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News UK Treasury invokes anti-terrorism law to protect investors in Iceland bank
UK Treasury invokes anti-terrorism law to protect investors in Iceland bank
Andrew Gilmore
October 9, 2008 10:38:00 am

The British government on Wednesday froze nearly $4 billion in UK financial assets held by the failed Icelandic bank Landsbanki , exercising its powers under the 2001 Anti-terrorism, Crime and Security Act...

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News Documents show US military feared for detainees’ mental condition
Documents show US military feared for detainees’ mental condition
Andrew Gilmore
October 9, 2008 06:37:00 am

US military officers feared for the mental health of alleged terrorism detainees held in isolation in the US, according to documents received through Freedom of Information Act (FOIA) requests and released Wednesday by the American...

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News UK troops refusing to detain insurgents due to rights law concerns: US official
UK troops refusing to detain insurgents due to rights law concerns: US official
Andrew Gilmore
October 9, 2008 01:33:00 am

US State Department legal advisor John B. Bellinger III ,told the Guardian newspaper Tuesday that British troops in Iraq and Afghanistan are not detaining suspected insurgents in those countries due to concerns...

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News SEC begins accounting rules review as House committee probes AIG
SEC begins accounting rules review as House committee probes AIG
Andrew Gilmore
October 8, 2008 06:50:00 am

The US Securities and Exchange Commission (SEC) said Tuesday that it has begun an agency review of US financial accounting procedures, including "mark-to-market" rules, pursuant to the recently-passed $700 billion financial rescue bill...

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News UN special rapporteurs press for greater protection of detainees
UN special rapporteurs press for greater protection of detainees
Andrew Gilmore
October 7, 2008 01:26:00 pm

Thirteen United Nations experts on Monday urged the international community to respect the rights of detainees . The statement of the 13 special rapporteurs, including Philip Alston , the Special Rapporteur on extrajudicial, summary...

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News Lehman Brothers CEO calls for new financial regulatory scheme
Lehman Brothers CEO calls for new financial regulatory scheme
Andrew Gilmore
October 7, 2008 07:11:00 am

Lehman Brothers Chairman and Chief Executive Officer Richard Fuld Monday called for a new regulatory scheme for financial firms in testimony before the US House Committee on Oversight and Government Reform . Fuld answered...

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News France trial of 42 accused in Angola illegal arms supply case begins
France trial of 42 accused in Angola illegal arms supply case begins
Andrew Gilmore
October 6, 2008 09:08:00 pm

Trial proceedings began in Paris Monday in the case of 42 people, including the son of former French President Francois Mitterrand, allegedly involved in the so-called Angolagate scandal regarding the supply of illegal arms to...

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News $700 billion US financial rescue bill becomes law
$700 billion US financial rescue bill becomes law
Andrew Gilmore
October 3, 2008 04:38:00 pm

The US House of Representatives on Friday passed a $700 billion financial rescue bill that President Bush quickly signed into law . The House approved the Emergency Economic Stabilization Act of 2008...

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News Top UK police chief resigns in wake of Menezes inquiry, other problems
Top UK police chief resigns in wake of Menezes inquiry, other problems
Andrew Gilmore
October 3, 2008 10:30:00 am

Sir Ian Blair resigned Thursday from his position as Commissioner of London's Metropolitan Police Service ("Met") , effective December 1, 2008. Blair cited a strained relationship with the newly-elected mayor of London, Boris Johnson ,...

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News US Senate votes to approve nuclear cooperation agreement with India
US Senate votes to approve nuclear cooperation agreement with India
Andrew Gilmore
October 2, 2008 10:42:00 am

The US Senate voted Wednesday to approve legislation establishing a cooperative nuclear energy agreement with India. The bill, entitled the "United States-India Nuclear Cooperation Approval and Nonproliferation Enhancement Act," was approved by a vote of...

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Peru dispatch: protesters demand new elections as death toll from political violence surges under newly sworn-in president

Peru dispatch: protesters demand new elections as death toll from political violence surges under newly sworn-in president

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THIS DAY @ LAW

President Lincoln signed first US federal income tax act

On July 1, 1862, the Tax Act of 1862 was passed and signed by President Lincoln, establishing a 3% federal tax on income above $600 and a 5% tax on income above $10,000.

Compliance with the act was poor, even though there were needs for the Civil War. After the war the act was declared unconstitutional by the Supreme Court. Review a brief history of the US income tax from the Library of Congress.

UK returns Hong Kong to China

On July 1, 1997, the United Kingdom returned Hong Kong to China at the conclusion of a 99-year lease. The foundation for the transfer of power was set in December of 1984, when China and UK signed the Sino-British Joint Declaration on Hong Kong. The Declaration affirmed the handover of Hong Kong along with governing principles. Most significantly, the Chinese agreed not to impose their socialist system on Hong Kong.

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