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Media Articles
Excerpts of Key Media Articles in Major Media


Below are key excerpts of highly revealing media articles from the major media. Links are provided to the full articles on their media websites. If any link fails to function, read this webpage. These media articles are listed in reverse date order. You can also explore the articles listed by order of importance or by date posted. By choosing to educate ourselves and to spread the word, we can build a brighter future.

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.


Man Celebrates 65th Birthday by Giving Away Free Money
2012-07-13, Yahoo! News
http://shine.yahoo.com/work-money/man-celebrates-65th-birthday-giving-away-fr...

Doug Eaton wanted to celebrate his birthday on June 11 in a big way, so he turned to his friends for ideas [and] ended up marking the day with random acts of kindness, including handing out free money to people passing by. "I asked a bunch of my friends ... what should I do on my 65th and I got a whole long list of stuff," he told KFOR-TV. "And one of my friends said, 'Why don't you do 65 random acts of kindness?'" So that's exactly what he did, spending 65 minutes standing on the corner of NW 39th Street and May Avenue in Oklahoma City, handing out $5 bills to people who passed by. From a distance, Eaton looked a bit like any other panhandler holding a sign at a street corner. But instead of a plea for money, his sign read: "I have a home… and a car… and a job. Do you need a few bucks for some coffee?" Many people murmured "I can't believe this" or "bless you" as he handed them the cash. Others were reluctant to take his money, and he had to tell them "It's OK, it's just a blessing" and explain that this was his way of celebrating his milestone birthday. "This day has been one of the biggest blessings of my recent life," he [said]. "I don't know if I can wait until another birthday to do this again. But what if it became a habit? Or what if everyone or a lot of people did their birthday number of random acts of kindness on their birthday? How good would that be?"

Note: For lots more highly inspiring articles from the major media, click here.


Auditors say billions likely wasted in Iraq work
2012-07-13, MSNBC/Associated Press
http://www.msnbc.msn.com/id/48177878

After years of following the paper trail of $51 billion in U.S. taxpayer dollars provided to rebuild a broken Iraq, the U.S. government can say with certainty that too much was wasted. But it can't say how much. In what it called its final audit report, the Office of the Special Inspector General for Iraq Reconstruction Funds ... spelled out a range of accounting weaknesses that put "billions of American taxpayer dollars at risk of waste and misappropriation" in the largest reconstruction project of its kind in U.S. history. "The precise amount lost to fraud and waste can never be known," the report said. The office has spent more than $200 million tracking the reconstruction funds, and in addition to producing numerous reports, his office has investigated criminal fraud that has resulted in 87 indictments, 71 convictions and $176 million in fines and other penalties. These include civilians and military members accused of kickbacks, bribery, bid-rigging, fraud, embezzlement and outright theft of government property and funds. Of the $51 billion that Congress approved for Iraq reconstruction, about $20 billion was for rebuilding Iraqi security forces and about $20 billion was for rebuilding the country's basic infrastructure.

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


Was the petrol price rigged too?
2012-07-12, The Telegraph (One of the UK's leading newspapers)
http://www.telegraph.co.uk/earth/energy/fuel/9401934/Libor-scandal-Was-the-pe...

Motorists may have been paying too much for their petrol because banks and other traders are likely to have tried to manipulate oil prices in the same way they rigged interest rates, an official report has warned. Concerns are growing about the reliability of oil prices, after a report for the G20 found the market is wide open to “manipulation or distortion”. Traders from banks, oil companies or hedge funds have an “incentive” to distort the market and are likely to try to report false prices, it said. Petrol retailers use oil price “benchmarks” to decide how much to pay for future supplies. The rate is calculated by data companies based on submissions from firms which trade oil on a daily basis – such as banks, hedge funds and energy companies. However, like Libor ... the market is unregulated and relies on the honesty of the firms to submit accurate data about all their trades. This is one of the major concerns raised in the G20 report, published last month by the International Organisation of Securities Commissions (IOSCO). In the study for global finance ministers, including George Osborne, the regulator warns that traders have opportunities to influence oil prices for their own profit. It points out that the whole market is “voluntary”, meaning banks and energy companies can choose which trades to make public. IOSCO says this “creates opportunity for a trader to submit a partial picture in order to influence the [price] to the trader’s advantage”.

Note: For deeply revealing reports from reliable major media sources on regulatory and financial corruption and criminality, click here.


FBI to review thousands of old cases for flawed evidence
2012-07-12, NBC News
http://usnews.nbcnews.com/_news/2012/07/12/12708918-fbi-to-review-thousands-o...

The Justice Department is going through thousands of cases from the days before DNA testing to see whether the government exaggerated the significance of the FBI's hair analysis. The review, the largest in U.S. history, will focus on work by FBI Laboratory hair and fiber examiners since at least 1985, the Washington Post reported. A reporter at the Post had been working on a story about Donald Gates, a D.C. man released after DNA evidence proved his innocence, when he learned about Frederic Whitehurst, an FBI lab chemist who blew the whistle on the FBI Laboratory in the mid-1990s. Whitehurst said he watched colleagues contaminate evidence and, in court, overstate the significance of their matches. When Whitehurst, a chemist with a doctoral degree from Duke, arrived at the FBI crime lab in 1986, the first thing he noticed was that the place was, as he called it, a pigsty. The equipment was outdated and there was a film of black soot coating the counters – a dust from the vents that the agents called “black rain.” After the first World Trade Center bombing, Whitehurst testified that supervisors pressured him to concoct misleading scientific reports. When he refused to testify that a urea nitrate bomb had been the source of the explosion, the FBI found another lab technician to testify. He learned that an agent had, for the previous nine years, rewritten his scientific reports to support the prosecution.

Note: For deeply revealing reports from reliable major media sources on intelligence agency corruption, click here.


JPMorgan’s black eye nears $6B as bank says traders may have tried to conceal losses
2012-07-12, Washington Post/Associated Press
http://www.washingtonpost.com/business/jpmorgan-ceo-will-try-to-provide-clari...

JPMorgan Chase said Friday that its traders may have tried to conceal the losses from a soured bet that has embarrassed the bank and cost it almost $6 billion — far more than its CEO first suggested. The bank said an internal investigation had uncovered evidence that led executives to “question the integrity” of the values, or marks, that traders assigned to their trades. JPMorgan also said that it planned to revoke two years’ worth of pay from some of the senior managers involved in the bad bet, and that it had closed the division of the bank responsible for the mistake. “This has shaken our company to the core,” CEO Jamie Dimon said. The bank said the loss, which Dimon estimated at $2 billion when he disclosed it in May, had grown to $5.8 billion. The investigation, which covered more than a million emails and tens of thousands of voice messages, suggested traders were trying to make losses look smaller, the bank said. The revelation could expose JPMorgan to civil fraud charges. If regulators decide that employee deceptions caused JPMorgan to report inaccurate financial details, they could pursue charges against the employees, the bank or both. JPMorgan could not necessarily hide behind the actions of its employees. Regulators could decide that its oversight or risk management contributed to the problematic statements.

Note: Yet will anyone go to jail for these shady activities? For key investigative reports on the criminality and corruption in the financial industry and biggest banks, click here.


Helping 'Kliptown' kids take control of their future
2012-07-12, CNN
http://www.cnn.com/2012/07/12/world/africa/cnnheroes-madondo-kliptown/index.html

Brian Munyai has spent nearly all of his 22 years living in a small metal shack that has never had electricity or running water. Conditions like this are typical for the nearly 40,000 people who live in the slums of Kliptown, a district in the largely black township of Soweto, South Africa. In high school, he heard about the Kliptown Youth Program. The after-school program, commonly known as KYP, provided him with intensive tutoring that helped him pass his senior exams and find funding to attend the University of Johannesburg. Stories like this motivate Thulani Madondo, the director and co-founder of KYP. A lifelong Kliptown resident, he has a goal of helping people like Munyai change their lives and their community through education. Right now, Madondo's group provides academic support, meals and after-school activities to 400 children. Every Monday through Thursday at 4 p.m. sharp, students hit the books in the tutoring program. Primary school students are tutored by the program's staff twice a week; on alternate days, professional teachers work with the high school students to prepare them for the matriculation exams required at the end of 12th grade. Books can be borrowed from the program's library -- the only one in the community -- and there are nearly 300 Internet-accessible laptops that were donated through the nonprofit One Laptop Per Child. So far, 21 members, including Munyai, have gone on to a university. [KYP provides] some financial assistance and helps members find ways to finance the rest.

Note: Check out the Kliptown Youth Program website at www.kliptownyouthprogram.org.za and see how to help. For a treasure trove of great news articles which will inspire you to make a difference, click here.


New Homeland Security Laser Scanner Reads People At Molecular Level
2012-07-11, CBS-DC (Washington DC CBS affiliate)
http://washington.cbslocal.com/2012/07/11/new-homeland-security-laser-scanner...

The Department of Homeland Security will soon be using a laser at airports that can detect everything about you from over 160 feet away. This laser-based scanner ... could read everything from a person’s adrenaline levels, to traces of gun powder on a person’s clothes, to illegal substances — and it can all be done without a physical search. It also could be used on multiple people at a time, eliminating random searches at airports. The scanner is called the Picosecond Programmable Laser. The device works by blasting its target with lasers which vibrate molecules that are then read by the machine that determine what substances a person has been exposed to. The inventor of this invasive technology is Genia Photonics. Active since 2009, they hold 30 patents on laser technology designed for scanning. In 2011, they formed a partnership with In-Q-Tel, a company chartered by the CIA and Congress to build “a bridge between the Agency and a new set of technology innovators.” Although the technology could be used by “Big Brother,” Genia Photonics states that the device could be far more beneficial being used for medical purposes to check for cancer in real time, lipids detection, and patient monitoring.

Note: For deeply revealing reports from reliable major media sources on government threats to privacy, click here.


An arms treaty on the block
2012-07-11, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/opinion/editorials/article/An-arms-treaty-on-the-block-...

One of the world's deadliest businesses - the $55 billion-per-year arms trade - prefers to operate in the shadows. Bananas, cold pills and truck tires come with more market rules and international norms. This shameful gap could be filled by a United Nations agreement nearing completion in New York. The Arms Trade Treaty would require signatory countries to abide by clear rules on the import, export and transfer of weapons, ranging from small arms to air-defense systems. The aim is to bring a lethal, back-alley game into the open and curb sales to brushfire wars and terrorist groups. Think of Syria, Sudan and Somalia as prime examples where outside guns, tanks or helicopters are killing thousands. Governments, militias and guerrilla movements with the cash can buy virtually anything through brokers with the right connections. The United States, as the top seller of arms, has a special duty to improve this patchwork system. The Obama administration has pushed for approval of the treaty, a healthy break from the Bush White House, which favored a country-by-country approach that achieved little. But don't think this treaty is a slam-dunk. Gun-rights groups such as the National Rifle Association bristle at any mention of weapons controls and see the treaty as a threat to domestic gun ownership. It's nothing of the sort, and State Department negotiators have made Second Amendment guarantees an absolute "red line" in talks.

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


Researchers blame antibiotics in chicken for superbugs transmitted to women
2012-07-11, WCPO-TV (The Cincinnati ABC affiliate)
http://www.wcpo.com/dpp/news/health/healthy_living/researchers-blame-anitbiot...

Medical researchers tell ABC News that more than 8 million women are at risk for hard-to-treat bladder infections, because superbugs from chicken are being transmitted to humans. If the researchers are right, there is compelling new evidence of a direct link between the superbugs and the antibiotic-fed chicken we buy at the grocery store. The Food and Drug Administration says 80 percent of all antibiotics sold in the US are fed to livestock and chickens to protect them from disease in cramped quarters. Researchers say they do not have a definitive link between the E. coli in chicken and infection in women, but they say there is "persuasive" evidence that chicken carries the same bacteria with the highest levels of resistance to medicine as causes the drug resistant infection in women.

Note: For revealing reports from reliable major media sources on health issues, click here.


Ex-CIA agent: Roswell, N.M., incident really happened
2012-07-10, USA Today
http://content.usatoday.com/communities/ondeadline/post/2012/07/ex-cia-agent-...

A former CIA agent is going on the record to say the alleged UFO incident on July 8, 1947, in Roswell, N.M., really happened. Chase Brandon, who worked 35 years with the CIA, said documents regarding the alleged landing of beings from outer space are locked up at the CIA's headquarters in Langley, Va. "It was in a vaulted area - there was one box that really caught my eye," the Daily Mail quotes Brandon as saying. "It had one word on it: Roswell. I rummaged inside it, put the box on the shelf and said, 'My God, it really happened.'" Brandon [made] the comments during the 65th anniversary of the alleged incident, which military officials initially explained as the capture of "a disc," but later explained away as a weather balloon. "It was not a weather balloon - it was what people first reported," the [Daily Mail] quotes Brandon as saying. The Huffington Post quotes Brandon as saying, "It was a craft that clearly did not come from this planet." Brandon worked as an undercover, covert operations officer in the CIA's Clandestine Service, where he focused on missions on international terrorism, counterinsurgency, global narcotics and weapons smuggling. He spent his final decade with the agency as liaison to the entertainment and publication industries, and it was during this time - in the mid 1990s - that he walked into the vaulted Historical Intelligence Collection area at CIA headquarters, according to the news organization. Brandon said the box contained written material and photographs.

Note: For a great Huffington Post article on this, click here. For the Daily Mail article, click here. For an excellent, intriguing eight-minute video featuring Chase Brandon on his knowledge of CIA training, click here. For verifiable quotes from a former head of the CIA, two astronauts, and other top officials on a huge UFO cover-up, click here.


Time for ‘Banksters’ to be prosecuted
2012-07-10, Washington Post
http://www.washingtonpost.com/opinions/katrina-vanden-heuvel-time-for-bankste...

Once more the big banks are exposed in systematic fraudulent activity. When Barclays agreed to a $450 million fine for trying to rig the Libor, its CEO offered the classic excuse: Everyone does it. Once more the question remains: Will CEOs and CFOs, as well as traders, be prosecuted? Or will they depart with their multimillion dollar rewards intact, leaving shareholders to pay the tab for the hundreds of millions in fines? The Barclays settlement exposed that traders colluded to try to fix the Libor rate. This is the rate used as the basis for exotic derivatives as well as mortgages, credit card and personal loan rates. Almost everyone is affected. Fixing the rate even a few hundredths of a percentage point could make Barclays millions on any single day — money taken out of the pockets of consumers and investors. Once more the banks were rigging the rules; once more their customers were their mark. The collusion was systematic and routine. Investigations are underway not only in the United Kingdom but also in the United States, Canada and the European Union. Those named in the probes are all the usual suspects: JPMorgan Chase, Citibank, UBS, Deutsche Bank, HSBC, UBS and others. This wasn’t rogue trading, ... it was more like a cartel. The Economist writes that what has been revealed here is “the rotten heart of finance,” a “culture of casual dishonesty.”

Note: For key investigative reports on the criminality and corruption in the financial industry and biggest banks, click here.


Is The ADA Intentionally Using State Legislatures To Block Alternative Nutrition Providers?
2012-07-10, Forbes
http://www.forbes.com/sites/michaelellsberg/2012/07/10/american_dietetic_asso...

In January of this year, health and nutrition blogger Steve Cooksey received a disturbing letter from the North Carolina Board of Dietetics/Nutrition. The letter contained a 19-page markup of Cooksey’s own blog, highlighting in handwritten red pen an extensive series of changes the Board demanded that Cooksey make. He had to make these changes, the Board censors told him, or he would face arrest. Specifically, the Board censors said, he had to remove or change all writing they construed as constituting “nutrition advising” or “nutrition counseling” without a license. Forbes was granted exclusive first-look at a new series of internal documents, freshly leaked by outraged members within the Academy of Nutrition and Dietetics [formerly the American Dietetic Association, or ADA], the professional association behind the NC State Board of Dietetics/Nutrition which censored Cooksey. In these newly-available internal documents, [the ADA]: Openly discusses creating and using state boards of dietetics/nutrition ... for the express purpose of limiting market competition for its Registered Dietitian members; [and] openly discusses a nation-wide plan of surveilling and reporting private citizens, and particularly all competitors on the market for nutrition counseling, for “harming the public” by providing nutrition information/advice/counseling without a license.

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


International Criminal Court sentences Congolese warlord to 14 years for using child soldiers
2012-07-10, Washington Post/Associated Press
http://www.washingtonpost.com/world/africa/international-criminal-court-sente...

The International Criminal Court condemned a Congolese warlord to 14 years in prison on [July 10], the first time the 10-year-old tribunal has sentenced a convicted war criminal and a potential landmark in the struggle to protect children caught up in violent conflicts. Judges found Thomas Lubanga guilty in March of recruiting and using children in his Union of Congolese Patriots militia — sending them to kill and be killed during fighting in Congo’s eastern Ituri region in 2002-2003. Human rights activists hailed the decision. “This sentence sends out a stark warning across the world to those engaged in the use of child soldiers that their criminal actions will land them in prison,” said Armel Luhiriri of the Coalition for the ICC, a non-government group that supports the court and its efforts to end impunity for the world’s worst crimes. Prosecutors are considering whether to appeal the sentence as too low. Franck Mulenda, a legal representative for 140 victims in the case, welcomed the sentence. “It is very important. It consoles the victims,” he said outside court. The court should now order reparations for former child soldiers, “so they can get back their education and their place in society,” Mulenda said. Rights activists say Lubanga’s militia and other warring parties in Ituri engaged in widespread rape.

Note: For reports from reliable major media sources on war crimes, click here.


Has ‘Organic’ Been Oversized?
2012-07-08, New York Times
http://www.nytimes.com/2012/07/08/business/organic-food-purists-worry-about-b...

Organic food has become a wildly lucrative business for Big Food and a premium-price-means-premium-profit section of the grocery store. The industry’s image — contented cows grazing on the green hills of family-owned farms — is mostly pure fantasy. Or rather, pure marketing. Big Food, it turns out, has spawned what might be called Big Organic. Bear Naked, Wholesome & Hearty, Kashi: All three and more actually belong to the cereals giant Kellogg. Naked Juice? That would be PepsiCo, of Pepsi and Fritos fame. And behind the pastoral-sounding Walnut Acres, Healthy Valley and Spectrum Organics is none other than Hain Celestial, once affiliated with Heinz, the grand old name in ketchup. Over the past decade, since federal organic standards have come to the fore, giant agri-food corporations like these and others — Coca-Cola, Cargill, ConAgra, General Mills, Kraft and M&M Mars among them — have gobbled up most of the nation’s organic food industry. Pure, locally produced ingredients from small family farms? Not so much anymore. Many consumers may not realize the extent to which giant corporations have come to dominate organic food. Then again, giant corporations don’t exactly trumpet their role in the industry. Their financial motivation, however, is obvious. Between the time the Agriculture Department came up with its proposed regulations for the organic industry in 1997 and the time those rules became law in 2002, myriad small, independent organic companies — from Honest Tea to Cascadian Farm — were snapped up by corporate titans. Heinz and Hain together bought 19 organic brands.


The rotten heart of finance
2012-07-07, The Economist Magazine
http://www.economist.com/node/21558281

The rapidly spreading scandal of LIBOR (the London inter-bank offered rate) ... is beginning to assume global significance. The number that the traders were toying with determines the prices that people and corporations around the world pay for loans or receive for their savings. It is used as a benchmark to set payments on about $800 trillion-worth of financial instruments, ranging from complex interest-rate derivatives to simple mortgages. The number determines the global flow of billions of dollars each year. Yet it turns out to have been flawed. Over the past week damning evidence has emerged, in documents detailing a settlement between Barclays and regulators in America and Britain, that employees at the bank and at several other unnamed banks tried to rig the number time and again over a period of at least five years. And worse is likely to emerge. Investigations by regulators in several countries, including Canada, America, Japan, the EU, Switzerland and Britain, are looking into allegations that LIBOR and similar rates were rigged by large numbers of banks. As many as 20 big banks have been named in various investigations or lawsuits alleging that LIBOR was rigged. The scandal also corrodes further what little remains of public trust in banks and those who run them.

Note: For key investigative reports on the criminality and corruption in the financial industry and biggest banks, click here.


Natural, organic items grab bigger share in supermarkets
2012-07-07, USA Today
http://www.usatoday.com/money/industries/food/story/2012-07-07/natural-organi...

In recent years, the grocery industry has seen sales of natural and organic food double in supermarkets such as Kroger ..., one of the largest mainstream grocers in the nation. "Used to be this was all very faddish," said Gregg Proctor, who heads up natural foods for Kroger's central division, which includes Indiana. "Not anymore. We're adding new items constantly because if we don't get it when it comes out, our competition will." There seems to be a race to pure foods among the nation's largest supermarkets as they ramp up their offerings, even launch their own brands of organics and naturals, and then heavily advertise the healthy choice. It all makes sense, considering sales of this segment of groceries are outpacing traditional grocery sales. Nationwide, natural and organic food sales grew 8 percent in 2010 versus the less than 1 percent growth in the $630 billion total U.S. food market, according to the Nutrition Business Journal. It grew at about a 5 percent rate each year from 2005 to 2009. With that growth and popularity comes a definite consumer advantage: Slowly but surely, the price of natural foods is falling. Inside more than 1,300 of Kroger's 2,500 stores are Nature's Markets, a store within the store that is devoted solely to natural foods. Natural foods are not regulated, which leaves the meaning of that term largely up to the grocers that sell them.


New Jersey ACLU app gives new meaning to 'police tape'
2012-07-06, Los Angeles Times
http://articles.latimes.com/2012/jul/06/business/la-fi-tn-aclu-nj-record-poli...

If you've ever been in a did-that-really-just-happen scenario, you might have wished you had a recorder running -- particularly when it comes to run-ins with the law. The American Civil Liberties Union of New Jersey just released an app that allows Android phone users to record and store their interactions with police to "hold police accountable." The app, cleverly called "Police Tape," also includes legal information about citizens' rights during encounters with law enforcement. What sets this apart from being just a video camera with a send button is that you can also record in "stealth mode." The app disappears from the screen once the recording starts, "to prevent any attempt by police to squelch the recording," according to the ACLU of New Jersey site. Users can send the recording to the organization through the app for backup storage and analysis. Though there is no federal law preventing recording police in public, some states have different statutes covering such activity. Earlier, the New York American Civil Liberties Union released its Stop and Frisk Watch application. The New York ACLU promotes that app as a way for bystanders and designated event observers to record incidents. That's probably a better idea than whipping out your phone when a cop asks for your license, particularly if you are in an emotionally charged or intense setting. That's probably not going to be received well.

Note: Other states now have this app, which you can read about at this link and this one.


Guilty bankers should clean toilets
2012-07-05, CNN
http://www.cnn.com/2012/07/05/opinion/quest-libor-analysis/index.html

The Libor scandal has confirmed what many of us have known for some time: There is something smelly in the London financial world and the stench is now overwhelming. The Financial Services Authority report [made it] clear just how widespread, how blatant was the fixing of the benchmark interest rate Libor and Euribor by Barclays. Brazen is the only word for it. The emails and phone calls reveal that on dozens of occasions those who stood to gain by the decisions asked for favors (and got them) from those who helped set the interest rates. And all the time the world believed Libor was somehow a barometer of what banks were lending to each other. It wasn't. It was the rate at which a bank was prepared to corrupt the money markets for its own narrow, venal gain. It is the way the traders, the rate submitters -- everyone involved in this cesspit -- [were] running to do wrong which makes it so egregious. With one or two feeble exceptions, no one ever seemed to stop and say "this is against the rules." Or, heaven forbid, "this is wrong." I have no doubt that Barclays wasn't the only one up to this. The FSA report makes it clear that other traders were putting pressure on their rate setters too. Libor and its cousin Euribor are the rates used to determine hundreds of trillions of dollars worth of highly specialized financial contracts called derivatives. Businesses and household loans are set by this benchmark. It is the backbone of the financial world and now it has been proven to be bent and crooked.

Note: For an incredibly incisive interview between Eliot Spitzer, Matt Taibbi, and a top banking expert on how the LIBOR scandal undermines the integrity of all banking, click here. For astounding news on the $700 trillion derivatives bubble, click here. For a treasure trove of reliable reports on the criminality and corruption within the financial and banking industries, click here.


Inquiry Declares Fukushima Crisis a Man-Made Disaster
2012-07-05, CNBC/New York Times
http://www.cnbc.com/id/48089813

The nuclear accident at Fukushima was a preventable disaster rooted in government-industry collusion and the worst conformist conventions of Japanese culture, a parliamentary inquiry [has] concluded. The report, released by the Fukushima Nuclear Accident Independent Investigation Commission, challenged some of the main story lines that the government and the operator of the Fukushima Daiichi Nuclear Power Plant have put forward. Most notably, the report said the plant’s crucial cooling systems might have been damaged in the earthquake on March 11, 2011, not only in the ensuing tsunami. That possibility raises doubts about the safety of all the quake-prone country’s nuclear plants just as they begin to restart after a pause ordered in the wake of the Fukushima crisis. “It was a profoundly man-made disaster — that could and should have been foreseen and prevented,” said Kiyoshi Kurokawa, the commission’s chairman, in the report’s introduction. “And its effects could have been mitigated by a more effective human response.” The 641-page report criticized Tepco as being too quick to dismiss earthquake damage as a cause of the fuel meltdowns at three of the plant’s six reactors, which overheated when the site lost power. Tepco has contended that the plant withstood the earthquake that rocked eastern Japan, instead placing blame for the disaster on what some experts have called a “once in a millennium” tsunami that followed.

Note: For lots more from reliable major media articles on corruption in the nuclear power industry, click here.


Lawmakers got loan deals from Countrywide
2012-07-05, MSNBC/Associated Press
http://www.msnbc.msn.com/id/48081344/ns/business-stocks_and_economy#.T_h445H4KNU

The former Countrywide Financial Corp., whose subprime loans helped start the nation's foreclosure crisis, made hundreds of discount loans to buy influence with members of Congress, congressional staff, top government officials and executives of troubled mortgage giant Fannie Mae, according to a House report. The report ... said the discounts — from January 1996 to June 2008 — were not only aimed at gaining influence for the company but to help mortgage giant Fannie Mae. Countrywide's business depended largely on Fannie, which ... was responsible for purchasing a large volume of Countrywide's subprime mortgages. "Documents and testimony obtained by the committee show the VIP loan program was a tool used by Countrywide to build goodwill with lawmakers and other individuals positioned to benefit the company," the report said. "In the years that led up to the 2007 housing market decline, Countrywide VIPs were positioned to affect dozens of pieces of legislation that would have reformed Fannie" and its rival Freddie Mac, the committee said. The Justice Department has not prosecuted any Countrywide official, but the House committee's report said documents and testimony show that Mozilo and company lobbyists "may have skirted the federal bribery statute by keeping conversations about discounts and other forms of preferential treatment internal. Rather than making quid pro quo arrangements with lawmakers and staff, Countrywide used the VIP loan program to cast a wide net of influence."

Note: For a treasure trove of reliable reports on the criminality and corruption within the financial and banking industries, click here.


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