The Sad Face of Banksters’ Criminality

While we all know now just how corrupt and greedy the banksters were as they precipitated the housing crisis and we have watched as nearly 4 million families have lost their homes since 2008, and those who have been displaced seem to have remained faceless.  This is the real crime.  The housing market has never really recovered and currently is still in a slump.

Countrywide Financial was one of the sub-prime lenders at the heart of the financial crisis; its predatory lending practices resulted in disgustingly large payouts for executives while sticking low-income borrowers with explosive mortgages they hadn’t a hope of paying back. The New York Times‘ Gretchen Morgenson called Countrywide, “Exhibit A for the lax and, until recently, highly lucrative lending that has turned a once-hot business ice cold and has touched off a housing crisis of historic proportions.”

Eileen Foster was an investigator in charge of Fraud Risk Management at Countrywide when the ticking time bomb of its bad loans detonated. The practices she discovered shocked her and have also shocked those who’ve heard her story—including the producers of “60 Minutes,” who asked her on the program last December to discuss the lack of prosecutions of any of the bankers responsible for the crisis. But instead of cleaning house and admitting guilt, Bank of America—which purchased Countrywide as the financial crisis grew, in what the Wall Street Journal calls “one of the worst deals ever struck in corporate America”–drove Foster out and tried to discredit her findings.

In 2011, the Department of Labor ruled that Foster had been illegally fired. It said that her firing was retaliation for her whistle-blowing and ordered that she be reinstated and paid compensation. There have still been no prosecutions, and no officials have asked to hear Foster’s story—so she’s taking it public. Earlier this year, she was honored with a Ridenhour prize for truth-telling from the Nation Institute and the Fertel Foundation.

The saddest victims of this fraud and deception have been those who have worked their entire lives to have a home to live out their retirement.  How can our Justice Department stay silent. Eric Holder should be ashamed of himself for not acting to bring these criminals to justice!

More than 1.5 million older Americans already have lost their homes, with millions more at risk as the national housing crisis takes its toll on those who are among the worst positioned to weather the storm, a new AARP report says.  Older African-Americans and Hispanics are the hardest hit.  “The Great Recession has been brutal for many older Americans,” said Debra Whitman, AARP’s policy chief. “This shows that home ownership doesn’t guarantee financial security later in life.”

Even working two jobs hasn’t been enough to allow Jewel Lewis-Hall, 57, to make her monthly mortgage payments on time. Her husband has made little money since being laid off from his job at a farmer’s market, and Lewis-Hall said her salary as a school cook falls short of what she needs to make the payments on her home in Washington.  Lewis-Hall and her husband have been making their payments late for about a year, but panic didn’t set in until recently, when the word “foreclosure” showed up in a letter from the bank.

“You’re used to living a certain way, but one thing leads to another,” Lewis-Hall said. “It’s not like I have a new car or anything. I’m driving one from 1991.”

According to AARP:

    • About 600,000 people who are 50 years or older are in foreclosure.
    • About 625,000 in the same age group are at least three months behind on their mortgages.
    • About 3.5 million — 16 percent of older homeowners — are underwater, meaning their home values have gone down and they now owe more than their homes are worth.

AARP said that over the past five years, the proportion of loans held by older Americans that are seriously delinquent jumped by more than 450 percent.  Homeowners who are younger than 50 have a higher rate of serious delinquency than their older counterparts, but the rate is increasing at a faster pace for older Americans than for younger ones, according to AARP’s analysis of more than 17 million mortgages.

Americans who are 50 or older are hard-pressed to recover from the collapse of the housing market that started in 2006 and was compounded by the recession that started in 2007. Eight in 10 own homes, but many live on fixed incomes, have little savings or have already burned through much of their retirement savings. They also have fewer working years left to build back what they may have lost.

And those who are forced to re-enter the workforce often find they can’t command the same salary that they did in the past.


Older minorities are facing foreclosure rates that are almost double those faced by white borrowers of the same age, mirroring a nationwide trend seen in other age groups as well. Among older African-Americans, 3.5 percent were in foreclosure at the end of 2011, and the rate was 3.9 percent for Hispanics. Just 1.9 percent of white homeowners were in foreclosure.

The issue has become so dire in Rep. Elijah Cummings’ Maryland district that he has assigned one of his 20 staffers to work full time to help struggling homeowners, and his office holds regular foreclosure prevention workshops. He said the federal government can do its part by promoting principal reduction and loan modification programs.  “These are people who in many instances have never missed a payment in 20 years,” Cummings, a Democrat, said in an interview. “You see grown men crying because of the potential loss of a home.”

Among older homeowners, those who are 75 or older are in the worst shape when it comes to foreclosures, the report showed. In 2007, one out of every 300 homeowners 75 or older was in foreclosure. Five years later, about one in 30 face that same fate.

Many of those oldest homeowners may have lost income they were counting on, such as the retirement benefits of a deceased spouse. In the meantime, their mortgage payments have stayed the same.  The situation is likely to get worse before it gets better, AARP officials predicted, because of a housing market that is recovering at a snail’s pace.  “This crisis is far from over,” Whitman said. “We need to think about more creative solutions now that we have this data.”

We need to outraged by these realities.  Enough talk!  We need to demand justice. Mr. Holder, respectfully, you have all the evidence you need, how can you not act?  If you don’t have the backbone to bring these creeps to justice, then at least just declare all the mortgages illegal and give debt forgiveness to every mortgage holder over fifty as a penalty for the fraud.  You have options, please exercise them now.


A major solar flare reaching X1.4 peaked at 16:52 UTC Thursday afternoon. A major and long duration eruption reaching X1.4 around Sunspot 1520 peaked at 16:52 UTC Thursday afternoon. Type II and IV Sweep Frequency Events were recorded. This event was also responsible for a Strong R3 Radio Blackout on the sunlit side of Earth. A bright Coronal Mass Ejection was produced and appears to be Earth directed.

CME Update: As per the latest CME track from the Goddard Space Center, the fast moving plasma cloud from today will impact our Geomagnetic Field on Saturday with a nearly direct hit. Geomagnetic Storming will be possible and this could lead to very nice Aurora displays at higher latitudes. Please note that with any CME prediction, nothing is for certain. Click HERE to watch the forecast track animation.

Event Probabilities 13 Jul-15 Jul

Class M    80/80/80

Class X    35/35/35

Proton     99/99/50

PCAF       red

So For Our Families, So for The World – The Standards We Should be Demanding

Higher standards of any ADVANCED community are based on ease and pleasure, efficiency and safety, cleanliness and health, love and friendship, cooperation, spirit, community and togetherness. These are the elements of a higher dimensional society, and these are the seeds that we should be demanding be the planks of any government.  All parents want to guide, nurture, look after, and protect their children as they grow and mature. Throughout the world there are no exceptions to this reality.

Children who have the opportunity and now, in this dysfunctional society, the privilege to grow up in such a nurturing family go on to achieve great things in their lives.  Ask any Nobel Prize winner, great athlete, or great leader that we admire and they all point to their parents and teachers as those who inspired them to achieve the goals they eventually do achieve. It is this very environment we should now demand for our global society.  As I pointed out in my article on the myth of scarcity, we can create a “norm” for our global community where such a nurturing environment for the next generation and beyond is a reality.  It is simply a matter of equal distribution of wealth and a strong universal desire to make it so.

When you examine the current state of affairs in the world, all of the uncertainty, danger, and suffering is based on greed, power struggles, and hubris of “being special”, whether that is because of station or religion. Really, what is wrong about being equal and equally entitled to being able to achieve what we dream to be or do? It’s a simple question with a simple answer-nothing!

Let’s consider for a moment how we protect our families. We wish no harm to ever really come to ourselves, our loved ones or friends, and we try to ensure this by acting in concert. Our little one gets bullied at school and big brother shows up to stop it.  Someone in the family loses their job and they move in with relatives, or at least we all make sure they have food, etc.  It is simply what family is all about.  Now tell me why we can’t seem to extend this attitude to city, state, country, or global?  What are the real barriers?  We know what the “created barriers are (artificial borders and religion mostly), but what are the real physical barriers to achieving this goal? It really is just a matter of our mindset.

When one really does a sincere self-reflection on these questions, you are confronted with some self disturbing questions like why is right for my child to have health care, but not the child in Africa? More importantly why do we argue the contrary to that right?  Why do we feel entitled, but the family in the ghetto is somehow less entitled to opportunity.  The real answer is disturbing because it is an intentional programmed propaganda very subtly administered. By whom and for what purpose is the question.  There are two elements to this successful load of crap.  One, the real purpose behind it is that it creates the elite, and two, the reality we “buy into it” because we secretly desire and hope someday to be the “elite”.  The reality is there wouldn’t be an elite class if the 99% were elite, would it?  Get it!

The elements of our world that have caused us so much pain, grief, destruction, destitution, hardship and struggle are not necessarily unavoidable or without purpose.  However, these realities should not be permanent in our lives, but instead, a means to achieve a goal.  So what is the goal?

As we begin to awake we should realize we are internally and spiritually bound to uphold the ideals, morals and the integrity of our personal efforts and actions which are the vital bloodline through the life of any civilization. There are no civilizations in this universe without means to share information from being to being, from culture to culture, nation to nation or any point on a planet. This world is not unique in its infrastructure of media and communications, this is a surety.  What is unique to this world is the level in which the media has been controlled by the elite, this we can also say for a certainty. How many avenues of media and communications are completely contained within a pyramidal structure of power, control, influence and persuasion?

Here is a real place we all can do something to begin developing the society we all have a vision of within our being.  We need to start demanding equal time for the good things that are going on all over the world.  99% of the news is doom, gloom, blood and gore, or fame and bling bling. We need to retake control of the “content” of the news.  How? Don’t watch what’s on and support any efforts for alternative media.  Let sponsors know we don’t like the unbalanced “news” we are now watching.  We want the truth about the banking scandals, the corruption of the political process, and the justice system that fails us.  We need reporters who have the journalistic integrity to demand of their employers the freedom to report what they find and see.  We need commentators that will tell it like it is.  A little like this:  Telling the Truth

Banks may be “Too Big To Fail”, But are Banksters Too Big To Jail?

As the Libor rigging scandal unfolds in the UK, it now looks like at least 20 banks world-wide have been  involved.  Iceland and now the UK are seeing and telling like it is, that this is a criminal conspiracy and those involved should be dealt with accordingly.  Let’s take a look at just ONE of the “bad boys” and review what has happened to them in the last few years. JP Morgan Chase’s “rap sheet” reads likes this:

$228 million fine of JP Morgan Chase for a bid-rigging scheme involving municipal bonds. The Chase ruling is the latest to come down in a series of fines involving a number of banks, including Bank of America and UBS. Read more:

Let’s take a look at the specific details of just one of the sanctions.  This information is directly off of the Department of Treasury site. JPMorgan Chase Bank N.A. Settles Apparent Violations of Multiple Sanctions Programs: 

JPMorgan Chase Bank, N.A, New York, NY (“JPMC”) has agreed to remit $88,300,000 to settle potential civil liability for apparent violations of: the Cuban Assets Control Regulations (“CACR”), 31 C.F.R. part 515; the Weapons of Mass Destruction Proliferators Sanctions Regulations (“WMDPSR”), 31 C.F.R. part 544; Executive Order 13382, “Blocking Property of Weapons of Mass Destruction Proliferators and Their Supporters;” the Global Terrorism Sanctions Regulations (“GTSR”), 31 C.F.R. part 594; the Iranian Transactions Regulations (“ITR”), 31 C.F.R. part 560; the Sudanese Sanctions Regulations (“SSR”), 31 C.F.R. part 538; the Former Liberian Regime of Charles Taylor Sanctions Regulations (“FLRCTSR”), 31 C.F.R. part 593; and the Reporting, Procedures, and Penalties Regulations (“RPPR”), 31 C.F.R. part 501, that occurred between December 15, 2005, and March 1, 2011. This settlement covers the following apparent violations of the CACR, WMDPSR, and RPPR, which OFAC has determined were egregious:

JPMC processed 1,711 wire transfers totaling approximately $178.5 million between December 12, 2005, and March 31, 2006, involving Cuban persons in apparent violation of the CACR.  In November 2005, another U.S. financial institution alerted JPMC that JPMC might be processing wire transfers involving a Cuban national through one of its correspondent accounts.  After such notification, JPMC conducted an investigation into the wire transfers it had processed through the correspondent account.  The results of this investigation were reported to JPMC management and supervisory personnel, confirming that transfers of funds in which Cuba or a Cuban national had an interest were being made through the correspondent account at JPMC.  Nevertheless, the bank failed to take adequate steps to prevent further transfers.  JPMC did not voluntarily self-disclose these apparent violations of the CACR to OFAC.  As a result of these apparent violations, considerable economic benefit was conferred to sanctioned persons.  The base penalty for this set of apparent violations was $111,215,000.

On December 22, 2009, in apparent violation of the WMDPSR, JPMC made a trade loan valued at approximately $2.9 million to the bank issuer of a letter of credit in which the underlying transaction involved a vessel that had been identified as blocked pursuant to the WMDPSR due to its affiliation with the Islamic Republic of Iran Shipping Lines (“IRISL”).  Although JPMC supervisors and managers determined that this trade loan was likely an apparent violation of the WMDPSR and, in late December 2009, decided to submit a voluntary self-disclosure to OFAC, JPMC did not mail its voluntary self-disclosure until March 2010, three days prior to the date on which JPMC received repayment for the loan without OFAC guidance or authorization.  JPMC also failed to respond promptly and completely to an OFAC administrative subpoena seeking information on this transaction.  OFAC determined that JPMC made a voluntary self-disclosure of this apparent violation.  The base penalty for this apparent violation was $2,941,838.

The apparent violation of the RPPR occurred between November 8, 2010, and March 1, 2011.  On October 13, 2010, OFAC issued JPMC an administrative subpoena pursuant to section 501.602 of the RPPR directing JPMC to provide certain specified documents related to a specific wire transfer referencing “Khartoum.”  In response to this subpoena and a subsequent communication, JPMC compliance management failed to produce several responsive documents in JPMC’s possession, and repeatedly stated that JPMC had no additional responsive documents.  OFAC ultimately provided JPMC with a list of multiple responsive documents that OFAC had reason to believe were in JPMC’s possession based on communications with a third-party financial institution.  This prompted JPMC to correct its prior statements that the bank possessed no additional responsive documents and to produce more than 20 responsive documents.  JPMC did not voluntarily self-disclose the apparent violation of the RPPR to OFAC.  The base penalty for this apparent violation was $250,000.

In reaching its determination that the above-referenced apparent violations were egregious because of reckless acts or omissions by JPMC, OFAC considered all of the information in its possession related to these apparent violations, as well as the General Factors Affecting Administrative Action set forth in OFAC’s Economic Sanctions Enforcement Guidelines.  OFAC determined that JPMC is a very large, commercially sophisticated financial institution, and that JPMC managers and supervisors acted with knowledge of the conduct constituting the apparent violations and recklessly failed to exercise a minimal degree of caution or care with respect to JPMC’s U.S. sanctions obligations.

This settlement also covers the following apparent violations, which OFAC determined were not egregious:

Apparent violations of the ITR, GTSR, SSR, FLRCTSR, WMDPSR, and Executive Order 13382 arising out of its failure to appropriately block or reject nine wire transfers between April 27, 2006 and November 28, 2008, which totaled $609,308.  JPMC voluntarily self-disclosed five of these apparent violations to OFAC.

Apparent violations of the WMDPSR and SSR in which JPMC advised and confirmed a $2,707,432 letter of credit on April 24, 2009, in which the underlying transaction involved a vessel identified by OFAC as blocked due to its affiliation with IRISL, and a $79,308 letter of credit on January 29, 2008, involving goods destined for Sudan.  JPMC voluntarily self-disclosed these apparent violations to OFAC.

An apparent violation of the ITR consisting of a May 24, 2006 transfer of 32,000 ounces of gold bullion valued at approximately $20,560,000 to the benefit of a bank in Iran.  JPMC did not voluntarily self-disclose this matter to OFAC.

OFAC mitigated the total potential penalty based on JPMC’s substantial cooperation, including conducting an historical transaction review at OFAC’s request and entering into tolling agreements with OFAC, and the fact that OFAC had not issued a Penalty Notice or Finding of Violation against JPMC in the five years preceding the transactions at issue.  Mitigation was also extended because JPMC agreed to settle these apparent violations.

JP Morgan Chase fined $20m for mishandling Lehman Brothers funds. Government investigation finds Wall Street giant acted improperly ahead of Lehman’s collapse in 2008.  The fine is the first for a Wall Street firm related to the collapse of Lehman, the largest bankruptcy in US history. JP Morgan was a major lender to Lehman and has been under scrutiny since Lehman’s dramatic collapse on 15 September 2008. Lehman’s creditors have accused JP Morgan of siphoning off billions from the fallen bank in the days before it declared bankruptcy.  In other charges, the Commodity Futures Trading Commission (CFTC) said JP Morgan “improperly” held onto funds belonging to Lehman’s clients after the bank went bust.

JPMorgan Chase Fined $154 million in Goldman-Like Case.  JPMorgan agreed to pay $153.6 million to end a Securities and Exchange Commission suit. The SEC alleged that the New York- based bank failed to tell investors in 2007 that a hedge fund helped pick, and bet against, underlying securities in the collateralized debt obligation they purchased. In July, Goldman Sachs paid a record $550 million for failing to inform clients in 2007 that it allowed a hedge fund that also bet against housing to help.
Read more:

The Financial Services Authority fined one of London’s most high-profile investment bankers for alleged market abuse, the latest chapter in the U.K. regulator’s growing crackdown on insider trading.  In a statement Tuesday, the FSA said it has levied a £450,000 ($718,695) fine against Ian Hannam, a high-ranking investment banker at J.P. Morgan Chase & Co., for allegedly disclosing inside information about Heritage Oil PLC in 2008. At the time, Mr. Hannam was the lead adviser to the company, which had hired J.P. Morgan to seek a potential merger partner.

This is just a small sample of what is really going on with one of the major five.  I don’t want anyone, especially JPMC to think I have something just against them, but they are only a very visible example.  Bid Rigging, Money Laundering, Insider Trading, Bribery, Extortion have all been admitted to by JPMC and NO ONE HAS GONE TO JAIL!  WTF.  Folks, we have to wake up and realize that we cannot allow criminals running our banking system.  We must start demanding criminal sanctions for these institutions, and criminal sentences for the principles involved.  Criminal sanctions should include no Federal subsidies if convicted of a felony and loss of privilege of the backing of the Federal Reserve!

I know that we can’t get legislation passed because the banksters own the CONgress.  I know we can’t expect the regulators like the SEC will take action as their employees are either revolving door people from the banksters or they simply don’t have the resources or political support to do their job.

What to do?  DOJ and more specifically the FBI needs to start doing what we expect them to do.  We know they already have enough information from their on-going investigations.  Economists such as William Black and James Galbraith have repeatedly said, we cannot solve the economic crisis unless we throw the criminals who committed fraud in jail.

Nobel Prize winning economist George Akerlof has demonstrated that failure to punish white collar criminals – and instead bailing them out- creates incentives for more economic crimes and further destruction of the economy in the future. See this, this and this.

Nobel Prize winning economist Joseph Stiglitz just agreed. As Stiglitz told Yahoo’s Daily Finance on October 20th:

This is a really important point to understand from the point of view of our society. The legal system is supposed to be the codification of our norms and beliefs, things that we need to make our system work. If the legal system is seen as exploitative, then confidence in our whole system starts eroding. And that’s really the problem that’s going on.

So it is the FBI and DOJ that needs to hear from us to take the chance and really get interested in taking back our global banking system. So what they need to hear is a loud shout from us the people to “Let’s get this party started, do the raids.”  Look’em up, Hook’em up, and Lock’em up Boys!

El Heirro Status Remains Yellow – Deformation Continues.

On the night of 24 June, a M 3.1 earthquake occurred offshore N of El Hierro island at a depth of 20 km. After that event, both the seismic activity and the deformation greatly increased. The seismicity, initially located N of the island in the El Golfo area, migrated S, then later to the W, along the E-W rift zone. On 27 June, the Plan de Protección Civil por Riesgo Volcánico (PEVOLCA) raised the Alert Level to Yellow (on a three-color, traffic-light scale) for areas near El Julan (along the SW coast) and La Dehesa; The Alert Level remained at Green for the rest of the island.

On 28 June, seismicity migrated to the SW in Las Calmas Sea and remained SW of the island, mainly offshore, until 3 July. The depth of the events was concentrated around 20 km. Since 24 June, more than 1,500 events have been located, and more than 250 of those events were M 2.7 and higher and often felt by residents. The biggest event was a M 4.4 that occurred on 2 July at 2242, located offshore SW the island, at 19 km depth. High deformation rates were measured by every GPS station on the island, reaching 8 cm in the horizontal component and about 10 cm of vertical displacement.


El Heirro represents the biggest threat of an East Coast tsunami, which could occur with less than 8 hours notice.  The last documented eruption was 550 BC and the resultant tsunami was devastating to the east coast.  There was also a questionable eruption in 1793, but documentation of that eruption is somewhat sketchy.  The NW facing 1500 m escarpment is the major concern and El Hierro is definitely due for a major eruption and for the second time in less than a year, is showing an inclination to erupt.

Geologic Summary. The triangular island of Hierro is the SW-most and least studied of the Canary Islands. The massive Hierro shield volcano is truncated by a large NW-facing escarpment formed as a result of gravitational collapse of El Golfo volcano about 130,000 years ago. The steep-sided 1500-m-high scarp towers above a low lava platform bordering 12-km-wide El Golfo Bay, and three other large submarine landslide deposits occur to the SW and SE. Three prominent rifts oriented NW, NE, and south at 120 degree angles form prominent topographic ridges. The subaerial portion of the volcano consists of flat-lying Quaternary basaltic and trachybasaltic lava flows and tuffs capped by numerous young cinder cones and lava flows. Holocene cones and flows are found both on the outer flanks and in the El Golfo depression. Hierro contains the greatest concentration of young vents in the Canary Islands.

The triangular island of Hierro is the SW-most and least studied of the Canary Islands. The massive Hierro shield volcano is truncated by a large NW-facing escarpment formed as a result of gravitational collapse of El Golfo volcano about 130,000 years ago. The steep-sided 1500-m-high scarp towers above a low lava platform bordering 12-km-wide El Golfo Bay, and three other large submarine landslide deposits occur to the SW and SE. Three prominent rifts oriented NW, NE, and south at 120 degree angles form prominent topographic ridges. The subaerial portion of the volcano consists of flat-lying Quaternary basaltic and trachybasaltic lava flows and tuffs capped by numerous young cinder cones and lava flows. Holocene cones and flows are found both on the outer flanks and in the El Golfo depression. Hierro contains the greatest concentration of young vents in the Canary Islands. Uncertainty surrounds the report of an historical eruption in 1793.

East Coast residence are all focused on the tremendous heat and power loss at the moment and I understand hearing about a potential tsunami is the last thing you want to hear, but this is a potential reality and you should pay close attention at least for the next few weeks.

Solar Flare Activities- Status Upgraded to RED – 6 July 2012

We have had an M6.1 and an X1.1 today.  A major X1.1 Solar Flare was detected at 23:08 UTC. This event triggered a 10cm Radio Burst and a Type IV Sweep Frequency Event. More updates to follow should a Coronal Mass Ejection (CME) be associated.  A two minute 10cm radio burst indicates that the electromagnetic burst associated with a solar flare at the 10cm wavelength was double or greater than the initial 10cm radio background. This can be indicative of significant radio noise in association with a solar flare. This noise is generally short-lived but can cause interference for sensitive receivers including radar, GPS, and satellite communications. You can get full real-time information at Solarham.

In addition, the old 1504 system is now rotating into view on the Southeastern limb and looks more magnetically complex than before.  It seems we will be experiencing increasing activity during the next several days. There will continue to be a chance for another strong solar flare on into the weekend.

Event Probabilities 07 Jul-09 Jul

Class M    80/80/80     Class X     25/25/25     Proton     10/10/10    PCAF       green

Penticton 10.7 cm Flux

Observed           06 Jul                    158

Predicted           07 Jul-09 Jul     165/160/155

90 Day Mean     06 Jul                  122

Geomagnetic Activity Probabilities 07 Jul-09 Jul

A.  Middle Latitudes

Active    30/45/20       Minor storm   10/15/05      Major-severe storm    01/01/01

B.  High Latitudes

Active   15/10/15     Minor storm  30/30/30    Major-severe storm  45/55/30

So we would again strongly advise both communication and power delivery activities monitor this situation closely over the next few days. Unshielded electronic devices may also be affected in the high latitude regions.

Solar Flare Activities- Status Yellow – 5 July 2012

During the past 48 hours, solar activity has increased significantly.  Since we monitor this activity on a routine basis, this seems to be significant enough to elevate our watch status to yellow.  You can get full real-time information at Solarham.  While the activity is not significant enough to cause a major concern for an associated significant EMP event, certainly radio and satellite communications disruptions, especially in the high latitude areas could occur.

CME Update: The Coronal Mass Ejection (CME) caused by the eruption around Sunspot 1513 is Earth directed according to the latest CME model run. An impact will be possible by early on July 8th. Should this CME sweep past our planet, geomagnetic storming will be possible at high latitudes.

Solar activity is currently at high levels with multiple M-Class flares detected around Sunspot 1515, including an M5.3 event on Wednesday morning. Sunspot 1513 in the northern hemisphere also produced an M1.8 event on Wednesday afternoon. Numerous Coronal Mass Ejections are seen in the latest STEREO Behind COR2 images, but none appear to be directed towards Earth. There will remain the chance for a strong solar flare. Two new sunspots did rotate into view off the eastern limb, including one region that looks to be the return of old sunspot 1507.

Event Probabilities 05 Jul-07 Jul

Class M:    80/80/80        Class X:    25/25/25       Proton:     10/10/10      PCAF:       green

Geomagnetic Activity Probabilities 05 Jul-07 Jul

A.  Middle Latitudes

Active:   25/20/25              Minor Storm:  05/05/05          Major-severe storm:    01/01/01

B.  High Latitudes

Active:   15/15/15               Minor storm:    30/15/30          Major-severe storm: 30/10/30

So we would strongly advise both communication and power delivery activities monitor this situation closely over the next few days. Unshielded electronic devices may also be affected in the high latitude regions.

Fast and Furious Goldman Sachs – The Tip Off of Why Issa is Attacking Eric Holder

Eric Holder and DOJ have been conducting an on-going investigation of the five major banks and investment firms and potentially a coordinated criminal conspiracy to rig both LIBOR and EURIBOR interest rates.   The most significant thing you need to understand about these rates is that they are the basis which firms like Goldman Sachs uses to determine fees for credit default instruments.  The total exposure of the banks, investment firms and hedge funds is nearly $800 trillion dollars! The information uncovered by the DOJ investigation was shared with UK regulators and this week the CEO of Barclays has resigned instead of facing the Parliament’s Treasury Select Committee. “This is the most damaging scam I can recall,” said Andrew Tyrie, chair of parliament’s Treasury select committee. “It appears that many banks were involved and Barclays were the first to own up.”

The interest rate rigging scandal that has engulfed Barclays was the result of a coordinated attempt at collusion by traders working for a coterie of leading banks over at least five years, according to a series of lawsuits and legal rulings filed in courts in Asia and North America.

The lawsuits allege the fraud was extensive, spanning at least three continents and involving trades worth tens of billions of pounds. The allegations raise further serious questions about the banks’ ability to police themselves and the role of senior management in monitoring the activities of their employees.

In a 28-page statement of facts relating to last week’s revelation that Barclays had been fined a total of £290m, the US Department of Justice discloses how a network of traders working on both sides of the Atlantic conspired to influence both the Libor and Euribor interest rates – the rates at which banks lend to each other. It was, in effect, a worldwide conspiracy against the free functioning of the market.

Here is where it gets really interesting, as reporter Lee Fang writes in, Think Progress reports “Exclusive: Goldman Sachs VP Changed His Name, Now Advances Goldman Lobbying Interests As Top Staffer To Darrell Issa .”

Fang reported, “ThinkProgress has found that a Goldman Sachs vice president changed his name, then later went to work for Issa to coordinate his effort to thwart regulations that affect Goldman Sachs’ bottom line.” The former Goldman Sachs vice president Fang was referring to is Peter Simonyi, now known as Peter Haller.

Imagine that for a minute, a Goldman Sachs operative as a top congressional staffer, lobbying for Goldman Sachs, in this case to block strengthening Dodd-Frank regulations on derivatives. Issa’s wish is exactly the banks’ wish, to weaken the legislation so Wall Street’s Derivatives Casino can keep its stakes up.  Fang asks, “Has Rep. Darrell Issa (R-CA) turned the House Oversight Committee into a bank lobbying firm with the power to subpoena and pressure government regulators?”

In fact, “In July 2011, Issa sent a letter to top government regulators demanding that they back off and provide more justification for new margin requirements for financial firms dealing in derivatives. A standard practice on Capitol Hill is to send a letter to a government agency with contact information for the congressional staffer responsible for working on the issue for the committee. In most cases, the contact staffer is the one who actually writes such letters. With this in mind, it is important to note that the Issa letter ended with contact information for Peter Haller, a staffer hired that year to work for Issa on the Oversight Committee.”

Pretty diabolical scheme: deflect Issa’s corrupt lobbying techniques to emasculate oversight, by ferreting out a DOJ scandal to cover the Democrats with the Fast and Furious scandal, burying the larger scandal of planting a Goldman operative in Congress to lobby for soft laws on derivatives. The Fast and Furious scandal is nowhere near the magnitude of the Goldman Sachs operative scandal, with the add-on that Goldman has succeeded in getting the U.S. attorney general held in contempt and at the same time discredited Obama for using his presidential override of the charge.

Lee Fang writes, “Issa’s demand to regulators is exactly what banks have been wishing for. Indeed, Goldman Sachs has spent millions this year trying to slow down the implementation of the new rules. In the letter, Issa explicitly mentions that the new derivative regulations might hurt brokers ‘such as Goldman Sachs.’

“Haller, as he is now known, went by the name Peter Simonyi until four years ago. Simonyi adopted his mother’s maiden name Haller in 2008 shortly after leaving Goldman Sachs as a vice president of the bank’s commodity compliance group. In a few short years, Haller went from being in charge of dealing with regulators for Goldman Sachs to working for Congress in a position where he made official demands from regulators overseeing his old firm.

“It’s not the first time Haller has worked the revolving door to help out Goldman Sachs. According to a report by the nonpartisan Project on Government Oversight, Haller—then known as Peter Simonyi—left the Securities and Exchange Commission (SEC) in 2005 to work for Goldman Sachs, then quickly began lobbying his colleagues at the SEC on behalf of his new firm. At one point, Haller was requiring [sec] to issue a letter to the SEC stating that he did not violate ethics rules and the SEC agreed. A brief timeline of Haller’s work history underscores the ethical issues raised with Issa’s latest letter to bank regulators:

“● After completing his law degree in 2000, Haller was employed by Federal Energy Regulatory Commission as an economist, and later with the Securities and Exchange Commission in the Office of Enforcement.

“● In April of 2005, Haller resigned from the SEC to take a job with Goldman Sachs. Although he was not a registered lobbyist, he soon began lobbying the SEC on compliance issues on behalf of Goldman Sachs.

“● In 2006, Haller left Goldman Sachs, according to a Goldman official who spoke to ThinkProgress.

“● In 2008, he took a job with the law/lobbying firm Brickfield Burchette Ritts & Stone.

“● In January of 2011, Haller was hired to work for Issa on the Oversight Committee. Under the supervision of Haller, Issa sent a letter dated July 22, 2011 to bank regulators (including the heads of the Federal Reserve, FDIC, FCA, CFTC, FHFA, and Office of Comptroller) demanding documents to justify new Dodd-Frank mandated rules on margin requirements for banks dealing in the multi-trillion dollar OTC derivatives market, like Goldman Sachs.”  This resume embodies everything that is wrong with the financial industry.

So much for Haller; now back to Issa. “When he took over the chairmanship of the Oversight Committee this year, Issa dramatically shifted the committee’s focus away from its traditional role of investigating major corporate scandals. Instead, Issa has used the committee to merge the responsibilities of Congress with the interests of K Street and Issa’s own fortune.” In some way he spelled out his own end by doing this.

“In June of this year, ThinkProgress broke the story about Issa’s own complicated relationship with Goldman Sachs. [They] revealed that Issa purchased a large amount of Goldman Sachs high yield bonds at the same time as he used the Oversight Committee to attack an investigation into allegations that Goldman Sachs had systematically defrauded investors leading up to the financial crisis. This conflict of interest, along with ThinkProgess’s exclusive story about Issa’s earmarks benefitting his own real estate empire, received coverage in a recent piece by the New York Times.

ThinkProgress also broke a story last month revealing other revolving door conflicts within Issa’s staff. Peter Warren, Issa’s new policy director, maintains some type of financial contract with a student loan lobbying group he led last year, and received a bonus from the lobbying group before leaving to work for Issa. Since joining Issa’s staff, Warren and his colleagues have fought to weaken the recently created Consumer Financial Protection Bureau, the new agency charged with overseeing student loans.

“The new revelations about Peter Haller, however, raise even more significant ethical concerns than Peter Warren and other ex-lobbyists working for Issa. Why did Issa hire a high-level Goldman Sachs executive to work on stopping regulations on banks like Goldman Sachs? Haller’s direct involvement in the July letter brings Issa’s ability to lead the Oversight Committee—charged with conducting investigations on behalf of the public interest—into serious doubt.”

It also explains why President Obama did invoke executive privilege concerning Issa’s Fast and furious investigation and the unusual actions of the Democratic Caucasus walking out on the vote. There is no doubt that the banksters are running scared and acting in such desperate manners.  There are literally billions of dollars of exposure here and REAL criminal activity.  The fact that it could extend to congressmen and senators is even more revealing.  To those who are involved and/or have knowledge of the activities should at this moment consider hard what the future may hold for them when this whole scheme unfolds in MSM.  This may be your last chance to save your butts.  Act now or do the PERP walk tomorrow, your choice.