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Washington (AFP) – U.S. regulators on Wednesday fined banking giant JPMorgan Chase $100 million for “reckless conduct” in the “London whale” trading debacle.

The U.S. Commodity Futures Trading Commission said that JPMorgan had admitted charges of manipulating trading of certain credit-default swaps in the case that caused the bank $6.2 billion in losses, and had agreed to pay the civil penalty.

AFP Photo/Emmanuel Dunand

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Wandrea "Shaye" Moss

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Just who deserves protection in America?

If you observe the folks this country chooses to protect and chooses to ignore, you may get an answer that doesn’t exactly line up with America’s ideals.

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The First Amendment reflects a principled but shrewd attitude toward religion, which can be summarized: Government should keep its big fat nose out of matters of faith. The current Supreme Court, however, is not in full agreement with that proposition. It is in half agreement — and half is not enough.

This section of the Bill of Rights contains two commands. First, the government can't do anything "respecting an establishment of religion" — that is, sponsoring, subsidizing or providing special favors for religious institutions or individuals.

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