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Revealing News For a Better World

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.


Terrorist watch list: One tip now enough to put name in database
2010-12-29, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2010/12/29/AR20101229015...

A year after a Nigerian man allegedly tried to blow up a Detroit-bound airliner, officials say they have made it easier to add individuals' names to a terrorist watch list. The failure to put Umar Farouk Abdulmutallab on the watch list last year renewed concerns that the government's system to screen out potential terrorists was flawed. Even though Abdulmutallab's father had told U.S. officials of his son's radicalization in Yemen, government rules dictated that a single-source tip was insufficient to include a person's name on the watch list. Since then, senior counterterrorism officials say they have altered their criteria so that a single-source tip, as long as it is deemed credible, can lead to a name being placed on the watch list. But civil liberties groups argue that the government's new criteria, which went into effect over the summer, have made it even more likely that individuals who pose no threat will be swept up in the nation's security apparatus, leading to potential violations of their privacy and making it difficult for them to travel. "They are secret lists with no way for people to petition to get off or even to know if they're on," said Chris Calabrese, legislative counsel for the American Civil Liberties Union. The list, which stands at 440,000 people, [is now] about 5 percent larger than last year.

Note: For lots more from reliable sources on growing threats to civil liberties, click here.


C.I.A. Secrets Could Surface in Swiss Nuclear Case
2010-12-24, New York Times
http://www.nytimes.com/2010/12/24/world/europe/24nukes.html

A seven-year effort by the Central Intelligence Agency to hide its relationship with a Swiss family who once acted as moles inside the world’s most successful atomic black market hit a turning point on [December 23] when a Swiss magistrate recommended charging the men with trafficking in technology and information for making nuclear arms. The prospect of a prosecution, and a public trial, threatens to expose some of the C.I.A.’s deepest secrets if defense lawyers try to protect their clients by revealing how they operated on the agency’s behalf. The three men — Friedrich Tinner and his two sons, Urs and Marco — helped run the atomic smuggling ring of A. Q. Khan, an architect of Pakistan’s nuclear bomb program, officials in several countries have said. In return for millions of dollars, according to former Bush administration officials, the Tinners secretly worked for the C.I.A. as well, not only providing information about the Khan network’s manufacturing and sales efforts, which stretched from Iran to Libya to North Korea, but also helping the agency introduce flaws into the equipment sent to some of those countries. A trial ... could also expose in court a tale of C.I.A. break-ins in Switzerland, and of a still unexplained decision by the agency not to seize electronic copies of a number of nuclear bomb designs found on the computers of the Tinner family. Ultimately, copies of those blueprints were found around the globe on the computers of members of the Khan network.

Note: This report establishes yet another connection between a secret nuclear materials network linking both Khan and US government officials, parts of which were divulged by FBI whistleblower Sibel Edmonds, who identified moles working with Khan in both the US State Department and the Pentagon. For more on these highly suspicious networks, click here.


Monitoring America
2010-12-20, Washington Post
http://projects.washingtonpost.com/top-secret-america/articles/monitoring-ame...

Nine years after the terrorist attacks of 2001, the United States is assembling a vast domestic intelligence apparatus to collect information about Americans, using the FBI, local police, state homeland security offices and military criminal investigators. The system, by far the largest and most technologically sophisticated in the nation's history, collects, stores and analyzes information about thousands of U.S. citizens and residents, many of whom have not been accused of any wrongdoing. The months-long investigation [by The Washington Post], based on nearly 100 interviews and 1,000 documents, found that: * Technologies and techniques honed for use on the battlefields of Iraq and Afghanistan have migrated into the hands of law enforcement agencies in America. * The FBI is building a database with the names and certain personal information, such as employment history, of thousands of U.S. citizens and residents whom a local police officer or a fellow citizen believed to be acting suspiciously. * Law enforcement agencies have hired as trainers self-described experts whose extremist views on Islam and terrorism are considered inaccurate and counterproductive by the FBI and U.S. intelligence agencies. * The Department of Homeland Security sends its state and local partners intelligence reports with little meaningful guidance, and state reports have sometimes inappropriately reported on lawful meetings.

Note: This report is part of a series, "Top Secret America," by The Washington Post. For more, click here.


State Budgets: The Day of Reckoning
2010-12-19, CBS News
http://www.cbsnews.com/stories/2010/12/19/60minutes/main7166220.shtml

There is [a] financial crisis looming involving state and local governments. In the two years since the "great recession" wrecked their economies and shriveled their income, the states have collectively spent nearly a half a trillion dollars more than they collected in taxes. There is also a trillion-dollar hole in their public pension funds. The states have been getting by on billions of dollars in federal stimulus funds, but the day of reckoning is at hand. The debt crisis [could] cost a million public employees their jobs and require another big bailout package that no one in Washington wants to talk about. "The most alarming thing about the state issue is the level of complacency," Meredith Whitney, one of the most respected financial analysts on Wall Street. "It has tentacles as wide as anything I've seen. I think next to housing this is the single most important issue in the United States, and certainly the largest threat to the U.S. economy," she [said]. California, which faces a $19 billion budget deficit next year, has a credit rating approaching junk status. It now spends more money on public employee pensions than it does on the state university system, which had to increase its tuition by 32 percent. Arizona is so desperate it sold off the state capitol, Supreme Court building and legislative chambers to a group of investors and now leases the buildings from their new owner. The state also eliminated Medicaid funding for most organ transplants.

Note: For key reports from major media sources on the devastating consequences for Main Street of the criminal bailout of Wall Street, click here.


Senate panel ban seen as double standard
2010-12-19, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2010/12/18/AR20101218035...

Gordon R. England's appointment to a top Pentagon post in 2006 came at a high price. The Senate committee overseeing his confirmation demanded that he give up lucrative stocks and options he held in companies that do business with the military. England said he took a big hit on his taxes and lost out on more than $1 million in potential profits that year when he divested himself of interests in companies that included General Dynamics. If he had been a senator, he would not have had to sell anything. The Senate Armed Services Committee prohibits its staff and presidential appointees requiring Senate confirmation from owning stocks or bonds in 48,096 companies that have Defense Department contracts. But the senators who sit on the influential panel are allowed to own any assets they want. And they have owned millions in interests in these firms. The committee's prohibition is designed to prevent high-ranking Pentagon officials from using inside information to enrich themselves or members of their immediate family. But panel members have access to much of the same inside information, because they receive classified briefings from high-ranking defense officials about policy, contracts and plans for combat strategies and weapons systems. "I think Congress should live by the rules they impose on other people," said England, who served as deputy defense secretary under George W. Bush until 2009.

Note: Congress is amost always exempt from it's own rules, as further described in this powerful Time magazine article. This is one major source of rampant corruption in US government. For more on government corruption, click here.


Brooksley Born foresaw disaster but was silenced
2010-12-05, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/12/05/BUHC1GLHFA.DTL

There's a brief scene in "Inside Job," the locally produced documentary on the Great Financial Meltdown, in which a colleague of the head of the Commodity Futures Trading Commission in 1997 describes how "blood drained from her face" after receiving a phoned-in tongue-lashing from deputy Treasury Secretary Larry Summers. The target of Summers' wrath was Brooksley Born, ... the first female president of the Stanford Law Review and a recognized legal expert in the area of complex financial instruments. Her crime: Born had the temerity to push for regulation of the increasingly wild trading in derivatives, which, as we learned a decade later, helped bring the U.S. economy, and much of the world's, to its knees. Summers, with 13 bankers in his office, told Born to get off it "in a very grueling fashion," said the colleague. The story is told in much more detail in All the Devils are Here, the latest, but eminently worthwhile, book on the roots of the crisis, by Bethany McLean and ... Joe Nocera. It makes for dispiriting, even appalling, reading. Responding to growing evidence of manipulation and fraud in unregulated derivatives trading - "the hippopotamus under the rug," as Born and others referred to it - Born suggested the commission should perhaps be given some sort of oversight. She had a 33-page policy paper drawn up, full of questions and suggestions, like, for example, whether establishing a public exchange for derivatives might not be a bad idea. Responding to the policy paper, Summers, "screaming at her," according to the book, told Born the bankers sitting in his office "threatened to move their derivatives business to London," if she didn't stop.

Note: For key reports on financial fraud from reliable sources, click here.


WikiLeaks' War on Secrecy: Truth's Consequences
2010-12-02, Time Magazine
http://www.time.com/time/magazine/article/0,9171,2034488,00.html

WikiLeaks' publication starting Nov. 28 of more than 250,000 diplomatic cables was the largest unauthorized release of contemporary classified information in history. It contained 11,000 documents marked secret. The WikiLeaks revelations could change history. The number of documents and other communications [classified as secret] has skyrocketed nearly 10 times, from 5,685,462 in 1996 to 54,651,765 in 2009. Governments are calling more things secret when they are really not. The number of people with access to that Everest of information has grown too. In its deep investigation of American secrecy earlier this year, the Washington Post found that some 854,000 people inside and out of government had top-secret clearance, the highest classification. [Julian Assange] has launched a crusade predicated on the idea that nearly all information should be free and that confidentiality in government affairs is an affront to the governed. In the process, he has published everything from a video of U.S. troops killing civilians in Iraq to the documents behind the so-called Climategate scandal. "When trusted insiders no longer have faith in the judgment of government regarding secrets, then they start to substitute their own judgment," says William J. Bosanko, head of the Information Security Oversight Office. "The world is moving irreversibly in the direction of openness, and those who learn to operate with fewer secrets will ultimately have the advantage over those who futilely cling to a past in which millions of secrets can be protected," says a former intelligence-community official.

Note: For an abundance of major media articles showing the problems with excessive secrecy, click here.


Senator Bernie Sanders on the War Between the Shrinking Middle Class and the Wealthy
2010-11-30, U.S. Senate Testimony
http://sanders.senate.gov/newsroom/news/?id=c8f26b05-01e7-429f-a5e0-a9a6bd1a0f40

Mr. SANDERS. Mr. President, there is a war going on in this country, and I am not referring to the wars in Iraq or Afghanistan. I am talking about a war being waged by some of the wealthiest and most powerful people in this country against the working families of the United States of America, against the disappearing and shrinking middle class of our country. The reality is, many of the Nation's billionaires are on the warpath. They want more, more, more. Their greed has no end, and apparently there is very little concern for our country or for the people of this country if it gets in the way of the accumulation of more and more wealth and more and more power. The percentage of income going to the top 1 percent has nearly tripled since the 1970s. In the mid-1970s, the top 1 percent earned about 8 percent of all income. In the 1980s, that figure jumped to 14 percent. In the late 1990s, that 1 percent earned about 19 percent. And today, as the middle class collapses, the top 1 percent earns 23 1/2 percent of all income--more than the bottom 50 percent. Today, if you can believe it, the top one-tenth of 1 percent earns about 12 cents of every dollar earned in America.

Note: To see a video of this amazing speech by courageous Senator Bernie Sanders (Independent), click here.


Why does the FBI Orchestrate Fake Terror Plots?
2010-11-30, Global Research
http://www.globalresearch.ca/index.php?context=va&aid=22175

The latest one snared Osman Mohamud, a Somali-American teenager in Portland, Oregon. The Associated Press report by William Mall and Nedra Pickler (11-27-10) ... makes it clear that it was a plot orchestrated by federal agents. Two sentences into the news report we have this: "The bomb was an elaborate fake supplied by the [FBI] agents and the public was never in danger, authorities said." The teenager was supplied with a fake bomb and a fake detonator. Documents released by US Attorney Dwight Holton "show the sting operation began in June." Obviously, the targeted Portland teenager was not hot to trot. The FBI had to work on him for six months. The reporters compare "the Portland sting" to the recent arrest in Virginia of Faroque Ahmed who was ensnared in a "bombing plot that was a ruse conducted over the past six months by federal officials." Think about this. The FBI did a year's work in order to convince two people to participate in fake plots. When the US government has to go to such lengths to create "terrorists" out of hapless people, an undeclared agenda is being served. What could this agenda be? The answer is many agendas. One agenda is to justify wars of aggression that are war crimes under the Nuremberg standard created by the US government itself. Another agenda is to create a police state. A police state can control people who object to their impoverishment for the benefit of the superrich much more easily than can a democracy endowed with constitutional civil liberties. Another agenda is to get rich. Terror plots, whether real or orchestrated, have created a market for security.

Note: Though the source of this article is not considered major media, the writer, Paul Craig Roberts, served as an Assistant Secretary of the Treasury in the Reagan administration, earning fame as a co-founder of Reaganomics. He is a former editor and columnist for the Wall Street Journal, Business Week, and Scripps-Howard News Service. Roberts has been a critic of both Democratic and Republican administrations.


Winning the Class War
2010-11-27, The New York Times
http://www.nytimes.com/2010/11/27/opinion/27herbert.html

The class war that no one wants to talk about continues unabated. Even as millions of out-of-work and otherwise struggling Americans are tightening their belts for the holidays, the nation’s elite are lacing up their dancing shoes and partying like royalty as the millions and billions keep rolling in. Recessions are for the little people, not for the corporate chiefs and the titans of Wall Street who are at the heart of the American aristocracy. They have waged economic warfare against everybody else and are winning big time. The ranks of the poor may be swelling and families forced out of their foreclosed homes may be enduring a nightmarish holiday season, but American companies have just experienced their most profitable quarter ever. The corporate fat cats are becoming alarmingly rotund. Their profits have surged over the past seven quarters at a pace that is among the fastest ever seen, and they can barely contain their glee. On the same day that The Times ran its article about [record corporate] profits, it ran a piece on the front page that carried the headline: “With a Swagger, Wallets Out, Wall Street Dares to Celebrate.” Anyone who thinks there is something beneficial in this vast disconnect between the fortunes of the American elite and those of the struggling masses is just silly. It’s not even good for the elite. The rich may think that the public won’t ever turn against them. But to hold that belief, you have to ignore the turbulent history of the 1930s.

Note: For many reports from reliable souces on corporate profiteering, click here.


Secret Justice Department Report Details How the U.S. Helped Former Nazis
2010-11-14, New York Times
http://documents.nytimes.com/confidential-report-provides-new-evidence-of-not...

[Introduction] An internal history of the United States government’s Nazi-hunting operation provides gripping new evidence about some of the most notorious Nazi cases of the last three decades. The Justice Department kept the 600-page report secret for the last four years, releasing a heavily redacted version last month to a private research group that sued to force its release. A complete version was obtained by The New York Times. [From the document] In the 1970s, the public was shocked to leam that some Nazi persecutors had emigrated to the United States. There were calls for their expulsion and legislation was passed to facilitate their deportation. OSI was created in 1979 to handle the caseload. The Office of Special Investigations (OSI) is often referred to as the government's "Nazi-hunting" organization. While the cases and projects are individually fascinating, this report was not written simply to recount a series of unrelated but interesting undertakings. It is designed to serve as a teaching and research tool for historians, the media, academics, policy makers and the general public. While one would hope that the Holocaust was such an aberration that its like would never recur, the world has since learned of new and horrific genocidal undertakings. Bosnia, Cambodia, Croatia, Iraq, Rwanda, Serbia and Sudan are among the all too-many countries involved. These societies will inevitably have to confront some of the same issues which faced OSI.

Note: This suppressed report contains clear evidence that top Nazi war criminals were given aliases and allowed to escape prosection by elements both outside and inside of government. For even more powerful evidence from released US government documents that top government leaders felt the need for mind control techniques developed by the Nazi's warranted secretly protecting and eventually working with some of the most heartless of the Nazis, click here.


In Hunt for Nazis, an Incomplete History
2010-11-14, New York Times
http://www.nytimes.com/interactive/2010/11/14/us/14documents.html

A secret internal history of the Justice Department’s Nazi-hunting unit, the Office of Special Investigations, chronicles numerous hidden chapters in the office’s 31-year-existence. But a heavily redacted version of the report turned over by the Justice Department in response to a lawsuit deletes more than 1,000 passages in the report, including many of the most intriguing references. Here is a sampling of the original passages in the unredacted report, obtained by the New York Times, as compared with the deleted versions. The full report details how the United States became a “safe haven” for some Nazis, with some American officials actively working to help persecutors gain entry to the United States and conceal their identities and crimes. But the redacted version prepared by the Justice Department omits many of the central elements of these cases. The redacted report omits the debate within the CIA in 1953 over what Otto von Bolschwing, a Nazi associate of Adolph Eichmann who became a CIA asset, should tell immigration officials or others in the United States if confronted about his Nazi past. It also deletes references to what American officials knew about his atrocities, including the assertion from a Justice Department officials that he might “be guilty of acts more heinous than anyone else currently under investigation.” [many additional examples follow]

Note: This suppressed report contains clear evidence that top Nazi war criminals were given aliases and allowed to escape prosecution by elements both outside and inside of government. For even more powerful evidence from released US government documents that top government leaders felt the need for mind control techniques developed by the Nazi's warranted secretly protecting and eventually working with some of the most heartless of the Nazis, click here.


No charges for destroying CIA interrogation videos
2010-11-09, MSNBC/Associated Press
http://www.msnbc.msn.com/id/40091824/ns/us_news-security/40091824

A special prosecutor cleared CIA employees ... of any criminal charges for destroying videotapes that showed waterboarding of terror suspects, even though two sources close to the case say a key witness was never questioned. The sources, who spoke on condition of anonymity, said that special counsel John Durham never issued a grand jury subpoena for testimony from Jose Rodriguez, the CIA's former top clandestine officer, who approved the destruction of the tapes. Rodriguez' lawyer, Bob Bennett, had made clear that his client would not testify without a grant of immunity. But Durham's failure to call Rodriguez, or even question him as a witness, surprised one lawyer close to the case, indicating it could raise questions about the special counsel's claim that he had conducted a "thorough" investigation. The decision not to prosecute anyone in the videotape destruction came five years to the day after the CIA destroyed its cache of 92 videos of two al-Qaida operatives, Abu Zubaydah and Abd al-Nashiri, being subjected to waterboarding, which evokes the sensation of drowning. The deadline for prosecuting someone under most federal laws is five years. Jamell Jaffer, a lawyer for the ACLU, criticized the decision. "The problem here is not just the destruction of the tapes, but what the tapes depicted – interrogators using barbaric methods endorsed at the highest levels of the government."

Note: It appears that the courts are not willing to put a stop to the increasing criminality and usurpations of power of the National Security State. For abundant documentation from major media sources of the illegalities and atrocities committed by US intelligence and military in the GWOT, click here.


D.E.A. Deployed Mumbai Plotter Despite Warning
2010-11-08, New York Times
http://www.nytimes.com/2010/11/08/world/asia/08terror.html

American authorities sent David C. Headley, a small-time drug dealer and sometime informant, to work for them in Pakistan months after the Sept. 11, 2001, attacks, despite a warning that he sympathized with radical Islamic groups. Not long after Mr. Headley arrived there, he began training with terrorists, eventually playing a key role in the 2008 attacks that left 164 people dead in Mumbai. The October 2001 warning was dismissed, the authorities said, as the ire of a jilted girlfriend and for lack of proof. Less than a month later, those concerns did not come up when a federal court in New York granted Mr. Headley an early release from probation so that he could be sent to work for the United States Drug Enforcement Administration in Pakistan. It is unclear what Mr. Headley was supposed to do in Pakistan for the Americans. Two of the former drug dealer's ex-wives had gone to American authorities between 2005 and 2008, before the Mumbai attacks, to say they feared he was plotting with terrorists. Combined with the earlier warning from the former girlfriend, three of the women in Mr. Headley's life reported his ties to terrorists, only to have those warnings dismissed. An examination of Mr. Headley's story shows that his government ties ran far deeper and longer than previously known. One senior American official knowledgeable about the case said he believed that Mr. Headley was a D.E.A. informant until at least 2003, meaning that he was talking to American agencies even as he was learning to deal with explosives and small arms in terrorist training camps.

Note: This story certainly raises the question whether the Mumbai attacks were not in fact a false-flag operation. For many reports from reliable sources that reveal similar ties between government agencies running clandestine operations and terrorist attacks, click here.


Humiliate, strip, threaten: UK military interrogation manuals discovered
2010-10-25, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/uk/2010/oct/25/uk-military-interrogation-manuals

The British military has been training interrogators in techniques that include threats, sensory deprivation and enforced nakedness in an apparent breach of the Geneva conventions. Training materials drawn up secretly in recent years tell interrogators they should aim to provoke humiliation, insecurity, disorientation, exhaustion, anxiety and fear in the prisoners they are questioning, and suggest ways in which this can be achieved. A manual prepared in April 2008 suggests that "Cpers" – captured personnel – be kept in conditions of physical discomfort and intimidated. Sensory deprivation is lawful, it adds, if there are "valid operational reasons". It also urges enforced nakedness. More recent training material says blindfolds, earmuffs and plastic handcuffs are essential equipment for military interrogators, and says that while prisoners should be allowed to sleep or rest for eight hours in each 24, they need be permitted only four hours unbroken sleep. It also suggests that interrogators tell prisoners they will be held incommunicado unless they answer questions. The 1949 Geneva conventions prohibit any "physical or moral coercion", in particular any coercion employed to obtain information. All the British classified training material was produced after the death of Baha Mousa, the Iraqi hotel receptionist tortured to death by British troops in Basra in September 2003.

Note: For a survey of historic and contemporary uses of torture, click here. For more disturbing information on how Nazi torture techniques were eventually used by the CIA for mind control, click here.


17,000 doctors cash in drug company money, report finds
2010-10-19, MSNBC/Reuters
http://www.msnbc.msn.com/id/39742328/ns/health-health_care/

More than 17,000 doctors and other health care providers have taken money from seven major drug companies to talk to other doctors about their products, a joint investigation by news organizations and non-profit groups found. More than 380 of the doctors, nurses, pharmacists and other professionals took in more than $100,000 in 2009 and 2010, according to the investigation. The report said far more doctors are likely to have taken such payments, but it documented these based on information from seven drugmakers. The investigation by journalism group ProPublica, Consumer Reports magazine, NPR radio and [other] publications showed doctors were sometimes urged to recommend "off-label" prescriptions of drugs, meaning using them for conditions they are not approved for. "Tens of thousands of U.S. physicians are paid to spread the word about pharma's favored pills and to advise the companies about research and marketing," the group says in its report. "This investigation begins to pull back the shroud on these activities," Dr. John Santa, director of the Consumer Reports Health Ratings Center, said in a statement. "The amount of money involved is astounding, and the ProPublica report's account of the background of some of the physicians is disturbing."

Note: This important report is available here. For more on corporate corruption, click here.


WikiLeaks and 9/11: What if?
2010-10-15, Los Angeles Times
http://articles.latimes.com/2010/oct/15/opinion/la-oe-rowley-wikileaks-20101015

If WikiLeaks had been around in 2001, could the events of 9/11 have been prevented? The idea is worth considering. There were a lot of us in the run-up to Sept. 11 who had seen warning signs that something devastating might be in the planning stages. One of us, Coleen Rowley, was a special agent/legal counsel at the FBI's Minneapolis division and worked closely with those who arrested would-be terrorist Zacarias Moussaoui on an immigration violation less than a month before the World Trade Center was destroyed. Following up on a tip from flight school instructors who had become suspicious of the French Moroccan who claimed to want to fly a jet as an "ego boost," Special Agent Harry Samit and an INS colleague had detained Moussaoui. A foreign intelligence service promptly reported that he had connections with a foreign terrorist group, but FBI officials in Washington inexplicably turned down Samit's request for authority to search Moussaoui's laptop computer and personal effects. Later, testifying at Moussaoui's trial, Samit testified that he believed the behavior of his FBI superiors in Washington constituted "criminal negligence." WikiLeaks might have provided a pressure valve for those agents who were terribly worried about what might happen and frustrated by their superiors' seeming indifference.

Note: For questions raised about the official account of 9/11 by many courageous professionals, click here and here.


Wall Street Pay: A Record $144 Billion
2010-10-11, Wall Street Journal
http://online.wsj.com/article/SB10001424052748704518104575546542463746562.html

Compensation on Wall Street is on pace to break a record high for a second consecutive year, as more than three dozen top banks and securities firms will pay $144 billion in salary and benefits ... a 4% increase from the $139 billion paid out in 2009. Compensation was expected to rise at 26 of the 35 firms. Overall, Wall Street is expected to pay 32.1% of its revenue to employees, the same as last year, but below the 36% in 2007. Profits, which were depressed by losses in the past two years, have bounced back from the 2008 crisis. But the estimated 2010 profit of $61.3 billion for the firms surveyed still falls about 20% short from the record $82 billion in 2006. Over that same period, compensation across the firms in the survey increased 23%. "Until focus of these institutions changes from revenue generation to long-term shareholder value, we will see these outrageous pay packages and compensation levels," said Charles Elson, director of the Weinberg Center for Corporate Governance.

Note: For many key reports from reliable sources on Wall Street's profiteering, click here.


Congressional Staffers Gain From Trading in Stocks
2010-10-11, Wall Street Journal
http://online.wsj.com/article/SB10001424052748703431604575522434188603198.html

Chris Miller nearly doubled his $3,500 stock investment in a renewable-energy firm in 2008. It was a perfectly legal bet, but he's no ordinary investor. Mr. Miller is the top energy-policy adviser to Nevada Democrat and Senate Majority Leader Harry Reid, who helped pass legislation that wound up benefiting the firm. Mr. Miller isn't the only Congressional staffer making such stock bets. At least 72 aides on both sides of the aisle traded shares of companies that their bosses help oversee, according to a Wall Street Journal analysis of more than 3,000 disclosure forms covering trading activity by Capitol Hill staffers for 2008 and 2009. The Journal analysis showed that an aide to a Republican member of the Senate Banking Committee bought Bank of America Corp. stock before results of last year's government stress tests eased investor concerns about the health of the banking industry. A top aide to the House Speaker profited by trading shares of Freddie Mac and Fannie Mae in a brokerage account with her husband two days before the government authorized emergency funding for the companies. The aides identified by the Journal say they didn't profit by making trades based on any information gathered in the halls of Congress. Even if they had done so, it would be legal, because insider-trading laws don't apply to Congress. Unlike many Executive Branch employees, lawmakers and aides don't have restrictions on their stock holdings and ownership interests in companies they oversee.

Note: Why is Congress exempt from so many of its own laws? Who is willing to start a movement to stop this? For lots more on government corruption from major media sources, click here.


Witnesses in Defense Dept. Report Suggest Cover-Up of 9/11 Findings
2010-10-04, Fox News
http://www.foxnews.com/politics/2010/10/04/exclusive-witnesses-defense-depart...

A document obtained and witnesses interviewed by Fox News raise new questions over whether there was an effort by the Defense Department to cover up a pre-9/11 military intelligence program known as "Able Danger." At least five witnesses questioned by the Defense Department's Inspector General told Fox News that their statements were distorted by investigators in the final IG's report -- or it left out key information, backing up assertions that lead hijacker Mohammed Atta was identified a year before 9/11. Lt. Col Tony Shaffer, an operative involved with Able Danger [and author of Operation Dark Heart, a recent book which discussed the Able Danger operation, and all copies of which were destroyed by the Pentagon] said, "My last interview was very, very hostile." When asked why the IG's report was so aggressive in its denials of his claims and those of other witnesses -- that the data mining project had identified Atta as a threat to the U.S. before 9/11 -- Shaffer said [the] Defense Department was worried about taking some of the blame for 9/11. Specifically, the Defense Intelligence Agency ... wanted the removal of references to a meeting between Shaffer and the executive director of the 9/11 Commission, Philip Zelikow, removed. Shaffer alleges that in that meeting, which took place in Afghanistan, the commission was told about Able Danger and the identification of Atta before the attacks. Shaffer, who was undercover at the time, said there was "stunned silence" at the meeting. No mention of this was made in the final 9/11 Commission report.

Note: Able Danger was the program which identified Mohamed Atta and three other alleged 9/11 hijackers as a potential terror threat before 9/11. To read major media reports on the intense controversy around this program (which is likely why Shaffer's book is being burned by the Pentagon), click here. For a highly revealing Fox News interview with Col. Shaffer on these major deceptions, click here.


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