Challenging Federal Agencies' Power in Court-Like Proceedings

The US Supreme Court heard the case of Securities and Exchange Commission v. Jarcacy, which questions the broad power of federal agencies to conduct their own court-like legal proceedings and delay access to federal courts. The case highlights the constitutional basis for allowing federal agencies to adjudicate cases against regulated parties, even when the agencies are parties themselves. The podcast touches upon the example of Mr. Jarcacy, an investment advisor charged with violating regulations on guarantees and selling his system as more foolproof than it was. It discusses the benefits and drawbacks of agencies conducting in-house proceedings, including their high win rate in comparison to traditional courts. It also emphasizes the importance of independent judges and juries in guaranteeing fairness.