5th Circuit Court Finds SEC Enforcement Unconstitutional [pdf]

Post by peyton » Thu, May 19, 2022, 3:45 AM UTC

vkou wrote: post #74

xyzzyz wrote: post #59

Earlier quoted context omitted.

> On a basic level this seems to make sense but the practical application of this would mean that legislators would need to explicitly pass legislation anytime a regulatory body needs to address a specific issue or regulate some behavior Yeah, can you imagine the horror of making the congressmen actually do their job and pass the laws, instead of delegating all their authority to unelected, nameless, and effectively…

> Yeah, can you imagine the horror of making the congressmen actually do their job and pass the laws, instead of delegating all their authority to unelected, nameless, and effectively unaccountable bureaucrats 1. Those bureaucrats are appointed by the President, whom you vote for, and by Congress, whom you vote for, and may be fired by the former. If you don't like what the executive branch of the government looks li…

Post by vkou » Thu, May 19, 2022, 4:25 AM UTC

peyton wrote: post #131

vkou wrote: post #74

Earlier quoted context omitted.

> Yeah, can you imagine the horror of making the congressmen actually do their job and pass the laws, instead of delegating all their authority to unelected, nameless, and effectively unaccountable bureaucrats 1. Those bureaucrats are appointed by the President, whom you vote for, and by Congress, whom you vote for, and may be fired by the former. If you don't like what the executive branch of the government looks li…

The President cannot fire arbitrary federal employees.

Post by salawat » Thu, May 19, 2022, 4:45 AM UTC

chrsig wrote: post #68

vmception wrote: post #40

> In keeping with Founding conceptions of separation of powers, the Supreme Court has made clear that Congress cannot “delegate to the Courts, or to any other tribunals, powers which are strictly and exclusively legislative.” I love this. I hope this trend catches on, I can't wait to gut these bloated agencies and force Congress to get back to work at the risk of a completely paralyzed society if they don't. Any supr…

> I love this. I hope this trend catches on, I can't wait to gut these bloated agencies and force Congress to get back to work at the risk of a completely paralyzed society if they don't. You seem to be making the bold assumption that both parties are acting in good faith. A completely paralyzed society is actually a victory for one party.

Post by colechristensen » Thu, May 19, 2022, 5:08 AM UTC

jonahbenton wrote: post #30

rayiner wrote: post #17

The gist of the decision is that the SEC’s imposition of civil penalties and disgorgement violated defendants’ seventh amendment right to a jury trial. Under the seventh amendment, you have a right to a jury trial for any claim that would have been an action at law in the courts of England at the time of the founding, prior to the merger of law and equity.[1] There is an additional principle that so called “public ri…

Very helpful. Seems like it could be a huge deal. Am curious what the impact from a caseload perspective would be? How many actions are handled on an administrative basis vs how much capacity the relevant court systems have? And impact on duration- administrative actions typically handled in x time, courts take y time. Would love pointers if anyone has them.

Post by HideousKojima » Thu, May 19, 2022, 5:34 AM UTC

civilized wrote: post #36

rayiner wrote: post #17

The gist of the decision is that the SEC’s imposition of civil penalties and disgorgement violated defendants’ seventh amendment right to a jury trial. Under the seventh amendment, you have a right to a jury trial for any claim that would have been an action at law in the courts of England at the time of the founding, prior to the merger of law and equity.[1] There is an additional principle that so called “public ri…

Finally, a reason for conservative FDR-hate that I can understand. Seriously, this is not a sarcastic or troll post. I have always been confused about this.