Corporate Corruption News Articles

Excerpts of key news articles on

Below are key excerpts of revealing news articles on corporate corruption from reliable news media sources. If any link fails to function, a paywall blocks full access, or the article is no longer available, try these digital tools.

Note: Explore our full index to revealing excerpts of key major media news articles on dozens of engaging topics. And read excerpts from 20 of the most revealing news articles ever published.

A retired New York Supreme Court judge has claimed she was manhandled by a policeman after watching him beat a woman at the Zuccotti Park raids. Karen Smith was working as a legal observer when she saw a distressed woman pushed to the ground and beaten by an officer, she said. When she demanded he [stop], the unidentified cop pushed her against a wall and threatened her with arrest. Ms Smith had attended the raids ... to note down the names of people arrested as the Occupy Wall Street camp was cleared. She was wearing a fluorescent green baseball cap bearing the words 'National Lawyers Guild Legal Observer' to show she was not taking part in the protests. Ms Smith, who was also carrying a pad and pen, said the incident happened at around 1.30am on Tuesday at Dey Street and Broadway Street in New York City. Speaking to Democracy Now, she described the scene as ‘a paramilitary operation if there ever was one’. It was ‘what we call a stealth eviction’, she added. Ms Smith explained her son had participated in Occupy Wall Street and she had been ‘very concerned’ about his safety.

Note: We don't normally use the UK's Daily Mail as a reliable source, but as no other major media are reporting this story, we felt it warranted inclusion. The judge gives her own testimony in a video near the bottom of the article.

In the wake of an ABC News investigation into alleged unsanitary and inhumane practices at one of the nation's largest egg farms, animal rights activists are calling for an end to the egg industry's widespread use of so-called "battery cages," in which birds live six to a cage in long stacks of wire cages. "The battery cage system is inherently cruel," said Nathan Runkle of Mercy for Animals, who estimated that 95 percent of the hens used in egg production are kept in battery cages. He urged the industry to adopt more humane methods of egg production, and urged McDonald's, the nation's largest egg buyer, to stop buying eggs from battery cage farms. Undercover video shot by a Mercy for Animals activist who worked at one of the nation's largest egg producers, Sparboe Farms, shows the battery cages in use. "Scott," the activist who made the tape, said that the five to seven birds were kept in each cage, with their beaks cut at an early cage so they wouldn't peck each other, and that each bird lived its life in an area smaller than a standard sheet of paper. He said the birds "can't fully spread their wings, they can't walk around. There were [dead] birds that were left in the cages that were decomposing for weeks or months at a time," claimed Scott. Until the ABC News investigation and the FDA's warning, McDonald's drew all its eggs for restaurants west of the Mississippi River from Sparboe. Just before the ABC News report aired, McDonald's announced that it would no longer get its eggs from Sparboe Farms. Activists, however, are now asking why McDonald's won't stop buying eggs from any producer that uses battery cages.

Note: To watch a video of this sad scene, click here. To learn how this report resulted in both McDonald's and Target canceling their contracts with Sparboe Farms, click here.

After an increase of only 3% in the second half of 2010, total notional amounts outstanding of over-the-counter (OTC) derivatives rose by 18% in the first half of 2011, reaching $708 trillion by the end of June 2011.

Note: The Bank for International Settlements (BIS) is an intergovernmental organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks." It is not accountable to any national government. Their accounting shows a total global derivatives market controlled by the banks of over $700 trillion. That's $100,000 for every man, woman, and child on the planet. As reported in Reuters, the derivatives market is largely unregulated. Do you think there is any manipulation going on here? BIS helps the bankers to work together to keep their hidden power.

Over the last year, the Obama administration has aggressively pushed a $433-million plan to buy an experimental smallpox drug, despite uncertainty over whether it is needed or will work. Senior officials have taken unusual steps to secure the contract for New York-based Siga Technologies Inc., whose controlling shareholder is billionaire Ronald O. Perelman, one of the world's richest men. Siga ... was the only company asked to submit a proposal. The contract calls for Siga to deliver 1.7 million doses of the drug for the nation's biodefense stockpile. The price of approximately $255 per dose is well above what the government's specialists had earlier said was reasonable. Once feared for its grotesque pustules and 30% death rate, smallpox was eradicated worldwide as of 1978 and is known to exist only in the locked freezers of a Russian scientific institute and the U.S. government. There is no credible evidence that any other country or a terrorist group possesses smallpox. If there were an attack, the government could draw on $1 billion worth of smallpox vaccine it already owns to inoculate the entire U.S. population and quickly treat people exposed to the virus. The vaccine, which costs the government $3 per dose, can reliably prevent death when given within four days of exposure.

Note: This is pure and blatant corruption to pad the pockers of Siga and those involved. For key reports from reliable sources on government corruption, click here. For more on corrupt drug companies, click here.

Citigroup had to pay a $285 million fine to settle a case in which, with one hand, Citibank sold a package of toxic mortgage-backed securities to unsuspecting customers — securities that it knew were likely to go bust — and, with the other hand, shorted the same securities — that is, bet millions of dollars that they would go bust. It doesn’t get any more immoral than this. James Stewart, a business columnist for The [New York] Times, noted that Citigroup’s flimflam made “Goldman Sachs mortgage traders look like Boy Scouts.” This gets to the core of why all the anti-Wall Street groups around the globe are resonating. Our financial industry has grown so large and rich it has corrupted our real institutions through political donations. Our Congress today is a forum for legalized bribery. One consumer group using information from Opensecrets.org calculates that the financial services industry, including real estate, spent $2.3 billion on federal campaign contributions from 1990 to 2010, which was more than the health care, energy, defense, agriculture and transportation industries combined. Why are there 61 members on the House Committee on Financial Services? So many congressmen want to be in a position to sell votes to Wall Street.

Note: For lots more from major media sources on the collusion between financial interests and government, click here.

A former lobbyist who was a rising star under Jack Abramoff’s tutelage was sentenced ... to nearly two years in prison for giving public officials meals and event tickets. Kevin Ring argued up until his emotional sentencing hearing that he was operating in a corrupt Washington environment controlled by people with money and that he did not break the law. U.S. District [Judge] Ellen Segal Huvelle said Ring’s conduct was not nearly as egregious as ringleader Abramoff or some of the others involved in a scandal that resulted in stricter lobbying rules in Washington. But the judge gave Ring a sentence of 20 months, one of the stiffest terms among the 21 defendants in the investigation. Most others involved cooperated with prosecutors and got plea deals that avoided prison. Huvelle said she did not consider Ring’s conduct [nearly as] bad as that of Abramoff and his business partner, Michael Scanlon, who bilked their American Indian tribal clients out of $20 million in fees, or former Rep. Bob Ney, who accepted golf and gambling trips, tickets to sporting events, free meals and campaign donations. But Abramoff, Scanlon and Ney all reached plea agreements with prosecutors that helped cut their sentences while Ring fought at trial. His sentence ranks with theirs — Abramoff got 48 months, Ney 30 months and Scanlon also was sentenced to 20 months.

Note: A petty thief steals three times for a total value of a few thousand dollars and by the "three strikes" law ends up in jail for life. Abramoff, along with his assistants, successfully corrupt U.S. Senators and Congress members and serve less than four years in jail. Many get off with no jail time. Is the US justice system biased towards the rich?

Critics of the growing Occupy Wall Street movement complain that the protesters don’t have a policy agenda and, therefore, don’t stand for anything. They're wrong. The key isn’t what protesters are for but rather what they’re against -- the gaping inequality that has poisoned our economy, our politics and our nation. In America today, 400 people have more wealth than the bottom 150 million combined. That’s not because 150 million Americans are pathetically lazy or even unlucky. In fact, Americans have been working harder than ever -- productivity has risen in the last several decades. Big business profits and CEO bonuses have also gone up. Worker salaries, however, have declined. Most of the Occupy Wall Street protesters [want] an end to the crony capitalist system now in place, that makes it easier for the rich and powerful to get even more rich and powerful while making it increasingly hard for the rest of us to get by. The question is not how Occupy Wall Street protesters can find that gross discrepancy immoral. The question is why every one of us isn’t protesting with them. According to polls, most Americans support the 99% movement, even if they’re not taking to the streets.

Note: For lots more on the reasons why people all over the world are occupying their city centers, check out our "Banking Bailout" news articles.

The Occupy Wall Street movement has the potential to turn into a political firestorm. We have become so divided as a nation that it is very difficult to prognosticate if anything good will come out of these protests from a political perspective. Let’s examine a number of issues that have been raised by Occupy Wall Street, the Tea Party and liberals and libertarians and see where there is agreement. Get Corporate Money Out Of Politics – This is the issue that really kick started Occupy Wall Street. Americans are sick and tired of mega-corporations and Wall Street banks being in bed with our politicians in Washington D.C. End the Federal Reserve – The Federal Reserve is directly responsible for the Too Big To Fail banking cartel, the U.S. debt, the perpetual deficits, and ... the Fed has also robbed the poor and working class blind as a result of their inflationary policies. End The Wars – The American people are fed up with these conflicts, and even large percentages of the military believe that the wars in both Iraq and Afghanistan were not worth fighting in the first place. It is time for our troops to come home. End The Drug War - The drug war is an absolute failed policy. The U.S. incarcerates a higher percentage of its population than any country on Earth, yet we call ourselves “The Home of the Free.” Repeal The Patriot Act – The assault on our civil liberties in the wake of 9/11 has been swift and draconian. These are the types of things that go on in totalitarian states, and now, apparently the United States as well.

Note: For lots more from major media sources on the reasons why people worldwide are occupying the financial centers of their cities, check out our "Banking Bailout" news articles.

Britain's tax authorities have given Goldman Sachs an unusual and generous Christmas present, leaked documents reveal. In a secret London meeting last December with the head of Revenue, the wealthy Wall Street banking firm was forgiven Ł10m interest on a failed tax avoidance scheme. HM Revenue and Customs sources admit privately that the interest-free deal is "a cock-up" by officials, but refuse to say who was responsible. Documents leaked to Private Eye magazine and published in full by the Guardian record that Britain's top tax official, HMRC's permanent secretary Dave Hartnett, personally shook hands on a secret settlement last December. Hartnett also refused to give the facts about Goldman Sachs to MP Jesse Norman on the Treasury committee last month, claiming disclosure would be illegal. He also refuses to brief ministers on the details. The Ł10m Christmas gift for Goldman was the culmination of a prolonged attempt by the US firm to avoid paying national insurance on huge bonuses for its bankers working in London. The sum was pocket change to Goldman, whose employees received $15.3bn (Ł9.5bn) in pay and bonuses last year.

Note: For lots more from reliable sources on corporate and government corruption, click here and here.

The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night. Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put Ł75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession. Economists said the Bank’s decision to resume its quantitative easing [QE] showed it was increasingly fearful for the economy, and predicted more such moves ahead. Sir Mervyn said the Bank had been driven by growing signs of a global economic disaster. “This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.” Announcing its decision, the Bank said that the eurozone debt crisis was creating “severe strains in bank funding markets and financial markets”. Financial experts said the committee’s actions would be a “Titanic” disaster for pensioners, savers and workers approaching retirement. Under QE, the Bank electronically creates new money which it then uses to buy assets such as government bonds, or gilts, from banks. By increasing the demand for gilts, QE pushes down the interest rate yields paid to holders of these and other bonds. Critics of the policy say it pushes up inflation and drives down sterling.

Note: For lots more on the global financial crisis from reliable sources, click here.

Tony Blair used visits to Libya after he left office to lobby for business for the American investment bank JP Morgan. New questions over Tony Blair's ties to Col Muammar Gaddafi and his role in the release of the Lockerbie bomber have emerged from documents discovered in Tripoli. A senior executive with the Libyan Investment Authority, the $70 billion fund used to invest the country's oil money abroad, said Mr Blair was one of three prominent western businessmen who regularly dealt with Saif al-Islam Gaddafi, son of the former leader. Saif al-Islam and his close aides oversaw the activities of the fund, and often directed its officials on where they should make its investments, he said. The executive, speaking on condition of anonymity, said officials were told the "ideas" they were ordered to pursue came from Mr Blair as well as one other British businessman and a former American diplomat. "Tony Blair's visits were purely lobby visits for banking deals with JP Morgan," he said. Documents found by The Sunday Telegraph published this weekend showed Mr Blair had made at least three visits to Tripoli, twice in the lead-up to the release of the alleged Lockerbie bomber Abdelbaset Ali Megrahi in 2008 and 2009 and once last year. On the first two occasions he was flown to the country on planes arranged by Col Gaddafi.

Note: For a two-page summary of US Marine Corps General Smedley Butler's explanation of the profiteering behind modern wars, click here. For key reports on corporate and government corruption from major media sources, click here and here.

The triple meltdown and its aftermath at the Fukushima nuclear power plant [have] elevated Japan into unknown, and unknowable, terrain. Across the northeast, millions of people are living with its consequences and searching for a consensus on a safe radiation level that does not exist. Experts give bewilderingly different assessments of its dangers. Some scientists say Fukushima is worse than the 1986 Chernobyl accident, with which it shares a maximum level-7 rating on the sliding scale of nuclear disasters. Chris Busby, a professor at the University of Ulster ... said the disaster would result in more than 1 million deaths. "Fukushima is still boiling its radionuclides all over Japan," he said. "Chernobyl went up in one go. So Fukushima is worse." Slowly, steadily, and often well behind the curve, the government has worsened its prognosis of the disaster. Last Friday, scientists affiliated with the Nuclear and Industrial Safety Agency said the plant had released 15,000 terabecquerels of cancer-causing Cesium, equivalent to about 168 times the 1945 atomic bombing of Hiroshima, the event that ushered in the nuclear age. [But] Professor Busby says the release is at least 72,000 times worse than Hiroshima.

Note: For key reports on corporate and government corruption from major media sources, click here and here.

It is one of the mysteries of Japan's ongoing nuclear crisis: How much damage did the 11 March earthquake inflict on the Fukushima Daiichi reactors before the tsunami hit? The stakes are high: if the earthquake structurally compromised the plant and the safety of its nuclear fuel, then every similar reactor in Japan may have to be shut down. Throughout the months of lies and misinformation, one story has stuck: it was the earthquake that knocked out the plant's electric power, halting cooling to its six reactors. The tsunami then washed out the plant's back-up generators 40 minutes later, shutting down all cooling and starting the chain of events that would cause the world's first triple meltdown. But what if recirculation pipes and cooling pipes burst after the earthquake – before the tidal wave reached the facilities; before the electricity went out? This would surprise few people familiar with the 40-year-old reactor one, the grandfather of the nuclear reactors still operating in Japan. Problems with the fractured, deteriorating, poorly repaired pipes and the cooling system had been pointed out for years. In September 2002, Tepco admitted covering up data about cracks in critical circulation pipes.

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

US-based pharmaceutical giant Pfizer has made the first compensation payment to Nigerian families affected by a controversial drug trial 15 years ago. It paid $175,000 (Ł108,000) each to four families in the first of a series of payments it is expected to make. The payouts are part of an out-of-court settlement reached in 2009. In 1996, 11 children died and dozens were left disabled after Pfizer gave them the experimental anti-meningitis drug, Trovan. The payouts were made to the parents of four of the children who died. Their parents told the BBC they welcomed the payment, but it would not replace the loss of their loved ones. The children were part of a group of 200 given the drug during a meningitis epidemic in the northern city of Kano as part of a medical trial comparing Trovan's effectiveness with the established treatment. For years Pfizer maintained that meningitis - not the drug - caused the deaths and disabilities. But after a lengthy and expensive litigation process, it reached a settlement with the Kano government in northern Nigeria. The trials were carried out in Kano and the state government fought Pfizer on behalf of victims and their families. It has taken two years and DNA tests to establish who is entitled to payments, the BBC's Jonah Fisher in Lagos says. It could take another year for payments to be concluded, he says. Pfizer also agreed to sponsor health projects in Kano as well as creating a fund of $35m to compensate those affected.

Note: A BMJ article about this case states, "The families allege that the company failed to tell them that their children were being enrolled in an experimental drug trial and that free, effective treatment was available ... at the same hospital. Five children in the trovafloxacin arm and six in the ceftriaxone arm died, according to Pfizer." For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.

Doctors have treated only three leukemia patients, but the sensational results from a single shot could be one of the most significant advances in cancer research in decades. Doctors at the University of Pennsylvania say the treatment made the most common type of leukemia completely disappear in two of the patients and reduced it by 70 percent in the third. In each of the patients as much as five pounds of cancerous tissue completely melted away in a few weeks, and a year later it is still gone. The results of the preliminary test “exceeded our wildest expectations,” says immunologist Dr. Carl June a member of the Abramson Cancer Center's research team. Chemotherapy and radiation can hold this form of leukemia at bay for years, but until now the only cure has been a bone marrow transplant. A bone marrow transplant requires a suitable match, works only about half the time, and often brings on severe, life-threatening side effects such as pain and infection. So why has this remarkable treatment been tried so far on only three patients? Both the National Cancer Institute and several pharmaceutical companies declined to pay for the research. Neither applicants nor funders discuss the reasons an application is turned down.

Note: For key reports from reliable sources on hopeful new cancer treatments, click here.

David Cameron flew abroad last night for a long-arranged trip to Africa leaving behind the carnage inside Britain's most important police force, tumult inside the news organisation with which he has closest links, and open disdain from his deputy prime minister, Nick Clegg, over his appointment of Andy Coulson to No 10. The "firestorm" he himself described is still raging, and as the body count rises in the form of arrests or resignations, he looks increasingly exposed. Every day as the crisis continues, his judgment, and that of the chancellor, George Osborne, in appointing the former editor of the News of the World Andy Coulson as his director of communications looks increasingly inexplicable. The problems Cameron faces come from all directions. There is no evidence that the Conservative party either in the Home Office or in the London mayoralty of Boris Johnson took seriously the suggestion, repeatedly raised by Labour, that the connections between News International and the Met were unhealthy. Thirdly, the record of meetings between Cameron and News International executives released on Friday does not reveal a modernising prime minister governing in the national interest, but a victim of a vested interest. His meetings with News International executives in a year exceed those with all other news organisations put together. Not a single figure from the BBC was granted an audience.

Note: For key reports from major media sources on corporate and government corruption, click here and here.

Britain’s top police official resigned on [July 17], the latest casualty of the phone-hacking scandal engulfing British public life, just hours after Rebekah Brooks, the former chief executive of Rupert Murdoch’s News International, was arrested on suspicion of illegally intercepting phone calls and bribing the police. The official, Sir Paul Stephenson, commissioner of the Metropolitan Police Service, commonly known as the Met or Scotland Yard, said that he had decided to step down [but] that he had done nothing wrong and that he would not “lose sleep over my personal integrity.” The commissioner’s resignation came as the London political establishment was still digesting the stunning news about the arrest of Ms. Brooks — who apparently was surprised herself. A consummate networker who has always been assiduously courted by politicians and whose friends include Prime Minister David Cameron, Ms. Brooks, 43, is the 10th and by far the most powerful person to be arrested so far in the phone-hacking scandal. The arrest was a shock to the News Corporation, the parent company of News International, and the other properties in Mr. Murdoch’s media empire, which is reeling from the traumas of last week: the forced withdrawal of its cherished $12 billion takeover bid for British Sky Broadcasting and the resignations not only of Ms. Brooks but also of Les Hinton, a longtime Murdoch ally and friend who was the chairman of Dow Jones and the publisher of The Wall Street Journal.

Note: For lots more on media and government corruption click here and here.

Police are investigating evidence that a News International executive may have deleted millions of emails from an internal archive in an apparent attempt to obstruct Scotland Yard's inquiry into the phone-hacking scandal. The archive is believed to have reached back to January 2005, revealing daily contact between News of the World editors, reporters and outsiders, including private investigators. A senior executive is believed to have deleted "massive quantities" of the archive on two separate occasions, leaving only a fraction to be disclosed. The allegation directly contradicts NI claims that it is co-operating fully with police in order to expose its history of illegal newsgathering. Rupert Murdoch is planning to fly into London on [July 9] to confront the crisis. The scandal brought a number of arrests on [July 8], with the prime minister's former PR chief Andy Coulson held under suspicion of involvement in phone hacking. As he was released on bail, he told reporters: "There is an awful lot I would like to say, but I can't at this time." Clive Goodman, the NoW's former royal reporter, was also arrested in relation to the alleged payment of bribes to police, and subsequently bailed.

Note: For lots more on corporate corruption from reliable sources, click here.

Two companies incorporated at a little house in Cheyenne, Wyoming, won Pentagon contracts after their owner took advantage of the state's liberal incorporation laws to create the firms using an alias, and then represented them as minority-owned to win favorable treatment as a military supplier. The firms and their owner were later banned from doing business with the Pentagon for providing knock-off parts. A Reuters investigation has found that more than 2,000 companies are registered at 2710 Thomes Avenue in Cheyenne, the headquarters for Wyoming Corporate Services, a business incorporation company that specializes in corporate anonymity. A Reuters review of federal contracting databases found nine firms registered at 2710 Thomes Avenue have been awarded 93 contracts worth more than $1.6 million by a half dozen government agencies, including the U.S. Department of Defense, the U.S. Treasury's Internal Revenue Service, the Centers for Disease Control, and the Department of Veterans Affairs. More than 90 percent of the contracts were awarded by the Department of Defense. The companies were created by Atilla C. Kan, an employee of another Pentagon supplier called New York Machinery. Kan formed the companies in Wyoming under the name John Ryan. He later used the alias, and a description of the companies as "minority-owned," "woman-owned" and "Hispanic-owned," when applying to supply military parts, the documents show.

Note: For more on this showing a vast level of corruption, click here and watch the Reuters video available here. For a powerful and deep analysis by David Wilcock on this important topic, which he calls the ultimate ponzi scheme, click here.

The secretive business havens of Cyprus and the Cayman Islands face a potent rival: Cheyenne, Wyoming. At a single address in this sleepy city of 60,000 people, more than 2,000 companies are registered. The building, 2710 Thomes Avenue, isn't a shimmering skyscraper filled with A-list corporations. It's a 1,700-square-foot brick house with a manicured lawn, a few blocks from the State Capitol. A Reuters investigation has found the house at 2710 Thomes Avenue serves as a little Cayman Island on the Great Plains. It is the headquarters for Wyoming Corporate Services, a business-incorporation specialist that establishes firms which can be used as "shell" companies, paper entities able to hide assets. Wyoming Corporate Services will help clients create a company, and more: set up a bank account for it; add a lawyer as a corporate director to invoke attorney-client privilege; even appoint stand-in directors and officers as high as CEO. Among its offerings is a variety of shell known as a "shelf" company, which comes with years of regulatory filings behind it, lending a greater feeling of solidity. All the activity at 2710 Thomes is part of a little-noticed industry in the U.S.: the mass production of paper businesses. Scores of mass incorporators like Wyoming Corporate Services have set up shop.

Note: For lots more from reliable sources on corporate corruption, click here.

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.