“The U.S. Supreme Court on Thursday rejected a challenge to the Securities and Exchange Commission’s broad authority to recover illegal profits using a financial remedy called disgorgement, buttressing one of the Wall Street watchdog agency’s key powers. The justices, in a 9-0 ruling, upheld a lower court’s decision that had endorsed a wide use of the SEC’s disgorgement authority. President Donald Trump’s administration had defended the SEC in the case. … [Ongkaruck] Sripetch admitted violating securities law, and in a related criminal case was sentenced to 21 months in prison. Sripetch challenged the lower court’s disgorgement order on the grounds that the SEC failed to prove his actions caused stock prices to drop or otherwise financially harmed investors.” (06/04/26)
“Monterey Park voters made history Tuesday by passing the first permanent ban on data centers nationwide. Voters are on track to overwhelmingly approve the ban, with 86% in favor according to the latest ballot count, leading organizers to claim victory (the official results won’t be certified until July 10). Where other jurisdictions have passed temporary measures to curb the controversial development of these massive server farms, Monterey Park voters’ decision in this election will keep developers at bay unless voters want to revisit the decision in a future election.” (06/03/26)
“Sal and Mark are back with a special episode recorded live at BCH Bliss 2026 in Ljubljana, Slovenia — the premier Bitcoin Cash conference. We’ve put together a montage of the best interviews from the event.” (06/03/26)
Source: David Friedman’s Substack
by David Friedman
“My previous three posts dealt with the possibility of an alliance between libertarians and Abundance liberals. Neither is a political party, a nation, even an organization; in what sense can they ally? One could imagine a political alliance in which leading members of both groups advise their followers to vote for the same candidate or ballot measure, but that is not what I am talking about. What I am imagining is for members of both groups to treat each other as part of the same intellectual community, read, listen to, comment on and think about each other’s writing, teach and learn from each other, perhaps coauthor books or articles. For that to happen productively there have to be issues on which the participants in the conversation believe that their views could be improved by ideas from the other side.” (06/03/26)
“John Bolton, President Donald Trump’s former national security adviser-turned-adversary, has reached a plea deal over mishandling sensitive national security information, according to three sources familiar with the matter. He intends to plead guilty to one felony count of illegal retention of sensitive national security information, according to one of the sources. He has also agreed to pay a more than $2 million fine, according to one of the sources. A conviction on one count of illegal retention comes with a sentence between 0 and 60 months in prison. The Justice Department declined to comment and referred CNN to the court docket, which indicates a hearing was set for June 26.” (06/04/26)
“North Korea on Thursday unveiled a new facility believed to produce fuel for nuclear weapons, with leader Kim Jong Un pledging to expand the country’s nuclear forces ‘at an exponential rate.’ Photos suggested the site may be a uranium enrichment facility. Kim has repeatedly cited US-led military threats as underpinning the need for his country to bolster its nuclear weapons arsenal.” (06/03/26)
“President Donald J Trump spent the better part of a decade telling the world that Barack Obama’s (among many others) Iran deal was the worst agreement in American diplomatic history. Iran’s nuclear program reached its most advanced state ever. He launched a war that killed thousands, shut off a fifth of the world’s oil supply, and ended with a ceasefire built on terms that are, by every objective measure, more generous to Tehran than anything Obama or the EU secured. This is how that happened, and what the legal wreckage left behind tells us about the remaining integrity of the rules-based international order.” (06/03/26)
