Tag Archives: politics

Another Reason…

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…to disband altogether the Securities and Exchange Commission and build a new exchange watchdog from the ground up. Now it wants a database of all investor personal information whenever those investors make a move in our stock market.

The Consolidated Audit Trail (CAT) database was originally proposed by the SEC in 2010 to help regulators track order and trading activity throughout US markets for listed equities and options. According to the ASA, the database will list all the financial holdings and personal information of investors, including their name, phone, address, brokerage accounts, birthdate, and Social Security numbers.

Then, a year ago,

the SEC released an order that granted temporary relief from certain requirements of the CAT, delaying its full implementation until 2024. In the interim, the SEC is requesting the information be given voluntarily, with expected forced implementation by next year’s deadline, according to the ASA [American Securities Association].

This is just weasel-working around the SEC’s demand to have all personal information, even though it has no need for those data.

This SEC has shown, once again, that as an institution it cannot be trusted with American investor data.

Activist Judges

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There are three of them on the 4th Circuit, those who unanimously ruled that construction on the Mountain Valley Pipeline must stop pending those judges’ personal review of the Interior Department’s record of decision for permitting pipeline construction in the national forest.

These judges don’t care that the 4th Circuit has no jurisdiction over the pipeline or cases related to it. The recently concluded debt ceiling law explicitly stripped the 4th Circuit of jurisdiction, limited questions about the pipeline to constitutional questions, and placed those questions solely within the jurisdiction of the DC Circuit.

The Wall Street Journal‘s editors concluded their editorial with this:

Three willful judges have improperly usurped the power of Congress and the executive branch. Judges who refuse to honor proper orders from the political branches are begging to have the political branches ignore their rulings.

These three judges also have violated their oaths of office and have thereby rendered themselves vulnerable to impeachment and removal from the bench.

Security Guarantees

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In an editorial regarding this week’s NATO summit in Vilnius, Lithuania, The Wall Street Journal‘s editors dropped this line:

A debate is underway over whether Ukraine should benefit from a formal Western security guarantee, or perhaps join NATO.

A Western security guarantee for Ukraine is utterly worthless, as the Budapest Memoranda demonstrate. Marginally better would be NATO membership. Ukraine has some security and government integrity criteria to meet, but it’s working to meet them and would benefit from assistance in that direction.

Better for Ukraine, and the West generally, would be a separate mutual security treaty that would include Ukraine, the Baltics and Poland, and the rest of the Three Seas Initiative nations, along with the US and Great Britain (and, perhaps, Denmark, Sweden, and Norway to strengthen Western control over Russia’s ability to leave the Baltic Sea). For all of the editors’ claimed NATO “improvement,” it still lags heavily in satisfying its own mutual defense obligations, much less doing anything to defend Europe at large.

Along with that, it’s necessary to make clear to Russia that, so long as it insists on playing the barbarian, it will continue to be isolated and contained and that the containment will be rapidly tightened.

Russian paranoia needs also to be corrected. No one in the civilized world has any desire to run over Russia or conquer it. Its vast resources are much more cheaply obtained—to mutual benefit—through free trade than through conquering and occupation. The history of Russian-world relations make such convincing deucedly difficult, but they do not make the convincing impossible.

“Undemocratic”

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Wisconsin Governor Tony Evers (D) used his “line-item” veto power to veto part of a legislatively-passed law regarding public school funding. His veto authority actually is less a line-item veto authority than it is a words and phrases veto authority.

Evers, a Democrat, used his veto pen Wednesday to strike out text intended to increase funding for the 2024-25 school years, crossing out the “20” and the hyphen. The updated language allows K-12 schools to raise their revenue per student by $325 a year until 2425.

Lucas Vebber, Deputy Counsel for the Wisconsin Institute of Law & Liberty, says his organization is considering suing the State over the governor’s inherently undemocratic move.

Evers’ move was assuredly undemocratic, but existing law allows the move. Vebber expanded on his beef, and with that expansion, he has a case—and with that case, he may be able to get the law struck down as unconstitutionally (under Wisconsin’s constitution) vague.

Here you have the people who elected the legislature and are represented here in Wisconsin, in the Senate Assembly to write laws, have written a law they intended. The governor’s veto makes it something completely different.

In Wisconsin, as in each of our States and at the Federal level, it’s the legislature that writes the law(s). A governor’s authority, in this context, begins and ends with signing the legislature’s bill into law or vetoing it. Or, as is the case in a few States, a governor’s authority can include vetoing specific parts of the bill and signing the rest into law. Wisconsin allows a governor to veto words and phrases. However, in no State is a governor allowed to rewrite the bill before signing it.

That’s what Evers has done with his carefully chosen words and phrases veto: he’s rewritten a one-year funding law into a 400 year funding law, and that is plainly unconstitutional. Evers’ move also illustrates how flexible is a Wisconsin governor’s words and phrases veto authority: it’s so flexible as to be too vague to pass muster.

The matter likely will end up in front of the Wisconsin Supreme Court. Unfortunately, that court has an activist liberal Justice majority.

More Progressive-Democratic Party Racism

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This example is breathtaking in its explicitness. California Assembly Public Safety Committee Chairman Reggie Jones-Sawyer (D, 59th District) has proposed a piece of openly racist legislation:

Whenever the court has discretion to determine the appropriate sentence according to relevant statutes and the sentencing rules of the Judicial Council, the court presiding over a criminal matter shall consider the disparate impact on historically disenfranchised and system-impacted populations.

Because the way to eliminate racial discrimination in sentencing is to engage in racial discrimination in sentencing.

This is how steeped in victimhood Party has become. Its members no longer can…discriminate…right from wrong, can no longer discriminate being racist from not being racist.

These Special Ones cannot even perceive the “disparate impact” on crime victims or discriminate the criminal from his crime’s victim.