Strange market moves on Friday make me a little nervous. I’m not sure what this one was about. (More…)
Subprime Court
Chevron Deference Overturned by SCOTUS [June 29] (source – rmalonemd); “The court basically determined that, just because Congress fails to do its job, it is not acceptable for executive branch administrative agencies to step in and substitute their opinions in the absence of clearly stated Congressional intent.”
Supreme Court makes it harder to charge Capitol riot defendants with obstruction, charge Trump faces [June 27] (source – apnews); “The justices ruled 6-3 that the charge of obstructing an official proceeding, enacted in 2002 in response to the financial scandal that brought down Enron Corp., must include proof that defendants tried to tamper with or destroy documents.” [bold added]
The Supreme Court strips the SEC of a critical enforcement tool in fraud cases [June 28] (source – apnews); “The justices ruled in a 6-3 vote that people accused of fraud by the SEC, which regulates securities markets, have the right to a jury trial in federal court. The in-house proceedings the SEC has used in some civil fraud complaints, including against Houston hedge fund manager George Jarkesy, violate the Constitution, the court said.” [bold added]
A Shameful Day in American History [June 26] (source – mikefromjersey); “The Supreme Court on Wednesday tossed a case claiming that the Biden administration unlawfully coerced social media companies into removing content and banning users based on political views.”
My summary: bureaucrats lost power, but in exchange, the (Zients) stealth-censorship scam can continue because – “no standing.”
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