Kaufman Questions Sotomayor, Implores Court Not To Chip Away At Impending Financial Regulation
On the third day of the Supreme Court Nomination Hearing, Sen. Ted Kaufman (D-DE) presented a subject not yet broached during the week: Judge Sotomayor's career as a commercial litigator and her experience as a judge in business cases, such as securities law and antitrust.
Sen. Kaufman's line of questioning focused on the current Court's recent treatment of business cases and on Judge Sotomayor's judicial approach. Kaufman has expressed concern that in such rulings the Court "too often seems to disregard settled law and congressional policy choices," and may undermine future financial regulatory reforms enacted by Congress.
"In light of our economic crisis, Congress...will definitely pass a financial regulatory reform package," Sen. Kaufman said. "And I'd just like to make sure that the system is not undermined by the Court, just because they have a different view of what government regulation is all about."
"When Congress passes a law," Sen. Kaufman asked, "Whether the judge thinks it's a good law or a bad law - the wisdom in passing it - what role does that play in the law?"
"Policy making - making of laws - is up to Congress," Judge Sotomayor responded. "A judge's personal views as to whether that choice is good or bad has no role in evaluating Congress' choice. The question for us is always a different one, which is what has Congress done, is it constitutional in the manner in which it's done it. But policy choices are Congress' choices. In all areas, deference has to be given to that choice."
Sen. Kaufman also invited Judge Sotomayor to discuss how her extensive experience with securities cases - both on the district and circuit court - will be of value if confirmed to the Supreme Court.
"We deal with every variant of securities law as one could imagine from investment questions to misleading statements to investors to all - whatever Congress has regulated, our circuit will have a case on it," said Judge Sotomayor, who currently serves on the 2nd Circuit Court of Appeals in New York.