The competition is fierce for the worst law in America, but our pick goes to New York State’s notorious Martin Act. Now an effort is building in Congress that could curb its worst excesses and help the innocent. Passed in 1921 to stop “boiler-room” stock-sale operations, the Martin Act lets prosecutors call almost anything fraud, and there’s no requirement to prove evil intent in civil cases. Yet proving scienter, or the intent or knowledge of wrongdoing, has been a staple requirement of British and American law for centuries...

Source: Wall Street Journal March 25, 2018 21:45 UTC