On June 10, Treasury Secretary Timothy Geithner announced several ways that the Obama administration intends to change corporate practices for determining executive compensation. The administration will support “say on pay” legislation, so named because it is supposed to give shareholders a say on how top executives are compensated, and other legislation granting the U.S. Securities and Exchange Commission (SEC) power to make sure that compensation committees “are more independent.” Additionally, famous Washington lawyer Kenneth R. Feinberg was named as an overseer of executive compensation packages for companies bailed out by the government.
Soon America will move, in all likelihood, from a Supreme Court with a Justice David Souter as a member to a court with a Justice Sonia Sotomayor. Neither the alphabetical order of the justices nor the constitutional disorder will change. Little will change but gender and ethnicity, which the major news media would have us believe are the most important considerations.
On May 28, the Competitive Enterprise Institute released the 2009 edition of their report on the impact of federal regulation. Entitled Ten Thousand Commandments: An Annual Snapshot of the Federal Regulatory State, the 51-page PDF delves into the morass of regulation oozing out of Washington. The Executive Summary of the report is posted at the institute’s website and gives a quick overview of the report’s findings.
United Nations General Assembly President Miguel D'Escoto Brockmann intends to leave his mark on the United Nations and the global economic-political picture before his one-year term ends in September. D'Escoto, a longtime top official in the communist Sandinista government of Nicaragua, has chosen as his primary vehicle for making this mark the UN Conference on the World's Financial and Economic Crisis to be held June 24-26 at the UN headquarters in New York.
Karen Handel, Georgia secretary of state, issued a scathing press release following a decision by the U.S. Department of Justice to deny preclearance for Georgia's (already implemented) plan to verify the legitimacy of its voter-registration lists, including verifying whether or not applicants are U.S. citizens. Because Georgia, like many other southern states, must pre-clear its voting procedures with the U.S. Department of Justice, denial of preclearance equates to denial of permission to do it.
Dr. Ron Paul’s son, Rand Paul, has formed an exploratory campaign for U.S. Senate from Kentucky. Rand Paul is similar to his father in ideology; he favors a strict application of the Constitution to federal government matters, thus opposes the Federal Reserve Bank and the U.S. Department of Education and supports lower taxes and less spending.
Will Judge Sonia Sotomayor, President Barack Obama’s nominee for the U.S. Supreme Court, be for Republicans and for conservatives in general what many have dubbed Vice President Joe Biden? Biden has been called “the gift that keeps on giving” because of his tendency to stick one and Sotomayor may have some of the same rhetorical tendencies.
The Obama administration on May 27 released a 28-page report trumpeting all that has been accomplished in the first 100 days since the American Recovery and Reinvestment Act was signed into law. Entitled Recovery Report: 100 Days, 100 Projects, the booklet claims to list 100 projects that have been accomplished through stimulus funding. But the accuracy of specific details in the report has already been called into question, most notably — and perhaps surprisingly — by ABC News Senior White House Correspondent Jake Tapper.
The nomination of U.S. Court of Appeals Judge Sonia Sotomayor for the U.S. Supreme Court is bound to produce some interesting confirmation hearings. There is definitely a fight to be made over the judge’s views on things like affirmative action and the role of the judiciary and whether she really believes that courts of appeals are “where policy is made,” which a YouTube video has shown her saying.
President Obama announced the merger of the Homeland Security Council with that of the National Security Council in order to make Americans safer, he said. Also included are several measures hinted at but yet to be delineated.
The Left is in a tizzy over Izzy. More precisely, they are in a tizzy over the latest revelations exposing the late I.F. "Izzy" Stone as worse than a god with feet of clay. Documents from the KGB archives show that instead of being the sainted, fiercely independent crusading journalist he pretended to be, Stone was, in fact, a Soviet agent, a toady for Stalin, one of the most vile, murderous tyrants ever to have stalked the planet.