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.

Early next year, Julian Assange says, a major American bank will suddenly find itself turned inside out. Tens of thousands of its internal documents will be exposed on Wikileaks.org. The data dump will lay bare the finance firm’s secrets on the Web for every customer, every competitor, every regulator to examine and pass judgment on. When? Which bank? What documents? Cagey as always, Assange won’t say. He compares what he is ready to unleash to the damning e-mails that poured out of the Enron trial: a comprehensive vivisection of corporate bad behavior. “You could call it the ecosystem of corruption,” he says, refusing to characterize the coming release in more detail. Does Assange have unpublished, damaging documents on pharmaceutical companies? Yes, he says. Finance? Yes, many more than the single bank scandal we’ve been discussing. Energy? Plenty, on everything from BP to an Albanian oil firm that he says attempted to sabotage its competitors’ wells. Like informational IEDs, these damaging revelations can be detonated at will. Long gone are the days when Daniel Ellsberg had to photocopy thousands of Vietnam War documents to leak the Pentagon Papers. Modern whistleblowers ... can zip up their troves of incriminating documents on a laptop, USB stick or portable hard drive, spirit them out through personal e-mail accounts or online drop sites—or simply submit them directly to WikiLeaks.

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

Forbes made Monsanto the company of the year last year in "The Planet Versus Monsanto." I know because I wrote the article. Since then everything that could have gone wrong for the genetically engineered seed company has gone wrong. Super-weeds that are resistant to its RoundUp weed killer are emerging, even as weed killer sales are being hit by cheap Chinese generics. An expensive new bioengineered corn seed with eight new genes does not look impressive in its first harvest. And the Justice Department is invesigating over antitrust issues. All this has led to massive share declines. Other publications are making fun of our cover story. Monsanto is destined to remain the dominant bioengineered seed company for some time to come. But unless it comes up with a hot new product, its growth years could all be behind it.

Note: WantToKnow.info's Fred Burks was blacklisted by Monsanto, likely for reporting stories like that above. For more on this, click here.

The nation’s workers may be struggling, but American companies just had their best quarter ever. American businesses earned profits at an annual rate of $1.659 trillion in the third quarter, according to a Commerce Department report. That is the highest figure recorded since the government began keeping track over 60 years ago. The next-highest annual corporate profits level on record was in the third quarter of 2006, when they were $1.655 trillion. Corporate profits have been doing extremely well for a while. Since their cyclical low in the fourth quarter of 2008, profits have grown for seven consecutive quarters, at some of the fastest rates in history. As a share of gross domestic product, corporate profits also have been increasing, and they now represent 11.2 percent of total output. That is the highest share since the fourth quarter of 2006, when they accounted for 11.7 percent of output.

Note: Long-term unemployment is at a record high, yet corporations are raking in record profits. With record profits, why aren't corporations hiring more new employees? For many reports from reliable souces on corporate profiteering, click here.

The class war that no one wants to talk about continues unabated. Even as millions of out-of-work and otherwise struggling Americans are tightening their belts for the holidays, the nation’s elite are lacing up their dancing shoes and partying like royalty as the millions and billions keep rolling in. Recessions are for the little people, not for the corporate chiefs and the titans of Wall Street who are at the heart of the American aristocracy. They have waged economic warfare against everybody else and are winning big time. The ranks of the poor may be swelling and families forced out of their foreclosed homes may be enduring a nightmarish holiday season, but American companies have just experienced their most profitable quarter ever. The corporate fat cats are becoming alarmingly rotund. Their profits have surged over the past seven quarters at a pace that is among the fastest ever seen, and they can barely contain their glee. On the same day that The Times ran its article about [record corporate] profits, it ran a piece on the front page that carried the headline: “With a Swagger, Wallets Out, Wall Street Dares to Celebrate.” Anyone who thinks there is something beneficial in this vast disconnect between the fortunes of the American elite and those of the struggling masses is just silly. It’s not even good for the elite. The rich may think that the public won’t ever turn against them. But to hold that belief, you have to ignore the turbulent history of the 1930s.

Note: For many reports from reliable souces on corporate profiteering, click here.

A growing pilot and passenger revolt over full-body scans and what many consider intrusive pat-downs couldn't have come at a worse time for the nation's air travel system. Thanksgiving, the busiest travel time of the year, is less than two weeks away. Grassroots groups are urging travelers to either not fly or to protest by opting out of the full-body scanners and undergo time-consuming pat-downs instead. Some pilots, passengers and flight attendants have chosen to opt out of the revealing scans. One online group, National Opt Out Day calls for a day of protest against the scanners on Wednesday, November 24, the busiest travel day of the year. Another group argues the TSA should remove the scanners from all airports. The Electronic Privacy Information Center (EPIC)... is taking legal action. Pilots' unions for US Airways and American Airlines are urging their members to avoid full-body scanning at airport security checkpoints, citing health risks and concerns about intrusiveness and security officer behavior. "Pilots should NOT submit to AIT (Advanced Imaging Technology) screening," wrote Capt. Mike Cleary, president of the U.S. Airline Pilots Association. "Frequent exposure to TSA-operated scanner devices may subject pilots to significant health risks," Cleary wrote. The website We Won't Fly urgers travelers to "Act now. Travel with Dignity."

Note: For a powerful, one-minute video showing just how invasive these searches are, click here.

The Department of Health is putting the fast food companies McDonald's and KFC and processed food and drink manufacturers such as PepsiCo, Kellogg's, Unilever, Mars and Diageo at the heart of writing government policy on obesity, alcohol and diet-related disease. In an overhaul of public health, said by [critics] to be the equivalent of handing smoking policy over to the tobacco industry, health secretary Andrew Lansley has set up five "responsibility deal" networks with business, co-chaired by ministers, to come up with policies. The groups are dominated by food and alcohol industry members, who have been invited to suggest measures to tackle public health crises. The alcohol responsibility deal network is chaired by the head of the lobby group the Wine and Spirit Trade Association. The food network to tackle diet and health problems includes processed food manufacturers, fast food companies, and Compass, the catering company. The food deal's sub-group on calories is chaired by PepsiCo, owner of Walkers crisps. The leading supermarkets are an equally strong presence. In early meetings, these commercial partners have been invited to draft priorities and identify barriers, such as EU legislation, that they would like removed. They have been assured by Lansley that he wants to explore voluntary not regulatory approaches, and to support them in removing obstacles.

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

About 48 of the more than 1,730 California doctors who received money from pharmaceutical companies over the past 21 months have been the subject of disciplinary action, a database compiled by the investigative news organization ProPublica found. While that represents less than 3 percent of the California doctors who take pharmaceutical money, the fact that drug companies are paying those doctors - some of whom have multiple disciplinary actions - for their expertise calls into question how closely these companies vet the physicians who serve as the spokespeople for their drugs. California doctors have received $28.6 million from top pharmaceutical companies since 2009, with at least three physicians collecting more than $200,000 and 36 others making more than $100,000 for promoting drug firm products. That cash flowing from drug companies to doctors has raised ethical concerns from some observers. "If they're getting as much money from pharmaceutical companies as they do for being a doctor, what are they really? Are they working for a pharmaceutical company, or are they being a doctor?" asked Lisa Bero, a pharmacy professor at UCSF who studies conflicts of interest in medicine and research.

Note: For a detailed analysis of corruption in the pharmaceutical industry by a highly-respected doctor, click here.

Two of the largest pilots' unions in the nation are urging commercial pilots to rebel against current airport screening rules. In late October, the Transport Security Administration implemented more invasive patdown rules. Travelers and pilots were faced with a new dilemma -- have a revealing, full-body scan or what some are calling an X-rated patdown. Pilots are piping mad over the options, saying the full-body scanners emit dangerous levels of radiation and that the alternative public patdown is disgraceful for a pilot in uniform. Some pilots have said they felt so violated after a patdown, they were unfit to fly. The patdowns, implemented Oct. 29, allow TSA officers to pat down passengers with the front of their hands, instead of the backs of their hands. A security expert who demonstrated the new procedure on a mannequin for ABC News explained the changes. "You go down the body and up to the breast portion," said Charles Slepian of the Foreseeable Risk Analysis Center. "If it's a female passenger, you're going to see if there's anything in the bra." The new patdown protocol could be used at any of the nation's 450 airports on passengers who require additional screening. Tens of thousands of passengers are submitted to patdowns and full-body scanners every day. More than 300 full-body scanners are being used at 65 airports across the country.

Note: And what about the general public having to submit to being groped?

Somebody owes us $20 trillion. "Inside Job," a riveting, eye-opening, infuriating documentary about the financial collapse of 2008, coolly presents a prosecutor's brief against the culprits who engineered the greatest economic crisis since the Great Depression. They occupy both sides of the legislative aisle, corporate boardrooms, Ivy League faculty lounges and bank headquarters. They made money – sometimes obscene amounts of it – while rigging a monetary meltdown that left middle-class taxpayers holding the bag, and thousands of less-fortunate former homeowners holding cardboard signs beside freeway on-ramps. This is no dry economics lesson; it is a vital wakeup call. The presentation is articulate and rigorously factual, presented in six chapters, from "How We Got There" to "Accountability." The financial earthquake was not only entirely avoidable, but was utterly predictable given the steady erosion of scrutiny of financial markets here and abroad. Reducing state monitoring under the Reagan administration set the stage for the savings-and-loan crisis and the collapse of the junk-bond market. But that was a luau compared with what lay ahead. Successive administrations, Democratic and Republican alike, heeded advisers pushing for further deregulation, leading to WorldCom, Enron, the dot-com bubble and the 2008 panic. Many of those laissez-faire advocates were prominent academics receiving sizable consulting fees to testify in antitrust cases and in Congress on Wall Street's behalf.

Note: For lots more from reliable sources on the long history of criminal and corrupt practices of major financial powers and regulatory bodies, click here.

GlaxoSmithKline, the British drug giant, has agreed to pay $750 million to settle criminal and civil complaints that the company for years knowingly sold contaminated baby ointment and an ineffective antidepressant – the latest in a growing number of whistle-blower lawsuits that drug makers have settled with multimillion-dollar fines. Altogether, GlaxoSmithKline sold 20 drugs with questionable safety that were made at a huge plant in Puerto Rico that for years was rife with contamination. Cheryl D. Eckard, the company's quality manager, asserted in her whistle-blower suit that she had warned Glaxo of the problems but the company fired her instead of addressing them. Among the drugs affected were Paxil, an antidepressant; Bactroban, an ointment; Avandia, a troubled diabetes drug; Coreg, a heart drug; and Tagamet, an acid reflux drug. Justice Department officials announced the settlement in a news conference Tuesday afternoon in Boston, saying a $150 million payment to settle criminal charges was the largest such payment ever by a manufacturer of adulterated drugs. The outcome also provides $600 million in civil penalties. The share to the whistle-blower will be $96 million, one of the highest such awards in a health care fraud case.

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

In a rare move, the Justice Department on Tuesday announced that it had charged a former vice president and top lawyer for the British drug giant GlaxoSmithKline with making false statements and obstructing a federal investigation into illegal marketing of the antidepressant Wellbutrin for weight loss. "This is absolutely precedent-setting – this is really going to set people's hair on fire," said Douglas B. Farquhar, a Washington lawyer. "This is indicative of the F.D.A. and Justice strategy to go after the very top-ranking managing officials at regulated companies." The indictment accuses the Glaxo official, Lauren C. Stevens of Durham, N.C., of lying to the Food and Drug Administration in 2003, by writing letters, as associate general counsel, denying that doctors speaking at company events had promoted Wellbutrin for uses not approved by the agency. Ms. Stevens "made false statements and withheld documents she recognized as incriminating," including slides the F.D.A. had sought during its investigation, the indictment stated. The company was cooperating fully with a federal investigation into allegations of illegal sales and marketing of Wellbutrin. Last year, it set aside $400 million to resolve the case, which is still pending. Two weeks ago, in an unrelated case, GlaxoSmithKline agreed to pay $750 million to the government to settle civil and criminal complaints that it sold tainted or ineffective products from a large manufacturing facility in Puerto Rico.

Note: Even with fines in the hundreds of millions of dollars assessed to many of the large pharmaceuticals, why isn't more being done? See what one of the top doctors in the US revealed about corruption in health care at this link.

Novartis AG plans to seek regulatory approval within 18 months for a pioneering tablet containing an embedded microchip, bringing the concept of "smart-pill" technology a step closer. The initial program will use one of the Swiss firm's established drugs taken by transplant patients to avoid organ rejection. But Trevor Mundel, global head of development, believes the concept can be applied to many other pills. Novartis agreed in January to spend $24 million to secure access to chip-in-a-pill technology developed by privately owned Proteus Biomedical of Redwood City, California, putting it ahead of rivals. The biotech start-up's ingestible chips are activated by stomach acid and send information to a small patch worn on the patient's skin, which can transmit data to a smartphone or send it over the Internet to a doctor. Because the tiny chips are added to existing drugs, Novartis does not expect to have to conduct full-scale clinical trials to prove the new products work. Instead, it aims to do so-called bioequivalence tests to show they are the same as the original. A bigger issue may be what checks should be put in place to protect patients' personal medical data as it is transmitted from inside their bodies by wireless and Bluetooth.

Note: It's interesting that Fox News was the only major media to pick up this revealing Reuters story. This article seriously underplays the privacy concerns raised by this new corporate strategy. For more on this, click here. For many key reports on corporate and governmental threats to privacy, click here. For more on the dangers of microchips from reliable sources, click here.

The Food and Drug Administration has wrapped up three days of hearings and public comment on the effort by AquaBounty Technologies, a Massachusetts company, to sell salmon genetically engineered to grow twice as fast as normal salmon. But the meetings ended without an FDA decision on whether the company can move ahead with sales. USA TODAY's Elizabeth Weise [answers questions about the issue]: Q: What are the issues? A: There are really two: Are these fish safe to eat, and are they safe for the environment? FDA staff, in a report released earlier this month, found the genetically engineered (or GE) salmon to be as safe to eat as normal salmon. But several members of the agency's Veterinary Medicine Advisory Committee felt that the tests for food safety could have included more data and encouraged the agency to request more from the company. Q: What's the environmental issue? A: Some scientists and environmental groups worry that if these fast-growing salmon escaped into the ocean, they might out-compete native salmon populations for both food and mates. As almost all wild Atlantic salmon are endangered, anything that could harm them is of concern.

Note: For lots more from reliable sources on corporate and government corruption, click here and here. For a highly-informative overview of the threats posesd to health and the environment by genetically modified foods, click here.

South Africa's largest private medical group has pleaded guilty to performing illegal kidney transplant operations at one of its hospitals. The medical group Netcare admitted that children were recruited to donate their organs, and said the hospital had wrongly profited from the operations. The charges related to more than 100 operations carried out at the hospital in Durban between 2001 and 2003. Poor donors, often from Brazil, were flown in and given thousands of dollars to have a kidney removed. These were then given to those in need, who were often wealthy Israelis. Several of those directly involved pleaded guilty at the time, but Netcare - which runs more than 50 hospitals in South Africa - had until now refused to accept responsibility. Things began to change when prosecutors brought charges against Netcare's chief executive and the company made a plea bargain. In return for those charges being dropped, Netcare accepted that some of its employees had known that the kidney donors and recipients had not been related. It acknowledged that "payments must have been made to the donors for their kidneys, and that certain of the kidney donors were minors at the time that their kidneys were removed. Certain employees participated in these illegalities, and (the hospital) wrongly benefited from the proceeds."

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

Few ecological disasters have been as confounding as the massive and devastating die-off of the world's honeybees. The phenomenon of Colony Collapse Disorder (CCD) -- in which disoriented honeybees die far from their hives -- has kept scientists, beekeepers, and regulators desperately seeking the cause. The long list of possible suspects has included pests, viruses, fungi, and also pesticides, particularly so-called neonicotinoids, a class of neurotoxins that kills insects by attacking their nervous systems. For years, their leading manufacturer, Bayer Crop Science, a subsidiary of the German pharmaceutical giant Bayer AG (BAYRY), has tangled with regulators and fended off lawsuits from angry beekeepers who allege that the pesticides have disoriented and ultimately killed their bees. A cheer must have gone up at Bayer on Thursday when a front-page New York Times article, under the headline "Scientists and Soldiers Solve a Bee Mystery," described how a newly released study pinpoints a different cause for the die-off: "a fungus tag-teaming with a virus." The Bayer pesticides, however, go unmentioned. What the Times article did not explore -- nor did the study disclose -- was the relationship between the study's lead author, Montana bee researcher Dr. Jerry Bromenshenk, and Bayer Crop Science. In recent years Bromenshenk has received a significant research grant from Bayer to study bee pollination.

Note: Read the full, revealing article to learn how money often corrupts science. For lots more from reliable sources on corporate corruption, click here.

If the idea of turning consumers into true cyborgs sounds creepy, don't tell Intel researchers. Intel's Pittsburgh lab aims to develop brain implants that can control all sorts of gadgets directly via brain waves by 2020. The scientists anticipate that consumers will adapt quickly to the idea, and indeed crave the freedom of not requiring a keyboard, mouse, or remote control for surfing the Web or changing channels. They also predict that people will tire of multi-touch devices such as ... iPhones. Turning brain waves into real-world tech action still requires some heavy decoding of brain activity. The Intel team has already made use of MRI brain scans to match brain patterns with similar thoughts across many test subjects. Plenty of other researchers have also tinkered in this area. Toyota recently demoed a wheelchair controlled with brainwaves, and University of Utah researchers have created a wireless brain transmitter that allows monkeys to control robotic arms. There are still more implications to creating a seamless brain interface, besides having more cyborgs running around. If scientists can translate brain waves into specific actions, there's no reason they could not create a virtual world with a full spectrum of activity tied to those brain waves. That's right -- we're seeing Matrix creep.

HIV tests detect footprints, never the animal itself. These footprints, antibodies ... were limited to two in 1984 ... but over the years expanded to include many proteins previously not associated with HIV. A majority of HIV-positive tests, when retested, come back indeterminate or negative. In many cases, different results emerge from the same blood tested in different labs. There are currently at least eleven different criteria for how many and what proteins at which band density signal positive. The most stringent criteria (four bands) are upheld in Australia and France; the least stringent (two bands), in Africa, where an HIV test is not even required as part of an AIDS diagnosis. Africa ... has become ground zero of the AIDS epidemic. The clinical definition of AIDS in Africa, however, is stunningly broad and generic, and was seemingly designed to be little other than a signal for funding. The Bangui definition of AIDS ... requires neither a positive HIV test nor a low T-cell count, as in the West, but only the presence of chronic diarrhea, fever, significant weight loss, and asthenia. These happen to be the symptoms of chronic malnutrition, malaria, parasitic infections, and other common African illnesses. The statistical picture of AIDS in Africa, consequently, is a communal projection based on very rough estimates ... extrapolated across the continent using computer models and highly questionable assumptions. More than 2,300 people, mostly scientists and doctors, including Nobelists in chemistry and medicine, have signed the petition of the Group for the Scientific Reappraisal of the HIV-AIDS Hypothesis, which calls for a more independent and skeptical approach to the question of AIDS causality.

Note: If you want to be educated about the details of how rampant corruption has become in the medical research industry, read this well researched article. For a concise description of unbridled corruption in the health care industry by one of the most respected doctors in the world, click here.

Joyce Ann Hafford died without ever holding the son she had tried to save from contracting AIDS by taking an experimental drug regimen administered by government-funded researchers during her pregnancy. But even before her stunned family could grieve, the 33-year-old's death was reverberating among the government's top scientists in Washington. They quickly realized the drugs the HIV-positive woman from Memphis, Tenn., was taking likely caused the liver failure that killed her. Hafford's family members say they were never told NIH had concluded that the experimental drug regimen likely caused her death until the Associated Press gave them copies of NIH's internal case documents this month. They were left to believe Hafford had died from AIDS complications. "They tried to make it sound like she was just sick. They never connected it to the drug," said Rubbie King, Hafford's sister. NIH officials acknowledge that experimental drugs, most likely nevirapine, caused her death. The study during which Hafford died recently led researchers to conclude that nevirapine poses risks when taken over time by certain pregnant women. The family says Hafford seemed unaware of the liver risks. They even kept the bottle of nevirapine showing it had no safety warnings.

Note: If you want to understand just how corrupt and deceitful medical research doctors can be, read the stunning article on this case at this link. This article mentions the little-known fact that "a majority of HIV-positive tests, when retested, come back indeterminate or negative. In many cases, different results emerge from the same blood tested in different labs."

It's a perfect storm. I'm talking about the dangers facing our democracy. First, income in America is now more concentrated in fewer hands than it has been in 80 years. Almost a quarter of total income generated in the United States is going to the top 1 percent of Americans. The top one-tenth of 1 percent of Americans now earn as much as the bottom 120 million of us. Who are these people? They're top executives of big corporations and Wall Street, hedge-fund managers and private equity managers. Hundreds of millions of dollars are pouring into advertisements for and against candidates - without a trace of where the dollars are coming from. They're laundered through a handful of groups. Most Americans are in trouble. Their jobs, incomes, savings and even homes are on the line. They need a government that's working for them, not for the privileged and the powerful. Yet their state and local taxes are rising. And their services are being cut. There's no jobs bill to speak of. Washington says nothing can be done. There's no money left. No money? The marginal income tax rate on the very rich is the lowest it has been in more than 80 years. Under President Dwight Eisenhower ... it was 91 percent. Now it's 36 percent. We're losing our democracy to a different system. It's called plutocracy.

Note: As the Democrats and Republicans duke it out, the ultra-rich laugh all the way to the bank. What if instead of fighting each other, we worked together to expose the manipulations of the ultra-rich? Whether you are on the left or right of the political spectrum, this incisive article by former US Sect. of Labor Robert Reich is well worth reading in its entirety. For more in income inequality, click here.

Americans die sooner than citizens of a dozen other developed nations and the usual suspects -- obesity, traffic accidents and a high murder rate -- are not to blame. Instead, poor healthcare may be to blame, the team at Columbia University in New York reported. They found that 15-year survival rates for men and women aged 45 to 65 have fallen in the United States relative to the other 12 countries over the past 30 years. In June, the Commonwealth Fund, which advocates on and does research focusing on healthcare reform, reported that Americans spend twice as much on healthcare as residents of other developed countries -- $7,290 per person -- but get lower quality and less efficiency. Between 1975 and 2005, medical costs went up in all the countries, as did life expectancy. But costs went up far more in the United States and life expectancy increased to a far lower degree. "In 1950, the United States was fifth among the leading industrialized nations with respect to female life expectancy at birth, surpassed only by Sweden, Norway, Australia, and the Netherlands," [the report authors] wrote. At last count, the United States was 46th in female life expectancy; 49th for both sexes.

Note: For key reports from reliable sources on important health issues, 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.