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Saturday, Jul 12th

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JPMorgan Chase Gets $14 Billion Per Year In Government Subsidy

JPMorgan CEO Jamie DimonAt least some of the billions of dollars that JPMorgan Chase lost gambling on credit derivatives once belonged to you.

Outraged by Merkley’s impunity, Dimon roared that his bank only took the government’s lousy bailout money and only borrowed at rock-bottom interest rates from the Federal Reserve because the government insisted that it do so, for the sake of appearances and the good of the country. And JPMorgan is the country’s greatest hero, so it had no choice but to accept all of this free money the government was handing out. It certainly did not need it.

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Bill would require federal mountaintop removal health study

mountain top miningNew or expanded mountaintop removal permits would be blocked until the federal government concludes the mining technique is not contributing to increased risks of cancer, birth defects and other health problems among coalfield residents, under legislation proposed in Congress this week.

The bill aims to examine more closely the findings of a series of West Virginia University studies that found residents living near mountaintop removal sites face greater health risks than those who don't.

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Senate defeats proposal to trim food stamp program

Food stampsThe Senate on Tuesday began plowing through 73 amendments to a $500 billion bill that will set farm policy and fund the food stamp program over the next five years. One of its first votes was to reject a proposal to trim food stamp spending.

The farm bill, one of the last major pieces of legislation that could clear Congress before the election, carries out major changes to the federal safety net for farmers, replacing their direct payments, even when they don't plant crops, with greater emphasis on crop insurance and a new program to protect farmers from revenue losses.

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CIA releases declassified documents from 9/11 file

CIA documentsThe declassified documents, dated between 1992 and 2004, are heavily blacked out and offer little new information about what the U.S. knew about the al-Qaida plot before 2001. Many of the files are cited in the 9/11 Commission report, published in 2004.

The commission determined the failure that led to 9/11 was a lack of imagination, and U.S. intelligence agencies did not connect the dots that could have prevented the attacks.

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Officials: ‘Flame’ computer virus created by Israel, U.S. to slow Iran

Flame virusThe United States and Israel jointly developed a sophisticated computer virus nicknamed Flame that collected critical intelligence in preparation for cyber-sabotage attacks aimed at slowing Iran’s ability to develop a nuclear weapon, according to Western officials with knowledge of the effort.

The massive piece of malware was designed to secretly map Iran’s computer networks and monitor the computers of Iranian officials, sending back a steady stream of intelligence used to enable an ongoing cyberwarfare campaign, according to the officials.

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New findings could rewrite scientists' model of how universe hangs together

Super collider discoveryThe reigning theory of particle physics may be flawed, according to new evidence that a subatomic particle decays in a certain way more often than it should, scientists announced.

This theory, called the Standard Model, is the best handbook scientists have to describe the tiny bits of matter that make up the universe. But many physicists suspect the Standard Model has some holes in it, and findings like this may point to where those holes are hiding.

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Lutherans Call for Fracking Moratorium

FrackingLess than a week after Pennsylvania farmers called for a moratorium on unconventional gas extraction, a large gathering of Pennsylvania Lutherans has also formally passed a resolution calling for a statewide halt on shale gas drilling.

While the tri-state Susquehanna River Basin Commission has taken no action to slow, stop, or even significantly regulate high-volume horizontal hydraulic fracturing, this Lutheran Synod, based entirely in the heavily fracked Susquehanna River Basin, now stands for a moratorium.

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Nuns start bus tour protesting GOP budget proposals amid Vatican criticism of social activism

Nuns bus tourA group of Roman Catholic nuns began a nine-state bus tour protesting proposed federal budget cuts Monday, saying they weren’t trying to flout recent Vatican criticisms of socially active nuns but felt called to show how Republican policies are affecting low-income families.

The tour was organized by Network, a Washington-based Catholic social justice group criticized in a recent Vatican report that said some organizations led by nuns have focused too much on economic injustice while failing to promote the church’s teachings on abortion and same-sex marriage. The Vatican asked U.S. bishops to look at Network’s ties to another group of nuns it is reorganizing because of what the church calls “serious doctrinal problems.”

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Defense contractor KBR is being sued by Oregon National Guard members

KBRDefense contractor KBR is being sued by Oregon National Guard members who say they were exposed to a carcinogenic chemical in Iraq, attorneys said.

The most contentious motion to be argued at hearings this week in U.S. District Court in Portland, Ore., concerns allegations KBR deliberately concealed knowledge sodium dichromate was present at the Qarmat Ali, Iraq, water treatment plant it was contracted to repair. Members of the Oregon National Guard, on duty in Iraq, were assigned in 2003 to guard the plant during repairs, and have allegedly suffered health problems from exposure to the chemical, The Portland Oregonian reported Monday.

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