PRESS DIGEST - Wall Street Journal - Aug 14
Aug 14 (Reuters) - The following are the top stories in the Wall Street Journal. Reuters has not verified these stories and does not vouch for their accuracy.
* White House and State Department officials who were leading U.S. efforts to rein in Israel's military campaign in the Gaza Strip were caught off guard last month when they learned that the Israeli military had been quietly securing supplies of ammunition from the Pentagon without their approval. (on.wsj.com/1rtic0S)
* President Barack Obama and Hillary Clinton found themselves on the same small island Wednesday with very different objectives. The president was seeking an escape from the White House. His former secretary of state was taking steps that could land her there. (on.wsj.com/1sVF4XP)
* A large California pension manager is using complex derivatives to supercharge its bets as it looks to cover a funding shortfall and diversify its holdings. The new strategy employed by the San Diego County Employees Retirement Association is complicated and potentially risky, but officials close to the system say it is designed to balance out the fund's holdings and protect it against big losses in the event of a stock-market meltdown. (on.wsj.com/1q9h7t3)
* Senior Federal Reserve officials said the "repo" markets that play a fundamental role in moving money around the financial system remain unstable, raising the specter of further limits on big banks' role in the markets. (on.wsj.com/1pOHkQc) Continuación...