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Bainbridge Named to SEC

The White House today announced that:

President George W. Bush today announced his intention to nominate Stephen M. Bainbridge of California, to be Commissioner of the Securities and Exchange Commission, for the remainder of a five-year term expiring 6/05/08. Bainbridge is the William D. Warren Professor of Law at UCLA. Professor Bainbridge is a prolific scholar, whose work covers a variety of subjects, but with a strong emphasis on the law and economics of public corporations. He has written over 50 law review articles, which have appeared in such leading journals as the Harvard Law Review, the Virginia Law Review, the Northwestern University Law Review, the Cornell Law Review, the Stanford Law Review and the Vanderbilt Law Review. Bainbridge’s most recent books include: Business Associations: Cases and Materials on Agency, Partnerships, and Corporations (6th ed. 2006) (with Klein and Ramseyer); Agency, Partnerships, and Limited Liability Entities: Cases and Materials on Unincorporated Business Associations (2nd ed. 2007) (with Klein and Ramseyer); Agency, Partnerships & LLCs (2004); Corporation Law and Economics (2002); Securities Law-Insider Trading (1999). The President expressed confidence that Bainbridge’s nomination would be well received in the Senate and that the troubled capital markets would take confidence from the appointment.

In a separate announcement, UCLA School of Law Dean Michael Schill stated that “while we will miss Steve, when duty calls UCLA will always answer,”

I am, of course, deeply honored. For the full text of the press release, go here.

Update: Did you notice the market is up 391 points today?

UPDATE: Obviously, this was an April Fools joke. We now return you to your regular programming.