Corporate Corruption Media Articles

Excerpts of Key Corporate Corruption Media Articles in Major Media

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The powerful and now-departed men of CBS - [Les] Moonves, [Jeff] Fager and star interviewer Charlie Rose - helped shape how our society sees women. The network, after all, is the most-watched in the nation. “60 Minutes” for 50 years has been the very definition of quality broadcast journalism: the gold standard. It’s impossible to know how different America would be if power-happy and misogynistic men hadn’t been running the show in so many influential media organizations - certainly not just CBS. What if Mark Halperin, for instance, had not been a network commentator during the 2016 presidential campaign? (James Wolcott of Vanity Fair aptly described him as ... “the most influential” of the men who were felled by sexual-misconduct allegations last year.) What if Bill O’Reilly of Fox News hadn’t been the biggest cable TV star in the nation when a woman had a major-party presidential nomination for the first time? (O’Reilly was forced out after it emerged that he had made a $32 million settlement with an accuser.) What if Roger Ailes hadn’t presided for decades over Fox News, where his own well-documented abuses bled freely into his network’s commentary. A media figure doesn’t have to show up for a business meeting in an open bathrobe to do harm. He can help frame the coverage of a candidate’s supposedly disqualifying flaws. He can squelch a writer’s promising work. He can threaten an underling’s job if she doesn’t stay in line. All these little moments add up.

Note: For more along these lines, see concise summaries of deeply revealing news articles on sexual abuse scandals and media corruption.

Leslie Moonves, the longtime chief executive of the CBS Corporation, stepped down on Sunday night from the company he led for 15 years. His fall from Hollywood’s highest echelon was all but sealed after the publication earlier in the day of new sexual harassment allegations against him. Mr. Moonves ... could still walk away with more than $120 million. However, [he] will not receive any severance payment until the completion of an independent investigation into the allegations. He has been under intense pressure since July, when The New Yorker published an article by the investigative journalist Ronan Farrow in which six women accused Mr. Moonves of sexual harassment. On Sunday, the magazine published another article by Mr. Farrow in which six more women detailed claims against Mr. Moonves. Mr. Moonves is the latest high-powered entertainment figure to be ousted from his perch in the #MeToo era. The movie producer Harvey Weinstein has been accused by scores of women of sexual assault and now faces felony charges. Matt Lauer stepped down as the anchor of NBC’s most valuable news program, “Today,” after several women alleged incidents of sexual harassment. Charlie Rose of CBS and PBS left the airwaves after he, too, was implicated by multiple women. And Fox News saw the departures of the founding executive Roger Ailes and its top-rated host, Bill O’Reilly. The allegations go back years — in some cases even decades.

Note: For more along these lines, see concise summaries of deeply revealing news articles on sexual abuse scandals and media corruption.

Two weeks ago, conservative commentator David Harris Jr. took a video of himself posting to Facebook. Why video something so common? Because he had a hunch what would happen. Sure enough, his post went through, but a photo of a letter that accompanied the post mysteriously vanished and did not show up in his feed until days later – proof, he said, that the sharing service was biased against conservatives. At a Wednesday House committee meeting, Twitter CEO Jack Dorsey was barraged with examples from Republican congressmen of how conservative voices were being suppressed on its service. On the same day, the US Department of Justice announced that Attorney General Jeff Sessions would meet with state attorneys general to discuss concerns tech companies "may be hurting competition and intentionally stifling the free exchange of ideas on their platforms." The immediate result is increasing and bipartisan pressure for social media platforms to be more transparent about their algorithms and how they block certain content. Longer-term, the threat is more regulation of the platforms, something that even free-market conservatives are reluctantly talking about doing if social media doesn’t clean up its act. Twitter’s Dorsey and Facebook’s chief operating officer Sheryl Sandberg repeatedly denied that their companies were trying to tip the scales for or against any party or political ideology. But the pileup of anecdotal evidence clearly has exasperated conservative lawmakers.

Note: For more along these lines, see concise summaries of deeply revealing media corruption news articles from reliable major media sources.

In October, when Ronan Farrow published his first article in The New Yorker on the alleged transgressions of Harvey Weinstein, people in the media and entertainment industries wondered how NBC had missed the story. After all, Mr. Farrow had spent months gathering material on the mogul when he was with NBC News. Now a producer who worked closely with Mr. Farrow has accused the network of putting a stop to the reporting, saying the order came from “the very highest levels of NBC.” Rich McHugh, the producer, who recently left his job in the investigative unit of NBC News, is the first person affiliated with NBC to publicly charge that the network impeded his and Mr. Farrow’s efforts to nail down the story of Mr. Weinstein’s alleged sexual misconduct. He called the network’s handling of the matter “a massive breach of journalistic integrity.” “Three days before Ronan and I were going to head to L.A. to interview a woman with a credible rape allegation against Harvey Weinstein, I was ordered to stop, not to interview this woman,” Mr. McHugh said. “And to stand down on the story altogether.” There was a point in our reporting where I felt there were obstacles to us reporting this externally, and there were obstacles to us reporting this internally,” the producer said. “Externally, I had Weinstein associates calling me repeatedly. I knew that Weinstein was calling NBC executives directly. One time it even happened when we were in the room.”

Note: NBC's chief executive stepped down amid sexual harassment claims 10 days after this article came out. For more along these lines, see concise summaries of deeply revealing news articles on media corruption and sexual abuse scandals.

It’s been three weeks since a San Francisco jury found that exposure to Monsanto’s Roundup herbicides contributed to former school groundskeeper Dewayne “Lee” Johnson’s terminal cancer and awarded a stunning $289 million in damages. During that time, we’ve seen repeated assertions from the pesticide giant and its allies that, in fact, the jury was wrong. Corporate assurances of safety leave out one important word - a word that is critically important to anyone who wants to make an informed decision about the cancer risk associated with ... glyphosate-based herbicides. That word is “independent.” Truly independent research has shown that there is reason for concern. Independent and peer-reviewed works ... convinced the cancer research arm of the World Health Organization to determine that glyphosate is a probable human carcinogen. In the wake of that WHO finding, California added glyphosate to the state’s list of cancer-causing chemicals. Monsanto’s response to that 2015 classification was more manipulated science. An “independent review” of glyphosate showed up in a peer-reviewed scientific journal decrying the IARC classification. The review not only was titled as being independent, but declared that no Monsanto employee had any involvement in the writing of it. Yet the company’s internal emails, turned over in discovery associated with the litigation, revealed that a Monsanto scientist in fact aggressively edited and reviewed the analysis prior to its publication.

Note: The EPA continues to use industry studies to declare Roundup safe while ignoring independent scientists. A recent independent study published in a scientific journal also found a link between glyphosate and gluten intolerance. Internal FDA emails suggest that the food supply contains far more glyphosate than government reports indicate. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and health.

Sen. Elizabeth Warren on Tuesday introduced what she describes as the most ambitious anti-corruption legislation since Watergate. Warren's Anti-Corruption and Public Integrity Act ... aims to nix the influence of big money in politics. The legislation would "padlock" the revolving door in Washington by placing a lifetime ban on lobbying by former members of Congress, presidents and agency heads. The legislation would also expand the definition of who is a lobbyist to anyone who spends any time attempting to influence government. The proposal would also prohibit the world's largest companies, something defined by a company's annual revenue or market capitalization, from hiring or paying any former senior government official for four years after they leave government. Former senior officials would also have to file income disclosures for four years after federal employment. Warren's legislation would also ban members of Congress, cabinet secretaries, federal judges and other top government officials from owning and trading stocks. Currently, members simply need to disclose their stocks and trades. The bill would also create an entirely new office designed to police public corruption, called the Office of the Public Integrity, to strengthen enforcement and investigate possible violations.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the corporate world.

States around the country are clamping down on pharmaceutical companies, forcing them to disclose and justify price increases, but the drug manufacturers are fighting back, challenging the state laws as a violation of their constitutional rights. Even more states are, for the first time, trying to regulate middlemen who play a crucial role by managing drug benefits for employers and insurers, while taking payments from drug companies in return for giving preferential treatment to their drugs. Twenty-four states have passed 37 bills this year to curb rising prescription drug costs. Maryland tried a particularly bold approach. After reports of huge increases in the prices of certain generic drugs, Maryland banned “price gouging,” defined as an unconscionable increase in the price of any “essential off-patent or generic drug.” A drug company that flouts the law could be fined $10,000 and be required to pay refunds to consumers. [A] lobby for generic drug companies ... filed suit to block the law, and the United States Court of Appeals for the Fourth Circuit, in Richmond, Va., struck down the law, saying it interfered with interstate commerce in violation of the Constitution. In a lengthy dissent, Judge James A. Wynn Jr. said that Maryland should be able to protect the health and welfare of its citizens. The court, he said, was accepting the drug companies’ view that they were “constitutionally entitled to impose conscience-shocking price increases” on consumers.

Note: Read how a major drug price increase nearly bankrupted the city of Rockford, Illinois. For more along these lines, see concise summaries of deeply revealing Big Pharma corruption news articles from reliable major media sources.

CEOs at the 350 largest U.S. companies received 312 times as much in compensation as typical employees in 2017, according to a study released Thursday. The average chief executive received $18.9 million last year, a 17.6 percent increase from 2016, as the wages of a typical worker rose just 0.3 percent, according to research by the Economic Policy Institute, a Washington-based think tank. The highest CEO-to-worker pay ratio ever recorded is 344-to-1, in 2000. In 1965, it was 20-to-1. In 1989, it was 58-to-1. "CEO compensation has grown far faster than stock prices or corporate profits," EPI said in an online summary of the findings. "CEO compensation rose by 979 percent [based on stock options granted] or 1,070 percent [based on stock options realized] between 1978 and 2017. ... Higher CEO pay does not reflect correspondingly higher output or better firm performance. Exorbitant CEO pay therefore means that the fruits of economic growth are not going to ordinary workers."

Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.

An 11-year-old has been able to hack into a replica of Florida’s election system in 10 minutes during a test ahead of upcoming US midterm elections this November. The boy was the fastest of 35 children who were able to hack into replicas of the websites of six swing states during the three-day Def Con security convention. The results of those efforts to test the strength of US election infrastructure will be passed onto the states, and the National Association of Secretaries of State - the officials responsible for tallying and confirming vote totals - said that they welcome the efforts. The results highlight potential security lapses amid heightened concern that American voter rolls will be tampered with in the upcoming midterm elections, and after President Donald Trump’s national security team warned that Russia had launched “pervasive” efforts to interfere in America’s 2018 elections. The convention indicated that the hackers were able to change party names in the systems, and added as many as 12 billion votes to candidates. “Candidates names were changed to ‘Bob Da Builder’ and ‘Richard Nixon’s head’,” the convention said in a tweet. The winning hacker was identified as Emmett Brewer, a boy whose Twitter account says he lives in Austin, Texas.

Note: For more along these lines, see concise summaries of deeply revealing elections corruption news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our Elections Information Center.

Corporate profits are booming, but average wages haven’t budged. In the early 1980s, large American companies sent less than half their earnings to shareholders, spending the rest on their employees and other priorities. But between 2007 and 2016, large American companies dedicated 93% of their earnings to shareholders. Because the wealthiest 10% of U.S. households own 84% of American-held shares, the obsession with maximizing shareholder returns effectively means America’s biggest companies have dedicated themselves to making the rich even richer. In the four decades after World War II, shareholders on net contributed more than $250 billion to U.S. companies. But since 1985 they have extracted almost $7 trillion. That’s trillions of dollars in profits that might otherwise have been reinvested in the workers who helped produce them. Before “shareholder value maximization” ideology took hold, wages and productivity grew at roughly the same rate. But since the early 1980s, real wages have stagnated even as productivity has continued to rise. Workers aren’t getting what they’ve earned. Companies also are setting themselves up to fail. Retained earnings were once the foundation for long-term investments. But from 1990 to 2015, nonfinancial U.S. companies invested trillions less than projected, funneling earnings to shareholders instead. This underinvestment handcuffs U.S. enterprise and bestows an advantage on foreign competitors. We should insist on a new deal.

Note: The above was written by Sen. Elizabeth Warren in conjunction with her introduction of the "Accountable Capitalism Act". For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and income inequality.

Google wants to know where you go so badly that it records your movements even when you explicitly tell it not to. An Associated Press investigation found that many Google services on Android devices and iPhones store your location data even if you've used privacy settings that say they will prevent it from doing so. Computer-science researchers at Princeton confirmed these findings at the AP's request. Storing your minute-by-minute travels carries privacy risks. So the company will let you "pause" a setting called Location History. Google's support page on the subject states: "You can turn off Location History at any time. With Location History off, the places you go are no longer stored." That isn't true. Even with Location History paused, some Google apps automatically store time-stamped location data without asking. For example, Google stores a snapshot of where you are when you merely open its Maps app. And some searches that have nothing to do with location, like "chocolate chip cookies," or "kids science kits," pinpoint your precise latitude and longitude - accurate to the square foot - and save it to your Google account. Since 2014, Google has let advertisers track the effectiveness of online ads at driving foot traffic, a feature that Google has said relies on user location histories. The company is pushing further into such location-aware tracking to drive ad revenue, which rose 20 percent last year to $95.4 billion.

Note: This article instructs you how to effectively delete Google's tracking of your movements. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the disappearance of privacy.

Astroturfing is when corporations or organization[s] try to make it seem as though whatever they are selling is part of a grassroots movement. For example when a seeming small group calling themselves Americans Against Food Taxes run a national ad campaign against a potential beverage tax. It’s not paid for by a small grassroots movement of concerned citizens, but a large beverage conglomerate lobbying against a soda tax. According to [John] Oliver, in the wake of U.S. Supreme Court decisions like Citizens United, astroturfing is becoming increasing common. Like a national wetlands organization funded by real estate developers and oil companies and a seeming restaurant worker group campaigning against minimum wage increase. “It’s pure straight up opposite world,” said Oliver. Some astroturfing experts work with many special interest groups, creating nonprofit shell companies of sorts to ensure that their ties to the fake grassroots campaigns can be kept secret. One of “the most infuriating tools” of astroturfing is the use of paid protestors. These paid protestors show up at places like town hall meetings masquerading as concerned citizens and reciting lines fed to them by special interest groups. The existence of these paid protestors is now a common theme on conspiracy message boards. “That is hugely dangerous,” said Oliver.

Note: The New York Times recently reported on the Koch Brothers' use of tactics like this to kill public transit projects. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the manipulation of public perception.

When Ron Nixon, The New York Times's homeland security correspondent, got an exclusive story about a top Department of Health and Human Services official admitting the agency lost track of nearly 1,500 migrant children, he couldn't publish it right away. It was, without a doubt, the kind of breaking news The Times considers important to delve into quickly and thoroughly. But Mr. Nixon had agreed to an embargo that required him to wait until 10 a.m. on the morning of a congressional hearing about how the agency was keeping track of migrant children to publish his article. Embargoes, set by government agencies, medical journals, theater groups, publishing houses and countless other sources are a common practice in journalism. They entail an agreement between a source and a reporter, or the reporter's publication, that the story will not be published before a given date and time. While it's certainly not a crime to break an embargo, – and in fact, many reporters do so by accident, by misreading a time zone, for example – it comes with consequences. When one news outlet breaks an embargo and hits the publish button, the embargo is lifted for all of the outlets, sometimes instigating a scramble to the finish line. For anyone who breaks an embargo, there's a risk of losing a relationship with a source. Sometimes, the damage is necessary in order to serve readers best. And sometimes ... a reporter may not want to break an embargo. "I try to keep my word," Mr. Nixon said. "That's currency."

Note: For more along these lines, see concise summaries of deeply revealing news articles on media manipulation from reliable major media sources.

A jury ordered chemical giant Monsanto to pay $289 million Friday to a school groundskeeper who got terminal cancer after using Roundup, one of the world's most popular weed killers. The Superior Court jury [found] that Dewayne Johnson's non-Hodgkin lymphoma was at least partly due to using glyphosate, the primary ingredient in Roundup. Johnson regularly used glyphosate to spray fields while working as a groundskeeper. Monsanto "acted with malice, oppression or fraud and should be punished for its conduct," Judge Suzanne Ramos Bolanos announced in court. Hundreds of lawsuits claiming Roundup causes cancer have been given the green light to proceed to trial. Cancer victims and families presenting cases say Monsanto knew about the ingredient's risk for years, but failed to warn buyers. Johnson's doctors testified he is unlikely to live past 2020. The 46-year-old Bay-area resident worked for a California county school system and applied the weed killer up to 30 times per year as part of his pest-control responsibilities. During that time, he mixed and sprayed hundreds of gallons of the chemical. “Today the jury confirmed what we have known since our investigation began — that Monsanto knew Roundup contained cancer-causing ingredients and failed to take this product off the shelf and protect consumers. The company chose corporate profit and greed above humanity,” said Micah Dortch of the Potts Law Firm.

Note: The EPA continues to use industry studies to declare Roundup safe while ignoring independent scientists. A recent independent study published in a scientific journal found a link between glyphosate and gluten intolerance. Internal FDA emails suggest that the food supply contains far more glyphosate than government reports indicate. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and health.

Just days after Google, Facebook and Apple purged videos and podcasts from the right-wing conspiracy site Infowars from their sites, the Infowars app has become one of the hottest in the country. On Wednesday, Infowars was the No. 1 overall “trending” app on the Google Play store. Among news apps, Infowars was No. 3 on Apple and No. 5 on Google, above all mainstream news organizations. The Infowars app, which includes news articles and the shows of the conspiracy theorist Alex Jones, had likely been downloaded a few hundred to a few thousand times a day on average after its introduction last month, said Randy Nelson ... at Sensor Tower, which tracks app data. Now, it is likely getting 30,000 to 40,000 downloads a day, Mr. Nelson estimated. “This is such a niche app with niche content, that for it to make that sort of jump means it has become very interesting to a much broader audience,” said Jonathan Kay, a co-founder of Apptopia, an app analytics firm. “Essentially, it’s gone from being niche to being mainstream.” Mr. Jones has achieved infamy and financial success for spreading lies. Many of his most outlandish claims are made during his show, which runs live for four hours each weekday and is streamed and rebroadcast across the internet. YouTube, Facebook, Spotify and Apple’s podcasts service were all important distribution points for the show.

Note: How many other conspiracy websites will be shut down for "spreading lies"? What happened to freedom of speech? Will the major media be shut down for "spreading lies" of it own? For more along these lines, see concise summaries of deeply revealing media manipulation news articles from reliable major sources.

News that the Environmental Protection Agency pressured the federal Agency for Toxic Substances and Disease Registry to suppress a study showing PFAS chemicals to be even more dangerous than previously thought drew outrage this spring. The EPA pressure delayed the study’s publication for several months. But the dangers presented by these industrial chemicals have been known for decades, not just a few months or years. A lawsuit filed by Minnesota against 3M, the company that first developed and sold PFOS and PFOA, the two best-known PFAS compounds, has revealed that the company knew that these chemicals were accumulating in people’s blood for more than 40 years. 3M researchers documented the chemicals in fish, just as the Michigan scientist did, but they did so back in the 1970s. The suit, which the Minnesota attorney general filed in 2010, charges that 3M polluted groundwater with PFAS compounds and “knew or should have known” that these chemicals harm human health and the environment, and “result in injury, destruction, and loss of natural resources of the State.” The complaint argues that 3M “acted with a deliberate disregard for the high risk of injury to the citizens and wildlife of Minnesota.” 3M settled the suit for $850 million in February, and the Minnesota Attorney General’s Office released a large set of documents — including internal studies, memos, emails, and research reports — detailing what 3M knew about the chemicals’ harms.

Note: Much more is available in this revealing article. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and health.

The New Yorker has published a bombshell investigation of the head of CBS Corporation that includes allegations of sexual misconduct. The article by Ronan Farrow alleges that CBS chairman and CEO Leslie Moonves engaged in inappropriate sexual behavior, including unwanted kissing and touching that occurred over 20 years ago. Farrow told ABC News that his latest piece is "about six women who did an incredibly brave thing: overcoming tremendous fear of retaliation to speak about their experiences with Moonves. But it’s also a story about dozens and dozens of sources who told us that a culture of harassment and retaliation had permeated various facets of his company," he said. The women recalled events when they were threatened with retaliation when rebuffing advances and detailed accounts of sexual assault. They "say that they are still afraid of Les Moonves," Farrow said. "They are speaking because they believe there is a broader culture around him in which he has protected other men who have engaged in similar misconduct," Farrow said. Moonves denied any allegations of sexual assault but acknowledged, "I recognize that there were times decades ago when I may have made some women uncomfortable by making advances. Those were mistakes, and I regret them immensely." A person "familiar with the situation" told The Wall Street Journal that CBS has no plans to sideline Moonves.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and sexual abuse scandals.

A former school groundskeeper, diagnosed with terminal cancer, told a San Francisco jury Monday that he called a Monsanto Co. hotline twice - once before his diagnosis, once after - and asked whether the herbicide he was spraying on the job, the most widely used weed killer in the world, could cause harm to humans. Both times ... the person at the other end of the line listened to his account of being accidentally doused with the herbicide glyphosate, and said someone would call him back. No one ever did. “I would never have sprayed the product around school grounds or around people if I thought it would cause them harm,” Johnson told a Superior Court jury. Johnson ... was diagnosed with non-Hodgkin lymphoma in October 2014 and with ... a more aggressive form of the cancer in March 2015. Even after the latter diagnosis, Johnson said he continued to spray Monsanto’s product, a high-concentration brand of glyphosate called Ranger Pro, until he became convinced that it was dangerous and refused to use it in his final months on the job. His damage suit, now into its third week, is the first of about 4,000 nationwide to go to trial against Monsanto, now a subsidiary of Bayer. In 2015, the World Health Organization’s International Agency for Research on Cancer classified glyphosate as a probable human carcinogen. [Johnson] said ... a supervisor told him the product was safe as long as he wore long-sleeved shirts, pants, shoes and socks.

Note: As major lawsuits like this one against Monsanto unfold, the EPA continues to use industry studies to declare Roundup safe while ignoring independent scientists. A recent independent study published in a scientific journal found a link between glyphosate and gluten intolerance. Internal FDA emails suggest that the food supply contains far more glyphosate than government reports indicate. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and health.

We the people of the United States find ourselves in a political crisis. Irrespective of where we fall on the political spectrum, a great many of us don’t trust our own political system. Nor should we: It represents power that is captive to interests quite at odds with our own. Two recent news stories brought this home ... in a way that might help us find common cause. The first story was about a meeting of the World Health Organization. Ecuador introduced a resolution calling on governments to “protect, promote and support breast-feeding” and to restrict promotion of food products found to have deleterious effects on young children. Most ... rallied behind the initiative. The United States’ representatives stood firmly in opposition. They even threatened Ecuador with trade sanctions and a cutback in military aid. The U.S. representatives left ... no doubt that they were representing the interest of transnational corporations that sell infant formula. Within days of the breastfeeding incident, President Trump was attacking the U.S.’s NATO allies in Europe for spending too little on their militaries. At first mention his argument seemed reasonable. But ... our problem is not that our allies are spending too little on war, but that we are spending far too much. The interests served by bloated military ... are corporations that profit from defense contracts. Defense contractors and infant formula corporations are just two examples of the abuse of unaccountable institutional power in which both ... parties have been complicit for decades.

Note: For more along these lines, see concise summaries of deeply revealing government corruption news articles from reliable major media sources.

All over the western world banks are shutting down cash machines and branches. They are trying to push you into using their digital payments and digital banking infrastructure. Financial institutions ... are trying to nudge us towards a cashless society and digital banking. The true motive is corporate profit. Payments companies such as Visa and Mastercard want to increase the volume of digital payments services they sell, while banks want to cut costs. The nudge requires two parts. First, they must increase the inconvenience of cash. Second, they must vigorously promote the alternative. But a cashless society is not in your interest. It is in the interest of banks and payments companies. Their job is to make you believe that it is in your interest too, and they are succeeding in doing that. The recent Visa chaos, during which millions of people who have become dependent on digital payment suddenly found themselves stranded when the monopolistic payment network crashed, was a temporary setback. Digital systems may be “convenient”, but they often come with central points of failure. Cash, on the other hand, does not crash. It does not rely on external data centres, and is not subject to remote control or remote monitoring. The cash system allows for an unmonitored “off the grid” space. This is also the reason why financial institutions and financial technology companies want to get rid of it. Cash transactions are outside the net that such institutions cast to harvest fees and data.

Note: For more on this questionable trend, see this article and this one in the UK's Guardian. For more along these lines, see concise summaries of deeply revealing news articles on financial industry corruption and the disappearance of privacy.

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.