Word: sovereigns
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Dates: during 2000-2009
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...many legal experts see suits against the SEC as a steep uphill battle because government entities enjoy sovereign immunity. "To sue the government is a very tough proposition," says Dan Reinberg, a partner at Polsinelli Shughart PC. He adds that government entities have sovereign immunity for good reason. "The regulators are there to do a job that the public has asked them to do, and if they can be sued for negligence or mismanagement in their official function, then who's going to want to be a regulator?" he asks...
...Overcoming the sovereign-immunity protection is the biggest hurdle, concurs David Bernfeld, a partner at Bernfeld Dematteo & Bernfeld LLC, who represents about a dozen Madoff victims. However, he believes the inspector general's report offers enough ammunition to prove negligence - which is the bullet needed to pierce the sovereign-immunity defense and make the SEC liable...
...report was really candid. It's an astonishing litany of indifference and ineptitude" that occurred over a long period of time, Bernfeld says. "And this should be helpful in getting past the sovereign-immunity defense because it makes clear that this was not simply a decision not to investigate - it was a series of investigations undertaken but negligently performed...
...Three years ago, Gaddafi opted to invest his excess oil revenues in a sovereign wealth fund called the Libyan Investment Authority, which has rocketed in value thanks to soaring oil prices on the world market. The fund has about $65 billion in capital, part of which Libya has used to build five-star resorts in African capitals and to run Afriqiyah Airways, which crisscrosses the Mediterranean to European cities...
...inconceivable that we would ever understand how two sovereign governments would control the very same piece of real estate. We don't know how that would work," Huckabee said, elaborating on his opposition to the two-state solution. He compared the ban on Israeli settlements in Arab areas of East Jerusalem and the West Bank to segregation between black and white Americans in the deep South during his childhood. He called for "integration" between Israelis and Arabs. (See pictures of life in the West Bank settlements...