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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.


Derivatives the new 'ticking bomb'
2008-03-10, MarketWatch (Part of the Wall Street Journal's digital network)
http://www.marketwatch.com/story/derivatives-are-the-new-ticking-time-bomb

"In our view, however, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal." That warning was in [Warren] Buffett's 2002 letter to Berkshire shareholders. He saw a future that many others chose to ignore. Wall Street didn't listen to Buffett. Derivatives grew into a massive bubble, from about $100 trillion to $516 trillion by 2007. Despite Buffett's clear warnings, a massive new derivatives bubble is driving the domestic and global economies, a bubble that continues growing today parallel with the subprime-credit meltdown triggering a bear-recession. Data on the five-fold growth of derivatives to $516 trillion in five years comes from the most recent survey by the Bank of International Settlements, the world's clearinghouse for central banks in Basel, Switzerland. Keep in mind that while the $516 trillion "notional" value (maximum in case of a meltdown) of the deals is a good measure of the market's size, the 2007 BIS study notes that the $11 trillion "gross market values provides a more accurate measure of the scale of financial risk transfer taking place in derivatives markets." The fact is, derivatives have become the world's biggest "black market," exceeding the illicit traffic in stuff like arms, drugs, alcohol, gambling, cigarettes, stolen art and pirated movies. Why? Because like all black markets, derivatives are a perfect way of getting rich while avoiding taxes and government regulations. And in today's slowdown, plus a volatile global market, Wall Street knows derivatives remain a lucrative business.

Note: $516 trillion is equivalent to $75,000 for every man, woman, and child in the world! Do you think the financial industry is out of control? For lots more powerful, reliable information on major banking manipulations, click here. For a powerful analysis describing just how crazy things have gotten and giving some rays of hope by researcher David Wilcock, click here.


Top Iraq contractor skirts US taxes offshore
2008-03-06, Boston Globe
http://www.boston.com/news/world/articles/2008/03/06/top_iraq_contractor_skir...

Kellogg Brown & Root, the nation's top Iraq war contractor and until last year a subsidiary of Halliburton Corp., has avoided paying hundreds of millions of dollars in federal Medicare and Social Security taxes by hiring workers through shell companies based in [the Cayman Islands]. More than 21,000 people working for KBR in Iraq - including about 10,500 Americans - are listed as employees of two companies that exist in a computer file on the fourth floor of a building on a palm-studded boulevard here in the Caribbean. Neither company has an office or phone number in the Cayman Islands. The Defense Department has known since at least 2004 that KBR was avoiding taxes by declaring its American workers as employees of Cayman Islands shell companies. With an estimated $16 billion in contracts, KBR is by far the largest contractor in Iraq, with eight times the work of its nearest competitor. The no-bid contract it received in 2002 to rebuild Iraq's oil infrastructure and a multibillion-dollar contract to provide support services to troops have long drawn scrutiny because Vice President Dick Cheney was Halliburton's chief executive from 1995 until he joined the Republican ticket with President Bush in 2000. The largest of the Cayman Islands shell companies - called Service Employers International Inc., which is now listed as having more than 20,000 workers in Iraq, according to KBR - was created two years before Cheney became Halliburton's chief executive. But a second Cayman Islands company called Overseas Administrative Services, which now is listed as the employer of 1,020 mostly managerial workers in Iraq, was established two months after Cheney's appointment.

Note: To read a powerful personal statement about the reality of war profiteering by a highly decorated Marine Corps general, click here.


National Dragnet Is a Click Away
2008-03-06, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/03/05/AR20080305036...

Several thousand law enforcement agencies are creating the foundation of a domestic intelligence system through computer networks that analyze vast amounts of police information. As federal authorities struggled to meet information-sharing mandates after the Sept. 11, 2001 terrorist attacks, police agencies from Alaska and California to the Washington region poured millions of ... records into shared digital repositories called data warehouses, giving investigators and analysts new power to discern links among people, patterns of behavior and other hidden clues. Those network efforts will begin expanding further this month, as some local and state agencies connect to a fledgling Justice Department system called the National Data Exchange, or N-DEx. The expanding police systems illustrate the prominent roles that private companies play in homeland security and counterterrorism efforts. They also underscore how the use of new data -- and data surveillance -- is evolving faster than the public's understanding or the laws intended to check government power and protect civil liberties. Three decades ago, Congress imposed limits on domestic intelligence activity after revelations that the FBI, Army, local police and others had misused their authority for years to build troves of personal dossiers and monitor political activists and other law-abiding Americans. Since those reforms, police and federal authorities have observed a wall between law enforcement information-gathering, relating to crimes and prosecutions, and more open-ended intelligence that relates to national security and [politics]. That wall is fast eroding following the passage of laws expanding surveillance authorities, the push for information-sharing networks, and the expectation that local and state police will play larger roles.

Note: For many revealing reports from reliable sources of serious threats to civil liberties, click here.


EPA toxicologist was dismissed after industry complained
2008-02-29, San Francisco Chronicle/Los Angeles Times
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/02/29/MNK3VB80B.DTL

Under pressure from the chemical industry, the Environmental Protection Agency has dismissed an outspoken scientist who chaired a federal panel responsible for helping the agency determine the dangers of a flame retardant widely used in electronic equipment. Toxicologist Deborah Rice was appointed chair of an EPA scientific panel reviewing the chemical a year ago. Federal records show that she was removed from the panel in August after the American Chemistry Council, the lobbying group for chemical manufacturers, complained to a top-ranking EPA official that she was biased. The chemical, a brominated compound known as deca, is [commonly] used in the plastic housings of television sets. Rice, an award-winning former EPA scientist ... has studied low doses of deca and reported neurological effects in lab animals. The EPA is in the process of deciding how much daily exposure to deca is safe - a decision, expected next month, that could determine whether it can still be used in consumer products. The role of the expert panel was to review and comment on the scientific evidence. Sonya Lunder, a senior analyst at the Environmental Working Group, an advocacy group in Washington, said it was unprecedented for the EPA to remove an expert for expressing concerns about the potential dangers of a chemical. "It's a scary world if we create a precedent that says scientists involved in decision-making are perceived to be too biased," she said. In 2004, the EPA gave Rice and four colleagues an award for what it called "exceptionally high-quality research" for a study that linked lead exposure to premature puberty in girls.

Note: For many revealing articles on government corruption, click here.


The three trillion dollar war
2008-02-23, The Telegraph (One of the U.K.'s leading newspapers)
http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/articl...

The Bush Administration was wrong about the benefits of the war and it was wrong about the costs of the war. The president and his advisers [forecast] a quick, inexpensive conflict. Instead, we have a war that is costing more than anyone could have imagined. The cost of direct US military operations - not even including long-term costs such as taking care of wounded veterans - already exceeds the cost of the 12-year war in Vietnam and is more than double the cost of the Korean War. And, even in the best case scenario, these costs are projected to be almost ten times the cost of the first Gulf War, almost a third more than the cost of the Vietnam War, and twice that of the First World War. The only war in our history which cost more was the Second World War, when 16.3 million U.S. troops fought in a campaign lasting four years, at a total cost (in 2007 dollars, after adjusting for inflation) of about $5 trillion. Most Americans have yet to feel these costs. The price in blood has been paid by our voluntary military and by hired contractors. The price in treasure has, in a sense, been financed entirely by borrowing. Taxes have not been raised to pay for it - in fact, taxes on the rich have actually fallen. Deficit spending gives the illusion that the laws of economics can be repealed, that we can have both guns and butter. But of course the laws are not repealed. The costs of the war are real even if they have been deferred, possibly to another generation. From the unhealthy brew of emergency funding, multiple sets of books, and chronic underestimates of the resources required to prosecute the war, we have attempted to identify how much we have been spending - and how much we will, in the end, likely have to spend. The figure we arrive at is more than $3 trillion. Our calculations are based on conservative assumptions.

Note: For many reports from major media sources which reveal massive war profiteering, click here.


Advertisers using 'directed sound' to get in your head
2008-02-19, Atlanta Journal-Constitution (Atlanta's leading newspaper)
http://www.ajc.com/services/content/business/stories/2008/02/18/sound_0219.html

If you hear mysterious voices in your head the next time you stroll down the street, they may be trying to sell you something. That was the case recently in New York when people walking beneath a billboard for the A&E show "Paranormal State" suddenly heard a woman's disembodied voice whisper: "Who's there? Who's there?" and "It's not your imagination." The creepy effect was caused by technology called Audio Spotlight that projects sound in a focused beam so only people in a certain spot can hear it. "The idea of directing sound was a real uphill battle when we first started, but all of a sudden people are coming to us saying, 'We have to have directional sound. We don't want all this noise in our store,' " said Woody Norris, founder of American Technology Corp. in San Diego. Norris said he has sold many units for use with video screens in checkout lines in ... grocery stores so audio can reach waiting customers without constantly bombarding store workers. While some of the advertising applications are recent, directed sound is often used in museums and other places where sound must be focused on people standing in front of an exhibit or display without disturbing those around them. Smithsonian museums in Washington have used [such] systems [as have] the New York Public Library, the Boston Museum of Fine Arts and ... the observation deck of the Seattle Space Needle. Directed-sound devices ... use narrow beams of ultrasound waves that can't be heard by human ears. The beam distorts air as it passes through, generating sound people can hear along its length.

Note: It's not hard to imagine non-advertising uses for this invasive technology. Could it possibly be used to influence people's thinking in ways other than advertising?


Lawmakers blast USDA for food inspection lapses
2008-02-19, San Francisco Chronicle/Associated Press
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/02/19/MN17V4MU9.DTL

Lawmakers and watchdog groups had harsh words Monday for the U.S. Department of Agriculture after the agency ordered a recall of 143 million pounds of beef from a Southern California slaughterhouse. Beef products dating to Feb. 1, 2006, that came from Westland/Hallmark Meat Co. of Chino (San Bernardino County) are subject to the recall, which is the largest such action in U.S. history. The notice came after the Humane Society of the United States shot undercover video showing crippled and sick animals being shoved with forklifts - treatment that has also triggered an animal-abuse investigation. A congresswoman who chairs a House subcommittee that determines funding levels for the USDA sent a letter ... to the agency's undersecretary for food safety demanding an explanation of the Westland case before a March 5 budgetary review hearing. Rep. Rosa DeLauro, D-Conn., chairwoman of the House Agriculture, Food and Drug Administration Appropriations Subcommittee, called the scenes in the video inhumane and said the video "demonstrates just how far our food safety system has collapsed." DeLauro has called for an investigation into the government's ability to secure the safety of meat in the nation's schools. Westland was a major supplier of beef for the National School Lunch Program. She also asked how the agency is addressing staff shortages among slaughterhouse inspectors - an issue also raised by several food safety experts and watchdog groups. According to Felicia Nestor, a senior policy analyst with Food and Water Watch, a consumer advocacy group based in Washington, anywhere from 7 to 21 percent of slaughterhouse inspector positions have been left vacant by the USDA, depending on the district. "They just don't fill vacancies," Nestor said.

Note: For many revealing articles from reliable sources on government corruption, click here.


Journalist Who Exposes U.N. Corruption Disappears From Google
2008-02-18, FOX News
http://www.foxnews.com/story/0,2933,331106,00.html

How big do you have to be to earn the wrath of the United Nations and Internet giant Google? If you're journalist Matthew Lee, all it takes are some critical articles and a scrappy little Web site. Lee is the editor-in-chief, Webmaster and pretty much the only reporter for Inner City Press, a pint-sized Internet news operation that's taken on Goliath-sized entities like Citigroup since 1987. Since 2005, he's been focusing almost entirely on stories that deal with internal corruption inside the U.N., posting several stories online almost daily. Many of Lee's stories were featured prominently whenever Web users looked for news about the U.N. using the powerful Google News search engine, a vital way for media outlets both large and small to get their articles read. But beginning Feb. 13, Google News users could no longer find new stories from the Inner City Press. "I think they said, 'If we can't get this guy out of the U.N., let's disappear him from the Internet,'" Lee said. It began with an innocuous-sounding yet chilling form letter from Google to Lee, e-mailed on Feb. 8: "We periodically review news sources, particularly following user complaints, to ensure Google News offers a high quality experience for our users," it said. "When we reviewed your site we've found that we can no longer include it in Google News." As soon as he read it, Lee immediately suspected one thing: That someone at the [UN] had pressured Google into "de-listing" him from Google News — essentially preventing Inner City Press from being classified on Google News as a legitimate news source and from having its stories pop up when someone conducts a Google News search.


U.S. expanding the law - domestic and foreign - to benefit corporations
2008-02-17, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/02/17/EDR1V0LCD.DTL

As a U.S. taxpayer, you may be contributing to fewer cheap drugs on international shelves. Public dollars support the Office of the U.S. Trade Representative, the trade agency with authority to pressure foreign governments to change their domestic intellectual property laws. As such, the agency actively presses for laws that would keep generic drugs out of markets worldwide. Congress is considering legislation to create a separate executive branch office dedicated to using government resources for lobbying other countries to change their laws, sometimes exclusively to benefit certain U.S. companies. That's a bad idea for patients here and abroad, because it would give the U.S. government more power in an area where it should instead have less. The trade agency's interpretation of what other countries' domestic laws need to cover expands beyond the broadest definitions within U.S. law. To give one example, data gathered during clinical trials of new drugs are not protected by copyright, patent or trademark in the United States. The Food and Drug Administration restricts use of test results finding that a brand-name drug is safe when considering the safety of identical generic drugs. The trade representative is using its authority to press for comparable rules restricting the approval process for generic drugs in other countries. It doesn't take much sleuthing to follow the money back to the U.S. pharmaceutical manufacturers on the trade agency's advisory panel, who can maintain monopolist profits while a generic drug is blocked from the market in Guatemala, Malaysia or any of the dozen other countries that the trade agency is pressuring to adopt U.S.-style restrictions on generic drug approval.

Note: For more reports on the power of the pharmaceutical industry to influence government policy, click here.


Fraud Crackdown Comes With a Loophole
2008-02-13, ABC News/Associated Press
http://abcnews.go.com/Politics/wireStory?id=4279612

A Bush administration plan to crack down on contract fraud has a multibillion-dollar loophole: The proposal to force companies to report abuse of taxpayer money will not apply to work overseas, including projects to secure and rebuild Iraq and Afghanistan. For decades, contractors have been asked to report internal fraud or overpayment on government-funded projects. Compliance has been voluntary, and over the past 15 years the number of company-reported fraud cases has declined steadily. Now, the Justice Department wants to force companies to notify the government if they find evidence of contract abuse of more than $5 million. Failure to comply could make a company ineligible for future government work. The proposal, now in the final approval stages, specifically exempts "contracts to be performed outside the United States," according to a notice published last month in the Federal Register. Critics including the watchdog group Taxpayers Against Fraud said the overseas exemption raises suspicions. "I hate to sound cynical, but what lobbyist working for a contractor in Iraq wanted this get-out-of-jail card?" asked Patrick Burns, spokesman for the government watchdog group. "I'm not saying that's the way it went - I'm just suggesting that's the most logical line to draw. I think somebody's got some explaining to do." After the invasions of Afghanistan and Iraq, the U.S. poured billions of dollars into projects [in] those nations. With the money came the fraud. At least $14 million has been lost in bribes alone over the past five years in Iraq and Afghanistan. An estimated $350 billion is spent on government contracts annually, according to the White House Office of Federal Procurement Policy.

Note: For many additional reports from reliable sources on war profiteering, click here.


The FBI Deputizes Business
2008-02-07, Common Dreams
http://www.commondreams.org/archive/2008/02/07/6918/

Today, more than 23,000 representatives of private industry are working quietly with the FBI and the Department of Homeland Security. The members of this rapidly growing group, called InfraGard, receive secret warnings of terrorist threats before the public does -- and, at least on one occasion, before elected officials. In return, they provide information to the government, which alarms the ACLU. But there may be more to it than that. One business executive, who showed me his InfraGard card, told me they have permission to "shoot to kill"ť in the event of martial law. In November 2001, InfraGard had around 1,700 members. As of late January, InfraGard had 23,682 members, according to its website, www.infragard.net, which adds that "350 of our nation's Fortune 500 have a representative in InfraGard."ť FBI Director Robert Mueller addressed an InfraGard convention on August 9, 2005. He urged InfraGard members to contact the FBI if they "note suspicious activity or an unusual event." And he said they could sic the FBI on "disgruntled employees who will use knowledge gained on the job against their employers."ť

Note: We don't normally use Common Dreams as a news source, but as this news is so important and the major media failed to report it, we decided to include this article here. For a revealing report by the ACLU on this key topic, click here. For important reports from major media sources on threats to civil liberties, click here.


Stimulus Plan a Scam to Benefit the Rich
2008-02-03, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/02/03/IN8LUO095.DTL

Congress is about to sell us the biggest fraud in American history. It's been highly touted as an economic stimulus bill that will help millions of Americans. As part of the bill, Congress is set to rush through an increase in the mortgage loan limits for Fannie Mae and Freddie Mac (and Federal Housing Administration insurance, too) - from $417,000 to $729,750 - the first step toward a massive financial disaster in which taxpayers will end up paying through the nose. Now, thanks to Congress, junk bond investors will be able to pawn off their bad debt to Fannie and Freddie. This shift will certainly doom Fannie Mae and Freddie Mac, so don't be surprised if we, the taxpayers, have to bail out poor Fannie and Freddie - to the tune of more than $1 trillion. The irony here is that the collapse in housing prices could make Fannie insolvent even without raising the loan limit. Increasing Fannie's limit is like going on a spending spree with your credit cards because you know you are going to file for bankruptcy in a few months. Only here the taxpayer is left holding the bag. Our children will pay interest on this debt in perpetuity. It is our debt. It is inescapable. In the coming months, Fannie and Freddie will buy up mortgages based on old, fraudulent appraisals and on loans with bogus inflated incomes. Unfortunately, many of these loans will still default. Expansion of Fannie and Freddie's reckless lending is exactly what Congress wants because it's plausibly deniable. Teary-eyed lawmakers can take to the airwaves a year from now and declare: "We had no idea Fannie could go under, but we can't cut and run now. Those same lawmakers won't mention the fact that they get paid far more by real estate lobbyists than they do from our Treasury.

Note: The author wrote this article seven months before the collapse of Fannie Mae and eight months before the huge banking bailout. For more news articles suggestion major manipulations to transfer public tax monies to the banking sector, click here.


Military Contractors Are Hard to Fire
2008-02-02, San Francisco Chronicle/Associated Press
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/02/02/national/w003206S...

Contract personnel working for the Defense Department now outnumber U.S. forces in Iraq and Afghanistan; there are 196,000 private-sector workers in both countries compared to 182,000 troops. Contractors are responsible for a slew of duties, including repairing warfighting equipment, supplying food and water, building barracks, providing armed security and gathering intelligence. The dependence has come with serious consequences. A shortage of experienced federal employees to oversee this growing industrial army is blamed for much of the waste, fraud and abuse on contracts collectively worth billions of dollars. "We do not have the contracting personnel that we need to guarantee that the taxpayer dollar is being protected," said William Moser, the State Department's deputy assistant secretary for logistics management. "We are very, very concerned about the integrity [of] the contracting process. We don't feel like ... we can continue in the same situation." The office of the Special Inspector General for Iraq Reconstruction has 52 open cases related to bribery, false billing, contract fraud, kickbacks and theft; 36 of those cases have been referred to the Justice Department for prosecution, according to the inspector general's office. The Army Criminal Investigation Command is busy, too. The command has 90 criminal investigations under way related to alleged contract fraud in Iraq, Kuwait and Afghanistan. Two dozen U.S. citizens have been charged or indicted so far — 19 of those are Army military and civilian employees — and more than $15 million in bribes has changed hands.

Note: For many more revelations of war profiteering, click here.


Exxon Mobil Makes Monster Profit
2008-02-01, CBS News
http://www.cbsnews.com/stories/2008/02/01/business/main3777996.shtml

Exxon Mobil Corp. [has] posted the largest annual profit [ever] by a U.S. company - $40.6 billion. Exxon Mobil also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005. The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006. The eye-popping results weren't a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 percent higher than a year ago. Crude prices reached an all-time trading high of $100.09 on Jan. 3 but have fallen about 10 percent since. Also extraordinary was Exxon Mobil's revenue, which rose 30 percent in the fourth quarter to $116.6 billion from $90 billion a year ago. For the year, sales rose to $404.5 billion - the most ever for the Irving, Texas-based company - from the $377.64 billion it posted in 2006. Exxon Mobil produces about 3 percent of the world's oil.

Note: How strange that they don't even mention that high pump prices is what fed these huge profits? If they are making such "monster" profits, why do they make the public pay such high gasoline prices?


Mature Human Embryos Created From Adult Skin Cells
2008-01-18, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/01/17/AR20080117003...

Scientists at a California company reported yesterday that they had created the first mature cloned human embryos from single skin cells taken from adults, a significant advance toward the goal of growing personalized stem cells for patients suffering from various diseases. Creation of the embryos -- grown from cells taken from the company's chief executive and one of its investors -- also offered sobering evidence that few, if any, technical barriers may remain to the creation of cloned babies. The study leader, who is also the medical director of a fertility clinic ... emphasized that he has no interest in cloning people. "It's unethical and it's illegal, and we hope no one else does it either," said Samuel H. Wood, chief executive of Stemagen in La Jolla, whose skin cells were cloned and who led the study. The closely held company hopes to make embryos that are clones, or genetic twins, of patients, then harvest stem cells from those embryos and grow them into replacement tissues. Opponents of research on human embryos lashed out at the approach. "This study seems to confirm that human cloning ... is technically possible," said Richard Doerflinger of the U.S. Conference of Catholic Bishops. "It does not answer the ethical or social questions about the mass-production of developing human lives in order to destroy them. It only tells us that these questions are more urgent than ever." Other critics noted that scientists in Japan and Wisconsin recently discovered a way to "reprogram" stem cells directly from skin cells, without having to make embryos as a middle step. "In light of the recent cell reprogramming developments, cloning-based stem cell research is less justified than ever," said Marcy Darnovsky of the Center for Genetics and Society.


USDA Recommends That Food From Clones Stay Off the Market
2008-01-16, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/01/15/AR20080115015...

The U.S. Department of Agriculture yesterday asked U.S. farmers to keep their cloned animals off the market indefinitely even as Food and Drug Administration officials announced that food from cloned livestock is safe to eat. Bruce I. Knight, the USDA's undersecretary for marketing and regulatory programs, requested an ongoing "voluntary moratorium" to buy time for "an acceptance process" that Knight said consumers in the United States and abroad will need, "given the emotional nature of this issue." Yet even as the two agencies sought a unified message -- that food from clones is safe for people but perhaps dangerous to U.S. markets and trade relations -- evidence surfaced suggesting that Americans and others are probably already eating meat from the offspring of clones. Executives from the nation's major cattle cloning companies conceded yesterday that they have not been able to keep track of how many offspring of clones have entered the food supply, despite a years-old request by the FDA to keep them off the market pending completion of the agency's safety report. At least one Kansas cattle producer also disclosed yesterday that he has openly sold semen from prize-winning clones to many U.S. meat producers in the past few years, and that he is certain he is not alone. "This is a fairy tale that this technology is not being used and is not already in the food chain," said Donald Coover, a Galesburg cattleman and veterinarian who has a specialty cattle semen business. "Anyone who tells you otherwise either doesn't know what they're talking about, or they're not being honest." Last year, [only] 22 percent of Americans who responded to a major survey said they had a favorable impression of food from clones.

Note: For lots more reliable information on how big business takes huge risks with the food we eat, click here.


Bill Moyers talks with [NY Times reporter] David Cay Johnston about Free Lunch
2008-01-08, PBS Bill Moyers Journal
http://www.pbs.org/moyers/journal/01182008/transcript1.html

BILL MOYERS: Why do some of the most powerful and privileged people in the country get a free lunch you pay for? You'll find some of the answers [in]: Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill). The theme of the book as I read it is that not that the rich are getting richer but that they've got the government rigging the rules to help them do it. DAVID CAY JOHNSTON: That's exactly right. And they're doing it in a way that I think is very crucial for people to understand. They're doing it by taking from those with less to give to those with more. We gave $100 million dollars to Warren Buffett's company last year, a gift from the taxpayers. We make gifts all over the place to rich people. Donald Trump benefits from a tax specifically levied by the State of New Jersey for the poor. Part of the casino winnings tax in New Jersey is dedicated to help the poor. But $89 million of it is being diverted to subsidize Donald Trump's casino's building retail space. George Steinbrenner, like almost every owner of a major sports franchise, gets enormous public subsidies. The major sports franchises [make] 100 percent of their profits from subsidies. In fact, if it weren't for these subsidies, the baseball, football, hockey, and basketball enterprises as a whole would be losing hundreds of millions of dollars a year. George Bush owes almost his entire fortune to a tax increase that was funneled into his pocket and into the use of eminent domain laws to essentially legally cheat other people out of their land for less than it was worth to enrich him and his fellow investors.

Note: Watch part of this amazingly revealing interview online at this link. Johnston is a prolific writer with the NY Times; to see a list of his many articles there, click here. For deeply revealing reports from reliable major media sources on financial corruption, click here.


Wall Street paying record bonuses
2008-01-08, New York Daily News/Bloomberg News
http://www.nydailynews.com/money/2008/01/18/2008-01-18_wall_street_paying_rec...

Wall Street's five biggest firms are paying a record $39 billion in bonuses for 2007. It was a year when three of the firms suffered their worst quarterly losses in history and shareholders lost over $80 billion. Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers and Bear Stearns together awarded $65.6 billion in compensation and benefits last year to their 186,000 employees. That means year-end bonuses, at 60% of the total, exceeded the $36 billion distributed in 2006 when the industry reported all-time high profits. The firms have said they are eliminating at least 6,200 jobs amid mounting losses from the subprime mortgage mess. The payouts come as the economy slows, with unemployment rising, retail sales declining and new home foreclosures surging to a record. The industry's bonuses are larger than the gross domestic products of Sri Lanka, Lebanon or Bulgaria, and the average bonus of $219,198 is more than four times higher than the median U.S. household income in 2006, according to Census Bureau data. Shareholders in the securities industry endured their worst year since 2002, as Merrill and Bear Stearns slumped more than 40% and the CEOs at both firms gave up their jobs. Morgan Stanley fell 21% and Lehman dropped 16%. Only Goldman rose, gaining 7.9%.

Note: For lots more on escalating income inequality, click here.


Pentagon Won't Probe KBR Rape Charges
2008-01-08, ABC News
http://www.abcnews.go.com/Blotter/story?id=4099514

The Defense Department's top watchdog has declined to investigate allegations that an American woman working under an Army contract in Iraq was raped by her co-workers. The case of former Halliburton/KBR employee Jamie Leigh Jones gained national attention last month. An ABC News investigation revealed how an earlier investigation into Jones' alleged gang-rape in 2005 had not resulted in any prosecution, and that neither Jones nor Democratic and Republican lawmakers have been able to get answers from the Bush administration on the state of her case. In letters to lawmakers, DoD Inspector General Claude Kicklighter said that because the Justice Department still considers the investigation into Jones' case open, there is no need for him to look into the matter. "We're not satisfied with that," a Nelson spokesman said. Jones' lawyers also professed disappointment. Despite deferring to the Justice Department, Kicklighter's office told Nelson it was willing to pursue other questions Nelson raised about Jones' case. Kicklighter agreed to explore "whether and why" a U.S. Army doctor handed to KBR security officials the results of Jones' medical examination, a so-called "rape kit," which would have contained evidence of the crime if it had occurred. In a separate letter, Kicklighter's office said that the State Department had said its security officials had Jones' rape kit in their possession at one point.

Note: For a treasure trove of reliable reports on government corruption from major media sources, click here.


FDA to Back Food From Cloned Animals
2008-01-05, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/01/04/AR20080104036...

The Food and Drug Administration is set to announce as early as next week that meat and milk from cloned farm animals and their offspring can start making their way toward supermarket shelves. The decision would be a notable act of defiance against Congress, which last month passed appropriations legislation recommending that any such approval be delayed pending further studies. Moreover, the Senate version of the Farm bill ... contains stronger, binding language that would block FDA action on cloned food, probably for years. The FDA has hinted strongly in the past year that it is ready to lift its "voluntary moratorium" on the marketing of milk and meat from clones and their offspring, saying that the science led them to that decision. But public opinion has been negative on the issue, with some saying that not enough safety studies have been conducted and others concerned about the health of the clones, which are far more likely than ordinary farm animals to die early in life. A handful of U.S. companies have pushed for marketing approval. Margaret Mellon of the Union of Concerned Scientists, an advocacy group, said she had read the entire 678-page draft risk assessment and found it to be "long on assumptions and short on data, and especially short on the data that are directly relevant to food consumption safety." Of particular concern, she said, was that even though the vast majority of clones die either before birth or soon after, those that survive are deemed normal. She said the FDA should withhold approval at least until it has a regulatory plan in place that will give it an ability to track food from clones and watch for human health impacts. Others have called for mandatory labeling so consumers can avoid products from clones. The FDA has said that lacking any safety concerns, it will not demand such labels. The Agriculture Department has also declared that meat from clones cannot be deemed organic.

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