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Peregrine chief arrested for lying to regulators

The head of collapsed US futures broker Peregrine Financial Group was arrested Friday on criminal charges, days after he apparently attempted suicide and confessed to fraud in a signed statement. Russell Wasendorf, the sole owner and chief executive of Iowa-based PFG, admitted in the suicide note that he had embezzled…

George Zimmerman wants a new judge

MIAMI — A Florida neighborhood watch volunteer who shot an unarmed black teen to death on Friday requested that a new judge preside over his murder trial, accusing the current judge of bias against him. The State Attorney’s Office quickly objected to the motion filed by attorneys for George Zimmerman,…

Visa, MasterCard to pay over $6 billion to merchants in swipe fees case

WASHINGTON — Credit card giants Visa and MasterCard agreed Friday to pay more than $6 billion to millions of merchants which had sued them for allegedly fixing card-use fees. In a negotiated settlement to resolve the seven-year-old case, Visa agreed to pay $4.03 billion to settle the class-action lawsuit while…

Georgia aims to defy Supreme Court by executing mentally disabled prisoner

A death row prisoner in Georgia who has been officially deemed by the courts to be “mentally retarded” is scheduled to be executed next week despite a supreme court ruling that bans the death sentence for people with learning difficulties. The Georgia State Board of Pardons and Paroles was due…

DOJ argues in court Texas Voter ID law could disenfranchise 1 in 10 voters

The US department of justice has defended its ban of a Texas voter ID law by telling a federal court that the legislation is an attempt by the state’s largely white Republican party to resist the political impact of changing racial demographics. A five-day hearing in Washington over whether the…

Top Dems push for probe of big banks over Libor rate scandal

One of the largest financial scandals in history is playing out right now in London, but most Americans haven’t even heard about it thanks to the story’s near total absence from U.S. television news. But now, a collection of the Democratic Party’s most influential elected officials are pushing for a…

Wells Fargo posts record profits

US bank Wells Fargo said Friday it had record profit in the second quarter, with double-digit growth in earnings and strong gains in loans and deposits. Wells Fargo said that net income rose 18 percent in the second quarter from a year ago, to $4.4 billion. Earnings per share also…

Scientist: Pushing OxyContin addicts to heroin reveals ‘utter failure’ of drug war

The author of a landmark study on how the recent decline in abuse of the opium-based painkiller drug OxyContin has driven up heroin addiction rates slammed the “utter failure” of the American drug war’s myopic focus on “supply-side” strategies speaking to Raw Story this week, explaining that the strategy ultimately…

Geraldo Rivera brags he was ‘right about the hoodie’

Fox News host Geraldo Rivera on Friday insisted that he had been vindicated for suggesting that a hoodie “allowed” Florida neighborhood watch captain George Zimmerman to gun down 17-year-old Trayvon Martin. In March, Rivera had faced criticism after he asserted that “the hoodie is as much responsible for Trayvon Martin’s…

Georgia home-schooled girl punished with shock collar because ‘the Bible says’

A Georgia couple was arrested this week on charges of child cruelty and false imprisonment after their 15-year-old daughter told authorities that she was forced to live in a chicken coop and wear a remote-controlled shock collar. The 15-year-old, who was home schooled, reportedly said that her adopted parents, Samuel…

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