Will New Marijuana Laws Go Up In Smoke?

Dec. 3 (Bloomberg) -- Voters in Colorado and Washington passed measures last month to legalize recreational marijuana use, putting state laws in conflict with federal law. But it's not the first time that's happened. Seventeen states have already legalized medical marijuana, even though federal law says marijuana has no medically acceptable use. So what happens when state and federal laws are in conflict? Under the Supremacy Clause of Article VI of the US Constitution, the federal courts can lock you up for carrying a small bag of marijuana, even if state law says otherwise. But first you have to be prosecuted. And other than some very limited attempts, the feds haven't gone after people who are prescribed marijuana by a doctor. (Source: Bloomberg)
Austerity Is the Only Deal-Breaker: Varoufakis
17:43 - On “Morning Must Read,” Tom Keene and Brendan Greeley recap the op-ed pieces and analyst notes that provide insight into today's headlines. Citigroup Vice Chairman Peter Orszag also speaks on “Bloomberg Surveillance.” (Source: Bloomberg)
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