A Supreme Court ruling due in a few weeks could wipe out health insurance for millions of people covered by President Barack Obama's health care law. But it's Republicans — not White House officials — who have been talking about damage control.
A likely reason: Twenty-six of the 34 states that would be most affected by the ruling have Republican governors, and 22 of the 24 GOP Senate seats up in 2016 are in those states.
Obama's law offers subsidized private insurance to people without access to it on the job. In the court case, opponents of the law argue that its literal wording allows the federal government to subsidize coverage only in states that set up their own health insurance markets.
Most states have not done so, because of the intense partisanship over "Obamacare" and in some cases because of technical problems. Instead, they rely on the federal HealthCare.gov website.
If the court invalidates the subsidies in those states, an estimated 8 million people could lose coverage. The results would be "ugly," said Sandy Praeger, a former Kansas insurance commissioner.
Wednesday, May 27, 2015
Wednesday, May 20, 2015
Swiss Bank UBS Pleading Guilty To Wire Fraud
Swiss bank UBS says it is pleading guilty to wire fraud and is paying $545 million to settle U.S. cases of market manipulation.
The bank said Wednesday that under the deal with U.S. authorities it will be granted conditional immunity from prosecution in a Department of Justice probe on the manipulation of foreign exchange rates. UBS AG said it was the first to report to the DOJ potential misconduct by banks in forex markets.
It will however pay a $342 million fine to the Federal Reserve.
It will separately pay a $203 million fine to the DOJ for manipulating a key market interest rate called the London Interbank Offered Rate.
The bank said "the conduct of a small number of employees was unacceptable and we have taken appropriate disciplinary actions."
Saturday, May 16, 2015
Attorney: Court orders release of anti-nuclear activists
A federal appeals court has ordered the immediate release of an 85-year-old nun and two fellow Catholic peace activists who vandalized a uranium storage bunker, their attorney said Friday.
The order came after the 6th U.S. Circuit Court of Appeals in Cincinnati last week overturned the 2013 sabotage convictions of Sister Megan Rice, 66-year-old Michael Walli and 59-year-old Greg Boertje-Obed and ordered resentencing on their remaining conviction for injuring government property. The activists have spent two years in prison, and the court said they likely already have served more time than they will receive for the lesser charge.
On Thursday, their attorneys petitioned the court for an emergency release, saying that resentencing would take weeks if normal court procedures were followed. Prosecutors on Friday afternoon responded that they would not oppose the release, if certain conditions were met.
After the close of business on Friday, attorney Bill Quigley said the court had ordered the activists' immediate release. He said he was working to get them out of prison and was hopeful they could be released overnight or on the weekend.
"We would expect the Bureau of Prisons to follow the order of the court and release them as soon as possible," he said.
Rice, Walli and Boertje-Obed are part of a loose network of activists opposed to the spread of nuclear weapons. To further their cause, in July 2012, they cut through several fences to reach the most secure area of the Y-12 complex. Before they were arrested, they spent two hours outside a bunker that stores much of the nation's bomb-grade uranium, hanging banners, praying and spray-painting slogans.
In the aftermath of the breach, federal officials implemented sweeping security changes, including a new defense security chief to oversee all of the National Nuclear Security Administration's sites.
Rice was originally sentenced to nearly three years and Walli and Boertje-Obed were each sentenced to just over five years. In overturning the sabotage conviction, the Appeals Court ruled that the trio's actions did not injure national security.
The order came after the 6th U.S. Circuit Court of Appeals in Cincinnati last week overturned the 2013 sabotage convictions of Sister Megan Rice, 66-year-old Michael Walli and 59-year-old Greg Boertje-Obed and ordered resentencing on their remaining conviction for injuring government property. The activists have spent two years in prison, and the court said they likely already have served more time than they will receive for the lesser charge.
On Thursday, their attorneys petitioned the court for an emergency release, saying that resentencing would take weeks if normal court procedures were followed. Prosecutors on Friday afternoon responded that they would not oppose the release, if certain conditions were met.
After the close of business on Friday, attorney Bill Quigley said the court had ordered the activists' immediate release. He said he was working to get them out of prison and was hopeful they could be released overnight or on the weekend.
"We would expect the Bureau of Prisons to follow the order of the court and release them as soon as possible," he said.
Rice, Walli and Boertje-Obed are part of a loose network of activists opposed to the spread of nuclear weapons. To further their cause, in July 2012, they cut through several fences to reach the most secure area of the Y-12 complex. Before they were arrested, they spent two hours outside a bunker that stores much of the nation's bomb-grade uranium, hanging banners, praying and spray-painting slogans.
In the aftermath of the breach, federal officials implemented sweeping security changes, including a new defense security chief to oversee all of the National Nuclear Security Administration's sites.
Rice was originally sentenced to nearly three years and Walli and Boertje-Obed were each sentenced to just over five years. In overturning the sabotage conviction, the Appeals Court ruled that the trio's actions did not injure national security.
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