Is the Export-Import Bank “corporate welfare” or “critical support” for American businesses? According to Barack Obama, it’s both.

Back in 2008, then-Sen. Obama denounced the Ex-Im Bank as a government program that should be “cut back” because it had “become little more than a fund for corporate welfare.” But just last week President Obama signed a bill not only extending the bank’s charter for two more years but also increasing the amount of money it can loan by 40 percent.

The tobacco industry has spent $47 million to defeat California’s Proposition 29, which would enact a new $1-a-pack cigarette tax, and its ad campaign is having a significant impact. 

The bankruptcy trustee in charge of liquidating MF Global issued a report today that there "may be valid claims" against CEO Jon Corzine.

Reports out of Pakistan indicate that missiles fired from American drones killed over a dozen people in that country on Monday, bringing the three-day total of Pakistanis killed by lethal drone strike to 27.

Monday’s attack was reportedly aimed at a “militant hideout” in Hesokhel, a village located in the North Waziristan region.

South Waziristan was abuzz with drones over the weekend as U.S. controlled drones are believed to have launched four Hellfire missiles that killed nine men branded as militants living in a village near Wacha Dana. A statement made to CNN by a local government official confirmed the body count.

The federal government informed an appeals court on Thursday that it has the right and the power to place GPS tracking devices on the privately owned vehicles of citizens without obtaining a warrant. This is in open rebellion to a Supreme Court decision from January that held that such warrantless installation of tracking devices on cars was unconstitutional.

 

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