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Ricci, Raniola, and Dabit

Legal news-junkies will immediately recognize that the title of this diary is a list of some notable decisions by Judge Sonia Sotomayor, instead of an obscure legal partnership in... Omaha, maybe.

"Discussion" of Sotomayor's nomination to the Supreme Court in the mainstream media will probably buzz around Ricci, with some carry-over into Raniola, but if Sotomayor's opponents had any real regard for the truth of the situation (and they don't), they would forget about trying to convict the nominee of extra-judicial "empathy" in connection with her high-profile rulings in the area of work-place and employment discrimination, and concentrate instead on the only instance where Sotomayor may have actually jumped the tracks of judicial restraint, and written an opinion based on sympathy for a plaintiff and revulsion for one of the most miserable statutes (SLUSA) ever enacted in the ongoing transformation of federal law into a shield for the ultra-rich against the rest of us, and that would be Judge Sotomayor's opinion in Dabit v. Merrill Lynch, Pierce, Fenner & Smith, Inc., 395 F.3d 25 (2d Cir. 2005), and its sequels.

The Securities Litigation Uniform Standards Act of 1998 (SLUSA) throws class-action suits against deceptive stockbrokers out of state courts, in the same way that the Private Securities Litigation Reform Act (PSLRA) had previously thrown them out of federal court.

What a beautiful statute!

Now annoying little investors can't clog any kind of courts with class-action suits against our benevolent Wall Street masters, no matter how deceitful they may be!

But SLUSA only specifically denied class-action suits based on purchasing trash stocks, and Sotomayor opined that suits based on retaining trash-stock could proceed in the state courts.

This decision was crushed 8-0 in the Supreme Court, with a majority opinion composed by Justice John Paul Stevens, an icon of the liberal judiciary.

Anyone who bothers to read Judge Sotomayor's