“In 2014 the French bank BNP Paribas pleaded guilty to processing transactions for Iran, Cuba, and Sudan and paid an $8.9 billion settlement, its dollar-clearing business barred for a year. No French court convicted it. No French statute was broken. A European institution was fined nearly nine billion dollars by a foreign government for conduct that was legal where it occurred. Every treasurer in every bank outside the United States understood the message, and has behaved accordingly ever since. It was not meant to be this. When the dollar emerged from the last world war as the axis of global settlement, its dominance was a matter of commercial convenience—the currency everyone happened to hold because everyone else held it too. Convenience hardened into infrastructure, and infrastructure, in the hands of a state that noticed what it possessed, hardened into leverage.” (08/26/26)
“A Massachusetts judge ruled Tuesday that the Trump administration violated a nationwide injunction by finalizing a rule that would significantly overhaul mail voting if allowed to take effect. The order allows the Trump administration to publish the rule Wednesday, but the U.S. Postal Service remains barred from making the dramatic changes to mail-in ballots. … Tuesday’s ruling came in response to a motion from the League of Women Voters of Massachusetts asking Talwani to enforce her nationwide injunction blocking the new mail-ballot rules. The injunction bars the administration from directing USPS to reject ballot mail that doesn’t comply with the administration’s new design requirements until after the 2026 midterms.” (08/25/26)
“Strip away the diplomatic briefings, Congressional hearings and the endless cable news loops about centrifuges, regional proxies and cyber attacks, and you hit a raw unvarnished nerve. What truly disturbs the United States about the Islamic Republic is not its policies, its rhetoric or even its nuclear ambitions. It is Iran’s audacity to exist completely outside the American orbit; and make it work.” (08/26/26)
“The average voter, from personal experience or attempted avoidance thereof, is probably aware that excessive debt is bad, but he or she may be less clear about its deleterious national economic consequences. Even less obvious are the national security ramifications.” (08/25/26)
“A fire erupted early Wednesday in a nursery for newborns at a major government hospital in Pakistan’s capital, killing 14 babies, according to hospital officials and the government. The Pakistan Institute of Medical Sciences in Islamabad housed at least 15 newborns in the nursery from the fire that began about 6:45 a.m. local time after an air-conditioning unit compressor exploded inside the nursery on the third floor, hospital and rescue officials said. The fire was confined to the nursery in the gynecology ward, while the rest of the hospital remained unaffected and there were no other injuries reported, according to hospital officials and witnesses. Television footage showed rescue workers using ladders to reach the area through broken windows.” (08/26/26)
“The Supreme Court’s ruling on Monday allowing President Trump’s executive order on mail voting to go forward is stunningly insensitive to the context: Trump is trying to exercise control over elections when he has absolutely no authority to do so. In one sense, the justices decided nothing, simply saying it was too soon for federal courts to get involved. But in a more important way, the court could have and should have put an emphatic end to the president’s efforts to try to regulate voting operations that are legally the domain of state governments.” (08/25/26)
