03 July 2009
Well, This is a Weird 5-Way
Justices Antonin Scalia, John Paul Stevens, David Souter, Ruth Bader Ginsburg and Stephen Breyer formed the majority on "Cuomo vs. Clearing House Association, (Eliot Spitzer originally brought the case) where they affirmed a states right to enforce laws against unfair lending practices.
If you had told me that a 5-4 decision in the Supreme court would have this makeup, I would have thought that you were pulling my leg.
While the Supreme Court did limit the scope of state Attorneys General, they do not have the right to simply demand documents, as federal regulators do, they have to get a court order, this is a big victory for consumers, and Scalia authored it.
Reality is sometimes odd.
If you had told me that a 5-4 decision in the Supreme court would have this makeup, I would have thought that you were pulling my leg.
While the Supreme Court did limit the scope of state Attorneys General, they do not have the right to simply demand documents, as federal regulators do, they have to get a court order, this is a big victory for consumers, and Scalia authored it.
Reality is sometimes odd.
Labels:
Finance
,
Justice
,
regulation
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