Jonathan Wilson is an
Atlanta attorney with more than 19 years of experience guiding growing private and public companies. He currently serves
as the outside general counsel of several companies and is the former general counsel of Web.com.com (NASDAQ: WWWW) and EasyLink
Services (NASDAQ: ESIC). He is also the founding chair of the Renewable Energy Committee of the American Bar Association's
Public Utility Section.
Monday, June 25, 2012
Awaiting a Ruling on Obamacare
8:48 am edt
As all eyes remain glued on the Supreme Court, awaiting a ruling on the Affordable Care Act, it seems hard to avoid the conclusion that this is going to be a bad week
for President Obama:
1. His Attorney General is almost certain to be held in contempt of Congress this week over
a botched gun-walking project that would be comical if it weren't for the fact that it resulted in the death of at least one
U.S. border patrol agent;
2. The Eurozone remains mired in a financial crisis (the result of following policies
of precisely the sort President Obama would implement in the U.S. if it were up to him) and the only thing the Europeans can
agree on is that they disagree with the U.S. President; and
3. Elected officials from his own party seem to be tripping over each other to avoid endorsing the President
or appearing at his convention this summer.
If the Supremes uphold Obamacare, the ruling will further enrage the
55% or more of Americans who want the law overruled. If the Supremes strike down Obamacare, they demonstrate that Obama
wasted the bulk of his first term in office, which was dominated by the buildup to his health care law.
week feels like it is going to be the beginning of the end for this presidency.
Friday, June 22, 2012
CEI Sues Over Constitutionality of Dodd-Frank
The Competitive Enterprise Institute has filed a constitutional challenge to parts
of the Dodd-Frank “Wall Street Reform and Consumer Protection Act”. (Complaint.)
9:21 am edt
The complaint argues that Dodd-Frank represents an
unprecedented exercise of illegally unchecked government power. It puts control of practically every financial institution
into the hands of several new agencies. One of them, the Consumer Finance Protection Bureau (CFPB), is run by a single
director put into office by President Obama through an illegal recess appointment.
"As a whole, Dodd-Frank aggregates the power of all three branches of government in one
unelected, unsupervised and unaccountable bureaucrat," said former White House Counsel C. Boyden Gray. (WSJ: Why Dodd-Frank is Unconstitutional.)
There are no effective checks and balances
to assure the public of accountability. Most importantly:
- Congress exercises no “power of the purse”
over Dodd Frank’s CFPB, because the agency is funded not by Congress but by the Federal Reserve, amounting to approximately
$400 million that Congress cannot touch
- The President cannot carry out his constitutional obligation
to “take care that the laws be faithfully executed,” because the President cannot remove the CFPB Director except
under limited circumstances.
- Judicial review of the CFPB’s actions is limited, because Dodd-Frank requires
the courts to give extra deference to the CFPB’s legal interpretations.
- This unaccountable power
over the daily lives of the American people results in a lack of public accountability, creating a power grab over every U.S.
citizen. It also threatens to restrict the availability and increase the cost of such things as mortgages and banking accounts.
CEI has successfully challenged such unchecked bureaucracy before. In 2010, the Supreme
Court sided with CEI in striking down parts of the Sarbanes-Oxley law, because it too created an unaccountable agency,
the Public Accounting Oversight Board.
Thursday, June 21, 2012
All Eyes on the Supremes
10:23 am edt
All eyes these days seem to be focused on the Supreme Court, waiting
for a ruling on the Affordable Care Act (a/k/a Obamacare). (SCOTUSblog).
SCOTUSblog is reporting that it has over 70,000 readers watching its live blog of the Supreme Court's
Phone: 404-353-4833 | firstname.lastname@example.org
Jonathan B. Wilson is an Atlanta attorney at the law firm of Taylor English Duma LLP. Jonathan B. Wilson
provides legal advice to investors, companies and business executives involving corporate law, securities law, SEC matters,
intellectual property, website and Internet legal issues, start-ups, limited liability companies, partnerships, 1934 Act matters,
outsourcing, strategic alliance agreements, contracts, and other matters of importance to growing private and publicly-traded