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.

AT&T Inc. and Verizon Wireless, the biggest U.S. mobile carriers, are planning a venture to displace credit and debit cards with smartphones, posing a new threat to Visa Inc. and MasterCard Inc., three people with direct knowledge of the plan said. The trial would be the carriers’ biggest effort to spur mobile payments in the U.S. and supplant more than 1 billion plastic cards in American wallets. Smartphones have encroached on tasks ranging from Web browsing to street navigation and now may help the phone companies compete with San Francisco-based Visa and MasterCard, the world’s biggest payments networks. The service, similar to those already available in Japan, Turkey and the U.K., would use contactless technology to complete purchases in stores. They’d be processed through Discover’s payments network, currently the fourth-biggest behind Visa, MasterCard and American Express Co. Barclays would be the bank helping to manage the accounts, said the people, who requested anonymity because of confidentiality agreements. Retailers may be eager to help another network after years of fighting over transaction fees set by Visa and MasterCard.

Marcy Kaptur of Ohio is the longest-serving Democratic congresswoman in U.S. history. Her district, stretching along the shore of Lake Erie from west of Cleveland to Toledo, faces an epidemic of home foreclosures and 11.5 percent unemployment. Now, she is recommending a radical foreclosure solution from the floor of the U.S. Congress: "So I say to the American people, you be squatters in your own homes. Don't you leave." She criticizes the bailout's failure to protect homeowners facing foreclosure. These mortgages were made, then bundled into securities and sold and resold repeatedly, by the very Wall Street banks that are now benefiting from [a government bailout]. The banks foreclosing on families very often can't locate the actual loan note that binds the homeowner to the bad loan. "Produce the note," Kaptur recommends [to] those facing foreclosure demands of the banks. "[P]ossession is nine-tenths of the law," Rep. Kaptur [said]. "Therefore, stay in your property. Get proper legal representation ... [if] Wall Street cannot produce the deed nor the mortgage audit trail ... you should stay in your home. It is your castle. It's more than a piece of property. ... If you look at the bad paper, if you look at where there's trouble, 95 to 98 percent of the paper really has moved to five institutions: JPMorgan Chase, Bank of America, Wachovia, Citigroup and HSBC. They have this country held by the neck."

Note: Why is it that with the trillions of dollars given by the U.S. government to prop up banks who used shady loan practices, so few homeowners facing foreclosure have received any assistance? For many revealing reports on the realities of the Wall Street bailout, click here.

A federal panel of scientists [has concluded] that an estrogen-like compound in plastic could be posing some risk to the brain development of babies and children. Bisphenol A, or BPA, [a component of polycarbonate plastic,] is found in low levels in virtually every human body. The decision by the 12 advisors of the Center for the Evaluation of Risks to Human Reproduction ... is the first official, government action related to the chemical. The scientists ranked their concerns about BPA, concluding they had "some concern" about neurological and behavioral effects in fetuses, infants and children, but "minimal" or "negligible" concern about reproductive effects. The findings put the panel roughly in the middle -- between the chemical industry, which has long said there is no evidence of danger to humans, and the environmental activists and scientists who say it is probably harming people. Environmentalists lambasted the panel, saying it had minimized the risks and ignored important research. "Only the chemical industry agrees with the decision that BPA has little or no human health risks. That by itself should speak volumes about the corrupted process endorsed by the panel today," said Dr. Anila Jacob of the Environmental Working Group. The panel's preliminary report on BPA was drafted by a private consulting firm with financial ties to the chemical industry. The National Toxicology Program fired the company but ruled that the report was unbiased. The panel rejected several dozen animal studies that found reproductive effects. The decision to reject the studies has been controversial with toxicologists.

John Revelli vividly remembers the day the U.S. Supreme Court issued its infamous Kelo decision that allowed local governments to condemn private property under eminent domain, not only for public uses such as roads and schools, but also to accommodate private developers. "The Kelo decision," the former owner of Revelli Tires in Oakland [said,] "came out on June 23 of '05, and the deadline that the city put up against us to move out was July 1." The U.S. Constitution states, "Nor shall private property be taken for public use, without just compensation." The big bench wrongly ruled that "public use" could be whatever states want it to be -- including private developments designed to expand the tax base. The ruling allowed the City of New London, Conn., to seize the land under Susette Kelo's "little pink cottage" and hand it over to a private developer for a development featuring high-end waterfront homes. And Oakland went ahead with its plans to seize Revelli Tires [as well as] Autohouse -- a business owned and run by first-generation American Tony Fung -- in order to accommodate a private apartment project. Revelli and Fung lost their businesses and their property. As former Justice Sandra Day O'Connor, who dissented on Kelo, warned, "The specter of condemnation hangs over all property. Nothing is to prevent the state from replacing any Motel 6 with a Ritz-Carlton, any home with a shopping mall, or any farm with a factory." No government should be able to take your land to give it to a corporation. When states and cities, in search of a richer tax base, can take your land and give it to a private developer -- they have license to trample on everyone's rights. And no one, except the very rich, is safe.

They might be called China’s renegade businessmen, small entrepreneurs who are experts at counterfeiting and willing to go to extraordinary lengths to make a profit. But just how far out of the Chinese mainstream are they? Cutting corners or producing fake goods is not just a legacy of China’s initial rush toward the free market three decades ago but [is] still woven into the fabric of the nation’s thriving industrial economy. It is driven by entrepreneurs who are taking advantage of a weak legal system, lax regulations and a business culture where bribery and corruption are rampant. “This is cut-throat market capitalism,” said Wenran Jiang, a specialist in China who teaches at the University of Alberta. Since this country’s economic reforms began to take root in the 1980s, businesses have engineered countless ways to produce everything from fake car parts, cosmetics and brand name bags to counterfeit electrical cables and phony Viagra. Counterfeiting rings are broken nearly every week; nonetheless, the government seems to be waging a losing battle against the operations. Dozens of Chinese cities have risen to prominence over the last two decades by first specializing in fake goods, like Wenzhou, which was once known for selling counterfeit Procter & Gamble products, and Kaihua in Zhejiang province, which specialized in fake Philips light bulbs. For a time, people even derided the entire province of Henan as the capital of substandard or fake goods, like medicines that could make you miraculously grow taller.

Note: The fact that China recently sentenced to death the former head of the State Food and Drug Administration may show that China is trying to address the problem, yet corruption is rampant in the drug industries of China, the U.S., and most other countries.

At Bob Oyster's Shell station ... putting the price way up over $4 a gallon isn't about making a profit. It's about making a statement to a multinational corporation. After Shell forced him to pay higher prices for gas in San Francisco and jacked up his rent, Oyster says, he decided to fight back. Far from making a huge profit, Oyster is going out of business. He has operated the Shell station at Sixth and Harrison for 22 years, but he's walking away from it at the end of the month. "I'm getting nothing for the station,'' he says. At a time when the oil companies are posting record profits, the little guys are struggling to stay in business. And many, like Oyster, are giving up the fight. "The dealer can no longer be competitive,'' says Dennis DeCota, executive director of the California Service Station and Automotive Repair Association. "The companies are squeezing these guys out. It's just wrong.'' Oyster says his rent has gone up exponentially. Fifteen years ago it was $1,000 a month. Then it went to $6,000, then $8,000. This year Shell came back with a demand of $13,000. DeCota and Oyster see [a] sinister motive: If the dealers like them leave, a company like Shell can run its stations with its own employees and set its own pump prices. "That way they really are controlling it from the well head to the gas pump,'' says DeCota. While the price per gallon gets all the attention, Oyster says the little secret of independent dealers is that, like movie theater operators, they make their profit on the extras -- snacks, drinks and other items.

Note: When the big oil boys supposedly believe in the "trickle down" theory, why are they not sharing any of their huge profits with their dealers? And why is there so little reporting on the arbitrary raising of gas prices?

The United States and the European Union have signed up to a new transatlantic economic partnership at a summit in Washington. The pact is designed to boost trade and investment by harmonising regulatory standards, laying the basis for a US-EU single market. The two sides agreed to set up an "economic council" to push ahead with regulatory convergence in nearly 40 areas, including intellectual property, financial services, business takeovers and the motor industry. The aim is to increase trade and lower costs. Some reports suggest that incompatible regulations in the world's two richest regions add 10% to the cost of developing and producing new cars.

Note: Why is this important news getting such minimal press coverage?

The March 16 recall of 91 pet food products manufactured by Menu Foods wasn't big news at first. Early coverage reported only 10-15 cats and dogs dying. I'm a contributing editor for a nationally syndicated pet feature ... and all of us there have close ties to the veterinary profession. What we were hearing from veterinarians wasn't matching what we were hearing on the news. Although ... Menu Foods started getting complaints as early as December 2006, FDA records state the company received their first report of a food-related pet death on February 20. One week later, on February 27, Menu started testing the suspect foods. Three days later, on March 3, the first cat in the trial died of acute kidney failure. Nearly one month passed from the date Menu got its first report of a death to the date it issued the recall. At that point, Menu had seen a 35 percent death rate in their test-lab cats. We started a database for people to report their dead or sick pets. As of March 31, the number of deaths alone was at 2,797. Pet owners were encouraged to report deaths and illness to the FDA. But ... there was no place on the agency's Web site to do so. The FDA kept confirming a number it had to have known was only the tip of the iceberg. It prevented veterinarians from having the information they needed to treat their patients. It allowed the media to repeat a misleadingly low number ... preventing a lot of people from really grasping the scope and implication of the problem. An import alert buried on the FDA Web site ... identified the Chinese company that is the source of the contaminated gluten -- gluten that is now known to be sold not only for use in animal feed, but in human food products, too.

Note: If you want to understand how the FDA sometimes works to support big industry at the expense of our health (and in this case the health of our pets), the entire article is a big eye-opener. Click here for more.

France's famous high-speed train, the TGV, broke its 17-year-old world speed record today when it hit a top speed of 357.2 mph. Another French train held the previous rail train record, set in 1990, of 320.2 mph. Normal TGV trains have a cruising speed of 186 mph. Japan holds the absolute speed record for a train, with its magnetically levitated Maglev train that floats over a guideway on a magnetic field without ever touching the track. The Maglev set a record of 361 mph in 2003.

Note: A CNN report states that the fastest train in the U.S. is the Acela, with a top speed of 150 mph. The same report notes "the top speed for most passenger trains outside the Northeast Corridor ... is 79 mph." Another CNN article comments "Japan's Shinkansen trains, introduced just before the 1964 Tokyo Olympics, regularly hit 186 mph." Why are American trains so backward compared to the rest of the world? Could it have anything to do with oil? For more, click here.

The U.S. Food and Drug Administration said on Tuesday it would make organizational changes to improve internal communication about potential risks that emerge after a new drug reaches the market. The move is part of the agency's response to an Institute of Medicine (IOM) report that sharply criticized the FDA's drug safety oversight and called for more staffing, funding and power to police the drug industry. The September 2006 report also found a "dysfunctional" FDA structure that hindered the agency's ability to protect public health. The IOM experts said they found FDA officials had trouble managing scientific disagreements among staff and downplayed some concerns by safety reviewers who monitor drugs after they win approval. On Tuesday, the agency said it was "making specific organizational and management changes to increase communications among FDA review staff and safety staff." The announcement came as lawmakers prepare to debate critical funding legislation for the agency that could become a vehicle for drug safety reforms. The FDA had requested the IOM report after it came under harsh criticism for its handling of Merck & Co. Inc.'s withdrawn arthritis drug Vioxx and other medicines. Merck pulled Vioxx from the market in 2004, five years after its approval, because of a link to heart attacks and strokes.

Frustrated government auditors pleaded, cajoled and finally threatened Halliburton Co. executives who repeatedly failed to comply with government reporting requirements under a key Iraq contract with a $1.2-billion potential price tag. The 15-page report cites findings by auditors that Halliburton overcharged -- "apparently intentionally" -- on the contract by using hidden calculations, and attempted in one instance to bill the government for $26 million in costs it did not incur. The report blamed the Department of Defense for awarding the contract despite warnings from auditors that Halliburton's cost estimating system had "significant deficiencies." Although federal officials have criticized the company and threatened to cancel its contracts, Halliburton remains the largest private contractor in Iraq. The contract, awarded in January 2004, was one of three Iraq pacts for the company once headed by Vice President Dick Cheney. Although the other two agreements...have faced heavy criticism as no-bid contracts...Tuesday's report was the first to focus on the third Halliburton contract. "You are hereby notified that the government considers that you have universally failed to provide adequate cost information as required under the subject contract," a U.S. contracting officer wrote in an Aug. 28, 2004, letter to an executive of KBR, the Halliburton unit formerly known as Kellogg Brown & Root.

Exxon Mobil Corp. had a quarter for the record books. The world's largest publicly traded oil company said Thursday high oil and natural-gas prices helped its third-quarter profit surge almost 75 percent to $9.92 billion, the largest quarterly profit for a U.S. company ever, and it was the first to ring up more than $100 billion in quarterly sales. The hurricanes slashed Exxon Mobil's U.S. production volumes by 50,000 barrels of oil equivalent per day, down nearly 5 percent year-over-year, costing the company $45 million before taxes. The company said total daily production slipped to 2.45 million barrels of oil equivalent from 2.51 million barrels.

Note: Isn't it amazing that though oil production fell, and though we all are paying much higher gas prices, Exxon Mobil earned the largest profits ever in the same quarter as Hurricane Katrina? Wouldn't it be nice if during a national catastrophe the oil companies were willing to drop their prices and suffer a little with the rest of us?

The two sides in the debate over genetically modified crops issued warring reports assessing the first decade of the technology this week, as the industry's sunny view clashed with the darker vision of critics. The world's farmland planted with biotechnology crops reached 252 million acres in 2006, the industry-backed International Service for the Acquisition of Agri-Biotech Applications calculated in a report ... that promotes the products as solutions for hunger and future fuel demand. The report concluded that biotechnology boosts crop yields and benefits the environment. That view was challenged by Friends of the Earth International and the Center for Food Safety in a report released Wednesday. The two groups argued that engineered plants don't produce larger harvests than conventional varieties, are often more vulnerable to drought and have increased the use of pesticides. The United States and Argentina host about 70 percent of the world's biotech crop acreage, both sides said. But adoption of the technology is growing at a faster rate in developing countries than in industrialized nations, according to the International Service. About 10 million farmers in 22 countries sow genetically modified crops, it said. The dominant biotech crop is soybeans, with 57 percent of world acreage, followed by maize, cotton and canola. Opponents said the crops are mainly a boon to agribusiness and big agricultural chemical companies trying to increase sales of seeds, weed-killers and bug sprays. Biotech crop seeds are often engineered to be resistant to the herbicides or pesticides sold by the same company.

Note: For reliable information showing that you may be eating genetically modified food every day which scientific experiments have repeatedly demonstrated can cause sickness and even death, click here.

Drug companies fund a growing number of the studies in leading psychiatric journals, and drugs fare much better in these company-funded studies than in trials done independently or by competitors, researchers reported Wednesday. About 57% of published studies were paid for by drug companies in 2002, compared with 25% in 1992, says psychiatrist Igor Galynker of Beth Israel Medical Center in New York City. His team looked at clinical research in four influential journals: American Journal of Psychiatry, Archives of General Psychiatry, Journal of Clinical Psychiatry and Journal of Clinical Psychopharmacology. In the report, released at the American Psychiatric Association meeting in Toronto, reviewers did not know who paid for the studies they evaluated, Galynker says. There were favorable outcomes for a medication in about: eight out of 10 studies paid for by the company that makes the drug; five out of 10 studies done with no industry support; three out of 10 studies done by competitors of the firm making the drug. As drug companies increasingly fund research that yields favorable outcomes for their drugs, there may be a built-in bias because journals are reluctant to publish studies with negative or inconclusive findings.

Note: To learn more about the astonishing profits and power of the major drug companies, read our concise summary of a major insider's research at http://www.WantToKnow.info/healthcoverup

Note: We usually limit ourselves to information from sources known and respected by the public. For this message, we're making an exception. Jeff Rense of rense.com is a radio personality and researcher of major cover-ups with no strong credentials other than a large following of people convinced of the quality of his work. His popular website receives millions of visits a month. Below is vital information everyone should know.

Royal Raymond Rife was a brilliant scientist born in 1888 and died in 1971. He received 14 major awards and honors and was given an honorary Doctorate by the University of Heidelberg for his work. By 1933, he had ... constructed the incredibly complex Universal Microscope, which ... was capable of magnifying objects 30,000 times their normal size. With this incredible microscope, Rife became the first human being to actually see a live virus. In 1934, the University of Southern California appointed a Special Medical Research Committee to bring terminal cancer patients ... to Rife's San Diego Laboratory and clinic for treatment. The team included doctors and pathologists assigned to examine the patients - if still alive - in 90 days. After the 90 days of treatment, the Committee concluded that 86.5% of the patients had been completely cured. On November 20, 1931, forty-four of the nation's most respected medical authorities honored Royal Rife with a banquet. But by 1939, almost all of these distinguished doctors and scientists were denying that they had ever met Rife. The last thing in the world that the pharmaceutical industry wanted was ... a painless therapy that cured ... terminal cancer patients and cost nothing to use but a little electricity. It might give people the idea that they didn't need drugs. Medical journals, supported almost entirely by drug company revenues and controlled by the AMA, refused to publish any paper by anyone on Rife's therapy. Rife technology became public knowledge again in 1986 with the publication of The Cancer Cure That Worked, by Barry Lynes, and other material about Royal Rife and his monumental work.

Note: For excellent video documentaries, including interviews with Royal Rife: http://www.rifevideos.com. For an excellent website focused on Rife's work, click here. For more reliable, verifiable information on health cover-ups, click here.

The nation's six big Wall Street banks posted record, or near record, profits in the first quarter. While higher interest rates allowed banks to earn more from lending in the first quarter, the main boost ... came from the billions of dollars they saved in taxes under the tax law Trump signed in December. Combined, the six banks saved at least $3.59 billion last quarter, according to an Associated Press estimate, using the bank's tax rates going back to 2015. Before the change in tax law, the maximum U.S. corporate income tax rate was 35 percent, not including what companies paid in state income taxes. Banks historically paid some of the highest taxes among the major industries, due to their U.S.-centric business models. Before the Trump tax cuts, these banks paid between 28 to 31 percent of their income each year in corporate taxes. The results released over the past week show how sharply those rates have dropped. JPMorgan Chase said it had a first-quarter tax rate of 18.3 percent, Goldman Sachs paid just 17.2 percent in taxes, and ... Citigroup, had a tax rate of 23.7 percent. This is just one quarter's results. Bank executives at the big six firms have estimated that their full-year tax rates will be something closer to 20 percent to 22 percent. The AP's calculations are roughly in line with what Wall Street analysts predicted. Bank industry analyst Mike Mayo ... estimated that that the big U.S. banks combined would save roughly $19 billion in taxes for the full year.

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

Chelsea Manning, the transgender U.S. Army soldier who spent seven years in prison for leaking classified documents, will not be distinguished visiting fellow at Harvard after growing backlash prompted the school to rescind the invitation. The school withdrew Manning's invite two days after announcing she would be one of roughly ten visiting fellows this fall. Manning's designation as a visiting fellow led to Mike Morell, former deputy director and acting director of the CIA, to resign his post as a senior fellow at Harvard University, CBS reported. CIA Director Mike Pompeo also canceled a speaking event Thursday at a Harvard forum in protest of what he called the school's decision to place Manning in a "position of honor." Manning was convicted of leaking more than 700,000 classified documents, including battlefield reports on Iraq and Afghanistan and State Department cables, while working as an intelligence analyst in Iraq. She said the leaks were intended to expose wrongdoing. Manning was arrested in May 2010 and given a 35-year sentence, which was commuted in the final days of the Obama administration. Manning was known as Pvt. Bradley Manning at the time of her arrest, but announced she was transgender during her incarceration. Elmendorf said Manning will still spend a day at the Kennedy School and speak in the Forum, though she will not be designated a visiting fellow.

Note: Read about Manning's wartime whistleblowing in this CNN story. For more along these lines, see concise summaries of deeply revealing news articles on corruption in intelligence agencies and in the corporate world.

Leaked documents and public records reveal a troubling fusion of private security, public law enforcement, and corporate money in the fight over the Dakota Access Pipeline. By the time law enforcement officers began evicting residents of the ... resistance camp near the Standing Rock Sioux reservation on February 22, the brutal North Dakota winter had already driven away most of the pipeline opponents. It would have been a natural time for the private security company in charge of monitoring the pipeline to head home. But internal communications between TigerSwan and its client, pipeline parent company Energy Transfer Partners, show that the security firm instead reached for ways to stay in business. Indeed, TigerSwan appeared to be looking for new causes, too. The ... firm’s sweeping surveillance of anti-Dakota Access protesters had already spanned five months and expanded into Iowa, South Dakota, and Illinois. TigerSwan became particularly interested in Chicago. [Leaked] documents dated between February 19 and February 21 describe TigerSwan’s efforts to monitor an anti-Trump protest organized by the local chapter of the Answer Coalition, an anti-war, anti-racism group. Answer Coalition’s ... John Beacham, who organized the protest TigerSwan described, said that [the NoDAPL movement] was not the event’s primary focus. “They’re trying to make connections where they aren’t. It’s almost like they’re trying to cast conspiracy theories across the entire progressive movement,” he told The Intercept.

Note: The above article is part of an in-depth series, and includes many original source documents. Standing Rock activists were also targeted for investigation by the FBI’s joint terrorism taskforce. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the disappearance of privacy.

In June, Dr. Barbara Bowman, a high-ranking official within the Centers for Disease Control and Prevention, unexpectedly departed the agency, two days after information came to light indicating that she had been communicating regularly with - and offering guidance to - a leading Coca-Cola advocate seeking to influence world health authorities on sugar and beverage policy matters. Now, more emails suggest that another veteran CDC official has similarly close ties to the global soft drink giant. Michael Pratt, Senior Advisor for Global Health in the National Center for Chronic Disease Prevention and Health Promotion at the CDC, has a history of promoting and helping lead research funded by Coca-Cola. Pratt also works closely with the nonprofit corporate interest group set up by Coca-Cola called the International Life Sciences Institute (ILSI), emails obtained through Freedom of Information requests show. His work ... includes a position as a professor at Emory University, a private research university in Atlanta that has received millions of dollars from the Coca-Cola Foundation and more than $100 million from famed longtime Coca-Cola leader Robert W. Woodruff. Coca-Cola’s financial support for Emory is so strong that the university states on its website that “it’s unofficially considered poor school spirit to drink other soda brands.” The mission of the CDC is protecting public health. It is problematic for agency officials to collaborate with a corporate interest that has a track record of downplaying the health risks of its products.

Note: For more on the close ties between Coca Cola and the government, read this revealing article. For more, see concise summaries of deeply revealing news articles on corruption in government and in the food system.

It’s still up for debate whether or not the media “created” Donald Trump - or, at least, the GOP presidential frontrunner version of him - but there is no doubt the billionaire reality TV star turned politician has meant big ratings - and income - for networks. Leslie Moonves, the chairman of CBS, admitted as much on Monday. “It may not be good for America, but it’s damn good for CBS,” Moonves said at a Morgan Stanley conference in San Francisco. In addition to around-the-clock TV news coverage of Trump and his fellow presidential candidates (but, mainly Trump), major broadcast and cable networks have pulled in record ratings for televised debates throughout this election cycle. Roughly 13.5 million tuned in to CBS for a GOP debate last month, making that one of the most-watched debates so far this year, as nearly 5 million more viewers tuned in to watch Trump battle his GOP rivals than did for a Democratic debate on CBS last November. Thanks to those high ratings, networks have reportedly been able to gouge advertisers for higher ad-rates during this cycle’s debates. Moonves indicated that he is more than happy to have Trump in the White House race if it means more advertising money.

Note: For more along these lines, see concise summaries of deeply revealing news articles about elections corruption and the manipulation of public perception.

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.