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View Diary: Dodd will filibuster (218 comments)

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  •  in addition (0+ / 0-)

    the dissenting SC opinion (also held by Dodd) held that:

    The dissent also rejects the majority’s finding regarding Congressional intent, arguing that Congress’ actions (or rather, inactions) cannot be read to bestow immunity on an undefined class of actors from liability under Section 10(b). Finally, the dissent conclude with a lengthy affirmation of the right of court’s to imply remedies, even in the absence of legislative action.

    -Stevens, Ginsberg, Souter

    I like a little rebellion now and then. It is like a storm in the atmosphere ~ Thomas Jefferson

    by valadon on Thu Jan 24, 2008 at 12:29:37 AM PST

    [ Parent ]

    •  Yep. (0+ / 0-)

      That's the point of their concern with Dodd. They believe he played the game when he wrote the legislation knowing this could be the ultimate result. (then issues press release against it, but no legislation to correct it). No private right of action for fraud. Pure immunity. In the legislation. So easy to fix. Word also is that the Chief Justice chided the banking committee for this fact and threw them the ball knowing that would drop it and issue PR.

      Some of these plaintiffs are deep pocket funds very angry with the lack of action from committee.

      •  SJ it is my understanding (0+ / 0-)

        That as disastrous as this recent decision was that the plaintiffs and Enron victims might seek recourse through the SEC (provided for in legislation)...and it may be their only remedy. The problem the SC provided was the inability to name all fruadulent entities in their redress of this fraud.

        Now here's the rub...both Justice Breyer and Roberts were to recuse themselves from this case, but only Breyer did. (conflict of interest).

        I like a little rebellion now and then. It is like a storm in the atmosphere ~ Thomas Jefferson

        by valadon on Thu Jan 24, 2008 at 01:16:29 AM PST

        [ Parent ]

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