Document Type

Article

Publication Title

DePaul Law Review

Abstract

In this Article, I want to make three brief points about the centrality of ex post regulation at the deepest levels of the American conception of the rule of law. First, I want to contrast two regulatory models employed in this country, regulation under the Food and Drug Administration (FDA) and under the Securities and Exchange Commission (SEC), to highlight the difference between ex post and ex ante regulation. Second, I will look more closely at the SEC model to show just how critical private enforcement is to ex post regulation. Finally, I will conclude with a concern about the general tenor of tort reform and other initiatives whose effect, when examined en masse, is to circumscribe the availability of ex post accountability as a necessary complement to the liberalized ex ante economic environment in the United States. This final point ties into the central question of this Symposium: "Is the Rule of Law Waning in America?"

First Page

375

Volume

56

Publication Date

2007

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