The U.S. Supreme Court has dismissed a lawsuit by California’s public employee retirement system against investment banks that supposedly “duped” them into buying some $700 million of stock. CalPERS, the nation’s largest pension trust fund, could have joined a class-action with others but declined to do so. Then CalPERS missed the three-year statute of…
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The United States government has deployed central planning through schemes such as the Agricultural Marketing Agreement Act of 1937. Authorized by Congress during the New Deal, the Act set up cooperative boards and conscripted growers into reserve set-asides. As we noted, in recent years the government targeted raisins in California. In 2003, Fresno raisin…
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As we noted, Big Government has been colonizing economic activity through schemes such as the Agricultural Marketing Agreement Act of 1937. This New Deal act, based on the notion that central planning works, set up cooperative boards and conscripted growers into reserve set-asides. This meant that Fresno raisin growers Marvin and Laura Horne, like…
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In a stunning decision released today, U.S. District Judge Henry E. Hudson in Richmond, Virginia, has ruled that Obama’s health-care law passed earlier this year is unconstitutional. The Obama administration now plans to appeal the case to the U. S. Supreme Court, and here is a report from Bloomberg: The Obama administration’s requirement that…
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