Corporations are people? Since they are, take a look at the following list of problems our country now faces, and how the judicial branch of government in the new ultimate governing body. Goodbye legislative branch. Pandora’s Box has been opened….
NY Times: Lawyers branded one meeting, held by theUnited States Chamber of Commerce, as “Dodd-Frank Excesses” … The legal challenges are rooted in a 1996 law that requires the S.E.C. to promote “efficiency, competition and capital formation.” The law enabled the financial industry to build lawsuits around the economic costs of a rule, regardless of its merits.
And you’ll love this…
Altogether, the appeals court has tossed out three financial regulations in the last six years, including the proxy rule. Mr. Eugene Scalia, a partner at the law firm Gibson Dunn and the son of Supreme Court Justice Antonin Scalia, was on the winning end of each case.
Here's the start of our slide into feudalism:
A federal appeals court decision in July striking down an S.E.C. rule that would have made it easier for shareholders to nominate company directors.
Financial trade groups are now considering suits against the S.E.C.’s corporate whistle-blower office … argues that the whistle-blower program allows tipsters to undermine internal compliance departments.
One S.E.C. regulation requires companies to disclose whether they manufacture goods using so-called conflict minerals like gold from Congo. Tiffany & Company argued that the proposed rules “would violate the First Amendment,” laying the groundwork for business groups to mount a constitutional challenge.
Royal Dutch Shell wrote the S.E.C. this month about “our expected costs” stemming from a proposal about oil extraction … it said, “in light of the recent decision by the U.S. Court of Appeals.”
In March, the Futures Industry Association urged the commission to scrap its plan for reining in speculative commodities trading, saying it “may be legally infirm.”