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.
India has put in place a $5.4 billion policy to provide free medicine to its people, a decision that could change the lives of hundreds of millions, but a ban on branded drugs stands to cut Big Pharma out of the windfall. From city hospitals to tiny rural clinics, India's public doctors will soon be able to prescribe free generic drugs to all comers, vastly expanding access to medicine in a country where public spending on health was just $4.50 per person last year. Under the plan, doctors will be limited to a generics-only drug list and face punishment for prescribing branded medicines, a major disadvantage for pharmaceutical giants in one of the world's fastest-growing drug markets. The initiative would overhaul a system where healthcare is often a luxury and private clinics account for four times as much spending as state hospitals, despite 40 percent of the people living below the poverty line, or $1.25 a day or less. Within five years, up to half of India's 1.2 billion people are likely to take advantage of the scheme, the government says. "The policy of the government is to promote greater and rational use of generic medicines that are of standard quality," said L.C. Goyal, additional secretary at India's Ministry of Health and Family Welfare and a key proponent of the policy. "They are much, much cheaper than the branded ones."
Dr. David Healy is an internationally renowned psychiatrist, psychopharmacologist, scientist, and author. He was responsible for submitting the key document that led to New York State's successful fraud action against GlaxoSmithKline. [Q.] Youve written at your blog that evidence-based medicine and RCTs [random controlled trials] are ... simply not the answer to determining cause and effect, [because] theyre quite likely to hide rather than reveal a problem like antidepressant induced suicidality. How in fact do RCTs hide such information? [Dr. Healy:] There are ... specific problems like miscoding, where suicidality becomes nausea or emotional lability or even treatment non-responsiveness. There is also the problem of mislocation – patients on placebo end up being given problems they never had – and of nonexistent patients, who dont of course have adverse events. Beyond that, there are more sophisticated tricks that companies can and do play – such as claiming that increased rates of a problem on a drug are not really evidence of an increase in rates if the data are not statistically significant. In this way, companies have hidden many more heart attacks on Vioxx and Avandia or suicidal acts on SSRIs than have been hidden by miscoding or mislocation. When it comes to adverse events, trials almost never get the right answer. The deeper problem ... is the combination of product patents, prescription-only status, and the use of clinical trials as a means of determining efficacy – in particular, when the data from those trials are not made available. This creates a perfect product ... which industry can manipulate to mean whatever they want them to mean.
Note: Dr. Healy is the author of more than 150 peer-reviewed articles and 20 books. For an excellent article going further into Dr. Healy's amazing work, click here. For deeply revealing reports from reliable major media sources on health corruption and manipulations, click here.
The pharmaceutical group GlaxoSmithKline has been fined $3bn (1.9bn) after admitting bribing doctors and encouraging the prescription of unsuitable antidepressants to children. The company encouraged sales reps in the US to mis-sell three drugs to doctors and lavished hospitality and kickbacks on those who agreed to write extra prescriptions. The company admitted corporate misconduct over the antidepressants Paxil and Wellbutrin and asthma drug Advair. GSK also paid for articles on its drugs to appear in medical journals and "independent" doctors were hired by the company to promote the treatments. Paxil which was only approved for adults was promoted as suitable for children and teenagers by the company despite trials that showed it was ineffective. Children and teenagers are only treated with antidepressants in exceptional circumstances due to an increased risk of suicide. The second drug to be mis-sold was Wellbutrin another antidepressant aimed only at adults. The prosecution said the company paid $275,000 to Dr Drew Pinsky, who hosted a popular radio show, to promote the drug on his programme, in particular for unapproved uses. US attorney Carmin Ortiz said: "The sales force bribed physicians to prescribe GSK products using every imaginable form of high-priced entertainment, from Hawaiian vacations [and] paying doctors millions of dollars to go on speaking tours, to tickets to Madonna concerts." Despite the large fine, $3bn is far less than the profits made from the drugs.
Note: In February 2016, GlaxoSmithKline was fined another $53 million by the UK for preventing generic competition. The list of huge fines to top drug companies includes five fines of over $1 billion and dozens over $100 million. How can we trust these companies on the safety and reliability of their products?
For years, the ratings agencies have contended that the grades they assign debt securities are independent opinions and therefore entitled to First Amendment protections, like those afforded journalists. But newly released documents in a class-action case ... cast doubt on the independence of the two largest agencies, Moody’s Investors Service and Standard & Poor’s. The case, filed in 2008 by a group of 15 institutional investors against Morgan Stanley and the two agencies, involves a British-based debt issuer called Cheyne Finance. Cheyne collapsed in August 2007 under a load of troubled mortgage securities. Even though Cheyne’s portfolio was bulging with residential mortgage securities, some of its debt received the agencies’ highest ratings, a grade equal to that assigned to United States Treasury securities. When the primary analyst at S.& P. notified Morgan Stanley that some of the Cheyne securities would most likely receive a BBB rating, not the A grade that the firm had wanted, the agency received a blistering e-mail from a Morgan Stanley executive. S.& P. subsequently raised the grade to A. After the institutions that bought Cheyne’s debt sued Morgan Stanley and the ratings agencies, Moody’s and S.& P. immediately mounted a First Amendment defense. But Shira A. Scheindlin, the federal judge overseeing the matter ... argued that the ratings were not opinions but were misrepresentations that were possibly a result of fraud or negligence.
Note: For deeply revealing reports from reliable major media sources on financial corruption, click here.
Nearly 70 percent of voters think super PACs should be outlawed, and more than half “strongly” do. We can hardly believe that the billionaire brothers David and Charles Koch will spend more this year than John McCain’s entire presidential campaign raised in 2008. We can’t stand the constant flood of negative ads on every channel or the ominous anonymity of the interests behind them. The Roberts Court sees all this and refuses to acknowledge that it “give[s] rise to corruption or the appearance of corruption.” Fortunately, if on the question of campaign finance the Supreme Court is immune to the court of public opinion, progressives are fighting through other avenues to transform today’s corrupt system into one that is fair, transparent and participatory. In [the] state of New York, Attorney General Eric Schneiderman has launched a path-breaking investigation of tax-exempt groups that might be fraudulently funneling funds into politics, including a “charitable foundation” affiliated with the U.S. Chamber of Commerce. Meanwhile, New York Gov. Andrew Cuomo is partnering with Protect Our Democracy ... to apply the same successful, grass-roots pressure they used in getting same-sex marriage passed to our campaign finance system. They have joined with citizen activists who are looking to New York City’s successful, multiple-match public financing system. A Brennan Center for Justice study showed that this system promoted diversity among candidates and donors and reduced the influence of corporate money.
Note: For key reports from major media sources on problems with US elections, click here.
The Deputy Governor of the Bank of England encouraged Barclays to try to lower interest rates after coming under pressure from senior members of the last Labour government, documents have disclosed. A memo published by Barclays suggested that Paul Tucker gave a hint to Bob Diamond, the bank’s chief executive, in 2008 that the rate it was claiming to be paying to borrow money from other banks could be lowered. His suggestion followed questions from “senior figures within Whitehall” about why Barclays was having to pay so much interest on its borrowings, the memo states. Barclays and other banks have been accused of artificially manipulating the Libor rate, which is used to set the borrowing costs for millions of consumers, businesses and investors, by falsely stating how much they were paying to borrow money. The bank claimed yesterday that one of its most senior executives cut the Libor rate only at the height of the credit crisis after intervention from the Bank of England. The memo, written on Oct 29, 2008, by Mr Diamond and circulated to two other senior bank officials, said: “Mr Tucker reiterated that he had received calls from a number of senior figures within Whitehall to question why Barclays was always toward the top end of the Libor pricing.” Government sources suggested that Baroness Vadera, one of Gordon Brown’s closest colleagues, was responsible for the contact with the Bank of England.
Note: For deeply revealing and reliable major media reports on corruption and criminality in the operations and regulation of the financial sector, click here.
The Barclays Libor scandal may have shocked the British public, but Joseph Stiglitz saw it coming decades ago. And he's convinced that jailing bankers is the best way to curb market abuses. [Former World Bank Chief Economist] Stiglitz wrote a series of papers in the 1970s and 1980s explaining how when some individuals have access to privileged knowledge that others don't, free markets yield bad outcomes for wider society. That insight (known as the theory of "asymmetric information") won Stiglitz the Nobel Prize for economics in 2001. And he has leveraged those credentials relentlessly ever since to batter at the walls of "free market fundamentalism". It is a crusade that [includes] his new book The Price of Inequality. When traders working for Barclays rigged the Libor interest rate and flogged toxic financial derivatives – using their privileged position in the financial system to make profits at the expense of their customers – they were unwittingly proving Stiglitz right. "It's a textbook illustration," Stiglitz said. "Where there are these asymmetries a lot of these activities are directed at rent seeking [appropriating resources from someone else rather than creating new wealth]. That was one of my original points. It wasn't about productivity, it was taking advantage." He argues that breaking the economic and political power that has been amassed by the financial sector in recent decades, especially in the US and the UK, is essential if we are to build a more just and prosperous society. The first step, he says, is sending some bankers to jail.
Note: For key investigative reports on the criminality and corruption in the financial industry and biggest banks, click here.
For the past 10 years an unlikely coalition of geologists, oil drillers, bankers, military strategists and environmentalists has been warning that peak oil – the decline of global supplies – is just around the corner. We had some strong reasons for doing so: production had slowed, the price had risen sharply, depletion was widespread and appeared to be escalating. The first of the great resource crunches seemed about to strike. Some of us made vague predictions, others were more specific. In all cases we were wrong. Peak oil hasn't happened, and it's unlikely to happen for a very long time. ["Oil - The Next Revolution"] by the oil executive Leonardo Maugeri, published by Harvard University, provides compelling evidence that a new oil boom has begun. The constraints on oil supply over the past 10 years appear to have had more to do with money than geology. The low prices before 2003 had discouraged investors from developing difficult fields. The high prices of the past few years have changed that. Maugeri's analysis of projects in 23 countries suggests that global oil supplies are likely to rise by a net 17m barrels per day (to 110m) by 2020. This, he says, is "the largest potential addition to the world's oil supply capacity since the 1980s". The investments required to make this boom happen depend on a long-term price of $70 a barrel – the current cost of Brent crude is $95. Money is now flooding into new oil: a trillion dollars has been spent in the past two years; a record $600bn is lined up for 2012.
Some might call Neil Grimmer and his wife Tana Johnson picky eaters. For more than a decade, Grimmer, a triathlete, didn't eat meat or dairy while Johnson followed a macrobiotic diet, made up mostly of whole grains and vegetables. So when the couple became parents about nine years ago, they sought to feed their children healthy foods. Trouble was, they couldn't find snacks that were healthy, yet easy to pack and appealing to their kids. That's how the Nest Collective, now known as Plum Organics, was born. [The] startup makes baby food and toddler and kids' snacks such as pouches of pureed blueberry oats and quinoa for babies and squeezable oatmeal for older children. Plum Organics is also addressing increasing concerns about childhood obesity and parents looking for alternative, easy-to-pack snacks. In what turned out to be a momentous decision, the company moved away from the traditional plastic or glass jar and began offering baby food in the form of the squeezable pouch already popular with older children. The company took off from there. The benefit of the pouch is that it allows the food to be cooked more gently so that the flavors are richer, said Grimmer. The packaging also takes up less space in landfills and is easier to transport.
The head of Germany's domestic intelligence service resigned on [July 2] after admitting that his agency had shredded files on a neo-Nazi cell whose killing spree targeting immigrants rocked the country late last year. Heinz Fromm's resignation is the latest in a series of embarrassing setbacks for Germany's security services over their handling of the "National Socialist Underground" (NSU), which went undetected for more than a decade despite its murder of 10 people, mostly ethnic Turkish immigrants. German lawmakers said there was no suggestion that Fromm had ordered the destruction of the files but that he was taking responsibility for others' failures. German media have said an official working in the intelligence agency is suspected of having destroyed files on an operation to recruit far-right informants just one day after the involvement of the NSU in the murders became public. Fromm told the Spiegel weekly that the shredding of files in the case had done "grave damage to the reputation" of his agency, known in Germany as the Federal Office for the Protection of the Constitution. Germans, burdened by their Nazi past, were mortified by last year's news that three neo-Nazis had been behind the killings of eight ethnic Turks, an ethnic Greek and a police officer in a period running from 2000 to 2007. The NSU cell's culpability only came to light after two of the neo-Nazis committed suicide following a botched bank robbery last autumn.
Note: For insightful reports from reliable major media articles on the dark operations of intelligence agencies, click here.
An anonymous insider from one of Britain's biggest lenders ... explains how he and his colleagues helped manipulate the UK's bank borrowing rate. Neither the insider nor the bank can be identified for legal reasons. It was during a weekly economic briefing at the bank in early 2008 that I first heard the phrase. A sterling swaps trader told the assembled economists and managers that "Libor was dislocated with itself". What the trader told us was that the bank could not be seen to be borrowing at high rates, so we were putting in low Libor submissions, the same as everyone. How could we do that? Easy. The British Bankers' Association, which compiled Libor, asked for a rate submission but there were no checks. The trader said there was a general acceptance that you lowered the price a few basis points each day. According to the trader, "everyone knew" and "everyone was doing it". There was no implication of illegality. After all, there were 20 to 30 people in the room – from management to economists, structuring teams to salespeople – and more on the teleconference dial-in from across the country. The discussion was so open the behaviour seemed above board. In no sense was this a clandestine gathering. Libor had dislocated with itself for a very good reason – to hide the true issues within the bank.
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 a treasure trove of reliable reports on the criminality and corruption within the financial and banking industries, click here.
Wall Street has already watered down or delayed most of Dodd-Frank [financial reform act]. Now it wants to create a giant loophole, exempting its foreign branches from the law. Yet the overseas branches of Wall Street banks are where the banks have done some of their wilder betting. Four years ago, bad bets by American International Group's London office nearly unraveled the U.S. financial system. When the Commodity Futures Trading Commission, the main regulator of derivatives (bets on bets), recently proposed extending Dodd-Frank to the foreign branches of Wall Street banks, the banks screamed. "If JPMorgan overseas operates under different rules than our foreign competitors," warned Jamie Dimon, chairman and CEO of JPMorgan, Wall Street will lose financial business to the banks of nations with fewer regulations, allowing "Deutsche Bank to make the better deal." This is the same Jamie Dimon who chose London as the place to make highly risky derivatives trades that have lost the firm upward of $2 billion so far - and could leave American taxpayers holding the bag if JPMorgan's exposure to tottering European banks gets much worse. JPMorgan's risky betting in London is added proof that unless the overseas operations of Wall Street banks are covered by U.S. regulations, giant banks will hide irresponsible bets overseas. Squadrons of Wall Street lawyers and lobbyists have been pressing all the agencies charged with implementing Dodd-Frank to go easy on the Street.
Note: The author of this article, Robert Reich, is former U.S. secretary of labor, professor of public policy at UC Berkeley and the author of Aftershock: The Next Economy and America's Future. He blogs at www.robertreich.org.
A scandal over the rigging of key interest rates could plunge the global banking industry into a legal morass for years, analysts said. The head of the Bank of England said there needed to be "real change" in the industry's culture. Referring to what he called the "deceitful manipulation" of rates, Mervyn King told a news conference [that] the London Interbank Offer Rate (LIBOR) should be reformed to reflect actual market transactions. U.S. and British authorities fined Barclays $453 million on Wednesday for manipulating LIBOR, which underpins some $360 trillion of loans and financial contracts around the world - and analysts forecast more banks would soon be named for collusion. Others predicted Barclays and other banks could face billions in costs from litigation, especially in the United States, in much the same way that oil major BP ran into drawn-out legal rows over its oil spill. Barclays was the first bank to settle in an investigation which is looking at other large financial institutions in Europe, Japan and North America.
Note: This article states that LIBOR underpins some $360 trillion of loans and financial contracts around the world. That's $50,000 for every man, woman, and child on this planet. And it is being hugely manipulated. For more vitally important information on this, learn about the huge amounts of derivatives being manipulated at this link and explore the excellent, reliable information in our Banking Corruption Information Center available here.
Malaysia is brave to organise a war crimes tribunal and to recognise former United States president George W. Bush and his associates as war criminals. In a public forum entitled "9/11 and the Ecological Crisis", renowned theologian, scholar and author Professor David Ray Griffin praised Malaysia for having the courage to bring these prominent figures to justice and to expose their crimes to the international community. "Someone has to get started somewhere, and this is a good start, Malaysia is ideally placed in this aspect and hopefully the international community will take notice," he said. In his lecture, Griffin also explained his theory on the Sept 11 attacks, claiming that it was a "staged event" and could not have been the work of Muslim terrorists. He explained that the rigid steel columns of the (World Trade Center) twin towers made it impossible for them to crumble unless they had been rigged with explosives. Griffin added that the fires could not have come within 1,000 degrees Fahrenheit of the temperature needed to melt steel. He also alleged that the hijackers had minimal competence to fly single-engine aircraft, let alone be able to handle commercial jets. Griffin noted that more than any others, Muslims have paid the greatest price as a result of 9/11 that later launched the war on terrorism. "We have started something called Consensus 9/11 where we have gathered several experts to provide the world with a clear statement, based on expert independent opinion, of some of the best evidence opposing the official narrative about 9/11."
Note: The New Straits Times is Malaysia's oldest newspaper, founded in 1845. This article is a rare example of objective mainstream press coverage of alternative interpretations of the 9/11 events. WantToKnow team member Prof. David Ray Griffin's most recent book on 9/11 is 9/11 Ten Years Later.
More than 80 million Americans believe that UFOs exist and many of them are not afraid of an alien drop-in, according to a new study. As part of its new "Chasing UFOs" series, the National Geographic Channel conducted a poll to assess Americans' views on the paranormal. The study found that 11 percent of those polled believed they had seen a UFO. In addition, most of those polled said they would regard a minor alien invasion as only a minor inconvenience. And most expect the visitors to be "E.T."-type friendly. And despite the recent uproar over the Miami face-chewing incident, 71 percent in this survey were more likely to believe in aliens than in zombies, or vampires, or superheroes. The study threw in a few fun questions. Among them: Which superhero would Americans be more likely call on to battle aliens (the evil kind, not E.T.)? That would be the Hulk (21 percent). Spider-Man got only 8 percent of the vote. President Obama had the questionable honor of being perceived as better able to handle an alien invasion than GOP presidential candidate Mitt Romney; this was a notion held more strongly among women than men and among younger folks than older. The "Aliens Among Us" survey was conducted with a random nationwide sample of 1,114 Americans from May 21 to 29.
Note: For lots more on UFOs check out our UFO Information Center.
The World Bank is a place where whistle-blowers are shunned, persecuted and booted–not always in that order. Consider John Kim, a top staffer in the bank’s IT department, who in 2007 leaked damaging documents ... after he determined that there were no internal institutional avenues to honestly deal with wrongdoing. “Sometimes you have to betray your country in order to save it,” Kim says. In return bank investigators probed his phone records and e-mails, and allegedly hacked into his personal AOL account. After determining he was behind the leaks the bank put him on administrative leave for two years before firing him on Christmas Eve 2010. With nowhere to turn Kim was guided into the offices of the Washington, D.C.-based Government Accountability Project–the only game in town for public-sector leakers. [They] helped Kim file an internal case for wrongful termination (World Bank staffers have no recourse to U.S. courts) and in a landmark ruling a five-judge tribunal eventually ordered the bank to reinstate him last May. Despite the decision, the bank retired him in September after 29 years of service.
Note: For the video of another major World Bank whistleblower, Karen Hudes, click here. For deeply revealing reports from reliable major media sources on financial corruption, click here.
Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations. The plans, known as living wills, are due to regulators no later than July 1 under provisions of the Dodd-Frank financial reform law designed to end too-big-to-fail bailouts by the government. The living wills could be as long as 4,000 pages. Since the law allows regulators to go so far as to order a bank to divest subsidiaries if it cannot plan an orderly resolution in bankruptcy, the deadline is pushing even healthy institutions to start a multi-year process to untangle their complex global operations, according to industry consultants. JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley are among those submitting the first liquidation scenarios to regulators at the Federal Reserve and the Federal Deposit Insurance Corp. The liquidation plans are coming amid renewed questions about the safety of big banks following JPMorgan's stunning announcement last month that a trading debacle has cost it more than $2 billion.
Note: For other key major media articles showing blatant financial corruption, click here. For more vitally important information on banking manipulations, explore the excellent, reliable information in our Banking Corruption Information Center available here.
A California congressman at the center of a legal battle with the White House ... asked U.S. trade officials to let him sit in on negotiations in San Diego next week between the United States and other countries in the Asia-Pacific region. "Given the immense impact that this agreement will have on many areas of the American economy, including intellectual property, I respectfully request that you allow me and certain members of my staff to be present as observers for this round of negotiations," Republican lawmaker Darrell Issa said in a letter to U.S. Trade Representative Ron Kirk. The unusual request to join the San Diego talks on the proposed Trans-Pacific Partnership (TPP) pact, and a separate letter on Wednesday from about 130 congressional Democrats, reflect the anxiety many lawmakers are feeling about trade agreements, even though Congress last year overwhelmingly approved three such pacts -- with South Korea, Colombia and Panama. The roughly 130 Democratic lawmakers, in their letter, urged U.S. Trade Representative Ron Kirk to release draft texts under negotiation and "to engage in broader and deeper consultations" with members of Congress on U.S. laws and regulations they said he could be affected by the pact. Those include areas such as labor, patent and copyright, land use, food, agriculture, natural resources, the environment, state-owned enterprises, government procurement and regulations for financial services, healthcare, energy and telecommunications, the lawmakers said.
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.
President Barack Obama's campaign has recruited a legion of lawyers to be on standby for this year's election as legal disputes surrounding the voting process escalate. Thousands of attorneys and support staffers have agreed to aid in the effort, providing a mass of legal support that appears to be unrivaled by Republicans or precedent. Obama's campaign says it is particularly concerned about the implementation of new voter ID laws across the country, the possibility of anti-fraud activists challenging legitimate voters and the handling of voter registrations in the most competitive states. Republicans are building their own legal teams for the election. They say they're focused on preventing fraud -- making sure people don't vote unless they're eligible -- rather than turning away qualified voters. Since the disputed 2000 presidential election, both parties have increasingly concentrated on building legal teams -- including high-priced lawyers who are well-known in political circles -- for the Election Day run-up. The Bush-Gore election demonstrated to both sides the importance of every vote and the fact that the rules for voting and counting might actually determine the outcome. The Florida count in 2000 was decided by just 537 votes and ultimately landed in the Supreme Court.
Note: For key reports from major media sources on serious dysfunctions in the US elections process, click here.
For nearly 20 years, [documentarian James] Fox traveled across the world in pursuit of the truth regarding UFOs. He directed and produced three films on the subject and in 2007 orchestrated an event, with help from journalist Leslie Kean (Coalition for Freedom of Information), which to this day is hailed as the most credible civilian effort of disclosure on UFOs in history. Fox assembled 14 speakers, including two retired generals and several other military officers, a former governor, civilian pilots and government scientists from seven countries (Belgium, Chile, France, Iran, Peru, U.K. and the U.S.) at the National Press Club in Washington, D.C., to give firsthand testimonies on their encounters/investigations with UFOs. He is convinced not only that UFOs are real, but that governments have concealed information on this subject from the public for more than 60 years. For the first time ever, Fox takes his personal experiences, contacts and expertise on the road with National Geographic Channel’s new series, Chasing UFOs. His nonthreatening conversational style of interviewing, open mind and unbiased reputation have given him unfettered access to witnesses, government documents and cases from around the world. If Fox doesn’t know a case, he’s friends with someone who does. James Fox firmly believes the truth is out there, and it’s a personal journey for him to share the facts with the world.
Note: For what may be James Fox's best documentary on UFOs, watch the incredibly well-produced Out of the Blue, available at this link. For reliable information on UFOs check out our UFO Information Center.
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.