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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.


FDA panel urges new look at "silver" teeth fillings
2010-12-15, MSNBC/Reuters
Posted: 2010-12-28 17:55:33
http://www.msnbc.msn.com/id/40604587/ns/health

Enough uncertainty surrounds silver-colored metal dental fillings with mercury that U.S. regulators should add more cautions for dentists and patients, a U.S. advisory panel [has] said. The fillings should be accompanied by warnings about unknown risks for vulnerable people such as children and pregnant women. "There really is no place for mercury in children," Suresh Kotagal, a panelist and neurologist at the Mayo Clinic in Rochester, Minnesota, said of the toxic metal. Mercury has been linked to neurological damage at high exposure levels and makes up about half of a metal filling. While the panel stopped short of urging a ban, it wants the FDA to look at the latest data and reassess its guidance after the agency last year declared the fillings safe. Some European nations have banned amalgam use. Critics told the advisers there was a clear link between mercury fillings and side effects, especially in more vulnerable patients. They should be banned or not implanted unless patients give consent, they said.

Note: Why is mercury still used in most dental fillings, when there is a known risk and other materials are available? Our teeth are not a good place for mercury. Studies have proven that small amounts of mercury are released by these fillings in gases into the mouth, only the toxicity is debated. For more, click here.


Planning for Terror but Failing to Act
2001-12-30, New York Times
Posted: 2010-12-28 17:48:08
http://www.nytimes.com/2001/12/30/national/30TERR.html

An extensive review of the nation's antiterrorism efforts shows that for years before Sept. 11, ... top leaders never reacted as if they believed the country was as vulnerable as it proved to be that morning. Dozens of interviews with current and former officials demonstrate that even as the threat of terrorism mounted through eight years of the Clinton administration and eight months of President Bush, the government did not marshal its full forces against it. The rising threat of the Islamic jihad movement was first detected by United States investigators after the 1993 bombing of the World Trade Center. The inquiry into that attack revealed a weakness in the immigration system used by one of the terrorists, but that hole was never plugged, and it was exploited by one of the Sept. 11 hijackers. On at least three occasions between 1998 and 2000, the C.I.A. told the White House it had learned where Mr. bin Laden was and where he might soon be. Each time, Mr. Clinton approved the strike. Each time, George Tenet, the director of central intelligence, called the president to say that the information was not reliable enough to be used in an attack, a former senior Clinton administration official said."

Note: For many unanswered questions about the official explanation of what happened before and on 9/11 raised by highly credible officials and professionals, click here and here.


Warnings: Earlier Hijackings Offered Signals That Were Missed
2001-10-03, New York Times
Posted: 2010-12-28 17:45:04
http://www.nytimes.com/2001/10/03/us/a-nation-challenged-warnings-earlier-hij...

Over and over since Sept. 11, aviation and security officials have said they were shocked that terrorists had hijacked airliners and crashed them into landmark buildings. ''This is a whole new world for us,'' Jane F. Garvey, the administrator of the Federal Aviation Administration, said in testimony before a House subcommittee on Sept. 20. But the record shows that for her and others, there were numerous warnings. In 1994, two jetliners were hijacked by people who wanted to crash them into buildings, one of them by an Islamic militant group. And the 2000 edition of the F.A.A.'s annual report on Criminal Acts Against Aviation, published this year, said that although Osama bin Laden ''is not known to have attacked civil aviation, he has both the motivation and the wherewithal to do so." The previous year's edition of that report said that an exiled Islamic leader in Britain proclaimed in August 1998 that Mr. bin Laden would ''bring down an airliner, or hijack an airliner to humiliate the United States.'' The authorities appeared to draw no lessons from the two attacks in 1994.

Note: For many unanswered questions about the official explanation of what happened before and on 9/11 raised by highly credible officials and professionals, click here and here.


A Secretive Banking Elite Rules Trading in Derivatives
2010-12-12, New York Times
Posted: 2010-12-20 17:57:28
http://www.nytimes.com/2010/12/12/business/12advantage.html

On the third Wednesday of every month, the nine members of an elite Wall Street society gather in Midtown Manhattan. The men share a common goal: to protect the interests of big banks in the vast market for derivatives, one of the most profitable — and controversial — fields in finance. They also share a common secret: The details of their meetings, even their identities, have been strictly confidential. Drawn from giants like JPMorgan Chase, Goldman Sachs and Morgan Stanley, the bankers form a powerful committee that helps oversee trading in derivatives, instruments which, like insurance, are used to hedge risk. In theory, this group exists to safeguard the integrity of the multitrillion-dollar market. In practice, it also defends the dominance of the big banks. The banks in this group ... have fought to block other banks from entering the market, and they are also trying to thwart efforts to make full information on prices and fees freely available. Banks’ influence over this market, and over clearinghouses like the one this select group advises, has costly implications for businesses large and small. The size and reach of this market has grown rapidly over the past two decades. Pension funds today use derivatives to hedge investments. States and cities use them to try to hold down borrowing costs. Airlines use them to secure steady fuel prices. Food companies use them to lock in prices of commodities like wheat or beef.

Note: To explore highly revealing news articles on the powerful secret societies which without doubt back these top bankers, click here. For a treasure trove of reports from reliable sources detailing the amazing control of major banks over government and society, click here.


U.S. officials protected Gestapo agents
2010-12-10, MSNBC/Associated Press
Posted: 2010-12-20 17:55:44
http://www.msnbc.msn.com/id/40605965/ns/us_news-crime_and_courts

A report to Congress reveals details on how U.S. intelligence officials used and protected some Nazi Gestapo agents after World War II. The report was authored by historians hired by the U.S. National Archives and Records Administration. The report draws from an unprecedented trove of records on clandestine operations that the CIA was persuaded to declassify and from previously inaccessible Army intelligence files. "The CIA records give us a much better picture of the movements of Nazi war criminals in the postwar period. The Army records are voluminous, and will be keeping people busy for many years," said Richard Breitman, of the American University in Washington, D.C., who co-authored the report with Norman J.W. Goda, of the University of Florida. The records were made available under the Nazi War Crimes Disclosure Act of 1998. Nazi hunters and lawmakers have long raised questions about what U.S. government knew and its involvement with war criminals during the Cold War. The Nazi War Crimes Disclosure Act has so far resulted in more than 8 million documents being declassified; a landmark 2005 book on U.S. Intelligence and the Nazis in part authored by Breitman and Goda; and a final report to Congress.

Note: The CIA would never have declassified these documents were it not for pressure from caring citizens which caused Congress to act. For details of the CIA employment of Nazis in its post-war mind-control experimentation on humans without their consent, click here.


Italy court ups sentences for 23 CIA agents
2010-12-15, MSNBC/Associated Press
Posted: 2010-12-20 17:53:54
http://www.msnbc.msn.com/id/40682905/ns/world_news-europe

An Italian appeals court on [December 15] increased the sentences against 23 Americans convicted in the kidnapping of an Egyptian terror suspect who was part of the CIA's extraordinary renditions program. In upholding the convictions, the court added one year to the eight-year term handed down to former Milan CIA station chief Robert Seldon Lady and two years to the five-year terms given to 22 other Americans convicted along with him, defense lawyers said. They were never in Italian custody and were tried and convicted in absentia but risk arrest if they travel to Europe. The Americans and two Italians were convicted last year of involvement in the kidnapping of ... Abu Omar from a Milan street on Feb. 17, 2003 — the first convictions anywhere in the world against people involved in the CIA's practice of abducting terror suspects and transferring them to third countries where torture was permitted. The cleric was transferred to U.S. military bases in Italy and Germany before being moved to Egypt, where he says he was tortured. He has since been released. Amnesty International praised [the] decision as a step toward demanding greater accountability in Europe for the CIA's extraordinary rendition program. Julia Hall, an Amnesty counter-terrorism expert, said in a statement, "The Italian courts have acknowledged that the chain of events leading to such serious abuses cannot go unanswered. Kidnapping is a crime, not a 'state secret.' "

Note: This is amazing news which shows that the CIA is losing its former status as immune in courts of law.


TSA Under Fire for New Security Procedures
2010-11-22, ABC News
Posted: 2010-12-20 17:49:49
http://abcnews.go.com/Travel/tsa-responds-passenger-outrages-underwear-search...

The Transportation Security Administration has come under fire for new body scanners and what some say are highly invasive pat-downs. Thomas Sawyer, a bladder cancer survivor, said he was humiliated after a pat-down broke his urostomy bag, leaving the 61-year-old covered in his own urine. Sawyer said he warned the TSA officials twice that the pat-down could break the seal. Cathy Bossi, a long-time flight attendant and breast cancer survivor, said the TSA made her take off her prosthetic breast. "She put her full hand on my breast and said, 'What is this?' I said 'It's a prosthesis because I've had a breast cancer,'" Bossi said. "And she said, 'You'll need to show me that.'" In recent days, several passengers have come forward to tell such shocking stories about their experiences with TSA officers. An ABC News employee said she was subject to a "demeaning" search at Newark Liberty International Airport Sunday morning. "The woman who checked me reached her hands inside my underwear and felt her way around," she said. "It was basically worse than going to the gynecologist. It was embarrassing. It was demeaning. It was inappropriate." The head of the Transportation Security Administration John Pistole ... has said the TSA would not change its pat-down procedures.

Note: For lots more from major media sources on increasing threats to privacy, click here.


Air Force Blocks Sites That Posted Secret Cables
2010-12-15, New York Times
Posted: 2010-12-20 17:45:31
http://www.nytimes.com/2010/12/15/us/15wiki.html

The Air Force is barring its personnel from using work computers to view the Web sites of The New York Times and more than 25 other news organizations and blogs that have posted secret cables obtained by WikiLeaks, Air Force officials said. When Air Force personnel on the service’s computer network try to view the Web sites of The Times, the British newspaper The Guardian, the German magazine Der Spiegel, the Spanish newspaper El País and the French newspaper Le Monde, as well as other sites that posted full confidential cables, the screen says “Access Denied: Internet usage is logged and monitored,” according to an Air Force official whose access was blocked and who shared the screen warning with The Times. Violators are warned that they face punishment if they try to view classified material from unauthorized Web sites. Some Air Force officials acknowledged that the steps taken might be in vain since many military personnel could gain access to the documents from home computers, despite admonishments from superiors not to read the cables without proper clearances.

Note: For key reports from major media sources on government secrecy, click here.


Allied Irish Banks to pay €40m bonuses despite bailout
2010-12-08, The Guardian (One of the UK's leading newspapers)
Posted: 2010-12-20 17:43:10
http://www.guardian.co.uk/business/2010/dec/08/allied-irish-banks-pay-bonuses...

Stricken Allied Irish Banks is preparing to hand out €40m (Ł34m) of bonuses next week – despite being on the brink of receiving another emergency bailout from the Irish government. As many as 2,400 bankers in its Dublin capital markets division are to receive the payments on 17 December under agreements struck with the bank in 2008. The bank, 19% owned by Ireland's taxpayers but expected to reach 95% state-ownership, had originally been blocked from making the payments under one of the government's bailout programmes. But legal action by a trader, John Foy, over a deferred €161,000 bonus awarded in 2008 has led the bank to conclude it will need to pay bonuses to many of the staff to whom they were awarded for that year. The bonuses are being handed out at a time when the government is instigating four years of tax rises and brutal cuts to benefits. Bankers are receiving much of the blame for forcing Ireland to take international assistance and implement the austerity budgetary measures.

Note: For lots more from reliable sources on the worldwide bailout by taxpayers of failed banks, click here.


CalPERS lawsuit shows need for strict ethics rules
2010-12-15, San Francisco Chronicle (San Francisco's leading newspaper)
Posted: 2010-12-20 17:41:13
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/12/14/BAB81GQJ8B.DTL

An independent examiner has just recommended stricter ethics rules for managers of the $218.8 billion California Public Employees' Retirement System. According to a suit filed by state Attorney General Jerry Brown, back in 2007, CalPERS board member-turned-investment broker Alfred Villalobos took one of the pension fund's senior investment officers on a private jet ride to New York to attend a Museum of Modern Art fundraiser honoring a client Villalobos was representing. The client, Leon Black, heads the private-equity firm Apollo Global Management, which was seeking a $700 million investment from CalPERS. According to the suit, Villalobos and the investment officer, Leon Shahinian, shared a $1,000-a-night-plus suite at the five-star Mandarin Oriental Hotel. The suit claims Villalobos' firm billed the trip to Apollo. Sometime after, the suit claims, Shahinian touted the $700 million investment to the CalPERS board with nary a mention of the New York trip - and the deal was approved. Shahinian was not named as a defendant in Brown's suit, which is seeking $95 million in penalties against Villalobos and CalPERS' former chief executive, Fred Buenrostro - both of whom have denied any wrongdoing. As for Shahinian, who also maintains he did nothing wrong, he was placed on paid administrative leave over the incident and four months later resigned from CalPERS, where he was earning about $350,000 a year.

Note: For lots more on government and corporate corruption from major media sources, click here and here.


WikiLeaks cables: Pfizer 'used dirty tricks to avoid clinical trial payout'
2010-12-09, The Guardian (One of the UK's leading newspapers)
Posted: 2010-12-20 17:38:52
http://www.guardian.co.uk/business/2010/dec/09/wikileaks-cables-pfizer-nigeria

The world's biggest pharmaceutical company hired investigators to unearth evidence of corruption against the Nigerian attorney general in order to persuade him to drop legal action over a controversial drug trial involving children with meningitis, according to a leaked US embassy cable. Pfizer was sued by the Nigerian state and federal authorities, who claimed that children were harmed by a new antibiotic, Trovan, during the trial, which took place in the middle of a meningitis epidemic of unprecedented scale in Kano in the north of Nigeria in 1996. But the cable suggests that the US drug giant did not want to pay out to settle the two cases – one civil and one criminal – brought by the Nigerian federal government. The cable reports a meeting between Pfizer's country manager, Enrico Liggeri, and US officials at the Abuja embassy on 9 April 2009. It states: "According to Liggeri, Pfizer had hired investigators to uncover corruption links to federal attorney general Michael Aondoakaa to expose him and put pressure on him to drop the federal cases. He said Pfizer's investigators were passing this information to local media." The cable ... continues: "A series of damaging articles detailing Aondoakaa's 'alleged' corruption ties were published in February and March. Liggeri contended that Pfizer had much more damaging information on Aondoakaa and that Aondoakaa's cronies were pressuring him to drop the suit for fear of further negative articles."

Note: For more on this revealing case, see the New York Times article available here.


Court OKs Hormone-Free Label On Dairy Products In Ohio
2010-10-01, NPR blog
Posted: 2010-12-20 17:36:11
http://www.npr.org/blogs/health/2010/10/01/130270131/court-give-hormone-free-...

A federal court yesterday struck down an Ohio ban on dairy products whose labels say they're made from milk that's free of hormones that increase cows' milk production. That means companies that want to say their products are "rbGH free" and "rbST free" and "artificial hormone free" are now free to do so. The ruling challenges the FDA's 17-year-old finding that there's "no significant difference" between the milk of cows given growth hormone and those that aren't. Just that sort of distinction ... is part of the ongoing debate about how to label genetically engineered salmon. The Court of Appeals for the Sixth Circuit said there is a "compositional difference" between milk from cows given growth hormones and those without. The court gave three reasons they're different: * Increased levels of the hormone IGF-1; * A period of milk with lower nutritional quality during each lactation; and * Increased somatic cell counts (i.e. more pus in the milk). But the FDA concluded in 1993 when it approved the growth hormone that the milk shows "no significant difference" in milk from untreated cows.

Note: To learn more about how your health has been endangered by previous media and government decisions, click here. For a stunning 10-minute video clip showing how crazy this can get, click here.


Houston Police Drone Aircraft
2007-11-23, CNN
Posted: 2010-12-20 17:26:28
http://edition.cnn.com/TRANSCRIPTS/0711/23/sitroom.02.html

Transcript: [Suzanne] MALVEAUX: A Texas mystery solved -- at least partially. We now know Houston police are going to start using unmanned drone aircraft. But the question remains, well, for what? Stephen Dean of CNN affiliate KPRC has got an exclusive look. STEPHEN DEAN, KPRC CORRESPONDENT (voice-over): HPD [Houston Police Dept.], the federal Department of Homeland Security and other invited guests all watching to see how this drone could be used for police work in and around Houston. We tracked that drone from News Chopper 2. And that drone was able to use a high-powered camera to track us. Those cameras can actually look into people's homes or even follow them in moving cars -- which raises all sorts of new questions. HPD quickly hustled together a news conference when it realized our cameras were there for the entire secret test. Executive Assistant Chief Martha Mantabo admits that could mean covert police action. But she says it's too early to tell what else HPD will do with the aircraft. We asked, are these drones headed for ticketing speeders from the sky? MONTALVO: I'm not ruling anything out. DEAN: Back at the secret test site, police helicopter pilots claimed the entire air space was restricted and even threatened our local 2 Investigates pilot with action from the FAA if we didn't leave. But we checked with FAA several times and there never was a flight restriction. That leaves some to wonder whether the police are now ready to use terrorism fears since 911 to push the envelope further into our private lives.

Note: To watch the video of secret police work in action, click here.


72 super PACs spent $83.7 million on election, financial disclosure reports show
2010-12-03, Washington Post
Posted: 2010-12-13 21:25:05
http://www.washingtonpost.com/wp-dyn/content/article/2010/12/03/AR20101203069...

The newly created independent political groups known as super PACs, which raised and spent millions of dollars on last month's elections, drew much of their funding from private-equity partners and others in the financial industry, according to new financial disclosure reports. The 72 super PACs, all formed this year, together spent $83.7 million on the election. The figures provide the best indication yet of the impact of recent Supreme Court decisions that opened the door for wealthy individuals and corporations to give unlimited contributions. The financial disclosure reports also underscore the extent to which the flow of corporate money will be tied to political goals. Private-equity partners and hedge fund managers, for example, have a substantial stake in several issues before Congress, primarily the taxes they pay on their earnings. "Super PACs provide a means for the super wealthy to have even more influence and an even greater voice in the political process," said Meredith McGehee, a lobbyist for the Campaign Legal Center, which advocates for tighter regulation of money in politics.

Note: For key reports on growing threats to the US electoral process, click here.


Senator Bernie Sanders on the War Between the Shrinking Middle Class and the Wealthy
2010-11-30, U.S. Senate Testimony
Posted: 2010-12-13 21:22:46
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.


A Real Jaw Dropper at the Federal Reserve
2010-12-02, Yahoo News/Huffington Post
Posted: 2010-12-13 21:20:11
http://news.yahoo.com/s/huffpost/20101202/cm_huffpost/791091

As a result of an amendment that I was able to include in the Wall Street reform bill, we have begun to lift the veil of secrecy at the Fed. It is unfortunate that it took this long, and it is a shame that the biggest banks in America and Mr. Bernanke fought to keep this secret from the American public every step of the way. But, the details on this bailout are now on the Federal Reserve's website. This is a major victory for the American taxpayer and for transparency in government. After years of stonewalling by the Fed, the American people are finally learning the incredible and jaw-dropping details of the Fed's multi-trillion-dollar bailout of Wall Street and corporate America. What have we learned so far from the disclosure of more than 21,000 transactions? We have learned that the $700 billion Wall Street bailout signed into law by President George W. Bush turned out to be pocket change compared to the trillions and trillions of dollars in near-zero interest loans and other financial arrangements the Federal Reserve doled out to every major financial institution in this country.

Note: The author is Senator Bernie Sanders (I-VT). For key reports from reliable sources on the massive federal bailout of the biggest banks and financial firms, click here.


Tension grows between Calif. Muslims, FBI after informant infiltrates mosque
2010-12-05, Washington Post
Posted: 2010-12-13 21:16:53
http://www.washingtonpost.com/wp-dyn/content/article/2010/12/04/AR20101204037...

Before the sun rose, the informant donned a white Islamic robe. A tiny camera was sewn into a button, and a microphone was buried in a device attached to his keys. The undercover FBI informant - a convicted forger named Craig Monteilh - then drove off for 5 a.m. prayers at the Islamic Center of Irvine, where he says he spied on dozens of worshipers in a quest for potential terrorists. Monteilh's mission as an informant backfired. Muslims were so alarmed by his talk of violent jihad that they obtained a restraining order against him. He had helped build a terrorism-related case against a mosque member, but that also collapsed. The Justice Department recently took the extraordinary step of dropping charges against the worshiper, who Monteilh had caught on tape agreeing to blow up buildings, law enforcement officials said. Prosecutors had portrayed the man as a dire threat. Compounding the damage, Monteilh has gone public, revealing secret FBI methods and charging that his "handlers" trained him to entrap Muslims as he infiltrated their mosques, homes and businesses. He is now suing the FBI. Officials ... confirm that he was a paid FBI informant. Court records and interviews corroborate not only that Monteilh worked for the FBI - he says he made $177,000, tax-free, in 15 months - but that he provided vital information on a number of cases.

Note: For lots more from reliable sources on the long series of fake terror scares used by governments to control their domestic populations by fear, click here.


Why does the FBI Orchestrate Fake Terror Plots?
2010-11-30, Global Research
Posted: 2010-12-13 21:14:42
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.


Nigeria charges Dick Cheney in Halliburton bribery case
2010-12-07, MSNBC/Associated Press
Posted: 2010-12-13 21:07:57
http://www.msnbc.msn.com/id/40555171/ns/world_news-africa/

Nigeria's anti-corruption agency on [December 7] charged former U.S. Vice President Dick Cheney over a bribery scheme involving oil services firm Halliburton Co. during time he served as its top official. The charges stem from a case involving as much as $180 million allegedly paid in bribes to Nigerian officials, said Femi Babafemi, a spokesman for the Economic and Financial Crimes Commission. Halliburton and other firms allegedly paid the bribes to win a contract to build a $6 billion liquefied natural gas plant in Nigeria's oil-rich southern delta, he said. The Halliburton case involves its former subsidiary KBR, a major engineering and construction services firm based in Houston. In February 2009, KBR Inc. pleaded guilty in U.S. federal court to authorizing and paying bribes from 1995 to 2004 for the plant contracts in Nigeria. The spokesman said each charge in the 16-count indictment carried as much as three years in prison. Nigeria, a major oil supplier to the U.S., long has been considered by analysts and watchdog groups as having one of the world's most corrupt governments.

Note: For lots more from major media sources on government and corporate corruption, click here and here.


Brooksley Born foresaw disaster but was silenced
2010-12-05, San Francisco Chronicle (San Francisco's leading newspaper)
Posted: 2010-12-13 21:05:19
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.


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.

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