Well, now it's time for our daily Bloomberg Lab Brief, exploring legal issues in the news, and the law Brief is brought to you by American Arbitration Association. Business disputes are inevitable, resolve faster with the American Arbitration Association, the global leader and alternative dispute resolution for over ninety years. More. At a dr dot Org, Bloomberg LA host June Grosso and Greg Store discussed President Trump's executive order that could
rescind national monument designations. They speak with Charles Warren, a partner at Cramer Levin Off Talas and Frankel, and John Leshy, professor at the University of California Hastings College of Law, John Leshie. Let me start with you, where does the authority come from in the first place for a president to designate an area of land or an area of the sea as a national monument comes from the Antiquities
Act of Statute Congress past back then. That has actually been one of the most used and most successful conservation statutes in American history. It applies only to federal land, does not apply to state or private land, but it authorizes the president to set aside uh and protect objects
of historic or scientific interest on those lands. Practically every president since nineteen o six has used this authority presidents of both parties and set aside well over a hundred million acres of land on shore and several hundred millions of acres of land off shore. John Let's stick on the idea that a president might completely resin as opposed to scale back at national monuments. Why should it be, I mean, why shouldn't this be Like, you know, president
appoints somebody, a president can fire somebody. Why can't a president undo an action taken by a previous previous president. Well, I think it has to do with the special field of public land law, which has always been somewhat different from other areas of federal law. And around the same time that Congress passed the Antiquities Act in nineteen o six, it passed a number of other statutes that authorized the president to take action to protect lands of federal lands
in one way or another. And in those other statutes it said it gave the president authority to set aside or unset aside. In other words, it specifically said you can do this or you can revoke this. But in the Antiquities Act. It stands out because it's one way. It says you can set aside and protect land, but it didn't say you could unprotect them. Check national monument status has been revoked from only eleven sites, and each of those cases Congress took away the site's national monument status.
Is that a strong indicator that it's Congress that should do this. Yes, it really is Congress that has the authority over public lands in the United States, and they can do whatever they want. But I think it's a stretch to say that the President, acting on his own,
can revoke one of these things. And that's Charles Warren, a partner at Cramer Levin, enough Talis and Frankel, and John Lushy, professor at the University of California Hastings College of Law, speaking with Bloomberg, La Hoos, Sting Grosso and Greg Sture. You can listen to Bloomberg Law Days at one pm Wall Street Time here on Bloomberg Radio Now. Among the top legal stories from Bloomberg Law, a trial in New York is bringing back memories of the financial crisis.
Failed investment bank Lehman Brothers is trying to recover two billion dollars from its old derivatives trading partners City Group. Lehman says City created phantom transaction costs to create a bankruptcy client that would allow it to keep cash Lehman had deposited on the trades. City says the bank acted appropriately. The UK as we're in Facebook, Google and Twitter to improve its monitoring of hate speech, a panel of lawmakers has urged Home Secretary Amber Rudd to consider making the
hosting of hate content a crime. The panel's report says the companies are shamefully far from doing enough to deal with illegal and dangerous material. Facebook says it agrees that there is more it could be doing to stop hate speech. Kawaiti Shaik, who has been a power player in soccer and the Olympic movement, is quitting his soccer positions after allegations of bribery. Shake Amad Alpha had al Saba had been on the governing council of FIFA, the global soccer organization.
He has denied allegations made in a US court that he bribed Asian officials and as this morning is Bloomberg Lawbrrie. If you can find more legal news at Bloomberg Law dot com and Bloomberg BNA dot com. Attorneys will find exceptional legal research and business development tools there as well. Visit Bloomberg law dot com and Bloomberg BNA dot com for more information.