Department of Justice

The United States Department of Justice is using federal grand jury subpoenas to identify anonymous commenters engaged in typical internet bluster and hyperbole in connection with the Silk Road prosecution. DOJ is targeting Reason.com...

Just when we thought the absurdity that marks every single day of Obama's reign could not possibly be surpassed, we learned that 4 hours (3 hours and 47 minutes to be precise) after the US president vowed to sign a new law banning bulk data collection by the NSA (named, for purely grotesque reasons, the "USA Freedom Act"), the Obama administration asked the secret Fisa surveillance court to ignore a federal court that found bulk surveillance illegal and to once again grant the National Security Agency the power to collect the phone records of millions of Americans for six months.

What happens in Vegas, stays in Vegas... apart from the water. As the following interactive chart from ProPublica shows, water usage in the greater Las Vegas region has more than doubled in the last 40 years and with the drought conditions, every reservoir is near record lows. Welcome To Las Vegas (while water supplies last).

Earleir today in confirmation that a crack down on yet another market for gross manipulation is imminent, the Post reported that the Department of Justice fresh from doing all it can do prevent Vladimir Putin from blowing $10 billion in the bottomless hole that is World Cup 2018 infrastructure spending, is probing the Treasury market for possible manipulation.

The DOJ's crackdown against FIFA in general, and the Russian World Cup of 2018 in particular, may have been just the blessing in disguise that Putin, who whether he likes it or not has been forced to hunker down in cash conservation mode, wanted.

The fact that civil asset forfeiture continues to exist across the American landscape despite outrage and considerable media attention, is as good an example as any as to how far fallen and uncivilized our so-called “society” has become. It also proves the point demonstrated in a Princeton University study that the U.S. is not a democracy, and the desires of the people have no impact on how the country is governed.

There's Always Been Some Corruption in the U.S. ... But Never Like THIS

Two years ago, bank analyst Mike Mayo asked JPM chief Jamie Dimon a simple question: why should affluent customers not pick UBS over JPM due to a mismatch in capital ratios, to which Dimon's response was even simpler: "that's why I'm richer than you." To which we then added: "No logic, no rationale: all about the bottom line, which to Jamie at least is all that matters. The bottom line was indeed all, because as Bloomberg calculated overnight, over the past several years, Jamie Dimon quietly became not just "richer than you", but "much" richer: his net worth is now well over $1 billion!

• Senate lets NSA spy program lapse, at least for now (Reuters)
• Draghi Deflation Relief Means Little With Greek Threat Unsolved (BBG)
• Tepid factory data add to Asian gloom (FT)
• Citigroup Likely to Close Banamex USA (WSJ)
• Frugality of High Earners in U.S. Shows Long Shadow of Recession (BBG)
• Greece’s Tsipras Warns Bell May Toll for Europe (BBG)
• Carnegie Mellon Reels After Uber Lures Away Researchers (WSJ)
• Romário leads drive for Brazilian probe into Fifa (FT)
• Faster than China? India's road, rail drive could lay doubts to rest (Reuters)

Ross Ulbricht, the convicted founder of Silk Road, has been sentenced to life in prison for running the underground online drug bazaar. The punishment is a heavy price to pay for the 31-year-old, who had pleaded with the judge to spare him his old age and “leave a small light at the end of the tunnel.”

Following yesterday's surprise DOJ indictment in which 14 FIFA affiliates were perp-walked out of Zurich's swankiest hotel just days ahead of Sepp Blatter's re-election, one person was quite displeased with this latest US intervention on the international arena: Russian president Vladimir Putin who accused the United States of meddling outside its jurisdiction by arresting officials from FIFA, further hinting that it was part of an attempt to take the 2018 World Cup away from his country.

Recall that back in December it was first reported that both Deutsche and Barclays "algos" were busted for FX rigging: something we alleged was taking place about 3 years ago. And now, six months later, exchanges are finally admitting that this too conspiracy theory was in reality fact, and quietly have started to clean up their game before the DOJ comes knocking. As the WSJ reports, Thomson Reuters Corp. and BATS Global Markets Inc. will limit the practice known as “last look", also known as quasi-FX spoofing, on their platforms in coming weeks "in a move aimed at increasing transparency in the foreign-exchange market.""

That FIFA has been a hotbed of corruption, shady backroom dealings and outright crime for years, has been known to anyone who has a passing interest in football. Which is why we were surprised to learn this morning that none other than the US Attorney General, seemingly content with all the wristslaps handed out to criminal US foreign banks (and subsequent SEC waivers) gave FIFA the red card in a charge detailing "rampant" corruption in international soccer hours after 14 officials were arrested on accusations of a 24-year scheme to enrich themselves through FIFA, whose office was searched in a series of dawn raids in Zurich.

Presented with little comment, aside to ask - how many 'people' went to jail for this?