Associate Professor @ColumbiaLaw. Financial institutions; central banking; public administration; networks, platforms, utilities.
New York, NY
Joined January 2019
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Lev Menand retweeted
Excited to share my new article on appropriations law and executive power, forthcoming in the @HarvLRev.
Comments are welcome! (Link below.)
Lev Menand retweeted
NEW ODD LOTS:
After two major SCOTUS decisions, Fed independence is now hanging by a thread.
@tracyalloway and I have a long chat with @NathanTankus and @LevMenand about the tenuous exception to the Slaughter ruling that kept Lisa Cook in her job podcasts.apple.com/us/podcas…
Lev Menand retweeted
The government forced Anthropic's most capable models offline for 18 days. OpenAI delayed GPT-5.6 when asked. Intel gave Washington a 10% stake. My latest in @theprospect on how the industry that swore it didn't need the state learned to work with it. prospect.org/2026/07/14/sili…
Last week, the Supreme Court endorsed an extreme view of inherent presidential power (Slaughter), but then made an exception for the Federal Reserve (Cook). Here are some thoughts on the ruling and how things might unfold from here: justsecurity.org/145707/slau…
1/n
It gets the history wrong (see, e.g., @Jane_C_Manners @jedshug @ascoseriakatz @narosenblum) and it cannot explain why, on its reading of the history, all cases where partisan administration might threaten public policy efficacy don't justify limits on removal
5/n
For a fuller treatment of the ways in which the Unitary Executive Theory is incompatible with central bank independence, see here papers.ssrn.com/sol3/papers.…
/end
Soon SCOTUS will rule on whether Congress has the power to insulate some administrators from the will of the president (something it has done since 1790). @narosenblum have a new essay on adlaw "pluralism" and "monism" that considers some of the stakes papers.ssrn.com/sol3/papers.…
I've written a response to the Supreme Court's latest ruling on Fed independence:
papers.ssrn.com/sol3/papers.…
The problem is its reasoning makes no sense. It says:
"The Federal Reserve is a uniquely structured, quasi-private entity that follows in the distinct historical tradition of the First and Second Banks of the United States.”
I assess this rationale in the essay available here:
papers.ssrn.com/sol3/papers.…
Lev Menand retweeted
Great show this week with @LevMenand & Josh Younger who discuss how Treasury market liquidity is a policy choice! They have a new paper covering the legislative and regulatory history that have led to the current fragility in Treasury markets. (1/5)
directory.libsyn.com/episode…
Lev Menand retweeted
15 years after the financial crisis, Wall Street banks are bigger than ever and still depend on taxpayer bailouts to avoid an economic meltdown.
Powerfully important op-ed by @LevMenand & @MorganRicks1 on structural changes to end Too Big to Fail. washingtonpost.com/opinions/…
Lev Menand retweeted
"It’s time to separate depository banks from other financial businesses and treat them as public utilities," @LevMenand and @MorganRicks1 write in a guest opinion. wapo.st/45Ri7hc
Lev Menand retweeted
Making & remaking the most important market in the world. Or why everyone should read Menand and Younger on Treasuries.
Chartbook Newsletter 238 just dropped.
Check it out and sign up for more: open.substack.com/pub/adamto…