Time for another 2008 style financial meltdown. Haven’t had one of those in a while.
I’m thinking maybe 1929.
Tldr of the holding:
When the SEC seeks civil penalties against a defendant for securities fraud, the Seventh Amendment entitles the defendant to a jury trial.
Link to opinion: https://www.supremecourt.gov/opinions/23pdf/22-859_1924.pdf
Edit: Here’s the text of the 7th Amendment for non Americans
In Suits at common law, where the value in controversy shall exceed twenty dollars, the right of trial by jury shall be preserved, and no fact tried by a jury, shall be otherwise re-examined in any Court of the United States, than according to the rules of the common law.
Hahahahahahaha
What oligarchy? What fascism? No see only the winners win because they already won, you all lost that’s fair and square.
Eh - i dunno. They “stripped” them of being able to convict without trial by jury. That’s it. Which they do sometimes anyway.
And, If they go to trial they’ll quadruple the penalties / sentences just because that’s how federal prosecutors do.
I’m not convinced it’s all bad just yet. I could be wrong but that’s the takeaway i got so far.
They’re going to send all the trials to the Fifth Circuit where they will rule against the SEC.
