License to lie
The case, Janus Capital Group, Inc. v. First Derivative Traders, received little notice in the onslaught of punditry over the Walmart win against workers rights, but it effectively innoculated the investment firms from any accountability for lying to their investors. Even worse, this decision just gave "CDO arrangers a huge get-out-of-lawsuits-free card."
So this, my impatient progressive friends, is the best single reason to give Obama another term. For all the disappoinments, he did make two good picks for the court. With the slight possibility that Clarence Thomas' growing ethics scandal might force him to resign, and the very real possibility that Ginsburg might have to retire, we could change the balance on SCOTUS. Over the long run, that could serve our common good the best.
[More posts daily at the Detroit News.]
Labels: Corporatocracy, President Obama, SCOTUS
posted by Libby Spencer at 2:15 PM
3 Comments:
And this, I sincerely regret, is about the only reason to give Barry another term.
I choose also that he ended about a century of inability to get any healthcare at all through congress. It's small, but a beginning. (I now get a yearly exam on Medicare.)
It irritates me a bit when people say he's done nothing. Certainly he's done a lot more than he gets credit for. But still I think the SCOTUS picks are the biggest reason to give him another term.
I'd add, being a relentless optimist, that presidents generally get more bold in their second term since they don't have a re-election to worry about. Given another four years, he may well deliver a lot more of what progs want. But even if he doesn't, it seems unlikely he could be worse than handing the place over to the GOPers.
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