Corporate Corruption News Articles

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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.

A US government-appointed agricultural body tried to crush a Silicon Valley food startup after concluding the company represented a “major threat” and “crisis” for the $5.5bn-a-year egg industry, according to documents obtained by the Guardian. In potential conflict with rules that govern how it can spend its funds, the American Egg Board (AEB) lobbied for a concerted attack on Hampton Creek, a food company that has created a low-cost plant-based egg replacement and the maker of Just Mayo, a mayonnaise alternative. The AEB attempted to have Just Mayo blocked from Whole Foods, asking Anthony Zolezzi, a partner at private equity firm Pegasus Capital Advisors ... to use his influence with Whole Foods to drop the product. (Whole Foods still sells Just Mayo.) More than one member of the AEB made joking threats of violence against Hampton Creek’s founder, Josh Tetrick. “Can we pool our money and put a hit on him?” asked Mike Sencer, executive vice-president of AEB member organization Hidden Villa Ranch. The AEB represents egg farmers across the US and its board is selected by the secretary of agriculture. The Department of Agriculture (USDA) ... suggested [additional] ways to put pressure on Hampton Creek. In January 2014, Roger Glasshoff, then the USDA’s head of shell eggs, told [Outgoing AEB head Joanne] Ivy to contact the FDA about Just Mayo directly. Last month the FDA ruled that Just Mayo could not be called mayonnaise because it does not contain eggs.

Note: Read another news article about Hampton's inspiring success. The USDA allows foods with non-organic ingredients to be labelled "USDA organic". The FDA has no problem allowing cloned animals into the food supply. When government corruption is the standard, anything is possible. But not egg-free mayo.

The leak of new information on the Trans-Pacific Partnership agreement (TPP) shows the mega-trade deal could provide more ways for multinational corporations to influence Australia’s control of its pharmaceutical regulations. Revealed via Wikileaks, the annexe on “transparency and procedural fairness for pharmaceutical products and medical devices” uncovered the draft agreements regarding medicines between the 12 TPPA member countries [representing] 40% of the world’s economy. The leaked text, dated December 2014, laid out the draft rules for member countries regarding medicines under national health care programs, in Australia’s case, the Pharmaceutical Benefits Scheme (PBS). This ‘transparency’ annexe seeks to erode the processes and decisions of agencies that decide which medicines and medical devices to subsidise the public money and by how much. That will mean fewer medicines are subsidised, or people will pay more as co-payments. However, [trade minister Andrew] Robb said ... that the government would not accept anything that would adversely affect the PBS. Parliamentarians were offered the chance to see the TPP draft by Robb [only] if they agreed to a four year non-disclosure agreement. Senator Peter Whish-Wilson ... who has not seen the draft as he refused to agree to the terms of the agreement, said the latest leak suggested the Australian PBS could be undermined.

Note: The Trans-Pacific Partnership may be a pending disaster. But we do not know for sure, because its contents remain secret. For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the corporate world.

Grant David Gillham, former legislative staffer ... knows how to work the system. Three major manufacturers of fire retardants went to the right person in 2007 when they enlisted him to help defeat legislation that would ban two classes of retardants believed to cause cancer. Their instructions to him: Don’t worry about the science. Run a political campaign. Oh, and by the way, he was not to reveal his association with the industry. Now Gillham is speaking out in a big way, and his story ... illustrates the extent to which the legislative process can be manipulated. The chemical industry’s main trade group, the American Chemistry Council, denied any connection with Gillham after a 2012 Chicago Tribune series exposed that the advocacy group he created, Citizens for Fire Safety, was not as it claimed, “a coalition of fire professionals, educators, community activists, burn centers, doctors, fire departments and industry leaders,” [but] was funded by three manufacturers who controlled 40 percent of the global market for the targeted chemicals. The strategy worked in California — Leno’s bill to ban chlorinated and brominated fire retardants died on the Senate floor on Aug. 26, 2008 — and Citizens for Fire Safety went on to help defeat similar bills in other states. The manufacturers’ claims of the lifesaving benefits of fire retardants have been contradicted by scientific studies that suggests their flame-resisting properties are minimal, and are more than offset by their negative effect in making fires more toxic.

Note: For more along these lines, see concise summaries of deeply revealing stories about manipulation of mass media and corporate corruption from reliable sources.

To wage war in Yemen, Saudi Arabia is using F-15 fighter jets bought from Boeing. Pilots from the United Arab Emirates are flying Lockheed Martin’s F-16 to bomb both Yemen and Syria. Soon, the Emirates are expected to complete a deal with General Atomics for a fleet of Predator drones to run spying missions in their neighborhood. As the Middle East descends into proxy wars, sectarian conflicts and battles against terrorist networks, countries in the region that have stockpiled American military hardware are now actually using it and wanting more. American defense firms are following the money. Boeing opened an office in Doha, Qatar, in 2011, and Lockheed Martin set up an office there this year. Lockheed created a division in 2013 devoted solely to foreign military sales, and the company’s chief executive, Marillyn Hewson, has said that Lockheed needs to increase foreign business — with a goal of global arms sales’ becoming 25 percent to 30 percent of its revenue. Daryl Kimball, executive director of the Arms Control Association ... said he viewed the increase in arms sales to the region “with a great deal of trepidation, as it is leading to an escalation in the type and number and sophistication in the weaponry in these countries.” Meanwhile, the deal to sell Predator drones to the Emirates is nearing final approval. If the sale goes through, it will be the first time that the drones will go to an American ally outside of NATO.

Note: If you look at history from the viewpoint that most wars are fostered and enflamed by the military-industrial complex, a lot of things make sense. Read a powerful essay by a top US general exposing the war machine titled "War is a Racket." For more along these lines, see concise summaries of deeply revealing war news articles from reliable major media sources.

Behind the dark glass towers of the Time Warner Center ... a majority of owners have taken steps to keep their identities hidden, registering condos in trusts, limited liability companies or other entities that shield their names. By piercing the secrecy of more than 200 shell companies, The New York Times documented a decade of ownership in this iconic Manhattan way station for global money, [and] found a growing proportion of wealthy foreigners, at least 16 of whom have been the subject of government inquiries around the world. The cases range from housing and environmental violations to financial fraud. Four owners have been arrested, and another four have been the subject of fines or penalties for illegal activities. They have been able to make these multimillion-dollar [real estate] purchases with few questions asked because of United States laws that foster the movement of largely untraceable money through shell companies. Vast sums are flowing unchecked around the world as never before — whether motivated by corruption, tax avoidance or investment strategy, and enabled by an ever-more-borderless economy and a proliferation of ways to move and hide assets. The high-end real estate market has become less and less transparent — and more alluring for those abroad with assets they wish to keep anonymous — even as the United States pushes other nations to help stanch the flow of American money leaving the country to avoid taxes.

Note: The New York Times investigation at the above link provides a comprehensive look at the international crime and political corruption at the heart of Manhattan's spiking real estate prices.

As many as 31 pesticides with a value running into billions of pounds could have been banned because of potential health risks, if a blocked EU paper on hormone-mimicking chemicals had been acted upon. The science paper, seen by the Guardian, recommends ways of identifying and categorising the endocrine-disrupting chemicals (EDCs) that scientists link to a rise in foetal abnormalities, genital mutations, infertility, and adverse health effects ranging from cancer to IQ loss. Commission sources say that the paper was buried by top EU officials under pressure from big chemical firms which use EDCs in toiletries, plastics and cosmetics, despite an annual health cost that studies peg at hundreds of millions of euros. The unpublished EU paper ... was supposed to have enabled EU bans of hazardous substances to take place last year. Under pressure from major chemical industry players, such as Bayer and BASF, the criteria were blocked. In their place, less stringent options emerged. Last month, 11 MEPs complained in a cross-party letter to the health and food safety commissioner, Vytenis Andriukaitis, about the EU’s failure to honour its mandate and adopt the EDC criteria. This was supposed to have happened by the end of 2013. In place of the proposed identification of hormone-mimicking compounds, the EU’s current roadmap favours industry-supported options for potency-based measurements of EDCs. These would set thresholds, below which exposure to low-potency EDCs would be deemed safe.

Note: One key study estimates that as few as zero endocrine-disrupting pesticides will be withdrawn from the EU market as a result of this profit-driven manipulation of policy. For more along these lines, see concise summaries of deeply revealing articles about corporate and government corruption from reliable major media sources.

McDonald’s is really trying to be more transparent about what goes into their food. Mythbusters host Grant Imahara took us from fryer to farm in a reverse process peek at what goes into McDonald’s potatoes. While the global burger chain does explain the usage of a few unpronounceable ingredients meant to preserve color and texture, it looks like these practices aren’t being implemented across the board. After checking out McDonalds.co.uk, a blogger on Boing Boing points out that McDonald’s french fries in the U.K. appear to have far fewer ingredients than those produced in the U.S.-- and no crazy, hard-to-say additives. FoxNews.com did a side by side comparison of the two websites and found the same information. Across the pond, Brits are enjoying McDonald’s French fries sans additives like Sodium Acid Pyrophosphate, Dimethylpolysiloxane and “natural beef flavor.” Dimethylpolysiloxane is “added as an anti-foaming agent” but it’s also a silicon-based organic polymer used to make Silly Putty. Hmm. Looks like the chain has some more explaining to do to American consumers.

Note: For lots more on this, read this great mercola.com article. For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.

The billionaires and corporate oligarchs meeting in Davos this week are getting worried about inequality. The architects of the crisis-ridden international economic order are starting to see the dangers ... of the widest global economic gulf in human history. The scale of the crisis has been laid out for them by the charity Oxfam. On current trends, the richest 1% will have pocketed more than the other 99% put together next year. The 0.1% have been doing even better, quadrupling their share of US income since the 1980s. In most of the world, labour’s share of national income has fallen continuously and wages have stagnated under this regime of privatisation, deregulation and low taxes on the rich. At the same time finance has sucked wealth from the public realm into the hands of a small minority, even as it has laid waste the rest of the economy. Now the evidence has piled up that not only is such appropriation of wealth a moral and social outrage, but it is fuelling social and climate conflict, wars, mass migration and political corruption, stunting health and life chances, increasing poverty, and widening gender and ethnic divides. Escalating inequality has also been a crucial factor in the economic crisis of the past seven years, squeezing demand and fuelling the credit boom. The thinking person’s Davos oligarch realises that allowing things to carry on as they are is dangerous. What they won’t accept is any change in the balance of social power.

Note: Oxfam's complete report "identifies the two powerful driving forces that have led to the rapid rise in inequality" as "market fundamentalism and the capture of politics by elites." For more along these lines, see concise summaries of deeply revealing news articles on income inequality and secret societies which manipulate global politics.

Nicholas and Jill Woodman ... will receive a huge tax deduction for their [charitable] donation of 5.8 million shares of company stock to a donor-advised fund. But there’s no guarantee that one dollar of their October donation will ever be spent [on charity]. Donors gets an immediate, one-time tax break by depositing their money or assets in a donor-advised fund. They can advise the institution holding their money where and when to spend it on their timetable. Boston College Law School Professor Ray Madoff points out, “It is like money-laundering." There was $54 billion under management in donor-advised funds in 2013. Top financial houses like Fidelity, Schwab and Vanguard have fully embraced donor-advised funds. Fidelity Charitable, with $13.2 billion worth of assets under management, is now the nation’s second-largest charity. Even though organizations like Fidelity Charitable, Schwab Charitable and Vanguard Charitable were founded by their financial house namesakes, they are separate 501(c)3 charities. But while Fidelity Charitable is independent from the financial institution, roughly two-thirds of the money in the charitable arm is invested in Fidelity mutual funds. Madoff said that because investment advisers can charge a fee for managing the money in these accounts, they have a natural incentive to keep the money in these accounts growing — and not leaving.

Note: For more along these lines, see these concise summaries of deeply revealing articles about widespread corruption in government and banking and finance.

From his desk in Lower Manhattan, a banker at Goldman Sachs thumbed through confidential documents — courtesy of a source inside the United States government. The banker came to Goldman through the so-called revolving door ... that connects financial regulators to Wall Street. He joined in July after spending seven years as a regulator at the Federal Reserve Bank of New York, the government’s front line in overseeing the financial industry. He received the confidential information, lawyers briefed on the matter suspect, from a former colleague who was still working at the New York Fed. The previously unreported leak, recounted in interviews with the lawyers briefed on the matter who spoke anonymously ... illustrates the blurred lines between Wall Street and the government. When Goldman hired the former New York Fed regulator, who is 29, it assigned him to advise the same type of banks that he once policed. And the banker obtained confidential information [that] provided Goldman a window into the New York Fed’s private insights. The emergence of the leak comes as questions mount about a perceived coziness between the New York Fed and Wall Street banks — Goldman in particular. Revelations from a former New York Fed employee, Carmen Segarra, recently stoked that debate. Ms. Segarra released taped conversations suggesting that her supervisors went soft on Goldman. The new accounts of a regulator and a banker actually sharing confidential documents — violating a cardinal rule of the regulatory world — suggest that ... Goldman, perhaps more than any other Wall Street bank, appears to be entwined with the New York Fed.

Note: For more along these lines, see these concise summaries of deeply revealing articles about widespread corruption in government and banking and finance. For additional information, see the excellent, reliable resources provided in our Banking Corruption Information Center.

In June 2011, (WikiLeaks’ founder) Julian Assange received an unusual visitor: the chairman of Google, Eric Schmidt. The stated reason for the visit was a book. Schmidt was penning a treatise with Jared Cohen, the director of Google Ideas. Cohen had moved to Google from the U.S. State Department. Schmidt arrived first, accompanied by his then partner, Lisa Shields ... a vice president of the Council on Foreign Relations. Two months later, WikiLeaks’ release of State Department cables was coming to an abrupt end. Two years later, in the wake of his early 2013 visits to China, North Korea and Burma, it would come to be appreciated that the chairman of Google might be conducting, in one way or another, “back-channel diplomacy” for Washington. In 1999 ... Schmidt joined the New America Foundation. The foundation and its 100 staff serve as an influence mill, using its network of approved national security, foreign policy and technology pundits to place hundreds of articles and op-eds per year. In 2003, the U.S. National Security Agency (NSA) had already started systematically violating the Foreign Intelligence Surveillance Act (FISA). During the same period, Google ... was accepting NSA money to the tune of $2 million to provide the agency with search tools. In 2012, Google arrived on the list of top-spending Washington, D.C., lobbyists. Whether it is being just a company or “more than just a company,” Google’s geopolitical aspirations are firmly enmeshed within the foreign-policy agenda of the world’s largest superpower.

Note: Read the complete Newsweek article summarized above for Julian Assange's detailed accounting of the connections between Washington D.C. insiders, Google and related technology companies, intelligence agencies, and civil society organizations. For more about Wikileaks, read this news article summary. For more on the geopolitical big picture, see these concise summaries of deeply revealing news articles from reliable major media sources.

Did anyone ever doubt that the New York Fed was in hock to Wall Street? Or that Fed bank examiners ... might fear alienating the powerful financiers on whom they depend for information or future jobs? It’s one thing to know and another to hear in painful, crackling detail how the Fed’s financial cops slip on their velvet gloves to deal with Goldman Sachs. Or how Segarra, one of a group of examiners brought in after the financial crisis to keep a closer watch on the till, was fired, perhaps for doing her job. Consider one of the shady deals highlighted on the secret tapes of New York Fed meetings, which Segarra made with a spy recorder before she was let go and which were made public on Sept. 26. The Fed employees, who work inside the banks they examine (yes, it’s literally an inside job), knew the deal was dodgy. Numerous experts believe that the size of the financial sector is slowing growth in the real economy by sucking the monetary oxygen out of the room. Banks don’t want to lend; they want to trade, often via esoteric deals that do almost nothing for anyone outside Wall Street. This disconnect between the real economy and finance is now being closely studied by policymakers and academics. Adair Turner, a former British banking regulator, thinks that only about 15% of U.K. financial flows go to the real economy; the rest stay within the financial system, propping up existing corporate assets, supporting trading and enabling $40 million briefcase-watching fees. If the New York Fed really wants to redeem itself, it might consider commissioning a similar study to look at Wall Street’s contribution to the U.S. economy.

Note: For more along these lines, see concise summaries of deeply revealing financial news articles from reliable major media sources. For more along these lines, see the excellent, reliable resources provided in our Banking Corruption Information Center.

[Vandana] Shiva’s fiery opposition to globalization and to the use of genetically modified crops has made her a hero to anti-G.M.O. activists everywhere. At each stop [on a recent European tour], Shiva delivered a message that she has honed for nearly three decades: by engineering, patenting, and transforming seeds into costly packets of intellectual property, multinational corporations such as Monsanto, with considerable assistance from the World Bank, the World Trade Organization, the United States government, and even philanthropies like the Bill and Melinda Gates Foundation, are attempting to impose “food totalitarianism” on the world. She describes the fight against agricultural biotechnology as a global war against a few giant seed companies on behalf of the billions of farmers who depend on what they themselves grow to survive. Shiva contends that nothing less than the future of humanity rides on the outcome. Shiva, along with a growing army of supporters, argues that the prevailing model of industrial agriculture, heavily reliant on chemical fertilizers, pesticides, fossil fuels, and a seemingly limitless supply of cheap water, places an unacceptable burden on the Earth’s resources. The global food supply is indeed in danger. Feeding the expanding population without further harming the Earth presents one of the greatest challenges of our time, perhaps of all time. By the end of the century, the world may well have to accommodate ten billion inhabitants. Sustaining that many people will require farmers to grow more food in the next seventy-five years than has been produced in all of human history.

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

Goldman Sachs is paying its largest bill yet to resolve a government lawsuit related to the financial crisis. The bank said ... that it had agreed to buy back $3.15 billion in mortgage bonds from Fannie Mae and Freddie Mac to end a lawsuit filed in 2011 by the Federal Housing Finance Agency, the federal regulator that oversees the two mortgage companies. The agency had accused Goldman of unloading low-quality mortgage bonds onto Fannie Mae and Freddie Mac in the run-up to the financial crisis. It estimates that Goldman is paying $1.2 billion more than the bonds are now worth. Most of the other 18 banks that faced similar suits from the housing agency have already reached settlements. The previous settlements have included penalties, which Goldman avoided. But Goldman had been hoping to avoid settling the suit altogether, contending as recently as last month that many of the government’s claims should be dismissed. The $1.2 billion figure carries a sting because it is double the $550 million payment that Goldman made in 2010 to settle the most prominent crisis-era case it has faced — the so-called Abacus case. Since then, Goldman has largely avoided the billion-dollar penalties paid by other banks for wrongdoing before the 2008 crisis. This week, Bank of America reached a $16.65 billion settlement with the Justice Department related to the bank’s handling of shoddy mortgages. In a separate deal this year, Bank of America agreed to pay $9.5 billion to settle its part of the housing finance agency’s lawsuit. Some of that money was a penalty and the rest was used to buy back mortgage bonds.

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

The principle that all Internet content should be treated equally as it flows through cables and pipes to consumers looks all but dead. The Federal Communications Commission said on [April 23] that it would propose new rules that allow companies like Disney, Google or Netflix to pay Internet service providers like Comcast and Verizon for special, faster lanes to send video and other content to their customers. The proposed changes would affect what is known as net neutrality — the idea that no providers of legal Internet content should face discrimination in providing offerings to consumers, and that users should have equal access to see any legal content they choose. The proposal comes three months after a federal appeals court struck down, for the second time, agency rules intended to guarantee a free and open Internet. The regulations could radically reshape how Internet content is delivered to consumers. The rules are also likely to eventually raise prices as the likes of Disney and Netflix pass on to customers whatever they pay for the speedier lanes, which are the digital equivalent of an uncongested car pool lane on a busy freeway. Consumer groups immediately attacked the proposal, saying that not only would costs rise, but also that big, rich companies with the money to pay large fees to Internet service providers would be favored over small start-ups with innovative business models.

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

Lawmakers of both parties are desperately trying to stop the Internal Revenue Service from interfering with the most powerful political invention that ever fell into their laps: the use of non-profit groups as a source of unlimited and anonymous campaign money. An investigation now unfolding in Utah ... exposes in remarkable detail how profoundly the non-profit system can be corrupted for the benefit of a single industry and a single politician. The politician involved was John Swallow, a former lobbyist for an empire of payday-loan and check-cashing companies. When Mr. Swallow ran for Utah Attorney General as a Republican in 2012, his strategist established several social-welfare groups, which don’t have to name their donors, so that the payday-loan industry could support him financially without anyone knowing. The groups collected hundreds of thousands of dollars in secret donations from the industry, and the money was used to run attack ads against Mr. Swallow’s opponent, who wanted to crack down on payday lenders. The ads worked, and Mr. Swallow was elected. When the I.R.S. started looking into the non-profit groups and demanding documentation, ... Congressional Republicans accused the agency (falsely) of singling out conservative non-profit groups. Eventually, a parallel state investigation drove Mr. Swallow from office; he resigned last fall, and last week a state legislative panel accused him of breaching the public trust by hanging “a veritable ‘for sale’ sign on the office door that invited moneyed interests to seek special treatment and favors.”

Note: For more on serious problems with the US electoral system, see the deeply revealing reports from reliable major media sources available here.

In my last year on Wall Street my bonus was $3.6 million — and I was angry because it wasn’t big enough. I was 30 years old, had no children to raise, no debts to pay, no philanthropic goal in mind. I wanted more money for exactly the same reason an alcoholic needs another drink: I was addicted. It was actually my absurdly wealthy bosses who helped me see the limitations of unlimited wealth. I was in a meeting with one of them, and a few other traders, and they were talking about the new hedge-fund regulations. Most everyone on Wall Street thought they were a bad idea. “But isn’t it better for the system as a whole?” I asked. The room went quiet, and my boss shot me a withering look. I remember his saying, “I don’t have the brain capacity to think about the system as a whole. All I’m concerned with is how this affects our company.” I felt as if I’d been punched in the gut. He was afraid of losing money, despite all that he had. From that moment on, I started to see Wall Street with new eyes. I noticed the vitriol that traders directed at the government for limiting bonuses after the crash. I heard the fury in their voices at the mention of higher taxes. These traders despised anything or anyone that threatened their bonuses. Wealth addiction was described by the late sociologist and playwright Philip Slater in a 1980 book, but addiction researchers have paid the concept little attention. Like alcoholics driving drunk, wealth addiction imperils everyone. Wealth addicts are, more than anybody, specifically responsible for the ever widening rift that is tearing apart our once great country.

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

Japan's flagging anti-nuclear movement is getting a boost from two former prime ministers who are calling for atomic power to be phased out following the Fukushima disaster. Former Prime Minister Junichiro Koizumi said [on November 12] that the current prime minister, Shinzo Abe, ... "should use the power given to him to do what the majority of the people want," Koizumi said in a speech at the Japan Press Club. "It can be achieved. Why miss this chance?" Koizumi, who supported nuclear power during his 2001-2006 term in office, said that with Japan's nuclear plants all offline for safety checks it would be easiest to begin the phase-out soon. Polls have shown the majority of the public ... prefers to shift away from the nuclear plants that provided nearly a third of Japan's power generation capacity before the accident at the Fukushima Dai-Ichi nuclear plant. Three [former prime ministers], including Koizumi, have said they support ending use of nuclear power. Their support could help reinvigorate the anti-nuclear movement, which has lost some of its vitality nearly three years after the Fukushima accident. Another former prime minister, Morihiro Hosokawa, said in an interview ... that he also favors an end to reliance on nuclear power. "I can't understand why they want restarts of the nuclear plants when there is no place to discard the nuclear waste," said Hosokawa, who served as prime minister for eight months in 1993-94. "It would be a crime against future generations for our generation to restart nuclear plants without resolving this issue," he said. Experts have questioned whether earthquake-prone Japan can safely store nuclear waste under any scenario.

Note: For more on the risks of nuclear power, see the deeply revealing reports from reliable major media sources available here.

Federal Reserve Bank of New York President William Dudley said [that] any effort to reduce the threat to financial stability posed by massive financial firms also must include compelling banking executives to have more respect for the law and the broader impact on society of their actions. “There is evidence of deep-seated cultural and ethical failures at many large financial institutions,” Mr. Dudley said. “Whether this is due to size and complexity, bad incentives or some other issues is difficult to judge, but it is another critical problem that needs to be addressed” as regulators seek to deal with the problem of banks that are considered too big to fail, the official said. Mr. Dudley [added] that “ending too big to fail and shifting the emphasis to longer-term sustainability will encourage the needed cultural shift necessary to restore public trust in the industry.” His comments on banking issues come in the wake of last week’s decision by the Fed to stay the course on its $85-billion-a-month bond-buying program. Mr. Dudley has been a steadfast supporter of the aggressively easy-money policies pursued by the central bank.

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

Two young children in Pennsylvania were banned from talking about fracking for the rest of their lives under a gag order imposed under a settlement reached by their parents with ... a leading oil and gas driller. The settlement, reached in 2011 but unsealed only last week, barred the Hallowichs' son and daughter, who were then aged 10 and seven, from ever discussing fracking or the Marcellus Shale, a leading producer in America's shale gas boom. The Hallowich family had earlier accused oil and gas companies of destroying their 10-acre farm in Mount Pleasant, Pennsylvania and putting their children's health in danger. Their property was adjacent to major industrial operations ... which the Hallowich family said contaminated their water supply and caused burning eyes, sore throats and headaches. The family gag order was a condition of the settlement. The couple told the court they agreed because they wanted to move to a new home away from the gas fields, and to raise their children in a safer environment. "We need to get the children out of there for their health and safety," the children's mother, Stephanie Hallowich, told the court. She was still troubled by the gag order, however. "I'm not quite sure I fully understand. We know we're signing for silence forever but ... my daughter is turning seven today, my son is 10." The court transcripts were released in response to an open records request by the Pittsburgh Post Gazette, which first reported on the children's lifetime gag order.

Note: Why isn't the US major media giving more coverage this craziness? The fracking industry poisons drinking water, causes earthquakes and yet remains shrouded in secrecy.

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.