When the New York Times reported that the losses resulting from the failed trade made by JP Morgan Chase (JPM) earlier this year could reach $9 billion instead of the $2 billion initially reported, some said it didn’t matter while others called for more regulations. Few considered that such trades, and consequent losses, were inevitable and would likely continue because of the implied taxpayer backstop.
On Monday the Supreme Court issued its ruling on the constitutional challenge filed against the Arizona immigration statute. In the decision, one of the four provisions at issue was upheld, while the remaining three were struck down.
Republican voters in Utah Tuesday handed six-term Senator Orrin Hatch another victory that will more likely than not put him pack in Washington until 2018 when the self-described “tough old bird” will be 84 years old. His primary opponent Dan Liljenquist, a former state senator and Bain Capital manager, didn’t even manage to capture his home county’s vote in Tuesday’s GOP primary.
The attorney for accused document leaker former U.S. Army Private Bradley Manning won a pretrial motion for full discovery of exculpatory evidence in military court June 25, according to various news sources.
The man whose wife fell victim to the Chinese government’s strict one-child policy has gone missing after he posted photographs online of his wife and their aborted baby. Government officials had forcibly aborted the late-term pregnancy earlier this month, prompting an international outcry and, consequently, leading to the suspension of three officials in the Shaanxi province.
On Monday, President Obama approved the loan of nearly $126 million to the communist regime in Vietnam to purchase a satellite from Lockheed Martin. In his memorandum to the Secretary of State to authorizing the loan, President Obama insists that making the loan was “in the national interest of the United States.”
Watching the television pundits fret over campaign finance is amusing, because the solution to their problem is right under their noses. They just don’t want to see it. As long as government has the power to sell privileges, people will spend big bucks to influence elections. The wealthy and well connected will always have better access to government than regular people.
As the kites in Ocean City, New Jersey, became airborne, protesters on the boardwalk waved American flags and told the pro-wind crowd to go fly a kite while unfurling banners with slogans such as “Global Wind Power, Another Wacko Idea.”
Politicians seem to have a special fondness for words that have two very different meanings, so we are likely to hear a lot of these kinds of words this election year. "Access" is one of those words. Politicians seem to be forever coming to the rescue of people who have been denied "access" to credit, college or whatever.
Following the three-year anniversary on which the U.S. House passed a national cap-and-trade system that would have limited greenhouse gas emissions, a federal appeals court ruled Tuesday that the Environmental Protection Agency (EPA) is “unambiguously correct” in its legal rationale behind regulating greenhouse gases.