Moody's Investors Service considers Greece to have defaulted per its default definitions. The announcement comes despite Athens reaching a deal with private creditors for a bond exchange that will shave €107 billion from its €350 billion debt. The agency pointed out that even though 85.8% of the holders of Greek-law bonds had signed to the deal, the exercise of collective action clauses that Athens is applying to its bonds will force the remaining bondholders to participate.

Lynn Woodman, an angry American guy blows up with a short rant about the government and how they can't even balance a check book. Surprisingly, his message is very libertarian and capitalistic. Hilarious and very NSFW. (LOTS OF LANGUAGE! of course, he's angry!)

A US federal watchdog has criticised the US military for failing to account properly for billions of dollars it received to help rebuild Iraq.

(They sure as hell won't just 'criticize' you or I if we did the same thing....