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.

The Japanese government [has] declared that the Fukushima Daiichi nuclear plant had reached a stable state known as “cold shutdown.” But the formal status change at the plant, experts cautioned, means only that its problems have become less dire; they have not disappeared. The plant still leaks radiation into the sea. Its makeshift cooling system is vulnerable to earthquakes. And the cleanup work remains dangerous, with many flooded and debris-strewn areas of the reactor buildings difficult even for robots to access. In normal circumstances, a reactor in cold shutdown mode is entirely stable, its fuel intact, with no chance of a chain reaction. To achieve its version of a cold shutdown at Fukushima Daiichi, ... Japan had to loosen the definition. Fukushima now meets the government’s requirements because temperatures at the bottom of the three damaged reactor pressure vessels have dropped below 100 degrees Celsius (212 degrees Fahrenheit). Airborne leaks into the environment have also been almost halted. The declaration poses new questions for many of the 80,000 people who fled towns around the plant ... since the government had made the cold shutdown a precondition for even considering reopening parts of the no-go zone to residents. Many areas within the no-entry zone — a 12-mile radius around the plant — will be uninhabitable for decades, maybe longer.

Note: For further information on the claim of "cold shutdown" at Fukushima, click here and here.

Just after 6 a.m. on Dec. 5, under cover of darkness, nine Greenpeace activists cut through a fence at the Nogent-sur-Seine atomic plant 95 kilometers (59 miles) southeast of Paris and headed for a domed reactor building. They scaled the roof and unfurled a “Safe Nuclear Doesn’t Exist” banner before attracting the attention of security guards. Two remained at large for four hours. On the same day, two more campaigners breached the perimeter of the Cruas-Meysse plant on the Rhone, escaping detection for more than 14 hours while posting videos of their sit-in on the Internet. The security lapses ... come at a time when debate has intensified on France’s reliance on atomic power for three-quarters of its energy needs in the run-up to next year’s presidential elections. They also preempt next month’s release of the results of safety checks at France’s 58 reactors, commissioned in the aftermath of the Fukushima tragedy. Greenpeace said its activists exposed the biggest security lapse to date at the reactors that are operated by Electricite de France SA.

Note: For lots more on corporate and government corruption, click here and here.

Barack Obama has abandoned a commitment to veto a new security law that allows the military to indefinitely detain without trial American terrorism suspects arrested on US soil who could then be shipped to Guantánamo Bay. Human rights groups accused the president of deserting his principles and disregarding the long-established principle that the military is not used in domestic policing. The legislation has also been strongly criticised by libertarians on the right angered at the stripping of individual rights for the duration of "a war that appears to have no end". The law ... effectively extends the battlefield in the "war on terror" to the US and applies the established principle that combatants in any war are subject to military detention. The law's critics describe it as a draconian piece of legislation that extends the reach of detention without trial to include US citizens arrested in their own country. "It's something so radical that it would have been considered crazy had it been pushed by the Bush administration," said Tom Malinowski of Human Rights Watch. "It establishes precisely the kind of system that the United States has consistently urged other countries not to adopt. At a time when the United States is urging Egypt, for example, to scrap its emergency law and military courts, this is not consistent."

Note: The implications of the passage of this bill to authorize the US military to carry out domestic arrest and imprisonment of US citizens have hardly been reported on by the major media. The defense authorization bill undermines protections established by the Bill of Rights and the Posse Comitatus Act against use of US military forces in domestic control and arrest. For further analysis of the implications of this legislation, click here and here.

Armed with a search warrant, Nelson County Sheriff Kelly Janke went looking for six missing cows on the Brossart family farm in [eastern North Dakota]. He called in reinforcements from the state Highway Patrol, a regional SWAT team, a bomb squad, ambulances and deputy sheriffs from three other counties. He also called in a Predator B drone. Sophisticated sensors under the nose helped pinpoint the three suspects and showed they were unarmed. Police rushed in and made the first known arrests of U.S. citizens with help from a Predator, the spy drone that has helped revolutionize modern warfare. But that was just the start. Local police say they have used two unarmed Predators based at Grand Forks Air Force Base to fly at least two dozen surveillance flights since June. The FBI and Drug Enforcement Administration have used Predators for other domestic investigations, officials said. The drones belong to U.S. Customs and Border Protection, which operates eight Predators on the country's northern and southwestern borders to search for illegal immigrants and smugglers. The previously unreported use of its drones to assist local, state and federal law enforcement has occurred without any public acknowledgment or debate.

Note: "Looking for six cows," the Sheriff called in "a regional SWAT team, a bomb squad, ambulances and deputy sheriffs from three other counties. He also called in a Predator B drone." Does that sound like a reasonable response to the problem of missing cows? Or could there be an agenda to establish aerial surveillance by drones as the norm in the US?

Imam Salahuddin Muhammad could hardly miss Shahed Hussain when he first appeared three years ago at his mosque in the dilapidated town of Newburgh, just 60 miles up the Hudson River from New York. Hussain was flash, drove expensive cars and treated people to gifts of cash and food. Hussain would make Newburgh's Muslim community famous when earlier this year four other black Newburgh Muslims were jailed for 25 years for a 2009 plot to fire a Stinger missile at US military planes. All four followed the instructions of Hussain, who meticulously organised the scheme: from getting the missile and bombs, to reconnaissance missions, to teaching the tenets of radical Islam. Hussain was a fake. In fact, Hussain worked for the FBI as an informant trawling mosques in hope of picking up radicals. Yet far from being active militants, the four men he attracted were impoverished individuals struggling with Newburgh's grim epidemic of crack, drug crime and poverty. Hussain offered the men huge financial inducements to carry out the plot – including $250,000 to one man – and free holidays and expensive cars. The Newburgh Four ... represent the most extreme form of a controversial FBI policy to use invented terrorist plots to lure targets. "There has been no case as egregious as this. It is unique in the incentive the government provided. A quarter million dollars?" said Professor Karen Greenberg, a terrorism expert at Fordham University.

Note: For a powerful BBC documentary showing clearly that much of the war on terror is a fabrication to forward a political agenda, watch Power of Nightmares at this link. For many reports from major media sources on the fake terror behind the "global war on terror", click here.

Silicon Valley technology firms that are lobbying Congress to slash taxes on money they bring home from abroad, arguing that doing so would help them create millions of jobs, already send more than half that money back to the United States without paying taxes, according to a Senate investigation. The corporate tax code permits Google, Cisco, Apple, Adobe Systems, Oracle and other U.S. multinational corporations surveyed to invest nearly $250 billion in the United States without paying the 35 percent corporate tax rate that applies to repatriated foreign earnings, according to the report by the Senate's Permanent Subcommittee on Investigations. The corporations, which are not allowed to invest the money in their own companies, can escape the 35 percent tax if they invest in other domestic assets, such as stocks, bonds and bank deposits. Silicon Valley's technology giants have banded together with pharmaceutical companies and other multinationals in the Win America Coalition in an attempt to get Congress to cut their tax rate from 35 percent to just over 5 percent on overseas earnings they bring home. The survey data showed that Adobe, Apple, Broadcom, Cisco and Google have invested 76 to 100 percent of their foreign earnings in U.S. stocks, bonds, bank deposits and other domestic assets, a greater share than the other companies surveyed.

Note: For lots more on corporate and government corruption, click here and here.

More than 400 sex-crimes reported to Maricopa County Sheriff Joe Arpaio's office during a three-year period ending in 2007 — including dozens of alleged child molestations — ... were inadequately investigated and in some instances were not worked at all, according to current and former police officers familiar with the cases. Many of the victims, said a retired El Mirage police official who reviewed the files, were children of illegal immigrants. The botched sex-crimes investigations have served as an embarrassment to a department whose sheriff is the self-described "America's Toughest Sheriff" and a national hero to conservatives on the immigration issue. Bill Louis, then-assistant El Mirage police chief who reviewed the files after the sheriff's contract ended, believes the decision to ignore the cases was made deliberately by supervisors in Arpaio's office — and not by individual investigators. "I know the investigators. I just cannot believe they would wholesale discount these cases. No way," Louis said. "The direction had to come (from) up the food chain." Louis said he believes whoever made the decision knew that illegal immigrants — who are often transient and fear the police — were unlikely to complain about the quality of investigations.

Note: For powerful evidence from a suppressed Discovery Channel documentary showing that child sexual abuse scandals reach to the highest levels of government, click here.

The federal government has agreed to pay $2.5 million to the widow and children of the first person killed in the anthrax letter attacks of 2001, settling a lawsuit claiming that the Army did not adequately secure its supply of the deadly pathogen. The settlement with the family of Robert Stevens, a tabloid photo editor in Florida, follows an eight-year legal battle that exposed slack rules and sloppy recordkeeping at the Armys biodefense laboratory at Fort Detrick, in Frederick, Md. As part of the agreement, Justice Department lawyers are seeking to have many documents that were uncovered in the litigation kept under court seal or destroyed. Mr. Stevenss widow, Maureen, filed suit against the government in 2003, as evidence accumulated that the anthrax powder in the lethal letters had come from an Army laboratory. Mr. Stevens, 62, died on Oct. 5, 2001, days after inhaling anthrax powder at work.

Note: Why would the government want these documents destroyed? Remember that these attacks, which happened within weeks of the 9/11 attacks, were at first attributed to terrorists. Now it is fully acknowledged they were the responsibility of someone in government. Hmmmmm.

Battlefield technology is coming to the streets of Los Angeles County. Starting this month, one of the nation's major military contractors is outfitting the Los Angeles County Sheriff Department's patrol cars with sophisticated computer systems and high-tech gadgetry that has been perfected for the battlefield. At a total cost to taxpayers of $20 million, Raytheon Co. promises to deliver technology that will enable deputies on the road to sort through key intelligence information in mere seconds. In a single roadside stop, they'll have the ability to run a background check using a searchable FBI database — or pull up a suspect's mug shots or even obtain biometric data, such as fingerprints — on the spot. The Los Angeles County Sheriff's Department is the largest in the nation, covering more than 4,000 square miles and a population of more than 10 million. Daniel J. Crowley, president of Raytheon's Network Centric Systems, noted that ... the Sheriff's Department's new equipment is being used by security forces in the Green Zone in Baghdad to police the area. "The military's situation overseas may be much different from the Sheriff's Department, but the need is basically the same."

Note: For an illuminating article revealing that the Pentagon is supplying police departments across the US with military technology and supplies for no cost, click here.

The White House says it believes that Ahmed Wali Karzai is involved in drug trafficking, and American officials have repeatedly warned President Karzai that his brother is a political liability. Numerous reports link Ahmed Wali Karzai to the drug trade, according to current and former officials from the White House, the State Department and the United States Embassy in Afghanistan, who would speak only on the condition of anonymity. Neither the Drug Enforcement Administration, which conducts counternarcotics efforts in Afghanistan, nor the fledgling Afghan anti-drug agency has pursued investigations into the accusations against the president’s brother. Several American investigators said senior officials at the D.E.A. and the office of the Director of National Intelligence complained to them that the White House favored a hands-off approach toward Ahmed Wali Karzai. The concerns about Ahmed Wali Karzai have surfaced recently because of the imprisonment of an informant who tipped off American and Afghan investigators to [a] drug-filled truck outside Kabul in 2006. The informant, Hajji Aman Kheri, ... said he had been an informant for the Drug Enforcement Administration and United States intelligence agencies, an assertion confirmed by American counternarcotics and intelligence officials. Ever since the American-led invasion of Afghanistan in 2001, critics have charged that the Bush administration has failed to take aggressive action against the Afghan narcotics trade.

Note: For revealing information suggesting the CIA is directly involved in the lucrative opium trade in Afghanistan, click here and here.

The Center for Disease Control's main mission is to prevent disease, and the agency has been credited with some terrific strides in public health. But a startling analysis from Congress says the CDC is squandering hundreds of millions of ... tax dollars. To talk about fat in the CDC budget, you can start 2,000 miles away in Hollywood, where CDC pays a liaison to help TV dramas and soap operas write accurate medical plots. The service is free of charge to Tinseltown moguls, through the generosity of $1.7 million of ... tax dollars. There's the new $109 million headquarters filled with nearly $10 million in furniture, which the report says works out to $12,000 per person in the building. A top Democrat, Sen. Thomas Harkin, gets his name on the new $106 million communications and visitors center, complete with waterfalls, plasma TV's and more. The $200,000 fitness center rivals the most posh private clubs with $30,000 saunas, "quiet rooms" and "zero gravity chairs" complete with "mood-enhancing light shows" for stressed out employees. As for disease prevention, your money's being spent there too, but too often with disappointing results, says the report. The CDC spent $5 billion over seven years on AIDS prevention, but the infection rate didn't drop a bit. After it spent $269 million tax dollars on an effort to eliminate syphilis, syphilis rates went up 68 percent.

Note: For key reports on government corruption from reliable sources, click here.

Oops. That's the word that comes to mind when reading Michael Carroll's thoroughly nerve-wracking book, "Lab 257: The Disturbing Story of the Government's Secret Germ Laboratory" ... about the federal germ facility on Plum Island. The island [is] home to some of the deadliest microbes festering on the planet. According to Carroll's book, the island -- and laboratory -- are also home to slipshod construction, poor safeguards, and lax security. "Lab 257" claims errors at the facility caused Lyme disease outbreaks and health problems for the local population -- claims disputed by the U.S. Department of Agriculture, which ran the facility until recently. Carroll [said] that the point of the book was to expose the potential hazards of a poorly run institution; he has nothing against better-run, more secure institutions. "You have to know how things interact, germs, bacteria, etc. You [just] don't need to create millions of them to know how to create them and make them more virulent. Like other government scientific facilities, it's had an aura of mystery: Plum Island earns a mention in "The Silence of the Lambs," and thriller writer Nelson DeMille set a novel there. Much of Carroll's research was done through interviews with nearby residents, as well as documents and reports. While the government was "cooperative at the outset," Carroll said ... he was later denied access to the facility. Carroll isn't the first to offer criticism. In 2002, after a power outage on the island, New York's WABC-TV did a story on whether containment procedures worked; several employees questioned the lab's safety. In 2003, the General Accounting Office listed security problems on the island, partially prompted by a whistleblower, Jim McCoy, who protested the management of a private concern.

Note: At the northernmost tip of Long Island, Plum island sits directly across from the town of Lyme, Conn., famous as the epicenter of the Lyme disease outbreak. For a powerful, multiple award-winning film showing shocking ignorance and even political corruption on the part of the medical community about the Lyme disease epidemic spreading across the US and even around the world, click here. It shows evidence that Lyme may be even the cause of many cases of ALS, Parkinson's, and Alzheimer's disease.

Eight months have passed since the Department of Homeland Security took over the management of Plum Island from the Agriculture Department. Last week, Homeland Security officials offered a rare glimpse into this veiled and mysterious island. The timing of the tour for a dozen journalists coincided with the publication of a new book, ''Lab 257,'' by Michael Christopher Carroll, who argues that the Plum Island laboratories have an appalling safety record and can be linked to outbreaks of Lyme disease and West Nile virus. There have long been questions about the safety of Plum Island's operations, but they became more prevalent after the Sept. 11 terrorist attacks. Mr. Carroll, a lawyer from Bellmore, writes that in 2002 American forces in Afghanistan found a file on the Plum Island laboratory in the home of a nuclear physicist identified by American officials as an associate of Osama bin Laden. Mr. Carroll, who calls the lab a ticking biological time bomb, describes low employee morale and a decline in security after a private company took over support functions in 1991. A report from the General Accounting Office released in October also criticized security at the center, saying that officials did not control access to dangerous pathogens that could be adapted for germ warfare. The report also cited door alarms and sensors that did not work ... and insufficient background checks. Plum Island and Homeland Security officials said there have been no direct terrorist threats against the lab, which studies foot-and-mouth disease and swine fever, among other diseases.

Note: At the northernmost tip of Long Island, Plum island sits directly across from the town of Lyme, Conn., famous as the epicenter of the Lyme disease outbreak. For a powerful, multiple award-winning film showing shocking ignorance and even political corruption on the part of the medical community about the Lyme disease epidemic spreading across the US and even around the world, click here. It shows evidence that Lyme may be even the cause of many cases of ALS, Parkinson's, and Alzheimer's disease.

Standing on the shores of the East End, you can see across the water to some of Long Island's greatest treasures, tantalizingly close yet forbiddingly inaccessible. They are off limits to the public. A mystique ... envelops the islands, and it is well earned. These islands -- Gardiners, Great Gull, Little Gull, Plum and Robins -- have been the setting of some of Long Island's most exciting historical chapters. Captain Kidd buried pirate treasure there. One Island woman was tried for witchcraft decades before Salem's trials. Another was so beautiful that she dazzled Washington society [and] married the President. And during the cold war, one island was used for secret research for a germ warfare attack on the Soviet Union. Plum Island ... is strictly controlled and it has the tightest security of all the islands. Unlike the secret germ warfare project in the 1950's, the first Federal project on Plum Island was quite open and ordinary. In 1826, the Government belatedly bought 3 of its 800 acres for a lighthouse. About the time of the Spanish-American War, the Government bought the rest of Plum and built Fort Terry as the headquarters for artillery batteries at Montauk. Federal officials ... converted the site to the Animal Disease Center in 1954. Since 1929, the country's only outbreak of the dreaded foot-and-mouth disease was in 1978, when it spread to animals outside the laboratory buildings. For decades, officials denied rumors of biological warfare experiments. But in 1993, Newsday unearthed previously classified documents on plans to disrupt the Soviet economy by spreading diseases to kill its pigs, cattle and horses.

Note: At the northernmost tip of Long Island, Plum island sits directly across from the town of Lyme, Conn., famous as the epicenter of the Lyme disease outbreak. This is one of many pieces of evidence suggesting that Lyme disease escaped from government labs there, as described in the book Lab 257: The Disturbing Story of the Government's Secret Germ Laboratory.

The Department of Homeland Security confirmed last week that the highly contagious foot-and-mouth virus had briefly spread within the Plum Island Animal Disease Center in two previously undisclosed incidents earlier this summer. The incidents and their belated public disclosure raised new questions about laboratory safety and communications to the public. In a letter to the laboratory director, Beth Lautner, dated Aug. 2, Senator Hillary Rodham Clinton and Representative Timothy Bishop of Southampton said they were alarmed that the two incidents had taken place within a one-month span. A spokesman for the department, said the virus had remained within the laboratory's sealed biocontainment area. Asked why the department did not make a public announcement of the events, Mr. Tighe said: "It was within the laboratory environment, safely sealed in biocontainment. This was really an operational issue." Plum Island is the only location in the United States where research on the foot and mouth virus is legally permitted. In 1978, a foot and mouth outbreak among animals in pens outside the laboratory resulted in new procedures for keeping animals used in research inside the biocontainment area. Since taking over the laboratory just over a year ago, Homeland Security had been emphasizing its intention to keep the public informed. But department officials apparently did not heed calls from elected officials to disclose the two incidents sooner.

Note: At the northernmost tip of Long Island, Plum island sits directly across from the town of Lyme, Conn., famous as the epicenter of the Lyme disease outbreak. For a powerful, multiple award-winning film showing shocking ignorance and even political corruption on the part of the medical community about the Lyme disease epidemic spreading across the US and even around the world, click here. It shows evidence that Lyme may be even the cause of many cases of ALS, Parkinson's, and Alzheimer's disease.

GREG PALAST: Protesters say that what we have here is a conspiracy - the World Bank, IMF and World Trade Organisation don't help the poor of the world, they crush them. Well, the bosses are here today, let's ask them. Joseph Stiglitz was chief economist of the World Bank - he should know. He was in the meetings when the World Bank and IMF met to decide the fate of nations. JOSEPH STIGLITZ: They were making the countries worse off. They'll take a strong position on petty larceny and petty theft, but on grand larceny, they'll look the other way. PALAST: The insider says there's a "one-size-fits-all" plan. Every nation gets the same exact four-step programme to the free market paradise. Step one - freedom for hot money. Step two - freedom to increase prices. Step three - free trade for all. Step four, where it all begins, freedom to privatise everything. Insiders saw how it worked in Russia. JOSEPH STIGLITZ: That was the extreme case. You turned over these assets to these oligarchs at a time when the government didn't have enough money to pay pensions to old people. It turned over billions of dollars to a few oligarchs for a fraction of the value of those assets. When it comes to corruption in Russia, they were willing to turn the other way. The IMF and the US Treasury actually almost encouraged it.

Note: To watch the eight-minute video of this BBC clip, click here. For a powerful summary of John Perkins book describing this process in detail, click here. Perkins say he was hired to use the big international banks' money to corrupt dictators and enrich the coffers of the biggest multinational corporations.

Welcome to the macabre world of California's Three Strikes Law, where 25 to life for the theft of a disposable camera is not an aberration. The Department of Corrections projects that by 2002, 1 out of every 4 California prisoners will be a "second or third striker." CDC statistics show that as of March 31 [1998], there were 4,076 prisoners serving third-strike sentences, but fewer than half were imprisoned for convictions for "crimes against persons." According to the Legislative Analyst's Office, almost half of the "third strike" offenses were nonviolent or nonserious felonies, and the most common "second strikes" were drug possession, petty theft and burglary. Prosecutors use the law viciously, frequently against petty, nonviolent offenders. It does not matter that the conviction was from another state, or even another country. Perhaps most significantly, the third strike can be any felony; it does not need to be a "violent" or "serious" one. Thus, offenses such as petty theft can bring a life sentence. While many states have three strikes, only California's is so uncompromising. Moreover, it is not working. According to the Justice Policy Institute, between 1994 and 1995, violent crime in states without three strikes fell three times faster than in states with such laws. RAND, a respected policy analysis institution, found that a graduation incentive program is five times more effective at reducing crime than three strikes.

Note: Remember that the prison-industrial complex is a huge money-making machine for certain connected individuals and corporations. For key reports on government corruption from reliable sources, click here.

Japan's tsunami-stricken nuclear-power complex came closer to a catastrophic meltdown than previously indicated by its operator [which on November 30] described how one reactor's molten nuclear core likely burned through its primary containment chamber and then ate as far as three-quarters of the way through the concrete in a secondary vessel. The [new] assessment—offered by Japan's government and Tokyo Electric Power Co., ... marked Japan's most sobering reckoning to date of the nuclear disaster sparked by the country's March 11 earthquake and tsunami. But it came nearly six months after U.S. and international nuclear experts and regulators had reached similar conclusions. For the first time, Tokyo Electric ... said that nuclear-fuel rods in the complex's No. 1 reactor had likely melted completely, burning through their so-called pressure vessel and then boring through concrete at the bottom of a second containment vessel. That brought the fuel closer than previously believed to breaching the containment vessel and foundation and continuing to burn through the ground below — a scenario sometimes described as the "China Syndrome." The findings are the latest reminder of how much remains unknown about the extent of the mid-March Fukushima Daiichi accident.

Note: For further information on the developing understanding of the severity of the meltdowns at Fukushima, see these reports at The Guardian and The New York Times. For key reports from major media sources on corporate and government corruption, click here and here.

The Senate on Tuesday rejected an effort to strip divisive provisions from a defense bill that deal with the capture and handling of suspected terrorists. “The provisions would dramatically change broad counterterrorism efforts by requiring law enforcement officials to step aside and ask the Department of Defense to take on a new role they are not fully equipped for and do not want,’’ said Sen. Mark Udall, D-Colo., who added that the legislation would make the military “police, judge and jailer.’’ His amendment would have taken out the sections on detainees and instead called for congressional hearings with Pentagon and administration officials on the issue. The bill would require military custody of a suspect deemed to be a member of al-Qaida or its affiliates. The vote came shortly after the weekly Republican and Democratic policy luncheons. A guest at the Republican session was former Vice President Dick Cheney, an advocate for harsh interrogation tactics against suspected U.S. enemies during his two terms in office. Defense Secretary Leon Panetta and FBI Director Robert Mueller have spelled out their opposition in letters to lawmakers. Mueller said Monday that because the legislation applies to people detained in the United States, it could disrupt ongoing international terrorism investigations.

Note: The implications of the Senate's vote to authorize the US military to carry out domestic arrest and imprisonment of US citizens have hardly been reported on by the major media. The defense authorization bill passed by the Senate undermines protections established by the Bill of Rights and the Posse Comitatus Act against use of US military forces in domestic control and arrest. The ACLU has issued an analysis; for further analysis of the implications of this legislation, click here and here.

The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing. The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates. Saved by the bailout, bankers lobbied against government regulations, a job made easier by the Fed, which never disclosed the details of the rescue to lawmakers even as Congress doled out more money and debated new rules aimed at preventing the next collapse. Details suggest taxpayers paid a price beyond dollars as the secret funding helped preserve a broken status quo and enabled the biggest banks to grow even bigger. “When you see the dollars the banks got, it’s hard to make the case these were successful institutions,” says Sherrod Brown, a Democratic Senator from Ohio who in 2010 introduced an unsuccessful bill to limit bank size. “This is an issue that can unite the Tea Party and Occupy Wall Street.”

Note: For a treasure trove of reports from reliable sources on corruption and collusion between government officials and the largest financial firms, click 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.