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.

It's been about 10 months since I wrote an essay for The Free Press in which I lamented, much more in sorrow than in anger, that NPR, my journalistic home for 25 years, had lost the trust of a large segment of the country. Public radio news had devolved into a doctrinaire source of what I called "one story after another about instances of supposed racism, transphobia, signs of the climate apocalypse, Israel doing something bad, and the dire threat of Republican policies." In 2020 alone, we dismissed the very possibility of a Covid lab leak in China, and our then–managing editor refused even to cover Hunter Biden's laptop, calling it "not really" a story. Now the crisis is at hand. Republicans control Congress and the White House, and they seem serious about what had previously been ritualistic GOP threats to cut public media. Katherine Maher, the NPR CEO ... has been called before the House Subcommittee on Delivery on Government Efficiency. The immediate past CEO of NPR, the late John Lansing, declared diversity, equity, and inclusion "the North Star" of the organization. In 2021, I found 87 registered Democrats among NPR editorial staff residing in D.C., where the network is headquartered. There were zero Republicans. Is NPR doing anything to address this seeming lack of viewpoint diversity, such as hiring journalists from conservative media, recruiting military veterans, or seeking candidates who attended religious colleges and state universities?

Note: Read more about the major problems Uri Berliner encountered at NPR. For more along these lines, read our concise summaries of news articles on corporate corruption and media manipulation.

Wildlife activists who exposed horrific conditions at Scottish salmon farms were subjected to "Big Brother" surveillance by spies for hire working for an elite British army veteran. One of the activists believes he was with his young daughter ... when he was followed and photographed by the former paratrooper Damian Ozenbrook's operatives. The surveillance of [Corin] Smith and another wildlife activist, Don Staniford, began after they paddled out to some of the floating cages where millions of salmon are farmed every year ... and filmed what was happening inside. The footage, posted online and broadcast by the BBC in 2018, showed fish crawling with sea lice. Covert surveillance by state agencies is subject to legislation that includes independent oversight. But once highly trained operatives leave the police, military or intelligence services, the private firms that deploy them are barely regulated. Guy Vassall-Adams KC, a barrister who has worked for the targets of surveillance, including anti-asbestos activists infiltrated by private spies, believes these private firms "engage in highly intrusive investigations which often involve serious infringements of privacy." He added. "It's a wild west." One firm, run by a former special forces pilot, was found to have infiltrated Greenpeace, Friends of the Earth and other environmental groups for corporate clients in the 2000s. Another, reportedly founded by an ex-MI6 officer, was hired in 2019 by BP to spy on climate campaigners.

Note: For more along these lines, read our concise summaries of news articles on factory farming and the disappearance of privacy.

Preschools and funeral homes, car washes and copper mines, dermatologists and datacentres – private equity is anywhere and everywhere that money changes hands. If it can in any way be marketed or monetised, private equity firms have bought it. By some estimates, these firms now control more than $13tn invested in more than 50,000 companies worldwide. "We cannot overestimate the reach of private equity across the global economy," Sachin Khajuria, a former partner at Apollo Global Management, which manages half a trillion dollars in assets, wrote in 2022. More and more people, especially the relatively poor, may live almost their entire lives in systems owned by one or another private equity firm: financiers are their landlords, their electricity providers, their ride to work, their employers, their doctors, their debt collectors. Private equity firms and related asset managers "increasingly own the physical as well as financial world around us," the scholar Brett Christophers writes. "All of our lives are now part of their investment portfolios." In order to drive up profits, private equity-controlled dental chains have induced children to undergo multiple unnecessary root canals. One child even died as a result. Some of the most heinous accounts have come from private equity-owned treatment centres for young people with behavioural problems, where children have been physically abused, raped and killed. These cases are extreme, but they are not isolated.

Note: BlackRock and Vanguard manage over $11 trillion and $8 trillion respectively–an unprecedented concentration of financial power. We hear outrage about billionaires and oligarchs, but rarely about private equity firms, who are backed by both political parties and are drastically reshaping our economy, contributing to environmental destruction, and extracting wealth from communities in the US and all over the world. For more along these lines, read our concise summaries of financial inequality and financial industry corruption.

In the last decade, private equity firms have been quietly taking control of dental care from behind the scenes, largely through secondary business organizations that push dental practices to cut costs and, in some cases, encourage unnecessary and irreversible dental procedures. In 2024, the dental industry witnessed 161 private equity deals – the highest number of any health care industry, as tracked by the watchdog organization, Private Equity Stakeholder Project. The data reveals that these investment firms are increasingly acquiring dental practices or inserting themselves into clinic management roles, where they then cut corners on patient care. The dental industry is an especially alluring target for private equity firms because it's comprised of thousands of independent clinics, offering investors a fragmented industry to consolidate and streamline. Between 2011 and 2019, private equity firms bought up $4.4 billion worth of dental practices. Dentists at ClearChoice Dental Implant Centers – a dental chain owned by Aspen Dental, one of the largest dental service organizations – were allegedly extracting healthy teeth from patients and replacing them with expensive implants. Experts have warned in various lawsuits against the implant center that this irreversible procedure exposes patients to excessive costs and surgery complications, plus a greater risk of future dental problems like infections and bone loss.

Note: BlackRock and Vanguard manage over $11 trillion and $8 trillion respectively–an unprecedented concentration of financial power. We hear outrage about billionaires and oligarchs, but rarely about private equity firms, who are backed by both political parties and are drastically reshaping our economy, contributing to environmental destruction, and extracting wealth from communities in the US and all over the world. For more along these lines, read our concise summaries of news articles on health and financial industry corruption.

Private equity firms claim their investments in U.S. health care modernize operations and improve efficiency, helping to rescue failing healthcare systems and support practitioners. But recent studies build on mounting evidence that suggests these for-profit deals lead to more patient deaths and complications, among other adverse health outcomes. Recent studies show private equity (PE) ownership across a wide range of medical sectors leads to: Poorer medical outcomes, including increased deaths, higher rates of complications, more hospital-acquired infections, and higher readmission rates; Staffing problems, with frequent turnover and cuts to nursing staff or experienced physicians that can lead to shorter clinical visits and longer wait times, misdiagnoses, unnecessary care, and treatment delays; Less access to care and higher prices, including the withdrawal of health care providers from rural and low-income areas, and the closure of unprofitable but essential services such as labor and delivery, psychiatric care, and trauma units. Economist Atul Gupta showed in 2021 that private equity acquisitions of U.S. nursing homes over a 12-year period increased deaths among residents by 10%–the equivalent of an additional 20,150 lives lost. Patients treated at PE-owned facilities, whose numbers have skyrocketed, continue to experience worse or mixed outcomes–from higher mortality rates to lower satisfaction–compared to those treated elsewhere.

Note: BlackRock and Vanguard manage over $11 trillion and $8 trillion respectively–an unprecedented concentration of financial power. We hear outrage about billionaires and oligarchs, but rarely about private equity firms, who are backed by both political parties and are drastically reshaping our economy, contributing to environmental destruction, and extracting wealth from communities in the US and all over the world. For more along these lines, read our concise summaries of news articles on health and financial industry corruption.

Juliet Gray never thought her makeup could harm her. But after years of regularly applying powders, eye shadow, and blush, Gray was diagnosed with peritoneal mesothelioma, an aggressive, incurable form of cancer. The cancer's primary cause is long-term exposure to asbestos – a common contaminant in talc, one of the main ingredients in well-known cosmetic brands. Like thousands of others, Gray is suing Whittaker, Clark, & Daniels, a longtime talc supplier for cosmetic companies like Revlon, Maybelline, and L'OrĂ©al, alleging it exposed her to harmful levels of asbestos without her knowledge. In 2007, three years after Whittaker, Clark, & Daniels ceased talc operations amid mounting health concerns, a Berkshire Hathaway subsidiary purchased the company's equity. But in 2023, as the "deluge" of asbestos lawsuits continued to climb, the former talc supplier filed for bankruptcy – a legal maneuver known as the Texas Two-Step in which giant corporations use bankruptcy courts to shield themselves from legal liabilities. Over the years, Berkshire Hathaway has faced dozens of lawsuits alleging that "Berkshire-owned companies wrongfully delay or deny compensation to cancer victims and others to boost Berkshire's profits," according to a 2013 investigation. But by 2011, the company found itself facing an increasing number of lawsuits alleging tainted cosmetic talc had caused mesothelioma, eventually racking up $300 million in claim bills.

Note: For more along these lines, read our concise summaries of news articles on corporate corruption and toxic chemicals.

Since 2000, the food and chemical industry has greenlighted nearly 99% of food chemicals introduced onto the market without federal safety review. This problematic situation happened through companies exploiting a loophole in food chemicals laws allowing them to decide which chemicals are safe to consume. Since 2000, food and chemical companies have petitioned the FDA only 10 times to approve a new substance. By contrast, they have added 863 chemicals, through the "generally recognized as safe," or GRAS, loophole. That's 98.8% of new food chemicals. The loophole lets those companies – not the FDA – decide when a substance is safe. The GRAS loophole was intended to apply narrowly to common ingredients like sugar, vinegar and baking soda. But as EWG's analysis shows, the loophole – not FDA safety review – has become the main way new chemicals are allowed into food. A GRAS determination shows a company believes "the substance is generally recognized, among qualified experts, as having been adequately shown to be safe under the conditions of its intended use." The company can submit a notice to the FDA about its conclusion, through a process that is entirely voluntary. Even Michael Taylor, a former FDA deputy commissioner for food, admitted in 2014 that the FDA "simply do[es] not have the information to vouch for the safety of many of these chemicals."

Note: For more along these lines, read our concise summaries of news articles on food system corruption and toxic chemicals.

Unhealthy food and beverage companies powerfully undermine the eating habits of young people by deploying ubiquitous ads that encourage poor dietary choices and increase the risk of serious disease and premature death, according to a sweeping new study published in Obesity Reviews. The first-of-its-kind summary highlights a clear cumulative pattern: The more high-fat, high-sugar, and salty food ads young people see, the more of those products they consume–and the higher the risk that they may develop obesity, type 2 diabetes, and other diet-related diseases. Companies also disproportionately target adolescents, lower-income communities, and Black and Latino youth with the marketing of health-harming food and beverages. The review summarizes 25 years of scientific evidence and findings from 108 empirical studies and 19 systematic reviews of unhealthy food marketing to adolescents (13-17) and young adults (18-25). One study showed that children who watched just five minutes of food ads ate about 130 more calories that day. Only 19% of studies examined health impacts, but most of those found links between unhealthy food marketing and higher BMI, weight gain, or increased obesity risk–especially from ultra-processed foods and sugary drinks. One U.S. study ... found that children who could recall more food ads chose more food items and consumed more calories after exposure.

Note: For more along these lines, read our concise summaries of news articles on health and food system corruption.

In our first hearing of this Congress titled, "The Corruption of Science and Federal Health Agencies: How Health Officials Downplayed and Hid Myocarditis and Other Adverse Events Associated with the COVID-19 Injections," I asked Dr. Joel Wallskog, an orthopedic surgeon injured by the Covid injections, to describe how those suffering from Covid injection injuries felt. His one-word answer: "Abandoned." The passage of the National Childhood Vaccine Injury Act of 1986 ... led to blanket immunity for vaccines through subsequent regulation. An explosion in the number of vaccine doses on the childhood schedule was the result. Prior to 1986, there were 3 routine vaccines totaling 7 injections. Today the CDC's Maternal and Child & Adolescent vaccine schedules include 19 vaccines requiring 76 injections with 94 total doses of antigen. In August 1997, the FDA ... issued draft guidance to allow pharmaceutical companies to advertise directly to consumers beyond print media into TV and radio. According to one estimate, drug companies spent $10 billion on direct-to-consumer advertising in 2024. That amount of spending has paid off handsomely for Big Pharma and its ability to control the narrative and suppress stories of drug and vaccine injuries. But to understand the true reality we face, there is nothing like hearing from those who have suffered the adverse events that are rarely acknowledged by the medical establishment, federal health agencies, and the corporate media.

Note: Watch the full Senate hearing video and read all statements from mothers and scientists who testified at hearing here. For video clips of witness testimonies, click here. Our well-researched and nuanced Substack reveals the undeniable evidence that COVID vaccine injuries and deaths were covered-up and censored. For more along these lines, read our concise summaries of news articles on COVID vaccine problems and Big Pharma corruption.

The woman, in her 60s, was losing her eyesight. [She] happened to be taking Elmiron, a drug for a bladder condition called interstitial cystitis. By the end of 2024, hundreds of patients on Elmiron had suffered vision loss or blindness. Others taking the drug were even more unlucky. Dozens of patient deaths associated with Elmiron were reported to the Food and Drug Administration (FDA), and 45 patients were hospitalized with severe colitis. Another problem? There's no good evidence that Elmiron works. When the government approved Elmiron in 1996, the manufacturer provided close to zero data that the drug effectively treated interstitial cystitis. Elmiron is just one of hundreds of drugs that have been approved by the FDA over the last several decades on the basis of flimsy or nonexistent evidence. Drug companies have been allowed to market hundreds of prescription drugs to doctors and sell them to unsuspecting patients despite glaringly inadequate evidence that they offer any benefit and in many cases amid clear signs that they pose a risk of serious, often irreparable harm. From January 2013 until Dec. 31, 2022, the FDA approved 429 drugs, most of which were authorized on the basis of inadequate evidence that they worked, according to a database of government records created for this investigation. In the U.S. alone, an estimated 128,000 people are killed each year by side effects of prescription drugs that are properly prescribed. That number excludes opioid overdoses and is more than deaths from all illegal drugs combined.

Note: This article is also available here. A JAMA study reveals how Big Pharma spends more on ads for low-benefit drugs to push consumer demand for treatments doctors are less likely to prescribe. For more along these lines, read our concise summaries of news articles on government corruption and Big Pharma profiteering.

Ultraprocessed foods, seed oils, herbicides and pesticides, and fluoride: They're all targets of the "Make America Healthy Again" movement, whose chief proponent is US Health and Human Services Secretary Robert F. Kennedy Jr. Now, MAHA Films, a production company dedicated to promoting the movement's values, has released its first documentary. "Toxic Nation: From Fluoride to Seed Oils – How We Got Here, Who Profits, and What You Can Do." [The film] highlights those four food- and environmental-related issues that Kennedy's nonprofit MAHA Action ... says "silently endanger millions of Americans every day." The documentary's release follows the May 22 publication of the first MAHA Commission report, which lays the groundwork for an overhaul of federal policy to reduce the burden of chronic disease on American children. Composing up to 70% of the US food supply, ultraprocessed foods are made with industrial techniques and ingredients never or rarely used in kitchens, or classes of additives whose function is to make the final product palatable or more appealing. Ultraprocessed foods are typically low in fiber; are high in calories, added sugar, refined grains and fats, and sodium; and include additives. The [also] film raises concerns about the herbicide glyphosate, citing previously documented links to cancer. Sources also said glyphosate may cause endocrine disruption and damaged gut microbiomes, with the latter potentially increasing risk for irritable bowel diseases and celiac disease.

Note: Read our latest Substack article on how the US government turns a blind eye to the corporate cartels fueling America's health crisis. For more along these lines, read our concise summaries of news articles on food system corruption and toxic chemicals.

The letters the Food and Drug Administration sends to pharmaceutical companies explaining its decisions on drugs are a treasure trove of valuable information. The FDA has begun making drug decision letters public and is publishing past decision letters retroactively. The historical lack of transparency about FDA decision-making has allowed companies to spin the information to investors and shareholders. For example, if an FDA rejection letter explains that the applicant did not meet agency standards and tells the company to perform a new clinical trial to be reconsidered for approval, the firm might mislead shareholders by saying that the FDA had just asked for a few minor things. A 2015 analysis by the FDA found that drug companies avoided mentioning 85 percent of the agency's concerns about safety and efficacy when announcing publicly that their application had not been approved. In addition, when the FDA calls for a new clinical trial for safety or efficacy, that critical information is not disclosed about 40 percent of the time. As a result, capital can be wasted on futile therapies or companies misrepresenting their regulatory guidance. It is important to point out that when making decision letters public, the FDA will redact any trade secrets and confidential commercial information. At the same time, the deliberations of agency scientists are not the property of the drug's sponsor. The FDA does not belong to the industry; it belongs to the American people.

Note: The above was written by Dr. Marty Makary, the US Commissioner of Food and Drugs. For more along these lines, read our concise summaries of news articles on government corruption and Big Pharma profiteering.

The first report of the Maha Commission made headlines in May when it raised concerns about a "chronic disease crisis" in children. Echoing language that [Robert F.] Kennedy campaigned on, the report argued that "the American diet has shifted dramatically toward ultra-processed foods" and that "nearly 70% of children's calories now come from UPFs, contributing to obesity, diabetes, and other chronic conditions". "The greatest step the United States can take to reverse childhood chronic disease is to put whole foods produced by American farmers and ranchers at the center of healthcare," the report found. It went on to describe the dismal state of nutrition research in the United States: "Government funding for nutrition research through the NIH is only 4-5% of its total budget and in some cases is subject to influence by food industry-aligned researchers." Kennedy has ordered the FDA to explore how to eliminate a policy that allows food companies to decide themselves whether food additives are safe, called the Generally Recognized as Safe (Gras) loophole. "That's a really, really big deal," says Dariush Mozaffarian, a cardiologist and director of the Food is Medicine Institute at the Friedman School of Nutrition Science and Policy at Tufts University. "Ninety-nine per cent of compounds in food were added through this loophole." Several states are also pursuing policies that would limit spending from the Supplemental Nutrition Assistance Program (Snap) on "junk food".

Note: For more along these lines, read our concise summaries of news articles on health and food system corruption.

Dozens of companies that make ice cream and frozen dairy desserts announced on Monday that they would remove artificial food dyes from their products by 2028, marking yet another voluntary move away from such food coloring within the food industry. It comes in response to a mission set forth by Health and Human Services Secretary Robert F. Kennedy Jr. to remove the artificial additives. In April, Food and Drug Administration Commissioner Marty Makary said the agency would move to eliminate several synthetic dyes by the end of next year. That includes Green 3, Red 40, Yellow 5, Yellow 6, Blue 1, and Blue 2. Red 3 was set to be banned in food by 2027 because it caused cancer in laboratory rats; the FDA called for that deadline to move up. Artificial dyes are used widely in U.S. foods. In Canada and in Europe – where synthetic colors are required to carry warning labels – manufacturers mostly use natural substitutes. Several states, including California and West Virginia, have passed laws restricting the use of artificial colors in foods. Health advocates have long called for the removal of artificial dyes from foods, citing mixed studies indicating they can cause neurobehavioral problems, including hyperactivity and attention issues, in some children. The FDA has maintained that the approved dyes are safe and that "the totality of scientific evidence shows that most children have no adverse effects when consuming foods containing color additives."

Note: For more along these lines, read our concise summaries of news articles on food system corruption.

Most of us are raised on stories and songs of the family farm, where the barns are rust-red and picturesque, and cute animals gambol happily in a picket-fenced yard. "Little Red Barns," [journalist Will Potter's] second book, is the reportage of his epic, emotionally and physically draining 10-year investigation into American factory farms – also known as CAFOs, "concentrated animal feeding operations" – and the dedicated activists seeking to expose the mass suffering within. Like his first book, "Green Is the New Red" (2011), an exploration of how agencies such as the FBI target environmental and animal rights activists, it's impassioned and deeply researched. The book is a lucid indictment of a food system whose normalization of cruelty on a staggering scale is rivaled only by the tightly controlled, government-sanctioned regime of non-transparency that enables it. Discussing the history of undercover efforts to expose abuses in farm factories – in which the advent of phone cameras and other concealable, portable video equipment in the 2000s played a key role – Potter describes the subsequent rise of "ag-gag" laws, passed to stop reporters and activists from filming such private abuses and making them public. Keep in mind, Potter notes, that the U.S. agriculture lobby spends as much on buying influence with politicians every year as the fossil fuel lobby; in 2023 alone, it spent $177 million.

Note: For more along these lines, read our concise summaries of news articles on food system corruption and factory farming.

Surveillance capitalism came about when some crafty software engineers realized that advertisers were willing to pay bigtime for our personal data. The data trade is how social media platforms like Google, YouTube, and TikTok make their bones. In 2022, the data industry raked in just north of $274 billion worth of revenue. By 2030, it's expected to explode to just under $700 billion. Targeted ads on social media are made possible by analyzing four key metrics: your personal info, like gender and age; your interests, like the music you listen to or the comedians you follow; your "off app" behavior, like what websites you browse after watching a YouTube video; and your "psychographics," meaning general trends glossed from your behavior over time, like your social values and lifestyle habits. In 2017 The Australian alleged that [Facebook] had crafted a pitch deck for advertisers bragging that it could exploit "moments of psychological vulnerability" in its users by targeting terms like "worthless," "insecure," "stressed," "defeated," "anxious," "stupid," "useless," and "like a failure." The social media company likewise tracked when adolescent girls deleted selfies, "so it can serve a beauty ad to them at that moment," according to [former employee Sarah] Wynn-Williams. Other examples of Facebook's ad lechery are said to include the targeting of young mothers based on their emotional state, as well as emotional indexes mapped to racial groups.

Note: Facebook hid its own internal research for years showing that Instagram worsened body image issues, revealing that 13% of British teenage girls reported more frequent suicidal thoughts after using the app. For more along these lines, read our concise summaries of news articles on Big Tech and mental health.

Trust in academic research is crucial. This trust, however, could be affected by the presence of conflicts of interest (CoIs), situations where a specific interest of the researcher could compromise the researcher's impartiality. Academic research in fields such as economics, medicine, and many others is becoming more costly and often depends on funding or access to databases controlled by private parties. To what extent do these relationships undermine trust in research? In our new NBER working paper, we address this ... by examining how different types of CoIs shape perceptions of the trustworthiness of economic research. Trust in the results declined across all groups (on average by 30%) following the disclosure of a CoI, despite the research being peer-reviewed and published in a prestigious academic journal. This decline was moderated by expertise, with average Americans experiencing greater declines in trust than "elite" economists (who publish in the top journals). Nonetheless, even elite economists experienced a drop in trust. Financial incentives (such as funding) were not the sole or the most significant factor influencing trust. Instead, privileged access to data had the most pronounced effect. When research utilized private data aligned with the interests of the data provider, trust in the results decreased by over 20%. Trust dropped by approximately 50% if the data provider retained review rights over the research outcomes.

Note: "Trust the science" sounds noble–until you realize that even top editors of world-renowned journals have warned that much of published medical research is unreliable, distorted by fraud, corporate influence, and conflicts of interest. For more along these lines, read our concise summaries of news articles on corruption in science.

A new study of defense department spending previewed exclusively to the Guardian shows that most of the Pentagon's discretionary spending from 2020 to 2024 has gone to outside military contractors, providing a $2.4tn boon in public funds to private firms in what was described as a "continuing and massive transfer of wealth from taxpayers to fund war and weapons manufacturing". The report from the Quincy Institute for Responsible Statecraft and Costs of War project at Brown University said that the Trump administration's new Pentagon budget will push annual US military spending past the $1tn mark. That will deliver a projected windfall of more than half a trillion dollars that will be shared among top arms firms such as Lockheed Martin and Raytheon as well as a growing military tech sector with close allies in the administration such as JD Vance, the report said. The US military budget will have nearly doubled this century, increasing 99% since 2000. "The US withdrawal from Afghanistan in September 2021 did not result in a peace dividend," the authors of the report wrote. "Instead, President Biden requested, and Congress authorized, even higher annual budgets for the Pentagon, and President Trump is continuing that same trajectory of escalating military budgets." The growth in spending will increasingly benefit firms in the "military tech" sector who represent tech companies like SpaceX, Palantir and Anduril.

Note: Learn more about arms industry corruption in our comprehensive Military-Intelligence Corruption Information Center. For more, read our concise summaries of news articles on military corruption.

Da Ying "David" Sze walked out of a four-story concrete warehouse in Queens, New York, carrying several bags full of money. Federal agents had been surveilling him for months. They suspected him of leading a gang of money launderers whose clients included Chinese fentanyl dealers. Most of that business had been conducted at one institution: TD Bank. When investigators looked closer at the bank, they realized Sze wasn't the only criminal who'd made TD their depository of choice. There was the group from Manhattan's Diamond District using bogus gold sales to launder money. The Colombian drug traffickers using TD debit cards to bring their US profits back home. And the human trafficking ring that claimed to be an HVAC company when it opened an account. The more investigators looked at TD, the more money laundering they found. Last year, TD's American subsidiary became the first US bank ever to plead guilty to conspiracy to commit money laundering. The company agreed to pay $3.1 billion in fines to various parts of the federal government, a sum that included the biggest penalty ever levied by the Department of Justice under the Bank Secrecy Act, the main US anti-money-laundering law. More than two dozen people, including three bank employees, have already been charged. US authorities have also imposed an asset cap on TD's American retail operations, limiting their size indefinitely. This is among the most feared punishments in banking.

Note: Read our Substack on the dark truth about the war on drugs. For more along these lines, read our concise summaries of news articles on financial industry corruption and the war on drugs.

If economic inequality increases within a country, the risk of civil war breaking out grows. This is the finding from a study by the Chair of Economic History at the University of TĂĽbingen. The study has been published in the Review of Income and Wealth. The calculations revealed a statistically significant connection between unequal distribution of income and the outbreak of civil wars. The results can be verified using historical events: for example, land was extremely unequally distributed in Russia before the October revolution of 1917–and this critically contributed to the outbreak of revolution and civil war, a marker that was also identified by the new benchmark with a correspondingly high probability. The new benchmark also makes it possible to predict the risk of civil war today: "In the U.S. the inequality in income distribution has risen sharply in the past 30 years. Accordingly, the risk of a civil war in the U.S. has risen drastically from 10% to 21%," says Baten. In Great Britain, China, India and Russia too, inequality has risen greatly in the same period. "We've checked what influence other variables had on the outbreak of civil wars," says Laura Radatz, co-author of the study. "For instance, the size of a country and its population naturally increase the probability that a civil war will break out somewhere in this country." The amount of economic growth in a country does not measurably influence the risk of a civil war, according to the study.

Note: For more along these lines, read our concise summaries of news articles on financial inequality.

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.