I very much enjoyed Michael Greve’s discussion of the Chenery case. As I am also a teacher of Administrative Law, having taught it for 20 years (and having the distinction of taking it over at USD from Administrative Law founder Ken Davis), I was pleased to learn some new details about that old chestnut, the Chenery case. Yes, as Michael mentions, the SEC behaved as a lawless bureaucracy — but all for the public good, no doubt. And yes, as Michael mentions, the courts have constrained the SEC and other agencies a bit as to their lawlessness, including through administrative common law (I am less ok with this than Michael is).
But the best part of the post is the information that the Chenery who was harmed by the SEC turned out to be the original owner of Secretariat. That kindly old man in the movie Secretariat, played by Scott Glenn, was screwed by the same nice bunch of guys who treated Preston Tucker so well in the movie about him. Its fun to get your history from Hollywood.