The Washington Independent is asking Who Will investigate the Causes of the Financial Crisis? and apparently Congress is mulling over setting up a congressional committee to investigate after all.
But the list of possible names for the panel has a few huge clunkers on the Republican side in particular, most notably former senator from Utah Jake Garn, the same financial deregulator who sponsored the Garn-St. Germain Act signed by Reagan in 1982.
This would be the act that allowed Savings & Loan Associations to run amok with speculations that led directly to the S&L collapse (from which a certain member of the Bush dynasty had to be rescued by Poppy and the American people.)
The S&L crisis was then used as justification to author the easily passed Garn-St. Germain Depository Institutions Act which Paul Krugman cites (op-ed linked below) as putting responsibility for the current financial collapse squarely on the shoulders of President Ronald Reagan (where so much of it belongs, I agree.)
Who can forget former VP Cheney's defense of the Bush administration's and the GOP's drunken-sailor spending by saying that "Reagan proved deficits don't matter"? You'd have to go a long way to find a larger crock than that. Actually just go to Cheney's VP desk and the early Iraq war plans ("what we need is a new Pearl Harbor"), and Cheney's monkeying around with the US air defense system on the morning of 9/11/01...well, okay, you'd have a hard time choosing from the scam and crime lists of certain political cusses on 'both sides of the aisle,' as they love to say.
Yes, Paul Krugman's recent op-ed tells of Ronald Reagan's signing the Garn-St. Germain Act of 1982 which opened the door to the deregulation of the mortgage industry and cordially invited in the frauds of today.
Here is the horoscope with a few details on the Reaganomics Eclipse of 1981 in case you haven't seen it (Sun/Moon conjunct George W. Bush's natal Ascendant!) The post was written before I found info on the Garn-St. Germain Depository Institutions Act and before I realized the significance of its passage which leads directly to today's heist. (Thanks, Alex!)
And check out the text of President Reagan's jolly remarks at the Garn-St. Germain Act's signing ceremony in the White House Rose Garden on Oct 15, 1982 - 11:03 am, as you'll see here.
"All in all, I think we hit the jackpot," beamed Reagan, as noted by Paul Krugman in his op-ed linked above.
And I'm certain Reagan felt that way since the signing of the act occurred so near Mr. Reagan's Jupiter Return of Oct 11, 1982! The signing ceremony was held 4 days later on Oct 15, 1982 with Reagan's remarks (as noted in the text linked above) delivered at 11:03 am edt, White House, DC.
You have to love it when the actual time appears on a speech's text!
Now this was during a Saturn Hour, with an unaspected Jupiter conjunct 12th cusp (a karmic spot in a chart if there ever was one - we're paying heavy debts now and into the future thanks to these past sorry actions of Reagan & pals; plus, Reagan was born with Jupiter conjunct South Node, an unconscious point in any chart, see *Jup conj SN details below)...an-n-n-d moneybags Jupiter (the Guru) had returned in 1982 to the zodiacal position held at Reagan's Feb 6, 1911 birth!
Sometimes Astrology can be so amazing especially when Big Events are occurring and the archetypes are acting right under our studious noses.
And, of course, you know that in Mundane Astrology (Political Astrology; Astro-Politics), Jupiter represents the Republican Party, Saturn the Democrats - which actually makes the Dems more traditional and conservative, with the Rs as the radicals with big money burning holes in their pockets if it's taxpayer money, but lining deep pockets when its theirs to pilfer. And with the Democratic Party being the older of the two, Saturn fits them on that level, too.
So what does it mean that the signing-ceremony chart's Jupiter is unaspected?
(Chart is viewable at the end of this post.)
That Mr. Jupiter is acting as a law unto himself (and Reagan was acting on an unconscious level through his SN - unless Astrology had informed him - unconscious preoccupations are the hardest to transcend, as you know.)
So Jupiter isn't playing with the other actors (planets) in the scheme, a condition which emphasizes Jupiter's meaning by sign and house placement, and in this case, by the fact that this is Reagan's Jupiter in Scorpio, sign of Big Business and Wheeler-Dealing. Scorpio's natural house is the 8th of Credit, Debt, Insurance, Shared Resources, Transformation, the Occult, etc.
Jupiter in Scorpio indicates ruthless (Sco) striving for possessions and wealth (Jup), possible recklessness as bounds are over-stepped (Jup), and a tendency to delve into secret matters including the occult. Reagan's secret dealings with Iran come to mind as he orchestrated the delay of US hostages' release in Tehran and thus undermined the presidency of Jimmy Carter. Scorpio is also linked to betrayals, spying, and the Eagle of the US as it soars and surveys the world (from space, as it turns out. Naughty naughty Google Earth, too.)
Concerning the Reagans' known use of Astrology, perhaps the whole process of the finance-based bill's mark up, passage, and signing were timed with RR's Jupiter Return since this is usually an auspicious time of reward. By Reagan's "jackpot" comment mentioned above, he obviously was aware of what he was doing on a financial level, imo, and welcomed its promised abundance with which Politics had supplied him before (Jup conj SN.)
A Scorpionic Jupiter expands the will and one's sense of pride, while giving much subtlety to the personality. You've probably read through the years comments from those who knew him that they never really felt they "knew" him well - that even Mrs. Reagan couldn't enter all his self-absorbed ponderings. This self-absorption is part of Jupiter in Scorpio, often a moody and brooding sign.
At the North end of Reagan's natal Nodal Axis of Destiny is natal Moon 13Tau43, indicating that he was a hit with the American people for the most part (Moon conjunct US Inaugural Ascendant 13Tau+); or at least his reflection on the public image screen was pleasingly dazzling (including his film career.)
What we couldn't see as well was his ideologue Jupiter sitting on the tail of the dragon (SN) while making these important, far-reaching transformations to our financial system (Sco.)
Perhaps that's why the current financial collapse, a natural outcome of Reagan's signing of the Garn-St. Germain Act 1982, feels as if we're attempting to hang on to the tail of a dragon. The fire is burning the people - Moon - at the Northern end (NN = future direction), but the past (SN) has caught up and is knocking us over with the disastrous swish of a Jupiterian politician's tail!
*Jupiter conjunct SN: social and ethical objectives clash with prevailing social customs creating conflicts of interest; delays and difficulties are experienced in relation to, or encountered in, foreign lands (delaying the resolution of the US hostage crisis and its October Surprise, plus, Iran-Contra and arms planes being shot down with a survivor who pointed directly at the White House - a big oops for The Gipper!) (Jup/SN: The Astrologer's Handbook, Sakoian and Acker.)
More financial and political stars upcoming:
Soon to be of note financially, politically, in business, and law enforcement matters (Capricorn) is the July 7 Lunar Eclipse which will affect US natal Sun 13Can19 (the leader) so keep an eye on our president since Lunar Eclipses tend to reveal hidden things that must now be dealt with - and I rather doubt this indicates only a butt smoked behind a bush in the Rose Garden.
Also: if you click to enlarge the Garn-St. Germain chart just below, you'll see that in the 8th house is the Solar Eclipse which manifested before the act's signing, from its Pre-Natal Eclipse Series, the 2 New North. If you read Brady's Predictive Astrology, you find that this Series' flavor is that of the #16 card in the Tarot deck known as 'The Tower' - when we experience a sudden collapse of lifestyles, confusion reigns; transformation and rebuilding after the dust settles; this reshaping has far-reaching effects and will change peoples' directions in life through the sudden collapse of existing structures.
Well, that certainly describes what's been going on currently especially if you consider the Garn-St. Germain Act to be the grand-pappy of 2008/09's econo-collapse.
And worrisomely, the difficult Solar Eclipse of July 21/22, 2009 is related by its occurrence at '29Can' which may trigger the sensitized degree of the July 20, 1982 Eclipse at '28Can' (2 New North) - both opposing US natal Pluto (27Cap) and progressed Pluto (29Cap.)
The July 2009 Solar Eclipse indicates systems failures and old methods/ideas suddenly need to be replaced by new ones; any blocks may be violently or tragically removed. So the 1982 and 2009 Eclipses are linked by degree, not Series.
Well, I really wish, lone reader, that I could be more positive about this stuff, but the Lunar and Solar Eclipses of August 2008 brought bad financial news and events that I didn't want to discuss either, yet I would've been remiss not to do it anyway, mostly at Jude's Threshold (see sidebar of Pages.)
So there's little else to say now except, hang on tight - this too shall pass! jc
Oct 15, 1982, 11:03 am edt, White House; highlighted in red is a YOD pattern of 'adjustment, crisis, and/or a special task' pointing to Chiron Rx in Tauru$, sign of the architect and builder, and in 6th house of Work, Health, and Service.
Enlarge chart to see the planets in sextile that are pointing to Chiron; Reagan's natal placements are highlighted in blue around the chart; some US natal placements are noted as well; signing of the bill occurred with the Sun conjunct Reagan's natal Midheaven (Mc) 21Lib16; US natal Neptune in Virgo is at Midheaven at 11:03 am edt - deception, including self-deception.
The Mc/Ic axis of this chart is where the current stand-off (opposition) between Saturn and Uranus has fought for control and the old ways (Saturn) vs radical progress (Uranus) and is affecting career/public standing (Mc) and home/security/real estate matters (Ic) by way of the Garn-St. Germain Act.
In lower right corner is written the midpoint picture formed between the Great Conjunction of Jupiter and Pluto (Nov 2, 1981), triggered at the act's signing Oct 15, 1982 by transiting Saturn 24Lib46 which gives...
Jupiter/Pluto = Saturn: adjusting the big picture to meet more with convention; difficulties; separations.
The Jupiter/Pluto cycle we're embroiled in now (Jup/Plu = plutocrats; people who tackle big projects; exploitation of the masses; wastefulness; squanderers and speculators; law and economics professors, etc - Ebertin) began in December 2007 when America's economic weaknesses began to show in the housing sector as the recession started, and the Fed announced an interest rate cut only a few minutes before Jupiter and Pluto met and conferred over drinks to discuss their very ambitious political and financial aims.