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The U.S. Special Operations Command's spending since 2001 has quadrupled, with an almost fivefold increase in revenue for its four largest defense contractors, according to a Bloomberg Government study.

I want to address the issue of "disruption," as Bloomberg is sending this issue out as a talking point brought up on Keith Olbermann's Coundown last night: the neighbors around Zuccotti Square, says Bloomberg, are feeling "disrupted" by the noise and visitors to the OWS protest, so he is going to crack down to "strike a balance" to address their complaints. Other OWS organizers have let me know that the Parks Department and various municipalities are trying to find a way to eject other protesters from public space on a similar basis of argument. Please, citizens of America - please, OWS - do not buy into this rhetorical framework: an absolute "right to be free of disruption" from First Amendment activity does not exist in a free republic. But the right to engage in peaceable disruption does exist.

The past few days have seen some very unusual events in New York. You might have heard that, over the weekend, a large contingent of folks started a protest on Wall Street. Using Twitter and other online tools, they started a large sit-in of the south end of Manhattan. The day before that, New York mayor Michael Bloomberg warned that frustrations over the U.S. economic and political situation could boil over into riots. The U.S. has seen its share of robust political protests in recent years, but this feels different. Something is emerging within America that has never happened before: the country has to choose between democracy and capitalism.

This story from Bloomberg just hit the wires this morning.  Bank of America is shifting derivatives in its Merrill investment banking unit to its depository arm, which has access to the Fed discount window and is protected by the FDIC. What this means for you is that when Europe finally implodes and banks fail, U.S. taxpayers will hold the bag for trillions in CDS insurance contracts sold by Bank of America and JP Morgan.  Even worse, the total exposure is unknown because Wall Street successfully lobbied during Dodd-Frank passage so that no central exchange would exist keeping track of net derivative exposure.