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Corporate Corruption News Articles
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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 revealing excerpts of key major media news articles on dozens of engaging topics. And read excerpts from 20 of the most revealing news articles ever published.


Anthrax drug brings $334 million to Pentagon advisor's biotech firm
2013-05-19, Los Angeles Times
http://www.latimes.com/news/nationworld/nation/la-na-anthrax-resistant-201305...

Over the last decade, former Navy Secretary Richard J. Danzig, a prominent lawyer, presidential advisor and biowarfare consultant to the Pentagon and the Department of Homeland Security, has urged the government to counter what he called a major threat to national security. Terrorists, he warned, could easily engineer a devastating killer germ: a form of anthrax resistant to common antibiotics. U.S. intelligence agencies have never established that any nation or terrorist group has made such a weapon, and biodefense scientists say doing so would be very difficult. Nevertheless, Danzig has energetically promoted the threat and prodded the government to stockpile a new type of drug to defend against it. Danzig did this while serving as a director of a biotech startup that won $334 million in federal contracts to supply just such a drug, a Los Angeles Times investigation found. By his own account, Danzig encouraged Human Genome Sciences Inc. to develop the compound, and from 2001 through 2012 he collected more than $1 million in director's fees and other compensation from the company, records show. The drug, raxibacumab, or raxi, was the first product the company was able to sell, and the U.S. government remains the only customer, at a cost to date of about $5,100 per dose.

Note: This investigative report is well worth reading in its entirety at the above link. At this link you can find major media articles showing among other revealing facts how Donald Rumsfeld pocketed $5 million personally from sales of Tamiflu during the Avian flu scare. The word is getting out thanks to caring people like you.


New app lets shoppers boycott companies by scanning barcodes
2013-05-15, MSN
http://news.msn.com/science-technology/new-app-lets-shoppers-boycott-companie...

Do you know where your money really goes? A new app aims to help consumers avoid companies and products they don't even realize they're investing in. People can create campaigns or join existing boycotts. For example, a campaign identified in the app asks consumers to avoid Koch Industries. More than 8,000 people have pledged to boycott the company, which is owned by conservative billionaires Charles and David Koch. Buycott helps consumers do this by untangling a long trail of associations and relationships among companies. For example, sales of Brawny paper towels accrue to Koch Industries because Koch's subsidiary, Georgia-Pacific, produces the towels. Consumers may not be aware of those connections while casually browsing supermarket shelves. The Buycott app scans barcodes and then traces products to their parent companies. The app checks that the product doesn't already run afoul of boycott campaigns the user has joined. If someone joins the Local & Sustainable Food Initiative through Buycott, for example, they can scan barcodes at the supermarket to make sure their food really is coming from a local source. The app can even tell you if a certain food product contains GMOs. One campaign pushes buyers to boycott companies, including Monsanto, that fought against putting GMO labels on food. The app isn't perfect though. As Buycott admits, "Corporate ownership structure is always changing and can sometimes be complex." The app allows users to add their own knowledge of products not yet part of the database, making Buycott more accurate as more people download and contribute to it.

Note: For a treasure trove of great news articles which will inspire you to make a difference, click here.


BP and Shell raided in European commission price-rigging inquiry
2013-05-14, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/business/2013/may/14/bp-shell-oil-price-rigging

The London offices of BP and Shell have been raided by European regulators investigating allegations they have "colluded" to rig oil prices for more than a decade. The European commission said its officers carried out "unannounced inspections" at several oil companies in London, the Netherlands and Norway to investigate claims they may have "colluded in reporting distorted prices to a price reporting agency [PRA] to manipulate the published prices for a number of oil and biofuel products". The commission said the alleged price collusion, which may have been going on since 2002, could have had a "huge impact" on the price of petrol at the pumps "potentially harming final consumers". Lord Oakeshott, former Liberal Democrat Treasury spokesman, said the alleged rigging of oil prices was "as serious as rigging Libor" – which led to banks being fined hundreds of millions of pounds. He demanded to know why the UK authorities had not taken action earlier. "Why have we had to wait for Brussels to find out if British oil giants are ripping off British consumers?" he said. "The price of energy ripples right through our economy and really matters to every business and families." The European authorities declined to name any of the companies raided but BP, Shell, Norway's Statoil and Platts, the world's leading oil price reporting agency, all confirmed they are being investigated.

Note: For deeply revealing reports from reliable major media sources on corporate corruption, click here.


Monsanto and other GM firms are winning in the US – and globally
2013-05-14, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/commentisfree/2013/may/14/monsanto-gm-crops-worldwide

Food & Water Watch ... spent months looking at the extent to which the US State Department is working on behalf of the GM seed industry to make sure that biotech crops are served up abroad whether the world wants them or not. Between 2007 and 2009, annual cables were distributed to "encourage the use of agricultural biotechnology", directing US embassies to "pursue an active biotech agenda". There was a comprehensive communications campaign aimed to "promote understanding and acceptance of the technology" ... in light of the worldwide backlash against GM crops. The State Department worked to diminish trade barriers to the benefit of seed companies, and encouraged the embassies to "publicize the benefits of agbiotech as a development tool". Monsanto was a great beneficiary of the State Department's taxpayer-funded diplomacy: the company appeared in 6.1% of the biotech cables analyzed between 2005 and 2009 from 21 countries. The cables also show extensive lobbying against in-country efforts to require labeling of GM foods. The US government is now quietly negotiating major trade deals with Europe and the countries of the Pacific Rim that would force countries to accept biotech imports, commercialize biotech crops and prevent the labeling of GM foods. The vast influence that Monsanto and the biotech seed industry have on our foreign affairs is just one tentacle of a beast comprised by a handful of huge corporations who wield enormous power over most food policy in the United States.

Note: For deeply revealing reports from reliable major media sources on government corruption, click here.


An End to Medical-Billing Secrecy?
2013-05-08, Time Magazine
http://swampland.time.com/2013/05/08/an-end-to-medical-billing-secrecy/

Acting on the suggestion of her top data crunchers at the department’s Centers for Medicare and Medicaid Services (CMS), Health and Human Services Secretary Kathleen Sebelius released an enormous data file on May 8 that reveals the list—or “chargemaster”—prices of all hospitals across the country for the 100 most common inpatient treatment services in 2011. It then compares those prices with what Medicare actually paid hospitals for the same treatments—which was typically a fraction of the chargemaster prices. As a result, Americans are a big step closer to being able to compare what hospitals charge them for goods and services with what they actually cost. There are two reasons Sebelius’ release of this newly crunched, massive data file is a great first step toward a new transparency in health care costs. First, it reveals the vast disparity between what hospitals charge for pills, procedures and operations and the real cost of those services, as calculated by Medicare. The second reason the compilation and release of this data is a big deal is that it demonstrates [that] most hospitals’ chargemaster prices are wildly inconsistent and seem to have no rationale. Thus the release of this fire hose of data—which prints out at 17,511 pages—should become a tip sheet for reporters in every American city and town, who can now ask hospitals to explain their pricing. In the through-the-looking-glass world of health care economics, those who are asked to pay chargemaster rates are often under-insured or lack insurance altogether. Moreover, insurers typically negotiate discounts off the grossly inflated chargemaster prices ($77 for a box of gauze pads!), so the chargemaster matters for insured patients too.

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


7 Dodgy Food Practices Banned in Europe But Just Fine Here
2013-05-08, Mother Jones Magazine
http://www.motherjones.com/tom-philpott/2013/05/7-dodgy-foodag-practices-bann...

Last week, the European Commission voted to place a two-year moratorium on most uses of neonicotinoid pesticides, on the suspicion that they're contributing to the global crisis in honeybee health. Might [that] inspire the US Environmental Protection Agency to make a similar move? The answer is no. The EU move will have no bearing on the EPA's own reviews of the pesticides, which aren't scheduled for release until 2016 at the earliest. Other food-related substances and practices that are banned in Europe [are] green-lighted [in the US]. 1. Atrazine: A "potent endocrine disruptor," Syngenta's popular corn herbicide has been linked to a range of reproductive problems at extremely low doses in both amphibians and humans, and it commonly leaches out of farm fields and into people's drinking water. What Europe did: Banned it in 2003. US status: EPA: "Atrazine will begin registration review, EPA's periodic reevaluation program for existing pesticides, in mid-2013." 2. Arsenic in chicken, turkey, and pig feed. 3. "Poultry litter" in cow feed. 4. Chlorine washes for poultry carcasses. 5. Antibiotics as growth promoters on livestock farms. 6. Ractopomine and other pharmaceutical growth enhancers in animal feed. 7. Gestation crates.

Note: For each numbered substance or practice, this article indicates the action taken by the EU and the inaction by the US government. For an article that gives more information on all of this and two additional banned practices, click here.


CEO Pay 1,795-to-1 Multiple of Wages Skirts U.S. Law
2013-04-29, Bloomberg News
http://www.bloomberg.com/news/2013-04-30/ceo-pay-1-795-to-1-multiple-of-worke...

Former fashion jewelry saleswoman Rebecca Gonzales and former Chief Executive Officer Ron Johnson have one thing in common: J.C. Penney Co. no longer employs either. The similarity ends there. Johnson, 54, got a compensation package worth 1,795 times the average wage and benefits of a U.S. department store worker when he was hired in November 2011, according to data compiled by Bloomberg. Gonzales’s hourly wage was $8.30 that year. Across the [S&P] 500 Index of companies, the average multiple of CEO compensation to that of rank-and-file workers is 204, up 20 percent since 2009, the data show. Almost three years after Congress ordered public companies to reveal actual CEO-to-worker pay ratios under the Dodd-Frank law, the numbers remain unknown. As the Occupy Wall Street movement and 2012 election made income inequality a social flashpoint, mandatory disclosure of the ratios remained bottled up at the Securities and Exchange Commission, which hasn’t yet drawn up the rules to implement it. Some of America’s biggest companies are lobbying against the requirement. “It’s a simple piece of information stockholders ought to have,” said Phil Angelides, who led the Financial Crisis Inquiry Commission, which investigated the economic collapse of 2008. “The fact that corporate executives wouldn’t want to display the number speaks volumes.” The lobbying is part of “a street-by-street, block-by-block fight waged by large corporations and their Wall Street colleagues” to obstruct the Dodd-Frank law, he said.

Note: For deeply revealing reports from reliable major media sources on income inequality, click here .


Supreme Court sides with Monsanto in major patent case
2013-04-26, USA Today
http://www.usatoday.com/story/news/nation/2013/05/13/monsanto-patent-grain-bi...

The Supreme Court usually isn't friendly toward questionable patents, but it came down overwhelmingly on the side of agribusiness giant Monsanto [on April 22] in a case that's bound to resonate throughout the biotechnology industry. The court ruled unanimously that an Indiana farmer violated Monsanto's patent on genetically modified soybeans when he culled some from a grain elevator and used them to replant his own crop in future years. "If simple copying were a protected use, a patent would plummet in value after the first sale of the first item containing the invention," Justice Elena Kagan ruled in a short 10-page opinion. Who it helps: Inventors and entrepreneurs who have patents on products that can be self-replicated, from computer software to cell lines. Who it hurts: Consumers paying high prices. The Center for Food Safety released a report in February that showed three corporations control much of the global commercial seed market. It found that from 1995-2011, the average cost to plant 1 acre of soybeans rose 325%. Center for Food Safety executive director Andrew Kimbrell called the ruling a setback for farmers. "The court chose to protect Monsanto over farmers," he said. "The court's ruling is contrary to logic and to agronomics, because it improperly attributes seeds' reproduction to farmers, rather than nature."

Note: For deeply revealing reports from reliable major media sources on government corruption, click here.


Why this is the worst economic recovery on record
2013-04-15, Christian Science Monitor
http://www.csmonitor.com/Business/Robert-Reich/2013/0415/Why-this-is-the-wors...

We’re now witnessing what happens when all of the economic gains go to the top. Four years into a so-called recovery and we’re still below recession levels in every important respect except the stock market. A measly 88,000 jobs were created in March, and total employment remains some 3 million below its pre-recession level. Labor-force participation is it’s lowest since 1979. The underlying problem is the vast middle class is running out of money. They can’t borrow more — and shouldn’t, given what happened after the last borrowing binge. Real annual median household income keeps falling. It’s down to $45,018, from $51,144 in 2010. All the gains from the recovery continue to go to the top. Widening inequality is not inevitable. If we wanted to reverse it and restore middle-class prosperity, we could. We could award tax cuts to companies that link the pay of their hourly workers to profits and productivity, and that keep the total pay of their top 5 executives within 20 times the pay of their median worker. And impose higher taxes on companies that don’t. We could raise the minimum wage to half the average wage. We could increase public investment in education, including early-childhood. We could eliminate college loans and allow all students to repay the cost of their higher education with a 10 percent surcharge on the first 10 years of income from full-time employment. And we could pay for all this by adding additional tax brackets at the top and increasing the top marginal tax rate to what it was before 1981 – at least 70 percent.

Note: For deeply revealing reports from reliable major media sources on the collapse of the global economy assisted by speculation and profiteering by financial corporations, click here.


Taping of Farm Cruelty Is Becoming the Crime
2013-04-07, New York Times
http://www.nytimes.com/2013/04/07/us/taping-of-farm-cruelty-is-becoming-the-c...

On one covert video, farm workers illegally burn the ankles of Tennessee walking horses with chemicals. Another captures workers in Wyoming punching and kicking pigs and flinging piglets into the air. And at one of the country’s largest egg suppliers, a video shows hens caged alongside rotting bird corpses, while workers burn and snap off the beaks of young chicks. Each video ... drew a swift response: Federal prosecutors in Tennessee charged the horse trainer and other workers, who have pleaded guilty, with violating the Horse Protection Act. Local authorities in Wyoming charged nine farm employees with cruelty to animals. And the egg supplier, which operates in Iowa and other states, lost one of its biggest customers, McDonald’s, which said the video played a part in its decision. But a dozen or so state legislatures have had a different reaction: They proposed or enacted bills that would make it illegal to covertly videotape livestock farms, or apply for a job at one without disclosing ties to animal rights groups. They have also drafted measures to require such videos to be given to the authorities almost immediately, which activists say would thwart any meaningful undercover investigation of large factory farms. Critics call them “Ag-Gag” bills. Some of the legislation appears inspired by the American Legislative Exchange Council, a business advocacy group with hundreds of state representatives from farm states as members. One of the group’s model bills, “The Animal and Ecological Terrorism Act,” prohibits filming or taking pictures on livestock farms to “defame the facility or its owner.” Violators would be placed on a “terrorist registry.”

Note: For deeply revealing reports from reliable major media sources on government corruption, click here.


Monsanto Protection Act put GM companies above the federal courts
2013-04-04, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/environment/blog/2013/apr/04/monsanto-protection-ac...

Even people used to the closeness of the US administration and food giants like Monsanto have been shocked by the latest demonstration of the GM industry's political muscle. Little-noticed in Europe or outside the US, President Barack Obama last week signed off what has become widely known as "the Monsanto Protection Act", technically the Farmer Assurance Provision rider in HR 933: Consolidated and Further Continuing Appropriations Act 2013. According to an array of food and consumer groups, organic farmers, civil liberty and trade unions and others, this hijacks the constitution, sets a legal precedent and puts Monsanto and other biotech companies above the federal courts. It means, they say, that not even the US government can now stop the sale, planting, harvest or distribution of any GM seed, even if it is linked to illness or environmental problems. The backlash has been furious. A Food Democracy Now petition has attracted 250,000 names. The only good news, say the opponents, is that because the "Monsanto Protection Act" was part of the much wider spending bill, it will formally expire in September. The bad news however is that the precedent has been set and it is unlikely that the world's largest seed company and the main driver of the divisive GM technology will ever agree to give up its new legal protection. The company, in effect, now rules.

Note: For deeply revealing reports from reliable major media sources on the harm caused by GMOs, click here.


Road to tax havens is paved with potholes
2013-04-02, San Francisco Chronicle (SF's leading newspaper)
http://www.sfchronicle.com/opinion/openforum/article/Road-to-tax-havens-is-pa...

Our government must act to close the loopholes that allow companies and wealthy individuals to get out of paying their taxes - in particular, loopholes allowing them to move profits offshore to avoid taxation. The U.S. PIRG (Public Interest Research Group) ... released a study outlining how in California alone, an estimated $7.1 billion in potential tax revenue for 2011 was lost because companies and individuals shifted profits to subsidiary shell companies in tax havens. Often described as "sunny places for shady people," tax havens aren't usually associated with mundane issues like potholes - or with cuts to programs for seniors; freezes in funding for public education ... or cancellation of emergency services. Yet the PIRG study, which concludes that the United States is losing about $150 billion in tax revenue annually, shows once again how tax havens and shortfalls in government budgets are directly related. Despite the obvious damage to society, shifting profits offshore is, in most cases, perfectly legal. In fact, tax haven use by big companies is so common that a 2008 Government Accountability Office Report found 83 of the Fortune 100 companies in the United States had subsidiaries in offshore tax havens. Just because something is legal does not mean that it is right.

Note: For a powerfully revealing documentary showing how huge corporations park profits offshore to avoid taxes, click here. For deeply revealing reports from reliable major media sources on corporate corruption, click here.


The corporate ‘predator state’
2013-03-26, Washington Post
http://www.washingtonpost.com/opinions/katrina-vanden-heuvel-the-corporate-pr...

Bipartisan agreement in Washington usually means citizens should hold on to their wallets or get ready for another threat to peace. Beneath all the partisan bickering, bipartisan majorities are solid for a trade policy run by and for multinationals, a health-care system serving insurance and drug companies, an energy policy for Big Oil and King Coal, and finance favoring banks that are too big to fail. Economist James Galbraith calls this the “predator state,” one in which large corporate interests rig the rules to protect their subsidies, tax dodges and monopolies. This isn’t the free market; it’s a rigged market. Wall Street is a classic example. The attorney general announces that some banks are too big to prosecute. Despite what the FBI called an “epidemic of fraud,” not one head of a big bank has gone to jail or paid a major personal fine. Bloomberg News estimated that the subsidy they are provided by being too big to fail adds up to an estimated $83 billion a year. Corporate welfare is, of course, offensive to progressives. But true conservatives are — or should be — offended by corporate welfare as well. Conservative economists Raghuram Rajan and Luigi Zingales argue that it is time to “save capitalism from the capitalists,” urging conservatives to support strong measures to break up monopolies, cartels and the predatory use of political power to distort competition. Here is where left and right meet, not in a bipartisan big-money fix, but in an odd bedfellows campaign to clean out Washington. For that to happen, small businesses and community banks will have to develop an independent voice in our politics.

Note: For deeply revealing reports from reliable major media sources on the collusion between the US government and corrupt financial corporations, click here.


Hot Money Blues
2013-03-25, New York Times
http://www.nytimes.com/2013/03/25/opinion/krugman-hot-money-blues.html

Whatever the final outcome in the Cyprus crisis ... the island nation will have to maintain fairly draconian controls on the movement of capital in and out of the country. It will mark the end of an era for Cyprus, which has in effect spent the past decade advertising itself as a place where wealthy individuals who want to avoid taxes and scrutiny can safely park their money, no questions asked. But it may also mark at least the beginning of the end for something much bigger: the era when unrestricted movement of capital was taken as a desirable norm around the world. [With] the rise of free-market ideology, the assumption [is] that if financial markets want to move money across borders, there must be a good reason, and bureaucrats shouldn’t stand in their way. But the truth, hard as it may be for ideologues to accept, is that unrestricted movement of capital is looking more and more like a failed experiment. It’s hard to imagine now, but for more than three decades after World War II financial crises of the kind we’ve lately become so familiar with hardly ever happened. Since 1980, however, the roster has been impressive: Mexico, Brazil, Argentina and Chile in 1982. Sweden and Finland in 1991. Mexico again in 1995. Thailand, Malaysia, Indonesia and Korea in 1998. Argentina again in 2002. And, of course, the more recent run of disasters: Iceland, Ireland, Greece, Portugal, Spain, Italy, Cyprus. The best predictor of crisis is large inflows of foreign money: in all but a couple of the cases ... the foundation for crisis was laid by a rush of foreign investors into a country, followed by a sudden rush out.

Note: For deeply revealing reports from reliable major media sources on the collusion between the US government and corrupt financial corporations, click here.


FOIA Documents Obtained by Judicial Watch Reveal 200 Claims Filed With HHS for HPV Vaccine Injuries and Deaths, 49 Compensated
2013-03-20, MarketWatch (a Wall Street Journal Website)
http://www.marketwatch.com/story/foia-documents-obtained-by-judicial-watch-re...

Documents reveal that the National Vaccine Injury Compensation Program (VICP) has paid out nearly $6 million in claims to victims of HPV (Human Papillomavirus) vaccine, including families of two dead. Judicial Watch announced today that it has received documents from the Department of Health and Human Services (HHS) revealing that its VICP has awarded $5,877,710 dollars to 49 victims in claims made against the highly controversial HPV vaccines. To date 200 claims have been filed with VICP, with barely half adjudicated. The documents came in response to a February 28, 2013, Judicial Watch lawsuit against HHS to force the department to comply with a November 1, 2012, Judicial Watch Freedom of Information Act (FOIA) request. From its inception, the use of HPV (human papillomavirus) vaccines for sexually transmitted diseases has been hotly disputed. According to the Annals of Medicine: "At present there are no significant data showing that either Gardasil or Cervarix (GlaxoSmithKline) can prevent any type of cervical cancer since the testing period employed was too short to evaluate long-term benefits of HPV vaccination." "This new information from the government shows that the serious safety concerns about the use of Gardasil have been well-founded," said Judicial Watch President Tom Fitton. "Public health officials should stop pushing Gardasil on children."

Note: For lots more on the risks and dangers of this vaccine being promoted by big pharma, click here.


Japan’s Energy Board Meets After Dropping Anti-Nuclear Members
2013-03-14, Washington Post/Bloomberg
http://washpost.bloomberg.com/Story?docId=1376-MJN96O6JIJXS01-037KLNTCSC52QTP...

Japan’s ruling Liberal Democratic Party has removed most anti-nuclear researchers from a revamped post-Fukushima energy policy advisory board to the government. After a landslide victory in a December election, Prime Minister Shinzo Abe has said the previous administration’s policy to abandon atomic power needs to be reviewed. Six of eight members that voted for phasing out nuclear power on the board advising the previous government have been dropped from the LDP panel. Another ten members were reappointed, including Akio Mimura, an adviser for Nippon Steel & Sumitomo Metal Corp., as chairman. He headed an energy advisory board under a previous LDP government that promoted nuclear power. “It’s wrong to let the same man who led discussions on pre-Fukushima energy policy be in charge,” said Tetsunari Iida, the executive director of the Institute for Sustainable Energy Policies. Iida was one of those dropped from the advisory board. In September, the government led by the Democratic Party of Japan approved phasing out nuclear power by the end of the 2030s. Around 160,000 people were evacuated because of radiation fallout. Three options were considered for the country’s future energy supply: Zero nuclear, 15 percent nuclear, and 20 percent to 25 percent. A government poll in August found 47 percent of citizens favored zero, with the remainder split on the other choices. “The LDP wants to avoid the zero nuclear scenario at all costs and is looking for a point of compromise between 15 percent and 20 percent nuclear,” said Hiroshi Takahashi, a research fellow at Fujitsu Research Institute.

Note: For deeply revealing reports from reliable major media sources on the grave dangers posed by nuclear power, click here.


Fukushima And The Navy: Sailors Sue Japan Nuclear Plant Owner, Saying Disaster Made Them Sick
2013-03-11, Huffington Post
http://www.huffingtonpost.com/2013/03/11/fukushima-navy-health-problems_n_285...

Within weeks of setting off a geiger counter and scrubbing three layers of skin off his hands and arms, former Navy quartermaster Maurice Enis recalled being pressured to sign away U.S. government liability for any future health problems. Enis and about 5,000 fellow sailors aboard the USS Ronald Reagan aircraft carrier had finally left Japan, after 80-some days aiding victims of the March 11, 2011, Fukushima earthquake and tsunami, and were about to take a long-awaited port call in Thailand. But first, they were told they needed to fill out some paperwork. "They had us [to] sign off that we were medically fine, had no sickness, and that we couldn't sue the U.S. government," Enis [says], recalling widespread anger among the sailors who ... felt they had little choice. [On] the [second] anniversary of the Fukushima disaster, Enis joined a lawsuit with more than 100 other service members who participated in the rescue mission and who have since developed medical issues they contend are related to radioactive fallout from the disabled Fukushima Daiichi nuclear plant. Rather than targeting the U.S. government, the federal lawsuit names plant owner Tokyo Electric Power Co. the defendant. TEPCO, as the company is known, provided false information to U.S. officials about the extent of spreading radiation from its stricken reactors, according to Roger Witherspoon on his blog Energy Matters.

Note: For more on this, see concise summaries of deeply revealing nuclear power news articles from reliable major media sources.


Realities Behind Prosecuting Big Banks
2013-03-11, New York Times
http://dealbook.nytimes.com/2013/03/11/big-banks-go-wrong-but-pay-a-little-pr...

Are banks too big to jail? If there was any doubt about the answer to that question, Eric H. Holder Jr., the nation’s attorney general, last week blurted out what we’ve all known to be true but few inside the Obama administration have said aloud: Yes, they are. “I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if we do prosecute — if we do bring a criminal charge — it will have a negative impact on the national economy, perhaps even the world economy,” Mr. Holder told the Senate Judiciary Committee. “I think that is a function of the fact that some of these institutions have become too large.” Mr. Holder continued, acknowledging that the size of banks “has an inhibiting influence.” To put this in the proper perspective, Mr. Holder said, for the first time, that he has not pursued prosecutions of big banks out of fear that an indictment could jeopardize the financial system. Does this mean that our banks are still too big to fail? Should we prosecute corporations? Should the size of an institution or its systemic importance influence the decision of prosecutors? “It has been almost five years since the financial crisis, but the big banks are still too big to fail,” [Senator Elizabeth] Warren, a Democrat, said in a statement. “Attorney General Holder’s testimony that the biggest banks are too-big-to-jail shows once again that it is past time to end too-big-to-fail.”

Note: For deeply revealing reports from reliable major media sources on the collusion between government and finance, click here.


It’s time to tax financial transactions
2013-03-05, Washington Post
http://www.washingtonpost.com/opinions/katrina-vanden-heuvel-its-time-to-tax-...

On Friday at midnight, the sequester kicked in, triggering $85 billion in deep, dumb budget cuts that sent “nonessential personnel”— such as air traffic controllers — packing. Not to worry, though: Wall Street’s day was pretty much like any other. Billions of dollars in profits were made off of trillions of dollars in financial transactions. And the vast majority of those transactions were conducted tax-free. We don’t need a team of policymakers to tell us this isn’t good policy, or that it needs changing. Policymakers propose exactly that: a change. Sens. Tom Harkin (D-Iowa) and Sheldon Whitehouse (D-R.I.), along with Rep. Pete DeFazio (D-Ore.), unveiled a bill that would place a light tax on all financial transactions — three pennies on every $100 traded. It’s so small, Wall Street could easily afford it and the average E-Trade investor would barely notice it. This insignificant tax raises a significant amount of revenue — $352 billion over the next 10 years, or enough to refund about one-third of what the sequester will slash from the federal budget. The high-frequency traders that now dominate our markets would be hardest-hit by the tax. Analysts fear that such mass trading strategies could lead to disaster if markets behave unexpectedly. The new tax would discourage these kinds of trades, which would be a good thing. Europe, at least, seems to agree. Eleven nations, led by the conservative German government, are on track to start collecting the tax by January 2014. Expected revenues: $50 billion per year.

Note: For deeply revealing reports from reliable major media sources on financial corruption, click here.


Monsanto, the court and the seeds of dissent
2013-02-19, Los Angeles Times
http://www.latimes.com/news/opinion/commentary/la-oe-kimbrell-monsanto-suprem...

Should anyone, or any corporation, control a product of life? The journey of a 75-year-old Indiana farmer to the [Supreme Court] began rather uneventfully. Vernon Hugh Bowman purchased an undifferentiated mix of soybean seeds from a grain elevator, planted the seeds and then saved seed from the resulting harvest to replant another crop. Finding that Bowman's crops were largely the progeny of its genetically engineered proprietary soybean seed, Monsanto sued the farmer for patent infringement. The case [Bowman vs. Monsanto Co.] is a remarkable reflection on recent fundamental changes in farming. In the 200-plus years since the founding of this country, and for millenniums before that, seeds have been part of the public domain — available for farmers to exchange, save, modify through plant breeding and replant. Through this process, farmers developed a diverse array of plants that could thrive in various geographies, soils, climates and ecosystems. But today this history of seeds is seemingly forgotten in light of a patent system that, since the mid-1980s, has allowed corporations to own products of life. Although Monsanto and other agrochemical companies assert that they need the current patent system to invent better seeds, the counterargument is that splicing an already existing gene or other DNA into a plant and thereby transferring a new trait to that plant is not a novel invention. A soybean, for example, has more than 46,000 genes. Properties of these genes are the product of centuries of plant breeding and should not, many argue, become the product of a corporation. Instead, these genes should remain in the public domain.

Note: For deeply revealing reports from reliable major media sources on the destructive impacts of genetically modified organisms (GMOs), click here.


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