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The Daily Beat is a daily news podcast inspired by the power of social media to spark social change. Tune in Monday through Friday at 7 p.m. as BTR’s social media director, DJ Jen, culls the “Twitterverse” and “blogosphere” to bring you the top stories regarding social justice and human rights issues.
Not to mention, we’ll also feature some of BTR’s top tracks.
Don’t miss a beat!
Yesterday The Raw Story published an article titled “U.S. prosecutors accuse two JPMorgan bankers of ‘creatively cooking books.’”
The article’s author Jill Treanor writes:
A breakdown in culture led to JP Morgan racking up $6bn loses in the “London Whale” trading scandal, US prosecutors claimed Wednesday as they filed criminal charges against two of its bankers.
Referring to JP Morgan boss Jamie Dimon’s initial dismissal of the potential losses, Preet Bharara, New York attorney general, said: “This was not a ‘tempest in a teapot’, but rather a perfect storm of individual misconduct and inadequate internal controls.”
Setting out the state’s case at a press conference, Bharara said: “You worry that there is not a good culture at a lot of these places and it does matter.”
Javier Martin-Artajo and Julien Grout were charged in the southern district court of New York with four counts of falsification of books, wire fraud and making false statements to the US regulator, the Securities and Exchange Commission.
Today Reuters published an article titled “Ex-bosses at JPMorgan unlikely to face charges in ‘Whale’ scandal.”
The article reads:
The JPMorgan Chase & Co executives who supervised the traders at the center of the “London Whale” scandal are unlikely to face any charges over a trading debacle that cost the largest U.S. bank more than $6.2 billion, people familiar with the probe said.
Federal prosecutors on Wednesday brought criminal charges against two former JPMorgan traders – Javier Martin-Artajo and Julien Grout – accusing the pair of deliberately understating losses on the trades on JPMorgan’s books.
The complaints make only passing reference to their former bosses. Neither Ina Drew, the bank’s former chief investment officer, nor Achilles Macris, a former top Chief Investment Office executive, are mentioned by name in the complaints filed in New York.
Today Think Progress published an article titled “Congressman Doesn’t Believe White Collar Crime On Wall Street Exists.”
The article’s authors Alan Pyke and Scott Keyes write:
There’s no such thing as financial crime, according to Rep. Tom McClintock (R-CA).
At a town hall meeting in El Dorado Hills, California on Tuesday, a constituent asked McClintock for his “stance on Wall Street criminal practices.” The congressman responded, “Well first of all, for a criminal practice there has to be a gun. It’s pretty simple.”
Today The New York Times published an article titled “In Rebuke to Egypt, Obama Cancels Joint Military Exercises.”
The article’s author Mark Landler writes:
President Obama, deploring the military-led Egyptian government’s deadly crackdown on Muslim Brotherhood protesters there, said on Thursday that the United States would pull out of scheduled joint military exercises with the Egyptian army in the Sinai Peninsula.
“While we want to sustain our relationship with Egypt, our traditional cooperation cannot continue as usual while civilians are being killed in the streets,” Mr. Obama said in remarks delivered from his rented vacation home on Martha’s Vineyard.
“The Egyptian people deserve better than what we’ve seen over the past several days,” the president said, adding that the “cycle of violence and escalation needs to stop.”
Today The AFP published an article titled “Egypt Islamists on the offensive after crackdown.”
The article reads:
Wednesday’s violence was Egypt’s worst in decades, exceeding even that seen during the 18-day uprising that ousted president Hosni Mubarak in 2011.
While the health ministry put the toll at 525, the Brotherhood spoke of 2,200 dead overall and more than 10,000 wounded.
The killing prompted interim vice president and Nobel laureate Mohamed ElBaradei to resign, saying he was troubled over the loss of life, “particularly as I believe it could have been avoided”.
Despite the condemnation from abroad, Egyptian interim prime minister Hazem al-Beblawi praised the police for their “self-restraint” and said the government remained committed to an army-drafted roadmap calling for elections in 2014.
Yesterday AFP published an article titled “Spoon in underwear saving youths from forced marriage.”
The article reads:
As Britain puts airport staff on alert to spot potential victims of forced marriage, one campaigning group says the trick of putting a spoon in their underwear has saved some youngsters from a forced union in their South Asian ancestral homelands.
The concealed spoon sets off the metal detector at the airport in Britain and the teenagers can be taken away from their parents to be searched — a last chance to escape a largely hidden practice wrecking the lives of unknown thousands of British youths.
The British school summer holidays, now well under way, mark a peak in reports of young people — typically girls aged 15 and 16 — being taken abroad on “holiday”, for a marriage without consent, the government says.
Today The Associated Press published an article titled “SKorea proposes reunion of war-separated families.”
The article reads:
South Korea’s president proposed Thursday that the two Koreas hold a reunion next month of families still separated 60 years after the Korean War, another sign of easing tensions after a spring that saw the neighbors threatening war. The proposal came a day after the rivals moved toward reopening a jointly run factory park closed since April.
Family reunions were one of the major inter-Korean cooperation projects between a summit of the two Koreas’ leaders in 2000 and the return of tensions in 2010. About 22,000 Koreans were able to meet with loved ones in that time.
IN OTHER NEWS
Yesterday The Associated Press published an article titled “Largest Lutheran group elects 1st female leader.”
The article reads:
The nation’s largest Lutheran group elected its first woman as presiding bishop on Wednesday.
The Rev. Elizabeth Eaton was chosen as head of the liberal-leaning Evangelical Lutheran Church in America during its national legislative meeting in Pittsburgh. Eaton won on the fifth ballot with 600 votes, defeating the incumbent, the Rev. Mark Hanson, who is finishing his second six-year term. Hanson received 287 votes.
Yesterday Think Progress published an article titled “NYC Comptroller Calls For Legalizing Marijuana For $400 Million Annual Revenue.”
The article’s author Nicole Flatow writes:
The New York City Comptroller’s office is recommending marijuana legalization, finding that taxing and regulating the substance would generate revenue of $400 million annually and have even more significant social justice benefits.
“Regulating marijuana would keep thousands of New Yorkers out of the criminal justice system, offer relief to those suffering from a wide range of painful medical conditions, and make our streets safer by sapping the dangerous underground market that targets our children. As if that weren’t enough, it would also boost our bottom line,” said Comptroller John Liu.
Today The Associated Press published an article titled “Vote to legalize alcohol on SD’s Pine Ridge passes.”
The article’s author Carson Walker writes:
Native Americans on the Pine Ridge Indian Reservation — home to some of the highest rates of unemployment, domestic abuse and suicide in Indian Country — have voted to end prohibition and legalize alcohol so the tribe can use the profits for education and treatment.
A majority of voters on Tuesday approved the measure, but the outcome was left hanging because of 438 challenged ballots that were more than the difference between the yes and no votes.
Joe Virgillito chats with Prof. Gerald Friedman about COVID-19 and the case for Medicare For All. J. McVay and Jacqueline Soller discuss 2011 movie, ‘Contagion.’ Plus a preview of Scoville Unit’s upcoming BTR Live Studio session. | listen