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The company behind one of the most ridiculous products in recent memory has filed for chapter eleven bankruptcy protection in the US! Power Balance – makers of those “performance enhancing” rubber bracelets – has been inundated with lawsuits over their claims that the bracelet’s hologram improves strength and balance. This comes after an Australian distributor was fined $57 million by Aussie regulators to settle the very same claims.

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The White House is refusing to comment about a news story claiming that President Obama signed a secret order authorizing covert operations in Libya. A source claims that CIA operatives are in the country, gathering intelligence and making contact with the opposition. The administration still says that no decision has been made on arming rebel forces trying to overthrow the Gaddafi regime.

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