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Fatster’s Roundup

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International Developments

? “Afghan judges free three jailed for torture of child bride [12-year-old] Sahar Gul” who was imprisoned, starved and burned.

? Almost overnight, “Gas lines have disappeared, power cuts have stopped and the police have returned to the street” in Egypt.   “Sudden Improvements in Egypt Suggest a Campaign to Undermine Morsi.”  Update:  “Morsi loyalists vow to keep up ‘peaceful’ protest.”

? “Burma jails 25 Buddhists for mob killings of 36 Muslims in Meikhtila”.

? The pilot of the Asiana plane that crashed upon landing at San Francisco International Airport last week was “temporarily blinded” by a bright flash of light “seconds before” the accident.

? “The operator of the runaway train that derailed and exploded in Lac-Mégantic, Quebec, this weekend recorded an accident rate far higher than the U.S. average over the past 10 years.”  Officials continue investigations. The conductor is “under police control.”

? From the New England Journal of Medicine:  Guantanamo Bay: A Medical Ethics-free Zone?”

? Khalid Sheikh Mohammed, 9/11 mastermind and notorious waterboarding survivor, wanted to design a vacuum cleaner while in prison.

International Finance

? As this week’s US-EU trade talks wind down, consumer groups are fearful that “government will be . . . rushing to help corporations cash in on billions of dollars in new business.”

Money Matters USA

? Sen. Elizabeth Warren (D-MA) asked officials from the Federal Reserve, Treasury, FDIC and Office of the Comptroller of the Currency today at a Senate Banking Committee Hearing why they “had sought settlements with many of Wall Street’s bad actors instead of taking those firms to trial.”

? Why relying on Econ 101 “in a complex, global and technologically driven economy in which nation-states compete” economically “is like a physicist today relying on Newton.”

? Upon being assured by Big Daddy Bernanke that “stimulus measures [will continue] for the foreseeable future”, stocks soared to “near session highs”.

? The US ran a $117bn surplus in June.

? The Treasury Department’s Financial Stability Oversight Council has put AIG and General Electric Capital Corporation (GECC) under “consolidated supervision and enhanced prudential standards . . . by the Board of Governors of the Federal Reserve”.

? Charles Koch is all against the minimum wage since it “reduces the mobility of labor.”  Uhhhhhh, wtf? [cont’d.]

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Dan Wright

Dan Wright

Daniel Wright is a longtime blogger and currently writes for Shadowproof. He lives in New Jersey, by choice.