Court rules SEC’s internal judges are unconstitutional

[Buzz_Light_Year]

https://thehill.com/regulation/court-battles/3493467-court-rules-secs-internal-judges-are-unconstitutional/

I wonder how much impact this may have on other 3 letter agencies.

Quote

 

Judge Jennifer Walker Elrod wrote in the majority opinion that the SEC violated the Seventh Amendment’s right to a jury trial by bringing defendants before in-house judges and allowing the agency to “act as both prosecutor and judge.”

Congress also unconstitutionally delegated power to the SEC to act as a legislative body, Elrod wrote.

“‘We the People’ are the fountainhead of all government power. Through the Constitution, the people delegated some of that power to the federal government so that it would protect rights and promote the common good,” Elrod said. “But that accountability evaporates if a person or entity other than Congress exercises legislative power.”

In a dissenting opinion, Judge Eugene Davis disagreed, saying the right to a jury trial did not pertain to administrative proceedings and that the SEC was enforcing laws and statutes in the public interest.

 

 

[+OverSword]

Not completely off topic, here is a paragraph from the link that too many Americans don't seem to know these days.

Quote

We the People’ are the fountainhead of all government power. Through the Constitution, the people delegated some of that power to the federal government so that it would protect rights and promote the common good,” Elrod said. “But that accountability evaporates if a person or entity other than Congress exercises legislative power

 

[preacherman76]

11 hours ago, OverSword said:

Not completely off topic, here is a paragraph from the link that too many Americans don't seem to know these days.

 

If only they all always felt that way. 
 

Also to add, even if this isn’t about companies getting a trial by jury ( which sometimes the SEC chooses to do) it is about getting a fair and impartial judge. 
 

The current SEC vs ripple case the SEC is pulling every dirty trick in the book to delay so their JP Morgan buddies can give Ethereum as much time as possible to catch up with the technology. While the judge has granted many of their requests for more time, they have also denied many motions. If it was a SEC judge that case would never end. Or worse they would just rule in favor of the SEC regardless of how dumb and corrupt their case is.

Really strange case. Usually the prosecuting regulatory body goes full steam, never tries to delay anything. They are spending millions of tax payers money to “protect investors” (without a single xrp holder asking them to do so) dragging out this case, and now Gary Gensler is begging congress for more money. SMH. 

Edited May 21, 2022 by preacherman76