2. Corporate Personhood - Santa Clara County v. Southern Pacific Railroad Company (118 U.S. 394) (1886), The legal theory that corporations are entitled to protection under the Fourteenth Amendment is based on a clerical error and is null and void. A passing remark by the chief justice was erroneously summarized in the headnote by the court recorder. This clerical error set the stage for the future worldwide damage of our environmental, governmental, and cultural commons and must be corrected.
3. The Federal Reserve Act of 1913 which established the Federal Reserve System (The Fed) is clearly unconstitutional. Congress does not have the Constitutional authority to delegate its power to coin money or to write rules and regulations to the Federal Reserve which is a private corporation owned by bankers.
The Federal Reserve, has been an abject failure at most of its duties which according to official Federal Reserve documentation, are to conduct the nation's monetary policy, supervise and regulate banking institutions, maintain the stability of the financial system and provide financial services to depository institutions, the U.S. government, and foreign official institutions”.
On September 23, 2009, House Financial Services Committee Chairman Barney Frank (D-MA) released a report card demonstrating the poor record of the Federal Reserve in using the tools provided by Congress to protect consumers from abusive financial industry practices. Chairman Frank cited several examples of the Federal Reserve’s unsatisfactory performance and stated: The Federal Reserve's inattention and inaction on consumer protection is a key reason why Democrats are working to create the Consumer Financial Product Agency in the coming weeks and months. As the above report card shows, consumer protection has long been overlooked by federal regulators, and their motivation to protect consumers has been driven more by congressional pressure rather than a sense of duty to the protect the American public.
The Federal Reserve has also failed to insure that there is maximum employment, stable prices, and moderate interest rates which the Federal Reserve Act requires.
Their main job, appears to protect, not regulate large banks. The Feds actions have increased the frequency and severity of boom-bust economic cycles such as the Great Depression of the 1930s, the late-2000s recession, and the current rate recession.
4. The Glass-Steagall Act (48 Stat. 162) (1933) Created the regulatory framework for banking; established the Federal Deposit Insurance Corporation (FDIC) and other speculative trading and mergers opening up competition among banks, securities companies and insurance companies. It passed the Senate 90-8 and was signed by President Clinton. It led to a wave of mega-mergers “too big to fail.’ The driving force was Sen. Phil Gramm (R-TX) who had received $4.6 million from the FIRE sector over the previous decade. This act is credited as the major contributor to the 2008 financial collapse.
5. Administrative Procedure Act (APA) (Public Law 79-404) (1946) This is one of the most important pieces of United States administrative law. It enabled bureaucrats, instead of legislators, to write law.
6. The National Security Act (P. L. No. 235, 80 Cong., 61 Stat. 496, 50 U.S.C. ch.15) (1947). *Created the CIA* — a secret army, a covert operation. The powerful no longer have to explain anything! This was the granddaddy of all the others. (Foreign Intelligence Surveillance Act [FISA], The Patriot Act, Anti- Terrorism Act, etc.) It was the start of the national security state we are now under, and the beginnings of a fascist state.
7. Taft-Hartley Act, The Labor-Management Relations Act (80 P.L. 101; 61 Stat. 136) (1947) Federal law which monitors activities and power of labor unions. Labor leaders have
called it the "Slave-Labor" bill. It tilts labor-management balance.
8. Terry vs. Ohio 1969 Gave police “stop & frisk.”
9. Cap and Trade (Emissions Trading) (1970) A market-based carbon-trading scheme which banking reforms. It placed legal restrictions on speculation and forbid combining
banking and financial service firms. The 1999 repeal of this act is credited as the major contributor to the 2008 financial collapse. is an expression of the inability and unwillingness of legislators to address environmental problems which arise from our mode of energy use (in large part carbon emissions). Although Caps are needed. Trading these Caps does nothing for the environment, or people and enriches Wall Street and hurts the economy.
10. War Powers Resolution (50 U.S.C. 1541-1548) (1973) The Constitution is explicit in
allowing only Congress the ability to declare war. This resolution opened the door slightly for the president to be involved in the decision. Since 1973, however, presidents have often flung the door open, ignoring this resolution and the Constitution.
11. The Monetary Reform Act (also cited as Depository Institutions Deregulation and Monetary Control Act) (P. L. No. 96-221; 94 Stat. 132) (1980) Highlights: Allows banks to merge, and institutions to charge any interest rate they choose. Forces all banks to abide by Federal
Reserve rules, and raised deposit insurance of banks and credit unions from $40,000 to $100,000. (An aside: the Fed. Reserve is a private bank.)
12. The Monetary Reform Act (also cited as Depository Institutions Deregulation and Monetary Control Act) (P. L. No. 96-221; 94 Stat. 132) (1980) Highlights: Allows banks to
merge, and institutions to charge any interest rate they choose. Forces all banks to abide by Federal Reserve rules, and raised deposit insurance of banks and credit unions from $40,000 to $100,000
13. The Fairness Doctrine repealed under Reagan 1987 (Federal Communications Commission [FCC] policy) (1949) Required broadcasters to present controversial issues in an honest, balanced manner. In 1988 FCC commissioner Johnson wrote that bringing back the
Fairness Doctrine would be "nothing less than possession of the First Amendment: Who gets to have and express opinions in America."
14. World Trade Organization (WTO) (1995), North American Trade Agreement (NAFTA)
(1994), Central American Trade Agreement (CAFTA) These have functioned principally to pry open markets for the benefit of transnational corporations at the expense of national and local
economies - workers, farmers, indigenous peoples, women and other social groups - health and
safety - the environment - and animal welfare. In addition, in the WTO system, rules and procedures are undemocratic, un-transparent and non-accountable and have operated to marginalize the majority of the world's people.
15. Telecommunications Act of 1996 (P. L. 104-104, 110 Stat. 56) (1996) The Act was claimed to foster competition. Instead, it continued historic industry consolidation reducing the number of major media companies from around 50 (1983) to 6 (2005). It led to a drastic decline in the number of radio station owners. Example of corporate welfare spawned by political corruption - it gave away to incumbent broadcasters valuable licenses for broadcasting digital signals on the public airwaves. Lesson from this act: Deregulation before meaningful competition spells consumer disaster.
16. Welfare Reform Act (Personal Responsibility and Work Opportunity Reconciliation Act, H.R. 3734, P.L.104-193) (1996) Sets time limits on entitlements and cash assistance to welfare recipients; requires most recipients to get jobs; changes disability definitions for SSI for
children; denies many legal immigrants from collecting SSI and food stamps, and much more.
Inherent in the Act: misogyny, racism, and exploitation of women (do whatever job you can get and don't complain - or risk homelessness). Attention should have been directed to conditions of low-wage labor market - living wage, health care, and child care all desperately needed.
17. FDA Modernization Act of 1997 (FDAMA, P. L. 105-115, 21 USC 301) (1997) FDA relaxes rules of prescription drug advertising. Eases restrictions on direct-to-consumer advertising of prescription drugs. Allows manufacturers to disseminate journal articles describing the results
of trials for unapproved uses of drugs. And much more.
18. Truth in Lending Act “Reform” (Sept. 30, 1995) Eased regulations on creditors. This bill was powered through by Rep. Bill McCollum (R-FL), a key recipient of finance, insurance, and real estate (FIRE) donations ($136,000 in 1993-94).”
19. Gramm-Leach-Bliley Act (1999) A bank deregulation bill that repealed much of the Glass-Steagall Act by allowing commercial and retail banks to engage in investment activities,
20. Commodity Futures Modernization Act (Dec. 14, 2000). Sen. Gramm attached a 262 page amendment that deregulated derivatives and credit default swaps trading to an omnibus appropriations bill just prior to the Christmas holiday in December of 2000. Gramm's amendment was supported by then Fed Chairman Alan Greenspan and then Treasury Secretary Larry Summers. The amendment was never debated by the House or Senate and by-passed the substantive policy committees in both the House and the Senate so that there were neither hearings nor opportunities for recorded committee votes. This law unleashed the derivatives market, paved the way for banks to become more aggressive about investing in mortgages, and opened the door to an explosion in new, unregulated securities. The amendment also contained a provision lobbied for by Enron, a generous contributor to Gramm that exempted energy trading from regulatory oversight, allowing Enron to run rampant, wreck the California electricity market, and cost consumers billions before it collapsed.
21. American Home Ownership and Economic Opportunity Act (Dec. 27, 2000). This act makes it harder for consumers to get out of lender-required insurance.
22. The Authorization for Use of Military Force Against Terrorists (Pub. L. 107-40, 115 Stat. 224, enacted September 18, 2001), The Authorization for Use of Military Force Against Iraq(AUMF) Resolution of 2002 and Legislation appropriating fund for the War on Terror are unconstitutional, null and void as outlined in Proof of the Unconstitutionality and Illegality of U.S. Wars/Occupations and Use of Force in the Mideast From Emmet J. Bondurant’s THE SENATE FILIBUSTER RULE
23. The Economic Growth and Tax Relief Reconciliation Act of 2001 (Public Law 107-16, 115 Stat. 38, June 7, 2001) ("The Bush Tax Cuts")
24. Bankruptcy Abuse Prevention and Consumer Protection Act (April 20, 2005) The act
makes it harder for consumers (but not businesses) to discharge debts. The strict means test that would force more debtors to file under Chapter 13 (under which a percentage of debts must be paid over a period of 3-5 years) as opposed to Chapter 7 (under which debts are paid only out of existing assets), the additional penalties and responsibilities the bill placed on debtors, and the bill's many provisions favorable to credit card companies.
25. The Supreme Court ruling in Citizens United V. Federal Election Commission on January 21, 2010, which wrongfully and unlawfully, attempts to give corporations unlimited influence over our elections, fails to distinguish between domestic and foreign owned corporations, and knowingly leave America vulnerable to the latter, is null and void. Corporations are not people, and nothing in the Constitution supports any such interpretation.
26. Patient Protection and Affordable Care Act (PPACA) of 2010 27. Restoring American Financial Stability Act (RAFS) of 2010
28. Jobs-Jumpstart Our Business Startup Act of 2012
Relaxes rules on private company investing. Silicon Valley lobbied for. SEC former chief accountant Lynn Turner, “The rule change creates a real opportunity for scams, fraud, and significant losses.”
29. Suspension of the uptick rule that required that short sale transactions be entered at prices that are higher than the price of the previous trade. This rule prevents short sellers from adding to the downward momentum when the price of an asset is already experiencing sharp declines.
30. De-regulation that allowed reduced margin and position limits for speculators.
