Archive - 2012

• $2 billion loss at JP Morgan sparks calls for regulation of high risk trading
• Bahrain security forces arrest protest leaders in night raids
• Rights recognized, indigenous leaders call for action at UN meeting
• Pennsylvania residents seek to protect public education as governor plans cuts to social services

• Ratko Mladic war crimes trial begins at The Hague
• Blockupy Frankfurt protests begin in Germany
• Obama issues sanctions against members of Yemen’s government
• India and China fight EU airline carbon restrictions
• Americans Elect Party hits snag in candidate nomination process

The revelation that JP Morgan lost at least $2 billion in the derivatives market has led to resignations of top executives and prompted federal probes of the bank’s practices. It’s also sparked calls for more regulation and oversight of the financial sector. On Capitol Hill, some lawmakers are fighting further implementation of the Dodd-Frank reforms while others say more government scrutiny of “too big to fail” institutions could prevent similar losses in the future. Reporting from Washington, FSRN’s Alice Ollstein has the details

In Bahrain, activists say security forces have arrested at least 13 pro-democracy leaders in a series of pre-dawn raids throughout the country. The Bahrain Youth Society for Human Rights said security forces stormed homes in 16 different villages early this morning. The  crackdown on dissent in the Persian Gulf island state has continued for more than a year, and just last week, the Obama Administration said it will resume a controversial deal to sell arms to the government.

At the United Nations, indigenous leaders are meeting to discuss rights, inequalities and past injustices. Despite the landmark UN Declaration on the Rights of Indigenous Peoples adopted five years ago, critics say many countries lag far behind in implementation of past recommendations. They point to ongoing abuses in indigenous communities, including in land and resource rights, cultural preservation and religious freedom. FSRN's Salim Rizvi reports.

Across the country, states are cutting social spending to cope with falling tax revenue.  In Pennsylvania, the Republican Governor’s proposed budget has outraged activists across the state. And an alternative plan approved by the state Senate last week maintains deep cuts to public services. But some are pushing a different strategy: they’re demanding the state restore spending on education and programs for the poor and close tax loopholes on wealthy corporations. FSRN’s Jaisal Noor reports.

• Court challenge to US Senate focuses on use of filibuster to block legislation
• As heat grows on JP Morgan Chase, CEO Dimon retains $23 million pay package
• Residents of Guam challenge military firing range, part of US build up on island
• Colombian miners say US free trade pact threatens livelihoods