This will get approximately no attention today, but a federal court in Australia ruled that Standard and Poor’s, the credit rating agency, lied to investors when they awarded their highest, triple-A rating to derivative securities that lost their value within two years of purchase. The court ruled for a series of local councils in Australia, which accused S&P of botching the credit ratings and duping them into purchasing the securities.
|By: David Dayen Monday November 5, 2012 3:19 pm|
|By: David Dayen Thursday November 1, 2012 5:58 am|
JPMorgan Chase has sued the former manager of Bruno Iskil, the “London Whale” who executed the “Fail Whale trades” that cost the company as much as $7 billion. Javier Martin-Artajo was the direct supervisor to Iskil in the Chief Investment Office in London.
|By: David Dayen Thursday October 18, 2012 12:00 pm|
A three-judge panel of the Second Circuit Court of Appeals has struck down the Defense of Marriage Act, upholding lower-court rulings that found the law, which discriminates against the marriage rights of gays and lesbians, unconstitutional. The author of the opinion, Dennis Jacobs, is a very conservative George H.W. Bush appointee. But even he had to acknowledge the nature of the case, ruling that discrimination of LGBT individuals deserves heightened scrutiny, and that therefore a federal law which discriminates against them must be treated skeptically.
|By: David Dayen Tuesday October 16, 2012 3:00 pm|
In a significant ruling today, a federal appeals court overturned a conviction of Salim Hamdan, Osama bin Laden’s driver, obtained through a military commission. Judge Brett Kavanaugh, a George W. Bush appointee seen as a possible conservative Supreme Court justice, wrote in a ruling for a three-judge panel of the DC Circuit Court that Hamdan could not be convicted under a military commission for “material support” for terrorist organizations before 2006, when the military commission process was inaugurated.
|By: David Dayen Tuesday October 16, 2012 2:15 pm|
The Supreme Court will not step in to block early voting hours in Ohio, delivering a win to voting rights advocates and the Obama campaign, which needs the help as polling starts to turn away from them.
|By: David Dayen Monday October 8, 2012 1:35 pm|
The financial fraud task force can file civil suits for the next 10 years, and they still won’t understand how this will not satisfy homeowners who had everything they’ve ever worked for taken away from them, and who see no complementary losses on the side of those who caused this tragedy in their lives.
|By: David Dayen Wednesday September 26, 2012 12:50 pm|
The Commonwealth judge asked to further scrutinize the voter ID law in Pennsylvania to determine whether eligible voters can obtain IDs just dropped a huge hint about his expected ruling in the case. Yesterday, the judge, Robert Simpson, asked both counsels what an injunction of the law should look like. This ought to be seen as a precursor to blocking at least some of the law.
|By: David Dayen Tuesday September 25, 2012 10:24 am|
We can now say with some degree of certainty that foreclosure mitigation plans, as conceived for the crisis years, didn’t work. All we have to do is look at the money allocated for the programs relative to the money paid out.
|By: David Dayen Saturday September 15, 2012 9:00 am|
Don’t expect yesterday’s Dane County court ruling overturning sections of Wisconsin’s anti-union law to remain operative for long.
|By: David Dayen Friday September 14, 2012 12:45 pm|
Scott Lemieux has a good piece in The American Prospect about the federal court ruling blocking the indefinite detention provisions of last year’s National Defense Authorization Act (NDAA). While Lemieux expressed a lack of confidence that the injunction would be upheld by the appeals courts, he praised the action because of the potential for abuse.