Government Corruption News Articles

Excerpts of key news articles on

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 revealing excerpts of key major media news articles on dozens of engaging topics. And read excerpts from 20 of the most revealing news articles ever published.

Computers and networks inherently produce data, and our constant interactions with them allow corporations to collect an enormous amount of intensely personal data about us as we go about our daily lives. Sometimes we produce this data inadvertently simply by using our phones, credit cards, computers and other devices. Sometimes we give corporations this data directly on Google, Facebook, [or] Apple’s iCloud ... in exchange for whatever free or cheap service we receive from the Internet in return. The NSA is also in the business of spying on everyone, and it has realized it’s far easier to collect all the data from these corporations rather than from us directly. The result is a corporate-government surveillance partnership, one that allows both the government and corporations to get away with things they couldn’t otherwise. There are two types of laws in the U.S., each designed to constrain a different type of power: constitutional law, which places limitations on government, and regulatory law, which constrains corporations. Historically, these two areas have largely remained separate, but today each group has learned how to use the other’s laws to bypass their own restrictions. The government uses corporations to get around its limits, and corporations use the government to get around their limits. This partnership manifests itself in various ways. The government uses corporations to circumvent its prohibitions against eavesdropping domestically on its citizens. Corporations rely on the government to ensure that they have unfettered use of the data they collect.

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

Pop quiz: Name a state residential school where children were enrolled in medical experiments over an almost 20-year period, in which they were unknowingly fed a steady diet of radioactive isotopes, subjected to regular blood draws, and placed in solitary confinement if they refused to cooperate. Answer: the Walter E. Fernald State School in Waltham [Mass.} during the mid 20th century. Unfortunately, as Allen Hornblum, Judith Newman, and Gregory Dober painfully describe in their chilling new book, Against Their Will: The Secret History of Medical Experimentation on Children in Cold War America, Fernald was not the only institution in the country, or even in the state, where children were conscripted into sometimes deadly medical experiments. These were conducted by ambitious physicians and scientists whose belief in what they were trying to accomplish often blinded them to the potentially horrific consequences of their actions. “Against Their Will’’ opens with an overview of the eugenics movement in the United States, which found sympathizers among many luminaries of American medicine in the 19th and early 20th centuries. With its disdain for the disabled, who were considered genetically inferior, the movement paved the way for use of “defective’’ children in research. The book then provides multiple examples of medical experiments perpetrated on developmentally delayed and physically disabled children at multiple institutions across the country over the course of decades, often reading like case studies straight out of the 1947 Nazi doctors’ trial.

Note: For a long list of verifiable incidents where unknowing citizens were used as guinea pigs on a massive scale, click here.

The top U.S. special operations commander, Adm. William McRaven, ordered military files about the Navy SEAL raid on Osama bin Laden's hideout to be purged from Defense Department computers and sent to the CIA, where they could be more easily shielded from ever being made public. The secret move, described briefly in a draft report by the Pentagon's inspector general, set off no alarms within the Obama administration even though it appears to have sidestepped federal rules and perhaps also the U.S. Freedom of Information Act. The CIA, noting that the bin Laden mission was overseen by then-CIA Director Leon Panetta before he became defense secretary, said that the SEALs were effectively assigned to work temporarily for the CIA, which has presidential authority to conduct covert operations. The records transfer was part of an effort by McRaven to protect the names of the personnel involved in the raid, according to the inspector general's draft report. But secretly moving the records allowed the Pentagon to tell The Associated Press that it couldn't find any documents inside the Defense Department that AP had requested more than two years ago, and would represent a new strategy for the U.S. government to shield even its most sensitive activities from public scrutiny. "Welcome to the shell game in place of open government," said Thomas Blanton, director of the National Security Archive, a private research institute at George Washington University. "Guess which shell the records are under. If you guess the right shell, we might show them to you. It's ridiculous."

Note: For a powerful analysis of the strong evidence that Osama bin Laden most likely died in Afghanistan in December 2001, long before he was "killed" by the SEALs raid in Pakistan, read David Ray Griffin's Osama bin Laden: Dead or Alive? For more on government secrecy, see the deeply revealing reports from reliable major media sources available here.

CNBC’s BRIAN SULLIVAN: Is there anyone else in the Senate that is a professor? ELIZABETH WARREN: I don't think so. ... We had the big crash in 2008. What does everyone say about it? They say too much concentration in financial services creates too big to fail. It puts us at bigger risk. And what's happened since 2008? The four biggest financial institutions are now 30% bigger than they were in 2008. The central premise behind a 21st century Glass-Steagall is to say if you want to get out there and take risks, go ahead and do it. But ... you can't get access to FDIC insured deposits when you do. That way ... at least one portion of our banking sector stays safe. From 1797 to 1933, the American banking system crashed about every 15 years. In 1933, we put good reforms in place, for which Glass-Steagall was the centerpiece, and from 1933 to the early 1980s, that’s a 50 year period, we didn’t have any of that – none. We kept the system steady and secure. And it was only as we started deregulating, [you hit] the S&L crisis, and what did we do? We deregulated some more. And then you hit long-term capital management at the end of the 90s, and what did we do as a country? This country continued to deregulate more. And then we hit the big crash in 2008. You are not going to defend the proposition that regulation can never work, it did work. SULLIVAN: I didn’t say regulation never worked, Senator. By far and away, and I agree, there were fewer bank failures in that time after Glass-Steagall. ELIZABETH WARREN: “Fewer,” as in, of the big ones, zero.

Note: Sen. Warren is one of the few bright lights in Congress. Watch this interview to see why. To read about later censorship of this interview by NBC, click here.

In more than a dozen classified rulings, the nation’s surveillance court has created a secret body of law giving the National Security Agency the power to amass vast collections of data on Americans. The rulings, some nearly 100 pages long, reveal that the court has taken on a much more expansive role by regularly assessing broad constitutional questions and establishing important judicial precedents, with almost no public scrutiny. The 11-member Foreign Intelligence Surveillance Court, known as the FISA court, was once mostly focused on approving case-by-case wiretapping orders. But since major changes in legislation and greater judicial oversight of intelligence operations were instituted six years ago, it has quietly become almost a parallel Supreme Court, serving as the ultimate arbiter on surveillance issues and delivering opinions that will most likely shape intelligence practices for years to come. In one of the court’s most important decisions, the judges have expanded the use in terrorism cases of a legal principle known as the “special needs” doctrine and carved out an exception to the Fourth Amendment’s requirement of a warrant for searches and seizures. Unlike the Supreme Court, the FISA court hears from only one side in the case — the government — and its findings are almost never made public.

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

Leslie James Pickering noticed something odd in his mail last September: a handwritten card, apparently delivered by mistake, with instructions for postal workers to pay special attention to the letters and packages sent to his home. “Show all mail to supv” — supervisor — “for copying prior to going out on the street,” read the card. It included Mr. Pickering’s name, address and the type of mail that needed to be monitored. The word “confidential” was highlighted in green. “It was a bit of a shock to see it,” said Mr. Pickering, who with his wife owns a small bookstore in Buffalo. More than a decade ago, he was a spokesman for the Earth Liberation Front, a radical environmental group labeled eco-terrorists by the Federal Bureau of Investigation. As the world focuses on the high-tech spying of the National Security Agency, the misplaced card offers a rare glimpse inside the seemingly low-tech but prevalent snooping of the United States Postal Service. Mr. Pickering was targeted by a longtime surveillance system called mail covers, a forerunner of a vastly more expansive effort, the Mail Isolation Control and Tracking program, in which Postal Service computers photograph the exterior of every piece of paper mail that is processed in the United States — about 160 billion pieces last year. It is not known how long the government saves the images. The Mail Isolation Control and Tracking program was created after the anthrax attacks in late 2001. It enables the Postal Service to retrace the path of mail at the request of law enforcement. No one disputes that it is sweeping.

Note: The exposure by whistleblower Edward Snowden of the NSA's massive domestic and global spying operations seems to have triggered a series of other revelations about surveillance of the US population, like this report on the US Postal Service's photographing all mail. Hardly a week goes by without another major revelation, such as a new digital photo-ID database utilized by the FBI and police forces, and the development by US police of a national DNA database on all "potential suspects". Since very few US citizens are terrorists, what is the real purpose behind this total surveillance?

HSBC Holdings Plcs $1.9 billion agreement with the U.S. to resolve charges it enabled Latin American drug cartels to launder billions of dollars was approved by a federal judge. U.S. District Judge John Gleeson in Brooklyn, New York, signed off yesterday on a deferred-prosecution agreement. HSBC was accused of failing to monitor more than $670 billion in wire transfers and more than $9.4 billion in purchases of U.S. currency from HSBC Mexico, allowing for money laundering, prosecutors said. The bank also violated U.S. economic sanctions against Iran, Libya, Sudan, Burma and Cuba, according to a criminal information filed in the case. The bank, Europes largest, agreed to pay a $1.25 billion forfeiture and $665 million in civil penalties under the settlement, prosecutors announced in December. At a hearing the same month, Gleeson told prosecutors there had been publicized criticism of the agreement, which lets the bank and management avoid further criminal proceedings over the charges. Lack of proper controls allowed the Sinaloa drug cartel in Mexico and the Norte del Valle cartel in Colombia to move more than $881 million through HSBCs U.S. unit from 2006 to 2010, the government alleged in the case. The bank also cut resources for its anti-money-laundering programs to cut costs and increase profits, the government said in court filings. Under a deferred prosecution agreement, the U.S. allows a target to avoid charges.

Note: HSBC was founded to service the international drug trade, and is considered too big to criminally prosecute. Big bank settlements often amount to "cash for secrecy" deals that are ultimately profitable for banks. For more along these lines, see concise summaries of deeply revealing news articles about financial industry corruption.

The Army is blocking all access to The Guardian newspaper's reports about the National Security Agency's sweeping collection of data about Americans' email and phone communications, an Army spokesman said Thursday. The Monterey (Calif.) Herald reported that employees at the Presidio of Monterey, an Army public affairs base about 100 miles south of San Francisco, were unable to gain access to The Guardian's articles on former NSA contractor Edward Snowden and his professed leaks of classified information about the intelligence programs. Late Thursday, an Army spokesman told The Herald by email that the newspaper's NSA reports were, in fact, being blocked across the entire Army. He wrote that it's routine for the Defense Department to take "network hygiene" action to prevent disclosure of classified information, The Herald reported. "We make every effort to balance the need to preserve information access with operational security," the newspaper quoted the spokesman as saying. "However there are strict policies and directives in place regarding protecting and handling classified information."

Note: To read the full story in the Monterey Herald, click here. For the Guardian's coverage of this, click here. Does the military have the right to censor its members' access to information?

A cadre of six government and non-government experts who served the National Transportation Safety Board when that independent federal agency investigated the explosion of a Boeing 747 off the coast of Long Island in July 1996 ... are the protagonists of a new documentary, "TWA Flight 800". After four years of investigation, the NTSB claimed the cause of Flight 800's explosion was a mechanical defect, but the new documentary, written and directed by journalist Kristina Borjesson, claims the FBI, NTSB and other government agencies may have covered up that the plane was brought down by a missile strike. Participants in the film have called on the NTSB to reopen the case based on altered physical evidence, suppressed data, and unexamined testimony from hundreds of eyewitnesses. [The] book Attention All Passengers: The Airlines’ Dangerous Descent—and How to Reclaim Our Skies ... published last year ... thanked “the brave men and women who are Federal Aviation Administration, Transportation Security Administration, and airline whistleblowers.” These whistleblowers confirmed such problems as defective airline maintenance outsourcing, FAA oversight failures, TSA waste, and many other important findings. After watching the documentary, I believe there are enough smoking guns to warrant an unbiased reexamination. Last week one major news site was in near hysterics about the documentary, employing the term “conspiracy” ten times. Kristina Borjesson ... wasn’t surprised, noting that reexamining hot topics “discredits previous reporting.”

Note: Kristina Borjesson is a long-time supporter of WantToKnow.info who has written a great piece on Flight 800, which we have posted at this link. She's also the editor of what may be the best book ever on media corruption and manipulation, Into the Buzzsaw. You can find an excellent two-page summary of the book at this link. For the engaging trailer to this film, click here.

Russ Tice, a former intelligence analyst and Bush-era NSA whistleblower, claimed Wednesday that the intelligence community has ordered surveillance on a wide range of groups and individuals, including high-ranking military officials, lawmakers and diplomats. “They went after – and I know this because I had my hands literally on the paperwork for these sort of things – they went after high-ranking military officers. They went after members of Congress, both Senate and the House, especially on the intelligence committees and on the armed services committees," [said] Tice. “But they went after other ones, too. They went after lawyers and law firms. They went after judges. One of the judges is now sitting on the Supreme Court. Two are former FISA court judges. They went after State Department officials. They went after people in the executive service that were part of the White House.” Then Tice dropped the bombshell about Obama. "In summer of 2004, one of the papers that I held in my hand was to wiretap a bunch of numbers associated with a 40-something-year-old wannabe senator for Illinois ... that’s the president of the United States now.” FBI whistleblower Sibel Edmonds and Tice agreed that such wide-ranging surveillance of officials could provide the intelligence agencies with unthinkable power to blackmail their opponents. “I was worried that the intelligence community now has sway over what is going on,” Tice said. Tice first blew the whistle on ... domestic spying across multiple agencies in 2005.

Note: Listen to Tice's shocking revelations in this interview. For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and throughout intelligence agencies.

The probe of Libor manipulation is proving to be the tip of the iceberg as inquiries into assets from derivatives to foreign exchange show that if there’s a chance to rig benchmark rates in world markets, someone is usually willing to try. Singapore’s monetary authority last week censured 20 banks for attempting to fix interest rate levels in the island state and ordered them to set aside as much as $9.6 billion. Britain’s markets regulator is looking into the $4.7 trillion-a-day currency market after Bloomberg News reported that traders have manipulated key rates for more than a decade, citing five dealers. “It’s happened time and again: all of these markets have been influenced by major market-makers, which is a polite way of saying they’ve been rigged,” Charles Geisst, a finance professor at Manhattan College in Riverdale, New York, said. While the indexes under scrutiny are little known to the public, their influence extends to trillions of dollars in securities and derivatives. Barclays, UBS and Royal Bank of Scotland have been fined about $2.5 billion in the past year for distorting the London interbank offered rate, which is tied to $300 trillion worth of securities. Regulators are also probing ISDAfix, a measure used in the $370 trillion interest-rate swaps market, as well as how some oil products prices are set. Inquiries are broadening into the transparency of benchmarks whose levels can be determined by the same people whose income they affect. In the case of Libor, traders who stood to profit worked with bank employees responsible for submissions for the benchmark to rig the price.

Note: To read highly revealing major media articles showing just how crazy and unregulated the derivatives market is, click here. For deeply revealing reports from reliable major media sources on financial corruption, click here.

Lawyers and intelligence experts with direct knowledge of two intercepted terrorist plots that the Obama administration says confirm the value of the NSA's vast data-mining activities have questioned whether the surveillance sweeps played a significant role, if any, in foiling the attacks. The defence of the controversial data collection operations ... has been led by Dianne Feinstein, chairwoman of the Senate intelligence committee, and her equivalent in the House, Mike Rogers. The two politicians have attempted to justify the NSA's use of vast data sweeps such as Prism and Boundless Informant by pointing to the arrests and convictions of would-be New York subway bomber Najibullah Zazi in 2009 and David Headley, who is serving a 35-year prison sentence for his role in the 2008 Mumbai attacks. But court documents lodged in the US and UK, as well as interviews with involved parties, suggest that data-mining through Prism and other NSA programmes played a relatively minor role in the interception of the two plots. Conventional surveillance techniques, in both cases including old-fashioned tip-offs from intelligence services in Britain, appear to have initiated the investigations. The Headley case is a peculiar choice for the administration to highlight as an example of the virtues of data-mining. The fact that the Mumbai attacks occurred, with such devastating effect, in itself suggests that the NSA's secret programmes were limited in their value as he was captured only after the event. Headley ... had been an informant working for the Drug Enforcement Administration perhaps as recently as 2005. There are suggestions that he might have then worked in some capacity for the FBI or CIA.

Note: For deeply revealing reports from reliable major media sources on the realities of intelligence agency activity, click here.

In 1982, long before most Americans ever had to think about warrantless eavesdropping, the journalist James Bamford published “The Puzzle Palace: A Report on N.S.A., America’s Most Secret Agency,” the first book to be written about the National Security Agency. In the book, Bamford describes the agency as “free of legal restrictions” while wielding “technological capabilities for eavesdropping beyond imagination.” He concludes with an ominous warning: “Like an ever-widening sinkhole, N.S.A.’s surveillance technology will continue to expand, quietly pulling in more and more communications and gradually eliminating more and more privacy.” Three decades later, this pronouncement feels uncomfortably prescient: we were warned. Incredibly enough, the Department of Justice, under Jimmy Carter, complied with Bamford’s Freedom of Information Act requests, supplying him with secret documents related to the Church Committee, the Senate group that, in 1975, investigated American intelligence agencies for potential transgression of their mandates. That the government would hand over sensitive information to Bamford predictably infuriated the N.S.A.; Reagan Administration lawyers tried to bully Bamford into ceding his goods, threatening him with the Espionage Act, while the N.S.A. attempted to sequester the documents he’d uncovered. But because he was a lawyer, Bamford knew that he had done nothing wrong.

Note: As a producer for ABC News, Bamford was also the one who obtained startling declassified documents showing that the top Pentagon generals signed off on plans in the early 1960s to blow up a US ship in the Havana harbor or incite violent terrorism in US cities and blame it on Cuba. Strangely, ABC's article "U.S. Military Wanted to Provoke War With Cuba" was the only media report on this incredibly revealing document release. For more along these lines, see concise summaries of revealing news articles on intelligence agency corruption and the disappearance of privacy.

The Guardian [has] released a classified court order requiring Verizon to turn over records of all domestic phone calls to the National Security Agency. The revelation has led to a renewed debate over the legality and policy merits of indiscriminate government surveillance of Americans. The court order, issued by the secret Foreign Intelligence Surveillance court, only sought metadata — a fancy word for information like what numbers you called, what time you made the calls, and how long the calls were. The order does not seek the audio of calls. Of course, it’s possible the NSA has other programs collecting the contents of calls. In 2006 a whistleblower reported the existence of a secret, NSA-controlled room in an AT&T switching facility in San Francisco. So it’s possible the NSA is using rooms like that to listen to everyone’s phone calls. But all we know for sure is that the NSA has been requesting information about our phone calls. We only have proof of spying on Verizon customers, but it’s hard to imagine the NSA limiting its surveillance program to one company. There are probably similar orders in effect for AT&T and CenturyLink, the other major telephone companies. The order includes hints that the NSA is also collecting information from cellular customers. In addition to phone numbers and call times, the order seeks information about the specific cell phone tower the customer used to connect to the network during each call. Cellphones make calls using the closest tower. So if the NSA knows you made a call using a specific tower, they can safely assume you were near that tower at the time of the call.

Note: For graphs and lots more on the Prism program, see the Guardian article at this link. Technically, U.S. officials are not allowed to mine personal data from U.S. citizens. Yet if U.K. authorities mine data on U.S. citizens, they can share it freely with officials in the U.S. and vice versa. There is evidence that this happens quite frequently, thus circumventing privacy protections. For an excellent article which goes deep into this issue, click here.

On [June 6], a heady mix of politicians, bank bosses, billionaires, chief executives and European royalty will swoop up the elegant drive of the Grove hotel, north of Watford, to begin the annual Bilderberg conference. The CEO of Royal Dutch Shell will hop from his limo, delighted to be spending three solid days in policy talks with the head of HSBC, the president of Dow Chemical, his favourite European finance ministers and US intelligence chiefs. The conference is the highlight of every plutocrat's year and has been since 1954. The only time Bilderberg skipped a year was 1976, after the group's founding chairman, Prince Bernhard of the Netherlands, was caught taking bribes from Lockheed Martin. It may seem odd, as our own lobbying scandal unfolds, amid calls for a statutory register of lobbyists, that a bunch of our senior politicians will be holed up for three days in luxurious privacy with the chairmen and CEOs of hedge funds, tech corporations and vast multinational holding companies, with zero press oversight. Michael Meacher, MP ... describes the conference as "an anti-democratic cabal of the leaders of western market capitalism meeting in private to maintain their own power and influence outside the reach of public scrutiny". The Bilderberg conference is paid for, in the UK, by an officially registered charity: the Bilderberg Association (charity number 272706). The charity receives regular five-figure sums from two kindly supporters of its benevolent aims: Goldman Sachs and BP. The most recent documentary proof of this is from 2008, since when the charity has omitted its donors' names from its accounts.

Note: For a list of this year's Bilderberg participants, which include 90-year-old Henry Kissinger, click here. For lots more on secret societies from reliable sources, click here.

The Justice Department secretly obtained two months of telephone records of reporters and editors for The Associated Press in what the news cooperative's top executive called a "massive and unprecedented intrusion" into how news organizations gather the news. The records obtained by the Justice Department listed outgoing calls for the work and personal phone numbers of individual reporters, for general AP office numbers in New York, Washington and Hartford, Conn., and for the main number for the AP in the House of Representatives press gallery. In all, the government seized the records for more than 20 separate telephone lines assigned to AP and its journalists in April and May of 2012. The government would not say why it sought the records. Officials have previously said in public testimony that the U.S. attorney in Washington is conducting a criminal investigation into who may have provided information contained in a May 7, 2012, AP story about a foiled terror plot. The story disclosed details of a CIA operation in Yemen that stopped an al-Qaida plot in the spring of 2012 to detonate a bomb on an airplane bound for the United States. Prosecutors have sought phone records from reporters before, but the seizure of records from such a wide array of AP offices, including general AP switchboards numbers and an office-wide shared fax line, is unusual.

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

At various points over the past two years, Internal Revenue Service officials targeted nonprofit groups that criticized the government and sought to educate Americans about the U.S. Constitution, according to documents in an audit conducted by the agency's inspector general. The documents, obtained by The Washington Post from a congressional aide with knowledge of the findings, show that on June 29, 2011, IRS staffers held a briefing with senior agency official Lois G. Lerner in which they described giving special attention to instances where “statements in the case file criticize how the country is being run.” Six months later, the IRS applied a new political test to groups that applied for tax-exempt status as “social welfare” groups. On Jan. 15, 2012 the agency decided to target "political action type organizations involved in limiting/expanding Government, educating on the Constitution and Bill of Rights, social economic reform movement," according to the appendix in the IG report, which ... has yet to be released. The new revelations are likely to intensify criticism of the IRS, which has been under fire since agency officials acknowledged they had deliberately targeted groups with "tea party" or "patriot" in their name for heightened scrutiny. Sen. Susan Collins ... described the practice as “absolutely chilling” and called on President Obama to condemn the effort.

Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the erosion of civil liberties.

One of the world's most respected economists has said Wall St is full of "crooks" and hasn't reformed its "pathological" culture since the financial crash. Professor Jeffrey Sachs told a high-powered audience at the Philadelphia Federal Reserve earlier this month that the lack of reform was down to “a docile president, a docile White House and a docile regulatory system that absolutely can’t find its voice.” Sachs, from Columbia University, has twice been named one of Time magazine’s 100 Most Influential People in the World, and is an adviser to the World Bank and IMF. “What has been revealed, in my view, is prima facie criminal behavior,” he said. “It’s financial fraud on a very large extent. There’s also a tremendous amount of insider trading. We have a corrupt politics to the core, I am afraid to say, and . . . both parties are up to their neck in this. This has nothing to do with Democrats or Republicans." Sachs described an environment of Wall Street influencing politicians with growing campaign contributions. In the 2012 election cycle, political contributions by the securities and investment sector hit $271.5 million, compared with $176 million in 2008, according to the Center for Responsive Politics. “I am going to put it very bluntly: I regard the moral environment as pathological. They have no responsibility to pay taxes; they have no responsibility to their clients; they have no responsibility to people, to counterparties in transactions,” he said. “They are tough, greedy, aggressive and feel absolutely out of control in a quite literal sense, and they have gamed the system to a remarkable extent.”

Note: For deeply revealing reports from reliable major media sources on criminal practices of Wall Street corporations, click here.

Billionaire Dmitry Rybolovlev, Russia’s 14th-richest person, and his wife, Elena Rybolovleva, have been brawling for almost five years in at least seven countries over his $9.5 billion fortune. In a divorce complaint originated in Geneva in 2008, Rybolovleva accused her husband of using a “multitude of third parties” to create a network of offshore holding companies and trusts to place assets -- including about $500 million in art, $36 million in jewelry and an $80 million yacht -- beyond her reach. She has brought legal action against the 48-year-old Rybolovlev in the British Virgin Islands, England, Wales, the U.S., Cyprus, Singapore and Switzerland, and is seeking $6 billion. The suits provide a window into the offshore structures and secrecy jurisdictions the world’s richest people use to manage, preserve and conceal their assets. According to Tax Justice Network, a U.K.-based organization that campaigns for transparency in the financial system, wealthy individuals were hiding as much as $32 trillion offshore at the end of 2010. Fewer than 100,000 people own $9.8 trillion of offshore assets. More than 30 percent of the world’s 200 richest people, who have a $2.8 trillion collective net worth ...control part of their personal fortune through an offshore holding company or other domestic entity where the assets are held indirectly. These structures often hide assets from tax authorities or provide legal protection from government seizure and lawsuits.

Note: For deeply revealing reports from reliable major media sources on failure of governments to regulate great accumulations of wealth, click here.

Conspiracy theorists of the world, ... we skeptics owe you an apology. You were right. The world is a rigged game. The world's largest banks may be fixing the prices of, well, just about everything. You may have heard of the Libor scandal, in which ... perhaps as many as 16 ... banks have been manipulating global interest rates, in the process [manipulating] the prices of upward of $500 trillion ... worth of financial instruments. Now Libor may have a twin brother. Word has leaked out that the London-based firm ICAP, the world's largest broker of interest-rate swaps, is being investigated by American authorities for behavior that sounds eerily reminiscent of the Libor mess. Regulators are looking into whether or not a small group of brokers at ICAP may have worked with up to 15 of the world's largest banks to manipulate ISDAfix, a benchmark number used around the world to calculate the prices of interest-rate swaps. Interest-rate swaps are a tool used by big cities, major corporations and sovereign governments to manage their debt, and the scale of their use is almost unimaginably massive. [It's] a $379 trillion market, meaning that any manipulation would affect a pile of assets about 100 times the size of the United States federal budget. It should surprise no one that among the players implicated in this scheme to fix the prices of interest-rate swaps are the same megabanks – including Barclays, UBS, Bank of America, JPMorgan Chase and the Royal Bank of Scotland – that serve on the Libor panel that sets global interest rates.

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 revealing excerpts of key 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.