Corporate Corruption News Articles

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Carbon credit speculators could lose billions as scientific evidence shows many offsets they have bought have no environmental worth and have become stranded assets. Amid growing evidence that huge numbers of carbon credits do nothing to mitigate global heating and can sometimes be linked to alleged human rights concerns, there is a growing pile of carbon credits ... that are unused in the unregulated voluntary market, according to market analysis. Many of the largest companies in the world have used carbon credits for their sustainability efforts from the unregulated voluntary market, which grew to $2bn (Ł1.6bn) in size in 2021 and saw prices for many carbon credits rise above $20 per offset. The credits are often generated on the basis they are contributing to climate change mitigation such as stopping tropical deforestation, tree planting and creating renewable energy projects. A new study in the journal Science has found that millions of forest carbon credits approved by Verra, the world's leading certifier, are largely worthless and could make global heating worse if used for offsetting. The analysis ... found that 18 big forest offsetting projects had produced millions of carbon credits based on calculations that greatly inflated their conservation impact. The schemes, which generate credits by avoiding hypothetical deforestation, were found not to reduce forest loss or to reduce it by only small amounts, far less than the huge areas they were claiming to protect, rendering the credits largely hot air.

Note: For more along these lines, see concise summaries of deeply revealing news articles on financial industry corruption and climate change from reliable major media sources.

On at least four occasions since 2019, Elon Musk has predicted that his medical device company, Neuralink, would soon start human trials of a revolutionary brain implant to treat intractable conditions such as paralysis and blindness. Yet the company, founded in 2016, didn't seek permission from the U.S. Food and Drug Administration (FDA) until early 2022 – and the agency rejected the application. Musk has detailed a bold vision for Neuralink: Both disabled and healthy people will pop into neighborhood facilities for speedy surgical insertions of devices with functions ranging from curing obesity, autism, depression or schizophrenia to web-surfing and telepathy. Musk also has said Neuralink would restore full mobility to paralyzed patients. Reuters exclusively reported late last year that the federal government was investigating the company's treatment of its research animals. The probe was launched amid growing employee concern that the company is rushing experiments, causing additional suffering and deaths of pigs, sheep and monkeys. Musk's company ... trails at least one direct rival in the race for FDA approval. Synchron, a competitor making a BCI implant, has won the agency's blessing for human trials. The company first tested its device on four patients in Australia who successfully sent text messages with their minds. Synchron recently raised $75 million, including from funds backed by tech billionaires Bill Gates and Jeff Bezos.

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

The world is spending at least $1.8tn (Ł1.3tn) every year on subsidies driving the annihilation of wildlife and a rise in global heating, according to a new study, prompting warnings that humanity is financing its own extinction. From tax breaks for beef production in the Amazon to financial support for unsustainable groundwater pumping in the Middle East, billions of pounds of government spending and other subsidies are harming the environment, says the first cross-sector assessment for more than a decade. This government support, equivalent to 2% of global GDP, is directly working against the goals of the Paris agreement and draft targets on reversing biodiversity loss, the research on explicit subsidies found, effectively financing water pollution, land subsidence and deforestation with state money. The fossil fuel industry ($620bn), the agricultural sector ($520bn), water ($320bn) and forestry ($155bn) account for the majority of the $1.8tn, according to the report. No estimate for mining, believed to cause billions of dollars of damage to ecosystems every year, could be derived. Lack of transparency between governments and recipients means the true figure is likely to be much higher, as is the implicit cost of harmful subsidies. Last year, an International Monetary Fund report found the fossil fuel industry benefited from subsidies worth $5.9tn in 2020.

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

Members of the Sackler family who are at the center of the nation's deadly opioid crisis have won sweeping immunity from opioid lawsuits linked to their privately owned company Purdue Pharma and its OxyContin medication. Federal Judge Robert Drain approved a bankruptcy settlement on Wednesday that grants the Sacklers "global peace" from any liability for the opioid epidemic. "This is a bitter result," Drain said. "I believe that at least some of the Sackler parties have liability for those [opioid OxyContin] claims. ... I would have expected a higher settlement." The complex bankruptcy plan ... grants "releases" from liability for harm caused by OxyContin and other opioids to the Sacklers, hundreds of their associates, as well as their remaining empire of companies and trusts. In return, they have agreed to pay roughly $4.3 billion, while also forfeiting ownership of Purdue Pharma. The Sacklers, who admit no wrongdoing and who by their own reckoning earned more than $10 billion from opioid sales, will remain one of the wealthiest families in the world. Critics of this bankruptcy settlement, meanwhile, said they would challenge Drain's confirmation because of the liability releases for the Sacklers. "This order is insulting to victims of the opioid epidemic who had no voice in these proceedings," said Washington state Attorney General Bob Ferguson. The Department of Justice urged Drain to reject the settlement. Attorneys general for nine states and the District of Columbia also opposed the plan.

Note: Purdue Pharma spent $1.2 million on lobbying just before making this deal. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.

40 years ago, a worn-out white Gulfstream II jet descended over Fort Lauderdale, Fla., carrying a regal but sickly passenger almost no one was expecting. Aboard were a Republican political operative, a retinue of Iranian military officers ... and Mohammed Reza Pahlavi, the newly deposed shah of Iran. The only one waiting to receive the deposed monarch was a senior executive of Chase Manhattan Bank, which had not only lobbied the White House to admit the former shah but had arranged visas for his entourage. Less than two weeks later, on Nov. 4, 1979, vowing revenge for the admission of the shah to the United States, revolutionary Iranian students seized the American Embassy in Tehran and then held more than 50 Americans — and Washington — hostage for 444 days. The shah, Washington’s closest ally in the Persian Gulf, had fled Tehran in January 1979. The shah sought refuge in America. But President Jimmy Carter ... refused him entry for the first 10 months of his exile. Chase Manhattan Bank and its well-connected chairman worked behind the scenes to persuade the Carter administration to admit the shah, one of the bank’s most profitable clients. For Mr. Carter, for the United States and for the Middle East it was an incendiary decision. The ensuing hostage crisis enabled Ayatollah Ruhollah Khomeini to consolidate his theocratic rule, started a four-decade conflict between Washington and Tehran ... and helped Ronald Reagan take the White House.

Note: More information is available in this 1991 New York Times article and this article. For more along these lines, see concise summaries of deeply revealing news articles on government corruption from reliable major media sources.

When women speak, they shouldn’t be shrill. Clothing must flatter, but short skirts are a no-no. After all, “sexuality scrambles the mind.” Women should look healthy and fit, with a “good haircut” and “manicured nails.” These were just a few pieces of advice that around 30 female executives at Ernst & Young received at a training held in the accounting giant’s gleaming new office in Hoboken, New Jersey, in June 2018. The 55-page presentation, used during the day-and-a-half seminar on leadership and empowerment, was given to HuffPost by an attendee who was appalled by its contents. Full of out-of-touch advice, the presentation focused on how women need to fix themselves to fit into a male-dominated workplace. The training, called Power-Presence-Purpose or PPP ... was billed to participants as advice on how to be successful at EY, according to Jane, a training attendee and former executive director at the firm. Attendees were even told that women’s brains are 6% to 11% smaller than men’s, Jane said. She wasn’t sure why they were told this, nor is it clear from the presentation. Women’s brains absorb information like pancakes soak up syrup so it’s hard for them to focus, the attendees were told. Men’s brains are more like waffles. They’re better able to focus because the information collects in each little waffle square. The only reason to talk to women about their size of their brains is to make them feel inferior to men, said Bruce McEwen, a neuroscientist at Rockefeller University.

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

About a half a dozen journalists were in a northern California courtroom to cover a third lawsuit alleging that Monsanto’s pesticide glyphosate causes cancer. [Sylvie] Barak told others that she was a freelancer for the BBC. When journalists searched the internet for Barak, they noticed that her LinkedIn account said she worked for FTI Consulting, a global business advisory firm that Monsanto and Bayer, Monsanto’s parent company, had engaged for consulting. Monsanto has also previously employed shadowy networks of consultants, PR firms, and front groups to spy on and influence reporters. And all of it appears to be part of a pattern at the company of using a variety of tactics to intimidate, mislead and discredit journalists and critics. In the latest example of Monsanto’s efforts to track journalists, The Guardian reported in August on internal documents from the company’s “fusion center,” which worked to discredit reporters and nonprofits via third-party actors. In the California trial, the reporter who first identified Barak as an FTI plant said she ... saw an uptick in Monsanto’s industry partners contacting her as she covered the trial. A guy named Jay Byrne ... contacted her on social media to discuss how GMO criticism was part of a Russian influence campaign; when she Googled Byrne, she learned he is Monsanto’s former director of communications. In a January deposition, a Monsanto representative said that in 2016 the company spent “around $16 or 17 million” on activities to defend glyphosate.

Note: Major lawsuits are now unfolding 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 corporate corruption from reliable major media sources.

In 2015, Maryland’s main election system vendor was bought by a parent company with ties to a Russian oligarch. The state’s election officials did not know about the purchase until July 2018, when the FBI notified them of the potential conflict. The FBI investigated and did not find any evidence of tampering or sharing of voter data. But the incident was a giant red flag ... especially as many states have outsourced vote-counting to the private sector. Democracy in the United States is now largely a secretive and privately-run affair conducted out of the public eye with little oversight. The corporations that run every aspect of American elections, from voter registration to casting and counting votes by machine, are subject to limited state and federal regulation. The companies are privately-owned and closely held, making information about ownership and financial stability difficult to obtain. The software source code and hardware design of their systems are kept as trade secrets. A small network of companies ... have near-monopolies on election services, such as building voting machines. Across the spectrum, private vendors have long histories of errors that affected elections, of obstructing politicians and the public from seeking information, of corruption, suspect foreign influence, false statements of security and business dishonesty. The computer security world has been sounding the alarm since voting machines were adopted. Now lawmakers, election officials and national security experts are joining in.

Note: Computer scientists have shown nearly every make and model of electronic voting machine to be vulnerable to hacking. For more along these lines, see concise summaries of deeply revealing elections corruption news articles from reliable major media sources.

During a nine month investigation, the BBC has uncovered the disturbing truth about the way authorities in New York City are conducting the fight against Aids. HIV positive children - some only a few months old - are enrolled in toxic experiments without the consent of guardians or relatives. In some cases where parents have refused to give children their medication, they have been placed in care. The city's Administration of Children's Services (ACS) does not even require a court order to place HIV kids with foster parents or in children's homes, where they can continue to give them experimental drugs. In 2002, the Incarnation Children's Center - a children's home in Harlem - was at the hub of controversy over secretive drugs trials. [Reporter Jamie Doran] speaks to a boy who spent most of his life at Incaranation. Medical records, obtained by the This World team, prove the boy had been enrolled in these trials. "I did not want to take my medication," said the boy, "but if you want to get out of there, you have to do what they say." He also conveys a horrifying account of what happened to the children at Incarnation who refused to obey the rules. "My friend Daniel didn't like to take his medicine and he got a tube in his stomach," he said. For months, the BBC tried to get information from the people responsible for the trials, but none would comment. The companies that supply drugs for the trials are among the world's largest, including Britain's own Glaxo SmithKline (GSK).

Note: Read a long list of examples of humans being treated as guinea pigs by corporate and governmental programs. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in Big Pharma from reliable major media sources.

Meta CEO Mark Zuckerberg announced Tuesday that his social media platforms – which include Facebook and Instagram – will be getting rid of fact-checking partners and replacing them with a "community notes" model like that found on X. For a decade now, liberals have wrongly treated Trump's rise as a problem of disinformation gone wild, and one that could be fixed with just enough fact-checking. Disinformation, though, has been a convenient narrative for a Democratic establishment unwilling to reckon with its own role in upholding anti-immigrant narratives, or repeating baseless fearmongering over crime rates, and failing to support the multiracial working class. Long dead is the idea that social media platforms like X or Instagram are either trustworthy news publishers, sites for liberatory community building, or hubs for digital democracy. "The internet may once have been understood as a commons of information, but that was long ago," wrote media theorist Rob Horning in a recent newsletter. "Now the main purpose of the internet is to place its users under surveillance, to make it so that no one does anything without generating data, and to assure that paywalls, rental fees, and other sorts of rents can be extracted for information that may have once seemed free but perhaps never wanted to be." Social media platforms are huge corporations for which we, as users, produce data to be mined as a commodity to sell to advertisers – and government agencies. The CEOs of these corporations are craven and power-hungry.

Note: Read a former senior NPR editor's nuanced take on how challenging official narratives became so politicized that "politics were blotting out the curiosity and independence that should have been guiding our work." Opportunities for award winning journalism were lost on controversial issues like COVID, the Hunter Biden laptop story, and more. For more along these lines, read our concise summaries of news articles on censorship and Big Tech.

When Bank of America alerted financial regulators in 2020 to potentially suspicious payments from Leon Black, the billionaire investor, to Jeffrey Epstein, the disgraced financier, the bank was following a routine practice. The bank filed two "suspicious activity reports," or SARs, which are meant to alert law enforcement to potential criminal activities like money laundering, terrorism financing or sex trafficking. One was filed in February 2020 and the other eight months later, according to a congressional memorandum. SARs are expected to be filed within 60 days of a bank spotting a questionable transaction. But the warnings in this case ... were not filed until several years after the payments, totaling $170 million, had been made. By the time of the first filing, Mr. Epstein had already been dead for six months. The delayed filings have led congressional investigators to question if Bank of America violated federal laws against money laundering. Bank of America is not the only big bank to have been questioned about suspicious transactions involving Mr. Epstein. In litigation involving hundreds of Mr. Epstein's sexual abuse victims, it was disclosed that JPMorgan Chase had filed several SARs after the bank kicked him out as a client in 2013. Deutsche Bank, which subsequently became Mr. Epstein's primary banker, paid a $150 million fine to New York bank regulators, in part because of its due diligence failures in monitoring Mr. Epstein's financial affairs.

Note: Read about the connection between Epstein's child sex trafficking ring and intelligence agency sexual blackmail operations. For more along these lines, read our concise summaries of news articles on financial industry corruption and Jeffrey Epstein's trafficking and blackmail ring.

When Megan Rothbauer suffered a heart attack at work in Wisconsin, she was rushed to hospital in an ambulance. The nearest hospital was "not in network", which left Ms Rothbauer with a $52,531.92 bill for her care. Had the ambulance driven a further three blocks to Meriter Hospital in Madison, the bill would have been a more modest $1,500. The incident laid bare the expensive complexity of the American healthcare system with patients finding that they are uncovered, despite paying hefty premiums, because of their policy's small print. In many cases the grounds for refusal hinge on whether the insurer accepts that the treatment is necessary and that decision is increasingly being made by artificial intelligence rather than a physician. It is leading to coverage being denied on an industrial scale. Much of the work is outsourced, with the biggest operator being EviCore, which ... uses AI to review – and in many cases turn down – doctors' requests for prior authorisation, guaranteeing to pay for treatment. The controversy over coverage denials was brought into sharp focus by the gunning down of UnitedHealthcare's chief executive Brian Thompson in Manhattan. The [words written on the] casings [of] the ammunition – "deny", "defend" and "depose" – are thought to refer to the tactics the insurance industry is accused of using to avoid paying out. UnitedHealthcare rejected one in three claims last year, about twice the industry average.

Note: For more along these lines, read our concise summaries of news articles on AI and corporate corruption.

Last week, I was on the path to publishing a piece in a major legacy media outlet–a name all of you would instantly recognize–about Trump's bold appointment of RFK Jr. as head of the Department of Health and Human Services (HHS). For weeks, I had been in discussions with an editor about publishing this article, which argued that Trump appears to be genuinely signalling toward transformative health policy reform. After submitting the piece late Tuesday night to meet a Wednesday deadline, I received a surprising email from my editor the following morning: "Appears we don't approve." She linked to a new editorial board piece labeling RFK Jr. a "fringe conspiracy theorist" likely to harm public health. Her follow-up message read, "We have come out aggressively against Kennedy." Just like that, my piece was axed. My commitment to honest reporting and ideological independence opened many doors. Until it didn't. I discovered that hot-button topics I tackled like identity politics and police brutality were actually far less contentious than the third rail of Big Pharma and government health policies. Wokism is a far less pernicious, gargantuan force in American politics and media than Pfizer, Merck, and Moderna. By 2021, as the pandemic and vaccine mandates became politically charged, my pitches began to hit a wall. Outlets that once published polarizing takes now resisted anything questioning mainstream pandemic narratives.

Note: This article was written by independent journalist Rav Arora. For more along these lines, read our concise summaries of news articles on censorship and media manipulation.

A federal jury held a defense contractor legally responsible for contributing to the abuse of detainees at Abu Ghraib for the first time. The jury awarded a total of $42 million to three Iraqi men – a journalist, a middle school principal, and fruit vendor – who were held at the notorious prison two decades ago. The plaintiffs' suit accused Virginia-based CACI, which was hired by the U.S. government to provide interrogation services at Abu Ghraib, of conspiring with American soldiers to torture detainees. CACI had argued that while abuses did occur at Abu Ghraib, it was ultimately the Army who was responsible for this conduct, even if CACI employees may have been involved. The defense contractor also argued there was no definitive evidence that their staff abused the three Iraqi men who filed the case – and that it could have been American soldiers who tortured them. The jury did not find that argument persuasive. The case was filed 16 years ago but got caught up in procedural hurdles, as CACI tried more than 20 times to dismiss the lawsuit. The plaintiffs – Suhail Najim Abdullah Al Shimari, Salah Hasan Nusaif Al-Ejaili, and Asa'ad Hamza Hanfoosh Zuba'e – had testified about facing sexual abuse and harassment, as well as being beaten and threatened with dogs at Abu Ghraib. "My body was like a machine, responding to all external orders," [said] Al-Ejaili, a former journalist with Al Jazeera. "The only part I owned was my brain."

Note: Read more about the horrors of Abu Ghraib. Learn more about US torture programs in our comprehensive Military-Intelligence Corruption Information Center. For more, see concise summaries of deeply revealing news articles on military corruption from reliable major media sources.

Pfizer Inc. failed to warn patients that its injectable contraceptive drug Depo-Provera can increase the risk of developing brain tumors, a new lawsuit alleged. "For several decades the manufacturers and sellers of Depo-Provera and its authorized generic and generic analogues" had a responsibility to investigate whether the medication could contribute to the growth of brain tumors, according to the complaint filed Monday in the US District Court for the Central District of California. Plaintiff Taylor Devorak alleged that researchers have found Depo-Provera and similar progesterone medications have been linked to a greater incidence of brain tumors called intracranial meningioma. She's seeking damages on her failure-to-warn, defective design, negligence, misrepresentation, and breach of warranty claims against the pharmaceutical giant. Devorak's complaint comes in the wake of a handful of substantially similar lawsuits filed in other federal courts in California and Indiana in recent weeks. The American label for Depo-Provera "still makes no mention of the increased risk to patients of developing intracranial meningiomas," even though the EU and UK now list meningioma under the medication's warning section, Devorak's complaint said. Devorak cited a 2024 study published in the British Medical Journal that said prolonged use of medroxyprogesterone acetate medications like Depo-Provera were found to significantly increase the risk of developing intracranial meningioma.

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

Air fryers that gather your personal data and audio speakers "stuffed with trackers" are among examples of smart devices engaged in "excessive" surveillance, according to the consumer group Which? The organisation tested three air fryers ... each of which requested permission to record audio on the user's phone through a connected app. Which? found the app provided by the company Xiaomi connected to trackers for Facebook and a TikTok ad network. The Xiaomi fryer and another by Aigostar sent people's personal data to servers in China. Its tests also examined smartwatches that it said required "risky" phone permissions – in other words giving invasive access to the consumer's phone through location tracking, audio recording and accessing stored files. Which? found digital speakers that were preloaded with trackers for Facebook, Google and a digital marketing company called Urbanairship. The Information Commissioner's Office (ICO) said the latest consumer tests "show that many products not only fail to meet our expectations for data protection but also consumer expectations". A growing number of devices in homes are connected to the internet, including camera-enabled doorbells and smart TVs. Last Black Friday, the ICO encouraged consumers to check if smart products they planned to buy had a physical switch to prevent the gathering of voice data.

Note: A 2015 New York Times article warned that smart devices were a "train wreck in privacy and security." For more along these lines, read about how automakers collect intimate information that includes biometric data, genetic information, health diagnosis data, and even information on people's "sexual activities" when drivers pair their smartphones to their vehicles.

There is only one group of people that matter the most: those who Dr. Peter Phillips, professor emeritus at Sonoma State University, calls the "titans of capital." In his new book by the same name, Phillips studies the economic trends following the COVID-19 pandemic and how the wealth concentration in the world took a dramatic turn towards the already ultra-wealthy. The main problem is simple to understand: the ultra-wealthy "doubled their wealth concentration." That means, according to Phillips, that "the upper one half of 1% of the people got richer and basically, the rest of the world got poorer." Phillips names the top 10 capital investment companies, such as BlackRock, Vanguard, State Street, Morgan Stanley and others as the main culprits. Over $50 trillion are controlled by 117 people across these 10 companies, according to Phillips. This immense concentration of wealth inevitably renders any semblance of democracy almost useless, as the main decision makers are those who hold the biggest bag. And then there's policy groups. The largest now is the World Economic Forum, which is the top 2,000 to 3,000 corporations in the world send their CEOs there, to Davos every year. And there's a global leaders attend, and they're talking about a better capitalism, a state, what they call stakeholders capitalism, in other words, capitalism with a conscience. It's not working. They're not doing anything different, other than allowing the continued concentration of capital globally.

Note: Read more about how the ultra-wealthy profited immensely from the COVID economy. For more along these lines, explore concise summaries of news articles on corporate corruption and financial inequality from reliable major media sources.

The Air Force overpaid for soap dispensers used in the bathrooms of C-17 military aircraft by 7,943% – or more than 80 times the price of similar commercially available dispensers – according to a Defense Department inspector general report released Tuesday. The dispensers were one of about a dozen spare parts for which Boeing overcharged the Air Force, according to the report, resulting in nearly $1 million in additional and unnecessary costs. The costs of the soap dispenser from Boeing, the similar soap dispenser and the number of dispensers purchased by the Air Force were redacted in the report, but in total, the Air Force overpaid $149,072 for the soap dispensers. An anonymous tip about the dispensers launched the inspector general's audit into the spare parts. "The Air Force needs to establish and implement more effective internal controls to help prevent overpaying for spare parts for the remainder of this contract, which continues through 2031," Defense Department Inspector General Robert Storch said in a statement. Boeing has a contract with the Air Force that lets Boeing purchase needed spare parts for the C17, and the Air Force reimburses Boeing for the spare parts purchased, according to the report. "Significant overpayments for spare parts may reduce the number of spare parts that Boeing can purchase on the contract, potentially reducing C-17 readiness worldwide," Storch said.

Note: Learn more about unaccountable military spending in our comprehensive Military-Intelligence Corruption Information Center. For more along these lines, see concise summaries of deeply revealing news articles on military corruption from reliable major media sources.

An influential doctor and advocate of adolescent gender treatments said she had not published a long-awaited study of puberty-blocking drugs because of the charged American political environment. The doctor, Johanna Olson-Kennedy, began the study in 2015 as part of a broader, multimillion-dollar federal project on transgender youth. She and colleagues recruited 95 children from across the country and gave them puberty blockers, which stave off the permanent physical changes – like breasts or a deepening voice – that could exacerbate their gender distress, known as dysphoria. The researchers followed the children for two years to see if the treatments improved their mental health. An older Dutch study had found that puberty blockers improved well-being, results that inspired clinics around the world to regularly prescribe the medications as part of what is now called gender-affirming care. But the American trial did not find a similar trend. Puberty blockers did not lead to mental health improvements, she said. In the nine years since the study was funded ... and as medical care for this small group of adolescents became a searing issue in American politics, Dr. Olson-Kennedy's team has not published the data. Asked why, she said the findings might fuel the kind of political attacks that have led to bans of the youth gender treatments in more than 20 states, one of which will soon be considered by the Supreme Court. "I do not want our work to be weaponized," she said.

Note: We believe that everyone has a right to exist and express themselves the way they want. Yet we value the health of all beings and the importance of informed choice when it comes to any potentially life-changing medical procedure. For more along these lines, explore summaries of revealing news articles on transgender medicine from reliable major media sources.

The Institute for Policy Studies (IPS) joined Popular Democracy in compiling a 71-page report titled Billionaire Blowback on Housing. The two groups found that a small number of wealthy individuals and their investment arms, who control "huge pools of wealth," have spent some of their vast resources on "predatory investment and wealth-parking in luxury housing." Billionaires and their investment firms, such as Blackstone–now the world's largest corporate landlord–are "taking advantage of the tight low-income rental market, lack of publicly funded affordable housing, displacement after the foreclosure crisis, and inaccessible homeownership to get into the business of single-family and multifamily home rentals, and buying up mobile home parks," the report reads. Blackstone now owns 300,000 residential units across the U.S. and nearly doubled its portfolio in 2021. The housing crisis ... is characterized by record-breaking homelessness in 2023 with more than 653,000 people unhoused; half of tenants paying more than 30% of their income on rent ... and a significantly widened gap between the income needed to buy a house and the actual cost of a home. The number of vacant units in some communities exceed the number of unhoused people. For example, in 2017 there were more than 93,500 vacant units in Los Angeles and an estimated 36,000 unhoused residents, with vacancies treated as "a structural feature of the market thanks to the presence of a small class of wealthy investors who engage in speculative financial behavior."

Note: For more along these lines, see concise summaries of deeply revealing news articles on banking system corruption and financial inequality from reliable major media sources.

Important Note: Explore our full index to revealing excerpts of key 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.