Corporate Corruption News Stories

Excerpts of Key Corporate Corruption News Stories in Major Media

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: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.

The ascension of Mario Monti to the Italian prime ministership is remarkable for more reasons than it is possible to count. By imposing rule by unelected technocrats, [Italy] has suspended the normal rules of democracy, and maybe democracy itself. And by putting a senior adviser at Goldman Sachs in charge of a Western nation, it has taken to new heights the political power of an investment bank that you might have thought was prohibitively politically toxic. The European Central Bank ... is under ex-Goldman management, and the investment bank's alumni hold sway in the corridors of power in almost every European nation, as they have done in the US throughout the financial crisis. Even before the upheaval in Italy, there was no sign of Goldman Sachs living down its nickname as "the Vampire Squid", and now that its tentacles reach to the top of the eurozone, sceptical voices are raising questions over its influence. Simon Johnson, the former International Monetary Fund economist, in his book 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, argued that Goldman Sachs and the other large banks had become so close to government in the run-up to the financial crisis that the US was effectively an oligarchy. At least European politicians aren't "bought and paid for" by corporations, as in the US, he says. "Instead what you have in Europe is a shared world-view among the policy elite and the bankers, a shared set of goals and mutual reinforcement of illusions." This is The Goldman Sachs Project. Put simply, it is to hug governments close.

Note: For revealing major media articles on key secret societies which manipulate global politics, click here. For deeply revealing reports from reliable major media sources on financial corruption, click here.

Ministers from the world's richest nations are reportedly on the way to agreeing [to] a deal for troubled eurozone countries. But one independent market trader - Alessio Rastani - told the BBC the plan "won't work" and that people should be trying to make money from a market crash. Trader Alessio Rastani: I'm fairly confident the Euro is going to crash, and it's going to fall pretty hard because markets are ruled right now by fear. Investors and the big money, the smart money ... don't buy this rescue plan. They know the stock market is finished. They don't really care. They're moving their money away to safer assets like treasury bonds, 30-year bonds, and the U.S. dollar. For most traders, we don’t really care that much how they're going to fix the economy. Our job is to make money from it. And personally, I’ve been dreaming of this moment for three years. I go to bed every night [and] I dream of another recession. When the market crashes … if you have the right plan set up, you can make a lot of money from this. Be prepared, and act now. The biggest risk people can take right now is not acting. This economic crisis is like a cancer. In less than 12 months, my prediction is that the savings of millions people is going to vanish, and this is just the beginning. This is not a time right now for wishful thinking that governments are going to sort things out. The governments don’t rule the world, Goldman Sachs rules the world.

Note: Part of the text above is not listed in the text at the link above, but in the BBC video on that page. The video is a must watch for one expert's important view on an impending future economic collapse. For lots more excellent information showing the incredible power of Goldman Sachs and more on this important topic, click here. For deeply revealing reports from reliable major media sources on financial corruption, click here.

Are unmanned aircraft, known to have difficulty avoiding collisions, safe to use in America's crowded airspace? And would their widespread use for surveillance result in unconstitutional invasions of privacy? Experts say neither question has been answered satisfactorily. Yet the federal government is rushing to open America's skies to tens of thousands of the drones - pushed to do so by a law championed by manufacturers of the unmanned aircraft. The 60-member House of Representatives' "drone caucus" - officially, the House Unmanned Systems Caucus - has helped push that agenda. And over the last four years, caucus members have drawn nearly $8 million in drone-related campaign contributions. Domestic use of drones began with limited aerial patrols of the nation's borders by Customs and Border Patrol authorities. But the industry and its allies pushed for more, leading to provisions in the FAA Modernization and Reform Act, signed into law on Feb. 14 of this year. The law requires the FAA to fully integrate the unmanned aerial vehicles into national airspace by September 2015. The FAA has predicted that 30,000 drones could be flying in the United States in less than 20 years. House members from California, Texas, Virginia and New York on the bipartisan "drone caucus" received the lion's share of the funds channeled to lawmakers from dozens of firms that are members of the Association for Unmanned Vehicle Systems International.

Note: For deeply revealing reports from reliable major media sources on drone killings and other war crimes committed by the US in its wars of aggression in the Middle East, Asia and Africa, click here.

A scathing new report released [on November 28] details how high-level political interference and institutional failures thwarted efforts to probe the 2010 collapse of Afghanistan’s largest bank, recover hundreds of millions of dollars from fraudulent loans and prosecute the influential Afghans who profited from a massive scheme to use depositors’ money as a private piggy bank. Without naming names, an independent anti-corruption committee of Afghan and international experts painted a damning portrait of foot-dragging, incompetence and blatant political manipulation involving virtually every agency that was supposed to either investigate why the Kabul Bank failed or take legal action against those responsible for looting it of more than $900 million. “Kabul Bank was nothing but a fraud perpetrated against depositors, and ultimately all Afghans,” the report says. Both the flagrant crimes and the repeated failures to pursue them, it said, reflect an array of larger, worrisome problems that permeate Afghan society and institutions, including “incapacity, nepotism, entitlement and political interference.” Over and over, the report says, supposedly independent bodies such as the attorney general’s office deferred to higher political wishes. Earlier this year, about 20 bank associates were indicted on charges including money laundering and using false documents or fictitious account names. The report quotes sources as saying that a “high-level committee,” meaning a group of powerful officials, decided which former bank associates would be charged with a crime and that prosecutors were told to “construct indictments to conform to the decisions.”

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

When it comes to corruption in Afghanistan, the time may be now for the United States to look in the mirror and see what lessons can be learned from contracting out parts of that war. On Sept. 30, Afghan President Hamid Karzai told CBS’s “60 Minutes” that the corruption wracking his government and its people has been at a level “not ever before seen in Afghanistan.” In the 1980s, when the Soviets ran the country, the government was “not even 5 percent as corrupt,” Karzai said. “The Soviets didn’t give contracts to the relatives, brothers and the kin of the influential and high ups,” he said. “The Americans did, and they continue to do, but we get blamed for it.” The record shows Karzai has a point with which others agree. “It is time that we as Americans — in government, in the media, and as analysts and academics — took a hard look at the causes of corruption in Afghanistan. The fact is that we are at least as much to blame for what has happened as the Afghans, and we have been grindingly slow to either admit our efforts or correct them.” That was written in September 2010 by Anthony H. Cordesman ... in a Center for Strategic and International Studies report, "How America Corrupted Afghanistan." He particularly criticized the military contracting process, saying, “The bulk of the money actually spent inside Afghanistan went through poorly supervised military contracts and through aid projects where the emphasis was speed, projected starts, and measuring progress in terms of spending rather than results. U.S. and foreign contractors poured money into a limited number of Afghan powerbrokers who set up companies that were corrupt and did not perform."

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

Tobacco companies have been ordered by a federal judge to publicly admit, through advertisements and package warnings, that they deceived American consumers for decades about the dangers of smoking. Federal Judge Gladys Kessler issued her ruling [on November 27] in one of the last legal steps settling liability in the long-running government prosecution of cigarette makers. "By ensuring that consumers know that [tobacco companies] have misled the public in the past on the issue of secondhand smoke in addition to putting forth the fact that a scientific consensus on this subject exists," said Kessler, "defendants will be less likely to attempt to argue in the future that such a consensus does not exist." Several other lawsuits over cigarette labeling are pending in federal court, part of a two-decade federal and state effort to force tobacco companies to limit their advertising, and settle billions of dollars in state and private class-action claims over the health dangers of smoking. The judge, six years ago, concluded that tobacco companies were guilty of racketeering, and had ordered them to put tougher warning labels and other language in their marketing.

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

The system of so-called "shadow banking" ... grew to a new high of $67 trillion globally last year, a top regulatory group said, calling for tighter control of the sector. A report by the Financial Stability Board (FSB) [states] that shadow banking is set to thrive, beyond the reach of a regulatory net tightening around traditional banks and banking activities. The FSB, a task force from the world's top 20 economies, also called for greater regulatory control of shadow banking. The study by the FSB said shadow banking around the world more than doubled to $62 trillion in the five years to 2007 before the crisis struck. But the size of the total system had grown to $67 trillion in 2011 — more than the total economic output of all the countries in the study. The multitrillion-dollar activities of hedge funds and private equity companies are often cited as examples of shadow banking. But the term also covers investment funds, money market funds and even cash-rich firms that lend government bonds to banks, which in turn use them as security when taking credit from the European Central Bank. The United States had the largest shadow banking system, said the FSB, with assets of $23 trillion in 2011, followed by the euro area — with $22 trillion — and the United Kingdom — at $9 trillion.

Note: That's $10,000 for every man, woman, and child on the planet. Do you think the bankers are somehow manipulating the system? For deeply revealing reports from reliable major media sources on financial corruption, click here.

Move over, adulterous generals. It might be time to make way for a new sexual rats' nest – at America's top financial police agency, the SEC. In a salacious 77-page complaint ... David Weber, the former chief investigator for the SEC Inspector General's office, accuses the SEC of retaliating against Weber for coming forward as a whistleblower. According to this lawsuit, Weber was made a target of [retaliation] after he came forward with concerns that his bosses may have been spending more time copulating than they were investigating the SEC. Weber claims that in recent years, while the SEC Inspector General's office has been attempting to investigate the agency's seemingly-negligent responses in such matters as the Bernie Madoff case and the less-well-known (but nearly as disturbing) Stanford Financial Ponzi scandal, two of the IG office's senior officials – former Inspector General David Kotz and his successor, Noelle Maloney – were sleeping together. Weber also claims that Kotz was also having an affair with a lawyer representing a key group of Stanford victims, a Dr. Gaytri Kachroo. Weber claims that Maloney last year refused to meet with Kachroo as part of the Stanford investigation. By then, Kotz had stepped down as SEC IG and Maloney had replaced him as Acting IG. Weber was fired on October 31st. Apparently he has decided not to take the firing quietly. "When David Weber began to uncover the depth of dysfunction at the SEC, they fired him," his attorney Cary Hansel said. "He has no intention of being silenced by threats and false allegations."

Note: We don't normally use Rolling Stone as a source, but this important story has not been covered elsewhere in the major media.

Britain’s biggest bank is at the centre of a major ... investigation after it opened offshore accounts in Jersey for serious criminals living in this country. Tax authorities have obtained details of every British client of HSBC in Jersey after a whistleblower secretly provided a detailed list of names, addresses and account balances earlier this week. Among those identified on the list are Daniel Bayes, a drug dealer who is now in Venezuela; Michael Lee, who was convicted of possessing more than 300 weapons at his house in Devon; three bankers facing major fraud allegations and a man once dubbed London’s “number two computer crook”. The disclosures raise serious questions about HSBC’s procedures in Jersey, with the bank already preparing to pay fines of around $1.5 billion in America for breaking money laundering rules. The bank is legally obliged to report to the authorities any suspicions about the source of money deposited in its accounts. The list identifies 4,388 people holding Ł699 million in offshore current accounts and they are also likely to have billions of pounds more in investment schemes. Several celebrities and other well-known figures are understood to be identified in the client data. The HSBC Jersey client list is understood to be heavily dominated by senior figures in the City. Dozens of bankers are understood to have deposited six-figure sums offshore with some institutions said to have “clusters” of employees taking advantage of the accounts. Doctors, mining and oil executives and oil workers are also heavily represented in the list.

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

October's record-setting jump in gasoline prices cost Californians $320 million, and yet state officials lack some of the basic information needed to ensure that refineries aren't playing games with the fuel market. That was the testimony [on November 15] at a hearing that explored the causes of the price spike, which saw the state's average price for a gallon of regular reach $4.67. The hearing could lead to legislation. With its own specialized gasoline blends made by just a handful of refineries, California has long been prone to price spikes. But four of the most severe on record happened in 2012. The October price spike began after an electrical outage suddenly shut down an ExxonMobil refinery in Los Angeles County. Fuel supplies in California had already been strained by the Aug. 6 fire at Chevron Corp.'s Richmond refinery, as well as the closure of a crude-oil pipeline in the Central Valley. Severin Borenstein, director of the University of California Energy Institute in Berkeley, noted that the state's reliance on just a few refining companies gives those businesses significant power over the market, even if they don't conspire to raise prices. No pipelines connect California to refineries in the Midwest or on the Gulf Coast, leading many analysts to label the state an "energy island." "Unfortunately, we've created a situation in the California market where because we're an island and because it's pretty concentrated, we actually do have companies that are in a pretty strong position to raise prices by putting less (gas) on the market. There is no law against them doing that," [Borenstein said].

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

It's a revolting spectacle: the two presidential candidates engaged in a frantic and demeaning scramble for money. By 6 November, Barack Obama and Mitt Romney will each have raised more than $1bn. Other groups have already spent a further billion. Every election costs more than the one before; every election, as a result, drags the United States deeper into cronyism and corruption. Is it conceivable, for instance, that Romney, whose top five donors are all Wall Street banks, would put the financial sector back in its cage? Or that Obama, who has received $700,000 from both Microsoft and Google, would challenge their monopolistic powers? Or, in the Senate, that the leading climate change denier James Inhofe, whose biggest donors are fossil fuel companies, could change his views, even when confronted by an overwhelming weight of evidence? The US feeding frenzy shows how the safeguards and structures of a nominal democracy can remain in place while the system they define mutates into plutocracy. Despite perpetual attempts to reform it, US campaign finance is now more corrupt and corrupting than it has been for decades. It is hard to see how it can be redeemed. If the corporate cronies and billionaires' bootlickers who currently hold office were to vote to change the system, they'd commit political suicide. We should see this system as a ghastly warning of what happens if a nation fails to purge the big money from politics.

Note: For deeply revealing reports from reliable major media sources on the corruption of the US electoral system, click here.

Spire Law Group's national home owners' lawsuit [is] the largest money laundering and racketeering lawsuit in United States history, identifying $43 trillion of laundered money. [In] the federal lawsuit now [pending] in the United States District Court in Brooklyn, New York ... plaintiffs now establish the location of the $43 trillion of laundered money in a racketeering enterprise. [The] mass tort action [seeks] to halt all foreclosures nationwide pending the return of the $43 trillion, an audit of the Fed and audits of all the "bailout programs." The epicenter of this laundering and racketeering enterprise has been and continues to be Wall Street and continues to involve the very "Banksters" located there who have repeatedly asked in the past to be "bailed out" and to be "bailed out" in the future. The Havens for the money laundering schemes ... are located in such venues as Switzerland, the Isle of Man, Luxembourg, Malaysia, Cypress and [other entities] identified in both the United Nations and the U.S. Senate's recent reports on international money laundering. The case further alleges that through these obscure foreign companies, Bank of America, J.P. Morgan, Wells Fargo Bank, Citibank, Citigroup, One West Bank, and numerous other federally chartered banks stole trillions of dollars of home owners' and taxpayers' money during the last decade and then laundered it through offshore companies.

Note: CNBC also reported this astonishing news. Yet within hours the original page for the article was taken down, and CNBC senior vice president Kevin Krim received news that his children were killed under very suspicious circumstances. Could this have been a strong warning? For more in this, click here. For deeply revealing reports from reliable major media sources on financial corruption, click here.

The Occupy movement received vindication from an unlikely source tonight, as a senior executive at the Bank of England credited it with stirring a “reformation of finance”. Andrew Haldane, executive director of financial stability, said Occupy protesters had been “both loud and persuasive”, and had attracted public support because “they are right”. “Some have suggested … that Occupy’s voice has been loud but vague, long on problems, short on solutions. Others have argued that the fault-lines in the global financial system, which chasmed during the crisis, are essentially unaltered, that reform has failed,” Mr Haldane said. “I wish to argue that both are wrong – that Occupy’s voice has been both loud and persuasive and that policymakers have listened and are acting in ways which will close those fault-lines. In fact, I want to argue that we are in the early stages of a reformation of finance, a reformation which Occupy has helped stir.” Speaking at an Occupy Economics event in central London, Mr Haldane said that Occupy had been “successful in its efforts to popularise the problems of the global financial system for one very simple reason: they are right.” He added that protesters ... “touched a moral nerve in pointing to growing inequities in the allocation of wealth”. Mr Haldane ended with a direct appeal to activists to continue putting pressure on governments and regulators. He said: “You have put the arguments. You have helped win the debate. And policymakers, like me, will need your continuing support in delivering that radical change.”

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

A jury has ordered an $85m compensation payout by the American military contractor Kellogg Brown and Root ... after finding it guilty of negligence for illnesses suffered by a dozen soldiers who guarded an oilfield water plant during the Iraq war. KBR was ordered to pay $6.2m to each of the soldiers in punitive damages and $850,000 in non-economic damages. During the Iraq war KBR was the engineering and construction arm of Halliburton, the biggest US contractor during the conflict. KBR split from Halliburton in April 2007. The US lawsuit was the first concerning American soldiers' exposure to a toxin at a water plant in southern Iraq. The soldiers have said they suffer from respiratory ailments after their exposure to sodium dichromate and fear that a carcinogen it contains – hexavalent chromium – could cause cancer later in life. The contractor's defence ultimately rested on the fact that it informed the US army of the risks of exposure to sodium dichromate. KBR was tasked with reconstructing the decrepit, scavenged plant just after the March 2003 invasion while troops from the US national guard defended the area. Bags of unguarded sodium dichromate – a corrosive substance used to keep pipes at the water plant free of rust – were ripped open, allowing the substance to spread across the plant and into the air. When KBR was still part of Halliburton it won a large share of Pentagon contracts to build and manage US military bases in Iraq after the 2003 invasion. Its former chief executive, Dick Cheney, was US vice-president.

BILL MOYERS: Why do some of the most powerful and privileged people in the country get a free lunch you pay for? You'll find some of the answers [in]: Free Lunch: How the Wealthiest Americans Enrich Themselves at Government Expense (and Stick You with the Bill). The theme of the book as I read it is that not that the rich are getting richer but that they've got the government rigging the rules to help them do it. DAVID CAY JOHNSTON: That's exactly right. And they're doing it in a way that I think is very crucial for people to understand. They're doing it by taking from those with less to give to those with more. We gave $100 million dollars to Warren Buffett's company last year, a gift from the taxpayers. We make gifts all over the place to rich people. Donald Trump benefits from a tax specifically levied by the State of New Jersey for the poor. Part of the casino winnings tax in New Jersey is dedicated to help the poor. But $89 million of it is being diverted to subsidize Donald Trump's casino's building retail space. George Steinbrenner, like almost every owner of a major sports franchise, gets enormous public subsidies. The major sports franchises [make] 100 percent of their profits from subsidies. In fact, if it weren't for these subsidies, the baseball, football, hockey, and basketball enterprises as a whole would be losing hundreds of millions of dollars a year. George Bush owes almost his entire fortune to a tax increase that was funneled into his pocket and into the use of eminent domain laws to essentially legally cheat other people out of their land for less than it was worth to enrich him and his fellow investors.

Note: Watch part of this amazingly revealing interview online at this link. Johnston is a prolific writer with the NY Times; to see a list of his many articles there, click here. For deeply revealing reports from reliable major media sources on financial corruption, click here.

One could slash private debt by 100pc of GDP, boost growth, stabilize prices, and dethrone bankers all at the same time. It could be done cleanly and painlessly, by legislative command, far more quickly than anybody imagined. The conjuring trick is to replace our system of private bank-created money -- roughly 97pc of the money supply -- with state-created money. Specifically, it means an assault on "fractional reserve banking". If lenders are forced to put up 100pc reserve backing for deposits, they lose the exorbitant privilege of creating money out of thin air. The nation regains sovereign control over the money supply. There are no more bank runs, and fewer boom-bust credit cycles. That at least is the argument [in] the IMF study, by Jaromir Benes and Michael Kumhof, which came out in August and has begun to acquire a cult following around the world. Entitled "The Chicago Plan Revisited", it revives the scheme first put forward by professors Henry Simons and Irving Fisher in 1936 during the ferment of creative thinking in the late Depression. Benes and Kumhof argue that credit-cycle trauma - caused by private money creation - dates deep into history. The original authors of the Chicago Plan were responding to the Great Depression. They believed it was possible to prevent the social havoc caused by wild swings from boom to bust, and to do so without crimping economic dynamism. The benign side-effect of their proposals would be a switch from national debt to national surplus.

Note: This article is an incredible breakthrough in real reporting on the banking sector. It is most highly recommended to read the entire article and then explore our powerful Banking Corruption Information Center.

It's becoming clear that we can grow all the food we need, and profitably, with far fewer chemicals. Conventional agriculture can shed much of its chemical use - if it wants to. What may be the most important agricultural study this year ... was done on land owned by Iowa State University called the Marsden Farm. On 22 acres of it, beginning in 2003, researchers set up three plots: one replicated the typical Midwestern cycle of planting corn one year and then soybeans the next, along with its routine mix of chemicals. On another, they planted a three-year cycle that included oats; the third plot added a four-year cycle and alfalfa. The longer rotations also integrated the raising of livestock, whose manure was used as fertilizer. The results were stunning: The longer rotations produced better yields of both corn and soy, reduced the need for nitrogen fertilizer and herbicides by up to 88 percent, reduced the amounts of toxins in groundwater 200-fold and didn't reduce profits by a single cent. In short, there was only upside - and no downside at all - associated with the longer rotations. There was an increase in labor costs, but remember that profits were stable. So this is a matter of paying people for their knowledge and smart work instead of paying chemical companies for poisons. And it's a high-stakes game; according to the Environmental Protection Agency, about five billion pounds of pesticides are used each year in the United States.

Thinking about going through your medicine cabinet and throwing out all your expired prescriptions? That might not be necessary, according to a UCSF-led study. Researchers analyzed eight prescription drugs with 15 active ingredients that expired between 28 and 40 years ago and found that most remained just as potent as they were on the day they were made. In 12 of the 14 drug compounds, or 86 percent of the time, the amount of active ingredient present in the drugs was at least 90 percent of the amount indicated on the label. That's well within the "reasonable variation" allowed by the U.S. Food and Drug Administration of 90 percent to 110 percent. Only two compounds - aspirin and the stimulant amphetamine - fell below the 90 percent threshold. Another medication, the painkiller phenacetin, fell below the threshold in one sample but was found in levels greater than 90 percent in another. The study was published online last week in the Archives of Internal Medicine.

Note: A drug listed expired as 40 years ago is still just as potent as the day it was made. Could short expiration dates be an example of drug companies finding a way to make more money through unnecessary disposal of older medications?

They knew which factories to burn, which bridges to blow up, which cargo ships could be sunk in good conscience. They had pothole counts for roads used for invasion and head counts for city blocks marked for incineration. They weren't just secret agents. They were secret insurance agents. These undercover underwriters gave their World War II spymasters access to a global industry that both bankrolled and, ultimately, helped bring down Adolf Hitler's Third Reich. Newly declassified U.S. intelligence files tell the remarkable story of the ultra-secret Insurance Intelligence Unit, a component of the Office of Strategic Services, a forerunner of the CIA, and its elite counterintelligence branch X-2. Though rarely numbering more than a half dozen agents, the unit gathered intelligence on the enemy's insurance industry, Nazi insurance titans and suspected collaborators in the insurance business. But, more significantly, the unit mined standard insurance records for blueprints of bomb plants, timetables of tide changes and thousands of other details about targets, from a brewery in Bangkok to a candy company in Bergedorf. "They used insurance information as a weapon of war," said Greg Bradsher, a historian and National Archives expert on the declassified records. That insurance information was critical to Allied strategists, who were seeking to cripple the enemy's industrial base and batter morale by burning cities.

California’s Proposition 37, which would require that genetically modified (G.M.) foods carry a label, has the potential ... to change the politics of food not just in California but nationally too. Genetically modified foods don’t offer the eater any benefits whatsoever — only a potential, as yet undetermined risk. Monsanto and its allies have fought the labeling of genetically modified food ... vigorously since 1992, when the industry managed to persuade the [F.D.A.] — over the objection of its own scientists — that the new crops were “substantially equivalent” to the old and so did not need to be labeled, much less regulated. The F.D.A. policy was co-written by a lawyer whose former firm worked for Monsanto. More than 60 other countries have seen fit to label genetically modified food, including those in the European Union, Japan, Russia and China. Monsanto and DuPont, the two leading merchants of genetically modified seed, have invested more than $12 million to defeat Prop 37. Americans have been eating genetically engineered food for 18 years, and as supporters of the technology are quick to point out, we don’t seem to be dropping like flies. But they miss the point. The fight over labeling G.M. food is not foremost about food safety or environmental harm, legitimate though these questions are. The fight is about the power of Big Food. Monsanto has become the symbol of everything people dislike about industrial agriculture: corporate control of the regulatory process; lack of transparency (for consumers) and lack of choice (for farmers); an intensifying rain of pesticides; and the monopolization of seeds, which is to say, of the genetic resources on which all of humanity depends.

Note: To learn more about the revolving door between Monsanto and the FDA, click here. To read about many suppressed scientific studies which showed the GM foods were often harmful and sometimes even lethal to a variety of lab animals, click here. To watch a powerful video showing clearly how Monsanto has attacked those who will not use their GM seeds, click here.

Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.