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.