Subject: Re: Biden family update, just in case
Speaking of delaying tactics, if the SCOTUS does away with the power of the S.E.C. to penalize violators (inside traders, frontrunners, frauds and market manipulators of all stripes) with big bucks will be able to tie up the Halls of Justice like nobody has ever seen.

If the USSC makes up some new principal that Congress cannot delegate ANY rule-making or enforcement authority to an agency of the Administrative branch, the US will cease to exist in about 3.5 years. If you go back in history and look at the timelines between points at which crucial changes in the law unleashed exponentially powered frauds that melted down the economy, I would estimate the average is about seven years. For one fact on that seat-of-the-pants graph, just look at the Commodities and Futures Modernization Act (enacted in December 2000) and the securitization fraud that triggered a collapse of the entire world economy starting in March 2008 with the instant collapse of Bear Stearns but really taking hold in September 2008 with the collapse of Fannie Mae / Freddie Mac then Lehman Brothers.

And that was the behavior of the financial industry WITH the illusion of material regulation and some threat of criminal prosecution for gross abuses. (Some "threat." Remember, only a SINGLE bank executive was convicted of any crime as a result of the 2008 meltdown and only one BANK -- Abacus Bank, a community lender in NYC -- was criminally charged.) If the USSC de-fangs the regulatory and administrative powers of government agencies as part of some fixation on minimalist government and the need for Congress to decide EVERYTHING to avoid a despotic bureaucracy, the existing monopolies will grow unchecked to the point the fraud and mistakes they commit will outstrip any public ability to correct them. Without even the appearance of consequences, that will take even less time than normal.


WTH