Credit Card Crackdown Imminent, Or Not! Probably Not.

  • President Obama will meet with credit card lenders and "press for reforms," which is to say, ask them to quit being dicks and then they will say "Nah sorry," and then the president will say, "At this difficult time, we need to be looking forward, not backward." [UPI]
  • The big question on torture, apparently, is not whether it is moral and in accordance with our national values; the question is whether it works. [New York Times]
  • Freddie Mac is under a federal criminal investigation to see if the lender failed to warn about the risks associated with mortgage-related investments. The acting CFO of Freddie Mac just committed suicide. Coincidence? [Washington Post]
  • Sorry, iPhone users, no more practicing child abuse on your phone. [Wall Street Journal]
  • A suicide bomber struck in Baghdad, killing at least 28 people and wounding 50. We can probably expect more of this as the year goes on. [Reuters]
  • Italy would like to move the summer G8 summit from a pleasant Mediterranean island to an earthquake-damaged city of rubble. [BBC News]

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