Corporate Corruption Media Articles

Excerpts of Key Corporate Corruption Media Articles in Major Media

Below are key excerpts of revealing news articles on corporate corruption from reliable news media sources. If any link fails to function, a paywall blocks full access, or the article is no longer available, try these digital tools.

Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.

Consumers around the world are becoming aware of the dangers of industrial, chemical-based agriculture. The most legitimate science and research bodies recommend turning toward organic and sustainable agriculture, shunning genetically engineered (GE or GMO) products and the chemicals they are designed to promote. With the growth and power of the food movement, corporate giants are beginning to take action. After decades of employing a "block-us-and-we'll-sue-you" approach, Monsanto recently began an intense makeover PR campaign: popularity by association. Monsanto is cozying up to the reputation, authenticity and wholesomeness of family farmers -- and hoping the all-American nostalgia many associate with the small scale farmer rubs off on them. During the Super Bowl, key media markets saw Monsanto's "It Begins with a Farmer" commercials, which were intended to demonstrate that the company shares the same values as family farmers and the consumers they feed and clothe. In reality, Monsanto is no friend to the family farmer or the communities they live in and support. In fact, Monsanto (and other chemical companies like Dow Chemical, Syngenta, BASF, Pioneer/Dupont, and Bayer) have forced small farmers into a dying breed. The cost of industrial agriculture forces farmers to get big or get out. This is particularly true of GE herbicide-resistant seeds, which USDA economists tell us have contributed to increased consolidation of farmland in fewer hands. In the end, family farmers get squeezed out by the mammoth farms enabled by biotechnology.

Note: For more on corporate corruption, see the deeply revealing reports from reliable major media sources available here.

A Canadian who works on Wall Street is emerging in some quarters as a hero for revealing the inner workings of high frequency traders who critics have accused of rigging the stock market and taking investors for billions. Brad Katsuyama now runs IEX – the Investors Exchange – a new Wall Street trading platform he founded. But it was in his former capacity as the head trader in New York for RBC Capital Markets that he caught the attention of popular financial writer Michael Lewis. Katsuyama gets star billing in Lewis’s new book, Flash Boys: A Wall Street Revolt. Katsuyama told Lewis that he had uncovered the methods high frequency traders use to get what he considers to be an unfair advantage over other investors. Katsuyama noticed that when he would send a large stock order to the market, it would only be partially filled, and then he would have to pay a higher price for the rest of the order. When he investigated, he found that his orders travelled along fibre-optic lines and hit the closest exchange first, where high frequency traders would use their speed advantage to buy the shares he wanted and then sell them to him at a slightly higher price – all in milliseconds. "They are able to identify your desire to buy shares in Microsoft and buy them in front of you and sell them back to you at a higher price," Lewis told 60 Minutes. “The United States stock market, the most iconic market in global capitalism, is rigged.” The main thrust of Lewis’s new book is that high-frequency traders use their speed advantage in predatory ways that end up cheating market participants small and large.

Note: For more on financial corruption, see the deeply revealing reports from reliable major media sources available here.

In the last two weeks, the New York attorney general and the Commodities Futures Trading Commission in Washington have both launched investigations into high-frequency computerized stock trading that now controls more than half the market. The probes were announced just ahead of a much anticipated book on the subject by best-selling author Michael Lewis called Flash Boys. In it, Lewis argues that the stock market is now rigged to benefit a group of insiders that have made tens of billions of dollars exploiting computerized trading. The story is told through an unlikely cast of characters who figured out what was going on and have devised a plan to correct it. It could have a huge impact on Wall Street. Tonight, Michael Lewis talks about it for the first time. Steve Kroft: What's the headline here? Michael Lewis: Stock market's rigged. The United States stock market, the most iconic market in global capitalism is rigged. Steve Kroft: By whom? Michael Lewis: By a combination of these stock exchanges, the big Wall Street banks and high-frequency traders. Steve Kroft: Who are the victims? Michael Lewis: Everybody who has an investment in the stock market. If it wasn't complicated, it wouldn't be allowed to happen. The complexity disguises what is happening. If it's so complicated you can't understand it, then you can't question it. Steve Kroft: And this is all being done by computers? Michael Lewis: All being done by computers. It's too fast to be done by humans. Humans have been completely removed from the marketplace. The insiders are able to move faster than you.

Note: For an amazing story of greed and manipulation exposed on Wall Street, see the New York Times article on Flash Boys at this link.

Nearly half of American adults believe the federal government, corporations or both are involved in at least one conspiracy to cover up health information, a new survey finds. Conspiracy theories on everything from cancer cures to cellphones to vaccines are well known and accepted by sizable segments of the population, according to a research letter published this week in JAMA Internal Medicine. The findings reflect "a very low level of trust" in government and business, especially in pharmaceutical companies, says study co-author Eric Oliver, a professor of political science at the University of Chicago. The online survey of 1,351 adults found: • 37% agree the Food and Drug Administration is keeping "natural cures for cancer and other diseases" away from the public because of "pressure from drug companies." • 20% believe health officials are hiding evidence that cellphones cause cancer. • 20% believe doctors and health officials push child vaccines even though they "know these vaccines cause autism and other psychological disorders." • Smaller numbers endorse theories involving fluoride, genetically modified foods and the deliberate infection of African Americans with HIV. • 49% believe at least one of the theories and 18% believe at least three. The beliefs also go along with certain health behaviors, the survey found. Those who believe at least three health conspiracy theories are less likely to use sunscreen, get flu shots or get check-ups and are more likely to use herbal remedies and eat organic foods.

Note: For an intriguing list of 10 major health cover-ups with evidence to back it up, click here.

Lawmakers of both parties are desperately trying to stop the Internal Revenue Service from interfering with the most powerful political invention that ever fell into their laps: the use of non-profit groups as a source of unlimited and anonymous campaign money. An investigation now unfolding in Utah ... exposes in remarkable detail how profoundly the non-profit system can be corrupted for the benefit of a single industry and a single politician. The politician involved was John Swallow, a former lobbyist for an empire of payday-loan and check-cashing companies. When Mr. Swallow ran for Utah Attorney General as a Republican in 2012, his strategist established several social-welfare groups, which don’t have to name their donors, so that the payday-loan industry could support him financially without anyone knowing. The groups collected hundreds of thousands of dollars in secret donations from the industry, and the money was used to run attack ads against Mr. Swallow’s opponent, who wanted to crack down on payday lenders. The ads worked, and Mr. Swallow was elected. When the I.R.S. started looking into the non-profit groups and demanding documentation, ... Congressional Republicans accused the agency (falsely) of singling out conservative non-profit groups. Eventually, a parallel state investigation drove Mr. Swallow from office; he resigned last fall, and last week a state legislative panel accused him of breaching the public trust by hanging “a veritable ‘for sale’ sign on the office door that invited moneyed interests to seek special treatment and favors.”

Note: For more on serious problems with the US electoral system, see the deeply revealing reports from reliable major media sources available here.

The authors of a study calling for GM crops to be fast-tracked into Britain’s farms and kitchens all have links to the industry. The report was presented as the work of ‘independent’ scientists and was published on [March 13] by a government advisory body. It was used to support a bid to speed up the development of the controversial crops in the UK, but it has emerged that all five authors have a vested interest in promoting GM crops and food – and some are part-funded by the industry. Critics of GM [have] described the report as ‘biased and downright dangerous’, and accused the biotech giants and the Government of mounting a crude propaganda campaign to overturn public opposition. The academics behind the study were chosen by the Council for Science and Technology, the body that advises the Prime Minister on science policy issues. They include Professor Sir David Baulcombe, from Cambridge University, who works as a consultant for GM firm Syngenta, which gives his department research funding. Syngenta is behind a genetically modified maize or corn, called GA21, which could go into UK farms as early as next spring, making it Britain’s first commercially grown GM crop. Also on the list is Professor Jonathan Jones, of the Sainsbury Laboratory, which is at the centre of Britain’s GM research. It is part-funded by former Labour science minister, Lord Sainsbury, who is one of the country’s biggest supporters of the technology. Another co-author was Professor Jim Dunwell, of the University of Reading. He was a founder member of CropGen, which describes its mission as ‘to make the case for GM crops and foods’

Note: For more on government corruption, see the deeply revealing reports from reliable major media sources available here. For an excellent summary of the risks and dangers from GMO foods, click here.

The Consumer Financial Protection Bureau (CFPB), the watchdog agency conceived of and established by Sen. Elizabeth Warren (D-Mass.) in the wake of the financial crisis, ... has issued dozens of protections shielding consumers from shady practices by mortgage lenders, student loan servicers, and credit card companies. Here are ten things the CFPB, which was created in 2011, has done to protect the little guy: 1. Mortgage lenders can no longer push you into a high-priced loan. 2. New homeowners are less likely to be hit by foreclosure. 3. If you are are delinquent on your mortgage payments, loan servicers have to try harder to help you avoid foreclosure. 4. Millions of Americans get a low-cost home loan counselor. 5. Borrowers with high-cost mortgages get an outside eye. 6. Fly-by-night financial players will be held accountable. 7. Folks scammed by credit card companies get refunds. 8. Student lenders face scrutiny. 9. Service members get extra protection. 10. Consumers get a help center: If your bank or lender does anything you think is unfair, the bureau has a division dedicated to fielding consumer complaints. The agency promises to work with companies to try to fix consumers' problems.

Note: For more on financial corruption, see the deeply revealing reports from reliable major media sources available here.

Four years after President Obama promised to crack down on mortgage fraud, his administration has quietly made the crime its lowest priority and has closed hundreds of cases after little or no investigation, the Justice Department’s internal watchdog said on [March 13]. The report by the department’s inspector general undercuts the president’s contentions that the government is holding people responsible for the collapse of the financial and housing markets. The administration has been criticized, in particular, for not pursuing large banks and their executives. The inspector general’s report ... shows that the F.B.I. considered mortgage fraud to be its lowest-ranked national criminal priority. In several large cities, including New York and Los Angeles, F.B.I. agents either ranked mortgage fraud as a low priority or did not rank it at all. The F.B.I. received $196 million from the 2009 to 2011 fiscal years to investigate mortgage fraud, the report said, but the number of pending cases and agents investigating them dropped in 2011. Mortgage fraud was one of the causes of the 2008 financial collapse. Mortgage brokers and lenders falsified documents, sometimes to make mortgages look safer, other times to make the property look more valuable.

Note: For more on government collusion with the banking industry, see the deeply revealing reports from reliable major media sources available here.

In the tense days after a powerful earthquake and tsunami crippled the Fukushima Daiichi power plant in Japan on March 11, 2011, staff at the U.S. Nuclear Regulatory Commission made a concerted effort to play down the risk of earthquakes and tsunamis to America’s aging nuclear plants, according to thousands of internal emails reviewed by NBC News. The emails, obtained via the Freedom of Information Act, show that the campaign to reassure the public about America’s nuclear industry came as the agency’s own experts were questioning U.S. safety standards and scrambling to determine whether new rules were needed to ensure that the meltdown occurring at the Japanese plant could not occur here. At the end of that long first weekend of the crisis three years ago, NRC Public Affairs Director Eliot Brenner thanked his staff for sticking to the talking points that the team had been distributing to senior officials and the public. "While we know more than these say," Brenner wrote, "we're sticking to this story for now." There are numerous examples in the emails of apparent misdirection or concealment in the initial weeks after the Japanese plant was devastated: When asked to help reporters explain what would happen during the worst-case scenario -- a nuclear meltdown -- the agency declined to address the questions. The emails pull back the curtain on the agency’s efforts to protect the industry it is supposed to regulate. The NRC officials didn't lie, but they didn't always tell the whole truth either. When someone asked about a topic that might reflect negatively on the industry, they changed the subject.

Note: For more on corruption in the nuclear power industry, see the deeply revealing reports from reliable major media sources available here.

In mid-February, [reporter Matt] Taibbi announced he was leaving Rolling Stone, where he has worked for almost a decade, to start a digital magazine for First Look Media, the company owned by eBay billionaire Pierre Omidyar. The last few weeks have been consumed with business matters—hiring editorial staff, signing off on designs. Taibbi won’t discuss the exact format of the new venture, nor its name—that’s still being worked out, too—but he sees it focusing, in part, on the same matters of corporate malfeasance he’s been covering for years. What people expect, of course, is the ribald, loudly antagonistic voice of a writer who is, in his own words, “full of outrage.” The guy who compared Goldman Sachs to a “vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money.” None of Taibbi’s anger at the “toothlessness” of the media has dissipated. Taibbi says his decision to leave Rolling Stone was predicated in part on ... his desire to “be on Glenn’s side.” Glenn being Glenn Greenwald, who, along with Laura Poitras and Jeremy Scahill, is currently editing another First Look property, the national-security-centric The Intercept, which has been live since February. “Glenn’s in this position of being a reporter trying to put out material that came from a whistle-blower, and now they’re both essentially in exile. It’s crazy. If the press corps that existed in the ’60s and ’70s had seen this situation, they’d be rising as one and denouncing the government for it,” Taibbi says.

Note: For more on corporate corruption, see the deeply revealing reports from reliable major media sources available here.

The FBI has launched an investigation of the Corrections Corporation of America over the company's running of an Idaho prison with a reputation so violent that inmates dubbed it "Gladiator School." CCA has operated Idaho's largest prison for more than a decade, but last year, CCA officials acknowledged it had understaffed the Idaho Correctional Center by thousands of hours in violation of the state contract. CCA also said employees falsified reports to cover up the vacancies. The announcement came after an Associated Press investigation showed CCA sometimes listed guards as working 48 hours straight to meet minimum staffing requirements. The understaffing has been the subject of federal lawsuits and a contempt of court action against CCA. The ACLU sued on behalf of inmates at the Idaho Correctional Center in 2010, saying the facility was so violent that inmates called it "Gladiator School" and that understaffing contributed to the high levels of violence there. In 2012, a Boise law firm sued on behalf of inmates contending that CCA had ceded control to prison gangs so that they could understaff the prison and save money on employee wages, and that the understaffing led to an attack by one prison gang on another group of inmates that left some of them badly injured.

Note: If the above link fails, use this one for the same Associated Press article covering prisons corruption on the website of the UK's Guardian. For more on corruption in the prison-industrial complex, see the deeply revealing reports from reliable major media sources available here.

Patients who suffered brain damage as a result of taking a swine flu vaccine are to receive multi-million-pound payouts from the UK government. Following the swine flu outbreak of 2009, about 60 million people, most of them children, received the vaccine. It was subsequently revealed that the vaccine, Pandemrix, can cause narcolepsy and cataplexy in about one in 16,000 people, and many more are expected to come forward with the symptoms. Across Europe, more than 800 children are so far known to have been made ill by the vaccine. The Pandemrix vaccine was manufactured by pharmaceuticals giant Glaxo Smith Kline, which refused to supply governments unless it was indemnified against any claim for damage caused. "There's no doubt in my mind whatsoever that Pandemrix increased the occurrence of narcolepsy onset in children," Emmanuelle Mignot, a specialist in sleep disorder at Stanford University in the United States told Reuters. Among those affected are NHS medical staff, many of whom are now unable to do their jobs because of the symptoms brought on by the vaccine. They will be suing the government for millions in lost earnings. However, the vast majority of patients affected - around 80% - are children. Despite a 2011 warning from the European Medicines Agency against using the vaccine on those under 20 and a study indicating a 13-fold heightened risk of narcolepsy in vaccinated children, GSK has refused to acknowledge a link.

Note: Read about people in other countries who were damaged by the vaccine on this webpage. See powerful media reports suggesting that both the avian flu and swine flu were manipulated to promote fear and boost pharmaceutical sales. And watch a powerful CBS video describing how 4,000 Americans in 1976 sued for neurological damages caused by a swine flu vaccine that they agreed to take after falling for fear mongering about the flu by the government. 300 people allegedly died from the vaccine. For more, see the excellent resources in our Health Information Center.

Global gold prices may have been manipulated on 50 per cent of occasions between January 2010 and December 2013, according to analysis by Fideres, a consultancy. The findings come amid a probe by German and UK regulators into alleged manipulation of the gold price, which is set twice a day by Deutsche Bank, HSBC, Barclays, Bank of Nova Scotia and Société Générale in a process known as the “London gold fixing”. Fideres’ research found the gold price frequently climbs (or falls) once a twice-daily conference call between the five banks begins, peaks (or troughs) almost exactly as the call ends and then experiences a sharp reversal, a pattern it alleged may be evidence of “collusive behaviour”. “[This] is indicative of panel banks pushing the gold price upwards on the basis of a strategy that was likely predetermined before the start of the call in order to benefit their existing positions or pending orders,” Fideres concluded. “The behaviour of the gold price is very suspicious in 50 per cent of cases. This is not something you would expect to see if you take into account normal market factors,“ said Alberto Thomas, a partner at Fideres. Alasdair Macleod, head of research at GoldMoney, a dealer in physical gold, added: “When the banks fix the price, the advantage they have is that they know what orders they have in the pocket.” BaFin, the German regulator, has launched an investigation into gold-price manipulation and demanded documents from Deutsche Bank. The UK’s Financial Conduct Authority is also examining how the price of gold and other precious metals is set as part of a wider probe into benchmark manipulation following findings of wrongdoing with respect to Libor and similar allegations with respect to the foreign exchange market.

Important Note: The above article was removed from the Financial Times website just two days after it was posted. How strange. To read the full article on another website, click here. And for a BBC article which shows how the Rothschilds fixed gold prices in the past, click here. For more on financial corruption, see the deeply revealing reports from reliable major media sources available here.

An advisory committee of the Food and Drug Administration is set to begin two days of meetings tomorrow to consider radical biological procedures that, if successful, would produce genetically modified human beings. This is a dangerous step. These techniques would change every cell in the bodies of children born as a result of their use, and these alterations would be passed down to future generations. The F.D.A. calls them mitochondrial manipulation technologies. The procedures involve removing the nuclear material either from the egg or embryo of a woman with inheritable mitochondrial disease and inserting it into a healthy egg or embryo of a donor whose own nuclear material has been discarded. Any offspring would carry genetic material from three people — the nuclear DNA of the mother and father, and the mitochondrial DNA of the donor. Developers of these modification techniques say they are a way for women with mitochondrial disease to give birth to healthy children to whom they are related genetically. Some are also promoting their use for age-related infertility. These procedures are deeply problematic in terms of their medical risks and societal implications. Will the child be born healthy, or will the cellular disruptions created by this eggs-as-Lego-pieces approach lead to problems later on? What about subsequent generations? And how far will we go in our efforts to engineer humans? Unfortunately, there are now worrisome signs that opposition to inheritable genetic modifications, written into law by dozens of countries, according to our count, may be weakening. British regulators are also considering mitochondrial manipulations, and proponents there, like their counterparts in the United States, want to move quickly to clinical trials.

Note: For more on the dangers to society of genetic engineering, see the deeply revealing reports from reliable major media sources available here.

The US Federal Reserve knew about Libor rigging three years before the financial scandal exploded but did not take any firm action, documents have revealed. According to newly published transcripts of the central bank’s meetings in the run-up to and immediate aftermath of the collapse of Lehman Brothers, a senior Fed official first flagged the issue at a policy meeting in April 2008. William Dudley expressed fears that banks were being dishonest in the way they were calculating the London interbank offered rate – a global benchmark interest rate used as the basis for trillions of pounds of loans and financial contracts. Three years after his remarks, it emerged that traders at more than a dozen banks, including Lloyds, Royal Bank of Scotland and Barclays, had routinely been trying to fix the official Libor rate in order to boost their own bonuses and profits. The transcript of the Fed’s April 2008 meeting raises questions about why the central bank did not move to properly tackle the scandal. There was no official regulator for Libor at the time, and officials at the US Federal Reserve tried to blame British authorities for allowing the benchmark interest rate to get out of control in the first place. The Fed declined to comment on the transcripts or why it had not taken firm action..

Note: For more on government collusion with the biggest banks, see the deeply revealing reports from reliable major media sources available here.

China has fined UK pharmaceuticals firm GlaxoSmithKline $490m (Ł297m) after a court found it guilty of bribery. The record penalty follows allegations the drug giant paid out bribes to doctors and hospitals in order to have their products promoted. The court gave GSK's former head of Chinese operations, Mark Reilly, a suspended three-year prison sentence and he is set to be deported. Other GSK executives have also been given suspended jail sentences. The guilty verdict was delivered after a one-day trial at a court in Changsha, according to the Xinhua news agency. Chinese authorities first announced they were investigating GSK in July last year, in what has become the biggest corruption scandal to hit a foreign firm in years. The company was accused of having made an estimated $150m in illegal profits. GSK said it had "published a statement of apology to the Chinese government and its people". This is a humiliating outcome for one of Britain's biggest companies: pleading guilty to systematic bribery, facing the biggest fine in Chinese history and making an abject apology to the Chinese government and people.

Note: In February 2016, GlaxoSmithKline was fined another $53 million by the UK for preventing generic competition. The list of huge fines to top drug companies includes five fines of over $1 billion and dozens over $100 million. How can we trust these companies on the safety and reliability of their products?

The deal was announced quietly, just before the holidays. The U.S. Justice Department granted a total walk to executives of the British-based bank HSBC for the largest drug-and-terrorism money-laundering case ever. They issued a fine $1.9 billion, or about five weeks' profit but they didn't extract so much as one dollar or one day in jail from any individual, despite a decade of stupefying abuses. For at least half a decade, the storied British colonial banking power helped to wash hundreds of millions of dollars for drug mobs, including Mexico's Sinaloa drug cartel, suspected in tens of thousands of murders just in the past 10 years. The bank also ... aided countless common tax cheats in hiding their cash. That nobody from the bank went to jail or paid a dollar in individual fines is nothing new in this era of financial crisis. What is different about this settlement is that the Justice Department, for the first time, admitted why it decided to go soft on this particular kind of criminal. It was worried that anything more than a wrist slap for HSBC might undermine the world economy. "Had the U.S. authorities decided to press criminal charges," said Assistant Attorney General Lanny Breuer at a press conference to announce the settlement, "HSBC would almost certainly have lost its banking license in the U.S., the future of the institution would have been under threat and the entire banking system would have been destabilized."

Note: For more on the collusion of government with the biggest, most corrupt banks, see the deeply revealing reports from reliable major media sources available here.

It's 1999, the tail end of the Clinton years. Most observers on the Hill thought the Financial Services Modernization Act of 1999 – also known as the Gramm-Leach-Bliley Act – was just the latest and boldest in a long line of deregulatory handouts to Wall Street that had begun in the Reagan years. Wall Street had spent much of that era arguing that America's banks needed to become bigger and badder, in order to compete globally with the German and Japanese-style financial giants. Bank lobbyists were pushing a new law designed to wipe out 60-plus years of bedrock financial regulation. The key was repealing – or "modifying," as bill proponents put it – the famed Glass-Steagall Act separating bankers and broker. Now, commercial banks would be allowed to merge with investment banks and insurance companies, creating financial megafirms potentially far more powerful than had ever existed in America. The [bill] additionally legalized new forms of monopoly, allowing banks to merge with heavy industry. A tiny provision in the bill also permitted commercial banks to delve into any activity that is "complementary to a financial activity and does not pose a substantial risk to the safety or soundness of depository institutions or the financial system generally." Today, banks like Morgan Stanley, JPMorgan Chase and Goldman Sachs own oil tankers, run airports and control huge quantities of coal, natural gas, heating oil, electric power and precious metals. They likewise can now be found exerting direct control over the supply of a whole galaxy of raw materials crucial to world industry and to society in general, including everything from food products to metals like zinc, copper, tin, nickel and ... aluminum.

Note: For more on government collusion with the biggest banks, see the deeply revealing reports from reliable major media sources available here.

Consumers are being sold food including mozzarella that is less than half real cheese, ham on pizzas that is either poultry or "meat emulsion", and frozen prawns that are 50% water, according to tests by a public laboratory. The checks on hundreds of food samples, which were taken in West Yorkshire, revealed that more than a third were not what they claimed to be, or were mislabelled in some way. Testers also discovered beef mince adulterated with pork or poultry, and even a herbal slimming tea that was neither herb nor tea but glucose powder laced with a withdrawn prescription drug for obesity at 13 times the normal dose. A third of fruit juices sampled were not what they claimed or had labelling errors. Two contained additives that are not permitted in the EU, including brominated vegetable oil, which is designed for use in flame retardants and linked to behavioural problems in rats at high doses. Experts said they fear the alarming findings from 38% of 900 sample tests by West Yorkshire councils were representative of the picture nationally, with the public at increasing risk as budgets to detect fake or mislabelled foods plummet. In one case, tests revealed that the "vodka" had been made not from alcohol derived from agricultural produce, as required, but from isopropanol, used in antifreeze and as an industrial solvent. Many of the samples were collected from fast-food restaurants, independent retailers and wholesalers; some were from larger stores and manufacturers.

Note: For more on corporate corruption, see the deeply revealing reports from reliable major media sources available here.

New York state’s top financial regulator has demanded documents from more than a dozen banks including Barclays, Deutsche, Goldman Sachs and RBS as a probe widened into trading practices in the $5.3tn-a-day global foreign exchange markets. Benjamin Lawsky, New York's financial services superintendent, made the move following the banks’ decision to fire or suspend at least 20 traders following reports that employees at some firms had shared information about their currency positions with counterparts at other companies. Lawsky’s move marks the latest escalation in a global investigation by regulators into the manipulation of benchmark rates. The currency probe comes as regulators are still investigating the manipulation of the Libor lending rate by traders at some of the world’s biggest banks. The Wall Street Journal reported that Goldman Sachs’ Steven Cho, formerly global head of spot and forward foreign exchange trading for major currencies, was retiring from the bank. His departure came a day after Citigroup announced that Anil Prasad, its global head of foreign exchange, was leaving the company. It is not know if his retirement is in any way linked to any investigation. Prasad’s exit comes a month after Rohan Ramchandani, formerly Citi’s head of European spot foreign exchange trading, was fired. Ramchandani had been a member of the Bank of England’s foreign exchange joint standing committee.

Note: For more on financial corruption, see the deeply revealing reports from reliable major media sources available here.

Important Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.