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Monday, July 04, 2022

Next up: WV vs. SEC

West Virginia Attorney General Patrick Morrisey ain't through with you, Brandon. After spanking the EPA in the Supreme Court, 6-3, the AG is taking on the Securities and Exchange Commission for going beyond its congressional mandate by imposing carbon dioxide controls on every publicly held company in the country.

The SEC proposed a ream of rules (literally as it is 500 pages long) called the Enhancement and Standardization of Climate-Related Disclosures for Investors.

It is garbage.

Congress created the SEC to protect investors from market manipulation. Nearly 100 years later, Brandon is using the SEC to manipulate the market and drive coal companies out of business.

The SEC will be another pelt next to the EPA's scalp.

It is the same principle: Congress, not the bureaucrats, decide what federal agencies may do. Congress told the EPA to go after pollutants, not nutrients. Carbon dioxide enables life on this planet. If Congress wants too kill us all off, it must say so.

That was what WV v. EPA was all about.

Morrisey told Just the News, "We wanted to say this is really about maintaining the separation of powers, not climate change, because it was about who gets to make the major decisions of the day, not necessarily what those decisions are, but who gets to make it.

"And the reason that's so important, is because when you have something so fundamental, a vast economic and political significance, you want the people's representatives to make a decision, and to have clear statements, clear lines of delegation to the federal agencies. 

"And that did not happen here. That's why the court said that it was not going to allow the Clean Power Plan or similar type of regulation to go forward."

The EPA case took 6 years and 3 presidencies to get the case heard and decided in favor of the people.

Who know if Morrisey will still be West Virginia's AG in 2028?

That is why signing on 24 other states is important.

Lefties are upset. 

E&E, which pushes the anti-science, anti-carbon dioxide agenda, said, Republican officials "have accused major banks, money managers and agencies including the SEC and Federal Reserve of attempting to bankrupt the fossil fuel industry, and said they need to prioritize financial returns and stability above all else.

"Progressives, Democrats and a growing number of financial regulation experts see it differently. They say regulators and finance firms have a responsibility to take into account all potential risks and that research has shown climate change represents a significant threat.

"As to whether the EPA ruling has any implications for the SEC’s rule, Todd Phillips, who directs financial regulation at the Center for American Progress, a progressive group, argued the two situations are 'fundamentally different.'"

Phillips said, "My take is the West Virginia v. EPA case was about a very specific statutory authority for the EPA, and what the SEC is doing or proposing to do is just nothing like that.

"The SEC has proposed a rule to require companies to disclose information to investors and potential investors. That is what the SEC has been doing since it was first created."

Baloney.

Morrisey said, "Biden has tried to transform the federal bureaucracy to suit his agenda. It's not going to hold up, and I think one of the the best examples of federal overreach, where the major questions doctrine can now be applied is in the SEC's ESG [environmental, social, and governance] rules."

The ESG rules have to go, too.

He has not filed WV v. SEC yet.

Oh but he will.

11 comments:

  1. This is the one that could break the bureaucracy.

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  2. Patrick is THE biggest and most consequential politician in Almost Heaven right now. I met him in Martinsburg during his failed run for the Senate in 2018. It’s true, he is a little dog, but he FIGHTS and is relentlessly optimistic. I was on the corner of Queen Street having a smoke after the event and he drove by in a van, on his way back to Charleston for one last rally. (Damn, that’s a long drive.) Waved and got a thumbs-up in reply. YOU GO, PATRICK!!!

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  3. As superb as Patrick might be, he shares the title you've bestowed upon him with State Treasurer Riley Moore, who is equally adept at playing hardball with financial institutions that refuse to fund fossil fuel investments. Almost Heaven is lucky to have them both.

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  4. Yeah - the fights will get nastier because the reality is that SCOTUS is about to break the bureaucracy in half.

    And if NY thinks it is cute trying to get around the SCOTUS 2A ruling - just wait until the red states start deciding what things they aren't going to agree to.

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    Replies
    1. The only thing that will break the bureaucracy in half will be the day when their paychecks cease to exist.

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  5. Only politicians with balls in Oregon are Women but they are all on the left side-the balls that is.

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  6. Congress created the SEC to protect investors from market manipulation.
    =========
    wrong >>>> to make sure market moves in Congress critters favor as/when needed

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  7. Thank you West Virginia.

    The Center for American Progress is anything but for progress of Americans. It is for progressives. If they are for something, I am against it.

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  8. It all goes back to who will enforce the SC's edicts. NY plans on simply ignoring (Deliberately) the gun freedoms that came out of this court. The only recourse we have is to vote the bums out, and we all know that won't work any more. The Dems find enough ballots 'missed' in the original counting to sway all the elections their way. What's left?

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  9. Did anyone else read the headline and think that the Mountaineers wouldn't stand too much chance against Bama, LSU, and UGA? They need to stick with the Big 12.

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