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S.E.C. Learns the Hard Way How Judges Are Like Umpires
The New York Times: Chief Justice John G. Roberts Jr. said during his confirmation hearing that “judges are like umpires,” and as every baseball fan knows, each umpire has a different strike zone.
The Securities and Exchange Commission is learning the hard way that having an unfavorable umpire can hurt its cases as it tries to fend off challenges to its use of in-house judges.
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