by Pam Martens and Russ Martens, Wall Street on Parade:
Those complaining that Senator Elizabeth Warren went too far in her complaints against Mary Jo White’s leadership at the Securities and Exchange Commission obviously didn’t see yesterday’s Federal court decision coming. It now appears that Senator Warren would have had good grounds to also charge Mary Jo White with replicating the judicial practices of King George III – against whom the Declaration of Independence was drafted.
U.S. District Court Judge, Leigh Martin May, ruled yesterday in Atlanta that the SEC’s system of selecting in-house judges to hear and decide SEC cases brought against individuals charged with securities violations was “likely unconstitutional.” The Judge imposed a preliminary injunction in an SEC insider-trading case until she issues her final decision in the matter.
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