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Judge repudiates explosive testimony that helped undermine Chevron’s $9.5B judgment

+ In case you missed it, this is a must-read: One of the key witnesses who helped Chevron undermine a $9.5 billion judgment it faced in Ecuador for oil contamination in the Amazon jungle is repudiating his prior testimony. Ecuadoran judge Alberto Guerra, who only had $100 to his name in 2011, says that Chevron showered him with perks to win him over, including $326,000, an immigration attorney and a car, once showing him a safe filled with money and telling him, “Look, look, look what’s down there. We have $20,000 there,” according to transcripts obtained by the always-indispensable Courthouse News Service’s Adam Klasfeld.

+ Seven years after the financial crisis put credit-default swaps in the headlines, the secretive circle of banks who control the $14 trillion credit insurance market are being pressured to take on conflicts of interest. At present, firms like Goldman Sachs and JPMorgan, who wrote the CDS rules and buy and sell CDSs, also decide which debtor’s default has triggered a payout of a CDS, reports Bloomberg News’ Nabila Ahmed.

+ The companies in Louisville, Kentucky that are the biggest repeat pollution offenders rarely clean up their act, even in the wake of fines. Local businesses have paid the city over $3.8 million in fines since 2003, but the city still gets multiple failing grades from environmental groups.

+ The government of Myanmar is furthering the genocide of Muslims in the country by stoking fears in townships and planning riots that left hundreds dead in 2012, according to eyewitness and documents obtained by Al-Jazeera.