> There’s a reason I write about “everything is securities fraud” all the time. It is weird to filter US political and legal life through securities fraud; it i

> There’s a reason I write about “everything is securities fraud” all the time. It is weird to filter US political and legal life through securities fraud; it is weird to try to find ways to fit political disagreements into the framework of securities fraud. I mean, it’s fine when my readers email me about it — I sort of ask for it! — but it’s weird when actual politicians survey their range of potential actions and think “ah yes securities fraud lawsuit.” I wrote last year that “the thesis of ‘everything is securities fraud’ is that US law is somehow more responsive to financial-market claims than it is to other, substantive claims.”