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Veasey on Competitive Federalism and Delaware’s Role

Former Delaware Chief Justice Norman Veasey has authored a new paper entitled Whither Federalization of Delaware’s Corporate Law? (HT: Pileggi) It’s a valuable and thoughtful perspective. He concludes:

Although I am mindful of the admonition to “be careful what you ask for,” I think we should not always be waiting for the next scandal to stimulate Congress into an unwise paroxysm of federalization. I think there should be a comprehensive, general analysis of federalism vs. federalization beginning with the corporate area.

I agree. And, if such a debate were to occur, I would come down squarely on Delaware’s side for the reasons discussed in my article Creeping Federalization of Corporate Law.