Does Heartland v NLRB Provide Clues for Perry Upcoming Decision?

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Does Heartland v NLRB Provide Clues for Perry Upcoming Decision?
Fannie Mae

We are patiently awaiting the Appeals Court’s decision in Perry v US regarding the GSE’s. Well, not patiently really but we have no other choice. The case is before Judges BROWN and MILLETT, Circuit Judges, and GINSBURG, Senior Circuit Judge.  It is always helpful to note previous decisions for possible clues as to how they view things.  Today a decision in Heartland v NLRB I think gives us some insight that this panel is not one to simply acquiesce to the “HERA says we can do whatever we want so bud out” line of thinking advanced by the government to this point (and Perry argues erroneously accepted by Lambreth).

From the decision (h/t reader Mark):

We recognize the Board’s unimpeded access to the public fisc means these modest fees can be dismissed as chump change. But money does not explain the Board’s bad faith; “the pleasure of being above the rest” does. 24 See C.S. Lewis, MERE CHRISTIANITY 122 (Harper Collins 2001).

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Let the word go forth: for however much the judiciary has emboldened the administrative state, we “say what the law is.” Marbury, 5 U.S. (1 Cranch) at 177. In other words, administrative hubris does not get the last word under our Constitution. And citizens can count on it.

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Todd Sullivan is a Massachusetts-based value investor and a General Partner in Rand Strategic Partners. He looks for investments he believes are selling for a discount to their intrinsic value given their current situation and future prospects. He holds them until that value is realized or the fundamentals change in a way that no longer support his thesis. His blog features his various ideas and commentary and he updates readers on their progress in a timely fashion. His commentary has been seen in the online versions of the Wall St. Journal, New York Times, CNN Money, Business Week, Crain’s NY, Kiplingers and other publications. He has also appeared on Fox Business News & Fox News and is a RealMoney.com contributor. His commentary on Starbucks during 2008 was recently quoted by its Founder Howard Schultz in his recent book “Onward”. In 2011 he was asked to present an investment idea at Bill Ackman’s “Harbor Investment Conference”.

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