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http://www.truth-out.org/news/item/35844-scalia-s-dead-hand-grips-systemic-risk-regulators
"Before MetLife Inc.'s court victory in late March fades from memory, it's important to grasp the significance of what just happened: A US district judge relied on a Supreme Court opinion written last term by deceased Supreme Court Justice Antonin Scalia and raised by MetLife's chief outside counsel Eugene Scalia -- Antonin's son -- to ward off a "systemic risk" designation by the Obama administration's Financial Stability Oversight Council.
The victory by MetLife -- the nation's largest life insurer -- opens the door to similar challenges from AIG, GE Capital and Prudential, which were all previously designated as "systemically important financial institutions," or SIFIs, by the oversight council. The 2010 Dodd-Frank Act authorized the council to supervise such companies if they "could pose a threat to the financial stability of the United States."
According to a ruling by US District Judge Rosemary M. Collyer, the oversight council -- 15 top officials who include the US secretary of treasury, the chairman of the Federal Reserve, the comptroller of the currency and the chairs of the Securities and Exchange Commission and the Federal Deposit Insurance Company -- doesn't have a clue about assessing future financial crises..."