Corporate Corruption News Stories

Excerpts of Key Corporate Corruption News Stories in Major Media

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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.

A healthcare firm is seeking to silence a Danish academic from expressing doubts about one of its products by using England’s draconian libel laws. Two years ago in a conference room in the Randolph hotel in Oxford, Henrik Thomsen ... one of Europe’s leading radiologists, revealed how patients treated at his hospital had subsequently contracted a rare and potentially fatal disease. Thomsen and other doctors at his Copenhagen University hospital were baffled as to why 20 kidney patients who had been given routine scans were afflicted by a disorder — nephrogenic systemic fibrosis (NSF) — in which the skin gradually swells, thickens and tightens. Some sufferers were confined to wheelchairs. At least one died. There was no known cure. It was confirmed that all those who had fallen ill with NSF had been given the same drug in advance of a magnetic resonance imaging (MRI) scan. Omniscan was used to enhance the images produced by the scan. The product was sold around the world and was manufactured by GE Healthcare, a subsidiary of General Electric, one of the world’s largest corporations. Thomsen ... now refuses to speak anywhere in England on the possible risks of Omniscan. The reason is that he faces another kind of storm: GE Healthcare is suing him in the High Court for libel. GE has already racked up costs of more than Ł380,000 pursuing the respected academic. Thomsen will have to pay the firm’s costs if he loses the case.

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[Bill Moyers:] Something's not right here. One year after the great collapse of our financial system, Wall Street is back on top while our politicians dither. As for health care reform, you're about to be forced to buy insurance from companies whose stock is soaring, and that's just dandy with the White House. It's capital. Raw money, mounds of it, buying politicians and policy as if they were futures on the hog market. Some of the big insurance companies, Well Point, Cigna, United Health, all surged to a 52 week high in their share prices this week when it was clear there'd be no public option in the health care bill going through Congress right now. What does that tell you? ROBERT KUTTNER: Their strategy was cut a deal with the insurance companies, the drug industry going in. And the deal was, we're not going to attack your customer base, we're going to subsidize a new customer base. And that script was pre-cooked so it's not surprising that this is what comes out the other side. Once the White House made this deal with the insurance companies, the public option was never going to be anything more than a fig leaf. And over the summer and the fall, it got whittled down, whittled down, whittled down to almost nothing and now it's really nothing.

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Goldman Sachs Group Inc. played a bigger role than has been publicly disclosed in fueling the mortgage bets that nearly felled American International Group Inc. Goldman was one of 16 banks paid off when the U.S. government last year spent billions closing out soured trades that AIG made with the financial firms. A Wall Street Journal analysis of AIG's trades, which were on pools of mortgage debt, shows that Goldman was a key player in many of them, even the ones involving other banks. Goldman originated or bought protection from AIG on about $33 billion of the $80 billion of U.S. mortgage assets that AIG insured during the housing boom. That is roughly twice as much as Société Générale and Merrill Lynch, the banks with the biggest exposure to AIG after Goldman. In Goldman's biggest deal, it acted as a middleman between AIG and banks, taking on the risk of as much as $14 billion of mortgage-related investments. Then Goldman insured that risk with one trading partner – AIG. When the federal government bailed out the insurer, Goldman avoided losses on its trades with AIG covering a total of $22 billion in assets.

Note: For many revealing reports from reliable, verifiable sources on the hidden realities behind the Wall Street bailout, click here.

Private security guards from Blackwater Worldwide participated in some of the C.I.A.’s most sensitive activities — clandestine raids with agency officers against people suspected of being insurgents in Iraq and Afghanistan and the transporting of detainees, according to former company employees and intelligence officials. The raids against suspects occurred on an almost nightly basis during the height of the Iraqi insurgency from 2004 to 2006, with Blackwater personnel playing central roles in what company insiders called “snatch and grab” operations. Several former Blackwater guards said that their involvement in the operations became so routine that the lines supposedly dividing the Central Intelligence Agency, the military and Blackwater became blurred. Instead of simply providing security for C.I.A. officers, they say, Blackwater personnel at times became partners in missions to capture or kill militants in Iraq and Afghanistan, a practice that raises questions about the use of guns for hire on the battlefield. The secret missions illuminate a far deeper relationship between the spy agency and the private security company than government officials had acknowledged. Blackwater’s ties to the C.I.A. have emerged in recent months, beginning with disclosures in The New York Times that the agency had hired the company as part of a program to assassinate leaders of Al Qaeda and to assist in the C.I.A.’s Predator drone program in Afghanistan and Pakistan.

Note: After this report was published, the CIA announced it had terminated contracts with Blackwater. The reality is that many of Blackwater's services are provided under classified contracts, with both the CIA and the Joint Special Operations Command, so the denial of "contracts" with Blackwater may be deceptive.

This is the 25th anniversary of the Bhopal gas disaster. [It] started one night when a pesticide plant owned by the American chemical giant Union Carbide leaked a cloud of poisonous gas. Before the sun rose, almost 4,000 human beings capable of love and anguish sank to their knees and did not get up. Half a million more fell ill, many with severely damaged lungs and eyes. An additional 15,000 people have since died from the aftereffects, and 10 to 30 people are said to die every month from exposure to the hundreds of tons of toxic waste left over in the former factory. But amazingly, the site still has not been cleaned up, because Dow Chemical, which since acquired Union Carbide, refuses to accept any responsibility. In 2001, the maker of napalm married the bane of Bhopal: Dow Chemical bought Union Carbide for $11.6 billion and promptly distanced itself from the disaster. Union Carbide and Dow were allowed to get away with it because of the international legal structures that protect multinationals from liability. Union Carbide sold its Indian subsidiary and pulled out of India. Warren Anderson, the Union Carbide chief executive at the time of the gas leak, lives in luxurious exile in the Hamptons, even though there’s an international arrest warrant out for him for culpable homicide. The Indian government has yet to pursue an extradition request. Imagine if an Indian chief executive had jumped bail for causing an industrial disaster that killed tens of thousands of Americans. What are the chances he’d be sunning himself in Goa?

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Global power-brokers have a penchant for siting their get-togethers in inaccessible places. Since Seattle 1999, Washington and Prague 2000, the calendar of global get-togethers has attracted lively anti-globalisation demonstrations. Davos this year had unusually tight security to try and keep protestors well away, leading to allegations of unnecessary heavy-handedness by the Swiss police. This weekend, it is the turn of Bilderberg, perhaps the most secretive (or as the organisers would prefer to claim, discrete) club for the global elite. It holds its weekend on Stenungsund, an island off the Swedish west coast. The group was created by Denis (now Lord) Healey, Joseph Retinger, David Rockefeller and Prince Bernhard of the Netherlands (a former SS officer) - the group aimed to [bring] together financiers, industrialists, politicians and opinion formers; the press have never been allowed access. There is a growing perception that globalisation is a process which is being managed for the benefit of a small proportion of the planet's residents and at terrible cost to many more. There is a perception of illegitimacy about unaccountable corporate power and governments elected on low turnout: sooner or later global power-brokers will have to recognise this crisis of legitimacy, and engage with protestors rather than run away from them.

Note: For lots more reliable news on powerful secret societies, click here. And for another balanced article on the powerful Bilderberg Group, click here.

So this is how it works. A tiny, shoe-string central office in Holland decides each year which country will host the next meeting. Each country has two steering committee members. They call up Bilderberg-friendly global corporations, such as Xerox or Heinz or Fiat or Barclays or Nokia, which donate the hundreds of thousands of pounds needed. They do not accept unsolicited donations from non-Bilderberg corporations. Nobody can buy their way into a Bilderberg meeting, although many corporations have tried. Then they decide who to invite - who seems to be a "Bilderberg person". The notion of a Bilderberg person hasn't changed since the earliest days, back in 1954. The guests are expressly asked not to give interviews to journalists. There are two morning sessions and two afternoon sessions. While furiously denying that they secretly ruled the world, my Bilderberg interviewees did admit to me that international affairs had, from time to time, been influenced by these sessions. This is how Denis Healey described a Bilderberg person to me: "To say we were striving for a one-world government is exaggerated, but not wholly unfair. Bilderberg is a way of bringing together politicians, industrialists, financiers and journalists. Politics should involve people who aren't politicians."

Note: For lots more on the highly secretive Bilderberg meeting from two later BBC News article, click here. For many other revealing articles from major media reports on secret societies and secret meetings of the most rich and powerful people in our world, click here.

U.S. lenders saw loans fall by the largest amount since the government began tracking such data, suggesting that nervousness among banks continues to hamper economic recovery. Total loan balances fell by $210.4 billion, or 3%, in the third quarter, the biggest decline since data collection began in 1984, according to a report released ... by the Federal Deposit Insurance Corp. The FDIC also said its fund to backstop deposits fell into negative territory for just the second time in its history, pushed down by a wave of bank failures. The decline in total loans showed how banks remain reluctant to lend, despite the hundreds of billions of dollars the government has spent to prop up ailing banks and jump-start lending. The issue has taken on greater urgency with the U.S. unemployment rate hitting 10.2% in October. "There is no question that credit availability is an important issue for the economic recovery," FDIC Chairman Sheila Bair told reporters Tuesday. "We need to see banks making more loans to their business customers." She said large banks -- which account for 56% of industry assets and received a large share of the government's bailout funds -- accounted for 75% of the decline.

Note: The big banks were given trillions in bailout funds with a mandate to increase loans and stimulate the economy. Why are they still giving out so few loans? Where did the huge amounts of our taxpayer money go? Why isn't the government demanding accountability with such huge sums of taxpayer money? For lots more on major manipulations by the big bankers, click here.

At a covert forward operating base run by the US Joint Special Operations Command (JSOC) in the Pakistani port city of Karachi, members of an elite division of Blackwater are at the center of a secret program in which they plan targeted assassinations of suspected Taliban and Al Qaeda operatives, "snatch and grabs" of high-value targets and other sensitive action inside and outside Pakistan. The Blackwater operatives also assist in gathering intelligence and help direct a secret US military drone bombing campaign that runs parallel to the well-documented CIA predator strikes, according to a well-placed source within the US military intelligence apparatus. The previously unreported program, the military intelligence source said, is distinct from the CIA assassination program. "This is a parallel operation to the CIA," said the source. "They are two separate beasts." Blackwater's presence in Pakistan is "not really visible, and that's why nobody has cracked down on it," said the source. Blackwater's operations in Pakistan, he said, are not done through State Department contracts or publicly identified Defense contracts. "It's Blackwater via JSOC, and it's a classified no-bid [contract] approved on a rolling basis. Some of these strikes are attributed to [the CIA], but in reality it's JSOC. So when you see some of these hits, especially the ones with high civilian casualties, those are almost always JSOC strikes."

Note: Don't miss this key report in it's entirety. Why haven't other major media outlets mentioned the Joint Special Operations Command (JSOC) drone operations in Pakistan, running parallel to the CIA's?

Some of the largest shareholders in Goldman Sachs Group Inc. have urged the Wall Street firm to reduce the size of its bonus pool, arguing that it should pass along more of its blockbuster earnings to investors, according to people familiar with the situation. Their complaints in private conversations with the company and at analyst meetings show how anger over its big-money culture is spilling into the ranks of investors who typically shy away from debates over Wall Street pay. Despite record net income and compensation at Goldman as markets rebound and the firm outmuscles weakened rivals for business, analysts expect its 2009 earnings per share to be 22% lower than in 2007 and roughly equal to its 2006 earnings, according to Thomson Financial. The decline is caused by issuing more than 100 million shares in the past year to bolster Goldman's financial position and capital. Some major Goldman shareholders also are concerned about a little-noticed change in the company's financial statements that increased the firm's total head count by adding temporary employees and consultants. The change reduced per-employee compensation, making it look like Goldman employees earn less than they actually do. The figure is a lightning rod for criticism of Goldman because its staff is on pace to earn about $717,000 apiece for 2009. Excluding temporary employees and consultants would increase compensation per employee to about $775,000.

Note: For many revealing reports from reliable sources on the realities behind the Wall Street bailout, click here.

France's highest court has ruled that US agrochemical giant Monsanto had not told the truth about the safety of its best-selling weed-killer, Roundup. The court confirmed an earlier judgment that Monsanto had falsely advertised its herbicide as "biodegradable" and claimed it "left the soil clean". The company was fined 15,000 euros (Ł13,800; $22,400). Roundup is the world's best-selling herbicide. Monsanto also sells crops genetically-engineered to be tolerant to Roundup. French environmental groups had brought the case in 2001 on the basis that glyphosate, Roundup's main ingredient, is classed as "dangerous for the environment" by the European Union. Earlier this month, Monsanto reported a fourth quarter loss of $233m (Ł147m), driven mostly by a drop in sales of its Roundup brand.

Note: For an article on the dangers of Monsanto's RoundUp, click here.

Even as drug makers promise to support Washington's health care overhaul by shaving $8 billion a year off the nation's drug costs after the legislation takes effect, the industry has been raising its prices at the fastest rate in years. In the last year, the industry has raised the wholesale prices of brand-name prescription drugs by about 9 percent, according to industry analysts. That will add more than $10 billion to the nation's drug bill, which is on track to exceed $300 billion this year. By at least one analysis, it is the highest annual rate of inflation for drug prices since 1992. The drug trend is distinctly at odds with the direction of the Consumer Price Index, which has fallen by 1.3 percent in the last year. Critics say the industry is trying to establish a higher price base before Congress passes legislation that tries to curb drug spending in coming years. "When we have major legislation anticipated, we see a run-up in price increases," says Stephen W. Schondelmeyer, a professor of pharmaceutical economics at the University of Minnesota. A Harvard health economist, Joseph P. Newhouse, said he found a similar pattern of unusual price increases after Congress added drug benefits to Medicare a few years ago, giving tens of millions of older Americans federally subsidized drug insurance. Just as the program was taking effect in 2006, the drug industry raised prices by the widest margin in a half-dozen years. "They try to maximize their profits," Mr. Newhouse said.

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In the official record of the historic House debate on overhauling health care, the speeches of many lawmakers echo with similarities. Often, that was no accident. Statements by more than a dozen lawmakers were ghostwritten, in whole or in part, by Washington lobbyists working for Genentech, one of the world's largest biotechnology companies. E-mail messages obtained by The New York Times show that the lobbyists drafted one statement for Democrats and another for Republicans. The lobbyists ... were remarkably successful in getting the statements printed in the Congressional Record under the names of different members of Congress. Genentech, a subsidiary of the Swiss drug giant Roche, estimates that 42 House members picked up some of its talking points – 22 Republicans and 20 Democrats, an unusual bipartisan coup for lobbyists. In an interview, Representative Bill Pascrell Jr., Democrat of New Jersey, said: "I regret that the language was the same. I did not know it was." He said he got his statement from his staff and "did not know where they got the information from." In recent years, Genentech's political action committee and lobbyists for Roche and Genentech have made campaign contributions to many House members. And company employees have been among the hosts at fund-raisers for some of those lawmakers.

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European scientists and health authorities are facing angry questions about why H1N1 flu has not caused death and destruction on the scale first feared, and they need to respond deftly to ensure public support. Accusations are flying in British and French media that the pandemic has been "hyped" by medical researchers to further their own cause, boost research grants and line the pockets of drug companies. Britain's Independent newspaper this week asked "Pandemic? What Pandemic?." France's Le Parisien newspaper ran the headline: "Swine flu: why the French distrust the vaccine" and noted a gap between the predicted impact of H1N1 and the less dramatic reality. "Dangerous liaisons between certain experts, the labs and the government, the obscurity of the contracts between the state and the pharma firms have added to the doubt." In Britain, health authorities' original worst-case scenario -- which said as many as 65,000 could die from H1N1 -- has twice been revised down and the prediction is now for around 1,000 deaths, way below the average annual toll of 4,000 to 8,000 deaths from seasonal winter flu.

Note: It's quite interesting and telling that a thorough Internet seach showed that no major media picked up this article from Reuters News Agency

What really happens behind the padlocked doors of this windowless building, [the home] of Skull and Bones, Yale's oldest secret society? Its members include some of America's most powerful and privileged elite all sworn to secrecy. [CAMPBELL] BROWN: Alexandra Robbins broke through the wall of silence to write Secrets of the Tomb based on clandestine interviews with dozens of bonesmen. Only 15 [Yale students] get picked each year. The society includes at least three U.S. presidents, Supreme Court justices, and too many senators and CEOs to name. In 2004, Bush versus Kerry was the first all-bonesmen presidential election. ALEXANDRA ROBBINS: Skull and Bones' only purpose is to get its members into positions of prominence around the world so that they can elevate other members to similar positions. One of the first activities they participate in is called connubial bliss, where ... each member must spend an evening standing in front of the other 14 bonesmen and recount his or her entire sexual and romantic history. BROWN: According to one ... story, Prescott Bush, George W. Bush's grandfather, was part of a group that broke into the Oklahoma burial place of the Apache chief Geronimo and made off with his skull. Geronimo's grave was disturbed back in 1918, there are photos of skulls inside the "Skull and Bones" tomb. They have their own private retreat. Deer Island off the coast of New York. And a world of ready investors and political contacts in the highest echelons of American society. What has kept the secret society alive for all these years? Good old fashioned networking for the super elite.

Note: To watch the CNN video clip on this Yale secret society, click here. For lots more powerful information on Skull and Bones and other secret societies reported in major media articles, click here.

Chemicals in plastics alter the brains of baby boys, making them "more feminine", say US researchers. Males exposed to high doses in the womb went on to be less likely to play with boys' toys like cars or to join in rough and tumble games, they found. The University of Rochester team's latest work adds to concerns about the safety of phthalates, found in vinyl flooring and PVC shower curtains. The findings are reported in the International Journal of Andrology. Phthalates have the ability to disrupt hormones, and have been banned in toys in the EU for some years. There are many different types and some mimic the female hormone oestrogen. The same researchers have already shown that this can mean boys are born with genital abnormalities. Now they say certain phthalates also impact on the developing brain, by knocking out the action of the male hormone testosterone. Dr Shanna Swan and her team ... found that two phthalates DEHP and DBP can affect play behaviour. Boys exposed to high levels of these in the womb were less likely than other boys to play with cars, trains and guns or engage in "rougher" games like playfighting. Elizabeth Salter-Green, director of the chemicals campaign group CHEM Trust, said the results were worrying. "We now know that phthalates, to which we are all constantly exposed, are extremely worrying from a health perspective, leading to disruption of male reproduction health and, it appears, male behaviour too."

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The rapid adoption by U.S. farmers of genetically engineered corn, soybeans and cotton has promoted increased use of pesticides, an epidemic of herbicide-resistant weeds and more chemical residues in foods, according to a report ... by health and environmental protection groups. The groups said research showed that herbicide use grew by 383 million pounds from 1996 to 2008, with 46 percent of the total increase occurring in 2007 and 2008. The report was released by nonprofits The Organic Center (TOC), the Union for Concerned Scientists (UCS) and the Center for Food Safety (CFS). The groups said that [there is] a net overall increase on U.S. farm fields of 318 million pounds of pesticides, which includes insecticides and herbicides, over the first 13 years of commercial use. The rise in herbicide use comes as U.S. farmers increasingly adopt corn, soy and cotton that have been engineered with traits that allow them to tolerate dousings of weed killer. The report by the environmental groups states that a key problem resulting from the increase in herbicide use is the emergence of "super weeds," which are difficult to kill because they have become resistant to the herbicides. "This report confirms what we've been saying for years," said Bill Freese, science policy analyst for the Center for Food Safety. "The most common type of genetically engineered crops promotes increased use of pesticides, an epidemic of resistant weeds, and more chemical residues in our foods. This may be profitable for the biotech/pesticide companies, but it's bad news for farmers, human health and the environment."

Note: Why did the major media fail to report this Reuters' article? To read the full report, "Impacts of Genetically Engineered Crops on Pesticide Use: The First Thirteen Years", and to view additional information, click here. And for a powerful online lesson on health which has already transformed lives, click here.

When Islam Siddiqui appears for his Senate confirmation, possibly as early as next week, it will be time for some tough questions. The White House has nominated Mr. Siddiqui for the position of chief agricultural negotiator in the office of the United States trade representative. He is presently a vice president at CropLife America, a coalition of the major industrial players in the pesticide industry, including Syngenta, Monsanto, Dow Chemical and DuPont. That job doesn't seem to square with the Obama administration's professed interest in more sustainable, less chemically dependent approaches to agriculture. Nor does much of the rest of Mr. Siddiqui's resumĂ©. The White House has touted his role in the first phase of developing national organic standards. But those standards, as they first emerged in draft form in the Clinton years, were notoriously loose about allowing genetically engineered crops and the use of sewage-sludge fertilizers to be labeled as "organic." But the business of [Siddiqui's] CropLife – an arm of which openly scoffed at Michelle Obama's plans for an organic garden – is to increase exports of agricultural chemicals.

Note: For a powerful overview of the risks of genetically modified food, click here.

The anti-sweatshop movement at dozens of American universities, from Georgetown to U.C.L.A., has had plenty of idealism and energy, but not many victories. Until now. Its pressure tactics persuaded one of the nation's leading sportswear companies, Russell Athletic, to agree to rehire 1,200 workers in Honduras who lost their jobs when Russell closed their factory soon after the workers had unionized. From the time Russell shut the factory last January, the anti-sweatshop coalition orchestrated a nationwide campaign against the company. Most important, the coalition, United Students Against Sweatshops, persuaded the administrations of Boston College, Columbia, Harvard, New York University, Stanford, Michigan, North Carolina and 89 other colleges and universities to sever or suspend their licensing agreements with Russell. Student activists picketed the N.B.A. finals in Orlando and Los Angeles this year to protest the league's licensing agreement with Russell. In its agreement, not only did Russell agree to reinstate the dismissed workers and open a new plant in Honduras as a unionized factory, it also pledged not to fight unionization at its seven existing factories there. "For us, it was very important to receive the support of the universities," Moises Alvarado, president of the union at the closed plant in Choloma, said. "We are impressed by the social conscience of the students in the United States."

Retired retail executive Richard Goldman was astonished when he heard about the $27 billion pollution lawsuit against Chevron Corp. in Ecuador. Astonished at the soil and water contamination surrounding Ecuador's oil fields. And astonished that he'd never heard of it before. So Goldman, one of the founders of the Men's Wearhouse clothing chain, has created a nonprofit group that will use social-networking tools to spread word of the case and put pressure on Chevron. The group, Ethos Alliance, will ask visitors to its Web site to tell others about the issue, hoping that viral communication via the Internet will reach people that news stories about the suit haven't. The site will raise money for humanitarian relief projects in Ecuador's oil patch, encouraging visitors to donate $5 apiece to build a water treatment plant and buy medicine for a health clinic. The Web site, www.ethosalliance.org, goes online today. Ethos also will urge Chevron to settle the long-running lawsuit, something the San Ramon company has vowed not to do. Ethos plans to tackle other issues of corporate responsibility in the future, uniting the alliance's online members with businesses willing to join the cause. Ethos is the latest example of social or political causes using social networking to increase their reach. Earlier this year, a one-day fundraising effort organized via Twitter collected $250,000 for drinking water projects in the developing world.

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.