I did a fat lot of nothing today. The sun was shining bright, so I took the day off, as is my right under the
Most states have blue sky laws that regulate the sale of securities to protect the public from fraud. The term comes from the earliest efforts to pass such a law, in
The name that is given to the law indicates the evil at which it is aimed, that is, to use the language of a cited case, "speculative schemes which have no more basis than so many feet of 'blue sky'"; or, as stated by counsel in another case, "to stop the sale of stock in fly-by-night concerns, visionary oil wells, distant gold mines and other like fraudulent exploitations."
As you can see from the likes of Bernie Madoff and others, these laws have loopholes big enough to let a python slither through unscathed.
Exceptions are made for those who work in public safety and emergency services, those who work outdoors anyway, and political pundits and bloggers, who could become severely disoriented if they ever saw the light of day.
Tomorrow is supposed to be another sunny, beautiful day (followed by more rain the next few days), so make sure you take off work for at least awhile and get outside. Don’t worry, the law is on your side. You could look it up.