A US federal judge has temporarily blocked a section of the controversial National Defense Authorization Act that allows for the indefinite military detention of US citizens.

In a 68-page ruling, US District Judge Katherine Forrest agreed on Wednesday that the statute failed to pass constitutional muster.

Does anybody know what’s been driving down daily US trading volumes in recent years?

The New York Times floated a few possible explanations in a long article, and Josh Brown adds his thoughts in a good post as well.

Is it because the U.S. has been approaching (and have now begun) the boomer retirement, driving more flows into bonds and less to equities and equity ETFs

Or could it be that many Americans just don't trust the markets - with all the corruption on Wall Street, our government, ....?

Please read more here.

Sounds like a run on Greek banks...

Not exactly great news right before the Facebook IPO...

Will Smith is an ardent supporter of Obama's proposal to raise income taxes on high earners in the U.S. from 36% to 39%. Smith enthusiastically preached the gospel of paying one's fair share of taxes in a French TV interview.

But when asked about his take on the tax policy of French president-elect François Hollande, Smith was shocked silly by the suggestion of a 75% tax rate on those earning above €1 million annually.

Jamie Dimon's derivatives house of cards!

America's insane energy policy!

In an edition of "Only in America," CNN's Piers Morgan gives the viewer a rare look at some of Michael Jackson's artwork - estimated to be worth $900 million.

Man of many talents!

Last month, after Bloomberg News broke the story that JPMorgan Chase & Co. (JPM)’s chief investment office had, in essence, become a ticking time bomb, Dimon, the bank’s chief executive officer, called the press coverage “a complete tempest in a teapot.” That explanation no longer works.

Could Jamie Dimon really be as clueless as he sounds?

In his new book, “The Amateur: Barack Obama in the White House,” journalist Edward Klein reveals how even former friends and political allies of the president have become frustrated with his remoteness and bungling of crises.

Klein, former editor of The New York Times Magazine and frequent contributor to Vanity Fair, interviewed numerous members of Obama’s inner circle. In this excerpt, he explains how even celebrity backer Oprah Winfrey was shoved aside.