“United States Court of Appeals for the District of Columbia, reigns supreme, and it is now controlled by judicial activists who seem quite willing to negate, on technical grounds, any regulations they do not like," writes New York Times columnist Floyd Norris.
There are three vacancies on the 11-judge court. Norris writes that President Obama’s nominees are likely to be blocked by Republicans in Congress.
Norris draws his picture of the court from a Yale Journal on Regulation paper, coauthored by a CFPB lawyer, that delves into the court’s history of decisions regarding the SEC. The defeats have hinged on issues of cost-benefit analysis and "a willingness to find that the S.E.C. failed to do enough to quantify even minor costs," writes Norris, which could doom the implantation of rules mandated by Dodd-Frank.
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