1. Another SAC Capital trader gets arrested (here) for insider trading in one of longest running investigations in a while.
2, Judge lets banks off the hook for some LIBOR cases. This is interesting, banks have paid fines and acknowledged LIBOR manipulations, but some private lawsuits against them are dismissed (here). Perhaps they were frivolous.
3. El Arian (here) comes out saying the obvious (about POMO) and that it will continue. Obvious or not, he says it well, I particularly liked one of his colleagues’ notion of “assisted” growth.
4. Today appears to be my day for catching up on legal things. I generally stay away from commenting on social issues, but this story on Justice Robert’s peculiar defense of the Defense of Marriage Act and this story of Justice Scalia misrepresenting sociologists in his critique of gay adoption caught my eye.
5. Felix Salmon, who I haven’t read for a while has at least two fascinating stories that caught my eye. The first is about the Federal Helium Reserve (here). We know about the oil reserve but helium! As he concludes perhaps not facetiously, this is another market the Federal Govt has to get out of, you know like the mortgage market.
6. And the second is a legal situation involving Argentinian sovereign debt with more legal eagles Ted Olson and David Boies (here), (here) and in other places.