The Washington Press Corps - the New Age Idols and Idol Makers

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Have you ever heard the expression "you've lost your compass", meaning you have lost your way? Well when it comes to the news media corps in our nation's capitol it seems their compass is hopelessly lost in the Bermuda Triangle. That's where the needle of the compass just starts spinning.



I've worked in Washington for the Office of the President and for Congress and spent some time with different federal agencies. Then I worked in Washington with private corporations and not as a lobbyist which means I've lost a lot of potential revenue.

For the past couple of years I have been observing Washington and my focus has been on the news media and whether they really fulfill their role as the eyes and ears of America. Such a romantic thought, that the journalists in the news media were protecting the nation from the crooks in Washington and on Wall Street.

Let me tell you my conclusions. First, there are a few good journalists there who really try to act like the news media of the old days, seeking out truth and reporting objectively. Unfortunately they are few and far between.



There is a new standard for news media in our capitol just as there are new standards for politicians, Wall Street executives and special interest groups. Today's media seem to spend more time interviewing each other on the many news, talk and entertainment shows than they spend interviewing real news makers.



What is with that? Since when did the reporters become the stars? At what point did they acquire the audacity to believe they were the news makers? Fox, MSNBC, CNN and even the network news shows have far more so called reporters as guests than real opinion makers.



And speaking of objectivity, when reporters speculate on what is going to happen in the future, like Chuck Todd, White House correspondent for NBC and MSNBC did recently when he said what would happen in the Florida Senate race that is not over until November, it makes you wonder at what point did the news corps become their own source for information.



Just how objective can Chuck Todd be if he is predicting the outcome of a story? Wouldn't that influence him to report the story in a way that makes him look right? Far worse, of course, are the many made for television reporters whose liberal or conservative views dominate anything they report on. If partisanship is bad for politics as Obama likes to say, then ideologically slanted reporting is the death knell for news journalism because almost every reporter who is leaning to the right or left has lost their ability to be objective.



I often wonder if the current courses for journalism in college might not include classes like make up, camera awareness, how to write a book with no experience and nothing to say, battling for the anchor's seat, charisma and charm and of course, finding the right dentist for maximum whiteness. Come to think of it, with the time today's reporters spend on camera they might need acting courses as well.



Then there are the editorial journalists, the self-proclaimed sergeant in arms for discipline of the ranks, the self-perceived "Chosen One" to keep the people's philosophy in line. Truth has little to do with the field of ideological warfare. More entertainer than journalist, at least these types seldom claim objectivity.



While the TV journalist is required to write and possibly sell books, the editorial journalist is expected to crank out books, coffee mugs, do live, stand up on stage appearances, and generally whatever it takes to whip the true believers into a frenzy. They are also required to complete basic evangelizing courses.



Those claiming to be reporters who do television interviews, not of news makers but them being interviewed by the many so called news and opinion shows who can't get quality guests, also seem to belong to the club of "longing to be loved by celebrities and politicians".

As professional name droppers whose standing is measured by whether they are on a first name basis with the White House Chief of Staff, Rahm Emanuel, they are sent into long periods of depression if they aren't invited to the most expensive affairs of the Washington elite. To them success is measured not by winning a Pulitzer prize but by Obama knowing their name or a backstage pass to meet Sting.



If the journalists were doing their jobs the economic collapse would have been known ahead of time, the crooks who caused it would have been exposed, politicians would no longer be able to lie to the press, illegal influence of special interests would have been exposed long ago, and perhaps we would have known the truth. As it is, the only truth we may find is with the citizen journalists blogging their stories while the paid news media is getting smashed at the latest White House gala.

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Day After Earth Day Update

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Now that we have honored Earth Day it is time to take a look back at our non-earth activity. First, we reported in an earlier issue of CPT about the strange sky circle that I photographed from my front porch here at Coltons Point. The pictures looked like this.





Well I was not alone as there were other sky circles seen around the world. Here are video reports from YouTube.com of ones in Moscow, Russia and Syracuse, Utah.





So what does it all mean? Who knows? But I also showed the zoom
on one of the contrails that cut through the sky circle and there was a silver ball, not a plane causing the trail. This is what it looked like.



In my earlier report I told about the greatest flurry of UFO sightings in America that took place along the Potomac south of Washington, DC in 1952 and it was well documented by the Air Force and Andrews Air Force Base just up the road from me. The military reports talked of silver spheres shaped like balls.

Now take a look at recent NASA video of the sun, using some of the new camera technology. Hummm, there appears to be silver balls observing the sun where it should be too hot for anything to exist.



Maybe we should add an Unearth Day the day after Earth day. At a minimum it is a rather humbling thought. Finally I have been writing about increased sun spot activity and the changes in our weather. Yesterday NASA released the newest camera shots of the sun and we are finally getting exceptional shots of the sun spots.



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Earth Day Today - 40th Anniversary - Americans Do Care

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It is the 40th anniversary of Earth Day when attention is focused on what needs to be done to protect the environment but we should not lose track of what has been done already even before Earth Day became popular. The reason I say that is much of the environmental progress in America has not come from federal government initiatives but the creative genius of local states, cities and people.



I can remember back about 50 years ago when my high school class in Iowa decided to transform an island overgrown with weeds that had been used as a dump site for decades into our own private beach and boating area. We spent two years cleaning, clearing and moving the tons of debris from the woods and water to make it a place we could go to get away from it all. To this day it remains a centerpiece for the city.



Later in Omaha, Nebraska I worked with the Mayor's Office on nationally recognized programs to Keep Nebraska Beautiful, a riverfront development program that transformed former warehouse districts, contaminated railroad yards, former metal plants and stockyards into nationally recognized projects that helped transform Omaha into a model and vibrant city today where it remains the home of Warren Buffett.



Also in Omaha we worked with Father Flannigan's Home for Boys, the world famous Boy's Town, on creating a farm using only natural products for fertilizer, pest control and land restoration. It was successful in demonstrating that crop yields from natural farming could equal the yields of chemicals.



While in Omaha the mayor and I worked on the riverfront development program and during the 1970's oil crises by OPEC we set up a solar energy company that put solar systems in several hundred homes and small businesses across the country. We were able to get the help of major corporations like Goodyear Tire and Rubber, Pittsburgh Plate Glass, Dow Chemical and Phillips Petroleum to make our patented components. It was highly successful until congress eliminated the solar tax credit when oil prices fell.



While working for the Executive Office of the President and Congress in Washington I helped set up first the Federal Energy Agency, later upgraded to the Department of Energy, and worked on a number of legislative bills to manage energy, promote conservation and reduce oil dependence.

When I worked for Governor Thomas Kean of New Jersey in the 1980's we launched a series of nationally recognized environmental initiatives including the first statewide mandatory recycling program, whose stunning success eliminated the need for 19 massive incinerators in the state to process solid waste.



Working with New York we were able to eliminate offshore ocean dumping and eventually to permanently close down the Fresh kills landfill on Stanton Island, formerly the largest landfill in the world and a major source of beach and water pollution along the New Jersey oceanfront.

We adopted the first state energy master plan, the first in the country to block future nuclear plants until all existing plants had decontamination programs for shutting down old plants and restoring the land and until there was a nuclear waste disposal plan. America is still debating nuclear waste disposal.



The first statewide land use and preservation plan was adopted in New Jersey limiting growth in areas and initiating an aggressive plan to protect up to 20% of all New Jersey land from future development. Since New Jersey is the most densely populated state in America this was a massive and controversial undertaking. At the same time we implemented one of the first farmland preservation programs that bought future development rights to protect thousands of acres of farm land in the Garden State.



The Governor also launched an ambitious program to acquire thousands of acres for parks and recreation including 18,000 acres for the Sterling Forest bordering New York, reclaiming Hudson River waterfront for Freedom and Liberty Parks, reclaiming Delaware River waterfront for parks, and many other initiatives.

We were also one of the first states to sue oil companies and won millions of dollars in court settlements for the state. A company in New Jersey owned the Three Mile Island nuclear plant and we were involved in the clean up process from the 1979 accident, the biggest nuclear disaster in America. We were also one of the first states to implement the new EPA Super Fund program cleaning up toxic sites.



In the mid 1990's, after the 1986 tragedy of the Chernobyl nuclear explosion in the Ukraine (then the Soviet Union), I got to meet the children of Chernobyl in Scotland in one of the most humane programs I have ever witnessed. The kids contaminated with radiation in the disaster, and thousands were contaminated, were still living in the danger zone years later with high rates of cancer and often a short life ahead. It has been suggested that the Chernobyl disaster released as much as 400 times the radioactive contamination of the Atomic bombings of Hiroshima and Nagasaki.



Countries in Europe that were victims of contamination themselves set up programs to bring the Chernobyl children for vacations in Scotland, the UK, Ireland, Germany and other nations. If the kids spent a couple of weeks a year in these countries it actually extended their life expectancy by a year or more. I met a group in Scotland and was amazed at the courage and spirit of the children and the act of compassion by the Scots and others.

Now I find myself in Maryland on the Potomac River not far from the Chesapeake Bay where pollution remains a problem, especially the contamination of the rivers and bay. It has cost the area much of the fishing, crabbing and oyster industries of the watermen while contaminating the waterfront from human and farming waste like fertilizers and pesticides. After converting my home to a green model and putting a nitrogen reduction septic system in I found yet another example of environmental concern.



One day I was called by neighbors because a Bald Eagle was injured. We have about nine Bald Eagles living in our village. When the Eagle was blown off a dock into the Potomac it did not have the strength to swim so into the river I went and grabbed the eagle when water was just about to my neck. After getting it to shore and having it taken to a Bald Eagle rescue center in Delaware I learned it was sick from eating contaminated fish from the river, lead poisoning. It was healed and I got to release it back into the wilds.

My point of all this is in most of the activities I outlined over the years we were not forced to do the things that were undertaken. It was not orders from the federal government that led to the creation of programs to meet our needs but the initiative of local citizens working with schools and professionals because of their personal concern for a clean environment. Never underestimate the value of people discovering and solving some of our major problems because it is the right thing to do. That is the secret strength of Americans and our hope for the future.

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Could Goldman Bring Down the Obama Gang and the Republicans?

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As Obama turns up the heat on financial reform and Republicans resist the financial reform bill proposed by Senator Chris Dodd a dangerous game is being played in Washington. Polls just came out that show three fourths of all Americans do not trust the government. With the partisan nature of debate in the capitol and the propensity of the Obama White House to call for bi-partisanship while attacking anyone who questions the partisan Democrats, is it no wonder the public trusts no one?



Then along comes the SEC with fraud charges against the king of the banking community Goldman Sachs. Goldman, the perfect target for venting American frustration with the motives and interests of the banks and their apparent total disregard for public opinion as noted from their multi-billion dollar bonuses, occupies a most unusual position in politics.

First there is the self described mission of the CEO Lloyd Blankfein as told to John Arlidge of the TimesOnline. As John wrote:

So, it’s business as usual, then, regardless of whether it makes most people howl at the moon with rage? Goldman Sachs, this pillar of the free market, breeder of super-citizens, object of envy and awe will go on raking it in, getting richer than God? An impish grin spreads across Blankfein’s face. Call him a fat cat who mocks the public. Call him wicked. Call him what you will. He is, he says, just a banker "doing God’s work"

"Just a banker doing God's work." One wonders what God he is referring to when making such an outrageous statement. Was it Yahweh or Ba'al and was it the Hebrew Ba'al or Christian Baal? Most people would believe the only God Goldman is working for is a false god or idol and we know what kond of agenda that god is pursuing.



Still Goldman, after watching and most likely contributing to the destruction of two of their major competitors, Bear Stearns and Lehman Brothers, and then getting the Federal Reserve to change a long standing policy and allow Goldman to change from investment bank to commercial bank thus allowing them to feed at the trough of almost no interest government money while continuing to invest in high risk deals, is in a league of its own in world banking.



A frequent collaborator with the most powerful and secret banking family in history, the House of Rothschild and their army of surrogates, Goldman is the most visible bank in politics of all time. It may just be that this penchant for publicity and obsession with power on the part of Goldman has put them on a collision course in their desire to remain king of the hill.



Now the danger to politicians is greater than ever regarding their association with Goldman or any effort that could be perceived to protect Goldman during debate on the financial reform bill. To begin to understand the problem consider the following as reported by OpenSecrets.org under the Center for Responsive Government:



Top Political Contributors in federal elections since 1989

AT&T, Inc. $44,361,209.
American Fed of State, County & Muni Employees $42,248,261
National Association of Realtors $35,733,073
Intern Brotherhood of Electrical Workers $31,660,630
American Assn for Justice $31,645,679
Goldman Sachs $31,612,375
National Education Assn $30,194,067
Laborers Union $29,132,400
Service Employees Union $28,134,482
Teamsters Union $28,029,624

Note that the American Association for Justice is the new name for the Trial Lawyers Association which gives 91% of their money to Democrats. Goldman, one of only two private companies on the top ten, normally gives 64% of their money to Democrats but gave 74% to Democrats during the Obama campaign. For all intents and purposes 8 of the top 10 contributors the past 20 years are unions.



So Goldman stands alone in pouring money into federal campaigns. But Goldman bundlers also raise money from others in their related industries so Commercial Banks contributed $222 million, Securities and Investment firms $628.9 million, Finance and Credit $59.8 million, and Insurance $327.3 million. That is well over a BILLION DOLLARS over 20 years.

If conflict of interest laws applied to congress most members could not vote for anything related to Goldman Sachs because of campaign contributions. By alas, such rules do not exist. However, in the interest of transparency and integrity all politicians should divulge their relationship with Goldman including the money donated directly and indirectly through Goldman and their dealings with Goldman as a favored special interest in Washington.

This includes an account of the involvement of Goldman from the Clinton presidency days when Goldman executives working for Clinton including Robert Rubin and Larry Summers, Clinton Treasury Secretaries, and Rahm Emanuel, chief Clinton fundraiser, were involved in changing federal regulations that allowed Goldman to capitalize on derivatives, swaps, and oil futures along with moving transactions outside the US so they could not be regulated.



These financial vehicles were adopted in 1999, the last year of Clinton's presidency, and opened the floodgates to hedge fund and others to manipulate the housing, oil, commercial real estate and commodities markets and nearly caused a worldwide depression. Just this week former President Clinton said he regretted allowing his economic advisors to make the federal rule changes. All three of the Clinton economic advisors from Goldman's are now key economic advisors to Obama.

As for transparency, if Obama intends to use Goldman's as a scapegoat then he needs to disclose his long association with Goldman as well. Dating back to his campaign for US Senate in 2004 there are questions regarding his involvement with Goldman including did they pay off the leading candidate in the Democratic primary against Obama and the Republican in the general election when they withdrew from the race for personal reasons? Also what was discussed in private corporate meetings with Obama in 2006 and 2007 in Chicago and NYC?

Finally there are the potential conflicts for the many former Goldman executives throughout the Obama administration and international financial community. Is the government protected from any actions that might benefit Goldman?

As for the Republicans, they risk being perceived as the protectors of Wall Street if they simply vote against the Senate financial reform bill. The mistrust of the public toward Washington will only be reinforced if they block the vote. They must offer a more substantial alternative than what Obama is offering that will effectively control the Wall Street abuses.

Doing nothing 2-3 years after the crash will cost them dearly in potential political gains as the public is waiting to see what congress and Obama can do in light of their cozy relationship with Goldman and other Wall Street firms.

Finally, both Obama and the Republicans can hurt themselves if they support any actions to dilute the impact of legal actions against these firms as more and more charges are filed. If they do not condemn any plea bargains that allow the companies to avoid an admission of guilt and to expense the cost of the fines then they should be held accountable. The actions of the financial community from 2007-2009 cost Americans $29 trillion in lost savings. Someone must pay for these damages.

So you see, both Obama and the Republicans can lose a lot more than they gain if they do not play by the rules, do what is good for America, and tell us exactly their relationship to Goldman. If they don't, then both sides could be a big loser.

Goldman Fraud Charges to Test Obama Administration Morality, Ethics & Transparency

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The first salvo of taking America back from the clutches of greed and corruption was launched by the SEC with fraud charges against Goldman Sachs but this is just the opening salvo of what could be a long, drawn out legal battle to bring morality where it is needed most, in the financial affairs of Wall Street.

The reason is because cleaning up the mess entails more than making a few scapegoats out of corporate executives and the multi-million dollar bonuses. What is really needed is to expand the legal actions to include all of those former Wall Street executives who went to work for the government and led America down the path of self-destruction.



Greed was as much a motivator for government employees as it was for Wall Street crooks and campaign contributions and kickbacks were the tools that bought off government protection from these master thieves.

Even former President Bill Clinton had a mea culpa of sorts this weekend when he said he was wrong in letting his former Treasury Secretaries, namely Robert Rubin and Larry Summers, create the regulatory laws that opened the floodgates to corruption, fraud, conflicts of interest and ethics violations that brought about the collapse of the economy.



Just before Clinton left office his economic advisors, with the help of Wall Street, changed the rules of the game and created layer after layer of unregulated opportunities on Wall Street. The sub-prime mortgage market was just one of many. But it took more than Wall Street to hoodwink the public, it took government insiders and congressmen that could be bought off.



Then there was the curious case of Rahm Emanuel, yet the same Emanuel serving as the most important advisor to Barack Obama, who was also Clinton's chief fund raiser all the way back in 1992, who was hired by Clinton to raise money while being paid $3,000a month by Goldman Sachs for consulting.

The Emanuel, Rubin and Summers trio remained with Clinton throughout his presidency and were the movers behind the NAFTA treaty and Mexican Peso crisis, both of which lined the pockets of Goldman. This was before the secret regulatory reform by the same trio that opened the floodgates to derivatives and swaps used to fuel the sub-prime fraud.



Then Emanuel was placed on Freddie Mac's Board by Clinton where he was paid $350,000 as the two government funded housing programs put up the funds for the housing scam. The SEC action against Goldman is just the tip of the iceberg.

Senator Chris Dodd, the indignant Senator who is retiring because of the mess in DC is another player and cohort of the insiders who steered the government into the hands of Wall Street. In his case he benefitted from illegal mortgage loans at highly favorable rates and millions in campaign contributions from these same firms destroying our economy.



Yet we have only begun the process of cleaning out the mess. All the players are still inside the Obama White House as paid staff or key advisors. Many details about Obama's own relationship to Goldman Sachs are yet to be revealed.

Did he know his key advisors spent almost two decades putting in place the regulations and deals to destroy the housing market? What role did Emanuel and Goldman play in buying off Obama's two major challengers in the US Senate race in Illinois when both the top Democrat in the primary and top Republican in the general election mysteriously withdrew for personal reasons opening the door for the unknown State Senator to explode on the national political scene. Remember that the unknown Obama was the featured speaker at the Democratic Presidential convention in 2004 while he was the underdog candidate for Senate.



What about the secret meetings between Obama and Goldman executives in Chicago early in his presidential campaign, or the secret practice debate Goldman arranged with Tom Brokaw of NBC in NYC during the presidential campaign?

With Obama still surrounded by Goldman people should he protect his own integrity by ordering them to stay out of the investigations, and many more are to come, and recluse themselves from any action that might benefit Goldman and other Wall Street firms? It would seem to be the only way to clear the record and protect the public from them influencing actions by federal agencies as well as policy, programs and regulatory initiatives that might unfairly benefit the institutions.



At the same time someone honest in Washington, if there are such people left, should demand that any congressmen or Obama administration officials receiving funds for special interest campaigns or political campaigns should also recluse themselves from participating in any actions impacting on these firms if the firms are being investigated for fraud.

Money runs deep in DC. There is a direct deposit line between Wall Street and the offices of president and congress. The surviving financial institutions like Citigroup, JPMorgan Chase, Goldman Sachs, Bank of America and Morgan Stanley spent more than $21 million lobbying Congress last year, according to the Center for Responsive Politics.



They also employed plenty of Washington's brand name lobbyists to work their influence, including: former House Democratic Leader Dick Gephardt; Steve Elmendorf, a former top Gephardt staffer; Chuck Brain, former President Bill Clinton's top lobbyist; Ken Duberstein, a chief of staff in the Reagan White House; and Tony Podesta, a prodigious fundraiser close to the Obama administration and much of the Senate Democratic caucus.

As more charges are released and attention moves from housing to oil futures to credit markets to debt financing for foreign governments there will be pressure on the investigative agencies to plea bargain the cases, a standard practice in the past. This will amount to no more than a reward to these firms as they can avoid responsibility for what they are charged by not admitting guilt, thus protecting themselves to some degree from civil actions by the investors who lost billions of dollars.



For example, the SEC action against Goldman, if plea bargained, will not recover the $1 billion in investor losses that resulted from the fraud. If Goldman can afford to pay $25 billion in bonuses they can certainly repay $1 billion in losses.

The media thinks the Wall Street mess will be used for political advantage. Of course it will, it is a case of the politicians being just as guilty as the Wall Street executives. The politicians share the guilt and must not be overlooked.

But if the Obama administration agrees to plea bargains they will still be guilty of aiding and abetting the crooks. Obama, in the interest of his much ballyhooed transparency, needs to get transparent real fast and explain his role with Goldman and other financial institutions dating back to his Senate race, he needs to get transparent and release all documents, memos and emails from the Goldman gang in the White House including Emanuel, Summers, Rubin, and the many other staff in the White House and Treasury who worked for Goldman and were still benefiting from stock and dividend payments from the behemoth, and he needs to denounce the plea bargain as a tool for settling cases involving billions of dollars of damages from fraud.

We have not even begun to scratch the surface of the depth of the moral bankruptcy in America and we need to move fast and furious to make sure it does not engulf our politicians in an ever growing web of deceit and deception. We can not let them forget the millions of lives hurt by the actions, the billions of dollars lost to them, and the pain and suffering from people around the world who were victims.

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SEIU President Stern Resigns Under Cloud of Suspicion

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The darling of the Obama White House, the guy who claimed he steered over $60 million into Obama's presidential campaign, and the guy who has used the White House as a revolving door since Obama first took office, Andy Stern, self-proclaimed King of the Labor Bosses, was forced out of office.

Now to listen to the liberal media who love Stern, another of those '60's radicals (SDS) who seem to gravitate to Obama, you would think he walked on water. He said he finished his mission, getting health care approved. I've been telling you all along that big bucks from the labor bosses keeps the congress in line. But for Stern to take credit for getting health care approved seems quite suspicious to me.

More than likely it has more to do with the loss of faith in him by his union members. You see, unlike most union federations in the country who spent years building their membership, the SEIU under Stern decided to take all the shortcuts. If you didn't want to build your union then the only option was to steal your new membership from another union.



At a time when union membership was decreasing nationwide Andy was increasing the SEIU base by raiding other unions. Then stacking those union leadership positions with his people. I suspect the members of those unions who moved from the AFL-CIO or Teamsters to the SEIU found out all too soon they were pawns in a much bigger game being played by the leadership.

Just recently the California health locals who were snatched by Sterns into the SEIU voted, for the first time, to reject the Stern slate of candidates and install their own citing the lack of concern by SEIU for membership issues.

While the media seemed to embrace Stern more and more as he dominated the list of people visiting Obama White House, the union membership was watching their investment in the new president go up in smoke. After a flurry of executive orders by the president to aid unions, and the massive protection of union assets in the auto industry takeover, progress ground to a halt.



The coveted "card check" bill stalled in congress along with other legislative initiatives. Union job losses continued in the auto industry in spite of the GM buy out. Those labor health insurance "Cadillac" policies finally got out of federal taxes, but only until Obama leaves office.

Once again our president seems to have messed up the vetting process of screening the background of his appointees. First he appoints his good friend Andrew Stern to the National Debt Commission. Not a bad payback for the $60.7 million Stern claimed his union invested in getting Obama elected. Of course federal campaign records show he invested $38.2 million through two SEIU groups, meaning $22.5 million in Obama expenditures by the SEIU are hidden from federal reports.

This is the National Debt Commission that was rejected by Congress but created by Obama with an Executive Order to circumvent the will of the Congress. Once again the president has proven that he does not care what Congress or the Supreme Court say, he will do what he wants. The use of Executive Orders and appointments of staff when congress recesses is a cause of great concern to conservatives.

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Goldman Sachs Sacked by SEC - Did the Rothschilds Finally Cast Them to the Winds?

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Three Year Quest by the CP Times Gains Momentum!



In a stunning development in the political and financial scene, today as you will learn from the following AP story, Goldman Sachs will have their day in court to prove they were not guilty of manipulating the housing market and helping to cause the collapse of the economy.



The Coltons Point Times first accused Goldman Sachs of manipulating the international markets in an illegal and unethical fashion in January of 2007, over three long years ago. By early 2008 we called for SEC action to charge Goldman with fraud in the housing and oil markets through the use of derivatives and swaps. Many articles about Goldman and their manipulation of housing mortgages, banks, oil futures, insurance companies and even the global warming community have appeared in the CPT.



We have also continuously reported on the millions of dollars Goldman was pumping into the Obama presidential campaign as well as the many things Goldman did to help get Obama elected starting in 2004. In addition we have published articles on all the Goldman alumni in the Obama administration and spread throughout the international banking community.



Today the SEC announced the first of their legal actions against the Goldman fat cats who cost us our 401K plan and housing losses while making billions of dollars off our suffering. Right now the SEC is running about four years behind in investigations but just maybe this will start the avalanche of criminal charges against the banking behemoth.



Now we all know Goldman has former execs throughout the Obama administration and financial world so don't be surprised if Goldman seeks a plea bargain which means they will pay a huge fine (though just a small fraction of what they profited) but not admit guilt. Of course it also means they can write off the entire fine as a business expense which is just as criminal as the crime they don't admit to in the first place. Congress should not allow a plea bargain or is Obama and congress really in the Goldman back pocket?



One wonders if the gunslingers at Goldman's have finally upset the highly secret international banking community who helped protect them including the House of Rothschild, and the Rothschilds have decided the manipulations by Goldman's are drawing too much attention to the world of banking and high finance. When you become a liability to these guys you suddenly disappear like Lehman Brothers and the other bad boys of finance.



SEC accuses Goldman Sachs of civil fraud
AP Report April 16, 2010

WASHINGTON – The government has accused Goldman Sachs & Co. of defrauding investors by failing to disclose conflicts of interest in mortgage investments it sold as the housing market was faltering.

The Securities and Exchange Commission announced Friday civil fraud charges against the Wall Street powerhouse and one of its vice presidents. The agency alleges Goldman failed to disclose that one of its clients helped create — and then bet against — subprime mortgage securities that Goldman sold to investors.

Investors in the mortgage securities are alleged to have lost more than $1 billion, the SEC noted.

The Goldman client implicated in the fraud is one of the world's largest hedge funds, Paulson & Co., which paid Goldman roughly $15 million for structuring the deals in 2007.

Goldman Sachs shares fell more than 10 percent after the SEC announcement.
The civil lawsuit filed by the SEC in federal court in Manhattan was the government's most significant legal action related to the mortgage meltdown that ignited the financial crisis and helped plunge the country into recession.
A Goldman Sachs spokesman didn't immediately return a call seeking comment.

The agency also charged a Goldman vice president, Fabrice Tourre, 31, who it said was principally responsible for devising the deal and marketing the securities.
The SEC is seeking unspecified fines and restitution from Goldman Sachs and Tourre.
"The product was new and complex, but the deception and conflicts are old and simple," SEC Enforcement Director Robert Khuzami said in a statement.

"Goldman wrongly permitted a client that was betting against the mortgage market to heavily influence which mortgage securities to include in an investment portfolio, while telling other investors that the securities were selected by an independent, objective third party."



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