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Revealing News For a Better World

Government Corruption Media Articles
Excerpts of Key Government Corruption Media Articles in Major Media


Below are key excerpts of revealing news articles on government 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: 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.


Purity of Federal 'Organic' Label Is Questioned
2009-07-03, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/07/02/AR20090702033...

Three years ago, U.S. Department of Agriculture employees determined that synthetic additives in organic baby formula violated federal standards and should be banned from a product carrying the federal organic label. Today the same additives, purported to boost brainpower and vision, can be found in 90 percent of organic baby formula. The government's turnaround, from prohibition to permission, came after a USDA program manager was lobbied by the formula makers and overruled her staff. That decision and others by a handful of USDA employees, along with an advisory board's approval of a growing list of non-organic ingredients, have helped numerous companies win a coveted green-and-white "USDA Organic" seal on an array of products. Grated organic cheese, for example, contains wood starch to prevent clumping. Organic beer can be made from non-organic hops. Relaxation of the federal standards, and an explosion of consumer demand, have helped push the organics market into a $23 billion-a-year business, the fastest growing segment of the food industry. Half of the country's adults say they buy organic food often or sometimes, according to a survey last year by the Harvard School of Public Health. But the USDA program's shortcomings mean that consumers, who at times must pay twice as much for organic products, are not always getting what they expect: foods without pesticides and other chemicals, produced in a way that is gentle to the environment. "It will unravel everything we've done if the standards can no longer be trusted," said Sen. Patrick J. Leahy (D-Vt.), who sponsored the federal organics legislation. "If we don't protect the brand, the organic label, the program is finished. It could disappear overnight."

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


Senate Bill Would Fine People More Than $1,000 for Refusing Health Care Coverage
2009-07-02, Fox News/Associated Press
http://www.foxnews.com/politics/2009/07/02/senate-democrats-trim-cost-health-...

Americans who refuse to buy affordable medical coverage could be hit with fines of more than $1,000 under a health care overhaul bill unveiled Thursday by key Senate Democrats looking to fulfill President Barack Obama's top domestic priority. The Congressional Budget Office estimated the fines will raise around $36 billion over 10 years. Senate aides said the penalties would be modeled on the approach taken by Massachusetts, which now imposes a fine of about $1,000 a year on individuals who refuse to get coverage. Under the federal legislation, families would pay higher penalties than individuals. In a revamped health care system envisioned by lawmakers, people would be required to carry health insurance just like motorists must get auto coverage now. The government would provide subsidies for the poor and many middle-class families, but those who still refuse to sign up would face penalties. Called "shared responsibility payments," the fines would be set at least half the cost of basic medical coverage, according to the legislation. The goal is to nudge people to sign up for coverage when they are healthy, not wait until they get sick. The legislation would exempt certain hardship cases from fines. The fines would be collected through the income tax system. Obama wants a bill this year that would provide coverage to the nearly 50 million Americans who lack it and reduce medical costs. In a statement, Obama welcomed the legislation, saying it "reflects many of the principles I've laid out." The government's costs would be covered by a combination of higher taxes and cuts in projected Medicare and Medicaid spending.

Note: How can Congress even consider forcing people to buy insurance with threat of a major fine? What happened to the country of freedom and liberty? And is the people or the HMOs who benefit here?


To Critics, New Policy on Terror Looks Old
2009-07-02, New York Times
http://www.nytimes.com/2009/07/02/us/02gitmo.html

Civil libertarians recently accused President Obama of acting like former President George W. Bush, citing reports about Mr. Obama’s plans to detain terrorism suspects without trials on domestic soil after he closes the Guantánamo prison. It was only the latest instance in which critics have argued that Mr. Obama has failed to live up to his campaign pledge “to restore our Constitution and the rule of law” and raised a pointed question: Has he, on issues related to fighting terrorism, turned out to be little different from his predecessor? Mr. Obama’s critics say that ... the core problem with Mr. Bush’s approach ... was that it trammeled individual rights. And they say Mr. Obama’s policies have not changed that. “President Obama may mouth very different rhetoric,” said Anthony D. Romero, executive director of the American Civil Liberties Union. “He may have a more complicated process with members of Congress. But in the end, there is no substantive break from the policies of the Bush administration.” Mr. Obama has also drawn fire from human rights advocates for fighting to prevent detainees in Afghanistan from having habeas corpus rights. Mr. Obama has also continued other Bush-era policies ... like the C.I.A.’s “extraordinary rendition” program ... and the invocation of the “state secrets” privilege to shut down some lawsuits. Jack Balkin, a Yale Law School professor, said Mr. Obama’s ratification of the basic outlines of the surveillance and detention policies he inherited would reverberate for generations. By bestowing bipartisan acceptance on them, Mr. Balkin said, Mr. Obama is consolidating them as entrenched features of government. “What we are watching,” Mr. Balkin said, “is a liberal, centrist, Democratic version of the construction of these same governing practices.”

Note: For revealing media articles from reliable sources on the hidden realities of never-ending "war on terror", click here.


Missing Moon-Landing Videotapes May Have Been Found
2009-06-30, Fox News
http://www.foxnews.com/story/0,2933,529476,00.html

Just in time for the 40th anniversary of the first moon landing, NASA may have found the long-lost original Apollo 11 videotapes. Back on July 20, 1969, the raw video feed from the moon was beamed to the Parkes Observatory radio telescope in southeastern Australia, and then compressed and sent to Mission Control in Houston. Because of technical issues, NASA's images couldn't be fed directly to the TV networks. Instead, the grayish, blotchy images Americans saw on their TV sets were the result of a regular TV camera pointed at the huge wall monitor in Houston – a copy of a copy, in effect. Those images survive, and anyone can see them on YouTube. But the original, sharp, black-and-white tapes that were recorded at Parkes vanished. NASA had thought they'd been shipped to the Goddard Space Flight Center in Greenbelt, Md., But a search there a couple of years ago turned up nothing. Around the same time, though, a cache of tapes containing data from moon-surface experiments from the entire Apollo program was discovered in a university basement in Perth, Western Australia, on the other side of the country from Parkes. According to the Sunday Express, NASA has combed through those tapes and found the original Apollo 11 video footage. "We're talking about the same tapes," an unnamed NASA spokesman told the newspaper, though he added that "at this point, I'm not prepared to discuss what has or has not been found."

Note: Isn't it amazing that NASA could lose these invaluable tapes? There are many strange questions surrounding this issue.


White House Weighs Order on Detention
2009-06-27, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/26/AR20090626033...

Obama administration officials ... are crafting language for an executive order that would reassert presidential authority to incarcerate terrorism suspects indefinitely, according to three senior government officials with knowledge of White House deliberations. Such an order would embrace claims by former president George W. Bush that certain people can be detained without trial for long periods under the laws of war. In a May speech, President Obama broached the need for a system of long-term detention and suggested that it would include congressional and judicial oversight. "We must recognize that these detention policies cannot be unbounded. They can't be based simply on what I or the executive branch decide alone," he said. A senior Republican [Congressional] staff member said that senators have yet to see "a comprehensive, detailed policy" on long-term detention from the administration. "They can do it without congressional backing, but I think there would be very strong concerns," the staff member said, adding that "Congress could cut off funding" for any detention system established in the United States. Concerns are growing among Obama's advisers that Congress may try to assert too much control over the process. "Legislation could kill Obama's plans," said one government official involved. The official said an executive order could be the best option for the president at this juncture. Under one White House draft that was being discussed this month, according to administration officials, detainees would be imprisoned at a military facility on U.S. soil, but their ongoing detention would be subject to annual presidential review.

Note: Again the Obama administration is following in the footsteps of the Bush administration, despite prior promises not to do so. For more on threats to civil liberties from reliable sources, click here.


New Fed powers not matched with accountability
2009-06-25, Reuters News
http://www.reuters.com/article/topNews/idUSTRE55O6EZ20090625

President Barack Obama's proposal for a regulatory overhaul of the financial industry vastly expands the reach of the Federal Reserve, yet fails to make policy-makers more accountable for their actions. Critics argue that the new legislation fundamentally misses the problems that led to the financial crisis. It was a lack of enforcement by supervisors, they say, not insufficient rules, that fostered a cowboy culture of rampant risk-taking on Wall Street. "Obama is letting the Fed and everyone else off the hook by saying that the problem was with the regulations and not the regulators," said Dean Baker, co-director of the Center for Economic Policy Research in Washington. "If regulators know that even if they totally fail on the job, they will face no career consequences, then at some future point, when there is a choice between confronting the financial industry or just going along, the regulators will just go along," said Baker. Some feel uncomfortable with a broader role for the Fed primarily because of the Fed's closeness to the banking sector. The Fed is not technically a public entity. Each of the Fed's 12 branches are overseen by a nine-member board of directors, two-thirds of whom are elected by the bankers in the district. "The Federal Reserve has massive conflicts of interest that make it ill-suited for its present regulatory functions and certainly for an expanded regulatory reach," said Robert Auerbach, a professor of public affairs at the University of Texas at Austin. "The officials leading the Fed today preside over an organization that is run in substantial part by the bankers they regulate."

Note: For empowering insight into the historic roots of the Federal Reserve's unaccountability, click here.


Lawmaker accuses Fed of "cover-up" in BofA deal
2009-06-25, Boston Globe/Reuters News
http://www.boston.com/business/articles/2009/06/25/lawmaker_accuses_fed_of_co...

The Federal Reserve sought to hide its involvement in Bank of America Corp's acquisition of Merrill Lynch as Merrill's financial condition worsened, the top Republican on the House Oversight and Government Reform Committee said on Wednesday. The Fed "engaged in a cover-up and deliberately hid concerns and pertinent details regarding the merger from other federal regulatory agencies," Representative Darrell Issa said in a statement released to Reuters. Bernanke has in the past denied any inappropriate pressure on Bank of America. Fed spokeswoman Michelle Smith on Wednesday referred to a letter Bernanke sent Representative Dennis Kucinich on April 30 and later testimony in which he offered an "unconditional assertion" that he did not ask Bank of America CEO Ken Lewis to withhold information regarding Merrill. The Democrat who heads the committee, Edolphus Towns of New York, has called Bernanke to testify on Thursday. Former U.S. Treasury Secretary Henry Paulson has also been called to testify before Congress next month about the Bank of America-Merrill Lynch transaction. After rescuing Bank of America in January, U.S. regulators tightened their grip on the bank with a secret agreement that contributed to the ongoing shakeup of its directors and executives, the Wall Street Journal said, citing people familiar with the matter. The paper, citing internal documents, added that Federal Deposit Insurance Corp. Chairman Sheila Bair wrote to Bernanke before the aid to the bank was unveiled to express the FDIC's "discomfort" with the deal..

Note: For a treasure trove on the hidden realities of the governmental bailout of Wall Street, click here.


'If I didn't confess to 7/7 bombings MI5 officers would rape my wife,' claims torture victim
2009-06-25, Daily Mail (a popular U.K. newspaper)
http://www.dailymail.co.uk/news/article-1195484/If-I-didnt-confess-7-7-bombin...

A British man spoke publicly for the first time yesterday to accuse MI5 officers of forcing him to confess to masterminding the July 7 bombings. Jamil Rahman claims UK security officers were behind his arrest in 2005 in Bangladesh. He says he was beaten repeatedly by local officials who also threatened to rape him and his wife. Mr Rahman, who is suing the Home Office, said a pair of MI5 officers who attended his torture and interrogation would leave the room while he was beaten. He claims when he told the pair he had been tortured they merely answered: 'They haven't done a very good job on you.' Mr Rahman told the BBC: 'They threatened my family. They go to me, "In the UK, gas leaks happen, if your family house had a gas leak and everyone got burnt, there's no problems, we can do that easily".' He says he eventually made a false confession of involvement in the July 7 bomb plots. The extraordinary allegations will add to pressure on UK ministers to come clean over the way Britain's intelligence agencies have been allowed to gather evidence around the world in the eight years since the September 11 attacks. Jamil Rahman, a former civil servant from south Wales, is a British citizen who moved to Bangladesh in 2005 and married a woman he met there. He returned to the UK last year. He said: 'It was all to do with the British. Jamil Rahman is one of a number of former detainees who accuse the British Government colluded in their torture abroad. His account echoes that of former Guantanamo Bay detainee Binyam Mohamed, who said he was tortured in Pakistan and Morocco with MI5's knowledge. The 30-year-old Ethiopian says he was beaten and deprived of sleep to try to make him confess to an Al Qaeda 'dirty bomb' plot, and his treatment is now the subject of an unprecedented police investigation into MI5's conduct.

Note: For lots more on the hidden strategies used to maintain the "war on terror", click here.


D.C. Crash Kills General Who Scrambled Jets on 9/11
2009-06-24, Bloomberg News
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aGu5lX16VTk8

David F. Wherley Jr., the head of the Washington National Guard who scrambled jets over the city during the 9/11 terrorist attacks, was among those killed in the worst commuter train crash in the city’s history, officials said. Wherley’s wife, Ann, was also among the nine people killed when a train plowed into the rear of a stopped train during rush hour on June 22, Quintin Peterson, a spokesman for the Metropolitan Police Department, said in a telephone interview. Both were 62 and lived in southeast Washington. Wherley was commander of the 113th Fighter Wing at Andrews Air Force base in Maryland during the September 2001 terrorist attacks and sent up aircraft with orders to protect the White House and the Capitol, according to the 9/11 Commission report. He commanded the District of Columbia National Guard from 2003 to 2008, the unit said in a statement. Wherley flew T-38 training jets and F-105 Thunderchief and F-4 Phantom combat jets during a military career that began in 1969, according to the guard’s statement. It said he earned a bachelor’s degree in economics from Fordham University in New York City in 1969, and a master’s in business administration from the University of Maryland in 1977.

Note: Could there be something more than a mere accident behind the death of the commander of the air defense forces over Washington DC on 9/11? Many questions continue to swirl concerning what was in the air over the city that morning, what was launched by Gen. Wherley and when, and why no interception of an attack aircraft approaching the Pentagon occurred. He knew more than the public does about what really took place in those crucial hours, but he will now not be available for questioning should a real investigation into the 9/11 attacks take place. For lots more on the suspicions that surround the official explanation and calls by highly respected citizens for just such an investigation, click here and here.


Only a Hint of Roosevelt in Financial Overhaul
2009-06-18, New York Times
http://www.nytimes.com/2009/06/18/business/18nocera.html

Three quarters of a century ago, President Franklin Roosevelt earned the undying enmity of Wall Street when he used his enormous popularity to push through a series of radical regulatory reforms that completely changed the norms of the financial industry. Wall Street hated the reforms, of course, but Roosevelt didn’t care. Wall Street and the financial industry had engaged in practices they shouldn’t have, and had helped lead the country into the Great Depression. Those practices had to be stopped. To the president, that’s all that mattered. On Wednesday, President Obama unveiled what he described as “a sweeping overhaul of the financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression.” In terms of the sheer number of proposals, outlined in an 88-page document the administration released on Tuesday, that is undoubtedly true. But in terms of the scope and breadth of the Obama plan — and more important, in terms of its overall effect on Wall Street’s modus operandi — it’s not even close to what Roosevelt accomplished during the Great Depression. Rather, the Obama plan is little more than an attempt to stick some new regulatory fingers into a very leaky financial dam rather than rebuild the dam itself. Everywhere you look in the plan, you see the same thing: additional regulation on the margin, but nothing that amounts to a true overhaul. The plan places enormous trust in the judgment of the Federal Reserve — trust that critics say has not really been borne out by its actions during the Internet and housing bubbles. Firms will have to put up a little more capital, and deal with a little more oversight, but once the financial crisis is over, it will, in all likelihood, be back to business as usual.

Note: To watch the Inspector General of the Federal Reserve testify to Congress that she knows pracitcally nothing of trillions of dollars that are unaccounted for, click here. For many revealing reports from reliable sources on the hidden realities of the continuing taxpayer bailout of the biggest financial corporations, click here.


Inventory Uncovers 9,200 More Pathogens
2009-06-18, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/17/AR20090617032...

An inventory of potentially deadly pathogens at Fort Detrick's infectious disease laboratory found more than 9,000 vials that had not been accounted for, Army officials said yesterday, raising concerns that officials wouldn't know whether dangerous toxins were missing. After four months of searching about 335 freezers and refrigerators at the U.S. Army Medical Research Institute of Infectious Diseases in Frederick, investigators found 9,220 samples that hadn't been included in a database of about 66,000 items listed as of February, said Col. Mark Kortepeter, the institute's deputy commander. The vials contained some dangerous pathogens, among them the Ebola virus, anthrax bacteria and botulinum toxin, and less lethal agents such as Venezuelan equine encephalitis virus and the bacterium that causes tularemia. Most of them, forgotten inside freezer drawers, hadn't been used in years or even decades. Officials said some serum samples from hemorrhagic fever patients dated to the Korean War. The overstock and the previous inaccuracy of the database raised the possibility that someone could have taken a sample outside the lab with no way for officials to know something was missing. The institute has been under pressure to tighten security in the wake of the 2001 anthrax attacks, which killed five people and sickened 17. FBI investigators say they think the anthrax strain used in the attacks originated at the Army lab, and its prime suspect, Bruce E. Ivins, researched anthrax there. Ivins committed suicide last year during an investigation into his activities.

Note: Fort Detrick is the home of the government lab which is suspected to be involved with the creation of many previously unknown lethal viruses and germs. For lots more, see the excellent work of Dr. Leonard Horowitz at this link and this one.


Pentagon Exam Calls Protests 'Low-Level Terrorism,' Angering Activists
2009-06-17, Fox News
http://www.foxnews.com/story/0,2933,526972,00.html

A written exam administered by the Pentagon labels "protests" as a form of “low-level terrorism” – enraging civil liberties advocates and activist groups who say it shows blatant disregard of the First Amendment. The written exam, given as part of Department of Defense employees’ routine training, includes a multiple-choice question that asks: “Which of the following is an example of low-level terrorism?” – Attacking the Pentagon – IEDs – Hate crimes against racial groups – Protests. The correct answer, according to the exam, is "Protests." “Its part of a pattern of equating dissent and protest with terrorism," said Ann Brick, an attorney with the American Civil Liberties Union, which obtained a copy of the question after a Defense Department employee who was taking the test printed the screen on his or her computer terminal. "It undermines the core constitutional values the Department of Defense is supposed to be defending,” Brick said, referring to the First Amendment right to peaceably assemble. She said the ACLU has asked the Defense Department to remove the question and send out a correction to all employees who took the exam. “There were other employees who were unhappy with it and disturbed by it,” Brick said. Anti-war protesters, who say they have been targets of federal surveillance for years, were livid when they were told about the exam question. “That’s illegal,” said George Martin, national co-chairman of United for Peace and Justice. “Protest in terms of legal dissent has to be recognized, especially by the authorities. It’s not terrorism or a lack of patriotism. We care enough to be active in our government.”

Note: For lots more on the continually-escalating government threats to civil liberties, click here.


E-Mail Surveillance Renews Concerns in Congress
2009-06-17, New York Times
http://www.nytimes.com/2009/06/17/us/17nsa.html

The National Security Agency is facing renewed scrutiny over the extent of its domestic surveillance program, with critics in Congress saying its recent intercepts of the private telephone calls and e-mail messages of Americans are broader than previously acknowledged, current and former officials said. Since April, when it was disclosed that the intercepts of some private communications of Americans went beyond legal limits in late 2008 and early 2009, several Congressional committees have been investigating. Those inquiries have led to concerns in Congress about the agency’s ability to collect and read domestic e-mail messages of Americans on a widespread basis, officials said. Supporting that conclusion is the account of a former N.S.A. analyst who, in a series of interviews, described being trained in 2005 for a program in which the agency routinely examined large volumes of Americans’ e-mail messages without court warrants. Two intelligence officials confirmed that the program was still in operation. Both the former analyst’s account and the rising concern among some members of Congress about the N.S.A.’s recent operation are raising fresh questions about the spy agency. Representative Rush Holt, Democrat of New Jersey and chairman of the House Select Intelligence Oversight Panel, has been investigating the incidents and said he had become increasingly troubled by the agency’s handling of domestic communications. In an interview, Mr. Holt disputed assertions by Justice Department and national security officials that the overcollection was inadvertent. “Some actions are so flagrant that they can’t be accidental,” Mr. Holt said.

Note: For lots more from major media sources on the ever-increasing government and coroporate threats to privacy, click here.


Swine flu shots may go to kids first, Sebelius says
2009-06-16, USA Today/Associated Press
http://www.usatoday.com/news/health/2009-06-16-swine-flu-vaccine_N.htm

Schoolchildren could be first in line for swine flu vaccine this fall — and schools are being put on notice that they might even be turned into shot clinics. Health and Human Services Secretary Kathleen Sebelius said Tuesday she is urging school superintendents around the country to spend the summer preparing for that possibility, if the government goes ahead with mass vaccinations. "If you think about vaccinating kids, schools are the logical place," Sebelius told The Associated Press. No decision has been made yet on whether and how to vaccinate millions of Americans against the new flu strain that the World Health Organization last week formally dubbed a pandemic, meaning it now is circulating the globe unchecked. But the U.S. is pouring money into development of a vaccine in anticipation of giving at least some people the shots. While swine flu doesn't yet seem any more lethal than the regular flu that each winter kills 36,000 people in the U.S. alone, scientists fear it may morph into a more dangerous type. Even in its current form, the WHO says about half of the more than 160 people worldwide killed by swine flu so far were previously young and healthy. If that trend continues, "the target may be school-age children as a first priority" for vaccination, Sebelius said Tuesday. "That's being watched carefully." The last mass vaccination against a different swine flu, in the U.S. in 1976, was marred by reports of a paralyzing side effect — for a feared outbreak that never happened. The secretary said: "The worst of all worlds is to have the vaccine cause more damage than the flu potential."

Note: This article admits "swine flu doesn't yet seem any more lethal than the regular flu that each winter kills 36,000 people in the U.S. alone." Be very cautious around any vaccination campaign. Vaccines are extremely poorly regulated and known to fill the wallets of rich politicians invested in them. For lots more reliable, verifiable information on this, click here.


Torture, the painful truth
2009-06-15, Los Angeles Times
http://www.latimes.com/news/opinion/la-oe-ehrenreich15-2009jun15,0,512919.story

Perhaps we protest too much. Torture, after all, is a venerable American tradition. If not quite as homespun as apple pie or lynching, it is at least as old as our imperial aspirations. We were waterboarding captives in one of our earliest wars of occupation, the Philippine-American War, which cost as many as 1 million civilian lives. In 1902, Teddy Roosevelt himself wrote with laconic praise of "the old Filipino method." Other techniques, crude or sophisticated, have filled the war bag since. CIA interrogation manuals from the 1960s, which lay out the basic stress-position and sleep- and sensory-deprivation techniques later applied at Bagram and Guantanamo, have been public since 1997. Despite our protestations, we have little to be surprised about. Now, when President Obama vows that "the United States does not torture" and spars with the former vice president over details, he crosses his fingers behind his back and saves himself a loophole. Via "extraordinary rendition" -- a Clinton administration innovation -- our government is still free to outsource torture and claim it doesn't know. The Obama administration has been relying increasingly on foreign intelligence services to detain and interrogate our suspects for us. Despite hundreds of front-page stories, we pretend we didn't know, that it was all somehow kept secret from us. This blindness serves a function. By declaring torture anomalous, by pushing it once again to the margins of legality, we can preserve a vision of U.S. military power -- and of American empire -- that is essentially benevolent. [But] maintaining military and economic hegemony over the planet remains an inherently bloody affair. Empire is a synonym for subjugation, and hence for violence on a massive scale.

Note: For a retired Marine Corps general's understanding of the real reasons behind both torture and mass slaughter of civilian populations by the US military, click here.


Lawmakers Reveal Health-Care Investments
2009-06-13, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/12/AR20090612040...

Almost 30 key lawmakers helping draft landmark health-care legislation have financial holdings in the industry, totaling nearly $11 million worth of personal investments in a sector that could be dramatically reshaped by this summer's debate. The list of members who have personal investments in the corporations that will be affected by the legislation -- which President Obama has called this year's highest domestic priority -- includes Congress's most powerful leaders and a bipartisan collection of lawmakers in key committee posts. Their total health-care holdings could be worth $27 million, because congressional financial disclosure forms released yesterday require reporting of only broad ranges of holdings rather than precise values of assets. Senate Majority Leader Harry M. Reid (D-Nev.), for instance, has at least $50,000 invested in a health-care index, and Sen. Judd Gregg (R-N.H.), a senior member of the health committee, has between $254,000 and $560,000 worth of stock holdings in major health-care companies, including Bristol-Myers Squibb and Merck. The family of Rep. Jane Harman (D-Calif.), a senior member of the House Energy and Commerce Committee drafting that chamber's legislation, held at least $3.2 million in more than 20 health-care companies at the end of last year. "If someone is going to be substantially enriched by the consequences of the vote, particularly if it represents a meaningful amount of their net worth, then there is a problem," said Harlan Krumholz, a professor of medicine at Yale University.

Note: For more powerful information on major corruption in health care reform, click here. For lots more on government corruption from reliable, verfiiable sources, click here.


Fed Would Be Shut Down If It Were Audited, Expert Says
2009-06-10, CNBC News
http://www.cnbc.com/id/31204170

The Federal Reserve's balance sheet is so out of whack that the central bank would be shut down if subjected to a conventional audit, Jim Grant, editor of Grant's Interest Rate Observer, told CNBC. With $45 billion in capital and $2.1 trillion in assets, the central bank would not withstand the scrutiny normally afforded other institutions, Grant said. "If the Fed examiners were set upon the Fed's own documents ... to pass judgment on the Fed's capacity to survive the difficulties it faces in credit, it would shut this institution down," he said. "The Fed is undercapitalized in a way that Citicorp is undercapitalized." Grant said he would support legislation currently making its way through Congress calling for an audit of the Fed. Moreover, he criticized the way the Fed has managed the financial crisis, saying the central bank's target rate should not be around zero. "I think zero is the wrong rate for almost any economy," Grant said, adding the Fed has "embarked on a vast experiment in moral hazard. Interest rates are the traffic signals in a market economy, and everything's green. ... You have to wonder whether these interest rates are the right clearing rate or rather they are the imposition of a central bank." Amid a disparity between analysts predicting there will be no rate hikes soon and the fed funds futures indicating tightening by the end of the year, Grant said he thinks the Fed indeed will begin raising rates as inflation creeps into the picture. Fed funds futures have fully priced in as much as a half-point rise in the target rate from its current range of zero to 0.25 percent. "If the hairs on the back of your neck stand up when there's too much unanimity of opinion, then one begins to worry about this," he said. "The Fed proverbially has been late."

Note: For an astonishing five-minute video clip of a Congressional hearing where the Inspector General of the Fed acknowledges she knows almost nothing about trillions of dollars missing from the Fed, click here. For many more important reports shedding light on the hidden realities of the economic crisis, click here.


MIA may be a quarantine site in pandemic
2009-06-10, Miami Herald (Miami's leading newspaper)
http://www.miamiherald.com/business/story/1089929.html

Miami International Airport [MIA] and 18 other major American airports have been lined up to handle a future pandemic that could require them to quarantine international flights. The U.S. Centers for Disease Control and Prevention has set up stand-by quarantine/screening facilities at the 19 airports to which all flights from affected countries would be diverted. Nationally, airline and airport lobbyists predict chaos, saying there is no way the air-traffic system can handle such extensive rerouting. Now, new proposals are emerging in Washington, including one that would designate Fort Lauderdale-Hollywood, Orlando International and four other major airports as potential second-tier quarantine sites. Local officials say they understand the CDC will approve the new designations only if the airports pay for the quarantine facilities themselves. The CDC would pay for the quarantine stations at the 19 primary airports. The facilities are not cheap. A 2008 study by the Federal Aviation Administration concluded that setting aside space for health screenings and a quarantine of up to 200 people could cost $15,000 a month, with costs of an actual quarantine running into the hundreds of thousands of dollars. Fort Lauderdale-Hollywood officials began developing a plan to handle quarantined passengers and flights several years ago during the bird flu scare. It calls for erecting air-conditioned tents on the runway ramps to screen or quarantine passengers before they enter the terminal. Quarantined passengers might have to remain for days to show they are not infectious.


Military spending sets new record
2009-06-08, BBC News
http://news.bbc.co.uk/2/hi/business/8086117.stm

Global military spending rose 4% in 2008 to a record $1,464bn (Ł914bn) - up 45% since 1999, according to the Stockholm-based peace institute Sipri. "The global financial crisis has yet to have an impact on major arms companies' revenues, profits and order backlogs," Sipri said. Peace-keeping operations - which also benefit defence firms - rose 11%. Missions were launched in trouble spots such as Darfur and the Democratic Republic of the Congo. "Another record was set, with the total of international peace operation personnel reaching 187,586," said Sipri. As the world's aerospace and defence industry prepares for next week's Paris air show centenary, it seems much of the focus is set to shift away from troubled civilian aircraft makers, which are struggling with reduced orders from recession-hit airlines, towards the companies that make fighter jets and other military hardware. In total, the 100 leading defence manufacturers sold arms worth $347bn during 2007, the most recent year for which reliable data are available. Almost all the companies were American or European. "Since 2002, the value of the top 100 arms sales has increased by 37% in real terms," Sipri said. US military spending accounted for 58% of the total global spending increase during the decade, with extra funds set aside to fight the "war on terror". "The idea of the 'war on terror' has encouraged many countries to see their problems through a highly militarised lens, using this to justify high military spending," said Sam Perlo-Freeman, head of the military expenditure project at Sipri.

Note: With all of the government cost-cutting in so many sectors, why aren't more people calling for military cutbacks? For a top U.S. general's insight into the profiteering that drives war (and "peacekeeping" operations as well), click here.


The Economy Is Still at the Brink
2009-06-07, New York Times
http://www.nytimes.com/2009/06/07/opinion/07cohanWEB.html

Whether at a fund-raising dinner for wealthy supporters in Beverly Hills, or at an Air Force base in Nevada, or at Charlie Rose’s table in New York City, President Obama is conducting an all-out campaign to try to make us feel a whole lot better about the economy as quickly as possible. “It’s safe to say we have stepped back from the brink, that there is some calm that didn’t exist before,” he told donors at the Beverly Hilton Hotel late last month. Mr. Obama thinks that the way to revive the economy is to restore confidence in it. If the mood is right, the capital will flow. But this belief is dangerously misguided. We are sympathetic to the extraordinary challenge the president faces, but if we’ve learned anything at all two years into the worst financial crisis of our lifetimes, it is that a capital-markets system this dependent on public confidence is a shockingly inadequate foundation upon which to rest our economy. We have both spent large chunks of our lives working on Wall Street, absorbing its ethic and mores. We’re concerned that nothing has really been fixed. We’re doubly concerned that people appear to feel the worst of the storm is over — and in this, they are aided and abetted by ... the fact that the Dow has increased by 35 percent or so since Mr. Obama started to lay out his economic plans in March. But wishing for improvement and managing by the Dow’s swings are a fool’s game. The storm is not over, not by a long shot. Huge structural flaws remain in the architecture of our financial system, and many of the fixes that the Obama administration has proposed will do little to address them and may make them worse.

Note: For many more important reports shedding light on the hidden realities of the US and world economic crisis, click here.


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