Government Corruption Media Articles

Excerpts of Key Government Corruption Media Articles in Major Media

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Argentina began a long-awaited human rights trial [on March 5] focused on Operation Condor, the 1970s conspiracy launched by Chilean dictator Augusto Pinochet to enlist South America’s dictators in a combined effort to leave no refuge for their leftist critics. The 25 defendants include former Argentine junta leaders Rafael Videla, 87, and Reynaldo Bignone, 85, both already serving life sentences for multiple human rights violations during the 1976-1983 dictatorship. This time, the charges include criminal association, kidnapping and torture. Also on trial is a former Uruguayan army colonel, Manuel Cordero, who allegedly tortured prisoners inside Automotores Orletti, the Buenos Aires repair shop where many captured leftists were taken to be interrogated under orders from their home countries. More than 400 witnesses are expected to be called in the two-year trial, which involves 106 victims from at least four countries who were killed in Argentina. A key piece of evidence is a declassified FBI agent’s cable, sent in 1976, that described in detail the conspiracy to share intelligence and eliminate leftists across South America. The actual conspiracy went further than that: the U.S. government later determined that Chilean agents involved in Condor killed the country’s former ambassador Orlando Letelier and his U.S. aide Ronni Moffitt in Washington, D.C., in September 1976. Operation Condor grew to include the military governments of six countries: Chile, Argentina, Bolivia, Brazil, Paraguay and Uruguay.

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

Bradley Manning has confessed in open court to providing vast archives of military and diplomatic files to the antisecrecy group WikiLeaks, saying he wanted the information to become public "to make the world a better place". Appearing before a military judge for more than an hour on [Feb. 28], Private Manning read a statement recounting how he joined the military, became an intelligence analyst in Iraq, decided that certain documents should become known to the American public to prompt a wider debate about the Iraq War, and ultimately uploaded them to WikiLeaks. Before reading the statement, he pleaded guilty to 10 criminal counts in connection with the leak, which included videos of airstrikes in Iraq and Afghanistan in which civilians were killed, logs of military incident reports, assessment files of detainees held at Guantanamo Bay, Cuba, and 250,000 diplomatic cables. The guilty pleas exposed him to up to 20 years in prison. But the case against the slightly built, bespectacled 25-year-old – who has become a folk hero among antiwar and whistleblower advocacy groups – is not over. In a riveting personal history, Private Manning portrayed himself as thinking carefully about the categories of information he was divulging, excluding the sort that would harm the United States. He said he was initially concerned about diplomatic cables in particular, but after doing research learned that the most sensitive ones were not placed into the database to which he had access, and he concluded that those might prove "embarrassing" but would not cause harm.

Note: For deeply revealing reports from reliable major media sources on crimes committed in wars of aggression, click here.

The Government has secretly ramped up a controversial programme that strips people of their British citizenship on national security grounds with two of the men subsequently killed by American drone attacks. Since 2010, the Home Secretary, Theresa May, has revoked the passports of 16 individuals, many of whom are alleged to have had links to militant or terrorist groups. Critics of the programme warn that it allows ministers to wash their hands of British nationals suspected of terrorism who could be subject to torture and illegal detention abroad. They add that it also allows those stripped of their citizenship to be killed or rendered without any onus on the British Government to intervene. At least five of those deprived of their UK nationality ... were born in Britain, and one man had lived in the country for almost 50 years. Those affected have their passports cancelled, and lose their right to enter the UK making it very difficult to appeal. The leading human rights lawyer Gareth Peirce said the present situation smacked of mediaeval exile, just as cruel and just as arbitrary. Ian Macdonald QC, the president of the Immigration Law Practitioners Association, described the citizenship orders as sinister. Its not open government; its closed, and it needs to be exposed. Government officials act when people are out of the country on two occasions while on holiday before cancelling passports and revoking citizenships.

Note: For deeply revealing reports from reliable major media sources on crimes committed in wars of aggression, click here.

If Bradley Manning did what he is accused of doing, then he is a consummate hero, and deserves a medal and our collective gratitude, not decades in prison. At his court-martial proceeding [today] in Fort Meade, Manning ... pleaded guilty to having been the source of the most significant leaks to WikiLeaks. He also pleaded not guilty to 12 of the 22 counts, including the most serious - the capital offense of "aiding and abetting the enemy", which could send him to prison for life - on the ground that nothing he did was intended to nor did it result in harm to US national security. The US government will now almost certainly proceed with its attempt to prosecute him on those remaining counts. Spencer Ackerman was there and reported: "Manning's motivation in leaking, he said, was to 'spark a domestic debate on the role of the military and foreign policy in general', he said, and 'cause society to reevaluate the need and even desire to engage in counterterrorism and counterinsurgency operations that ignore their effect on people who live in that environment every day.' Manning is absolutely right when he said today that the documents he leaked "are some of the most significant documents of our time". They revealed a multitude of previously secret crimes and acts of deceit and corruption by the world's most powerful factions. Journalists and even some government officials have repeatedly concluded that any actual national security harm from his leaks is minimal if it exists at all. To this day, the documents Manning just admitted having leaked play a prominent role in the ability of journalists around the world to inform their readers about vital events.

Note: For deeply revealing reports from reliable major media sources on crimes committed in wars of aggression, click here.

The Federal Bureau of Investigation has a track record of attacking the undesirables of the time. In the early part of the 20th century, immigrants from Italy were the focus; in the 1940s, it was Japanese-Americans; in the 1950s, it was Americans who questioned U.S. foreign policy; in the 1960s, civil rights activists. Today, it's ... the Arab. It's the South Asian. And often, the FBI uses entrapment to create a terror case out of thin air and then claim to have foiled it. San Jose resident Matthew Llaneza, who converted to Islam in 2011, is accused of attempting to bomb a bank building in Oakland. However, many feel that the FBI used entrapment, which, in criminal law, is a legal defense. It is the act by law enforcement officers of inducing or encouraging a person to commit a crime when the potential criminal is not otherwise predisposed to committing the crime. Over the past several years, the FBI has repeatedly manufactured terror plots by targeting vulnerable members of the Arab, South Asian and Muslim communities. The target is usually an individual or a small group of people with a troubled past, psychological issues or financial problems. Llaneza's is a classic case of entrapment. [It] closely follows the pattern. [He] has a history of psychological problems. This presumed inability to make sound judgment is perfect for entrapment. His bombing plot seems to first emerge in a conversation with law enforcement, and his history of mental illness indicates he didn't have the capacity to commit acts of terror on his own.

Note: For deeply revealing reports from reliable major media sources on the games intelligence agencies play, click here.

It has been 10 long years since "Shock and Awe" – the opening bombardment of Baghdad – lit up the skies above the Tigris. Have we learned the lessons of that disastrous period? And what were those lessons? For nearly a year prior to the invasion, President Bush and his administration peppered the airwaves with serious accusations against Saddam Hussein. The intelligence supporting the claims was either not believed, or was highly disputed, by the experts. As a covert CIA operations officer working frantically in the months before the war to find and verify hard intelligence about Iraq's presumed WMD program, Valerie [Plame] was keenly interested in watching Secretary of State Colin Powell address the United Nations on 6 February 2003. As [she] watched the speech unfold on TV from CIA headquarters that morning, she experienced what can only be described as "cognitive dissonance". It became clear, as Powell laid out the case for war ... that his robust claims about the state of Iraqi WMD simply did not match the intelligence which she had worked on daily for months. Powell's claim from a discredited defector code-named "Curveball" on Iraq's biological weapons capability was particularly alarming. Valerie knew that "Curveball" had been deemed a "fabricator" by the agency, meaning that none of his intelligence could be believed. The implications suddenly become obvious: we were watching a kabuki play and the outcome was predetermined. The Bush administration was determined to go to war, however bad the intelligence, and not even Secretary of State Powell was going to stand in the way.

Note: For deeply revealing reports from reliable major media sources on crimes committed in wars of aggression, click here.

This month, the Department of Energy announced that a tank at the Hanford Nuclear Reservation in Washington state is leaking up to 300 gallons of radioactive waste a year. Nuclear sludge left over from Cold War plutonium production is drip-drip-dripping into American soil, infiltrating the groundwater, slowly making its way into our rivers. The leak is just another in a long line of mild disasters at America’s most contaminated nuclear-waste site, a radioactive drop in the already-polluted Columbia River. Hanford is the worst kind of mess: the kind that humanity is capable of making, but not capable of cleaning up. It was the home of the world’s first full-scale plutonium reactor and the epicenter of American nuclear production during the Cold War. Now the 586-square-mile campus is the subject of the largest environmental cleanup operation the United States government has ever undertaken. There are other sites in America with long nuclear histories—places like Oak Ridge, Los Alamos, Yucca Mountain. But none have become sprawling disasters with quite as much panache as Hanford. The human and environmental consequences of Hanford have spread beyond those borders, across Washington and Oregon. A decade ago a rash of radioactive tumbleweeds blew across the nearby plains. In the early 1960s, an irradiated whale was killed off the Oregon coast, having apparently been contaminated by nuclear waste flowing down the Columbia River.

Note: For deeply revealing reports from reliable major media sources on environmental and health devastation caused by the nuclear weapons and energy industry, click here.

The Justice Department "white paper" purporting to authorize Obama's power to extrajudicially execute US citizens was leaked three weeks ago. Since then, the administration - including the president himself and his nominee to lead the CIA, John Brennan - has been repeatedly asked whether this authority extends to US soil, i.e., whether the president has the right to execute US citizens on US soil without charges. In each instance, they have refused to answer. Brennan has been asked the question several times as part of his confirmation process. Each time, he simply pretends that the question has not been asked, opting instead to address a completely different issue. It's really worth pausing to remind ourselves of how truly radical and just plainly unbelievable this all is. What's more extraordinary: that the US Senate is repeatedly asking the Obama White House whether the president has the power to secretly order US citizens on US soil executed without charges or due process, or whether the president and his administration refuse to answer? That this is the "controversy" surrounding the confirmation of the CIA director - and it's a very muted controversy at that - shows just how extreme the degradation of US political culture is.

Note: For a revealing 27-minute documentary on drones which operate in swarms and pose serious ethical questions in both peace and war, click here.

The Texas Medical Center [is] a nearly 1,300-acre, 280-building complex of hospitals and related medical facilities, of which MD Anderson is the lead brand name. Medicine had obviously become a huge business. In fact, of Houston’s top 10 employers, five are hospitals, including MD Anderson with 19,000 employees. How did that happen? Where’s all that money coming from? And where is it going? I have spent the past seven months trying to find out by analyzing a variety of bills from hospitals like MD Anderson, doctors, drug companies and every other player in the American health care ecosystem. When you look behind the bills that ... patients receive, you see nothing rational — no rhyme or reason — about the costs they faced in a marketplace they enter through no choice of their own. The only constant is the sticker shock for the patients who are asked to pay. Yet those who work in the health care industry and those who argue over health care policy seem inured to the shock. Why exactly are the bills so high? What are the reasons ... that cancer means a half-million- or million-dollar tab? Why should a trip to the emergency room for chest pains that turn out to be indigestion bring a bill that can exceed the cost of a semester of college? What makes a single dose of even the most wonderful wonder drug cost thousands of dollars? Why does simple lab work done during a few days in a hospital cost more than a car? And what is so different about the medical ecosystem that causes technology advances to drive bills up instead of down?

Note: For the amazing answers to all these questions, read this detailed investigative report in its entirety at the link above. For more on corruption in the medical industry, click here.

The Center for Safer Wireless is claiming that Pepco's smart meters are emitting wireless radiation far more frequently than the power company admits. This comes one week after several Pepco customers told WUSA9 that they've been experiencing irregular heartbeats and headaches after a smart meter was installed at their home. Smart meters communicate with utility companies using wireless technology, which means they emit radio frequency radiation. The debate over the safety of smart meters is similar to the debate over cell phones and cancer. However, you can choose how often you use your cell phone. But with smart meters, you don't have a choice. Pepco customers in D.C. are not allowed to opt-out of the smart meter program. Therefore, the frequency with which those customers are exposed to this radiation is determined by Pepco. Desiree Jaworski, the interim director of the Center for Safer Wireless, believes it's happening far more frequently than the power company claims. This week, WUSA9 filmed Jaworski as she tested the radiation being emitted from three Pepco customers' smart meters. Pepco says that smart meter communications take place every four to six hours. But Jaworski says, "What I found at all three locations is that these smart meters are communicating - or emitting radiation - about four to six times a minute if not more." Jaworski's findings did not sit well with one of the homeowners, Lisa Crecelius. "It just comes across as very dishonest," said Crecelius.

Note: For more along these lines, see concise summaries of deeply revealing news articles on health and the risks and dangers of wireless technologies.

Should anyone, or any corporation, control a product of life? The journey of a 75-year-old Indiana farmer to the [Supreme Court] began rather uneventfully. Vernon Hugh Bowman purchased an undifferentiated mix of soybean seeds from a grain elevator, planted the seeds and then saved seed from the resulting harvest to replant another crop. Finding that Bowman's crops were largely the progeny of its genetically engineered proprietary soybean seed, Monsanto sued the farmer for patent infringement. The case [Bowman vs. Monsanto Co.] is a remarkable reflection on recent fundamental changes in farming. In the 200-plus years since the founding of this country, and for millenniums before that, seeds have been part of the public domain — available for farmers to exchange, save, modify through plant breeding and replant. Through this process, farmers developed a diverse array of plants that could thrive in various geographies, soils, climates and ecosystems. But today this history of seeds is seemingly forgotten in light of a patent system that, since the mid-1980s, has allowed corporations to own products of life. Although Monsanto and other agrochemical companies assert that they need the current patent system to invent better seeds, the counterargument is that splicing an already existing gene or other DNA into a plant and thereby transferring a new trait to that plant is not a novel invention. A soybean, for example, has more than 46,000 genes. Properties of these genes are the product of centuries of plant breeding and should not, many argue, become the product of a corporation. Instead, these genes should remain in the public domain.

Note: For deeply revealing reports from reliable major media sources on the destructive impacts of genetically modified organisms (GMOs), click here.

The world saw the meteor ... that exploded over the Ural Mountains city of Chelyabinsk on Feb. 15 ... thanks to the dashboard cameras that are so common in Russian cars. Russians use the devices because they cannot trust police, judges, insurance companies or witnesses in case of a fender bender. In the case of the meteor, however, the cameras were not enough to overcome mistrust. Liberal columnist Yulia Latynina was quick to publish a column in Novaya Gazeta, strongly suggesting that the fiery object in the sky was no celestial body but a misfired missile from a nearby testing ground where a military exercise was taking place. At the other end of the political spectrum, ultra- nationalist politician Vladimir Zhirinovsky suggested it was a U.S. missile that blew up over Chelyabinsk. “These are not meteors falling but Americans testing new weapons,” Zhirinovsky said, according to the RIA Novosti news agency. Why the trust deficit? Sociologist Lev Gudkov offered some explanation. Trust is higher in societies “with stable and open institutional systems,” and lower in societies “with a high level of violence, aggression, an authoritarian or totalitarian form of government.” In repressive societies, “mistrust becomes an important strategic resource for social survival, success and upward mobility.” In 2008, only 27 percent of Russians agreed that people were generally to be trusted, while 68 percent were in favor of caution. The situation was reversed in Denmark, with 70 percent trusting and 29 percent not so much. In the U.S., 42 percent trusted their fellow citizens and 57 percent believed them relatively untrustworthy.

It pays to be president, especially after leaving office. 24/7 Wall St. examined the finances of all 43 presidents to identify the richest. The only currently living president who makes the wealthiest list is Bill Clinton, who has an estimated net worth of $55 million. Clinton continues to make millions of dollars in speaking fees. President Obama is not one of the wealthiest presidents of all times. Yet his net worth increased from $5 million in 2010 to an estimated $7 million, primarily from his book sales. The net worth of the presidents varies widely. Washington amassed over half a billion in today's dollars, while other presidents went bankrupt. The first few presidents — from Washington's election to about 75 years later — were large landowners. They generally made money from land, crops and commodity speculation. By 1850, ... most presidents were lawyers who spent years in public service. They rarely amassed large fortunes and their incomes often came almost entirely from their salaries. James Buchanan, Abraham Lincoln, Andrew Johnson, Ulysses S. Grant, Rutherford B. Hayes and James A. Garfield had modest net worths when they died. [By] the beginning of the 20th [century] ... corporations in the oil, mining, financial and railroad sectors allowed individuals to amass large fortunes. Indeed, since the early 20th century, the fortunes of many presidents, including Theodore Roosevelt, Franklin D. Roosevelt, John F. Kennedy, George and George W. Bush were driven by inherited wealth.

Note: For more on government corruption, see the deeply revealing reports from reliable major media sources available here.

Drone war proponents are facing inconvenient truths. This month, for instance, they are facing a new United Nations report showing that President Obama's escalation of the Afghanistan War - in part by an escalation in drone air strikes - is killing hundreds of children "due notably to reported lack of precautionary measures and indiscriminate use of force." Drone-war cheerleaders will no doubt find this news difficult to explain away. Sen. Angus King [justified] the drone war earlier this month. "Drones are a lot more civilized than what we used to do," he told a cable television audience. "I think it's actually a more humane weapon because it can be targeted to specific enemies and specific people." Designed to obscure mounting civilian casualties, King's phrase "humane weapon" is the crux of the larger argument. The idea is that an intensifying drone war is necessary - and even humane! - because it is more surgical than violent global ground war, which is supposedly America's only other option. In a country whose culture so often (wrongly) portrays bloodshed as the most effective problem solver, many Americans hear this now-ubiquitous drone-war argument and reflexively agree with its suppositions. By deliberately ignoring any other less violent option, drone-war proponents who employ choice-narrowing language are ... precluding America from making more prudent, informed and dispassionate national security decisions - the kind that might stop us from repeating the worst mistakes of our own history.

Note: For a revealing 27-minute documentary on drones which operate in swarms and pose serious ethical questions in both peace and war, click here.

NBC News National Investigative Correspondent Michael Isikoff co-authored the best-selling book Hubris: The Inside Story of Spin, Scandal, and the Selling of the Iraq War with David Corn. Their book is the basis for the new MSNBC documentary, "Hubris: Selling the Iraq War". The reporting ... at a time when the movie "Zero Dark Thirty" has drawn attention to the issue, shows viewers the role that torture played in intelligence-gathering after 9/11. The real-life role of torture in pre-Iraq war intelligence, which is reported in Hubris, has far scarier implications than the Hollywood version. MSNBC: What was the single most shocking thing you discovered? [Isikoff:] I still find the Ibn Shaykh al-Libi story ... the most shocking of all. At first, he’s questioned by the FBI–then “rendered” by the CIA in early 2002 to Egypt, where he was subjected to torture: beatings [and] a mock burial. He suddenly coughed up a story–that Iraq was training al-Qaida members in chemical and biological weapons–that nobody in the U.S. intelligence community really believed. The CIA internally even wrote an assessment concluding that al-Libi was likely fabricating much of what he told the Egyptians. Yet suddenly in September 2002, the White House starts using the claim that Iraq is training al-Qaida in “poisons and gases”–a claim based entirely on al-Libi. After the war, al-Libi is returned to U.S. custody and recants the whole thing, saying he made it up because the Egyptians were torturing him. Anybody who saw "Zero Dark Thirty" and thinks it vindicates waterboarding and other “enhanced interrogation techniques” should watch "Hubris".

Note: For deeply revealing reports from reliable major media sources on torture and other war crimes committed by the US, click here.

Many people became rightfully upset about bailouts given to big banks during the mortgage crisis. But it turns out that they are still going on, if more quietly, through the back door. The existence of one such secret deal, struck in July between the Federal Reserve Bank of New York and Bank of America, came to light just last week in court filings. Not only do the filings show the New York Fed helping to thwart another institution’s fraud case against the bank, they also reveal that the New York Fed agreed to give away what may be billions of dollars in potential legal claims. The New York Fed said in a court filing that in July it had released Bank of America from all legal claims arising from losses in some mortgage-backed securities the Fed received when the government bailed out the American International Group in 2008. One surprise in the filing, which was part of a case brought by A.I.G., was that the New York Fed let Bank of America off the hook even as A.I.G. was seeking to recover $7 billion in losses on those very mortgage securities. What did the New York Fed get from Bank of America in this settlement? Some $43 million, it seems, from a small dispute the New York Fed had with the bank on two of the mortgage securities. At the same time, and for no compensation, it released Bank of America from all other legal claims. For zero compensation, the New York Fed released Bank of America from what may be sizable legal claims, knowing that A.I.G. was trying to recover on those claims.

Note: For deeply revealing reports from reliable major media sources on the collusion between regulators and financial corporations, click here.

After campaigning last year as an outspoken consumer advocate and Wall Street critic, Senator Elizabeth Warren was surprisingly quiet during her first month on Capitol Hill. But that changed on [Feb. 14] at the Massachusetts senior senator’s first hearing, when she rebuked federal regulators for settling civil cases with big banks instead of taking them to trial. Looking at the seven regulators arrayed before the Senate Banking Committee, and noting that she had often sat at the same witness table before becoming a senator, she used her new power to question why the federal government has not been more aggressive. “The question I really want to ask is about how tough you are — about how much leverage you really have,” Warren said. “Tell me a little bit about the last few times you’ve taken the biggest financial institutions on Wall Street all the way to trial.” None of the witnesses — representing the Securities and Exchange Commission, the Commodity Futures Trading Commission and others — offered a response. Warren seized the hearing to chide regulators for not taking legal stands against Wall Street, saying that the threat of trial is an important tool in keeping big banks in line, despite the vast resources required to do so. “If a party is unwilling to go to trial — either because they’re too timid or they lack resources — the consequence is they have a lot less leverage,” Warren said. “If [banks] can break the law and drag in billions in profits and then turn around and settle paying out of those profits, they don’t have that much incentive to follow the law.”

Note: For deeply revealing reports from reliable major media sources on the corrupt regulation of financial activities, click here.

Jaime Rosenthal, a senior at Washington University in St. Louis, called more than 100 hospitals in every state last summer, seeking prices for a hip replacement for a 62-year-old grandmother who was uninsured but had the means to pay herself. Only about half of the hospitals, including top-ranked orthopedic centers and community hospitals, could provide any sort of price estimate, despite repeated calls. Those that could gave quotes that varied by a factor of more than 10, from $11,100 to $125,798. Rosenthal's grandmother was fictitious, created for a summer research project on health care costs. But the findings, which form the basis of a paper released Monday by JAMA Internal Medicine, [highlight] the unsustainable growth of U.S. health care costs and an opaque medical system in which prices are often hidden from consumers. Although many experts have said that Americans must become more discerning consumers to help rein in health care costs, the study illustrates how hard that can be. Researchers emphasized that studies have found little consistent correlation between higher prices and better quality in U.S. health care. Cram said there was no data that "Mercedes" hip implants were better than cheaper options, for example. Jamie Court, the president of Consumer Watchdog in Santa Monica, said: "If one hospital can put in a hip for $12,000, then every hospital should be able to do it." With such immense variation in prices, he said, "There is no real price. It's about profit."

Note: For deeply revealing reports from reliable major media sources on corruption in the health care industry, click here.

The "who knew?" defense [was] thrown down by financial institutions and their senior executives to ward off accusations that they were somehow responsible for the disaster that befell the country. That defense is now crumbling by the day, thanks in part to their own employees' admissions. Citing internal e-mails, California joined the federal government and 15 other states this week in filing multibillion-dollar civil fraud lawsuits against the nation's leading credit ratings agency, Standard & Poor's, for allegedly deliberately "downplaying and disregarding the true extent of the credit risks" of the financial instruments it had rated as rock-solid. S&P says the charges are "without factual or legal merit," while adding that it, "like everyone else, did not predict the speed and severity of the coming crisis and how credit quality would ultimately be affected." Stack that up against an S&P executive who warned in an internal memo in December 2006, "This market is a wildly spinning top which is going to end badly." Or the 2007 e-mail from an analyst that read, "Job's going great, aside from the fact that the MBS (residential mortgage-backed securities) is crashing." Foreknowledge seemed to be apparent at JPMorgan Chase and Morgan Stanley as well. Internal documents in a lawsuit filed by Dexia SA, a French-Belgian bank, alleging "egregious fraud" by JPMorgan in the sale of $1.7 billion of mortgage-backed bonds, suggested executives at JPMorgan, Bear Stearns and Washington Mutual ... intentionally covered up the unworthiness of the securities they were selling.

Note: For deeply revealing reports from reliable major media sources on the criminal practices of the financial industry, click here.

The global investigation into interest-rate manipulation has emboldened prosecutors to crack down on banks, and the settlement with the Royal Bank of Scotland on [Feb. 6] underscored that strategy. As part of the $612 million deal that American and British authorities reached with R.B.S., the bank’s Japanese unit was required to plead guilty to criminal wrongdoing, echoing an earlier action taken against a subsidiary of UBS. The cases announced so far give other banks some idea of what to expect. Three questions come into play: how much it will cost, whether a guilty plea will be required and whether embarrassing e-mails will be released. The winners in all this may be the lawyers and other advisers. The trove of internal e-mails and employee interviews, filed as part of a lawsuit by one of the investors in the securities, offers a fresh glimpse into Wall Street’s mortgage machine, which churned out billions of dollars of securities that later imploded. The documents reveal that JPMorgan, as well as two firms the bank acquired during the credit crisis, Washington Mutual and Bear Stearns, flouted quality controls and ignored problems, sometimes hiding them entirely, in a quest for profit.

Note: For deeply revealing reports from reliable major media sources on the criminal practices of the financial industry, 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.