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Friday, July 19, 2013

Cheat Sheet - From Frat House to Jail: Student Heads to Prison After Election Fraud

Today: No Deal After Egypt Coup , Alexei Navalny Threatens Russia's Corrupt Status Quo , Banks in Washington Crosshairs
Cheat Sheet: Morning

July 19, 2013
THE COLLEGE TRY

Matthew Weaver, a junior at California State University, San Marcos, was dying to win the title of student president, so he rigged the vote. Then he was caught. Eliza Shapiro on why the 22-year-old business major will be spending the next year in prison.

Chaos

Over two weeks after the Egyptian military's overthrow of the government of President Mohamed Morsi, there is still no sign of a deal between the generals and leaders of the Muslim Brotherhood, the movement Morsi led. Morsi's supporters are demanding his release as a precondition for talks, leading to a stall in the process. Morsi and other senior officials have been held since the coup without being allowed to communicate with supporters. Intermediaries believe the Muslim Brotherhood is under the illusion that Morsi will be reinstated, and that their persistence could lead to their being frozen out of a future government, likely bringing on violent protests.

WAKING UP RUSSIA

Russian dissident Alexei Navalny was released Friday when an appeals court ruled that his conviction for embezzlement denied him his right to participate in the Moscow mayoral campaign. The Kremlin may have released him for now, but there are a thousand other ways to destroy the activist who breaks every unwritten rule of Russian apathy toward dictatorship and everyday corruption. By Peter Pomerantsev.

New Rules

The country's biggest banks are facing intensifying efforts to insulate them against causing another economic meltdown, including a new rule proposed by regulators that would require banks to build up more capital as insurance against a future crisis. Treasury secretary Jacob Lew issued an ultimatum to banks calling for the swift adoption of new rules passed in 2010's Dodd-Frank bill, saying the government has still not ended "too big to fail," and that he would be open to further action if necessary. Banks predictably argued that the new oversight efforts would restrict their competitiveness, an argument increasingly falling on deaf ears in Washington. The reason: the six largest banks posted profits of $23 billion in the second quarter, undercutting their insistence that their competitiveness is in danger.

Finally Broke

Times are tough in Motor City. In the largest municipal bankruptcy filing in U.S. history, the emergency manager of Detroit asked a federal judge for permission to put the city into Chapter 9 bankruptcy protection on Thursday afternoon. Gov. Rick Snyder said in a letter authorizing the filing that he understood "many will see this as a low point in the city's history." Adding: "If so, I think it will also be the foundation of the city's future." Detroit has been struggling for years, with a deficit that has hit $18 billion, while losing around a quarter-million residents in the past decade. If the filing is approved, the city will be allowed to liquidate assets to repay creditors and city pensioners who've lost money from bad bond investments and unpaid contracts.


Circus Prep
NY's Peter King Considers 2016 Run
Doesn't like what he sees in the Republican field.
HEAVY-HANDED
Texas Files 'Heartbeat' Abortion Bill
Would criminalize abortions about six weeks into pregnancy.
SANITY?
Florida Protests 'Stand Your Ground'
Citizens occupy capitol as lawmakers push for change.
Study
Fracking Doesn't Contaminate Water
Chemicals stay deep below surface.
SECRET SCREED
Kanye Rants on Leaked Tape
About Taylor Swift, racism, and ... things.
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