaker 1: Act of Statute Congress past back then. That has actually
Speaker 1: been one of the most used and most successful conservation
Speaker 1: statutes in American history. It applies only to federal land,
Speaker 1: does not apply to state or private land, but it
Speaker 1: authorizes the president to set aside uh and protect objects
Speaker 1: of historic or scientific interest on those lands. Practically every
Speaker 1: president since nineteen o six has used this authority presidents
Speaker 1: of both parties and set aside well over a hundred
Speaker 1: million acres of land on shore and several hundred millions
Speaker 1: of acres of land off shore. John Let's stick on
Speaker 1: the idea that a president might completely resin as opposed
Speaker 1: to scale back at national monuments. Why should it be,
Speaker 1: I mean, why shouldn't this be Like, you know, president
Speaker 1: appoints somebody, a president can fire somebody. Why can't a
Speaker 1: president undo an action taken by a previous previous president. Well,
Speaker 1: I think it has to do with the special field
Speaker 1: of public land law, which has always been somewhat different
Speaker 1: from other areas of federal law. And around the same
Speaker 1: time that Congress passed the Antiquities Act in nineteen o six,
Speaker 1: it passed a number of other statutes that authorized the
Speaker 1: president to take action to protect lands of federal lands
Speaker 1: in one way or another. And in those other statutes
Speaker 1: it said it gave the president authority to set aside
Speaker 1: or unset aside. In other words, it specifically said you
Speaker 1: can do this or you can revoke this. But in
Speaker 1: the Antiquities Act. It stands out because it's one way.
Speaker 1: It says you can set aside and protect land, but
Speaker 1: it didn't say you could unprotect them. Check national monument
Speaker 1: status has been revoked from only eleven sites, and each
Speaker 1: of those cases Congress took away the site's national monument status.
Speaker 1: Is that a strong indicator that it's Congress that should
Speaker 1: do this. Yes, it really is Congress that has the
Speaker 1: authority over public lands in the United States, and they
Speaker 1: can do whatever they want. But I think it's a
Speaker 1: stretch to say that the President, acting on his own,
Speaker 1: can revoke one of these things. And that's Charles Warren,
Speaker 1: a partner at Cramer Levin, enough Talis and Frankel, and
Speaker 1: John Lushy, professor at the University of California Hastings College
Speaker 1: of Law, speaking with Bloomberg, La Hoos, Sting Grosso and
Speaker 1: Greg Sture. You can listen to Bloomberg Law Days at
Speaker 1: one pm Wall Street Time here on Bloomberg Radio Now.
Speaker 1: Among the top legal stories from Bloomberg Law, a trial
Speaker 1: in New York is bringing back memories of the financial crisis.
Speaker 1: Failed investment bank Lehman Brothers is trying to recover two
Speaker 1: billion dollars from its old derivatives trading partners City Group.
Speaker 1: Lehman says City created phantom transaction costs to create a
Speaker 1: bankruptcy client that would allow it to keep cash Lehman
Speaker 1: had deposited on the trades. City says the bank acted appropriately.
Speaker 1: The UK as we're in Facebook, Google and Twitter to
Speaker 1: improve its monitoring of hate speech, a panel of lawmakers
Speaker 1: has urged Home Secretary Amber Rudd to consider making the
Speaker 1: hosting of hate content a crime. The panel's report says
Speaker 1: the companies are shamefully far from doing enough to deal
Speaker 1: with illegal and dangerous material. Facebook says it agrees that
Speaker 1: there is more it could be doing to stop hate speech.
Speaker 1: Kawaiti Shaik, who has been a power player in soccer
Speaker 1: and the Olympic movement, is quitting his soccer positions after
Speaker 1: allegations of bribery. Shake Amad Alpha had al Saba had
Speaker 1: been on the governing council of FIFA, the global soccer organization.
Speaker 1: He has denied allegations made in a US court that
Speaker 1: he bribed Asian officials and as this morning is Bloomberg Lawbrrie.
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