Happy Hour News
(Reuters) – The Securities and Exchange Commission’s in-house judges violate the U.S. Constitution by denying fraud defendants their right to a jury trial and acting without necessary guidance from Congress, the 5th U.S. Circuit Court of Appeals ruled on Wednesday…
The majority also found that SEC judges, known as administrative law judges, lack authority under the Constitution because Congress did not provide guidance on when the SEC should bring cases in-house instead of in a court.
Basically, if this ruling stays, then all regulating agencies are gutted of their ability to regulate: every instance will become subject to litigation, and the deeper the pockets the more likely they will win just by running out the clock.
And there’s no way that the SCOTUS is going to defend the Administrative state, so it is up to the Democrats to fix this, and you know it will never make it through the Republican-filibustered Senate.
Elect more Democrats. It’s our only hope.