An Associated Press article in February confirmed a purchase order by the Department of Homeland Security for 1.6 billion rounds of ammunition. That’s enough to sustain an Iraq-sized war for over twenty years. Someone in government seems to expect some serious civil unrest. Why?
Journalist Robert Kaiser has written a case study of the passage of Dodd-Frank, the legislation that kind of sort of took a shot at maybe re-regulating Wall Street (but not really). He tells Judy Woodruff, “It was upsetting to me as a citizen to realize how few members understood the issues they were dealing with.”
With taxpayer bailouts no longer an option, a major derivatives crisis could transfer money currently held by state and local governments and citizens—secured and unsecured, insured and uninsured—into the hands of derivative claimants.
The House Financial Services Committee has voted to repeal a provision in last year’s Dodd-Frank financial reform law requiring public corporations to report the ratio between CEO and median worker pay. (more)