Tag Archives: VRA

Holder Defrauds Supreme Court

By Doug Book

Eric Holder 14 SC Holder Defrauds Supreme Court

In yet another testament to the corrupt if inventive workings of the liberal mind, Attorney General Eric Holder recently decided to defraud the United States Supreme Court in the hope of preventing sections of the Voting Rights Act (VRA) being ruled unconstitutional.

Section 5 of the VRA requires 9 Southern states and a number of jurisdictions in 7 others—all charged with a history of voting rights abuses–to obtain “preclearance” from the DOJ or the District Court of DC before making any changes to state election policies or procedures. Passed into law in 1965, Section 5 was enacted as an “emergency provision” designed to “promote full access to the voting process” and expire in 5 years.

But now, nearly 5 decades later, Section 5 has become the darling of Civil Rights groups, the Civil Rights Division of the DOJ, and liberal bureaucrats throughout the federal government as it has been inexorably extended and amended into a sacrosanct behemoth that virtually guarantees  “election success for certain candidates chosen by certain racial groups.”

It was the Justice Department’s dishonest use of Section 5 that prevented the implementation of Voter ID laws in Texas and South Carolina prior to the 2012 election. In fact, Holder and the Civil Rights Division blocked both laws from taking effect even though the changes proposed by the 2 states were patterned after the Indiana Voter ID law ruled constitutional by the Supreme Court in 2009.

Of course the Department’s behavior should surprise no one, for Section 5 frankly BEGS to be misused by the Democrat Party. After all, it provides a means of accomplishing voter fraud, something that has worked to the benefit of the Party for 6 decades and more. A case in point: Mitt Romney won every state in which Voter ID laws were in effect.

But then something happened. In 2009, the Supreme Court came very close to striking down Section 5 as Justices Kennedy and Scalia lambasted that portion of the VRA, which both believed to be outdated, harmful, and quite probably unconstitutional. And though the Court wrote a VERY narrow ruling allowing Section 5 to escape unscathed in the Northwest case before it, the die had been cast, and the DOJ knew it had to take action in order to maintain its stranglehold on 9 states.

States subject to Section 5 provisions may seek an exemption from DOJ oversight in the form of a “bailout.” This involves satisfying a prescribed list of rigorous requirements in the text of the VRA itself. Once satisfied, Section 5 provisions no longer apply, and the state may initiate the change to its election law.

For years, the DOJ had deliberately made the bailout process virtually impossible to negotiate, even threatening states that dared make the attempt.  But as the Supreme Court had gone to great lengths to grant a bailout in the 2009 Northwest case, the Holder Justice Department decided that bailouts might be the key to salvaging Section 5.

As former DOJ attorney J. Christian Adams …read more
Source: FULL ARTICLE at Western Journalism

24/7 Wall St. Closing Bell — March 14, 2013: Markets Climb to New Highs Today (AMZN, EBAY, WFC, VMW, ETFC, BFAM, MW, VRA, LODE, SOL, AEO, MCP, ZUMZ, BWS, MGM, SD)

By 24/7 Wall St.

Bull and Bear figures

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U.S. equity markets opened higher this morning following a better-than-expected report on new jobless benefits claims in the U.S. and a mostly inline report on producer prices (more coverage here). In Europe, eurozone unemployment fell a bit more than expected and Spanish retail sales were not as bad as expected. In Asia, key interest rates in New Zealand and South Korea remained unchanged. The Shanghai index closed higher for the first time in six days. The DJIA closed with a tenth straight day of gains and the S&P closed within a couple of bucks of its all-time high.

The U.S. dollar index fell 0.41% today, now at 82.553. The GSCI commodity index is down 0.4% at 647.17, with commodities prices mostly higher today on the weaker dollar. WTI crude oil closed up 0.6% today, at $93.03 a barrel. Brent crude trades up 0.7% at $109.00 a barrel. Natural gas is up 3.8% today at about $3.82 per million BTUs following a relatively large draw on stocks last week (more coverage here). Gold settled up 0.1% today at $1,590.70 an ounce.

The unofficial closing bells put the DJIA up more than 82 points to 14,538.99 (0.58%), the NASDAQ rose nearly 14 points (0.43%) to 3,258.93, and the S&P 500 rose 0.56% or nearly 9 points to 1,563.20.

There were a several analyst upgrades and downgrades today, including Amazon.com Inc. (NASDAQ: AMZN) cut to ‘neutral’ at J.P. Morgan; eBay Inc. (NASDAQ: EBAY) reiterated as ‘buy’ with a price target of $65 at Argus and raised to ‘overweight’ at Evercore; Wells Fargo & Co. (NYSE: WFC) started as ‘market perform’ at BMO Capital; VMware Inc. (NYSE: VMW) raised to ‘outperform’ at William Blair and maintained on Focus List at Credit Suisse; and E*Trade Financial Corp. (NASDAQ: ETFC) cut to ‘underperform’ at KBW.

Earnings reports since markets closed last night resulted in several price moves today, including these: Bright Horizons Family Solutions Inc. (NYSE: BFAM) is up 11.2% at $33.35 after posting a post-IPO high of $33.49 earlier today; Men’s Wearhouse Inc. (NYSE: MW) is up 19% at $34.60; Vera Bradley Inc. (NASDAQ: VRA) is down 8.4% at $22.81; Comstock Mining Inc. (NYSEMKT: LODE) is down 7.1% at $1.97; and ReneSola Ltd. (NYSE: SOL) is up 1.4% at $2.17.

Before markets open tomorrow morning we are scheduled to hear from Aeropostale Inc. (NYSE: AEO), Molycorp Inc. (NYSE: MCP), Zumiez Inc. (NASDAQ: ZUMZ), and Brown Shoe Co. Inc. (NYSE: BWS).

Some standouts among heavily traded stocks today include:

MGM Resorts International Inc. (NYSE: MGM) is up 6.5% at $13.21. The casino and resort operator is a likely target for further investment by Kirk Kerkorian’s Tracinda Corp. More coverage here.

SandRidge Energy Inc. (NYSE: SD) is down 3.3% at $5.66. The energy exploration and production company caved in to demands from a large investor and it looks the company’s CEO is headed for the door. More coverage here.

E*Trade Financial Corp. (NASDAQ: ETFC) is down 8.3% at $10.84. The online financial firm got battered after its largest investor said it would …read more
Source: FULL ARTICLE at DailyFinance

24/7 Wall St. Closing Bell — March 13, 2013: Markets Hold On for Small Gains (BA, ORCL, WAG, YUM, EPB, DOLE, COOL, PPHM, EXPR, BFAM, MW, VRA, LODE, SOL, SPPI, VLO, EBAY)

By 24/7 Wall St.

Bull and Bear figures

Filed under:

U.S. equity markets opened slightly lower this morning following on some poor data on eurozone industrial production, which fell more than expected. Non-farm payrolls fell more than expected in France and the country’s CPI rose less than analysts had forecast. There was no data out of Asia this morning, but there are worries that China will tighten lending requirements for home purchases as the country tries to cool off the real estate market. In the U.S., retail sales came in better than expected (more coverage here), but new applications for mortgages fell as interest rates rose (more coverage here). The Business Roundtable released its economic outlook for spring, which suggests that sales and capital spending will rise, but hiring will remain slow (more coverage here).

The U.S. dollar index rose 0.34% today, now at 82.865. The GSCI commodity index is up 0.1% at 649.62, with commodities prices mostly lower today. WTI crude oil closed down fractionally today, at $92.52 a barrel, following the release of the EIA’s inventory report (more coverage here). Brent crude trades down 1.2% at $108.40 a barrel. Natural gas is up 1% today at about $3.68 per million BTUs. Gold settled down 0.2% today at $1,588.40 an ounce, largely due to the stronger dollar.

The unofficial closing bells put the DJIA up more than 5 points to 14,455.28 (0.04%), the NASDAQ rose nearly 3 points (0.09%) to 3,245.12, and the S&P 500 rose 0.13% or about 2 points to 1,554.52.

There were a several analyst upgrades and downgrades today, including Boeing Co. (NYSE: BA) reiterated as ‘buy’ with a price target of $100 at BofA/Merrill Lynch; Oracle Corp. (NASDAQ: ORCL) raised to ‘buy’ at Canaccord Genuity; Walgreen Co. (NYSE: WAG) raised to ‘buy’ at UBS; Yum! Brands Inc. (NYSE: YUM) maintained as ‘outperform’ and price target raised to $70 at Credit Suisse; and El Paso Pipeline Partners LP (NYSE: EPB) cut to ‘neutral’ and price target raised to $44 at Credit Suisse (more coverage of MLP ratings here).

Earnings reports since markets closed last night resulted in several price moves today, including these: Dole Food Company Inc. (NYSE: DOLE) is down 8.8% at $10.70; Majesco Entertainment Co. (NASDAQ: COOL) is down 16.3% at $0.60; Peregrine Pharmaceuticals Inc. (NASDAQ: PPHM) is down 8.2% at $1.45; and Express Inc. (NYSE: EXPR) is down 2.7% at $18.35 (more coverage here).

Before markets open tomorrow morning we are scheduled to hear from Bright Horizons Family Solutions Inc. (NYSE: BFAM), Men’s Wearhouse Inc. (NYSE: MW), Vera Bradley Inc. (NASDAQ: VRA), Comstock Mining Inc. (NYSEMKT: LODE), and ReneSola Ltd. (NYSE: SOL).

Some standouts among heavily traded stocks today include:

Spectrum Pharmaceuticals Inc. (NASDAQ: SPPI) is down 37.6% at $7.76 after posting a new 52-week low of $7.73 earlier today. The drugmaker lowered full-year guidance today by 40%, and the shorts had a field day.

Valero Energy Corp. (NYSE: VLO) is down 4.4% at $43.53. The oil refiner received an analyst downgrade today linked to the rising cost of renewable fuel credits.

eBay Inc. (NASDAQ: EBAY) is down …read more
Source: FULL ARTICLE at DailyFinance