Government Corruption News Stories

Excerpts of Key Government Corruption News Stories 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: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.

Nearly half of American adults believe the federal government, corporations or both are involved in at least one conspiracy to cover up health information, a new survey finds. Conspiracy theories on everything from cancer cures to cellphones to vaccines are well known and accepted by sizable segments of the population, according to a research letter published this week in JAMA Internal Medicine. The findings reflect "a very low level of trust" in government and business, especially in pharmaceutical companies, says study co-author Eric Oliver, a professor of political science at the University of Chicago. The online survey of 1,351 adults found: • 37% agree the Food and Drug Administration is keeping "natural cures for cancer and other diseases" away from the public because of "pressure from drug companies." • 20% believe health officials are hiding evidence that cellphones cause cancer. • 20% believe doctors and health officials push child vaccines even though they "know these vaccines cause autism and other psychological disorders." • Smaller numbers endorse theories involving fluoride, genetically modified foods and the deliberate infection of African Americans with HIV. • 49% believe at least one of the theories and 18% believe at least three. The beliefs also go along with certain health behaviors, the survey found. Those who believe at least three health conspiracy theories are less likely to use sunscreen, get flu shots or get check-ups and are more likely to use herbal remedies and eat organic foods.

Note: For an intriguing list of 10 major health cover-ups with evidence to back it up, click here.

The National Security Agency has built a surveillance system capable of recording “100 percent” of a foreign country’s telephone calls, enabling the agency to rewind and review conversations as long as a month after they take place, according to people with direct knowledge of the effort and documents supplied by former contractor Edward Snowden. A senior manager for the program compares it to a time machine — one that can replay the voices from any call without requiring that a person be identified in advance for surveillance. The voice interception program, called MYSTIC, began in 2009. Its RETRO tool, short for “retrospective retrieval,” and related projects reached full capacity against the first target nation in 2011. Planning documents two years later anticipated similar operations elsewhere. In the initial deployment, collection systems are recording “every single” conversation nationwide, storing billions of them in a 30-day rolling buffer that clears the oldest calls as new ones arrive, according to a classified summary. Analysts listen to only a fraction of 1 percent of the calls, but the absolute numbers are high. Each month, they send millions of voice clippings, or “cuts,” for processing and long-term storage. At the request of U.S. officials, The Washington Post is withholding details that could be used to identify the country where the system is being employed or other countries where its use was envisioned.

Note: Though technically it is illegal for the NSA to snoop on Americans without good cause, all they have to do is to share this technology with another country like the UK, and then ask the UK to do the snooping and send the results back to them, thereby circumventing the law. For more on NSA surveillance, see the deeply revealing reports from reliable major media sources available here.

The National Security Agency has reportedly used automated systems to infect user computers with malware since 2010. At times the agency pretended to be Facebook to install its malware. The NSA has been using a program codenamed TURBINE to contaminate computers and networks with malware "implants" capable of spying on users, according to the Intercept, which cited documents provided by whistleblower Edward Snowden. Between 85,000 and 100,000 of these implants have been deployed worldwide thus far. To infect computers with malware, the NSA has relied on various tactics, including posing as Facebook. The federal agency performed what is known as a "man-on-the-side" attack in which it tricked users computers into thinking that they were accessing real Facebook servers. Once the user had been fooled, the NSA hacked into the user's computer and extracted data from their hard drive. Facebook said it had no knowledge of the NSA"s TURBINE program. However, [Facebook] said it is no longer possible for the NSA or hackers to attack users that way, but Facebook warned that other websites and social networks may still be vulnerable to those types of attacks. "This method of network level disruption does not work for traffic carried over HTTPS, which Facebook finished integrating by default last year," Facebook told the National Journal.

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

The US came under sharp criticism at the UN human rights committee in Geneva on [March 13] for a long list of human rights abuses that included everything from detention without charge at Guantánamo, drone strikes and NSA surveillance, to the death penalty, rampant gun violence and endemic racial inequality. The experts raised questions about the National Security Agency’s surveillance of digital communications in the wake of Edward Snowden’s revelations. The committee’s 18 experts [are] charged with upholding the International Covenant on Civil and Political Rights (ICCPR), a UN treaty that the US ratified in 1992. The US came under sustained criticism for its global counter-terrorism tactics, including the use of unmanned drones to kill al-Qaida suspects, and its transfer of detainees to third countries that might practice torture, such as Algeria. Committee members also highlighted the Obama administration’s failure to prosecute any of the officials responsible for permitting waterboarding and other “enhanced interrogation” techniques under the previous administration. Walter Kälin, a Swiss international human rights lawyer who sits on the committee, attacked the US government’s refusal to recognise the convention’s mandate over its actions beyond its own borders. The US has asserted since 1995 that the ICCPR does not apply to US actions beyond its borders - and has used that “extra-territoriality” claim to justify its actions in Guantánamo and in conflict zones.

Note: How sad that it appears this news was not reported in any major US media.

Four years after President Obama promised to crack down on mortgage fraud, his administration has quietly made the crime its lowest priority and has closed hundreds of cases after little or no investigation, the Justice Department’s internal watchdog said on [March 13]. The report by the department’s inspector general undercuts the president’s contentions that the government is holding people responsible for the collapse of the financial and housing markets. The administration has been criticized, in particular, for not pursuing large banks and their executives. The inspector general’s report ... shows that the F.B.I. considered mortgage fraud to be its lowest-ranked national criminal priority. In several large cities, including New York and Los Angeles, F.B.I. agents either ranked mortgage fraud as a low priority or did not rank it at all. The F.B.I. received $196 million from the 2009 to 2011 fiscal years to investigate mortgage fraud, the report said, but the number of pending cases and agents investigating them dropped in 2011. Mortgage fraud was one of the causes of the 2008 financial collapse. Mortgage brokers and lenders falsified documents, sometimes to make mortgages look safer, other times to make the property look more valuable.

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

Lawmakers of both parties are desperately trying to stop the Internal Revenue Service from interfering with the most powerful political invention that ever fell into their laps: the use of non-profit groups as a source of unlimited and anonymous campaign money. An investigation now unfolding in Utah ... exposes in remarkable detail how profoundly the non-profit system can be corrupted for the benefit of a single industry and a single politician. The politician involved was John Swallow, a former lobbyist for an empire of payday-loan and check-cashing companies. When Mr. Swallow ran for Utah Attorney General as a Republican in 2012, his strategist established several social-welfare groups, which don’t have to name their donors, so that the payday-loan industry could support him financially without anyone knowing. The groups collected hundreds of thousands of dollars in secret donations from the industry, and the money was used to run attack ads against Mr. Swallow’s opponent, who wanted to crack down on payday lenders. The ads worked, and Mr. Swallow was elected. When the I.R.S. started looking into the non-profit groups and demanding documentation, ... Congressional Republicans accused the agency (falsely) of singling out conservative non-profit groups. Eventually, a parallel state investigation drove Mr. Swallow from office; he resigned last fall, and last week a state legislative panel accused him of breaching the public trust by hanging “a veritable ‘for sale’ sign on the office door that invited moneyed interests to seek special treatment and favors.”

Note: For more on serious problems with the US electoral system, see the deeply revealing reports from reliable major media sources available here.

In the tense days after a powerful earthquake and tsunami crippled the Fukushima Daiichi power plant in Japan on March 11, 2011, staff at the U.S. Nuclear Regulatory Commission made a concerted effort to play down the risk of earthquakes and tsunamis to America’s aging nuclear plants, according to thousands of internal emails reviewed by NBC News. The emails, obtained via the Freedom of Information Act, show that the campaign to reassure the public about America’s nuclear industry came as the agency’s own experts were questioning U.S. safety standards and scrambling to determine whether new rules were needed to ensure that the meltdown occurring at the Japanese plant could not occur here. At the end of that long first weekend of the crisis three years ago, NRC Public Affairs Director Eliot Brenner thanked his staff for sticking to the talking points that the team had been distributing to senior officials and the public. "While we know more than these say," Brenner wrote, "we're sticking to this story for now." There are numerous examples in the emails of apparent misdirection or concealment in the initial weeks after the Japanese plant was devastated: When asked to help reporters explain what would happen during the worst-case scenario -- a nuclear meltdown -- the agency declined to address the questions. The emails pull back the curtain on the agency’s efforts to protect the industry it is supposed to regulate. The NRC officials didn't lie, but they didn't always tell the whole truth either. When someone asked about a topic that might reflect negatively on the industry, they changed the subject.

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

Malaysia's prime minister says the disappearance of Malaysia Airlines Flight 370 appears to be "deliberate." The latest evidence suggests the plane didn't experience a catastrophic incident over the South China Sea as was initially suspected. Prime Minister Najib Razak said the investigation has refocused onto the crew and passengers aboard the missing plane. He added that ... all possibilities are still being investigated. A Malaysian government official who is involved in the investigation said investigators have concluded that one of the pilots or someone else with flying experience hijacked the missing Malaysia Airlines jet. The official said that hijacking was no longer a theory. "It is conclusive." A Malaysian official, who also declined to be identified because he is not authorized to brief the media, said only a skilled aviator could navigate the plane the way it was flown after its last confirmed location over the South China Sea. The official said it had been established with a "more than 50 percent" degree of certainty that military radar had picked up the missing plane after it dropped off civilian radar. Malaysian officials have said radar data suggest it may have turned back and crossed back over the Malaysian peninsula westward, after setting out toward the Chinese capital. The flight altered its course more than once after it lost contact with ground control and that it made significant changes in altitude. Investigators say there's further evidence suggesting the jet did not crash immediately after being lost on radar; a transmitter on the plane tried for another four hours to ping satellites.

Note: Why is the military radar 50% certain? How could a transmitter on the plane ping for four hours, yet no one on the plane made a phone call? Remember that after Flight 93 was hijacked on 9/11, many phone calls were made by passengers on the plane. There is an abundance of high strangeness to this airplane's disappearance. For valuable speculation on the missing flight not well covered in the major media, click here. For some very unusual radar evidence of its disappearance, click here.

Senate Intelligence Committee Chair Dianne Feinstein accused the CIA on [March 11] of violating the law and the Constitution of the United States by interfering in a committee investigation into Bush-era torture of terror suspects. Feinstein said the CIA had removed documents provided to the committee through a special, segregated network set up by the agency for the committee to pursue its investigation. Among the documents removed was an internal review of CIA interrogation techniques conducted by then-CIA Director Leon Panetta, which committee members have said corroborated committee findings critical of the agency’s interrogation program. “The CIA just went and searched the committee’s computers,” Feinstein said on the Senate floor. “This was done without the knowledge or approval of committee members or staff, and in violation of our written agreements. Further, this type of behavior would not have been possible had the CIA allowed the committee to conduct the review of documents here in the Senate,” Feinstein said. Feinstein said that the CIA’s activities may have violated the Fourth Amendment, the Computer Fraud and Abuse Act, and executive order 12333, which bars the CIA from conducting domestic surveillance. Feinstein also said the CIA’s activities violated the separation of powers principles in the Constitution by interfering with congressional oversight of the executive branch.

Note: For more on the out-of-control activities of intelligence agencies, see the deeply revealing reports from reliable major media sources available here.

Former NSA contractor Edward Snowden accused Sen. Dianne Feinstein of hypocrisy ... for complaining about alleged CIA spying on U.S. senators while tolerating government spying on private citizens. "It's clear the CIA was trying to play 'keep away' with documents relevant to an investigation by their overseers in Congress, and that's a serious constitutional concern,” said Snowden in a statement to NBC News. “But it's equally if not more concerning that we're seeing another 'Merkel Effect,' where an elected official does not care at all that the rights of millions of ordinary citizens are violated by our spies, but suddenly it's a scandal when a politician finds out the same thing happens to them." Snowden was ... referring to German Chancellor Angela Merkel’s indignation at reports that the U.S. had listened in on her personal conversations, but her failure to condemn the NSA for mass surveillance of communications of German citizens. Both were revealed by the release of documents that Snowden took from NSA computers and distributed to journalists.

Note: For more on the out-of-control activities of intelligence agencies, see the deeply revealing reports from reliable major media sources available here.

The confirmation in December that former CIA Director Leon Panetta let classified information slip to "Zero Dark Thirty" screenwriter Mark Boal during a speech at the agency headquarters should result in a criminal espionage charge if there is any truth to Obama administration claims that it isn't enforcing the Espionage Act only against political opponents. I'm one of the people the Obama administration charged with criminal espionage, one of those whose lives were torn apart by being accused, essentially, of betraying [their] country. The president and the attorney general have used the Espionage Act against more people than all other administrations combined, but not against real traitors and spies. The law has been applied selectively, often against whistle-blowers and others who expose illegal, corrupt government actions. After I blew the whistle on the CIA's waterboarding torture program in 2007, I was the subject of a years-long FBI investigation. In 2012, the Justice Department charged me with "disclosing classified information to journalists, including the name of a covert CIA officer and information revealing the role of another CIA employee in classified activities." I had revealed no more than others who were never charged, about activities ... that were hardly secret. I am serving a 30-month sentence. The Espionage Act, the source of the most serious charges against me, was written and passed during World War I and... is so outdated that it refers only to "national defense information" rather than "classified information," because the classification system had not yet been invented.

Note: The author of this article, John Kiriakou, is a former CIA counter-terrorism officer and former senior investigator on the Senate Foreign Relations Committee. He is incarcerated in the Federal Correctional Institution in Loretto, Pa. You can read about his case at http://www.defendjohnk.com. For more on the out-of-control activities of intelligence agencies, see the deeply revealing reports from reliable major media sources available here.

It was early December when the Central Intelligence Agency began to suspect it had suffered what it regarded as an embarrassing computer breach. Investigators for the Senate Intelligence Committee, working in the basement of a C.I.A. facility in Northern Virginia, had obtained an internal agency review summarizing thousands of documents related to the agency’s detention and interrogation program. Parts of the C.I.A. report cast a particularly harsh light on the program, the same program the agency was in the midst of defending in a prolonged dispute with the intelligence committee. What the C.I.A. did next opened a new and even more rancorous chapter in the struggle over how the history of the interrogation program will be written. Agency officials began scouring the digital logs of the computer network used by the Senate staff members to try to learn how and where they got the report. Their search not only raised constitutional questions about the propriety of an intelligence agency investigating its congressional overseers, but has also resulted in two parallel inquiries by the Justice Department — one into the C.I.A. and one into the committee. Each side accuses the other of spying on it, with the Justice Department now playing the uneasy role of arbitrator in the bitter dispute. “It’s always been a dicey proposition to be investigating Congress,” said W. George Jameson, a C.I.A. lawyer for decades. “You don’t do it lightly.”

Note: For more on the out-of-control activities of intelligence agencies, see the deeply revealing reports from reliable major media sources available here.

The authors of a study calling for GM crops to be fast-tracked into Britain’s farms and kitchens all have links to the industry. The report was presented as the work of ‘independent’ scientists and was published on [March 13] by a government advisory body. It was used to support a bid to speed up the development of the controversial crops in the UK, but it has emerged that all five authors have a vested interest in promoting GM crops and food – and some are part-funded by the industry. Critics of GM [have] described the report as ‘biased and downright dangerous’, and accused the biotech giants and the Government of mounting a crude propaganda campaign to overturn public opposition. The academics behind the study were chosen by the Council for Science and Technology, the body that advises the Prime Minister on science policy issues. They include Professor Sir David Baulcombe, from Cambridge University, who works as a consultant for GM firm Syngenta, which gives his department research funding. Syngenta is behind a genetically modified maize or corn, called GA21, which could go into UK farms as early as next spring, making it Britain’s first commercially grown GM crop. Also on the list is Professor Jonathan Jones, of the Sainsbury Laboratory, which is at the centre of Britain’s GM research. It is part-funded by former Labour science minister, Lord Sainsbury, who is one of the country’s biggest supporters of the technology. Another co-author was Professor Jim Dunwell, of the University of Reading. He was a founder member of CropGen, which describes its mission as ‘to make the case for GM crops and foods’

Note: For more on government corruption, see the deeply revealing reports from reliable major media sources available here. For an excellent summary of the risks and dangers from GMO foods, click here.

The Senate on [March 6] rejected a ... bill to remove military commanders from decisions over the prosecution of sexual assault cases in the armed forces, delivering a defeat to advocacy groups that argued that wholesale changes are necessary to combat an epidemic of rapes and sexual assaults in the military. The measure, pushed by Senator Kirsten E. Gillibrand, Democrat of New York, received 55 votes — five short of the 60 votes needed. The vote came after a debate on the Senate floor filled with drama and accusations that Ms. Gillibrand and her allies were misguided. The debate pitted the Senate’s 20 women against one another, and seemed bound to leave hard feelings, given that a solid majority of the Senate actually backed Ms. Gillibrand’s proposal. Congress began scrutinizing the sexual assault problem in the military after a recent series of highly publicized cases, including one at the Naval Academy, and after the release of new data from the Pentagon on the issue. On Sept. 30, the end of the last fiscal year, about 1,600 sexual assault cases in the military were awaiting either action from commanders or the completion of criminal investigations. Critics of the military’s handling of such cases say that the official numbers represent a tiny percentage of sexual assault cases, while Ms. Gillibrand said that only one in 10 sexual assaults were reported. She and her supporters argue that forcing victims to go to their commanders to report sexual assaults is similar to forcing a woman to tell her father that her brother has assaulted her.

Note: For more on sexual abuse scandals, see the deeply revealing reports from reliable major media sources available here.

A top judge campaigned to support a paedophile group that tried to legalise sex with children, a newspaper claims. The Mail on Sunday said Lord Justice Fulford was a founder member of a campaign to defend the Paedophile Information Exchange (PIE). The judge told the BBC he had "no memory" of this, but had in the 1970s been involved with a civil liberties group to which PIE was affiliated. He said he had never supported PIE and child abuse was "wholly wrong". The Daily Mail has run a series of articles questioning the links between PIE and civil liberties group the National Council for Civil Liberties during the 1970s and early 1980s. PIE had called for greater tolerance and paedophile "rights" and campaigned for a lowering of the age of consent to 10. Labour deputy leader Harriet Harman, her husband and fellow Labour MP Jack Dromey and former Labour health secretary Patricia Hewitt were all prominent figures in the NCCL, which granted PIE affiliate status in 1975. Ms Hewitt has apologised for having "got it wrong", while Mr Dromey has accused the Daily Mail of "dirty, gutter journalism". Ms Harman has said she "regrets" the links between the two groups but she has "nothing to apologise for". The Mail on Sunday said its investigation had found that Lord Justice Fulford, a member of the Privy Council, was a founder member of a campaign set up to defend PIE against criminal charges.

Note: If you are ready to see how investigations into a massive child sex abuse ring have led to the highest levels of government, watch the suppressed Discovery Channel documentary "Conspiracy of Silence," available here. For more on sexual abuse scandals, see the deeply revealing reports from reliable major media sources available here.

An Indiana University faculty member has sued two U.S. customs agents for detaining her after the government eavesdropped on emails she exchanged with a Greek friend. The American Civil Liberties Union of Indiana filed a federal lawsuit [on February 19] alleging the customs agents violated Christine Von Der Haar’s constitutional protection against unreasonable searches and seizures. “This case raises troubling issues about the power of the government to detain and question citizens,” said Ken Falk, the ACLU of Indiana legal director who represents Von Der Haar. The lawsuit alleges Von Der Haar, a senior lecturer in the sociology department at Indiana University in Bloomington, was confined in a guarded room at Indianapolis International Airport for more than 20 minutes on June 8, 2012, while she was questioned about her relationship with her friend. The lawsuit alleges the questioning was based on surreptitious monitoring of communications between Von Der Haar and her friend, Dimitris Papatheodoropoulus. The two “communicated frequently through emails. Some of these emails were flirtatious and romantic in nature,” the lawsuit said. Von Der Haar felt she had no choice but to answer questions from the agents, whom she believed to be armed, and did not believe she could leave until they released her, the lawsuit said. “The detention of Dr. Von Der Haar was without cause or justification,” the complaint said, and “caused her anxiety, concern, distress and other damages.” The lawsuit names the two customs agents as defendants and seeks damages.

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

As staff for the Senate Intelligence Committee gathered information to conduct oversight of the CIA, the CIA was secretly monitoring them, according to reports from McClatchy [News] and the New York Times. The committee staff was reviewing documents in a secure room at CIA headquarters as part of its investigation into the CIA's now-defunct detention and interrogation program, but the agency was secretly monitoring their work, according to reports. Complaints about the spying have reportedly prompted the CIA inspector general -- the agency's internal watchdog -- to look into the agency's behavior. Sen. Mark Udall, D-Colo., seemed to reference the surveillance in a letter to President Obama ... in which he urged the president to support the fullest declassification of the committee's CIA report. "As you are aware, the C.I.A. has recently taken unprecedented action against the committee in relation to the internal C.I.A. review, and I find these actions to be incredibly troubling for the committee's oversight responsibilities and for our democracy," Udall wrote. "It is essential that the Committee be able to do its oversight work -- consistent with our constitutional principle of the separation of powers -- without the CIA posing impediments or obstacles as it is today." Sen. Martin Heinrich, D-N.M., another member of the intelligence committee, declared in a statement Wednesday, "The Senate Intelligence Committee oversees the CIA, not the other way around."

Note: For more on the realities of intelligence agency activities, see the deeply revealing reports from reliable major media sources available here.

Should wealthy litigants be able to rent state judges and courthouses to decide cases in private and keep the results secret? The answer should be an easy no, but if the judges of Delaware’s Chancery Court persuade the United States Supreme Court to take their case and reverse lower federal court rulings outlawing that practice, corporations will, in Delaware, be able to do just that. The state has long been a magnet for corporate litigation because of its welcoming tax structures and the court’s business expertise. Yet the State Legislature became concerned that Delaware was losing its “pre-eminence” in corporate litigation to a growing market in private dispute resolution. To compete, Delaware passed a law in 2009 offering new privileges to well-heeled businesses. If litigants had at least $1 million at stake and were willing to pay $12,000 in filing fees and $6,000 a day thereafter, they could use Delaware’s chancery judges and courtrooms for what was called an “arbitration” that produced enforceable legal judgments. Instead of open proceedings, filings would not be docketed, the courtroom would be closed to the public and the outcome would be secret. The Delaware Supreme Court could review judgments, but that court has not indicated whether appeals would also be confidential. A group called the Coalition for Open Government, including news and civic organizations, objected that Delaware’s legislation was unconstitutional. In 2012, a federal judge agreed that the law violated the public’s right of access to civil proceedings under the First Amendment.

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

An advisory committee of the Food and Drug Administration is set to begin two days of meetings tomorrow to consider radical biological procedures that, if successful, would produce genetically modified human beings. This is a dangerous step. These techniques would change every cell in the bodies of children born as a result of their use, and these alterations would be passed down to future generations. The F.D.A. calls them mitochondrial manipulation technologies. The procedures involve removing the nuclear material either from the egg or embryo of a woman with inheritable mitochondrial disease and inserting it into a healthy egg or embryo of a donor whose own nuclear material has been discarded. Any offspring would carry genetic material from three people — the nuclear DNA of the mother and father, and the mitochondrial DNA of the donor. Developers of these modification techniques say they are a way for women with mitochondrial disease to give birth to healthy children to whom they are related genetically. Some are also promoting their use for age-related infertility. These procedures are deeply problematic in terms of their medical risks and societal implications. Will the child be born healthy, or will the cellular disruptions created by this eggs-as-Lego-pieces approach lead to problems later on? What about subsequent generations? And how far will we go in our efforts to engineer humans? Unfortunately, there are now worrisome signs that opposition to inheritable genetic modifications, written into law by dozens of countries, according to our count, may be weakening. British regulators are also considering mitochondrial manipulations, and proponents there, like their counterparts in the United States, want to move quickly to clinical trials.

Note: For more on the dangers to society of genetic engineering, see the deeply revealing reports from reliable major media sources available here.

The US Federal Reserve knew about Libor rigging three years before the financial scandal exploded but did not take any firm action, documents have revealed. According to newly published transcripts of the central bank’s meetings in the run-up to and immediate aftermath of the collapse of Lehman Brothers, a senior Fed official first flagged the issue at a policy meeting in April 2008. William Dudley expressed fears that banks were being dishonest in the way they were calculating the London interbank offered rate – a global benchmark interest rate used as the basis for trillions of pounds of loans and financial contracts. Three years after his remarks, it emerged that traders at more than a dozen banks, including Lloyds, Royal Bank of Scotland and Barclays, had routinely been trying to fix the official Libor rate in order to boost their own bonuses and profits. The transcript of the Fed’s April 2008 meeting raises questions about why the central bank did not move to properly tackle the scandal. There was no official regulator for Libor at the time, and officials at the US Federal Reserve tried to blame British authorities for allowing the benchmark interest rate to get out of control in the first place. The Fed declined to comment on the transcripts or why it had not taken firm action..

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

Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.