Gary Jackson, the ex-President of private security contractor Blackwater (now known as Xe), has been indicted on federal weapons charges, the Associated Press reports. Four other Blackwater officials will also face prosecution. As Mother Jones noted last month, this news wasn't entirely a surprise.
The Dow Jones Industrial Average fell almost 1000 points in ten minutes today, wiping out $1 trillion in equity values as algorithmic trading by high-speed computers spun out of control.
Conservatives have dubbed the spill "Obama's Katrina." But the roots of the disaster, which could potentially have been prevented by enhanced safety measures, stretch back to the George W. Bush years. During that era, Interior became a revolving door haven for industry lobbyists. MMS developed a hands-off approach to regulation and was known for its deference to the companies it was supposed to be policing.