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.

Here’s what passes for funny in a room packed full of weapons-industry executives and lobbyists: When Vice Adm. Joseph Rixey — the man in charge of the Pentagon agency that administers foreign arms sales — said “I know you don’t go after human rights violators for potential customers.” The line produced chuckles in the room. Rixey was the guest of honor at a reception Wednesday hosted by the Senate Aerospace Caucus, a group of more than a dozen senators who “work to ensure a strong, secure, and competitive American aerospace sector.” The event ... was cohosted by the Aerospace Industries Association (AIA), the lobbying group for weapons contractors like Lockheed Martin, Boeing, Northrop Grumman, and Raytheon. Rixey is the director of the Defense Security Cooperation Agency (DSCA), the Pentagon agency charged with overseeing the Pentagon’s relations with the militaries of U.S. allies. Over the past year, the DSCA has approved upwards of $47 billion in such contracts, for weapons transfers to countries like Egypt, Israel, and Saudi Arabia. In his own remarks, Rixey lauded the relationship between the DSCA and industry. “We at DSCA are thankful that we have the support of our counterparts within the United States government and with defense industries,” he said. Rixey was joined by caucus co-chairs Sens. Jerry Moran, R-Kan., and Patty Murray, D-Wash., who praised the industry for its role in overseas weapons sales on both foreign policy and economic grounds.

Note: The Pentagon is the only segment of US government that doesn't balance its books, and Pentagon auditors are heavily pressured to look the other way on blatant corruption. For more along these lines, see concise summaries of deeply revealing military corruption news articles from reliable major media sources.

The sugar industry paid scientists in the 1960s to play down the link between sugar and heart disease and promote saturated fat as the culprit instead, newly released historical documents show. The internal sugar industry documents ... published Monday in JAMA Internal Medicine, suggest that five decades of research into the role of nutrition and heart disease, including many of today’s dietary recommendations, may have been largely shaped by the sugar industry. A trade group called the Sugar Research Foundation ... paid three Harvard scientists the equivalent of about $50,000 in today’s dollars to publish a 1967 review of research on sugar, fat and heart disease. The studies used in the review were handpicked by the sugar group, and the article, which was published in the prestigious New England Journal of Medicine, minimized the link between sugar and heart health and cast aspersions on the role of saturated fat. The food industry has continued to influence nutrition science. For many decades, health officials encouraged Americans to reduce their fat intake, which led many people to consume low-fat, high-sugar foods that some experts now blame for fueling the obesity crisis. Today, the saturated fat warnings remain a cornerstone of the government’s dietary guidelines, though in recent years the American Heart Association, the World Health Organization and other health authorities have also begun to warn that too much added sugar may increase cardiovascular disease risk.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in science and in the food system.

UCSF researchers believe they have uncovered a decades-old effort by the sugar industry to exonerate sugar as a dietary culprit for heart disease and shift the blame onto fat and cholesterol. In a paper published in Monday’s JAMA Internal Medicine, the researchers reveal a scheme in which the sugar industry’s main trade group paid two Harvard scientists to conduct a literature review in the mid-1960s that challenged emerging evidence linking sugar consumption to risk factors for cardiovascular disease. The Harvard scientists concluded there was “no doubt” that reducing dietary cholesterol and substituting polyunsaturated fat for saturated fat would prevent heart disease. Such recommendations helped persuade Americans to replace their butter with margarine and eat fat-free cookies and other sugar-laden treats. “We have been indoctrinated in this belief that if we don’t eat a low-fat diet, we’ll die of the No. 1 killer disease,” said co-author Laura Schmidt, professor of health policy at UCSF School of Medicine. “Now we’ve learned the sugar industry paid off Harvard to tell us that.” They showed that the Sugar Research Foundation, which is now known as the Sugar Association, paid Fredrick Stare and fellow faculty member D. Mark Hegsted the equivalent of about $50,000 in 2016 dollars to write a heavily critical review of studies that linked sucrose to heart disease. Their reviews were published in the prestigious New England Journal of Medicine in 1967.

Note: For more on how the sugar industry conspired against public health, see this Time magazine article. For even more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our Health Information Center.

Wells Fargo fired about 5,300 employees over the past several years for opening more than 2 million checking, savings, credit or debit card accounts without customers’ knowledge or consent. The big question: Why wasn’t Wells Fargo chief executive John Stumpf one of them? “It’s hard to believe that thousands of employees could have created over a million fake accounts without anyone in senior management knowing about it,” Sen. Elizabeth Warren, D-Mass., wrote in an emailed response. “It’s one or the other: Either individuals in senior management knew about this fraud and should be held personally accountable, or they didn’t know about it and a bank as big as Wells Fargo is simply too big to manage.” On Thursday, Wells settled a lawsuit and potential lawsuits by agreeing to clean up the mess, refund fees paid by customers on accounts they did not authorize and pay fines and penalties. Those included $100 million to the Consumer Financial Protection Bureau, $35 million to the Office of the Comptroller of the Currency and $50 million to the city and county of Los Angeles. FBR analyst Paul Miller called those fines “a rounding error” for Wells, which earns about $5 billion per quarter. Los Angeles City Attorney Mike Feuer opened an investigation into Wells after the Los Angeles Times reported in 2013 that ... “employees have opened unneeded accounts for customers, ordered credit cards without customers’ permission and forged client signatures on paperwork." His office filed a lawsuit against Wells Fargo in 2015.

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

Naloxone works by blocking the effect that painkillers and heroin have in the brain and reversing the slowed breathing and unconsciousness that come with an overdose. But as the demand for naloxone has risen - overdose deaths now total 130 every day, or roughly the capacity of a Boeing 737 - the drug’s price has soared. Not long ago, a dose of the decades-old generic drug cost little more than a dollar. Now the lowest available price is nearly 20 times that. In 2014, more than 47,000 Americans died from drug overdoses. That was 50% more deaths than from highway accidents ... and more overdose deaths than any year on record. The overdose crisis has its roots in the 1990s, when doctors began prescribing more and higher doses of painkillers [in response] to campaigns, often funded behind the scenes by drug makers, that urged doctors to prescribe the strongest painkillers not just to cancer patients and others in severe pain, but also to those with milder pain. The narcotic manufacturers’ funding of those campaigns ... came to light through evidence unearthed in lawsuits and investigative journalism reports. Since 1999, the amount of prescription opioids such as oxycodone, morphine and hydrocodone sold in the U.S. nearly quadrupled. During that same time, deaths from those drugs quadrupled. The lethal side effects of that booming prescription painkiller market has now sparked a moneymaking opportunity with naloxone.

Note: Tens of thousands of deaths are caused by prescription opioid overdose in the US each year. If Big Pharma sees this as an opportunity to profit, what does that say about the healthcare system?

It's the time of year when experts crunch the numbers to see how well the flu shot worked. The result? Better than last year, but still not good enough. "Just shy of 45 to 50 per cent," said Dr. Danuta Skowronski of the BC Centre for Disease Control, who presented the data to the Global Influenza Vaccine Effectiveness meeting at the World Health Organization last week. In 2014-15, the flu shot offered essentially zero protection against the circulating influenza virus of that season. Back then, the prevailing strain was H3N2. This year's main circulating virus was H1N1. Skowronski said the vaccine was ... disappointing. Experts used to believe the annual flu shot protection was much higher, around 70 to 90 per cent. But not anymore. Those early estimates were based on industry-funded clinical trials that were extrapolated to apply across all ages and flu seasons. "It was a blanket assumption that is simply not true," Skowronski said. That assumption changed dramatically, after Skowronski and colleagues developed a protocol that revealed the true picture of vaccine efficacy. It's called the test negative design (TND) first piloted in Canada in 2004. "The test negative design has opened our eyes to all kinds of variables that we were blind to for years," said Skowronski. Scientists also once again observed [that] people who get the shot with no prior vaccine exposure seem to have better protection than people who get the shot year after year.

Note: A National Institute of Health study found in 2007 that flu shots do not protect the elderly. More recent studies have shown that some flu shots actually increase the risk of infection. For more along these lines, see concise summaries of deeply revealing vaccine controversy news articles from reliable major media sources.

A delegation of independent scientists urged the EPA to ban RoundUp, Monsanto’s flagship herbicide. Providing testimony that it poses an unreasonable risk to humans, animals, and the environment, scientists spoke at a closed meeting with EPA [officials]. The scientists explained the physiological reasons why exposure to glyphosate, the active ingredient in RoundUp, is linked to autism, Alzheimer’s, cancer, birth defects, obesity, gluten intolerance, among other health issues. 300 million pounds of RoundUp are sprayed each year on corn, soy, sugar beets, canola, and weeds in the United States alone. $5 billion, or half Monsanto’s annual sales, comes from glyphosate-containing products. Dr. Stephen Frantz, Pathobiologist Research Scientist led the team. “When a cell is trying to form proteins, it may grab glyphosate instead of glycine to form a damaged, mis-folded protein. After that it’s medical chaos ... with many diseases and disorders as a result.” Moms Across America founder Zen Honeycutt was a participant at the meeting. Her son had been a casualty of processed foods, diagnosed with autism until his mother switched to an all-organic diet. “Mothers and caretakers are seeing their loved ones get sick on GMOs and glyphosate/herbicide sprayed foods and get better when they avoid them. Because glyphosate is contaminating our urine, water, breast milk and nearly all our foods, we are systematically causing sickness throughout America.”

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

The security firm that employed Orlando shooter Omar Mateen concluded that allegations about his inflammatory comments while an armed guard in 2013 were serious enough to transfer him to an unarmed position. But the company, G4S Secure Solutions USA Inc., dropped the matter [and] did not take away his company-issued service weapon. That decision, coupled with the fact that Mateen underwent three separate inquiries by the FBI in 2013 and 2014, raises questions about whether G4S - the U.S. subsidiary of one of the world's largest security firms - properly vetted Mateen in the years before Sunday's mass shooting at the Pulse nightclub. Former G4S security guard Daniel Gilroy ... complained repeatedly about Mateen to supervisors at G4S. They ignored his concerns. Ultimately, Gilroy said, he quit rather than have to face Mateen, who he said threatened him. [A company official] said G4S has so far found no evidence of any other employees making complaints about Mateen, including those who worked at the St. Lucie County Courthouse with him in 2013. FBI Director James Comey said earlier this week that colleagues said Mateen claimed to have family connections to terror groups al Qaeda and Hezbollah, and that he hoped law enforcement would raid his home "so he could martyr himself." Those remarks prompted courthouse officials to request Mateen's immediate removal from the St. Lucie County Courthouse, and to make "the appropriate notifications to inform our federal partners," including the FBI.

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

Atrazine [is] the second most commonly used herbicide in the United States. [It] is mainly used to control weeds in the corn blanketing much of the Midwest. The chemical also routinely turns up in streams and drinking water. And according to a new Environmental Protection Agency preliminary risk assessment, it may be doing serious harm to fish, animals, and amphibians, even at extremely low exposure levels. In the areas where it is most commonly used, mainly the Midwestern corn belt, atrazine turns up in the environment at rates that exceed established levels of concern "by as much as 22, 198, and 62 times for birds, mammals, and fish, respectively," the report concluded. The European Union banned atrazine in 2004, citing its potential to contaminate water and harm ecosystems. And this latest EPA report suggests the US government might also consider reining in use of the chemical. But probably not anytime soon. Back in 2011, the EPA released the final deliberations by a panel of independent scientists it had convened to address the topic. The panel found that atrazine had "suggestive evidence of carcinogenic potential" for ovarian cancer, non-Hodgkin's lymphoma, hairy-cell leukemia, and thyroid cancer. A recent paper by Texas A&M and Iowa State University researchers looked at research published since 2000 and concluded that "higher concentrations of atrazine in drinking water" have been associated with a variety of birth defects in people.

Note: With US regulators in its pocket, agrichemical giant Syngenta did everything in its power to discredit atrazine researcher Tyrone Hayes after Hayes published science proving that Syngenta's products were poisonous. The New Yorker published a detailed article on Syngenta's smear campaign. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and health.

Corey Feldman, who has opened up in the past about being molested by multiple Hollywood bigwigs, said he believes the problem of producer pedophiles is bigger today in age of social media. He’s also said one of his abusers is “still prominently in the business today.” Gabe Hoffman is the executive producer of “An Open Secret,” a 2015 documentary that investigated child molesters in Hollywood, and he echoed Feldman’s sentiments. "Young people, both boys and girls looking to work in Hollywood are at great risk from sexual predators,” he [said]. Psychologist Dr. Judith Zackson concurred. “The Internet is becoming an increasingly dangerous place for young, vulnerable stars,” she said. “Internet profiles provide an anonymous platform for pedophiles to study their victim’s personal information and patterns to assist in their ‘grooming’ process - pedophiles develop a relationship with their victims through enticing dialogue filled with promises that promote the young stars dream.” Pop culture expert Cate Meighan said the Internet lets abusers reach out to victims more easily. “Back in the ‘80s it really was quite different in that these people had to wait until child stars were brought into their circle to have access to them,” she said. “Now, they have the ability to hand pick potential targets and probably at a much younger age too.” Feldman has been vocal in the past regarding pedophilia in Hollywood. In 2011, he said it was “the number one problem in Hollywood” claiming it to be “the big secret” plaguing the industry.

Note: Don't miss the incredible film "An Open Secret" which follows five boys and their families who were gradually ensnared by a secret Hollywood pedophile ring which ruins their lives. It is available for free viewing on this webpage. The entire "Secret Societies in Hollywood" series is available here. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.

Elijah Wood called out child exploitation in Hollywood earlier this week. He later made it clear that he was not speaking from personal experience. But Corey Feldman wants people to know that he knows about Hollywood's child abuse problem firsthand. In an interview with the Hollywood Reporter, Feldman said he was molested as a child actor, and that his best friend Corey Haim was raped at the age of 11. He said that he has had to go through "a lot of therapy" to cope with his traumatic childhood; the actor said his molestations came "from several hands." "Ask anybody in our group of kids at that time: They were passing us back and forth to each other," said Feldman, adding that grown men in Hollywood would host parties and invite mostly kids aged 10 to 16 with just a few adults in the mix. "[Alison Arngrim] from 'Little House on the Prairie' said [in an interview], 'Everybody knew that the two Coreys were just being passed around.' Like it was something people joked about on studio lots." Feldman added that he still can't imagine what it was like for Haim to have been raped. "My son is 11 now, and I can't even begin to fathom the idea of something like that happening to him," he said. Feldman said that while he would love to name names, he was afraid to do so because of the legal conundrum it would inflict on him, but he said he has bumped into one of his molesters several times and has never confronted him.

Note: Don't miss the incredible film "An Open Secret" which follows five boys and their families who were gradually ensnared by a secret Hollywood pedophile ring which ruins their lives. It is available for free viewing on this webpage. The entire "Secret Societies in Hollywood" series is available here. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.

A Federal Energy Regulatory Commission judge has found that a division of Shell Oil engaged in fraud and market manipulation during California’s energy crisis, with company traders joking on tape about burning the evidence if they were ever caught. The tentative decision ... holds Shell and Spanish energy company Iberdrola liable for $1.1 billion in ill-gotten profits, money that could be refunded to Californians if the decision stands. It could end the last legal case over the expensive, long-term power purchase contracts that California signed under duress during the 2000-01 crisis. The state has already settled with all other companies accused of unjustly profiting from the long-term contracts, settlements worth a total of $7.7 billion. Officials are still pushing complaints against 13 companies involved in short-term contracts during the crisis, but have settled with others for a total of roughly $4 billion. The initial decision ... details Shell traders using schemes similar to those employed by Enron to drive up day-to-day power prices, which then increased the price California had to pay on its long-term contracts. As a result, Californians ended up overpaying Shell by $779 million and Iberdrola by $371 million. One scheme the judge cited, called “Ricochet” by Enron and more commonly known as “megawatt laundering,” involved buying electricity within California to ship to a destination outside of the state while simultaneously selling the same power back into the state’s market at a higher price.

Note: Read the text of tape recordings of Enron traders laughing at the misery they caused in California. For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.

A small core of super-rich individuals is responsible for the record sums cascading into the coffers of super PACs for the 2016 elections, a dynamic that harks back to the financing of presidential campaigns in the Gilded Age. Close to half the money - 41 percent - raised by the groups by the end of February came from just 50 mega-donors and their relatives, according to a Washington Post analysis. Donors this cycle have given more than $607 million to 2,300 super PACs, which can accept unlimited contributions from individuals and corporations. That means super PAC money is on track to surpass the $828 million that the Center for Responsive Politics found was raised by such groups for the 2012 elections. The top 50 contributors together donated $248 million personally and through their privately held companies, or more than $4 out of every $10 raised by all super PACs. The last time political wealth was so concentrated was in 1896, when corporations and banking moguls helped McKinley, the Republican candidate, outspend Democratic rival William Jennings Bryan. Populist anger over how presidential races were financed led to a 1907 ban on corporations donating to federal campaigns. Forty years later, Congress prohibited unions and corporations from making independent expenditures in federal races. The picture dramatically changed in 2010, when the Supreme Court said in Citizens United v. Federal Election Commission that corporations and unions could spend unlimited sums on politics.

Note: The "Koch Empire" alone plans to spend $889 million on US elections in 2016. For more along these lines, see concise summaries of deeply revealing news articles about elections corruption and the manipulation of public perception. Then explore the excellent, reliable resources provided in our Elections Information Center.

The top 50 U.S. companies have stored $1.4 trillion in tax havens, Oxfam America reported Thursday. Oxfam released its new report, “Broken at the Top,” ahead of Tax Day in the U.S. and shortly after of the Panama Papers leak to show the extent to which major corporations such as Pfizer, Walmart, Goldman Sachs, Alphabet, Disney and Coca-Cola keep money in offshore funds. The use of over 1,600 subsidiaries lowered their global tax rate on $4 trillion of profit to an average of 26.5%, compared to the statutory minimum of 35%, according to Oxfam. Additionally, for every dollar of taxes these companies paid, they collectively received $27 in federal loans, loan guarantees and bailouts - footed by American taxpayers. “The vast sums large companies stash in tax havens should be fighting poverty and rebuilding America’s infrastructure, not hidden offshore in Panama, Bahamas, or the Cayman Islands,” Oxfam America president Raymond Offenheiser said in a statement.

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

Robert Lustig is a paediatric endocrinologist at the University of California. A 90-minute talk he gave in 2009, titled Sugar: The Bitter Truth ... argues forcefully that fructose, a form of sugar ubiquitous in modern diets, is a “poison” culpable for America’s obesity epidemic. John Yudkin ... was a British professor of nutrition who had sounded the alarm on sugar back in 1972, in a book called Pure, White, and Deadly. “If only a small fraction of what we know about the effects of sugar were to be revealed in relation to any other material used as a food additive,” wrote Yudkin, “that material would promptly be banned.” The book did well, but Yudkin paid a high price for it. Prominent nutritionists combined with the food industry to destroy his reputation. The US government issued its first Dietary Guidelines [in 1980]. The most prominent recommendation ... was to cut back on saturated fats and cholesterol. Consumers dutifully obeyed. But instead of becoming healthier, we grew fatter and sicker. Look at a graph of postwar obesity rates and it becomes clear that something changed after 1980. Just 12% of Americans were obese in 1950, 15% in 1980, 35% by 2000. Today, as nutritionists struggle to comprehend a health disaster they did not predict and may have precipitated, the field is ... edging away from prohibitions on cholesterol and fat, and hardening its warnings on sugar. But its senior members still retain a collective instinct to malign those who challenge its tattered conventional wisdom too loudly.

Note: The sugar industry skewed US dental research using Big Tobacco's propaganda tactics. For more along these lines, see concise summaries of deeply revealing science corruption news articles from reliable major media sources.

Eleven million documents were leaked from one of the world's most secretive companies, Panamanian law firm Mossack Fonseca. They show how Mossack Fonseca has helped clients launder money, dodge sanctions and avoid tax. 12 current or former heads of state and at least 60 people linked to current or former world leaders [are included] in the data. They include the Icelandic Prime Minister, Sigmundur David Gunnlaugson, [as well as] reveal a suspected billion-dollar money laundering ring involving close associates of Russian President Vladimir Putin. 107 media organisations - including UK newspaper the Guardian - in 76 countries ... have been analysing the documents, [which] shed light on how Mossack Fonseca offered financial services designed to help business clients hide their wealth. One wealthy client, US millionaire ... Marianna Olszewski, was offered fake ownership records to hide money. This is in direct breach of international regulations designed to stop money-laundering and tax evasion. An email from a Mossack executive to Ms Olszewski in January 2009 explains how she could deceive the bank: "We may use a natural person who will act as the beneficial owner ... and therefore his name will be disclosed to the bank. Since this is a very sensitive matter, fees are quite high." The data also contain secret offshore companies linked to the families and associates of Egypt's former President, Hosni Mubarak, former Libyan leader Muammar Gaddafi and Syria's President Bashar al-Assad.

Note: There are conflicting reports on this release. Some like this NBC News article state there is a dearth of US names, while others like this USA Today article give US names. Explore evidence in this article that the Panama Papers may have been deliberately released with political objectives in mind. For more along these lines, see concise summaries of deeply revealing financial industry corruption news articles from reliable major media sources.

A trust called DE First Holdings was quietly formed in Delaware. A day later, the entity dropped $1 million into a super PAC. The trust, whose owner remains unknown, is part of a growing cadre of mystery outfits financing big-money super PACs. Many were formed just days or weeks before making six- or ­seven-figure contributions - an arrangement that ... violates a long-standing federal ban on straw donors. But the individuals behind the “ghost corporations” appear to face little risk of reprisal from [the] Federal Election Commission. The 2016 campaign has already seen the highest rate of corporate donations since the Supreme Court unleashed such spending with its 2010 Citizens United v. FEC decision. One out of every eight dollars collected by super PACs this election cycle have come from corporate coffers, including millions flowing from opaque and hard-to-trace entities. Such groups, which can accept unlimited donations ... are on track to far exceed the $86 million they gave to super PACs in the entire 2012 presidential cycle. A significant share of the money is coming from newly formed LLCs. Several campaign finance watchdog groups have filed complaints with the FEC against the recent pop-up LLCs, but the chances of the agency’s looking into the cases appear slim. Last month, the agency closed a nearly five-year-old complaint about a limited liability company allegedly used to mask a donor’s identity — unable to even agree whether it merited investigation.

Note: The "Koch Empire" alone plans to spend $889 million on US elections in 2016. For more along these lines, see concise summaries of deeply revealing news articles about elections corruption and the manipulation of public perception. Then explore the excellent, reliable resources provided in our Elections Information Center.

Dr. Nav Persaud, a family doctor in Toronto, asked and received thousands of pages of documents from Health Canada, and what he saw made him question the effectiveness of a popular morning sickness drug. But he can't talk about it, because Health Canada forced him to sign a confidentiality agreement, and threatened him with legal action if he makes the data public. Matthew Herder, [a] health law associate professor ... is calling on other doctors, researchers and journalists to bombard Ottawa with their own demands for drug industry data, using [a] new legislative lever written into ... the Protecting Canadians from Unsafe Drugs Act, which was passed late last year. Today, in the Canadian Medical Association Journal, Herder is urging Canadians to use the clause [to request] data that has long been protected by a wall of bureaucratic and corporate secrecy. The European Medicines Agency has started publishing all of the clinical reports submitted as part of drug marketing authorization applications - the same material Health Canada refuses to disclose. Almost half of the drug trials remain secret. [In the US], one group looked at 12 antidepressants, comparing the published studies with the internal FDA assessments. 94 per cent of the published studies were positive, compared to 51 per cent when they included all of the studies assessed by the FDA. The authors concluded that without seeing all the data, drug effectiveness can be exaggerated, leading doctors and patients to assume the medications work better than they do.

Note: For more along these lines, see concise summaries of deeply revealing news articles about government corruption and big pharma profiteering. Then read an in-depth essay titled "The Truth About Drug Companies" by acclaimed author Dr. Marcia Angell.

In May 2009 Congress created a special commission to examine the causes of the financial crisis. Some commission members sought to block consideration of any historical account that might support efforts to rein in runaway bankers. One ... wrote [that] it was important that what they said “not undermine the ability of the new House G.O.P. to modify or repeal Dodd-Frank,” the financial regulations introduced in 2010. Never mind what really happened; the party line, literally, required telling stories that would help Wall Street do it all over again. Which brings me to a new movie the enemies of financial regulation really, really don’t want you to see. “The Big Short” is based on the Michael Lewis book of the same name, one of the few real best-sellers to emerge from the financial crisis. It does a terrific job of making Wall Street skulduggery entertaining. Many influential, seemingly authoritative players, from Alan Greenspan on down, insisted not only that there was no bubble but that no bubble was even possible. And the bubble whose existence they denied really was inflated largely via opaque financial schemes that in many cases amounted to outright fraud - and it is an outrage that basically nobody ended up being punished for those sins aside from innocent bystanders, namely the millions of workers who lost their jobs and the millions of families that lost their homes. While the movie gets the essentials of the financial crisis right, the true story of what happened is deeply inconvenient to some very rich and powerful people.

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

Martin Shkreli ... gained notoriety in August when, as CEO of Turing Pharmaceuticals, he acquired a drug to treat parasitic infections, especially in pregnant women and AIDS patients, and proceeded to hike the price to from $13.50 to $750 per pill. He resigned from Turing Friday after being arrested on unrelated charges of securities fraud at a hedge fund. Shkreli was no doubt a first-class tool. But to focus exclusively on shaming Shkreli risks missing the larger problem, that the American health care system allows opportunists like him to [exploit] the lack of transparency on how drugs are priced in the United States. His price gouging was perfectly legal and even justified under the market-based system that underpins the health care industry. “There’s no law that he has to be ethical,” said [Dr. Jeffrey] Lobosky, author of It's Enough To Make You Sick. “His job is not to make drugs available and save patients. His responsibility is to make a profit for his shareholders.” On paper, Turing is a drug company, but it more closely resembles a private-equity firm: it buys undervalued assets - older drugs already approved by federal regulators - and makes money by charging more than what it paid. Many firms make drugs that are mere copies of others and offer no real therapeutic value, Lobosky said.

Note: The unrepentant profiteering of big pharma and financial industry corruption go hand-in-hand.

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.