July 2, 1776, 1863, 1944, 2012

something different for this day,

July 2, 1489: Thomas Cranmer, first Protestant Archbishop of Canterbury born

July 2, 1776: British fleet arrived in New York Harbor to take the city. "Thousands of redcoats disembarked on Staten Island. From Manhattan wharves and rooftops, Continental Army soldiers stared flabbergasted at the interminable procession of imposing vessels crowding into the harbor. Surveying a bay thick with British masts, one American soldier said that it resembled "a wood of pine trees.""I could not believe my eyes. I declare that I thought all London was afloat." Captain [Alexander] Hamilton and his artillery company, posted at the Battery, had an unobstructed view of the enemy. It seemed an inauspicious moment for the threatened colonies to declare independence, and yet that is exactly what they did.  Faced with the military strength of the most colossal empire since ancient Rome, they decided to fight back. On July 2, the Continental Congress unanimously adopted a resolution calling for independence, with only New York abstaining." from Alexander Hamilton by Ron Chernow, Penguin Books 2005, pp. 76-7

July 2, 1863: Confederate General Robert E Lee attacks Union army on it's flank.near Gettysburg, PA. Battles of Little Round Top, and Devil's Den and the Wheatfields and the Peach Orchard force the Union army into a defensive position. On both sides, thousands of casualties fell here this day. In Vicksburg, MS, Union soldiers work at tunneling a breach in the defenses of the besieged city. The Confederate forces would agree in two days to be 'paroled' rather than suffer further indignities, like eating shoe leather. Only twelve civilians were killed in the siege that lasted since May.

July 2, 1877: Herman Hesse born

July 2, 1926: Medgar Evers born

July 2, 1944: Allied bombers hit German site of V1 missile construction, near Creil, France (north of Paris, in Picardy). At this late date, the allies, especially the Brits were desperate to stop the bourgeoning German missile production. It was code named Operation Aphrodite.

July 2, 1964 President Lyndon B Johnson signs Civil Rights Act into Law.

The Barclay's fine and settlement last week and fallout Monday, July 2, 2012 with both the chairman and chief executive of the famed British investment bank resigning is enough to overshadow all the news on banking and business for some time to come. There are at least a dozen more big banks that are being investigated with this interest-rate manipulation scheme. Expect the big ones like JP Morgan, UBS to step forward with what they know. But more people are coming out and beginning to ask about the rating agencies activities as well over the same period.

Why such a big deal on another banking scandal? Because the global lending rate effects everything. 

Never mind the $3 billion fine levied this week on Int'l pharma-giant GlaxoSmithKline (GSK) for fraud. 

On NPR they point out, It is the culture that ignores regulations and intimidates whistle blowers that's at fault. (4.5 minutes)

On the bbc world service July 3, 2012 they were discussing the very point that it is a culture 

where investment bankers can gamble with deposit banking funds. 

That's our money they bet with. When we give it to them.