But the Irish bailout showed that solvency can be a question of judgment rather than precise rules, while the concept of eligible collateral is similarly elastic.
For over a hundred years Congress has made a judgment that corporations must be subject to special rules when they participate in elections, and this Court has never questioned that judgment.
Platini explained that an independent panel would be created to pass judgment on whether clubs had broken the rules.
Woods was "very forthright" and "honest, " Ridley said, and it was his best judgment that Woods intended to comply with the rules.
If France and Germany continue to get away with breaking the rules, even after the court judgment, it will only aggravate Dutch distemper.
Based on the comments to our story " Meet the Rules of the Internet, " the judgment is decidedly mixed.
But some of the rules leave room for IRS officials to make judgment calls and probe individual groups for further information.
New rules and agencies also can't eradicate the fallibility of human judgment.
While this inevitably introduces an element of human judgment to the investment process, Dalio insists it is still driven by the rules-based framework he has built up over thirty years.
The problem with relying on inflexible rules, of course, is that they prevent you from exercising individual judgment.
Congress enacted statutory Prompt Corrective Action rules that discriminate against smaller banks and make it difficult for regulators to use judgment during times of severe financial distress.
The government replies that the Clean Air Act requires deference to the EPA administrator's judgment on these matters, and that the current administrator has concluded it would be inadvisable to enact rules and regulations at this time.
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