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Friday, Jul 05th

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FTC Opens Investigation into Herbalife; Shares Plunge

HerbalifeThe Federal Trade Commission has opened a probe into Herbalife. The stock, which had been halted, is now trading down 14%. Before the news came out, it was up 4.45%.

Herbalife confirmed that they received a Civil Investigative Demand from the FTC.  

"Herbalife welcomes the inquiry given the tremendous amount of misinformation in the marketplace, and will cooperate fully with the FTC.  We are confident that Herbalife is in compliance with all applicable laws and regulations.  Herbalife is a financially strong and successful company, having created meaningful value for shareholders, significant opportunities for distributors and positively impacted the lives and health of its consumers for over 34 years," the company said in a statement.

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Senate Investigation of Bush-Era Torture Erupts Into Constitutional Crisis

Senate investigationA gripping battle between the Central Intelligence Agency and the Senate Intelligence Committee broke into public view Tuesday morning, as Senator Dianne Feinstein openly accused the CIA of spying on congressional staffers as they investigated the agency’s illegal detention and interrogation programs under President George W. Bush.

Feinstein’s allegations raise grave questions about how the executive branch interprets constitutional separation of powers, along with raising serious concerns about the integrity of congressional oversight of US intelligence agencies. And lurking in the background is the country’s dirty history of torture following the September 11 terror attacks, which top officials—including those appointed by President Obama—seem determined to brush into the dustbin of history.

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Bob Alexander: Pareidolia

Sucker born every minuteThe saying “There's a sucker born every minute.” has been kicking around since the late nineteenth century. The indomitable American “can do” attitude has made that adage an extremely lowball estimate. I watched a video clip on Crooks & Liars the other day excerpted from Cashin' In, a Fox News program hosted by Eric Bolling. It weirded me out so much I had to click on over to the Fox News website and watch the entire segment. I’ve never done that before. I don’t have the stomach lining for Fox. But this was so compelling I had to.

But first …

We’ve all received the scam email about helping a wealthy Nigerian move his millions out of the country into American banks. If you agree to help the guy out you get to keep a huge percentage of the money. The cost to victims of these advance-fee frauds like the Nigerian bank scam went from $100 million in the U.S. in 1997 to an estimated $6.3 billion in 2008 and $9.3 billion in 2009 worldwide.

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Ohio earthquakes linked to fracking

Oklahoma earthquakesOhio authorities shut down a hydraulic fracturing, or fracking, natural gas operation in Mahoning County on Monday after two earthquakes were felt in the area, near the Pennsylvania border, local newspapers and broadcasters reported.

The quakes registered magnitudes of 3.0 and 2.6, the U.S. Geological Survey’s National Earthquake Information Center said on its website.

Two smaller earthquakes were also reported later in the day.

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Three years after Fukushima Daiichi melted down, Japan still feeling effects of nuclear disaster

fukushimaThe complex known here as J-Village was once Japan’s largest soccer training facility. A statue in the building’s foyer depicts three soccer players battling for a ball. The logo of the Tepco Mareeze, a women’s soccer team that was disbanded in 2011, still is part of the decor. The sliding glass doors that open automatically when visitors approach are emblazoned with an image of soccer players.

But no one plays soccer here anymore. Instead, J-Village has become the command center in the effort to clean up the nuclear catastrophe that began when a magnitude 9.0 earthquake struck off the coast of Honshu, Japan, at 2:46 p.m. on March 11, 2011, sending a 45-foot wall of water over the 19-foot protective seawall at the Fukushima Daiichi Nuclear Power Plant and triggering the worst nuclear disaster since the Chernobyl power plant in Ukraine exploded in 1986.

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Alex Baer: Death: No Longer a Passing Fancy

Jolly RogerThe cost of paying attention keeps going up:  Increasing cases of thyroid growths near Fukushima.  Tar sands.  Poisoned water supplies.  Drones.  North Korea.  Corporate welfare.  Tainted and questionable food supplies.  Chemical weapons.  Gun violence.  Man-made gases eating the ozone shield.

There's even a recent report of a dormant virus coming back to life after a nap of 30,000 years.  After a run through the headlines, I'm feeling very much like I could use a nap of a few thousand years myself.

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BPA-free plastics may be less safe than those with chemical

BPA free plasticsIn 2008, the news burst on the media everywhere: common plastics contained potentially dangerous levels of bisphenol a (BPA) an additive that could be hazardous to consumer health. It leached into food and drinks, especially when plastics were warmed, posing a risk in baby bottles, water bottles, plastic storage containers and more. The plastics industry was reluctant to face the truth on BPA, but under pressure, it gave in — now, many plastic products are proudly labeled BPA-free.

So that means you’re safe, right? Your plastics have been guaranteed free of the nasty chemical everyone was so worried about, and you can go back to business as usual.

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Fukushima operator may have to dump contaminated water into Pacific

Fukushima waterA senior adviser to the operator of the wrecked Fukushima Daiichi nuclear power plant has told the firm that it may have no choice but to eventually dump hundreds of thousands of tonnes of contaminated water into the Pacific Ocean.

Speaking to reporters who were on a rare visit to the plant on the eve of the third anniversary of the March 2011 earthquake, tsunami and nuclear disaster, Dale Klein said Tokyo Electric Power [Tepco] had yet to reassure the public over the handling of water leaks that continue to frustrate efforts to clean up the site.

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6.9 earthquake shakes Northern California

california earthquakeA very strong earthquake rattled the Northern California coast and was widely felt across the region, but authorities said early Monday that there were no reports of any injuries or damages.

The magnitude-6.9 quake struck at 10:18 p.m. PDT Sunday and was centered 50 miles west of Eureka and about four miles beneath the Pacific seabed, according to the U.S. Geological Survey. It was followed by about a half-dozen aftershocks, including one of magnitude 4.6.

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