JPMorgan Chase's $2 billion trading loss has predictably generated calls for more bank regulation. But one free-market advocate, Dan Amoss of the Daily Reckoning made this suggestion: "Here’s an idea: it’s called 'capitalism.' Take away the subsidies and bailouts for banks, along with the regulatory red tape. If they want to blow themselves up, fine — but losses would fall on the risk managers making those decisions and bank shareholders, not taxpayers or depositors…."
The trial of the five men accused of participating in the planning of the attacks of September 11, 2001 began before a military tribunal at Guantanamo Bay on May 5.
House Republicans are inching closer to issuing a contempt citation against disgraced Attorney General Eric Holder for scandals surrounding the Obama administration’s deadly weapons-trafficking operation “Fast and Furious.” But in recent days, the Department of Justice implausibly insisted that it cooperated with the congressional investigation.
Oversight Committee Chairman Darrell Issa (R-Calif.) and other Representatives, however, disagree, saying the executive branch has been engaged in a cover-up from the start. Still, no final decision has been made yet on whether or not to proceed with formal contempt charges against Holder or other senior officials.
But progress is being made — albeit, slowly. A draft resolution released publicly on Thursday has already been circulated among senior lawmakers for review. And if the administration continues to obstruct justice, further action is widely anticipated.
In typical fashion, the Federal Bureau of Investigation revealed that five self-styled left-wing anarchists arrested late Monday for allegedly trying to blow up a bridge near Cleveland were actually shepherded through every step of the supposed plot by government agents. The FBI later claimed nobody was ever in real danger because the federal government gave the alleged “terrorists” fake bombs.
The five anti-capitalist dupes — most of them in their twenties — ostensibly sought to attack the bridge in an effort to send a message and hurt the “One Percent.” Apparently they were disillusioned with the so-called “Occupy Wall Street” movement for not being violent enough in its effort to kill what little remains of the free-market system.
As a task force appointed by Gov. Rick Scott meets Tuesday to examine Florida’s “Stand Your Ground” law in the wake of the Trayvon Martin shooting, a separate panel convened by a Democrat State Senator is seeking major policy changes to address perceived problems with the popular self-defense measure. Both task forces included prosecutors, law enforcement and defense attorneys.
The announcement that Alliant Techsystems, or ATK, had been awarded a huge contract to produce up to 450 million rounds of .40 S&W caliber jacketed hollow point ammunition for the Departments of Homeland Security (HSA) and U.S. Immigration and Customs Enforcement (ICE) made gun owners nervous.
While police in Mobile, Alabama, have arrested a suspect in the beating of a white man by a group of black men, and the Mayor has asked federal authorities to investigate the attack as a hate crime, the inspiration for attack is still unclear.
The judge presiding in the case against Army Private Bradley Manning (left) has ruled that all 22 charges against him will stand, including the charge of "aiding the enemy." However, she also warned the military attorneys prosecuting the case that they must prove that Manning knew he was helping the enemy or that particular charge could be thrown out.