Since U.S. District Judge Richard Leon issued his shocking decision on July 31 that called for even more draconian price controls under Dodd-Frank’s Durbin Amendment, some legal commentators have given him the benefit of the doubt.
Leon’s decision oozes with unprofessional snark, misconstrues economic terms in the statute’s language, and limits its research of “legislative intent” to the “intent” of one member of Congress who voted for the legislation: Sen. Richard Durbin (D-Ill.).
Leon’s ruling also forces the Fed to construe the law in a way that almost certainly will foment a constitutional challenge.
Because of these many flaws, the Fed has a good shot at getting the ruling overturned in its pending appeal.> Read more
Workplacechoice.org: Union Special Privilege Under Scrutiny
In response to a Miami Herald report, a Miami-Dade County Commissioner is sponsoring legislation to eliminate or reduce the practice of allowing government employees to work full-time for their union, also known as union release time. Union release time is an inappropriate use of taxpayer funds. > Read more
Openmarket.org: Playing Politics with Public Pensions
Many public pension plans around the nation are severely underfunded. The 2008 financial crisis, which wiped out many pension investments, has focused the public’s and policy makers’ attention on the issue since then. But the financial crash and ensuing Great Recession don’t explain all of the problem public pensions face today.
One major problem is self-inflicted: investment decisions that advance political agendas rather than shareholder value.> Read more