{"id":4209,"date":"2010-06-29T22:48:42","date_gmt":"2010-06-30T02:48:42","guid":{"rendered":"http:\/\/1boringoldman.com\/?p=4209"},"modified":"2010-06-29T22:50:34","modified_gmt":"2010-06-30T02:50:34","slug":"speaking-of-conflicts-of-interest","status":"publish","type":"post","link":"https:\/\/1boringoldman.com\/index.php\/2010\/06\/29\/speaking-of-conflicts-of-interest\/","title":{"rendered":"speaking of conflicts of interest&#8230;"},"content":{"rendered":"<div align=\"justify\">I&#8217;ve wondered what anyone reading this blog might think about my meanderings, particularly recently with my diversion into an idiosyncratic case from my own history, the case of Dr. Nemeroff &#8211; the number one paradigm for Conflicts of Interest in Psychiatry. How does that fit with the other things&nbsp; I like to write about &#8211; the Iraq War, the deceit of the Bush Administration, the absurdity of Republican oppositionalism, the Vatican sexual abuse scandal, etc.? I guess it all fits together to me, though I wouldn&#8217;t have been able to say it clearly yesterday. It&#8217;s all about hidden agendas &#8211; people with power misusing that power by not showing their cards.<\/div>\n<p align=\"justify\">I don&#8217;t think it&#8217;s only some morality thing that makes this stuff bother us so much. It&#8217;s just the fact that life is confusing enough without throwing in a bunch of unnecessary deceit to complexify it further. George Bush and Dick Cheney had a hair-brained scheme about oil and foreign policy that made an unholy mess. The guys on Wall Street had a field day playing with Derivatives and cdo&#8217;s and turned our economy&nbsp; into mush. Nemeroff and his pals got into the drug marketing business and played havoc with the an entire medical specialty. Conflicts of interest are inevitable, but they only do their damage when they&#8217;re secret.<\/p>\n<div align=\"justify\">Speaking of conflicts of interest, plausible deniability isn&#8217;t a standard for judges either:<\/div>\n<blockquote>\n<div align=\"center\"><strong><a target=\"_blank\" href=\"http:\/\/emptywheel.firedoglake.com\/2010\/06\/28\/judicial-ethics-in-the-gulf-judge-feldmans-conflicts-and-doj-malpractice\/\">Judicial Ethics in the Gulf: Judge Feldman&rsquo;s Conflicts  and DOJ Malpractice<\/a><\/strong><\/div>\n<div align=\"center\"><strong>emptywheel <\/strong><br \/>   By bmaz<br \/>  June 29, 2010 <\/div>\n<p> <\/p>\n<div align=\"justify\">Last week Federal district court  judge Matin Feldman of the Eastern District of Louisiana,&nbsp; in what  has become a controversial decision, overturned the six month  moratorium on deepwater oil drilling imposed by the Department of the  Interior. It was a legally curious decision to start with as it, on its  face, appeared to be contrary to the well established standard of review. Almost  immediately from the time Judge Feldman&rsquo;s decision hit the public  conscience, information on Feldman&rsquo;s undisclosed [at least on the case  record at issue)]financial ties to the oil and gas exploration industry  started coming out of the woodwork. From Saturday&rsquo;s <strong><a target=\"_blank\" href=\"http:\/\/www.washingtonpost.com\/wp-dyn\/content\/article\/2010\/06\/25\/AR2010062504155.html?hpid=topnews\">Washington Post<\/a><\/strong>:<\/div>\n<ul>\n<div align=\"justify\"><sup>The  federal judge who presided over a challenge to the Obama  administration&rsquo;s six-month moratorium on deepwater oil drilling  simultaneously owned stock in an oil company affected by the ban,  according to a financial disclosure statement released Friday. U.S.  District Judge Martin L.C. Feldman sold the stock in Exxon Mobil 14  days after the case was filed in New Orleans by a group of oil service  firms &mdash; and less than five hours before he struck down the moratorium. Feldman  said in a statement elaborating on the disclosure that he was unaware  of his holdings in Exxon Mobil and a smaller oil company until 9:45 p.m.  Monday, the day before he issued his ruling.<\/sup><\/div>\n<p>   <\/p>\n<div align=\"justify\"><sup>&ldquo;Because he  remembered that Exxon, who was not a party litigant in the moratorium  case, nevertheless had one of the 33 rigs in the Gulf, the judge  instructed his broker to sell Exxon and XTO [Energy Inc.] as soon as the  market opened the next morning,&rdquo; according to a statement released by  his chambers and reported by Bloomberg News. Even before this  latest disclosure, Feldman was criticized by environmental groups and  others for not recusing himself from the case. The groups pointed to his  2008 disclosure form, which showed that he had invested in companies  involved in offshore oil and gas exploration.<\/sup><\/div>\n<\/ul>\n<div align=\"justify\">So  Judge Feldman not only held numerous oil and gas interest stocks, but  was trading them up to and including the morning of his fateful  decision, and doing so out of an admitted realization that he had an  appearance of ethical conflict. Feldman owned and was trading Exxon  stock, a company whose Gulf of Mexico rigs were losing money at the rate  of a half million dollars a day due to the moratorium, during the  entire time he was assigned the case. Yet, failing to disclose his  appearance of conflict on the record or recuse, Feldman nevertheless  proceeded to issue a questionable decision clearly benefitting the oil  and exploration industry he is so invested in.<\/div>\n<p align=\"justify\">Lest there be any  confusion that perhaps Judge Feldman somehow put himself in the clear by  suddenly selling off his holdings in Exxon on the morning of June 22  just hours before issuing his surprising opinion  contrary to normal standards of review for such issues, keep in  mind the subject case of <em>Hornbeck Offshore Services et. al v.  Salazar<\/em> had been assigned to Feldman for two weeks and,  significantly, the adversarial hearing the opinion resulted from  actually occurred the day prior, June 21, while Feldman obviously still  held the stock even he considered an ethical issue. <\/p>\n<p align=\"justify\">Even more  distressing is the fact that it has now been revealed from Judge  Feldman&rsquo;s 2009 financial disclosure, literally just filed and only  released this week after demand resulting from his questionable ruling,  that Feldman is<em> very<\/em> heavily invested in Blackrock Financial  products. Blackrock is, of course, the single biggest shareholder in  BP. As the <strong><a target=\"_blank\" href=\"http:\/\/dealbook.blogs.nytimes.com\/2010\/06\/17\/bps-shareholders-take-it-on-the-chin\/\">New York Times<\/a><\/strong> put it:<\/p>\n<ul>\n<div align=\"justify\"> <sup>No single institution has more money riding on BP than  BlackRock, the money management firm that is BP&rsquo;s largest shareholder.<\/sup><\/div>\n<\/ul>\n<p align=\"justify\">Well  that certainly sounds like reason to pause, eh? There are two sources  of guidance for federal judges such as Feldman in instances like this,  the statutory guidance of <strong><a target=\"_blank\" href=\"http:\/\/www.law.cornell.edu\/uscode\/28\/455.html\">28  USC 455<\/a><\/strong> and the <strong><a target=\"_blank\" href=\"http:\/\/www.uscourts.gov\/Viewer.aspx?doc=\/uscourts\/RulesAndPolicies\/conduct\/Vol02A-Ch02-OGC-Post2-Code-of-Conduct-for-Judges.pdf\">Code of Conduct for United States Judges<\/a><\/strong> contained  within the Guide to Judiciary Policy of the US Courts&#8230;<\/p>\n<p align=\"center\"><sup>[bmaz reviews the statutes here which show clear Conflict of Interest in this case] <\/sup> <\/p>\n<p align=\"justify\">Feldman was required by both statutory  and ethical considerations to recuse himself; at a absolute base minimum  to disclose his appearances of conflict on the record; but he did  neither. Any competent standard of lawyering would mandate the  government to raise the issue if they are going to competently fight  Feldman&rsquo;s ruling; but they have not, and they have engaged in other  consistently questionable lawyering on this case as well.<\/p>\n<div align=\"justify\">The  public ought to be asking what in the world is going on here. On all  fronts.<\/div>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>I&#8217;ve wondered what anyone reading this blog might think about my meanderings, particularly recently with my diversion into an idiosyncratic case from my own history, the case of Dr. Nemeroff &#8211; the number one paradigm for Conflicts of Interest in Psychiatry. How does that fit with the other things&nbsp; I like to write about &#8211; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_forum_subforum_count":0,"footnotes":""},"categories":[2],"tags":[],"class_list":["post-4209","post","type-post","status-publish","format-standard","hentry","category-politics"],"_links":{"self":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/4209","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/comments?post=4209"}],"version-history":[{"count":0,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/posts\/4209\/revisions"}],"wp:attachment":[{"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/media?parent=4209"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/categories?post=4209"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/1boringoldman.com\/index.php\/wp-json\/wp\/v2\/tags?post=4209"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}