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.

Emails released as part of a federal lawsuit against Monsanto suggest the agriculture supplier cozied up to an EPA regulator and sought to whitewash studies to ignore potential cancer-causing effects of an herbicide found in weed-killer. NPR reports the emails show the company asked scientists to co-sign safety studies on glyphosate, an active ingredient in Roundup, after the International Agency for Research on Cancer found glyphosate may cause cancer. The emails show company representative William Heydens suggesting the company "ghost-write" a finding. He wrote, according to NPR, "we would be keeping the cost down by us doing the writing and they would just edit & sign their names so to speak." The emails ... also show EPA regulator Jess Rowland boasting in a 2015 email to Monsanto that, "If I can kill this I should get a medal," referring to a Monsanto effort to stop a government investigation into glyphosate. CBS reported another email from a Monsanto employee to an EPA director said, "I doubt EPA and Jess can kill this, but it's good to know they are going to actually make the effort." The company defended the relationship in an interview with Bloomberg. Rowland ... has left the EPA's pesticide division and is involved in about two dozen lawsuits related to the company not disclosing potential cancer-causing hazards of glyphosate.

Note: The negative health impacts of Monsanto's Roundup are well known. Major lawsuits are beginning to unfold over Monsanto's lies to regulators and the public on the dangers of glyphosate. Yet the EPA continues to use industry studies to declare Roundup safe while ignoring independent scientists. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and health.

A retired US Navy admiral is one of six former officers arrested and charged with bribery in a recently-unsealed indictment, part of an ongoing investigation into the “Fat Leonard” scandal. Retired Navy Adm. Bruce Loveless ... stood accused of providing classified information and offering preferential business treatment to Malaysian defense contractor Leonard Glenn Francis, known as “Fat Leonard.” In exchange, the indictment charges, he and the other members of Mr. Francis’s “Wolf Pack” received a host of bribes, including meals, hotels, and encounters with prostitutes. Francis’s company, Glenn Defense Marine Asia, had long serviced Navy ships in the Pacific, cleaning, refueling, and restocking the ships. Over the course of a decade starting round 2005, Francis and his company worked to develop ties with Navy officers. These Navy officers, in turn, helped recruit others who might be willing to share classified shipping schedules and route Navy ships through ports where Francis’s company could charge fake tariffs, prosecutors allege. In 2007, an email from chief warrant officer Robert Gorsuch told Francis that these officers were developing “personality profiles” on potential recruits. The rewards for participating Navy officers for this association – which Francis admitted in 2015 cost the Navy $200 million – were substantial. The indictment enumerates the bribes received by officers between 2006 and 2012. All in all, 13 defendants have pleaded guilty so far.

Note: At one point, Frances bribed Naval officials to redirect an aircraft carrier, and avoided prosecution for years by also bribing military investigators. For more along these lines, see concise summaries of deeply revealing news articles about corruption in the military and in the corporate world.

President Trump directed the Environmental Protection Agency on Wednesday to shelve aggressive vehicle fuel economy targets that have been a foundation for battles against climate change and harmful pollution in California and across the country. The regulations to be reviewed ... had set ambitious targets for vehicle mileage. The decision puts the White House on a path toward a direct and costly confrontation with California. State officials, pointing to California’s unique authority under the Clean Air Act, have made clear they will not waver from requiring passenger cars to average about 54 miles per gallon by 2025, up from an average of 36 miles per gallon today. Trump’s announcement comes amid a lobbying blitz from a coalition of the world’s largest vehicle makers, which complained in a letter to the new administration that the existing EPA rules place unreasonable and expensive demands on the industry. The ultimate fate of the regulations may now be decided in a legal brawl between California and the Trump administration. The state is already moving to defend the federal regulations in court. "Any weakening or delay of the national standards will result in increased harms to our natural resources, our economy, and our people,” reads a legal filing submitted Tuesday by the state. Under the Clean Air Act, the state can impose emissions standards stronger than those set by the federal government, and a dozen other states have embraced the California rules.

Note: Many believe that fuel efficiency is determined by marketplace demand for more efficient vehicles. As this article shows, this is not the case. Congress mandates the average mpg of vehicles sold, and industry must comply. For more, see this essay.

As deaths from painkillers and heroin abuse spiked and street crimes increased, the mayor of Everett took major steps to tackle the opioid epidemic devastating this working-class city north of Seattle. Mayor Ray Stephanson stepped up patrols, hired social workers to ride with officers and pushed for more permanent housing for chronically homeless people. The city says it has spent millions combating OxyContin and heroin abuse. So Everett is suing Purdue Pharma, maker of the opioid pain medication OxyContin, in an unusual case that alleges the drugmaker knowingly allowed pills to be funneled into the black market and the city of about 108,000. “Purdue Pharmaceuticals was knowingly putting OxyContin into the black market in our community,” Stephanson told CBS Seattle affiliate KIRO-TV earlier this year. He said the opioid crisis caused by “Purdue’s drive for profit” has overwhelmed the city’s resources, stretching everyone from first responders to park crews who clean up discarded syringes. In 2007, Purdue Pharma and its executives paid more than $630 million in legal penalties to the federal government for willfully misrepresenting the drug’s addiction risks. The same year, it also settled with Washington and other states that claimed the company aggressively marketed OxyContin ... while downplaying the addiction risk. A Los Angeles Times report [published last summer] found Purdue had evidence that pointed to illegal trafficking of its pills but in many cases did nothing to notify authorities or stop the flow.

Note: For other reliable information on pharmaceutical involvement in the huge increase in opioid deaths, see Dr. Mercola's excellent article. For more along these lines, see concise summaries of deeply revealing pharmaceutical corruption news articles from reliable major media sources.

The reputation of Roundup, whose active ingredient is the world’s most widely used weed killer, took a hit on Tuesday when a federal court unsealed documents raising questions about its safety and the research practices of its manufacturer, the chemical giant Monsanto. Monsanto’s internal emails and email traffic between the company and federal regulators ... suggested that Monsanto had ghostwritten research that was later attributed to academics and indicated that a senior official at the Environmental Protection Agency had worked to quash a review of Roundup’s main ingredient, glyphosate, that was to have been conducted by the United States Department of Health and Human Services. The files were unsealed by Judge Vince Chhabria, who is presiding over litigation brought by people who claim to have developed non-Hodgkin’s lymphoma as a result of exposure to glyphosate. The litigation was touched off by a determination made nearly two years ago by the International Agency for Research on Cancer, a branch of the World Health Organization, that glyphosate was a probable carcinogen. Court records show that Monsanto was tipped off to the determination by a deputy division director at the E.P.A., Jess Rowland, months beforehand. That led the company to prepare a public relations assault on the finding well in advance of its publication. Last year, a review by The New York Times showed how the [chemical] industry can manipulate academic research or misstate findings.

Note: The negative health impacts of Monsanto's Roundup are well known. Major lawsuits are beginning to unfold over Monsanto's lies to regulators and the public on the dangers of glyphosate. Yet the EPA continues to use industry studies to declare Roundup safe while ignoring independent scientists. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and health.

Two former high-level Penn State administrators pleaded guilty Monday to misdemeanor charges of child endangerment, for their roles in covering up child sex abuse by disgraced assistant football coach Jerry Sandusky. Former Vice President Gary Schultz and former Athletic Director Tim Curley each took a plea bargain that - if accepted by the judge - will carry a penalty of up to five years in prison and a $10,000 fine. As part of the plea bargain, the felony charges they originally faced were reduced to misdemeanors. The pleas also open the possibility they may testify against former university President Graham Spanier ... who has been charged with a conspiracy felony and a child endangerment misdemeanor. The charges against all three men pertain to how they handled the multiple allegations of sexual abuse against Sandusky, who in 2012 was convicted of sexually abusing 10 boys over a 15-year span. "Prosecutors said Spanier, Curley and Schultz knew of complaints involving Sandusky showering with boys in 1998 and 2001," The Associated Press reported in 2012. A series of 2001 emails — now key to the government's case — show that the men at least considered the situation serious enough to possibly warrant police intervention. They ultimately rejected the idea of calling authorities. "This was not an oversight," then-Pennsylvania Attorney General Linda Kelly said in 2012. "It was not misjudgment on their part. This was a conspiracy of silence by top officials to actively conceal the truth."

Note: Read more about how senior Penn State officials covered up Sandusky's crimes due to fears of bad publicity. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.

Lawyers in Pennsylvania say their client was sexually exploited at a motel for years, alleging the teen girl was a victim of human trafficking. “This child was forced into sex slavery,” attorney Nadeem Bezar told reporters. The teen’s lawyers are using Pennsylvania’s human trafficking law to sue the motel where they say their client was sexually exploited, marking the first civil suit under the law since it was enacted in 2014. Lawyers allege employees at the Roosevelt Inn in northeast Philadelphia knew that a 14-year-old girl was being held against her will for two years. She was forced to have sex with more than 1,000 men. The girl, now 17, wants the hotel to pay for what happened to her. She’s suing the motel’s owners, the motel’s management company and the manager himself. According to the [Philadelphia] Inquirer, the girl managed to escape and reconnect with her family after two years at the motel. Those responsible for trafficking the teen were convicted and sentenced to prison. The motel is well-known to Philadelphia prosecutors as “the epicenter of human trafficking” in the city. An assistant district attorney, Erin O’Brien, told the Inquirer that [motel manager Yanga] Patel had cooperated with police in previous investigations, but said “almost every trafficking investigation we have, we see the victim is at Roosevelt Inn.” “You can’t have a line of johns out the front door and around the room waiting without them knowing,” [Attorney Tom] Kline said. “The front desk would direct the traffic to the room of this child.”

Note: Watch an excellent segment by Australia's "60-Minutes" team "Spies, Lords and Predators" on a pedophile ring in the UK which leads directly to the highest levels of government. A second suppressed documentary, "Conspiracy of Silence," goes even deeper into this topic in the US. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.

An increasing proportion of sperm - now about 90 percent in a typical young man - are misshapen, sometimes with two heads or two tails. Even when properly shaped, today’s sperm are often pathetic swimmers. Sperm counts also appear to have dropped sharply in the last 75 years, in ways that affect our ability to reproduce. Andrea Gore, a professor of pharmacology at the University of Texas at Austin and the editor of the journal Endocrinology, put it to me this way: “Semen quality and fertility in men have decreased. Not everyone who wants to reproduce will be able to. And the costs of male disorders to quality of life, and the economic burden to society, are inestimable.” Human and animal studies suggest that a crucial culprit is a common class of chemical called endocrine disruptors, found in plastics, cosmetics, couches, pesticides and countless other products. Because of the environmental links, The New Yorker once elegantly referred to the crisis as “silent sperm,” and innumerable studies over 25 years add to the concern. Related to the problem of declining semen quality is an increase in testicular cancer in many countries; in undescended testicles; and in a congenital malformation of the penis. The crisis for male reproductive health seems to begin in utero. Male and female fetuses start pretty much the same, and then hormones drive differentiation of males from females. The problem seems to be that endocrine disrupting chemicals mimic hormones and confuse this process.

Note: Glyphosate, the main ingredient in Monsanto's RoundUp, is the most heavily used agricultural chemical in human history. Even at extremely low levels, glyphosate is a known endocrine disruptor. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.

According to new research from the University of Southern California and Indiana University, up to 15 percent of Twitter accounts are in fact bots rather than people. Researchers at USC used more than one thousand features to identify bot accounts on Twitter, in categories including friends, tweet content and sentiment, and time between tweets. Using that framework, researchers wrote that "our estimates suggest that between 9% and 15% of active Twitter accounts are bots." Since Twitter currently has 319 million monthly active users, that translates to nearly 48 million bot accounts, using USC's high-end estimate. The report goes on to say that complex bots could have shown up as humans in their model, "making even the 15% figure a conservative estimate." At 15 percent, the evaluation is far greater than Twitter's own estimates. In a filing with the SEC last month, Twitter said that up to 8.5 percent of all active accounts contacted Twitter's servers "…without any discernable additional user-initiated action." USC's researchers ... highlight the benefits of some bots, writing, "many social bots perform useful functions, such as dissemination of news and publications…" But the USC report also points to the downside of bots, saying, "there is a growing record of malicious applications of social bots. Some emulate human behavior to manufacture fake grassroots political support [and] promote terrorist propaganda and recruitment."

Note: The use of social media to manipulate public perception has reportedly influenced recent elections in Latin America, the UK, and the US. For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.

When Angus Crawford, a journalist at the British Broadcasting Corporation, started reporting on sexualized images of children on Facebook, he knew he had to proceed with caution. Mr. Crawford ... began investigating the presence of obscene images of children on Facebook last year, [and] found that pedophiles were using secret pages to share images of children. A subsequent police investigation led to one man being imprisoned. This year, [Mr. Crawford] followed up and found that there were still images on the website that appeared to break Facebook guidelines, which state that the social media company will remove any content that promotes sexual violence or exploitation. Mr. Crawford reported the images using Facebook’s internal system, but the company took down only 18 of the 100 that he flagged. He then contacted the social network directly ... and was asked to provide examples of images that he had reported. When he provided examples ... the company reported Mr. Crawford and the BBC to the police. The company filed its report with the Child Exploitation and Online Protection Center. Facebook has said it is improving its system for reporting offensive content, but the incident has raised questions about exactly how it polices its site. Mr. Crawford ... noted an apparent contradiction between the view of Facebook’s moderation system, which determined that the photos were not in breach of the social network’s guidelines, and the company’s decision to report the BBC to the police.

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

The idea that pesticides are necessary to feed the world’s fast-growing population is “inaccurate and misleading”, a UN report has warned. The document, which is expected to be presented to the UN Human Rights Council this week, strongly denounced the “aggressive promotion” of pesticides by the industry as experts found the chemicals had “catastrophic impacts on the environment, human health and society as a whole”. [These impacts] have been exacerbated by corporations’ “systematic denial”, “aggressive, unethical marketing tactics” and by having “obstructed reforms and paralysed global pesticide restrictions globally”. Lobbyists have often defended pesticides as being necessary to increase yields as the world is facing threats of climate change impact. But the report debunks this idea. “The assertion promoted by the agrochemical industry that pesticides are necessary to achieve food security is not only inaccurate, but dangerously misleading. In principle, there is adequate food to feed the world; inequitable production and distribution systems present major blockages that prevent those in need from accessing it.” The report notes that while pesticides have “not succeeded in eliminating worldwide hunger”, studies indicate that food can contain “a cocktail of pesticides”. Washing has no effect on modern pesticides.

Note: Pesticide giant Monsanto was recently banned from the European parliament after shunning important hearings with regulators. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and health.

In a debate that has gone from office corridors to Britain's Parliament, lawmakers put their foot down Monday and told employers to stop making women wear high heels as part of corporate dress codes. Members of Parliament debated a ban on mandatory workplace high heels in response to a petition started by a receptionist who was sent home without pay for wearing flat shoes. The debate was nonbinding, but the government promised to act against heel-height rules, makeup guidelines and other corporate codes that apply to women but not to men. Labour lawmaker Helen Jones, who helped lead a parliamentary investigation into dress codes, said she and her colleagues were shocked by what they found. "We found attitudes that belonged more - I was going to say in the 1950s, but probably the 1850s would be more accurate, than in the 21st century," she told lawmakers at Parliament's Westminster Hall. The British government says the law already forbids companies from discriminating against women, but a report from Parliament's Women and Equalities Committee found that "discriminatory dress codes" remain commonplace in sectors including the retail and tourism industries. The committee said it had heard from hundreds of women "who told us about the pain and long-term damage caused by wearing high heels for long periods in the workplace, as well as from women who had been required to dye their hair blonde, to wear revealing outfits and to constantly reapply makeup."

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

The unthinkable is happening at facilities throughout the country: Vulnerable seniors are being raped and sexually abused by the very people paid to care for them. It's impossible to know just how many victims are out there. But through an exclusive analysis of state and federal data and interviews with experts, regulators and the families of victims, CNN has found that this little-discussed issue is more widespread than anyone would imagine. In cases reviewed by CNN, victims and their families were failed at every stage. Nursing homes were slow to investigate and report allegations because of a reluctance to believe the accusations - or a desire to hide them. Police viewed the claims as unlikely at the outset, dismissing potential victims because of failing memories or jumbled allegations. State regulators failed to flag patterns of repeated allegations against a single caregiver. It's these systemic failures that make it especially hard for victims to get justice - and even easier for perpetrators to get away with their crimes. Using inspection reports filed between 2013 and 2016 [a CNN analysis] found that the federal government has cited more than 1,000 nursing homes for mishandling or failing to prevent alleged cases of rape, sexual assault and sexual abuse at their facilities during this period. And nearly 100 of these facilities have been cited multiple times during the same period. These numbers likely represent only a fraction of the alleged sexual abuse incidents in nursing homes nationwide.

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

I Googled “mainstream media is…” And there it was. Google’s autocomplete suggestions: “mainstream media is… dead, dying, fake news, fake, finished”. Google’s first suggested link ... leads to a website called CNSnews.com and an article: “The Mainstream media are dead.” How had it, an obscure site I’d never heard of, dominated Google’s search algorithm on the topic? In the “About us” tab, I learn CNSnews is owned by the Media Research Center. It receives a large bulk of its funding – more than $10m in the past decade – from a single source, the hedge fund billionaire Robert Mercer. Robert Mercer is the money behind an awful lot of things. He was Trump’s single biggest donor. Since 2010, Mercer has donated $45m to different political campaigns – all Republican – and another $50m to non-profits – all rightwing, ultra-conservative. This is a billionaire who is ... trying to reshape the world according to his personal beliefs. He is reported to have a $10m stake in the [Cambridge Analytica], which was spun out of a bigger British company called SCL Group. It specialises in “election management strategies” and “messaging and information operations”, refined over 25 years. In military circles this is known as “psyops” – psychological operations. Cambridge Analytica makes the astonishing boast that it has psychological profiles based on 5,000 separate pieces of data on 220 million American voters. With this, a computer ... can predict and potentially control human behaviour. It’s incredibly dangerous.

Note: The above article provides a detailed look at how mass media is being combined with Big Data to produce powerful new forms of mind control.

Between 1984 and 2010, the amount of built-up areas in China increased nearly fivefold. To construct these new urban zones, China used more concrete in the three years between 2011 and 2013 than the whole of the United States used in the 20th Century. Yet even in the world’s second largest economy, the rate of development has overtaken demand. The shift from industries like steel production to electronics, telecommunications and biotechnology has happened very quickly. Europe and the United States underwent a similar shift over the course of several decades. China’s high-tech revolution took just a few years. [Some] factories that have been unable to survive these changes lie empty. This shifting industrial landscape has also left its mark on the cities built for the migrant workers. Large urban areas have become “ghost cities” [as] developers have gone bankrupt, leaving housing developments empty. A study by Chinese search giant Baidu identified 50 huge regions across the country where newly built residential housing was largely uninhabited. Photographer Kai Caemmerer has been documenting some of the empty cities in China for the past two years. He does not think the label “ghost town” is accurate. These places are built in anticipation of a need. In fact, an enormous relocation could soon be underway. The Chinese government has said it intends to move 100 million people from rural parts of the country into cities by 2020.

Note: The article above features many pictures of China's unique manufactured landscapes. For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the corporate world.

A doll called My Friend Cayla listens a little too well, according to German regulators who say the toy is essentially a stealthy espionage device that shares what it hears and is also vulnerable to takeover by third parties. "Cayla ist verboten in Deutschland," says Jochen Homann, the president of Germany's Federal Network Agency (the Bundessnetzagentur), announcing a ban on the doll in Germany on Friday. His agency oversees electronic privacy as part of its telecommunications mandate. Cayla looks like an everyday doll and gives no notice that it collects and transmits everything it hears - in this case, to [Nuance], a voice-recognition company in the U.S. whose other customers include intelligence agencies. The My Friend Cayla doll remains for sale in the U.S., including via Amazon. Much of what the German agency says echoes the concerns of privacy and consumer advocates in the U.S., who filed a complaint against Cayla during the recent Christmas shopping season. They criticized the scope of what the Internet-connected toy captures, as well as the vulnerabilities it poses for users who link the doll with their smartphones. Consumer groups have also criticized the doll for its habit of praising commercial products, in what's often seen as a stealth marketing campaign that targets children. "For example, Cayla will happily talk about how much she loves different Disney movies," Norway's Consumer Council says. "Meanwhile, the app-provider has a commercial relationship with Disney."

Note: The use of artificial intelligence in a new Barbie doll generated controversy in 2015, while a New York Times article from that same year called "smart objects" a "train wreck in privacy and security". For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the disappearance of privacy.

The latest poster child for cruel and inhuman drug pricing is Kaleo Pharma, maker of an emergency injector for a med called naloxone, which is used as an antidote to save the lives of people who overdose on painkillers. As America’s opioid crisis reaches epidemic levels, Kaleo has jacked up the list price for its Evzio auto-injector by 600%, soaring from $690 several years ago to $4,500, according to lawmakers. Nearly three dozen senators wrote to Kaleo’s chief executive, Spencer Williamson, last week to say they were “deeply concerned” about the price hike and to note that it “threatens to price out families and communities that depend on naloxone to save lives." But that’s not what caught my attention. Rather, I was struck by the company’s answers to me about lawmakers’ concerns. In response to emailed questions, Williamson said that although the list price for Evzio is more than $4,000, that’s “not a true net price to anyone … due to numerous discounts and rebates that are negotiated in the supply chain that make up our healthcare system.” In other words, even though the price tag for his company’s easy-to-use, lifesaving device is ridiculous and indefensible, there’s no need to worry because backroom deals by assorted players in the healthcare food chain make that price tag meaningless. And that, in a nutshell, illustrates the lunacy of the U.S. healthcare system.

Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption and income inequality.

States across the U.S. have been introducing legislation that would punish people for switching to electric vehicles. Since the start of 2017, six states (Indiana, South Carolina, Kansas, Tennessee, New Hampshire, and Montana) have introduced legislation that would require EV owners to pay a fee of up to $180 a year. Sadly, this isn’t the first time people have been penalized for driving green. Wyoming, Colorado, Virginia, Nebraska, Missouri, Washington, North Carolina, Idaho, Georgia, and Michigan have all implemented yearly fees on electric and hybrid vehicles that vary from $50 to $300 per driver per year. Arizona’s and Arkansas’ respective Department of Transportations are also suggesting legislators cast a fee for EV ownership. Georgia, formerly the state with the second most EV sales, used to offer a tax credit of up to $5,000, but replaced the program with a $200 yearly fee that led to an 80 percent drop in EV sales. This attack is coming at a time when EVs are just starting to take off within the larger auto industry. Reportedly, for more than a year, Koch Industries has spent nearly $10 million dollars, and plans to do so every year, on a campaign to boost petroleum-based transportation fuels and attack government support for electric vehicles. When oil tycoons consider a rise in EV drivers to be a threat to their wallets, you know EVs are taking off.

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

Spain’s National Court is summoning the former heads of Spain’s central bank and the stock market watchdog to be questioned for failing to stop the disastrous flotation of a savings bank that had to be bailed out. Eight officials, including former Bank of Spain governor Miguel Angel Fernandez Ordonez and Julio Seguro, the former president of market regulator CNMV, allegedly failed to stop Bankia’s listing in 2011 despite “repeated warnings” the bank was “unviable,” according to an investigation led by the court’s magistrates. Created by merging the assets of seven struggling Spanish banks, Bankia offered shares in an initial public offering in July 2011 and initially reported a profit for the year of 309 million euro ($327 million.) Months later, it amended its statements to show a 3 billion euro loss. The lender was nationalized in 2012 after a rescue that cost Spanish taxpayers around 22 billion euros ($23 billion). Former International Monetary Fund chief Rodrigo Rato stepped down as chairman of Bankia at the time of the IPO. Rato since has been investigated in separate, but related cases of alleged corruption. Internal central bank reports made clear the savings bank’s “severe and growing problems of profitability, liquidity and solvency,” a court order issued Monday stated.

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

The oil giant Shell issued a stark warning of the catastrophic risks of climate change more than a quarter of century ago in a prescient 1991 film that has been rediscovered. Shells 28-minute film, called Climate of Concern ... warned of extreme weather, floods, famines and climate refugees as fossil fuel burning warmed the world. A separate 1986 report, marked confidential and also seen by the Guardian, notes: The changes may be the greatest in recorded history. The predictions in the 1991 film for temperature and sea level rises and their impacts were remarkably accurate. Shell was one of the first major oil companies to accept the reality and dangers of climate change. But, despite this early and clear-eyed view of the risks of global warming, Shell invested many billions of dollars in highly polluting tar sand operations and on exploration in the Arctic. It also cited fracking as a future opportunity in 2016, despite its own 1998 data showing exploitation of unconventional oil and gas was incompatible with climate goals. Shell ... is estimated to have spent $22m in 2015 lobbying against climate policies, [and] has also been a member of industry lobby groups that have fought climate action. Another oil giant, Exxon Mobil, is under investigation ... for allegedly misleading investors about the risks climate change posed to its business. In early 2016, a group of congressmen asked the Department of Justice to also investigate whether Shells actions around climate change violated federal law.

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

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.