Third Circuit Vacates Janet Jackson Boobies Fine
This just in, from the AP:
A federal appeals court on Monday threw out a $550,000 indecency fine against CBS Corp. for the 2004 Super Bowl halftime show that ended with Janet Jackson’s breast-baring “wardrobe malfunction.”The three-judge panel of the 3rd U.S. Circuit Court of Appeals ruled (PDF) that the Federal Communications Commission “acted arbitrarily and capriciously” in issuing the fine for the fleeting image of nudity.
Quips our tipster: “Arbitrary and capricious? Were they talking about the fine, or Janet’s boobs?”
Court tosses ‘wardrobe malfunction’ fine [AP]
CBS Corp. v. FCC (PDF) [U.S. Court of Appeals for the Third Circuit]
Earlier: Love Will Never Do Without Boobs
Pick Your Poison: Janet Jackson’s Exposed Breast, or a Horny Manatee
(16) 
Comments
Comments hidden for your protection. Show them anyway!
*cough*
They were talking about the fine.
Floppy.
"I call the left one 'arbitrary', and the right one 'capricious'."
For some reason, I can't stop thinking about adjustable-rate mortgages this morning.
Janet Jackson is the most normal of all the Jacksons. Discuss. And weep.
rediculous ruling
Why would anyone take out an adjustable-rate mortgage in the first place? Did they really think that the bank wanted them to achieve their dream of home ownership? Didn’t they notice that it was predicated on “introductory” rates?
what a glorious precedent to set
Can we get Kash to pose like the Rolling Stone cover?
ridiculous spelling
schloppy & floppy
I second post #9.
Adjustable rate mortgages are not necessarily teaser or introductory rate mortgages. A lot of people, especially in the media, don't seem to understand this. A teaser rate is one that is unusually low in the beginning but you know is going to go up dramatically at some fixed point in the future. A basic ARM simply fluctuates with whatever market rate it is tied to. The reason you would get one is that they are typically half a point lower than fixed rate mortgages, and no one really knows which way rates are going to move in the future. If you can afford to take on rate fluctuations, it would be stupid to pay extra for a fixed rate. Not to mention that even ARMS are typically fixed for a certain period of time before they can fluctuate 1, 3, 5 years etc. The people who were really stupid were the ones who singed up for teaser rates because it was the only way they could afford the payments even at the beginning, and had no hope of being able to afford the mortgage once the teaser period expired. They were teased.
I have a 7-year ARM on my place b/c:
(1) I knew I would only own it for 3-5 years; and
(2) the rate was 7/8 % lower than the 30 year mortgages (got one at a great time).
Wait, isn't this about Janet Jackson? Oh yeah, her boob was about 7/8 more floppy than most when I saw it.
13: Is the market rate tied to an index? Which one? Is there any good literature on mortgages that you advise reading?
14: yes, that's a valid reason. I know plenty of people who took ARMs for a few years.
15: Yes, it is usually tied to an index or to the prime rate published in the WSJ.