Econintersect: Every day our editors collect the most interesting things they find from around the internet and present a summary “reading list” which will include very brief summaries (and sometimes longer ones) of why each item has gotten our attention. Suggestions from readers for “reading list” items are gratefully reviewed, although sometimes space limits the number included.
- Pro Report: Obama kicks off immigration showdown – Pence: Use ‘power of the purse’ – About last night (Leigh Munsil, Politico) Today President Obama is expected to announce that approximately 5 million undocumented immigrants will be shielded from deportation by executive order. The Senate passed a bill which would authorize such action but the House has not brought it up for a vote. Republicans are cautioning their members not to talk about impeachment or a government shutdown but rather to remove funding that could be used for the immigration changes.
- Report blasts US banks’ physical commodities operations (Gina Chon, Financial Times) A senate subcommittee has issued a report after a two year investigation finding that banks expose themselves to “catastrophic financial risks, environmental disasters and potential market manipulation” by their commodity investments. The report also criticized regulators for insufficient action in this area. The banks are vigorous in denial of problems and in defense of their “crucial market making role for clients by providing financing, liquidity and hedging capabilities, while also reducing market volatility“. Banking and Federal Reserve officials are scheduled to testify, starting today and tomorrow.
- Articles about events, conflicts and disease around the world
Possible Ebola case in Jefferson County, Mo. (KSDK – TV)
Nigeria parliament shut after tear gas fired (BBC News)
US advisers spread out through Iraq (Al Jazeera)
China and Russia in naval co-operation vow (Financial Times)
Russia may pivot to the east but it cannot escape its European destiny (Financial Times)
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