Two interesting developments:
Court: Obama appointments are unconstitutional, in which our President did what he said he would do: “We can’t wait for Congress to do its job, so where they won’t act, I will.” So Mr. Obama exercised his power to make recess appointments, except the Senate wasn’t technically in recess. The courts said ‘no can do’. Psst, Mr. Constitutional Scholar – the President and the Congress have different jobs under that Constitution you swore to protect and defend. They can’t do your job, and you can’t do theirs – that would be the ENTIRE FREAKING POINT of having separate branches of the government. Just FYI.
I guess this is why we have to stop getting all worked up over the Constitution. (H/T to Mr. Flynn) How’s a guy supposed to get anything done, if he’s got to obey the laws and all that? Next step – the will of the American people, from whom you derive your mandate and power, demand you say, in their name: when the courts don’t get it right, I will.
Just say it. You’ll feel better.
Finally, we’ve gotten a new Chairman of the Securities and Exchange Commission. Her job includes (from the SEC website):
- protect investors, maintain fair, orderly, and efficient markets, and facilitate capital formation.
- prohibit deceit, misrepresentations, and other fraud in the sale of securities.
Since the President can appoint anyone he wants, we should expect a fiery crusader bent on establishing some Justice down there on Wall Street! Looking out for the little people! Some zealous outsider, free to thumb her nose at the big investment banks, and impervious to the vagaries of the press.
Let’s see: Mary Jo White did spend time as a Federal prosecutor, and is known to be aggressive and fearless – she went after Gotti, after all. So far, so good. But for the last 10 years, she’s worked as a corporate defense attorney at Debevoise & Plimpton LLP, a very prominent NYC law firm (with main offices almost 6 whole miles from wall Street) . Her job was to *defend* giant corporations from lawsuits, you know, keeping those pesky investors and others at bay. Hmmm.
No matter, I’m sure she’ll go after those clowns at Goldman, JP Morgan Chase, and AIG – except that each of those companies is a major client of Debevoise & Plimpton. And it can get pretty hot, with the press breathing down your neck, so it’s probably helpful that the NYT, CNN, and NBC are also major Debevoise & Plimpton clients.
And then, there’s the little problem about her having no experience in high finance. No problem! She can rely on her staff to figure out that hard stuff – and her staff trained at Goldman and friends, and will be headed back to jobs on Wall Street just as soon as they’ve done their time, oops, I mean given back to the nation as SEC employees. No conflict of interest, there – they will no doubt selflessly go after the people they expect to ask for a job in a year or two. It would be mean-spirited to suppose otherwise.
So we can count on Chairman White to continue the Obama administrations sterling, unblemished record of having, just like Bush, pursued exactly *zero* prosecutions against the people responsible for the loss of trillions of dollars and millions of jobs. Nope, they gave it a glance, and the once and future Goldman & Friends employees manning the SEC determined that nobody on Wall Street did *anything at all* wrong by selling AAA securities to unsuspecting peons while simultaneously betting millions that they would go bad. Among other things.
Nothing to see here, move along.