A History of Securities Law in the Supreme Court

This comprehensive history of modern US securities law illustrates the key jurisprudential changes at the Supreme Court since the New Deal. The authors use the justices’ internal memos, notes, and preliminary drafts to tell the story of how they actually decided the cases. The securities laws were an ambitious expansion of the administrative state. That expansion required a transformation of the Court’s approach to business regulation, abandoning the Court’s prior hostility to government intervention.