5th Circuit Court Finds SEC Enforcement Unconstitutional [pdf]

Post by jonhohle » Thu, May 19, 2022, 1:44 AM UTC

munificent wrote: post #78

vmception wrote: post #56

Earlier quoted context omitted.

Every creature from the New Deal is probably unconstitutional. Additional context on that threat of court packing is that the Supreme Court was already invalidating and gutting the New Deal! Its such an important story to me because my grade school history books all upheld the New Deal as this monumental and amazing thing. From what I can tell, 75% of it (or 75% of the programs it created) was declared unconstitution…

I think implicit in your comment is that the New Deal must not actually be amazing because it turns out that it's likely unconstitutional but... how does that logically follow? It's not like the Constitution was handed down from the heavens as a flawless document. It may be that the New Deal does contain many unconstitutional provisions, but also that that same legislature was in fact a net benefit for Americans.

Post by usrn » Thu, May 19, 2022, 1:46 AM UTC

snowwrestler wrote: post #46

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…

It will be very interesting to see what happens if SCOTUS tries to roll back the administrative state, because this is how Congress wants things to work. They passed all those laws to create the agencies, after all. And the expanding administrative state is what has allowed members of Congress to do less and less actual work, and more and more performance art and fundraising. They barely even have to pass budgets any…

Post by zozbot234 » Thu, May 19, 2022, 1:47 AM UTC

ihumanable wrote: post #82

snowwrestler wrote: post #46

Earlier quoted context omitted.

It will be very interesting to see what happens if SCOTUS tries to roll back the administrative state, because this is how Congress wants things to work. They passed all those laws to create the agencies, after all. And the expanding administrative state is what has allowed members of Congress to do less and less actual work, and more and more performance art and fundraising. They barely even have to pass budgets any…

I don't see how this doesn't end with the government basically failing. The modern world is dizzyingly complex, if Congress can't delegate to dedicated agencies how does this all work. Are there 435 people in this nation well versed enough to write detailed regulations on nitty gritty details about Securities on Monday, regulations on Agriculture on Tuesday, rules for calculating acceptable emissions for Coal Fired P…

Post by naravara » Thu, May 19, 2022, 1:51 AM UTC

zozbot234 wrote: post #92

munificent wrote: post #78

Earlier quoted context omitted.

I think implicit in your comment is that the New Deal must not actually be amazing because it turns out that it's likely unconstitutional but... how does that logically follow? It's not like the Constitution was handed down from the heavens as a flawless document. It may be that the New Deal does contain many unconstitutional provisions, but also that that same legislature was in fact a net benefit for Americans.

If you look at the data, industrial production starts bouncing back when the worst provisions of the New Deal get struck down by the courts. It was very much self-defeating, the only part that helped was devaluing the dollar wrt. the main foreign currencies.

Post by Animats » Thu, May 19, 2022, 1:52 AM UTC