Analysts who reviewed complex mortgage bonds that ultimately collapsed and ruined the U.S. housing market were threatened with firing if they lost lucrative business, prompting faulty ratings on trillions of dollars worth of junk mortgage bonds, a Senate report said Wednesday.
The 639-page report by the Senate Permanent Subcommittee on Investigations confirms much of what McClatchy first reported about mismanagement by credit ratings agencies in 2009.
Report: Big profits drove faulty ratings at Moody's, S&P
Goldman Sachs misled Congress after duping clients, Senate panel chairman says
Goldman Sachs misled clients and Congress about the firm’s bets on securities tied to the housing market, the chairman of the U.S. Senate panel that investigated the causes of the financial crisis said.
Senator Carl Levin, releasing the findings of a two-year inquiry yesterday, said he wants the Justice Department and the Securities and Exchange Commission to examine whether Goldman Sachs violated the law by misleading clients who bought the complex securities known as collateralized debt obligations without knowing the firm would benefit if they fell in value.
Fukushima Disaster - No Resolution In Sight
Fukushima's disaster will scar much, perhaps all of Japan for generations, including fetuses and newborns to be genetically harmed by radiation poisoning.
NISA and Japan's Nuclear Safety Commission (NSC) estimate that 370,000 - 630,000 terabecquerels of radioactive materials have been released from Units 1, 2 and 3. One terabecquerel equals one trillion becquerels.
In other words, with no crisis resolution in sight, enormous radiation amounts have already been released since March 11. Northern Japan has been contaminated. The rest of the country has been affected, and so have the Pacific rim and Northern Hemisphere.
Aborigines to block uranium mining after Japan disaster
Since Japan's Fukushima nuclear plant began leaking radiation after last month's earthquake and tsunami, those watching with consternation have included the Mirarr Aboriginal people of Australia's Northern Territory, who are determined to limit uranium mining on their land despite the promise of vast riches.
The Mirarr are the traditional owners of land where uranium has been mined for more than 30 years and exported all over the world. Tepco, which operates the Fukushima plant, is a long-standing customer of Ranger, the principal mine.
Austrian church abuse panel records 837 complaints
A panel set up by Austria's Roman Catholic Church to help people abused by clergy or church officials says it has recorded complaints from 837 alleged victims over the past year.
The panel, headed by former governor Waltraud Klasnic, says 627 men and 210 women issued complaints, and 253 cases have been dealt with. It added Wednesday that it did not have jurisdiction over an additional 72 complaints it had received.
'Critical' Shortage Of Army Neurologists For Troops
The Army is facing a "critical" shortage of neurologists, partly because of recent policy changes designed to improve diagnosis and treatment of mild traumatic brain injuries, according to a new military medical memorandum.
The policies, issued last June, require soldiers who have suffered three or more mild traumatic brain injuries in a year to receive a comprehensive evaluation by a neurologist or similarly qualified doctor. The military also set up a clinic in Afghanistan last year specifically to treat traumatic brain injury and mandated rest periods for soldiers exposed to blasts.
The False Debate on the Debt
In the ever-so-smug company of the rich and powerful it is a given that there is never to be any expression of remorse or other acknowledgement of the pain they have inflicted on the lesser mortals they so cavalierly plunder.
It’s convenient for them that the media and the politicians, which they happen to own, rarely connect the dots between the scams that made the rich so rich and the alarming rise in the federal debt that is crushing this nation.
US public supports Palestine statehood
It becomes clearer every day that Binyamin Netanyahu's government is terrified by the prospect that the Palestinians are planning to unilaterally declare a state later this year. In fact, it is safe to say that no other proposed Palestinian action has ever shaken up any Israeli government the way that the idea of a unilateral declaration has.
According to Haaretz, Prime Minister Netanyahu is so frightened at the prospect of a Palestinian declaration that he is considering withdrawing Israeli forces (not settlers, of course) from the West Bank as an inducement to prevent the Palestinians from acting:
Netanyahu is weighing a withdrawal of Israel Defence Forces troops from the West Bank and a series of other measures to block the "diplomatic tsunami" that may follow international recognition of a Palestinian state within the 1967 borders at the United Nations General Assembly in September.
65 Ways That Everything That You Think That You Own Is Being Systematically Taken Away From You
Everything that you own is slowly being taken away from you. It is being done purposely and it is being done by design. Many Americans like to think of themselves as "well off", but as will be demonstrated below, we don't "own" nearly as much as we think that we do. The truth is that most of us have to frantically run around accumulating wealth as rapidly as we can so that we can somehow stay ahead of the rate that wealth is being taken away from us. The entire system is designed to take what you have away from you. There are many ways that this is accomplished - taxation, inflation, debt, interest, fines, fees, tickets, government seizures and good old-fashioned corporate greed. If you tried to just sit back and do nothing but hold on to the wealth that you already have you would find out that it would disappear rather quickly. When you take the time to really analyze our system the conclusion is undeniable - everything that you think that you own is being systematically taken away from you.
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