Monthly Archives: August 2021

Trading.TV Launches Out of Stealth with $6.1 Million in Seed Funding to Support Financial Creators – Business Wire

Posted: August 2, 2021 at 1:36 am

NEW YORK--(BUSINESS WIRE)--Trading.TV, the worlds first social livestream and immersive chat platform for traders and financial content creators, announced today the launch of its platform, closed beta and a $6.1M seed funding round led by L Catterton Growth, Activant, Navy Capital and Tribe Capital. As part of the launch, Trading.TV also announced a $1M Creator Fund to support the first group of creators joining the platform.

Trading.TV is the only dedicated platform for creators to develop and share financial content on everything from stocks to crypto to NFTs and rare sneakers. Eventually, Trading.TV will also serve as a commission-free trading platform where community members can turn information into action.

There has never been such a large influx of new asset classes and new traders to the markets - and with that comes a massive need for both entertaining and educational financial content. Trading.TV will remove the friction between idea generation and investment execution for millions of fans, followers and audiences around the world.

By building a platform that is digitally native, values diversity of interests and assets, and puts inclusion at its center, we hope to unlock financial wellbeing for millions of people that havent previously felt welcome in the financial conversation, said Trading.TV Founder and CEO Tobias Heaslip. We want to empower and excite younger generations to start thinking about their financial futures sooner -- to do smart things with their investments earlier on so they can live life on their own terms.

Trading.TV is the first and only fintech platform purpose built for the creator economy. It will be a destination for financial influencers to create entertaining content and build communities around their interests and users to buy and sell the underlying assets that creators are talking about.

Trading.TV is currently hand picking its first 50 creators to join the closed beta, unlocking new ways for them to monetize their content and offering immediate support through the $1M Creator Fund. In addition to the fund, Trading.TV will use its seed funding to continue building the team and investing in platform growth ahead of public availability in the fall.

Creators interested in joining Trading.TVs closed beta can apply here. People interested in joining the Trading.TV community and getting early access to creator content can sign up for the waitlist here.

About Trading.TV

Trading.TV is the world's first social livestream platform purpose-built for the next generation of traders and financial content creators. In an era where everything is an asset and everyone is a trader, Trading.TV offers the content, community and collaboration necessary to become an expert. We're dedicated to a future where anyone can Stream, Chat and Trade their way to financial independence.

For more information, visit https://www.trading.tv/

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Why the affluent Latino population is growing strikingly faster than other wealthy groups – Houston Chronicle

Posted: at 1:36 am

Supreme Court Justice Sonia Sotomayor and Roberto Goizueta, an immigrant from Cuba who became the CEO of the Coca-Cola Company, rose from humble beginnings to wealth. A new study indicates more and more of their fellow Latinos are becoming affluent.

A report released Wednesday by Merrill Lynch Research mentions them in its profile of affluent Latinos, a segment growing faster than in the general population of the United States.

According to the report, the segment of affluent people, or those with incomes of $125,000 or higher, has grown 81 percent among Hispanics during the last five years compared to 53 percent in the general population.

The complexion of wealth in our country continues to demonstrate that it's changing, and changing at a rapid pace, with Latinos playing a significant role in diversifying the U.S. market, said Jen Auerbach Rodriguez, head of Strategic Growth Markets at Merrill Lynch.

Auerbach said that studies about the Hispanic population have shown its increasing market participation and influence, with an overall purchasing power of $1.5 trillion and productivity that would make them the eighth largest GDP in the world if they were an independent country.

But while the popular narrative can often spend a lot of time at the bookends of the wealth spectrum, this (study) is really meant to populate the narrative desert that exists in between, Auerbach said. She added that the study is part of a larger project of five years of studying diverse communities, including Black and LGBT people, using interviews and immersive techniques to add nuance and knowledge about frequently stereotyped communities and market perceptions.

Auerbach said that the most profound three topics mentioned by affluent Latinos in the study as the biggest motivators in their life are family, followed by hard work and education, and then giving back.

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Affluent Hispanics are three times more likely than the general population to say that they are driven by a desire to make their family proud, the report said. More than two-thirds of them identify with the statement that Family is the most important aspect of my life.

They are also four times more likely to list planning to financially assist or support their aging parents at the top of their financial goals.

"For many Hispanics, financial success is defined by the ability to support ones parents as they age, and this research further emphasizes the importance placed upon (the) care of our older generation, said Rick Jaramillo, Bank of America Houston Market Executive.

The greater Houston area is home to the nation's fourth-largest Hispanic-Latino population, and this report reveals that the national growth of affluent households within this population has grown considerably, he said.

Auerbach said that one of her favorite quotes cited in the report from interviewed people is, My inheritance was hard work. She said it emphasizes the fact that many affluent Latinos are immigrants or children of immigrants who came with nothing, with a primary goal to provide for their families, settle and leave a legacy for continuity.

The report said that affluent Latinos or their immediate family members are more likely to have come from outside the U.S. Almost 30 percent said they are originally from another country while 38 percent said the same about at least one of their parents.

Although the report doesnt profile this population by region, the overall trend of wealth growth is reflected in Houston, according to Laura Murillo, the CEO of the Greater Houston Hispanic Chamber of Commerce.

We are experiencing and seeing more and more wealth, even among the younger, where they are purchasing properties and real estate, and they're learning from people who have been or have become successful in their community, Murillo said.

Murillo herself is an example in the city of a prominent affluent Latina who was raised from humble beginnings to become a successful Latina leader who has been named one of the Women who Run Houston and among the Most Powerful & Influential Women in Texas, among other distinctions.

The youngest of nine children of Mexican immigrants supported by a father who was a tile mason, Murillo began working at 10 at a Mexican restaurant that he opened in Houston. She went on to study, earned a doctorate and has led the chamber to become the largest organization of its kind in a U.S. city during her 15 years as president.

Murillo said that people like her are only the tip of the iceberg of wealth creation among Hispanics and that women, in particular, are increasingly joining the rank of small business creation in Houston.

Among Hispanic affluent women, the study found that they are 30 percent more likely to list the desire to achieve financial independence as their top financial motivator compared to their men peers.

Still, with all the advancement and wealth grow among Latinos, We have a lot of work to do, Murillo said. We know there are many Latinos who are still lacking opportunities and education and training.

The Houston leader said she hopes that the wealthy Latinos will continue giving back and put more resources and influence in getting elected to offices, so they help change public policy to help those behind them.

olivia.tallet@chron.com

Twitter.com/oliviaptallet

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The Supreme Court and blind partisanship ended the illusion of independent agencies | TheHill – The Hill

Posted: at 1:36 am

For decades, we have lived under the shared view that independent agencies should be insulated from the raw partisan politics that frustrate our ability to manage government competently. That illusion was finally revealed when President BidenJoe BidenThe Supreme Court and blind partisanship ended the illusion of independent agencies Missed debt ceiling deadline kicks off high-stakes fight Senate infrastructure talks spill over into rare Sunday session MORE firedSocial Security Administration Commissioner Andrew Saul earlier this month.

Unlike most of the 1,200 presidentially appointed senate confirmed (PAS) positions who can be fired for any reason, the commissioner of Social Security thanks to the 1994 Social Security Independence and Program Improvements Act was appointed for a six-year term and could only be fired for cause. The six-year term was necessary to ensure that the SSA would have the long-term consistent management necessary to lead an agency without political pressure. SSA touches the lives of millions of Americans as the largest government program with expenditures of over $1 trillion annually covering 180 million workers and paying benefits to almost 70 million Americans including retirees, widows, disabled workers, survivors, and Supplemental Security Income recipients.

The independent status of many agencies was placed into question when the Supreme Court ruled in 2020 (Seila Law v. CFPB) that the president has the authority to fire the head of the Consumer Financial Protection Bureau. The Court took issue that a member of the Executive branch of government could hold so much power without the ability of the president to fire at will. The Courts concern was limited to those agencies with a single head of power, not a commission structure, such as the Securities and Exchange Commission. The Chief Justice wrote, an unlucky President might be elected on a consumer protection platform and find herself saddled with a holdover director from a competing political party who is dead set against that agenda.

The independent status of agencies was further eroded with the courts 2021 decision in Collins v. Yellen, when it ruled that the head of the Federal Housing Finance Agency (where one of us was its first director) could be fired by the president for any reason, and then one was fired immediately.

The final nail in the agency independence coffin was hammered on July 9, when Biden fired Saul in what Saul described as echoing Nixons Friday Night Massacre. Any illusion remaining that independent agencies were insulated from political interference ended that night.

Many will agree with the Supreme Courts decision that agency heads should serve at the pleasure of the president. One would hope that the test for dismissal would model Chief Justice Roberts theme of major policy differences rather than removing a competent manager who was making long overdue reforms in systems, the disability program and communications to better serve the American people, at the behest of labor unions.

One of the reasons reforms were overdue was that there were six years of acting commissioners prior to Sauls two years.

Our immediate concern is that Bidens firing of Saul will create ripple effects that will hamper the ability of SSA to be managed effectively and with bipartisan oversight. There is now a new, unconfirmed Biden political appointee serving as the acting commissioner, with limited management experience. It is questionable that Senate Republicans will vote to confirm any Biden appointee for the Social Security Commissioner position after the Saul Massacre.

The politicization of the federal government has been growing worse for many years. However, Sauls summary dismissal makes the politicization surrounding Social Security, and the programs the agency administers, even worse. As of today, the Social Security Trustees Report is over three months late. The two public trustee positions, Republican and Democrat, which provide much needed public oversight, have been vacant for the last six years. The three PAS positions on the seven-member Social Security Advisory Board are also vacant. No nominees are pending for any of these important public oversight positions.

Social Security faces immense challenges that will require effective leadership, management and bipartisan oversight given its massive pending deficits. Bidens decision to fire Saul further increases the challenges and barriers the agency faces in managing the Social Security programs that impact the lives of hundreds of millions of Americans. Congress should immediately hold hearings on the leadership and governance of the Social Security Administration and its programs, and look to create a new, politically stable management and oversight structure.

Jason J. Fichtner and James B. Lockhart III, both served in the position of principal deputy commissioner of Social Security. Lockhart also served as director of FHFA. Fichtner was the last presidential nominee for the Social Security Advisory Board, while Lockhart was the last nominee for Public Trustee of Social Security and Medicare. Both nominations timed out without a Senate vote at the end of 2020.

Fichtner is vice president and chief economist at the Bipartisan Policy Center. Lockhart is a senior fellow at BPC and co-chairs BPCs Commission on Retirement Security and Personal Savings.

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The Supreme Court Further Expands The Definition Of A Physical – Mondaq News Alerts

Posted: at 1:35 am

At the end of its recent term, the U.S. Supreme Court handeddown a new decision on the law of takings. The case, CedarPoint Nursery v. Hassid, was a labor relations disputedisguised as a takings case, but its resolution has importantimplications for the terms on which New York developers can getaccess to adjoining property in aid of their construction projects.In Cedar Point Nursery, a divided Court ruled, by a 6-3vote, that a state regulation authorizing very limited temporaryentry by union organizers onto private agricultural propertyamounted to a physical "taking" of property that violatedthe Fifth and Fourteenth Amendments to the Constitution.1 Thedecision expands the concept of what is a physical taking andraises questions about the further expansions of takings law thatmay follow.

The last clause of the Fifth Amendment to the U.S. Constitution,part of the Bill of Rights adopted in 1791, provides: "norshall private property be taken for public use, without justcompensation." Although originally applicable only to thefederal government, the Fourteenth Amendment, adopted after theCivil War, makes the principle equally applicable to the states andtheir political subdivisions.2

The most obvious example of a taking is when the government or a private party authorized by law to do so (such as autility) exercises the power of eminent domain to acquireactual ownership of private property, or at least a permanentinterest in property. In that situation, a public purpose and justcompensation are required by the Constitution.3 Other situations are notso obvious and have spawned a large body of court decisionsaddressing countless permutations.

Supreme Court precedent distinguishes between"physical" takings and "regulatory" takings.Physical takings are unconstitutional per se (i.e., automatically)in the absence of a public purpose and compensation. By contrast,an owner's claim that it has been subjected to a regulatorytaking in effect, a claim that although there has been nophysical invasion of its property, a law, regulation or othergovernmental action has intruded so far into its property rights asto amount to a taking must be analyzed and evaluated on afact-specific, case-by-case basis.

What rises to the level of a physical taking, however, isn'talways clear either, and the concept has expanded over the years.In 1946, the Supreme Court held that repeated low-altitudeoverflights by military aircraft approaching and leaving a nearbyairport, the effect of which was to destroy the owners' abilityto operate their chicken farm, constituted a taking.4 In 1979,the Court held that the government's claim of a navigationalservitude over private property, the effect of which was to allowthe public to access the property on a continuous basis,effectuated a taking.5 And in 1982, the Court held that even ade minimis permanent physical occupation of property is a taking;more specifically, the Court struck down as unconstitutional a NewYork statute requiring owners of apartment buildings to allow cableTV companies to attach their cables to the owners'buildings.6 Which brings us to the Cedar PointNursery case.

A regulation under California's Agricultural Labor RelationsAct gave labor organizations a limited right of access to privateagricultural property. Access was allowed in no more than four30-day periods in any one calendar year, and only during threehours during any one day one hour before work, one hourduring the lunch break and one hour after work. Access was limitedto two organizers per work crew, plus one additional organizer forevery 15 workers over 30 workers in a crew. The property owner wasentitled to prior notice. Disruptive conduct was prohibited, butthe union organizers were otherwise free to meet with employees todiscuss labor or union issues.

Cedar Point Nursery is a large California strawberry grower. Itclaims that, one morning in 2015, United Farm Workers organizersentered its property and disturbed its operations, causing someworkers to join a protest and others to leave the worksite. Alongwith a second grower, it sued in federal court, arguing thatCalifornia's regulation effected an unconstitutional physicaltaking of its property. The trial court dismissed the lawsuit, anda divided U.S. Court of Appeals for the Ninth Circuit affirmed thatdecision. The Supreme Court agreed to hear the case.

The Court reversed the Ninth Circuit's decision and ruled infavor of the nursery. Perhaps not surprisingly, given thecase's origin in a dispute about union activity, the Courtsplit along partisan lines, with the six Republican-appointedjustices forming the majority and the three Democrat-appointedjustices dissenting.

Chief Justice John Roberts wrote for the majority that "theaccess regulation appropriates a right to invade the growers'property and therefore constitutes a per se physical taking."The opinion emphasized that the short duration of time during whichthe regulation allowed entry onto property was irrelevant, and thelength of the appropriation "bears only on the amount ofcompensation." The opinion affirmed that physical invasionsare takings even if they are intermittent instead of permanent,citing United States v. Causby, the 1946 decision in whichthe Court held that occasional low-altitude military overflightshad effected a taking (although in Causby the overflightshad destroyed the owners' business).

To reconcile this absolutist definition of a taking withcommonly recognized circumstances in which limited entry ontoprivate property has long been allowed, the majority opinionarticulated a series of exceptions to this per se rule. First,"isolated physical invasions, not undertaken pursuant to agranted right of access, are properly assessed as individual tortsrather than appropriations of a property right." Second,access that is "consistent with longstanding backgroundrestrictions on property rights," including "traditionalcommon law privileges to access private property," is anotherexception. And third, "the government may require propertyowners to cede a right of access as a condition of receivingcertain benefits, without causing a taking."

The dissenting opinion was written by Justice Stephen Breyer. Itargued that the California regulation did not effect a per setaking because it did not appropriate anything, but only regulatedemployers' right to exclude others from their property.

The Cedar Point Nursery majority and dissentersdisagreed about how to distinguish between the appropriation ofproperty and regulation of the right to exclude. Because the Courtheld that the California regulation allowing limited access byunion organizers to agricultural properties was in fact anappropriation, the decision raises questions about how much furtherthe Court might go and how far property rights advocateswill push the Supreme Court and lower courts in expandingthe concept of a taking.

To begin with, any law or regulation requiring that unionrepresentatives be given access to a workplace or job site is now to say the least constitutionally suspect.

In future cases, moreover, courts are likely to be asked toclarify the exception to the per se rule that Cedar PointNursery recognized for access that is "consistent withlongstanding background restrictions on property rights." Theopinion provided no further definition of this exception beyond areference to "traditional common law privileges." Priorcase law from around the country has recognized multiple situationsin which entry onto another's land without the owner'spermission is allowable, including, for example, to bypass animpassible section of a public road, to retrieve personal property,to abate a private or public nuisance, to stop a crime or to make alawful arrest.7Are all of these examples still good law after Cedar PointNursery?

Even if these cases remain good law, is only court-made lawstill valid? One possible implication of the absolutistinterpretation of a taking in Cedar Point Nursery is that,while court-made exceptions to the per se rule remain valid, stateand local governments are powerless to enact statutes thatrecognize limited rights of entry in defined circumstances.

In 1980, for example, a unanimous Supreme Court agreed thatCalifornia's Supreme Court could properly interpret its stateconstitution as protecting the right of peaceful protestors to setup a card table in a shopping mall's central courtyard,distribute pamphlets and collect signatures over the objection ofthe mall's owner, which maintained a blanket policy againstexpressive activity on its premises.8 In reaching this result,the Court's opinion, written by Justice (later Chief Justice)William Rehnquist, explained that, while "property does not'lose its private character merely because the public isgenerally invited to use it for designated purposes,'"that principle "does not ... limit the authority of the Stateto exercise its police power or its sovereign right to adopt in itsown Constitution individual liberties more expansive than thoseconferred by the Federal Constitution."9 In response to the mallowner's contention that "a right to exclude othersunderlies the Fifth Amendment guarantee against the taking ofproperty without just compensation," the Supreme Court'sopinion explained that "it is well established that 'notevery destruction or injury to property by governmental action hasbeen held to be a "taking" in the constitutionalsense,'" and "the determination whether a state lawunlawfully infringes a landowner's property in violation of theTakings Clause requires an examination" of multiplefactors.10

The only way to reconcile this case-by-case approach with theper se rule of Cedar Point Nursery is to rely on the factthat the shopping mall was open to the public, although not for thepurpose that the visitors in that case sought to use it, while inCedar Point Nursery the owners did not open their land tothe general public. But the Court specifically said in the shoppingmall case (and in prior cases) that private property does not"lose its private character" even if it is open to thegeneral public a point that is inconsistent with adistinction based on private property's status as open to thegeneral public.

Closer to home, New York has a statute, Section 881 of the RealProperty Actions and Proceedings Law, that empowers courts to grantlicenses allowing property owners to gain temporary access toneighboring property for the purpose of effectuating repairs orimprovements to their own property "upon such terms as justicerequires." The statute often has been used by developers andtheir contractors to compel recalcitrant neighbors to allow them toenter onto adjoining property to perform surveys and installprotective measures. The statute does not require compensation,although it is not unusual for courts, in the exercise of theirdiscretion, to require the payment of a fee if the entry is formore than a de minimis length of time for example, if thepurpose of the entry is to install and maintain temporaryprotective scaffolding. Is this statute unconstitutional due to itsfailure to expressly require the payment of "justcompensation" in accordance with the Fifth Amendment? Orperhaps due to its creation of a right of access in the service ofa private purpose rather than a public one? It seems inevitablethat these issues and others of a similar nature will be litigated in a future case. The risk of the issue beingraised should motivate developers to avoid litigation if possibleand to be prepared, if necessary, to augment the usual protectionsprovided in access agreements (such as indemnification andinsurance) with some amount of compensation for the temporaryintrusion onto a neighbor's property.

Footnotes

1 CedarPoint Nursery v. Hassid, 594 U.S. ___ (No. 20-107, June 23,2021).

2Chicago, Burlington & Quincy Railroad Co. v. City ofChicago, 166 U.S. 226 (1897).

3Id.

4United States v. Causby, 328 U.S. 256 (1946).

5Kaiser Aetna v. United States, 444 U.S. 164(1979).

6Loretto v. Teleprompter Manhattan CATV Corp., 458 U.S. 419(1982).

7See, generally, Restatement(Second) of Torts 195-211.

8PruneYard Shopping Center v. Robins,447 U.S. 74 (1980). Members of the Court issued multiple separateopinions explaining their reasoning, but all of the justices agreedwith the result.

9 Theinternal quotation in PruneYard is from the Court'sprior opinion in Lloyd Corp. v. Tanner, 407 U.S. 551(1972), where the Court upheld the right of a shopping mall ownerto prohibit public expression on its premises.

10 Theinternal quotation in this excerpt from PruneYard is fromArmstrong v. United States, 364 U.S. 40(1960).

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10 mind-boggling things you should know about quantum physics

Posted: at 1:34 am

1. The quantum world is lumpy

The quantum world has a lot in common with shoes. You cant just go to a shop and pick out sneakers that are an exact match for your feet. Instead, youre forced to choose between pairs that come in predetermined sizes.

The subatomic world is similar. Albert Einstein won a Nobel Prize for proving that energy is quantized. Just as you can only buy shoes in multiples of half a size, so energy only comes in multiples of the same "quanta" hence the name quantum physics.

The quanta here is the Planck constant, named after Max Planck, the godfather of quantum physics. He was trying to solve a problem with our understanding of hot objects like the sun. Our best theories couldnt match the observations of the energy they kick out. By proposing that energy is quantized, he was able to bring theory neatly into line with experiment.

J. J. Thomson won the Nobel Prize in 1906 for his discovery that electrons are particles. Yet his son George won the Nobel Prize in 1937 for showing that electrons are waves. Who was right? The answer is both of them. This so-called wave-particle duality is a cornerstone of quantum physics. It applies to light as well as electrons. Sometimes it pays to think about light as an electromagnetic wave, but at other times its more useful to picture it in the form of particles called photons.

A telescope can focus light waves from distant stars, and also acts as a giant light bucket for collecting photons. It also means that light can exert pressure as photons slam into an object. This is something we already use to propel spacecraft with solar sails, and it may be possible to exploit it in order to maneuver a dangerous asteroid off a collision course with Earth, according to Rusty Schweickart, chairman of the B612 Foundation.

Wave-particle duality is an example of superposition. That is, a quantum object existing in multiple states at once. An electron, for example, is both here and there simultaneously. Its only once we do an experiment to find out where it is that it settles down into one or the other.

This makes quantum physics all about probabilities. We can only say which state an object is most likely to be in once we look. These odds are encapsulated into a mathematical entity called the wave function. Making an observation is said to collapse the wave function, destroying the superposition and forcing the object into just one of its many possible states.

This idea is behind the famous Schrdingers cat thought experiment. A cat in a sealed box has its fate linked to a quantum device. As the device exists in both states until a measurement is made, the cat is simultaneously alive and dead until we look.

The idea that observation collapses the wave function and forces a quantum choice is known as the Copenhagen interpretation of quantum physics. However, its not the only option on the table. Advocates of the many worlds interpretation argue that there is no choice involved at all. Instead, at the moment the measurement is made, reality fractures into two copies of itself: one in which we experience outcome A, and another where we see outcome B unfold. It gets around the thorny issue of needing an observer to make stuff happen does a dog count as an observer, or a robot?

Instead, as far as a quantum particle is concerned, theres just one very weird reality consisting of many tangled-up layers. As we zoom out towards the larger scales that we experience day to day, those layers untangle into the worlds of the many worlds theory. Physicists call this process decoherence.

Danish physicist Niels Bohr showed us that the orbits of electrons inside atoms are also quantized. They come in predetermined sizes called energy levels. When an electron drops from a higher energy level to a lower energy level, it spits out a photon with an energy equal to the size of the gap. Equally, an electron can absorb a particle of light and use its energy to leap up to a higher energy level.

Astronomers use this effect all the time. We know what stars are made of because when we break up their light into a rainbow-like spectrum, we see colors that are missing. Different chemical elements have different energy level spacings, so we can work out the constituents of the sun and other stars from the precise colors that are absent.

The sun makes its energy through a process called nuclear fusion. It involves two protons the positively charged particles in an atom sticking together. However, their identical charges make them repel each other, just like two north poles of a magnet. Physicists call this the Coulomb barrier, and its like a wall between the two protons.

Think of protons as particles and they just collide with the wall and move apart: No fusion, no sunlight. Yet think of them as waves, and its a different story. When the waves crest reaches the wall, the leading edge has already made it through. The waves height represents where the proton is most likely to be. So although it is unlikely to be where the leading edge is, it is there sometimes. Its as if the proton has burrowed through the barrier, and fusion occurs. Physicists call this effect "quantum tunneling".

Eventually fusion in the sun will stop and our star will die. Gravity will win and the sun will collapse, but not indefinitely. The smaller it gets, the more material is crammed together. Eventually a rule of quantum physics called the Pauli exclusion principle comes into play. This says that it is forbidden for certain kinds of particles such as electrons to exist in the same quantum state. As gravity tries to do just that, it encounters a resistance that astronomers call degeneracy pressure. The collapse stops, and a new Earth-sized object called a white dwarf forms.

Degeneracy pressure can only put up so much resistance, however. If a white dwarf grows and approaches a mass equal to 1.4 suns, it triggers a wave of fusion that blasts it to bits. Astronomers call this explosion a Type Ia supernova, and its bright enough to outshine an entire galaxy.

A quantum rule called the Heisenberg uncertainty principle says that its impossible to perfectly know two properties of a system simultaneously. The more accurately you know one, the less precisely you know the other. This applies to momentum and position, and separately to energy and time.

Its a bit like taking out a loan. You can borrow a lot of money for a short amount of time, or a little cash for longer. This leads us to virtual particles. If enough energy is borrowed from nature then a pair of particles can fleetingly pop into existence, before rapidly disappearing so as not to default on the loan.

Stephen Hawking imagined this process occurring at the boundary of a black hole, where one particle escapes (as Hawking radiation), but the other is swallowed. Over time the black hole slowly evaporates, as its not paying back the full amount it has borrowed.

Our best theory of the universes origin is the Big Bang. Yet it was modified in the 1980s to include another theory called inflation. In the first trillionth of a trillionth of a trillionth of a second, the cosmos ballooned from smaller than an atom to about the size of a grapefruit. Thats a whopping 10^78 times bigger. Inflating a red blood cell by the same amount would make it larger than the entire observable universe today.

As it was initially smaller than an atom, the infant universe would have been dominated by quantum fluctuations linked to the Heisenberg uncertainty principle. Inflation caused the universe to grow rapidly before these fluctuations had a chance to fade away. This concentrated energy into some areas rather than others something astronomers believe acted as seeds around which material could gather to form the clusters of galaxies we observe now.

As well as helping to prove that light is quantum, Einstein argued in favor of another effect that he dubbed spooky action at distance. Today we know that this quantum entanglement is real, but we still dont fully understand whats going on. Lets say that we bring two particles together in such a way that their quantum states are inexorably bound, or entangled. One is in state A, and the other in state B.

The Pauli exclusion principle says that they cant both be in the same state. If we change one, the other instantly changes to compensate. This happens even if we separate the two particles from each other on opposite sides of the universe. Its as if information about the change weve made has traveled between them faster than the speed of light, something Einstein said was impossible.

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The Supreme Court Further Expands the Definition of a Physical Taking of Property That Violates Fifth Amendment Protections – JD Supra

Posted: at 1:34 am

At the end of its recent term, the U.S. Supreme Court handed down a new decision on the law of takings. The case, Cedar Point Nursery v. Hassid, was a labor relations dispute disguised as a takings case, but its resolution has important implications for the terms on which New York developers can get access to adjoining property in aid of their construction projects. In Cedar Point Nursery, a divided Court ruled, by a 6-3 vote, that a state regulation authorizing very limited temporary entry by union organizers onto private agricultural property amounted to a physical taking of property that violated the Fifth and Fourteenth Amendments to the Constitution.[1] The decision expands the concept of what is a physical taking and raises questions about the further expansions of takings law that may follow.

The last clause of the Fifth Amendment to the U.S. Constitution, part of the Bill of Rights adopted in 1791, provides: nor shall private property be taken for public use, without just compensation. Although originally applicable only to the federal government, the Fourteenth Amendment, adopted after the Civil War, makes the principle equally applicable to the states and their political subdivisions.[2]

The most obvious example of a taking is when the government or a private party authorized by law to do so (such as a utility) exercises the power of eminent domain to acquire actual ownership of private property, or at least a permanent interest in property. In that situation, a public purpose and just compensation are required by the Constitution.[3] Other situations are not so obvious and have spawned a large body of court decisions addressing countless permutations.

Supreme Court precedent distinguishes between physical takings and regulatory takings. Physical takings are unconstitutional per se (i.e., automatically) in the absence of a public purpose and compensation. By contrast, an owners claim that it has been subjected to a regulatory taking in effect, a claim that although there has been no physical invasion of its property, a law, regulation or other governmental action has intruded so far into its property rights as to amount to a taking must be analyzed and evaluated on a fact-specific, case-by-case basis.

What rises to the level of a physical taking, however, isnt always clear either, and the concept has expanded over the years. In 1946, the Supreme Court held that repeated low-altitude overflights by military aircraft approaching and leaving a nearby airport, the effect of which was to destroy the owners ability to operate their chicken farm, constituted a taking.[4] In 1979, the Court held that the governments claim of a navigational servitude over private property, the effect of which was to allow the public to access the property on a continuous basis, effectuated a taking.[5] And in 1982, the Court held that even a de minimis permanent physical occupation of property is a taking; more specifically, the Court struck down as unconstitutional a New York statute requiring owners of apartment buildings to allow cable TV companies to attach their cables to the owners buildings.[6] Which brings us to the Cedar Point Nursery case.

A regulation under Californias Agricultural Labor Relations Act gave labor organizations a limited right of access to private agricultural property. Access was allowed in no more than four 30-day periods in any one calendar year, and only during three hours during any one day one hour before work, one hour during the lunch break and one hour after work. Access was limited to two organizers per work crew, plus one additional organizer for every 15 workers over 30 workers in a crew. The property owner was entitled to prior notice. Disruptive conduct was prohibited, but the union organizers were otherwise free to meet with employees to discuss labor or union issues.

Cedar Point Nursery is a large California strawberry grower. It claims that, one morning in 2015, United Farm Workers organizers entered its property and disturbed its operations, causing some workers to join a protest and others to leave the worksite. Along with a second grower, it sued in federal court, arguing that Californias regulation effected an unconstitutional physical taking of its property. The trial court dismissed the lawsuit, and a divided U.S. Court of Appeals for the Ninth Circuit affirmed that decision. The Supreme Court agreed to hear the case.

The Court reversed the Ninth Circuits decision and ruled in favor of the nursery. Perhaps not surprisingly, given the cases origin in a dispute about union activity, the Court split along partisan lines, with the six Republican-appointed justices forming the majority and the three Democrat-appointed justices dissenting.

Chief Justice John Roberts wrote for the majority that the access regulation appropriates a right to invade the growers property and therefore constitutes a per se physical taking. The opinion emphasized that the short duration of time during which the regulation allowed entry onto property was irrelevant, and the length of the appropriation bears only on the amount of compensation. The opinion affirmed that physical invasions are takings even if they are intermittent instead of permanent, citing United States v. Causby, the 1946 decision in which the Court held that occasional low-altitude military overflights had effected a taking (although in Causby the overflights had destroyed the owners business).

To reconcile this absolutist definition of a taking with commonly recognized circumstances in which limited entry onto private property has long been allowed, the majority opinion articulated a series of exceptions to this per se rule. First, isolated physical invasions, not undertaken pursuant to a granted right of access, are properly assessed as individual torts rather than appropriations of a property right. Second, access that is consistent with longstanding background restrictions on property rights, including traditional common law privileges to access private property, is another exception. And third, the government may require property owners to cede a right of access as a condition of receiving certain benefits, without causing a taking.

The dissenting opinion was written by Justice Stephen Breyer. It argued that the California regulation did not effect a per se taking because it did not appropriate anything, but only regulated employers right to exclude others from their property.

The Cedar Point Nursery majority and dissenters disagreed about how to distinguish between the appropriation of property and regulation of the right to exclude. Because the Court held that the California regulation allowing limited access by union organizers to agricultural properties was in fact an appropriation, the decision raises questions about how much further the Court might go and how far property rights advocates will push the Supreme Court and lower courts in expanding the concept of a taking.

To begin with, any law or regulation requiring that union representatives be given access to a workplace or job site is now to say the least constitutionally suspect.

In future cases, moreover, courts are likely to be asked to clarify the exception to the per se rule that Cedar Point Nursery recognized for access that is consistent with longstanding background restrictions on property rights. The opinion provided no further definition of this exception beyond a reference to traditional common law privileges. Prior case law from around the country has recognized multiple situations in which entry onto anothers land without the owners permission is allowable, including, for example, to bypass an impassible section of a public road, to retrieve personal property, to abate a private or public nuisance, to stop a crime or to make a lawful arrest.[7] Are all of these examples still good law after Cedar Point Nursery?

Even if these cases remain good law, is only court-made law still valid? One possible implication of the absolutist interpretation of a taking in Cedar Point Nursery is that, while court-made exceptions to the per se rule remain valid, state and local governments are powerless to enact statutes that recognize limited rights of entry in defined circumstances.

In 1980, for example, a unanimous Supreme Court agreed that Californias Supreme Court could properly interpret its state constitution as protecting the right of peaceful protestors to set up a card table in a shopping malls central courtyard, distribute pamphlets and collect signatures over the objection of the malls owner, which maintained a blanket policy against expressive activity on its premises.[8] In reaching this result, the Courts opinion, written by Justice (later Chief Justice) William Rehnquist, explained that, while property does not lose its private character merely because the public is generally invited to use it for designated purposes, that principle does not limit the authority of the State to exercise its police power or its sovereign right to adopt in its own Constitution individual liberties more expansive than those conferred by the Federal Constitution.[9] In response to the mall owners contention that a right to exclude others underlies the Fifth Amendment guarantee against the taking of property without just compensation, the Supreme Courts opinion explained that it is well established that not every destruction or injury to property by governmental action has been held to be a taking in the constitutional sense, and the determination whether a state law unlawfully infringes a landowners property in violation of the Takings Clause requires an examination of multiple factors.[10]

The only way to reconcile this case-by-case approach with the per se rule of Cedar Point Nursery is to rely on the fact that the shopping mall was open to the public, although not for the purpose that the visitors in that case sought to use it, while in Cedar Point Nursery the owners did not open their land to the general public. But the Court specifically said in the shopping mall case (and in prior cases) that private property does not lose its private character even if it is open to the general public a point that is inconsistent with a distinction based on private propertys status as open to the general public.

Closer to home, New York has a statute, Section 881 of the Real Property Actions and Proceedings Law, that empowers courts to grant licenses allowing property owners to gain temporary access to neighboring property for the purpose of effectuating repairs or improvements to their own property upon such terms as justice requires. The statute often has been used by developers and their contractors to compel recalcitrant neighbors to allow them to enter onto adjoining property to perform surveys and install protective measures. The statute does not require compensation, although it is not unusual for courts, in the exercise of their discretion, to require the payment of a fee if the entry is for more than a de minimis length of time for example, if the purpose of the entry is to install and maintain temporary protective scaffolding. Is this statute unconstitutional due to its failure to expressly require the payment of just compensation in accordance with the Fifth Amendment? Or perhaps due to its creation of a right of access in the service of a private purpose rather than a public one? It seems inevitable that these issues and others of a similar nature will be litigated in a future case. The risk of the issue being raised should motivate developers to avoid litigation if possible and to be prepared, if necessary, to augment the usual protections provided in access agreements (such as indemnification and insurance) with some amount of compensation for the temporary intrusion onto a neighbors property.

[1] Cedar Point Nursery v. Hassid, 594 U.S. ___ (No. 20-107, June 23, 2021).

[2] Chicago, Burlington & Quincy Railroad Co. v. City of Chicago, 166 U.S. 226 (1897).

[3] Id.

[4] United States v. Causby, 328 U.S. 256 (1946).

[5] Kaiser Aetna v. United States, 444 U.S. 164 (1979).

[6] Loretto v. Teleprompter Manhattan CATV Corp., 458 U.S. 419 (1982).

[7] See, generally, Restatement (Second) of Torts 195-211.

[8] PruneYard Shopping Center v. Robins, 447 U.S. 74 (1980). Members of the Court issued multiple separate opinions explaining their reasoning, but all of the justices agreed with the result.

[9] The internal quotation in PruneYard is from the Courts prior opinion in Lloyd Corp. v. Tanner, 407 U.S. 551 (1972), where the Court upheld the right of a shopping mall owner to prohibit public expression on its premises.

[10] The internal quotation in this excerpt from PruneYard is from Armstrong v. United States, 364 U.S. 40 (1960).

The author gratefully acknowledges the valuable contributions to this alert of Aaron Jacobs, a member of the Columbia Law School Class of 2022 and a 2021 Kramer Levin summer associate.

[View source.]

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The Supreme Court Further Expands the Definition of a Physical Taking of Property That Violates Fifth Amendment Protections - JD Supra

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Rochester researchers join national initiative to advance quantum science – University of Rochester

Posted: at 1:34 am

July 30, 2021

Todd Krauss, chair of the Department of Chemistry at the University of Rochester, and his fellow researchers are joining a $73 million initiative, funded by the US Department of Energy, to advance quantum science and technology. Krausss project, Understanding coherence in lightmatter interfaces for quantum science, is one of 29 projects intended to help scientists better understand and to harness the quantum world in order to eventually benefit people and society.

Its exciting to see the University recognized for its work in the emerging field of quantum information science, says Krauss.

The University has a long history in quantum science, dating back to physicist Leonard Mandelconsidered a pioneer in quantum opticsin the 1960s. And Krauss says he and his colleagues are now building on the work of Mandel and other giants at Rochester, as well as leveraging the talents of the Universitys current crop of quantum researchers.

Quantum science represents the next technological revolution and frontier in the Information Age, and America stands at the forefront, said Secretary of Energy Jennifer M. Granholm as part of the DOEs announcement of the funding. At DOE, were investing in the fundamental research, led by universities and our National Labs, that will enhance our resiliency in the face of growing cyber threats and climate disasters, paving the path to a cleaner, more secure future.

One of the principle challenges in this line of research, explains Krauss, is that quantum states of matter are typically stable only at temperatures below 10 degrees Kelvin; thats roughly 441 degrees Fahrenheit. By comparison, the coldest recorded temperature on Earth was 128.6 at Russias Vostok station in Antarctica in 1983. If stability can be achieved at room temperature, then the benefits of quantum applications can be realized on a broader scale.

More robust quantum states could yield exponentially faster computers, extremely responsive chemical or biological sensors, as well as more secure communication systems, an area that Krausss project is focused on. In quantum state communications, it will be possible to know when someone else is monitoring your messaging, says Krauss.

Krauss is being awarded $1.95 million over three years for his project on light-matter interfaces. Basically, says Krauss, were sticking colloidal nanoparticles into optical cavities in order to interact the nanoparticles with the quantum-light of the cavity. The work will be divided among four researchers:

We are excited to be taking the field of quantum optics in completely new and uncharted directions with our studies of the quantum optics of nanoparticles, says Krauss.

Tags: Arts and Sciences, Department of Chemistry, Hajim School of Engineering and Applied Sciences, Institute of Optics, Nick Vamivakas, Pengfei Huo, quantum optics, quantum physics, research funding, Todd Krauss

Category: Science & Technology

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Judge expected to rule Wednesday whether to charge Mensah in on-duty shooting – WISN Milwaukee

Posted: at 1:34 am

Judge expected to rule Wednesday whether to charge Mensah in on-duty shooting

Former Wauwatosa police Officer Joseph Mensah shot, killed Jay Anderson in 2016

Updated: 8:48 AM CDT Jul 28, 2021

A judge is expected to rule Wednesday on whether to charge former Wauwatosa police Officer Joseph Mensah in one of his three on-duty shooting deaths. Dash camera video from 2016 shows Mensah shooting and killing Jay Anderson, who was asleep in his car in Madison Park.Milwaukee County's district attorney decided not to charge Mensah, but Anderson's family asked a judge to independently file criminal charges against Mensah.Mensah invoked his Fifth Amendment right and did not testify during the hearing in May.Wauwatosa's now-retired police chief did testify in the ongoing case. Mensah now works as a Waukesha County sheriff's deputy.He also shot and killed Antonio Gonzalez and Alvin Cole while on duty.

A judge is expected to rule Wednesday on whether to charge former Wauwatosa police Officer Joseph Mensah in one of his three on-duty shooting deaths.

Dash camera video from 2016 shows Mensah shooting and killing Jay Anderson, who was asleep in his car in Madison Park.

Milwaukee County's district attorney decided not to charge Mensah, but Anderson's family asked a judge to independently file criminal charges against Mensah.

Mensah invoked his Fifth Amendment right and did not testify during the hearing in May.

Wauwatosa's now-retired police chief did testify in the ongoing case.

Mensah now works as a Waukesha County sheriff's deputy.

He also shot and killed Antonio Gonzalez and Alvin Cole while on duty.

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News Scientists create the world’s thinnest magnet – University of California

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The development of an ultrathin magnet that operates at room temperature could lead to new applications in computing and electronics such as high-density, compact spintronic memory devices and new tools for the study of quantum physics.

The ultrathinmagnet,which was recentlyreported in the journal Nature Communications, could make big advances in next-gen memory devices, computing, spintronicsand quantum physics. It was discovered by scientists at the Department of Energys Lawrence Berkeley National Laboratory (Berkeley Lab) and UC Berkeley.

Were the first to make a room-temperature 2D magnet that is chemically stable under ambient conditions, said senior authorJie Yao, afaculty scientist in Berkeley Labs Materials Sciences Division and associate professor ofmaterials science and engineering at UC Berkeley.

This discovery is exciting because it not only makes 2D magnetism possible at room temperature, but it also uncovers a new mechanism to realize 2Dmagneticmaterials, added Rui Chen, a UC Berkeley graduate student in theYao Research Groupand lead author on the study.

The magnetic component of todays memory devices is typically made of magnetic thin films. But at the atomic level, these materials are still three-dimensional hundreds or thousands of atoms thick. For decades, researchers have searched for ways to make thinner and smaller 2D magnets and thus enable data to be stored at a much higher density.

Previous achievements in the field of 2D magnetic materials have brought promising results. But these early 2D magnets lose their magnetism and become chemically unstable at room temperature.

State-of-the-art 2D magnets need very low temperatures to function. But for practical reasons, a data center needs to run at room temperature, Yao said. Our 2D magnet is not only the first that operates at room temperature or higher, but it is also the first magnet to reach the true 2D limit: Its as thin as a single atom!

The researchers say that their discovery will also enable new opportunities to study quantum physics. It opens up every single atom for examination, which may reveal how quantum physics governs each single magnetic atom and the interactions between them, Yao said.

The researchers synthesized the new 2D magnet called a cobalt-doped van der Waals zinc-oxide magnet from a solution of graphene oxide, zinc, and cobalt.

Just a few hours of baking in a conventional lab oven transformed the mixture into a single atomic layer of zinc-oxide with a smattering of cobalt atoms sandwiched between layers of graphene.

In a final step, the graphene is burned away, leaving behind just a single atomic layer of cobalt-doped zinc-oxide.

With our material, there are no major obstacles for industry to adopt our solution-based method, said Yao. Its potentially scalable for mass production at lower costs.

To confirm that the resulting 2D film is just one atom thick, Yao and his team conducted scanning electron microscopy experiments at Berkeley LabsMolecular Foundryto identify the materials morphology, and transmission electron microscopy (TEM) imaging to probe the material atom by atom.

X-ray experiments at Berkeley LabsAdvanced Light Sourcecharacterized the 2D materials magnetic parameters under high temperature.

Additional X-ray experiments at SLAC National Accelerator Laboratorys Stanford Synchrotron Radiation Lightsource verified the electronic and crystal structures of the synthesized 2D magnets. And at Argonne National Laboratorys Center for Nanoscale Materials, the researchers employed TEM to image the 2D materials crystal structure and chemical composition.

The researchers found that the graphene-zinc-oxide system becomes weakly magnetic with a 5-6 percentconcentration of cobalt atoms. Increasing the concentration of cobalt atoms to about 12 percentresults in a very strong magnet.

To their surprise, a concentration of cobalt atoms exceeding 15 percentshifts the 2D magnet into an exotic quantum state of frustration, whereby different magnetic states within the 2D system are in competition with each other.

And unlike previous 2D magnets, which lose their magnetism at room temperature or above, the researchers found that the new 2D magnet not only works at room temperature but also at 100 degrees Celsius (212 degrees Fahrenheit).

Our 2D magnetic system shows a distinct mechanism compared to previous 2D magnets, said Chen. And we think this unique mechanism is due to the free electrons in zinc oxide.

When you command your computer to save a file, that information is stored as a series of ones and zeroes in the computers magnetic memory, such as the magnetic hard drive or a flash memory.

And like all magnets, magnetic memory devices contain microscopic magnets with two poles north and south, the orientations of which follow the direction of an external magnetic field. Data is written or encoded when these tiny magnets are flipped to the desired directions.

According to Chen, zinc oxides free electrons could act as an intermediary that ensures the magnetic cobalt atoms in the new 2D device continue pointing in the same direction and thus stay magnetic even when the host, in this case the semiconductor zinc oxide, is a nonmagnetic material.

Free electrons are constituents of electric currents. They move in the same direction to conduct electricity, Yao added, comparing the movement of free electrons in metals and semiconductors to the flow of water molecules in a stream of water.

The new material which can be bent into almost any shape without breaking, and is a million times thinner than a sheet of paper could help advance the application of spin electronics or spintronics, a new technology that uses the orientation of an electrons spin rather than its charge to encode data. Our 2D magnet may enable the formation of ultra-compact spintronic devices to engineer the spins of the electrons, Chen said.

I believe that the discovery of this new, robust, truly two-dimensional magnet at room temperature is a genuine breakthrough, said co-author Robert Birgeneau, a faculty senior scientist in Berkeley Labs Materials Sciences Division and professor of physics at UC Berkeley who co-led the study.

Our results are even better than what we expected, which is really exciting. Most of the time in science, experiments can be very challenging, Yao said. But when you finally realize something new, its always very fulfilling.

Co-authors on the paper include researchers from Berkeley Lab, including Alpha NDiaye and Padraic Shafer of the Advanced Light Source; UC Berkeley; UC Riverside; Argonne National Laboratory; and Nanjing University and the University of Electronic Science and Technology of China.

The Advanced Light Source and Molecular Foundry are DOE national user facilities at Berkeley Lab.

The Stanford Synchrotron Radiation Lightsource is a DOE national user facility at SLAC National Accelerator Laboratory.

The Center for Nanoscale Materials is a DOE national user facility at Argonne National Laboratory.

This work was funded by the DOE Office of Science, the Intel Corporation, and the Bakar Fellows Program at UC Berkeley.

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Vaccine opponents appear increasingly confused about HIPAA – MSNBC

Posted: at 1:34 am

At an unnerving press conference last week, a reporter asked Rep. Marjorie Taylor Greene (R-Ga.) whether she's has been vaccinated against the coronavirus. The right-wing congresswoman replied, "You see, with HIPAA rights, we don't have to reveal our medical records, and that also involves our vaccine records."

The Republican's tone suggested she saw herself as an expert in matters related to the Health Insurance Portability and Accountability Act (HIPAA), and she was eager to lecture the reporter about the subject.

The problem, of course, was that Greene had no idea what she was talking about.

A week earlier, North Carolina Lt. Gov. Mark Robinson (R) said door-to-door vaccination information outreach might be "illegal" under HIPAA. That didn't make sense, either.

Alas, the Republicans aren't alone. Dallas Cowboys quarterback Dak Prescott spoke at a press conference of his own last week and was also asked about whether he's received a COVID-19 vaccine. "I don't necessarily think that's exactly important," the athlete said, adding, "I think that's HIPAA."

No, it's really not.

In case this isn't obvious, let's take a moment to shine a light on reality. HIPAA, which has been federal law for the last 25 years, relates to health privacy, but as the New York Times explained late last week:

The law applies only to companies and professionals in the health care field, although some people may incorrectly imply otherwise, as Ms. Greene did in suggesting that the measure offered Fifth Amendment-like protection against revealing personal health information.... [N]othing in the law prohibits asking about someone's health, be it vaccination status or proof that such information is accurate.

If someone called your personal physician asking for details from your medical records, HIPAA would prevent him or her from sharing that information without your approval.

But the law does not create a blanket prohibition on someone being asked about their health. In the case of Marjorie Taylor Greene, HIPAA doesn't create a "right" that makes a reporter's question improper.

Journalists can ask people about whether they've been vaccinated. So can employers. So can store owners make inquiries of customers.

Those who insist that HIPAA shields them from questions they're embarrassed to answer are mistaken.

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