Media ArticlesExcerpts of Key Media Articles in Major Media
Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
Revelations that prominent radical activist Richard Aoki was an FBI informant have prompted angry denials among his supporters, but newly released records confirm he was secretly providing information to agents during the period he gave the Black Panthers guns and firearms training. The documents from Aoki's FBI informant file - totaling 221 pages - were released after a court challenge under the Freedom of Information Act and show that Aoki was an informant from 1961 to 1977, with only brief interruptions. The records say that at various points, he provided information that was "unique" and of "extreme value." The records chronicle Aoki's 16-year career as an informant, including years in which he was a student at Merritt College in Oakland and at UC Berkeley, participating in the Black Panthers and other radical groups. They also cover years during which Aoki was a teacher at those universities. An early FBI report says Aoki was assigned the alias "Richard Ford" to use when signing reports, as well as a permanent informant number, which the FBI redacted. It notes his date of birth, his parents' names and his address. "Coverage furnished by this informant is unique and not available from any other source," the FBI report says. "Many activist individuals seek informant's advice and counseling since informant is considered as a militant who has succeeded within the establishment without surrending (sic) to it."
Note: Here is undeniable evidence that the FBI was involved in infiltrating movements and radicalizing them with guns and weapons. Why isn't this being discussed widely in the media, particularly as it is likely this is still going on, most recently with the Occupy movement? The revelation that Aoki was an informant was first made last month in a news report and video by the Center for Investigative Reporting, based on the new book Subversives: The FBI's War on Student Radicals, and Reagan's Rise to Power.
Shivani Siroya was one of 19 entrepreneurs at this year's Global Social Benefit Incubator who have been undergoing a critical evaluation from this group, whose members also include venture capitalists and experts in social enterprise. Beyond building successful enterprises, the incubator wants ones that alleviate social needs. "People are not going to give money to you indefinitely, even if you're doing some good in the world. So we have to help these entrepreneurs develop sound business models that will flourish and last," said Eric Carlson, director of the incubator and dean's executive professor in the Leavey School of Business at Santa Clara University. This year's gathering brought together more than 150 mentors, who will continue to work with these enterprises into the fall. One is Jeff Miller, former director of Santa Clara's Center for Science, Technology and Society. He's been an adviser since the program's inception and sees one common thread in many of the young people. "They have such huge, wonderful, passionate visions of how to change the world in energy, water, education and more. But they lack focus. So we encourage them to look at an area that they can focus on and make an impact. This can be a particular demographic or region, which makes for a more concentrated effort." Impact investing, an emerging field for social effect as well as monetary return, has been gaining prominence. But Miller and Carlson are cautious, noting that the area needs to mature and develop an infrastructure. Yet it's quickly become a topic of discussion at the incubator.
Note: For information on microlending, one of the highest impact forms of investing for eliminating poverty in our world while still gaining interest on investment, click here.
The U.S. health care system squanders $750 billion a year — roughly 30 cents of every medical dollar — through unneeded care, byzantine paperwork, fraud and other waste, the influential Institute of Medicine [said] in a report. President Barack Obama and Republican Mitt Romney are accusing each other of trying to slash Medicare and put seniors at risk. But the counter-intuitive finding from the report is that deep cuts are possible without rationing, and a leaner system may even produce better quality. More than 18 months in the making, the report identified six major areas of waste: unnecessary services ($210 billion annually); inefficient delivery of care ($130 billion); excess administrative costs ($190 billion); inflated prices ($105 billion); prevention failures ($55 billion), and fraud ($75 billion). Adjusting for some overlap among the categories, the panel settled on an estimate of $750 billion. The report makes ten recommendations, including payment reforms to reward quality results instead of reimbursing for each procedure, improving coordination among different kinds of service providers, leveraging technology to reinforce sound clinical decisions and educating patients to become more savvy consumers. The report’s main message for government is to accelerate payment reforms, said panel chair Dr. Mark Smith, president of the California HealthCare Foundation, a research group. For employers, it’s to move beyond cost shifts to workers and start demanding accountability from hospitals and major medical groups. For doctors, it means getting beyond the bubble of solo practice and collaborating with peers and other clinicians.
Note: The US spends far more on health care than most other developed countries which provide health care to all of their citizens. The US system is driven by profits. For more on this, click here.
Mounting evidence shows ‘cannabinoids’ in marijuana slow cancer growth, inhibit formation of new blood cells that feed a tumor, and help manage pain, fatigue, nausea, and other side effects. Peer-reviewed studies in several countries ... show that THC and other marijuana-derived compounds, known as “cannabinoids,” are effective not only for cancer-symptom management (nausea, pain, loss of appetite, fatigue), they also confer a direct antitumoral effect. A team of Spanish scientists led by Manuel Guzman conducted the first clinical trial assessing the antitumoral action of THC on human beings. THC treatment was associated with significantly reduced tumor cell proliferation in every test subject. Harvard University scientists reported that THC slows tumor growth in common lung cancer and “significantly reduces the ability of the cancer to spread.” What’s more ... THC selectively targets and destroys tumor cells while leaving healthy cells unscathed. Conventional chemotherapy drugs, by contrast, are highly toxic; they indiscriminately damage the brain and body. There is mounting evidence ... that cannabinoids “represent a new class of anticancer drugs that retard cancer growth, inhibit angiogenesis [the formation of new blood cells that feed a tumor] and the metastatic spreading of cancer cells.” Within the medical science community, the discovery that cannabinoids have anti-tumoral properties is increasingly recognized as a seminal advancement in cancer therapeutics.
Note: Yet treatment with cannabinoids continues to be largely illegal in the US. For an informative 15-minute documentary on the health benefits of juicing raw cannabis, click here. For deeply revealing reports from reliable major media sources on promising cancer-cure research, click here.
Weekend mornings are the busiest days of the week at D-Town Farm. That’s when up to 30 volunteers from across Detroit come out to till the earth and tend the crops at the seven-acre mini-farm on the city’s west side. “One of our goals is to present healthy eating to people,” says Malik Yakini, Director of the Detroit Black Community Food Security Network (DBCFSN), which runs D-Town. “We think that healthy eating optimizes a good life generally. A diet close to nature allows the human body to function the way it is supposed to function.” D-Town is set in one of the city’s greenest areas, a former tree nursery in the 1,184-acre River Rouge Park. It’s ... about a mile upriver from the Brightmoor, a formerly devastated neighborhood that boasts no fewer than 22 community gardens. The Detroit City Council granted use of the land to DBCFSN in 2008. Nowhere in the United States has urban agriculture taken root as prolifically as in Detroit. This gardening renaissance has been growing for over two decades since the Gardening Angels, a group of southern-born African-Americans, began growing food and passing their agricultural knowledge on to another generation. There are more than 1,200 community gardens in Detroit—more per square mile and more per capita than in any other American city. DBCFSN’s goals include empowering African-Americans within the food system and providing fresh, healthy foods in an area where access is not a given. Detroit was among the communities declared food deserts by researcher Mari Gallagher in 2007.
Note: For deeply inspiring reports from major media sources, click here.
"The zombies are coming!" the Homeland Security Department says. Tongue firmly in cheek, the government urged citizens ... to prepare for a zombie apocalypse, part of a public health campaign to encourage better preparation for genuine disasters and emergencies. The theory: If you're prepared for a zombie attack, the same preparations will help during a hurricane, pandemic, earthquake or terrorist attack. The federal Centers for Disease Control and Prevention last year first launched a zombie apocalypse social media campaign for the same purposes. Emergency planners were encouraged to use the threat of zombies - the flesh-hungry, walking dead - to encourage citizens to prepare for disasters. A few of the government's suggestions tracked closely with some of the 33 rules for dealing with zombies popularized in the 2009 movie "Zombieland," which included "always carry a change of underwear" and "when in doubt, know your way out."
Note: Very high strangeness...
[CNN] is seriously compromising its journalism in the Gulf states by blurring the line between advertising and editorial. CNN International (CNNi) [has refused] to broadcast an award-winning documentary, "iRevolution", that was produced in early 2011 as the Arab Spring engulfed the region and which was highly critical of the regime in Bahrain. The documentary ... documented the brutality and violence the regime was using against its own citizens who were peacefully protesting for democracy. CNNi has aggressively pursued a business strategy of extensive, multifaceted financial arrangements between the network and several of the most repressive regimes around the world which the network purports to cover. Its financial dealings with Bahrain are deep and longstanding. CNNi's pursuit of and reliance on revenue from Middle East regimes increased significantly after the 2008 financial crisis, which caused the network to suffer significant losses in corporate sponsorships. It thus pursued all-new, journalistically dubious ways to earn revenue from governments around the world. Bahrain has been one of the most aggressive government exploiters of the opportunities presented by CNNi [which produces] programs in an arrangement it describes as "in association with" the government of a country, and offers regimes the ability to pay for specific programs about their country. These programs are then featured as part of CNNi's so-called "Eye on" series [or] "Marketplace Middle East", [which are] designed to tout the positive economic, social and political features of that country.
Note: For deeply revealing reports from reliable sources on corruption in the major media, click here.
In late March 2011, as the Arab Spring was spreading, CNN sent a four-person crew to Bahrain to produce a one-hour documentary on the use of internet technologies and social media by democracy activists in the region. Featuring on-air investigative correspondent Amber Lyon, the CNN team had a very eventful eight-day stay. The documentary [was] titled "iRevolution: Online Warriors of the Arab Spring". The portion Lyon and her team produced on Bahrain ended up as a 13-minute segment in the documentary. That segment, which as of now is available on YouTube, is a hard-hitting and unflinching piece of reporting that depicts the regime in a very negative light. In the segment, Lyon interviewed activists as they explicitly described their torture at the hands of government forces, while family members recounted their relatives' abrupt disappearances. On 19 June 2011 at 8pm, CNN's domestic outlet in the US aired "iRevolution" for the first and only time. The program received prestigious journalism awards. [But] CNN International never broadcast the documentary. Even in the face of numerous inquiries and complaints from their own employees inside CNN, it continued to refuse to broadcast the program or even provide any explanation for the decision. To date, this documentary has never aired on CNNi. It is CNN International that is, by far, the most-watched English-speaking news outlet in the Middle East. By refusing to broadcast "iRevolution", the network's executives ensured it was never seen on television by Bahrainis or anyone else in the region.
Note: For more on this, see concise summaries of deeply revealing media corruption news articles from reliable major media sources.
The U.S. Justice Department is ramping up its rhetoric against BP [formerly British Petroleum] for the massive 2010 oil spill in the Gulf of Mexico, describing in new court papers examples of what it calls "gross negligence and willful misconduct." The court filing is the sharpest position yet taken by the U.S. government as it seeks to hold the British oil giant largely responsible for the largest oil spill in U.S. history. Gross negligence is a central issue to the case, slated to go to trial in New Orleans in January 2013. A gross negligence finding could nearly quadruple the civil damages owed by BP under the Clean Water Act to $21 billion. The U.S. government and BP are engaged in talks to settle civil and potential criminal liability, though neither side will comment on the status of negotiations. Specifically, errors made by BP and Swiss-based Transocean Ltd, owner of the Deepwater Horizon platform, in deciphering a key pressure test of the Macondo well are a clear indication of gross negligence, the Justice Department said. "That such a simple, yet fundamental and safety-critical test could have been so stunningly, blindingly botched in so many ways, by so many people, demonstrates gross negligence," the government said in its 39-page filing.
Note: For deeply revealing reports from reliable major media sources on corporate corruption, click here.
Eighty percent of the antibiotics sold in the United States goes to chickens, pigs, cows and other animals that people eat, yet producers of meat and poultry are not required to report how they use the drugs - which ones, on what types of animal, and in what quantities. This dearth of information makes it difficult to document the precise relationship between routine antibiotic use in animals and antibiotic-resistant infections in people, scientists say. Advocates contend that there is already overwhelming epidemiological evidence linking the two, something that even the Food and Drug Administration has acknowledged, and that further study, while useful for science, is not essential for decision making. "At some point the available science can be used in making policy decisions," said Gail Hansen, an epidemiologist who works for Pew Charitable Trusts, which advocates against overuse of antibiotics. But scientists say the blank spots in data collection are a serious handicap in taking on powerful producers of poultry and meat who claim the link does not exist. "It’s like facing off against a major public health crisis with one hand tied behind our backs," said Keeve Nachman, an environmental health scientist at the Johns Hopkins Center for a Livable Future, which does research on food systems. "The single biggest problem we face in infectious disease today is the rapid growth of resistance to antibiotics," said Glenn Morris, director of the Emerging Pathogens Institute at the University of Florida. "Human use contributes to that, but use in animals clearly has a part too."
Note: For deeply revealing reports from reliable major media sources on health issues, click here.
Modern wheat is a "perfect, chronic poison," according to Dr. William Davis, a cardiologist who has published a book, [Wheat Belly: Lose the Wheat, Lose the Weight, and Find Your Path Back to Health] all about the world's most popular grain. Davis said that the wheat we eat these days isn't the wheat your grandma had: "It's an 18-inch tall plant created by genetic research in the '60s and '70s," he said. "This thing has many new features nobody told you about, such as there's a new protein in this thing called gliadin. It's not gluten. I'm not addressing people with gluten sensitivities and celiac disease. I'm talking about everybody else because everybody else is susceptible to the gliadin protein that is an opiate. This thing binds into the opiate receptors in your brain and in most people stimulates appetite, such that we consume 440 more calories per day, 365 days per year." Davis said a movement has begun with people turning away from wheat - and dropping substantial weight. "We're seeing hundreds of thousands of people losing 30, 80, 150 pounds. Diabetics become no longer diabetic; people with arthritis having dramatic relief. People losing leg swelling, acid reflux, irritable bowel syndrome, depression, and on and on every day." To avoid these wheat-oriented products, Davis suggests eating "real food," such as avocados, olives, olive oil, meats, and vegetables. "(It's) the stuff that is least likely to have been changed by agribusiness," he said. "Certainly not grains. When I say grains, of course, over 90 percent of all grains we eat will be wheat."
Note: For deeply revealing reports from reliable major media sources on health issues, click here.
The immorality of the United States and Great Britain's decision to invade Iraq in 2003, premised on the lie that Iraq possessed weapons of mass destruction, has destabilised and polarised the world to a greater extent than any other conflict in history. The then-leaders of the US and UK fabricated the grounds to [invade, and] have driven us to the edge of a precipice where we now stand – with the spectre of Syria and Iran before us. The cost ... has been staggering, beginning in Iraq itself. Last year, an average of 6.5 people died there each day in suicide attacks and vehicle bombs, according to the Iraqi Body Count project. More than 110,000 Iraqis have died in the conflict since 2003 and millions have been displaced. By the end of last year, nearly 4,500 American soldiers had been killed and more than 32,000 wounded. On these grounds alone, in a consistent world, those responsible for this suffering and loss of life should be treading the same path as some of their African and Asian peers who have been made to answer for their actions in the Hague. I did not deem it appropriate to have this discussion at the Discovery Invest Leadership Summit in Johannesburg last week. As the date drew nearer, I felt an increasingly profound sense of discomfort about attending a summit on "leadership" with Mr Blair. My appeal to Mr Blair is not to talk about leadership, but to demonstrate it.
Note: This article was written by South African religious and human rights leader Archbishop Emeritus Desmond Tutu of Cape Town. For deeply revealing reports from reliable major media sources on the lies told to launch the US/UK wars of aggression in the Middle East, click here.
In 2006, after a less than illustrious career in the restaurant business, 31-year-old Ben Zempel got a job with wholesaler Costco. That wouldn’t be remarkable in itself, but Zempel has Down syndrome. Since he got the job, he’s happier than ever, according to his mom, Jane. It’s not just employees with a disability—all 163,000 people on Costco’s payroll around the world can count on extraordinary amounts of attention. They’re better paid than competitors’ staff, management solicits their input on store strategy, and full- and part-time workers alike enjoy complete health insurance coverage. It all adds up to low turnover: Just 6 percent of employees decide to leave the company after more than a year. In fact, after 20 Costco staff from Melville, New York, won a $200 million lottery prize last year, only one of them quit—not because of the unexpected fortune but because at 73, he figured it was time to retire. More and more businesses are beginning to realize, as Costco has, that it pays to invest in people. Strikingly, it’s companies that put staff at the top of the list that seem to be doing best. Costco ended 2010 and 2011—tough years for most companies—with hefty profits.
Note: For deeply inspiring reports from reliable sources, click here.
Gone are the days of the all-American army hero. These days, the US military is more like a sanctuary for racists, gang members and the chronically unfit. In the relatively halcyon days of the first Gulf war in 1990, the US military blocked the enlistment of felons. It spurned men and women with low IQs or those without a high school diploma. It would either block the enlistment of or kick out neo-Nazis and gang members. It would treat or discharge alcoholics, drug abusers and the mentally ill. No more. Many of the wars' worst atrocities are linked directly to the loosening of enlistment regulations on criminals, racist extremists, and gang members, among others. By 2005, the US had 150,000 troops deployed in Iraq and 19,500 in Afghanistan. But the military wasn't prepared in any way for this kind of extended deployment. The slim forces needed fattening up and what followed constituted a complete re-evaluation of who was qualified to serve. Information obtained through the Freedom of Information Act ... found the number of convicted criminals enlisting in the US military had nearly doubled in two years, from 824 in 2004 to 1,605 in 2006. A total of 4,230 convicted felons were enlisted, including those guilty of rape and murder. On top of this, 43,977 soldiers signed up who had been found guilty of a serious misdemeanour, which includes assault. Another 58,561 had drug-related convictions, but all were handed a gun and sent off to the Middle East. [And] since its inception, the leaders of the white supremacist movement have encouraged their members to enlist. They see it as a way for their followers to receive combat and weapons training, courtesy of the US government.
Note: Extracted from Irregular Army: How The US Military Recruited Neo-Nazis, Gang Members, And Criminals To Fight The War On Terror, by Matt Kennard. For deeply revealing reports from reliable major media sources on military corruption, click here.
The rightwing transparency group, Judicial Watch, released [on August 28] a new batch of documents showing how eagerly the Obama administration shoveled information to Hollywood film-makers about the Bin Laden raid. Obama officials did so to enable the production of a politically beneficial pre-election film about that "heroic" killing, even as administration lawyers insisted to federal courts and media outlets that no disclosure was permissible because the raid was classified. The newly released emails [were] between Mark Mazzetti, the New York Times's national security and intelligence reporter, and CIA spokeswoman Marie Harf. The CIA had evidently heard that [NY Times columnist] Maureen Dowd was planning to write a column on the CIA's role in pumping the film-makers with information about the Bin Laden raid in order to boost Obama's re-election chances, and was apparently worried about how Dowd's column would reflect on them. This exchange ... is remarkably revealing of the standard role played by establishment journalists and the corruption that pervades it. Here we have a New York Times reporter who covers the CIA colluding with its spokesperson to plan for the fallout from the reporting by his own newspaper ("nothing to worry about"). Beyond this, that a New York Times journalist – ostensibly devoted to bringing transparency to government institutions – is pleading with the CIA spokesperson, of all people, to conceal his actions and to delete the evidence of collusion is so richly symbolic.
Note: For deeply revealing reports from reliable sources on corruption in the major media, click here.
A Navy SEAL's firsthand account of the raid that killed Osama bin Laden pulls back the veil on the secret operations conducted almost nightly by elite American forces against terrorist suspects. Former SEAL Matt Bissonnette's account contradicted in key details the account of the raid presented by administration officials in the days after the May 2011 raid in Abbotabad, Pakistan. Bissonnette wrote that the SEALs spotted bin Laden at the top of a darkened hallway and shot him in the head even though they could not tell whether he was armed. Administration officials have described the SEALs shooting bin Laden only after he ducked back into a bedroom because they assumed he might be reaching for a weapon. Bissonnette wrote the book, No Easy Day, under the pseudonym Mark Owen, as one of the men in the room when they killed bin Laden. In [one] scene, a terrified mother clutches her child and a young girl identifies the dead man as Osama bin Laden. The SEAL author says he did "not disclose confidential or sensitive information that would compromise national security in any way."
Note: Isn't it interesting that the SEAL team "spotted bin Laden at the top of a darkened hallway and shot him in the head." If it was a darkened hallway, how did they know it was bin Laden? The articles states "a young girl identifies the dead man as Osama bin Laden." Is that really how they ID'd this guy? And why did they then dump his body into the ocean, so that there could never be definitive proof that the body was indeed bin Laden? So many questions remain. For more evidence bin Laden was not killed by SEALs, click here.
A former US marine who was taken from his home and involuntarily detained for psychiatric evaluation for posting controversial song lyrics and conspiracy theories on Facebook is to file a civil lawsuit against the FBI and police. Speaking for the first time since his release, after a judge ruled there was insufficient evidence to detain him, Brandon Raub said his experience was frightening and that it sent a "extremely alarming" message to Americans. Raub, 26, a former combat engineer who has served in Iraq and Afghanistan, was taken forcibly from his home in Chesterfield County, Virginia, by two FBI agents and police on 16 August. He was not charged with any crime. He was handcuffed and detained in a psychiatric hospital for seven days before a judge ruled on 23 August that there was not sufficient evidence to keep him there. In an interview ... Raub said: "It made me scared for my country. The idea that a man can be snatched off his property without being read his rights I think should be extremely alarming to all Americans." He said that Americans needed to educate themselves about government intrusions into the lives of citizens, and he urged people to do so. Raub's mother, Cathleen Thomas, told reporters that her son ... is "concerned about all the wars we've experienced" and believes the US government was complicit in the September 11 terrorist attacks. One of his Facebook posts, she said, pictured the gaping hole in the Pentagon and asked "where's the plane?
Note: For deeply revealing reports from reliable major media sources on civil liberties, click here.
Weapons sales by the United States tripled in 2011 to a record high, driven by major sales to Persian Gulf [countries], according to a new study for Congress. Overseas weapons sales by the United States totaled $66.3 billion last year, or nearly 78 percent of the global arms market, valued at $85.3 billion in 2011. Russia was a distant second, with $4.8 billion in deals. The U.S. weapons sales total was an "extraordinary increase" over the $21.4 billion in deals for 2010, the study found, and was the largest single-year sales total in the history of U.S. arms exports. The previous high was in fiscal year 2009, when American weapons sales overseas totaled nearly $31 billion. Increasing tensions with Iran drove a set of Persian Gulf nations -- Saudi Arabia, the United Arab Emirates and Oman -- to spend record amounts on weapons. These states do not share a border with Iran, and their purchases focused on warplanes and complex missile defense systems. The agreements with Saudi Arabia included the purchase of 84 advanced F-15 fighters, a variety of ammunition, missiles and logistics support, and upgrades of 70 of the F-15 fighters in the current fleet ... all contributing to a total Saudi weapons deal with the United States of $33.4 billion, according to the study. The United Arab Emirates bought a Terminal High Altitude Area Defense, an advanced anti-missile shield that is valued at $3.49 billion, as well as 16 Chinook helicopters for $939 million.
Note: For analyses of this deeply revealing Congressional report on the intense preparations for war on Iran, click here and here. If just 1% of these skyrocketing arms sales were put towards feeding the world, global hunger would vanish in no time.
The Trans-Pacific Partnership Agreement (TPP), a pact that the United States is negotiating with Australia, Canada, Japan and eight other countries in the Pacific region ... is packaged as a "free trade" agreement. This label will force all of the respectable types in Washington to support it. The TPP is an effort ... to impose conditions and override domestic laws in a way that would be almost impossible if the proposed measures had to go through the normal legislative process. The expectation is that by lining up powerful corporate interests, the governments will be able to ram this new "free trade" pact through legislatures on a take-it-or-leave-it basis. At this point, it's not really possible to discuss the merits of the TPP since the governments are keeping the proposed text a secret from the public. Only the negotiators themselves and a select group of corporate partners have access to the actual document. One major focus ... will be stronger protection for intellectual property. In the case of recorded music and movies, we might see provisions similar to those that were in the Stop Online Privacy Act (Sopa). Since these measures were hugely unpopular, Sopa could probably never pass as a standalone piece of legislation. But tied into a larger pact and blessed with "free trade" holy water, the entertainment industry may be able to get what it wants. The pharmaceutical industry is also likely to be a big gainer from this pact. It has decided that the stronger patent rules that it inserted in the 1995 WTO agreement don't go far enough. It wants stronger and longer patent protection and also increased use of "data exclusivity".
Note: For more information and a petition against the TPP, click here. For deeply revealing reports from reliable major media sources on government corruption, click here.
When the Justice Department recently closed its criminal investigation of Goldman Sachs, it became all but certain that no major American banks or their top executives would ever face criminal charges for their role in the financial crisis. Justice officials and even President Obama have defended the lack of prosecutions, saying that even though greed and other moral lapses were evident in the run-up to the crisis, the conduct was not necessarily illegal. But that characterization of the financial industry's actions has always defied common sense - and all the more so now that a fuller picture is emerging of the range of banks' reckless and lawless activities, including interest-rate rigging, money laundering, securities fraud and excessive speculation. The financial crisis, fomented over years by big banks and presided over by executives, involved reckless lending, heedless securitizations, exorbitant paydays and illusory profits, all of which led to government bailouts and economic calamity. Is it plausible that none of that broke the law and that none of the people in positions of power and authority knew what was going on? The statute of limitations, generally five years for securities fraud and most other federal offenses, is running out, precluding the possibility of bringing many new suits dating from the bubble years. The result is a public perception that the big banks and their leaders will never have to answer fully for the crisis. The shameless pursuit of Wall Street campaign donations by both political parties strengthens this perception, and further undermines confidence in the rule of law.
Note: For deeply revealing reports from reliable major media sources on the collusion between government and the big banks, click here.
Important Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.