Elementary concepts of fairness demand that musical artists and performers remain free to negotiate…
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Congress Should Oppose the So-Called "Local Radio Freedom Act"

Elementary concepts of fairness demand that musical artists and performers remain free to negotiate performance rights with broadcasters that seek to play their songs.  Indeed, current law allows artists to mutually bargain with satellite, Internet and cable stations.

The only exception:  traditional AM-FM radio stations, which are unfairly protected by federal law from having to negotiate with artists for performance rights.  This is precisely the sort of crony capitalism against which the American electorate is increasingly irate.

Unfortunately, rather than advocating market reform, some in Congress wish to cement the current protectionist status quo.  Under the so-called "Local Radio Freedom Act," whose very name contradicts its real-world effect, terrestrial radio's unjustifiable…[more]

July 28, 2015 • 03:51 pm

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CFIF Files Amicus Brief Against Treasury Department’s Illegal Seizure of All Fannie Mae/Freddie Mac Net Profits Print E-mail
Tuesday, July 07 2015

The Center for Individual Freedom yesterday filed an amicus brief in the United States Court of Appeals for the District of Columbia Circuit in the case of Perry Capital LLC v. Lew.

The brief, authored by Myron T. Steele, the former Chief Justice of the Delaware Supreme Court and now a partner at the Delaware law firm of Potter Anderson & Corroon LLP, was filed in support of private stockholders of Fannie Mae and Freddie Mac who effectively lost all value in their shares when the government opted for a conservatorship that granted the Treasury Department senior preferred stock status that allows for a “Net Worth Sweep” of the corporations’ net profits in perpetuity.

The brief demonstrates that “[t]he ‘Net Worth Sweep’ is unenforceable and void ab initio under Section 151 of the Delaware General Corporation Law.”  In addition to discussing how the Net Worth Sweep is invalid, the brief reminds the court of protections under Delaware law that preclude preferred stockholders from obtaining a perpetual claim on all the residual earnings of the companies to the exclusion of common stockholders.

The amicus brief can be found here (PDF).

 


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Which one of the following Obama Administration officials stated in April 2015 that under the nuclear deal with Iran, “you will have anywhere, any time 24/7 access as it relates to the nuclear facilities that Iran has”?
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"A federal judge Wednesday rebuked the Obama administration's IRS for refusing to divulge documents, including Lois G. Lerner's emails, and warned that he would hold in contempt those who break his orders.Judge Emmet G. Sullivan called the administration's defense 'nonsensical' and said the IRS must release documents every Monday to Judicial Watch, a conservative public interest law firm that requested…[more]
 
 
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