Daily Digest

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Daily Digest 5/22 - Clock Running Out For Struggling Oil Companies, Your Contribution To The CA Drought

Friday, May 22, 2015, 9:45 AM

Economy

Banks Will Keep Doing FX Stuff That Got Them in Trouble (jdargis)

You might read these sentences as admissions of guilt, or disclosures of crimes, or even apologies. In context -- in the context of a disclosure notice sent to clients as part of the bank's probation for a felony conviction, one paragraph after the apology for the massive antitrust conspiracy -- that's kind of what they look like. And in the banks' plea agreements, the practices described in those bullet points are listed as "other relevant conduct" for the criminal conspiracy. So I read the bullet points as confessions yesterday, and was puzzled because, while they seem like sharp practices, they don't quite seem like crimes.

Freddie Gray death: Grand jury indicts police officers (Jason B.)

Mosby didn't take questions at the press conference and didn't go into details about what additional evidence had come to light.

The officers are scheduled to be arraigned on July 2, she said.

Frontline health workers were sidelined in $3.3bn fight against Ebola (jdargis)

As the sun rose, a crowd gathered around the bodies. No one admitted to dumping them, but members of the hospital's burial team, the 23 men tasked with carrying and cleaning Ebola-infected corpses, told local journalists that the cadavers had been displayed as a form of protest. The team had not received the €100 ($115) weekly in "hazard pay" they had been promised for nearly two months. And they were not alone. All over the country, doctors, nurses, hospital cleaners, lab technicians and burial workers were missing paychecks.

Clock Running Out For Struggling Oil Companies

Even worse is the fact that there is no certainty that oil prices will rise. Goldman Sachs just predicted that oil prices will fall once again to $45 per barrel. High levels of crude oil inventories and only a slight fall in production thus far likely mean that the glut will persist.

California governor declares state of emergency after oil slick spreads off coast (Jason B.)

"We deeply, deeply regret that this incident has occured at all," Chairman and CEO Greg L. Armstrong said at a news conference. "We apologize for the damage that it's done to the wildlife and to the environment and we're very sorry for the disruption and inconvenience that it's caused on the citizens and the visitors to this area."

Get Ready: Protesters Vow to 'Flood the System' for Climate and Planetary Justice (Michael W.)

But the real target goes far beyond any one event or body. "We need to wash away the root causes of climate change—capitalism, white supremacy, patriarchy and colonialism," reads the group's call-to-action. "These systems enable the domination of people and Earth. They place gains for the elite before the well being of our communities."

Your Contribution to the California Drought (jdargis)

The portions of foods shown here are grown in California and represent what average Americans, including non-Californians, eat in a week. We made an estimate of the amount of water it takes to grow each portion to give you a sense of your contribution to the California drought.

Iowa bird-flu farms fall short on containment measures (Jason B.)

The U.S. Department of Agriculture and state officials have established quarantine zones and mandated strict biosecurity procedures at and around farms in Iowa and other affected states. Steps include controlling access and minimizing traffic at infected farms; requiring protective clothing for workers; killing all poultry and securely disposing of carcasses, litter, feed and any other appropriate materials, including manure; and cleaning and disinfecting the affected premises, equipment and vehicles.

Gold & Silver

Click to read the PM Daily Market Commentary: 5/21/15

Provided daily by the Peak Prosperity Gold & Silver Group

Article suggestions for the Daily Digest can be sent to [email protected]. All suggestions are filtered by the Daily Digest team and preference is given to those that are in alignment with the message of the Crash Course and the "3 Es."

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Denny Johnson
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