> 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.

> 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. Seems utterly plausible. Financial-market claims feel rather likely to arise much more often, relatively speaking, among rich people than poor.