Europol: Police need powers to tackle virtual money laundering

“The head of the European Union’s policing agency warned on Monday that virtual currencies such as Bitcoin were being used for money laundering and called for police to be given more powers to identify criminal suspects operating on the Internet. ‘We’re seeing that virtual currencies are being used as an instrument to facilitate crime, particularly in regard to the laundering of illicit profits,’ said Europol head Rob Wainwright, speaking on the margins of a nuclear security conference in The Hague. Wainwright said police should be given new powers to allow them to identify anonymous participants online and bring them to justice.” Continue reading

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UK financial official: Monetize state debt when deflation risks persist

“There is no need for central banks’ balance sheets to shrink. They could stay permanently larger; and, for some countries, permanently bigger central-bank balance sheets will help reduce public-debt burdens. Even when permanent monetization occurs — as it almost certainly will in Japan and possibly elsewhere — it may remain forever the policy that dare not speak its name. Such reticence may serve a useful purpose. But it must not blind central banks and governments to the full range of policy tools available to address today’s severe debt overhangs.” Continue reading

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Maryland Marijuana Nullification Continues

Maryland isn’t only about crab cakes and football; it’s about nullification, too. Maryland’s House of Delegates overwhelmingly passed HB 1321, a bill that would nullify some federal drug laws and legalize the use of marijuana for medical purposes. The bill allows those with debilitating medical conditions such as HIV, glaucoma, cancer, PTSD, and other disorders…

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Appeals court upholds Fed’s 21-cent cap on retailer ‘swipe fees’

“A Federal Reserve rule allowing banks to charge retailers 21 cents to process debit-card transactions has been upheld by a federal appeals panel, a blow to big merchants such as Wal-Mart Stores Inc. and Target Corp. The dispute stems from a Dodd-Frank provision that required the Fed to set the so-called interchange fees, known colloquially as swipe fees, at a level reflecting the actual processing costs. The Fed’s staff recommended cutting the fee from 44 cents per transaction on average to just 12 cents. But after heated protests from the financial industry, the Fed in June 2011 set a cap of 21 cents per transaction.” Continue reading

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Connecticut Legislature Taking Closer Look at Common Core

On February 11, 2014, The Connecticut House of Representatives Education Committee introduced HB 5078, “An Act Imposing a Moratorium on the Implementation of the Common Core State Standards.” On March 12, a public hearing on the issue packed a House committee chamber. The bill is co-sponsored by 18 Republican members of the House and seeks…

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