Government Corruption Media Articles

Excerpts of Key Government Corruption Media Articles in Major Media

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

BILL MOYERS: ALEC [The American Legislative Exchange Council] is a nationwide consortium of elected state legislators working side by side with some of America's most powerful corporations. They have an agenda you should know about, a mission to remake America, changing the country by changing its laws, one state at a time. ALEC creates what it calls "model legislation," pro-corporate laws its members push in statehouses across the nation. ALEC says close to a thousand bills, based at least in part on its models, are introduced each year. And an average of 200 pass. This has been going on for decades. Lisa Graves, a former Justice Department attorney, runs the Center for Media and Democracy, a nonprofit investigative reporting group in Madison, Wisconsin. In 2011 by way of an ALEC insider, Graves got her hands on a virtual library of internal ALEC documents. She was amazed by its contents. LISA GRAVES: Bills to change the law to make it harder for American citizens to vote, those were ALEC bills. Bills to dramatically change the rights of Americans who were killed or injured by corporations, those were ALEC bills. Bills to make it harder for unions to do their work were ALEC bills. Bills to basically block climate change agreements, those were ALEC bills. BILL MOYERS: She and her team ... found hundreds of corporations [involved], from Coca-Cola and Koch Industries to Exxon Mobil, Pfizer, and Wal-Mart. There were more than ... 850 boilerplate laws that ALEC legislators could introduce as their own in any state in the union.

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

The Pentagon will send hundreds of additional spies overseas as part of an ambitious plan to assemble an espionage network that rivals the CIA in size, U.S. officials said. The project is aimed at transforming the Defense Intelligence Agency ... into a spy service focused on emerging threats and more closely aligned with the CIA and elite military commando units. When the expansion is complete, the DIA is expected to have as many as 1,600 “collectors” in positions around the world, an unprecedented total. They will be trained by the CIA and often work with the U.S. Joint Special Operations Command, but they will get their spying assignments from the Department of Defense. Among the Pentagon’s top intelligence priorities, officials said, are Islamist militant groups in Africa, weapons transfers by North Korea and Iran, and military modernization underway in China. The Pentagon’s plan to create what it calls the Defense Clandestine Service, or DCS, reflects the military’s latest and largest foray into secret intelligence work. The DIA overhaul — combined with the growth of the CIA since the Sept. 11, 2001, terrorist attacks — will create a spy network of unprecedented size. The expansion of the agency’s clandestine role is likely to heighten concerns that it will be accompanied by an escalation in lethal strikes and other operations outside public view. Because of differences in legal authorities, the military isn’t subject to the same congressional notification requirements as the CIA.

Note: For deeply revealing reports from reliable major media sources on secret operations by the DIA and CIA in the "global war on terror", click here.

November 29th ... marks the two-year anniversary of the first front pages around the world from Cablegate, an archive of 251,287 U.S. State Department diplomatic cables. In collaboration with a network of more than 100 press outlets [Wikileaks] revealed the full spectrum of techniques used by the United States to exert itself around the world. The young intelligence analyst Bradley Manning was detained as an alleged source. Manning has been detained without trial for 921 days. This is the longest pre-trial detention of a U.S. military soldier since at least the Vietnam War. U.S. military law says the maximum is 120 days. The material that Bradley Manning is alleged to have leaked has highlighted astonishing examples of U.S. subversion of the democratic process around the world, systematic evasion of accountability for atrocities and killings, and many other abuses. WikiLeaks released European Commission documents showing that Senator Lieberman and Congressman Peter T. King directly influenced decisions by PayPal, Visa and MasterCard to block donations to WikiLeaks. Since the release of the diplomatic cables, WikiLeaks has continued its operations despite the financial blockade. The information we've disclosed frustrates the controlled political discourse that is trumpeted by establishment media and Western governments to shape public perception. We will continue our fight against the financial blockade, and we will continue to publish. The Pentagon's threats against us do the United States a disservice and will not be heeded.

Note: We don't usually use Huffington Post as a source, but as no other major media carried this important and revealing article written by Wikileaks founder Julian Assange, we are including it here.

Central Intelligence Agency employees murdered military scientist Frank Olson in 1953 after he raised concerns about testing chemical and biological weapons on human subjects without their consent, according to a lawsuit brought by his two sons. Eric and Nils Olson, in a complaint filed against the U.S. yesterday in Washington, said the agency has covered up the cause of their father’s death for 59 years. Frank Olson, who the CIA admitted was given LSD a few days before his death, didn’t jump from a 13th floor window of the Statler Hotel in New York City, but rather was pushed, they claim. “The circumstances surrounding the death mirrored those detailed in an assassination manual that, upon information and belief, the CIA had drafted that same year,” Scott Gilbert, a lawyer for the Olsons, wrote in the complaint. Olson’s family has tried to piece together how Frank Olson died and the circumstances surrounding his death ever since a 1975 government report on CIA activities in the U.S. said that he committed suicide after being given LSD without his knowledge. Preston Golson, a CIA spokesman, said ... that the agency’s covert behavioral research program known as MK-ULTRA was investigated in 1975 by the Rockefeller Commission and the Church Committee, and in 1977 by the Senate Select Committee on Intelligence and the Senate Subcommittee on Health and Scientific Research. Olson’s sons said in the suit they have asked repeatedly “to be told the truth” about their father’s death. “Each time, the government has responded with falsehoods,” they said.

Note: For lots more on the CIA's Operation MK Ultra, click here. For more on Frank Olson and secret government mind control programs, click here. For deeply revealing reports from reliable major media sources on the games intelligence agencies play, click here.

On 20 November, district court Judge David D Dowd Jr sentenced three anarchists with the Occupy Cleveland movement to prison terms ranging from 8 to 11.5 years for attempting to bomb a highway bridge last spring. Shaquille Azir, a paid FBI informant with a 20-year criminal record, facilitated every step in the plot. Azir molded the five's childish bravado and drunken fantasies into terrorism. He played father figure to the lost men, providing them with jobs, housing, beer and drugs. Every time the scheme threatened to collapse into gutterpunk chaos, he kept it on track. FBI tapes reveal Azir led the brainstorming of targets, showed them bridges to case out, pushed them to buy C-4 military-grade explosives, provided the contact for weapons, gave them money for the explosives and demanded they develop a plan because "we on the hook" for the weapons. This case could have put on trial the post-September 11 strategy of "preventative prosecution", in which the FBI dispatches provocateurs to infiltrate targeted religious and political groups to see what they can stir up. Anarchists are inherently suspect. A recent FBI document calls anarchists "criminals seeking an ideology to justify their activities." Pardiss Kebriaei, a senior attorney specializing in national security at the Center for Constitutional Rights, claims standard operating procedure in terror cases "starts with surveillance and profiling on the basis of religion, politics and national origin". She notes parallels between the Cleveland anarchists and the "Newburgh Four", named for the upstate New York town in which the plot was hatched.

Note: For information on how to contact Brandon Baxter, Joshua Stafford, Connor Stevens and Douglas Wright, see cleveland4solidarity.org. For the Newburgh Four, see projectsalam.org For deeply revealing reports from reliable major media sources on entrapment operations and other manipulations by the FBI and intelligence agencies, click here.

A German man committed to a high-security psychiatric hospital after being accused of fabricating a story of money-laundering activities at a major bank is to have his case reviewed after evidence has emerged proving the validity of his claims. Gustl Mollath, 56, was submitted to the secure unit of a psychiatric hospital seven years ago after court experts diagnosed him with paranoid personality disorder following his claims that staff at the Hypo Vereinsbank (HVB) – including his wife, then an assets consultant at HVB – had been illegally smuggling large sums of money into Switzerland. Mollath was tried in 2006 after his ex-wife accused him of causing her physical harm. He denied the charges, claiming she was trying to sully his name in the light of the evidence he allegedly had against her. He was admitted to the clinic, where he has remained against his will ever since. But recent evidence brought to the attention of state prosecutors shows that money-laundering activities were indeed practiced over several years by members of staff at the Munich-based bank, the sixth-largest private financial institute in Germany. A number of employees, including Mollath's wife, were subsequently sacked following the bank's investigation. The "Mollath affair", as it has been dubbed by the German media, has taken on such political dimensions that it now threatens to bring down the government of Bavaria.

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

The U.S. Army Corps of Engineers plans to supervise construction of a five-story underground facility for an Israel Defense Forces complex, oddly named “Site 911,” at an Israeli Air Force base near Tel Aviv. Only U.S. construction firms are being allowed to bid on the contract and proposals are due Dec. 3, according to the latest Corps of Engineers notice. Site 911 is the latest in a long history of military construction projects the United States has undertaken for the IDF under the U.S. Foreign Military Sales program. The 1998 Wye River Memorandum between Israel and the Palestinian Authority has led to about $500 million in U.S. construction of military facilities for the Israelis, most of them initially in an undeveloped part of the Negev Desert. Over the years, the Corps has built underground hangers for Israeli fighter-bombers, facilities for handling nuclear weapons (though Israel does not admit having such weapons), command centers, training bases, intelligence facilities and simulators. Site 911 ... appears to be one of the largest projects. Each of the first three underground floors is to be roughly 41,000 square feet, according to the Corps notice. The lower two floors are much smaller and hold equipment. The purpose of Site 911 is far less clear.

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

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

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

When the people of Greece saw their democratically elected Prime Minister George Papandreou forced out of office in November of 2011 and replaced by an unelected Conservative technocrat, Lucas Papademos, most were unaware of the bigger picture of what was happening. Most of us in the United States were [equally] ignorant when, in 2008, [Congress] voted “yes” at the behest of Bush's Treasury Secretary Henry Paulsen and jammed through the biggest bailout of Wall Street in our nation’s history. But now, as the Bank of England ... announces that former investment banker Mark Carney will be its new chief, we can’t afford to ignore what’s happening around the world. Steadily – and stealthily – Goldman Sachs is carrying out a global coup d’etat. There’s one tie that binds Lucas Papademos in Greece, Henry Paulsen [and Timothy Geithner] in the United States, and Mark Carney in the U.K., and that’s Goldman Sachs. All were former bankers and executives at the Wall Street giant, all assumed prominent positions of power, and all played a hand after the global financial meltdown of 2007-08, thus making sure Goldman Sachs weathered the storm and made significant profits in the process. As Europe descends [into] economic crisis, Goldman Sachs's people are managing the demise of the continent. As the British newspaper The Independent reported earlier this year, the Conservative technocrats currently steering or who have steered post-crash fiscal policy in Greece, Germany, Italy, Belgium, France, and now the UK, all hail from Goldman Sachs. In fact, the head of the European Central Bank itself, Mario Draghi, was the former managing director of Goldman Sachs International.

Note: Once again truth-out.org carries this important article and vital information which no major media has covered. Strangely, the entire website went down for a while not long after the article was published. If the article cannot be found at the link above, click here. For deeply revealing reports from reliable major media sources on financial corruption, click here.

Most of the world's dictators share a common fear, and it's not of the United States, NATO, the United Nations or any outside entity. No, the force that most threatens them is social media. Originally designed as enhanced online chat forums for young Americans, Facebook, Twitter, blogs and the rest have spread around the world and are now being used as cudgels against authoritarian leaders in places like Vietnam, Russia, Belarus and Bahrain. In those states and so many others, the leaders are attacking tweeters and bloggers as if they were armed revolutionaries. And the repression is spreading. In India ... a 21-year-old medical student posted a mildly critical comment about a Hindu political figure who'd just died. Within 24 hours, police arrested her and a friend who had "liked" the student's Facebook post and charged them with engaging in hateful, offensive speech -- this in one of the world's strongest democracies. Recently, Ecuador's Supreme Court turned down an extradition request from Belarus for a blogger who fled there after the government charged him with fraud. Alexander Barankov had been blogging about widespread government corruption. Iran, not surprisingly, is even tougher. Bloggers are given long prison terms or sentenced to death, charged with "enmity against God" and subverting national security. But the sad truth is, the dictators whose people are the most repressed -- locked in abject poverty -- don't have to worry about the social-media problem.

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

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

For the last four years, Barack Obama has not only asserted, but aggressively exercised, the power to target for execution anyone he wants, including US citizens, anywhere in the world. He has vigorously resisted not only legal limits on this assassination power, but even efforts to bring some minimal transparency to the execution orders he issues. This claimed power has resulted in four straight years of air bombings in multiple Muslim countries in which no war has been declared – using drones, cruise missiles and cluster bombs – ending the lives of more than 2,500 people, almost always far away from any actual battlefield. They are typically targeted while riding in cars, at work, at home, and even while rescuing or attending funerals for others whom Obama has targeted. A substantial portion ... have been civilians, including dozens of children. President Obama was recently convinced that some limits and a real legal framework might be needed to govern the exercise of this assassination power. What was it that prompted Obama finally to reach this conclusion? It was the fear that he might lose the election, which meant that a Big, Bad Republican would wield these powers, rather than a benevolent, trustworthy, noble Democrat - i.e., himself. The core premise is that the political world is shaped by a clean battle of Good v. Evil. The side of Good is the Democratic Party; the side of Evil is the GOP. All political truths are ascertainable through this Manichean prism. It is genuinely inconceivable that a leader as noble, kind and wise as Barack Obama would abuse his assassination and detention powers.

Note: If any other nation were using drones to kill terrorists in the U.S. or Europe, there would be a huge public uproar. Why do people care so little about these indiscriminate killings elsewhere? For deeply revealing reports from reliable major media sources on drone killings and other war crimes committed by the US in its wars of aggression in the Middle East, Asia and Africa, click here.

This country's secret, worldwide war waged by drones may at long last be restrained by rules. But the writing of these guidelines will be overseen by President Obama, who has secretly handpicked human targets for years with few restraints. Drones barely rated a mention in the presidential campaign. But as the election drew close, nervous White House aides reportedly began debating written limitations on the use of the pilotless aircraft, which remain an off-the-books weapon. The idea, strange as it sounds, was to give the next president explicit guidance on how to use the lethal planes, which have figured in 300 strikes and killed an estimated 2,500 people in Africa, Asia and the Middle East. White House officials, according to a New York Times report, wanted a rulebook in case GOP candidate Mitt Romney won. With Obama's re-election, the urgency behind such drafting has tapered off. Obama has directed drones at human targets from a "kill list" given him by military and intelligence officials. There is no outside vetting, legal review or congressional consensus on the president's personal strike force. This is a nation of laws, due process and an expressed commitment to human rights. The White House owes the nation a clear explanation of the scope and limits of this use of deadly force.

Note: If any other nation were using drones to kill terrorists in the U.S. or Europe, there would be a huge public uproar. Why do people care so little about these indiscriminate killings elsewhere? For deeply revealing reports from reliable major media sources on drone killings and other war crimes committed by the US in its wars of aggression in the Middle East, Asia and Africa, click here.

A new Florida law that contributed to long voter lines and caused some to abandon voting altogether was intentionally designed by Florida GOP staff and consultants to inhibit Democratic voters, former GOP officials and current GOP consultants have told The Palm Beach Post. Republican leaders said in proposing the law that it was meant to save money and fight voter fraud. But a former GOP chairman and former Gov. Charlie Crist, both of whom have been ousted from the party, now say that fraud concerns were advanced only as subterfuge for the law's main purpose: GOP victory. Former Republican Party of Florida Chairman Jim Greer says he attended various meetings, beginning in 2009, at which party staffers and consultants pushed for reductions in early voting days and hours. "The Republican Party, the strategists, the consultants, they firmly believe that early voting is bad for Republican Party candidates," Greer told The Post. "It's done for one reason and one reason only. ... 'We've got to cut down on early voting because early voting is not good for us,"' Greer said he was told by those staffers and consultants. "They never came in to see me and tell me we had a (voter) fraud issue," Greer said. "It's all a marketing ploy." Greer's statements about the motivations for the party's legislative efforts, implemented by a GOP-majority House and Senate in Tallahassee in 2011, are backed by Crist — also now on the outs with the party — and two veteran GOP campaign consultants.

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

[There have been] more than 300 drone strikes and some 2,500 people killed by the Central Intelligence Agency and the military since Mr. Obama first took office. Mr. Obama and his advisers are still debating whether remote-control killing should be a measure of last resort against imminent threats to the United States, or a more flexible tool, available to help allied governments attack their enemies or to prevent militants from controlling territory. Though publicly the administration presents a united front on the use of drones, behind the scenes there is longstanding tension. The administration is still pushing to make the rules formal and resolve internal uncertainty and disagreement about exactly when lethal action is justified. The Defense Department and the C.I.A. continue to press for greater latitude to carry out strikes. The administration’s legal reasoning has not persuaded many other countries that the strikes are acceptable under international law. For years before the Sept. 11, 2001, attacks, the United States routinely condemned targeted killings of suspected terrorists by Israel, and most countries still object to such measures. Partly because United Nations officials know that the United States is setting a legal and ethical precedent for other countries developing armed drones, the U.N. plans to open a unit in Geneva early next year to investigate American drone strikes.

Note: For deeply revealing reports from reliable major media sources on atrocities carried out by the US in its illegal wars of aggression in the Middle East, Asia and Africa, click here.

WikiLeaks ... has never been charged by any government with any crime, let alone convicted of one. Despite that crucial fact, WikiLeaks has been crippled by a staggering array of extra-judicial punishment imposed either directly by the US and allied governments or with their clear acquiescence. In 2008, the Pentagon prepared a secret report ... that decreed WikiLeaks to be a "threat to the US Army" and an enemy of the US. That report plotted tactics that "would damage and potentially destroy" its ability to function. That is exactly what came to pass. In December 2010, after WikiLeaks began publishing US diplomatic cables, it was hit with cyber-attacks so massive that the group was "forced to change its web address after the company providing its domain name cut off service". Master Card and Visa both announced they would refuse to process payments to the group, as did America's largest financial institution, Bank of America. Acting in the name of Anonymous, a handful of activists targeted those companies with simple "denial of service" attacks, ones that impeded the operations of those corporate websites for a few hours. In stark contrast to the far more significant attacks aimed at WikiLeaks, these attacks, designed to protest the treatment of WikiLeaks, spawned a global manhunt by western nations and, ultimately, the arrest of dozens of mostly young alleged hackers, four of whom are now on trial in London. Last year, the FBI arrested 16 people in the US in connection with similar attacks on Master Card, Visa and Amazon, and charged them with crimes that carry 10-year prison terms.

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

For several decades, the US government - in annual "human rights" reports issued by the State Department (reports mandated by the US Congress) - has formally condemned nations around the globe for the practice of indefinite detention: imprisoning people without charges or any fixed sentence. [The] 2011 report condemned numerous nations for indefinite detention, including Libya ("abuse and lack of review in detention"), Uzbekistan ("arbitrary arrest and detention"), Syria ("arbitrary arrest and detention"), and Iran ("Authorities held detainees, at times incommunicado, often for weeks or months without charge or trial"). In Afghanistan and Iraq, the US government is engaged in a fierce and protracted battle over the fundamental right to be free of indefinite detention. Specifically, the US is demanding that the governments of those two nations cease extending this right to their citizens. The US has long been demanding that the Afghan government continue the American practice of indefinite detention without charges, and still presses this demand even after the top Afghan court in September ruled that such detentions violate Afghan law. Human rights workers in Afghanistan have long pointed out that America's practice of imprisoning Afghans without charges is a major source of anti-American sentiment in the country.

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

Two former confidants of Britain’s prime minister have been charged with conspiring to pay public officials in exchange for stories and information — the latest development in the country’s establishment-shaking scandal over media malfeasance. Britain’s Crown Prosecution Services [said] that former tabloid editors Andy Coulson and Rebekah Brooks were among five people being charged with conspiracy to commit misconduct in public office. Prosecutors said that Brooks, a neighbour, close friend, and political ally of Prime Minister David Cameron, conspired with journalist John Kay to funnel as much as Ł100,000 ($160,000) to Ministry of Defence employee Bettina Jordan Barber in return for seven years of stories that were published in Murdoch’s The Sun newspaper. The allegations cover 2004 to 2011, when Brooks was editor of The Sun and then in charge of News International, the parent company of Rupert Murdoch’s media empire. The prosecutors alleged that Coulson, who until last year served as Cameron’s top press aide, conspired in 2005 with former royal reporter Clive Goodman to pay officials for access to a royal phone directory known as the “Green Book.” The confidential directory includes home and office numbers for senior royals including two of Queen Elizabeth’s children, Prince Edward and Princess Anne, as well as the landline, office and mobile numbers of the royal household staff, the Telegraph reported.

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

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

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

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

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

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