June 18th, 2007

yellow_elephant

Yes, You CAN feel safer now....

The U.S. Supreme Court gave Goldman Sachs Group Inc. and other investment banks a new shield from antitrust claims, throwing out lawsuits that accused the securities industry of rigging 900 initial public offerings.

The justices, voting 7-1, today overturned a federal appeals court ruling that had permitted suits against 16 investment banks and institutional investors, a group that also included Credit Suisse Group and Merrill Lynch & Co. The investors were seeking billions of dollars in damages.

``An antitrust action in this context is accompanied by a substantial risk of injury to the securities markets,'' Justice Stephen Breyer wrote for the court. He said a shield was warranted because of the Securities and Exchange Commission's regulation of IPOs.
...
The Bush administration largely backed the securities industry in the IPO case, saying the investors might be able to re-draft their lawsuit to focus only on conduct not permitted by the SEC. The majority went beyond that position and threw out the lawsuits.

[ cf Investment Banks Shielded From Suit by Top U.S. Court (Update3)
(emphasis added for comedic effect) ]
Gosh... Golly!!! Gee Whiz....

What? the invisible hand of the Great Imaginary Foote of the Market must be protected by the Supreme's essentially indemnifying the, well, gosh, wonders of a regulatory system that establishes a safe and sane market system by making sure that the game is legit...

Hum....

Do we really want to have a system of checks and balances???? Or would that be like threatening america with a retreat to the mere law of Man!!! Rather than the Divine Rights Of Divinities...

Ah yes, America, the land of the Massive Whatever....
yellow_elephant

Speaking Of Support The Troops...

Does anyone remember Antonio Taguba?

And would this be a wrong time to ask folks to read The General’s Report by seymour M. Hersh...

Could the recent Surge of "support for college frat boy hazing" { the new meme about the torturing and murdering of detainees has become encoded amongst the FreeperVilleFollies } came into play because, gosh, it might not be nice to allow americans to remember that it was not merely the cheap and cheezy sex scandal that was Abu Ghraib - but the rest of the problem - like the dead detainees that would lead to various war crime trials of american troops.

Then there is that on going problem with the apparent 90% rate of no good reason to detain and torture folks. Ah yes, but that was back in the dark old days before we had institutionalized the Surge System of grinding down the american military, so the fighting 101st Keyboardists could keep on keeping on with their patriotism.
yellow_elephant

Supporting The Post Surrealist Community, One Paradigm Shiftlette At A Time...

Thinking back over the blather last week over Sen. Reid's (D-NV) comments about Gen. Pace, it's quite astonishing that the White House could with a straight face attack Reid for questioning Pace's competence only day's after they'd fired him. Think about that. The White House fires Pace as part of its many-month effort to sack everyone from the Rumsfeld era at the Pentagon. And Reid is in hot water for questioning the man's abilities?
[ cf Tpm Entry
( emphasis? You mean the darkening gloom of the Liberal Agenda of Agendavists) ]
Uh, but haven't everyone who is anyone accepted that the Tree Hugger In Chief is one more illustration of the Horrors or the Radical Left Wing Extremists Draft Dodger Anti-American, Anti-Military, Anti-War stance brought on by bad drug use????

I mean, folks REALLY can not believe that the Tree Hugger In Chief is anything other than just one more RadFemiSurfNazi, now can they????