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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.


Facing foreclosure? Don't leave. Squat
2009-02-04, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/04/EDK215MNA0.DTL

Marcy Kaptur of Ohio is the longest-serving Democratic congresswoman in U.S. history. Her district, stretching along the shore of Lake Erie from west of Cleveland to Toledo, faces an epidemic of home foreclosures and 11.5 percent unemployment. Now, she is recommending a radical foreclosure solution from the floor of the U.S. Congress: "So I say to the American people, you be squatters in your own homes. Don't you leave." She criticizes the bailout's failure to protect homeowners facing foreclosure. These mortgages were made, then bundled into securities and sold and resold repeatedly, by the very Wall Street banks that are now benefiting from [a government bailout]. The banks foreclosing on families very often can't locate the actual loan note that binds the homeowner to the bad loan. "Produce the note," Kaptur recommends [to] those facing foreclosure demands of the banks. "[P]ossession is nine-tenths of the law," Rep. Kaptur [said]. "Therefore, stay in your property. Get proper legal representation ... [if] Wall Street cannot produce the deed nor the mortgage audit trail ... you should stay in your home. It is your castle. It's more than a piece of property. ... If you look at the bad paper, if you look at where there's trouble, 95 to 98 percent of the paper really has moved to five institutions: JPMorgan Chase, Bank of America, Wachovia, Citigroup and HSBC. They have this country held by the neck."

Note: Why is it that with the trillions of dollars given by the U.S. government to prop up banks who used shady loan practices, so few homeowners facing foreclosure have received any assistance? For many revealing reports on the realities of the Wall Street bailout, click here.


Bad bank + toxic debts = moral hazard x10
2009-02-02, MarketWatch.com
http://www.marketwatch.com/news/story/Bad-bank-toxic-debt-one/story.aspx?guid...

BusinessWeek says Paulson/Bush & Co. wasted $350 billion in TARP money ... the Congressional Budget Office and GOP say Obama & Co. will waste another $800 billion on "non-stimulus" programs ... Nobel economist [Joseph Stiglitz] calls [the Bad Bank] plan "cash for trash" ... Warning, you are entering a bizarre space-time continuum ... where Wall Street makes random quantum leaps between metaphoric realities. In the "Lost" television series we're transported into a parallel reality, a perfect metaphor for today's global economic meltdown, which is misunderstood and grossly mismanaged. Wall Street crashed ... on the "Lost Island ... of Manhattan," the former center of world banking. The collateral damage has been enormous: Freddie Mac, Fannie Mae, Lehman Brothers, Bear Stearns, global trade, Iceland. [Wall Street's] clueless leaders ... are "Lost" with no bottom, no recovery, no strategy in sight. A new president, a secretive Fed and an old Congress are throwing around taxpayer trillions like free candy ... on top of Bush's "$10 Trillion Hangover" ...after a clueless Wall Street wrote off trillions in toxic debt, then wasted $350 billion in TARP bailout money, buying $50 million private jets, attending golf outings at exclusive resorts, spending millions on CEO's office renovations and paying $18 billion in year-end bonuses. Hope masks denial: Even President Obama's consultant [Warren] Buffett acknowledges that the proposed stimulus plan "might not work." The stimulus might not work? What if this last bullet is a blank? Should you prepare for the worst-case scenario?

Note: For many revealing reports on the realities of the Wall Street bailout, click here.


Obama preserves renditions as counter-terrorism tool
2009-02-01, Los Angeles Times
http://www.latimes.com/news/nationworld/washingtondc/la-na-rendition1-2009feb...

The CIA's secret prisons are being shuttered. Harsh interrogation techniques are off-limits. And Guantanamo Bay will eventually go back to being a wind-swept naval base on the southeastern corner of Cuba. But even while dismantling these programs, President Obama left intact an equally controversial counter-terrorism tool. Under executive orders issued by Obama recently, the CIA still has authority to carry out what are known as renditions, secret abductions and transfers of prisoners to countries that cooperate with the United States. Current and former U.S. intelligence officials said that the rendition program might be poised to play an expanded role going forward because it was the main remaining mechanism -- aside from Predator missile strikes -- for taking suspected terrorists off the street. The rendition program became a source of embarrassment for the CIA, and a target of international scorn, as details emerged in recent years of botched captures, mistaken identities and allegations that prisoners were turned over to countries where they were tortured. The European Parliament condemned renditions as "an illegal instrument used by the United States." Prisoners swept up in the program have sued the CIA as well as a Boeing Co. subsidiary accused of working with the agency on dozens of rendition flights. But the Obama administration appears to have determined that the rendition program was one component of the Bush administration's war on terrorism that it could not afford to discard. The decision underscores the fact that the [War on Terror] is far from over.

Note: For key reports from reliable sources on the hidden realities of the War on Terror, click here.


New Bank Bailout Could Cost $2 Trillion
2009-01-29, Wall Street Journal
http://online.wsj.com/article/SB123319689681827391.html

Government officials seeking to revamp the U.S. financial bailout have discussed spending another $1 trillion to $2 trillion to help restore banks to health, according to people familiar with the matter. President Barack Obama's new administration is wrestling with how to stem the continuing loss of confidence in the financial system, as it divides up the remaining $350 billion from the $700 billion Troubled Asset Relief Program launched last fall. The potential size of rescue efforts being discussed suggests the administration may need to ask Congress for more funds. The administration is expected to take a series of steps, including relieving banks of bad loans and distressed securities. The so-called "bad bank" that would buy these assets could be seeded with $100 billion to $200 billion from the TARP funds, with the rest of the money -- as much as $1 trillion to $2 trillion -- raised by selling government-backed debt or borrowing from the Federal Reserve. The administration is also seeking more effective ways to pump money into banks, and is considering buying common shares in the banks. Government purchases so far have been of preferred shares, in an effort to both protect taxpayers and avoid diluting existing shareholders' stakes. Given the weakened state of the banking industry, with bank share prices low and their capital needs high, economists say the government probably can't avoid owning at least some banks for a temporary period.

Note: Note that the U.S. government has to borrow from the Federal Reserve, which most people don't realize is privately owned by the richest banks. For more on this, click here. The $2 trillion of taxpayer money for Wall Street's toxic assets revealed here is in addition to over $7 trillion already committed according to CNN and others. Wouldn't government debt of this magnitude threaten a broad range of government services and risk seriously weakening the dollar? For many other revealing reports on the Wall Street bailout, click here.


What Red Ink? Wall Street Paid Hefty Bonuses
2009-01-29, New York Times
http://www.nytimes.com/2009/01/29/business/29bonus.html?partner=rss&emc=rss&p...

By almost any measure, 2008 was a complete disaster for Wall Street — except, that is, when the bonuses arrived. Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business, employees at financial companies in New York, the now-diminished world capital of capital, collected an estimated $18.4 billion in bonuses for the year. That was the sixth-largest haul on record, according to a report released Wednesday by the New York State comptroller. Some bankers took home millions last year even as their employers lost billions. The comptroller’s estimate, a closely watched guidepost of the annual December-January bonus season, is based largely on personal income tax collections. It excludes stock option awards that could push the figures even higher. The state comptroller, Thomas P. DiNapoli, said it was unclear if banks had used taxpayer money for the bonuses, a possibility that strikes corporate governance experts, and indeed many ordinary Americans, as outrageous. He urged the Obama administration to examine the issue closely. “The issue of transparency is a significant one, and there needs to be an accounting about whether there was any taxpayer money used to pay bonuses or to pay for corporate jets or dividends or anything else,” Mr. DiNapoli said in an interview.

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


U.N. crime chief says drug money flowed into banks
2009-01-25, International Herald Tribune/Reuters News
http://www.iht.com/articles/reuters/2009/01/25/europe/OUKWD-UK-FINANCIAL-UN-D...

The United Nations' crime and drug watchdog has indications that money made in illicit drug trade has been used to keep banks afloat in the global financial crisis, its head was quoted as saying on Sunday. Vienna-based UNODC Executive Director Antonio Maria Costa said in an interview released by Austrian weekly Profil that drug money often became the only available capital when the crisis spiralled out of control last year. "In many instances, drug money is currently the only liquid investment capital," Costa was quoted as saying by Profil. "In the second half of 2008, liquidity was the banking system's main problem and hence liquid capital became an important factor." The United Nations Office on Drugs and Crime had found evidence that "interbank loans were funded by money that originated from drug trade and other illegal activities," Costa was quoted as saying. There were "signs that some banks were rescued in that way." Profil said Costa declined to identify countries or banks which may have received drug money and gave no indication how much cash might be involved.

Note:. For powerful evidence that corporations and even rogue elements of government are involved in the huge amounts of cash generated in the drug trade, click here. For lots more on corporate corruption, click here.


Whistleblower exposes spying on Americans
2009-01-22, MSNBC Countdown With Keith Olberman
http://www.msnbc.msn.com/id/28794766/

OLBERMANN: It has taken less than 24 hours after the Bush presidency ended for a former analyst at the National Security Agency to come forward to reveal new allegations about how this nation was spied on by its own government. Russell Tice [reveals] that under the collar of fighting terrorism, the Bush administration was also targeting specific groups of Americans for surveillance. TICE: The National Security Agency had access to all Americans‘ communications, faxes, phone calls, and their computer communications. They monitored all communications. What was done was a sort of an ability to look at the meta data, the signaling data for communications, and ferret that information to determine what communications would ultimately be collected. Basically, filtering out sort of like sweeping everything with that meta data, and then cutting down ultimately what you are going to look at and what is going to be collected, and in the long run have an analyst look at, you know, needles in a haystack for what might be of interest. OLBERMANN: I mention that you say specific groups were targeted. What group or groups can you tell us about? TICE: [Some of the groups they] collected on were U.S. news organizations and reporters and journalists. The collection ... was 24/7, and you know, 365 days a year, and it made no sense.

Note: To watch this revealing clip on video, click here. For many reports on government surveillance and invasions of privacy, click here.


Nazi angel of death Josef Mengele 'created twin town in Brazil'
2009-01-21, The Telegraph (One of the UK's leading newspapers)
http://www.telegraph.co.uk/news/worldnews/southamerica/brazil/4307262/Nazi-an...

The Nazi doctor Josef Mengele is responsible for the astonishing number of twins in a small Brazilian town, an Argentine historian has claimed. The steely hearted "Angel of Death", whose mission was to create a master race fit for the Third Reich, was the resident medic at Auschwitz from May 1943 until his flight in the face of the Red Army advance in January 1945. His task was to carry out experiments to discover by what method of genetic quirk twins were produced – and then to artificially increase the Aryan birthrate for his master, Adolf Hitler. Now, a historian claims, Mengele's notorious experiments may have borne fruit. For years scientists have failed to discover why as many as one in five pregnancies in a small Brazilian town have resulted in twins – most of them blond haired and blue eyed. But residents of Candido Godoi now claim that Mengele made repeated visits there in the early 1960s, posing at first as a vet but then offering medical treatment to the women of the town. Shuttling between Argentina, Paraguay and Brazil, he managed to evade justice before his death in 1979, but his dreams of a Nazi master race appeared unfulfilled. In a new book, Mengele [in Spanish], the Argentine historian Jorge Camarasa, a specialist in the post-war Nazi flight to South America, has painstakingly pieced together the Nazi doctor's mysterious later years. After speaking to the townspeople of Candido Godoi, he is convinced that Mengele continued his genetic experiments with twins – with startling results.

Note: For more about Josef Mengele, and his relationship with the CIA, click here.


U.S. moving toward czarism, away from democracy
2009-01-18, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/01/18/INGP158S4G.DTL

Every patriot should be concerned about the intensifying efforts to supplant democracy with something far more authoritarian. Call it American czarism. Czars - i.e., policymakers granted extralegal, cross-agency powers - have become increasingly prevalent in our government over the past century. Until now, this slow lurch toward czarism has primarily reflected the ancient, almost innate human desire for power and paternalistic leadership. In recent years, this culture of "presidentialism," as Vanderbilt Professor Dana Nelson calls it, has justified the Patriot Act, warrantless wiretaps and a radical theory of the "unitary executive" that aims to provide a jurisprudential rationale for total White House supremacy over all government. But only in the past three months has American czarism metastasized from a troubling slow-growth tumor to a potentially deadly cancer. In October, Congress relinquished its most basic oversight powers and gave Treasury Secretary Henry Paulson sole authority to dole out billions of bailout dollars to Wall Street. At the same time, it did nothing when Federal Reserve chairman Ben Bernanke used fiats to commit $5 trillion worth of new money, loan guarantees and loosened lending requirements ... all while he refused to tell the public who is receiving the largesse. Indeed, the Economist magazine's prediction that the "economic crisis may increase the attractiveness of the Chinese model of authoritarian capitalism" is coming true right here at home, as we seem ever more intent on replicating - rather than resisting - that model.

Note: For many revealing reports on the realities underlying the Wall Street bailout, click here.


Madoff's fund may not have made a single trade
2009-01-15, Reuters News
http://www.forbes.com/afxnewslimited/feeds/afx/2009/01/15/afx5928915.html

Bernie Madoff's investment fund may never have executed a single trade, industry officials say, suggesting detailed statements mailed to investors each month may have been an elaborate mirage in a $50 billion fraud. An industry-run regulator for brokerage firms said ... there was no record of Madoff's investment fund placing trades through his brokerage operation. That means Madoff either placed trades through other brokerage firms, a move industry officials consider unlikely, or he was not executing trades at all. 'Our exams showed no evidence of trading on behalf of the investment advisor, no evidence of any customer statements being generated by the broker-dealer,' said Herb Perone, spokesman for the Financial Industry Regulatory Authority. Each month, Madoff sent out elaborate statements of trades conducted by his broker-dealer. There also appear to be discrepancies between monthly statements sent to investors and the actual prices at which the stocks traded on Wall Street. To some, the numbers did not add up. About 10 years ago, Harry Markopolos, then chief investment officer at Rampart Investment Management Co in Boston, asked risk management consultant Daniel diBartolomeo to run Madoff's numbers after Markopolos tried to emulate Madoff's strategy. DiBartolomeo ran regression analyses and various calculations, but failed to reconcile them. For a decade, Markopolos raised the issue with the U.S. Securities and Exchange Commission, which has come under fire in Congress in recent weeks for failing to act on Markopolos's warnings.

Note: For lots more on corporate corruption from reliable, verifiable sources, click here.


Letter from the Grave
2009-01-12, The New Yorker magazine
http://www.newyorker.com/online/blogs/stevecoll/2009/01/letter-from-the.html

[On January 8] Lasantha Wickramatunga, who was fifty-two years old and the editor of a Sri Lankan newspaper called The Sunday Leader, was assassinated on his way to work by two gunmen riding motorcycles. The Leader's investigative reporting had been fiercely critical of the government and of the conduct of its war against Tamil separatists; Wickramatunga had been attacked before. He knew that he was likely to be murdered and so he wrote an essay with instructions that it be published only after his own death. Read it in full below: "No other profession calls on its practitioners to lay down their lives for their art save the armed forces and, in Sri Lanka, journalism. In the course of the past few years, the independent media have increasingly come under attack. Electronic and print-media institutions have been burnt, bombed, sealed and coerced. Countless journalists have been harassed, threatened and killed. It has been my honor to belong to all those categories and now especially the last. We find ourselves in the midst of a civil war ruthlessly prosecuted by protagonists whose bloodlust knows no bounds. Terror, whether perpetrated by terrorists or the state, has become the order of the day. Indeed, murder has become the primary tool whereby the state seeks to control the organs of liberty. Today it is the journalists, tomorrow it will be the judges. For neither group have the risks ever been higher or the stakes lower.

Note: Click on the link above to read this deeply moving letter from a martyr for truth in its entirety.


Eight Years of Madoffs
2009-01-11, New York Times
http://www.nytimes.com/2009/01/11/opinion/11rich.html?partner=rss&emc=rss&pag...

Three days after the world learned that $50 billion may have disappeared in Bernie Madoff’s Ponzi scheme, The Times led its front page of Dec. 14 with the revelation of another $50 billion rip-off. This time the vanished loot belonged to American taxpayers. That was our collective contribution to the $117 billion spent (as of mid-2008) on Iraq reconstruction — a sinkhole of corruption, cronyism, incompetence and outright theft that epitomized Bush management at home and abroad. The source for this news was a near-final draft of an as-yet-unpublished 513-page federal history of this nation-building fiasco. The document was assembled by the Office of the Special Inspector General for Iraq Reconstruction — led by a Bush appointee, no less. It pinpoints, among other transgressions, a governmental Ponzi scheme concocted to bamboozle Americans into believing they were accruing steady dividends on their investment in a “new” Iraq. The $50 billion ... pales next to other sums that remain unaccounted for in the Bush era, from the $345 billion in lost tax revenue due to unpoliced offshore corporate tax havens to the far-from-transparent disposition of some $350 billion in Wall Street bailout money. In the old Pat Moynihan phrase, the Bush years have “defined deviancy down” in terms of how low a standard of ethical behavior we now tolerate as the norm from public officials.

Note: To read the draft of the Office of the Special Inspector General for Iraq Reconstruction's report, click here. To read the New York Times analysis of this important document, click here.


U.S. Embassy in Iraq Largest, Most Expensive Ever
2009-01-05, Fox News
http://www.foxnews.com/story/0,2933,476464,00.html

After much delay the United States opened its new $700 million embassy in Iraq on Monday, inaugurating the largest — and most expensive — embassy ever built. The compound is six times larger than the United Nations compound in New York, and two-thirds the size of the National Mall in Washington. It has space for 1,000 employees with six apartment blocks and is 10 times larger than any other U.S. embassy. Critics have said that the embassy's fortress-like design and immense size show a fundamental disconnect between the U.S. and conditions on the ground in Iraq. “The presence of a massive U.S. embassy — by far the largest in the world — co-located in the Green Zone with the Iraqi government is seen by Iraqis as an indication of who actually exercises power in their country,” the International Crisis Group, a European-based research group, said in 2006. "The idea of an embassy this huge, this costly, and this isolated from events taking place outside its walls is not necessarily a cause for celebration," architectural historian Jane Loeffler wrote in Foreign Affairs in 2007. “Although the U.S. Government regularly proclaims confidence in Iraq’s democratic future, the U.S. has designed an embassy that conveys no confidence in Iraqis and little hope for their future. Instead, the U.S. has built a fortress capable of sustaining a massive, long-term presence in the face of continued violence.”

Note: Why would the U.S. want Iraq (estimated population 28 million) to have an embassy 10 times or more larger than that of China (over a billion people), Canada, Japan, or for that matter many other countries? And why isn't any major media besides Fox even raising this key question? Look at the AP article which has virtually nothing critical. Could this possibly have anything to do with control of oil and other precious resources there?


More Groups Than Thought Monitored in Police Spying
2009-01-04, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/01/03/AR20090103019...

The Maryland State Police surveillance of advocacy groups was far more extensive than previously acknowledged, with records showing that troopers monitored -- and labeled as terrorists -- activists devoted to such wide-ranging causes as promoting human rights and establishing bike lanes. Intelligence officers created a voluminous file on Norfolk-based People for the Ethical Treatment of Animals, calling the group a "security threat" because of concerns that members would disrupt the circus. Angry consumers fighting a 72 percent electricity rate increase in 2006 were targeted. The DC Anti-War Network, which opposes the Iraq war, was designated a white supremacist group, without explanation. One of the possible "crimes" in the file police opened on Amnesty International, a world-renowned human rights group: "civil rights." The [surveillance] ... confirmed the fears of civil liberties groups that have warned about domestic spying since the Sept. 11, 2001, attacks. "No one was thinking this was al-Qaeda," said Stephen H. Sachs, a former U.S. attorney and state attorney general appointed by Gov. Martin O'Malley (D) to review the case. "But 9/11 created an atmosphere where cutting corners was easier." Maryland has not been alone. The FBI and police departments in several cities, including Denver in 2002 and New York before the 2004 Republican National Convention, also responded to [dissent] by spying on activists.

Note: For wide coverage from reliable sources of disturbing threats to civil liberties, click here.


U.S. Debt Expected To Soar This Year
2009-01-03, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/01/02/AR20090102023...

With President-elect Barack Obama and congressional Democrats considering a massive spending package aimed at pulling the nation out of recession, the national debt is projected to jump by as much as $2 trillion this year, an unprecedented increase that could test the world's appetite for financing U.S. government spending. For now, investors are frantically stuffing money into the relative safety of the U.S. Treasury, which has come to serve as the world's mattress in troubled times. Interest rates on Treasury bills have plummeted to historic lows, with some short-term investors literally giving the government money for free. But about 40 percent of the debt held by private investors will mature in a year or less, according to Treasury officials. When those loans come due, the Treasury will have to borrow more money to repay them, even as it launches perhaps the most aggressive expansion of U.S. debt in modern history. With the government planning to roll over its short-term loans into more stable, long-term securities, experts say investors are likely to demand a greater return on their money, saddling taxpayers with huge new interest payments for years to come. Some analysts also worry that foreign investors, the largest U.S. creditors, may prove unable to absorb the skyrocketing debt, undermining confidence in the United States as the bedrock of the global financial system.

Note: For many revealing reports on the realities of the Wall Street bailout and its impacts on the national debt, click here.


The New Thought Police
2009-01-01, PBS
http://www.pbs.org/wgbh/nova/military/nsa-police.html

The National Security Agency (NSA) is developing a tool that George Orwell's Thought Police might have found useful: an artificial intelligence system designed to gain insight into what people are thinking. The device will be able to respond almost instantaneously to complex questions posed by intelligence analysts. As more and more data is collectedthrough phone calls, credit card receipts, social networks like Facebook and MySpace, GPS tracks, cell phone geolocation, Internet searches, Amazon book purchases, even E-Z Pass toll records - it may one day be possible to know not just where people are and what they are doing, but what and how they think. The system is so potentially intrusive that at least one researcher has quit, citing concerns over the dangers in placing such a powerful weapon in the hands of a top-secret agency with little accountability. Known as Aquaint, which stands for "Advanced QUestion Answering for INTelligence," the project was run for many years by John Prange, an NSA scientist at the Advanced Research and Development Activity. A supersmart search engine, capable of answering complex questions ... would be very useful for the public. But that same capability in the hands of an agency like the NSA - absolutely secret, often above the law, resistant to oversight, and with access to petabytes of private information about Americans - could be a privacy and civil liberties nightmare. "We must not forget that the ultimate goal is to transfer research results into operational use," said ... Prange.

Note: Watch a highly revealing PBS Nova documentary providing virtual proof that the NSA could have stopped 9/11 but chose not to. For more along these lines, see concise summaries of deeply revealing news articles on intelligence agency corruption and the disappearance of privacy.


Where'd the Bailout Cash Go? It's a Secret
2008-12-22, CBS News/Associated Press
https://www.cbsnews.com/news/whered-the-bailout-cash-go-its-a-secret/

After receiving billions in aid from U.S. taxpayers, the nation's largest banks say they can't track exactly how they're spending it. Some won't even talk about it. "We're choosing not to disclose that," said Kevin Heine, spokesman for Bank of New York Mellon, which received about $3 billion. The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what's the plan for the rest? None of the banks provided specific answers. Some banks said they simply didn't know where the money was going. There has been no accounting of how banks spend that money. The answers highlight the secrecy surrounding the Troubled Asset Relief Program, which earmarked $700 billion ... to help rescue the financial industry. Lawmakers summoned bank executives to Capitol Hill last month and implored them ... not to hoard it or spend it on corporate bonuses, junkets or to buy other banks. But there is no process in place to make sure that's happening and there are no consequences for banks that don't comply. Meanwhile, banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year. Congress attached nearly no strings to the $700 billion bailout in October. And the Treasury Department, which doles out the money, never asked banks how it would be spent. No bank provided even the most basic accounting for the federal money. Most banks wouldn't say why they were keeping the details secret.

Note: Explore key information that the bankers don't want you to know on the Federal Reserve, which is neither federal, nor a reserve. For more along these lines, see concise summaries of deeply revealing news articles on the banking bailout from reliable major media sources. Then explore the excellent, reliable resources suggesting major corruption provided in our Banking Information Center.


Execs of bailed-out banks got $1.6B last year, AP finds
2008-12-21, USA Today/Associated Press
http://www.usatoday.com/money/companies/management/2008-12-21-bank-execs-bail...

Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals. The rewards came even at banks where poor results last year foretold the economic crisis that sent them to Washington for a government rescue. Some trimmed their executive compensation due to lagging bank performance, but still forked over multimillion-dollar executive pay packages. Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management. The total amount given to nearly 600 executives would cover bailout costs for many of the 116 banks that have so far accepted tax dollars to boost their bottom lines. The AP compiled total compensation based on annual reports that the banks file with the Securities and Exchange Commission. The 116 banks have so far received $188 billion in taxpayer help. Among the findings: • Lloyd Blankfein, president and chief executive officer of Goldman Sachs, took home nearly $54 million in compensation last year. The company's top five executives received a total of $242 million. The New York-based company on Dec. 16 reported its first quarterly loss since it went public in 1999. It received $10 billion in taxpayer money on Oct. 28. • John A. Thain, chief executive officer of Merrill Lynch, topped all corporate bank bosses with $83 million in earnings last year. Like Goldman, Merrill got $10 billion from taxpayers on Oct. 28.

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


The Pentagon is muscling in everywhere. It's time to stop the mission creep.
2008-12-21, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/12/19/AR20081219027...

We no longer have a civilian-led government. The most unnerving legacy of the Bush administration is the encroachment of the Department of Defense into a striking number of aspects of civilian government. Our Constitution is at risk. President-elect Barack Obama's selections of James L. Jones, a retired four-star Marine general, to be his national security adviser and, it appears, retired Navy Adm. Dennis C. Blair to be his director of national intelligence ... could complete the silent military coup d'etat that has been steadily gaining ground below the radar screen of most Americans and the media. While serving the State Department in several senior capacities over the past four years, I witnessed firsthand the quiet, de facto military takeover of much of the U.S. government. The first assault on civilian government occurred in faraway places -- Iraq and Afghanistan. As military officers sought to take over the role played by civilian development experts abroad, Pentagon bureaucrats quietly populated the National Security Council and the State Department with their own personnel ... to ensure that the Defense Department could keep an eye on its rival agencies. The encroachment within America's borders continued with the military's increased involvement in domestic surveillance and its attempts to usurp the role of the federal courts in reviewing detainee cases. The Pentagon also resisted ceding any authority over its extensive intelligence operations to the ... director of national intelligence. Now the Pentagon has drawn up plans to deploy 20,000 U.S. soldiers inside our borders by 2011.

Note: The author of this piece, Thomas A. Schweich, served the Bush administration as ambassador for counter-narcotics in Afghanistan and deputy assistant secretary of state for international law enforcement affairs.


Illinois governor seems to be growing stronger
2008-12-21, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/12/21/BAG314QRPO.DTL

I got a call from Illinois Gov. Rod Blagojevich the other day. The first thing I said to him was, "You know, this call is probably being taped." Blagojevich said he had read my column in The Chronicle last week, in which I raised questions about the "pay to play" charges being leveled against him in connection with his pending appointment of someone to fill Barack Obama's now-empty U.S. Senate seat. I think he liked how I raised questions about the timing and manner of U.S. Attorney Patrick Fitzgerald's decision to charge him over what appears to be little more than loose conversations he had with his staff. I wouldn't bet on him stepping aside anytime soon. If anything, his hand is getting stronger by the day. I can't go into details, but my impression is that the whole mess started because the governor had been considering appointing a political rival, Illinois Attorney General Lisa Madigan, to the Senate so she wouldn't be able to run against him when he went up for re-election in 2010. Apparently, Obama's people weren't happy about the idea of Madigan coming to Washington, and there were some pretty heated conversations between Blagojevich and Obama chief of staff Rahm Emanuel, which I understand will burn your ears off. It was pretty clear that Blagojevich is going to hang tough, especially after the Illinois Supreme Court shot down Madigan's request that he be forced from office because he supposedly can't carry out his duties. It is also pretty clear that despite all the screaming over his appearing to be "selling" the seat in return for political favors or financial considerations, his fellow Democrats are not going to strip him of his power to appoint someone to replace Obama.

Note: The author of this article is insider Willie Brown, former mayor of San Francisco and power-broking speaker of California's assembly for 15 years. For an alleged transcript of the actual conversation between Blagojevich and Rahm Emanuel, click here. If this is true, watch for some big shifts.


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