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Revealing News For a Better World

News Articles
Excerpts of Key News Articles in Major Media


Below are key excerpts of little-known, yet highly revealing news articles from the media. Links are provided to the full news articles for verification. If any link fails to function, read this webpage. These articles are listed by order of importance. You can also explore these articles listed by order of the date of the news article or by the date posted. By choosing to educate ourselves, we can build a brighter future.

Note: Explore our full index to revealing excerpts of key major media news articles on dozens of engaging topics. And read excerpts from 20 of the most revealing news articles ever published.


Honest taxi driver reaps rewards
2009-05-07, BBC News
http://news.bbc.co.uk/2/hi/americas/8039240.stm

Hundreds of Argentines have been donating to a taxi driver who found a bag with $32,500 (Ł21,600) in cash in his taxi and returned it to its owners. The donations started after a website was set up in his honour calling for gestures of gratitude for what is seen as an extraordinary act of honesty. So far the equivalent of $14,580 has been donated, according to the site. Santiago Gori, a taxi driver in the coastal city of La Plata, found the money after driving an elderly couple. They only went a short distance but when he dropped them off, they left a bag in the back of his taxi. A few days later he managed to locate his passengers again and he returned the bag. For Argentines used to corruption at all levels of society, this was an extraordinary story. Two young advertising agency employees decided to set up a website to thank Mr Gori further for his exemplary behaviour. Now thousands of people have accessed the site and have left hundreds of rewards and messages for Mr Gori. One visitor offered to produce in his studio a song chosen by Mr Gori to kick-start a potential artistic career. Another offered a snow-boarding lesson in Argentina's ski resort of Bariloche, while an Argentine abroad promised to bring back a second-hand GPS satellite receiver for his taxi on his return. "Thank you", say many of the messages and one said it all: "I wish more people were like you." For his part, Mr Gori seems a bit bemused. He said he only did what had to be done - and that he does not quite know what to do with all the things he has been offered.


Paying a Price for Loving Red Meat
2009-04-28, New York Times
http://www.nytimes.com/2009/04/28/health/28brod.html?partner=rss&emc=rss&page...

There was a time when red meat was a luxury for ordinary Americans, or was at least something special: cooking a roast for Sunday dinner, ordering a steak at a restaurant. Not anymore. Meat consumption has more than doubled in the United States in the last 50 years. Now a new study of more than 500,000 Americans has provided the best evidence yet that our affinity for red meat has exacted a hefty price on our health and limited our longevity. The study found that, other things being equal, the men and women who consumed the most red and processed meat were likely to die sooner, especially from one of our two leading killers, heart disease and cancer, than people who consumed much smaller amounts of these foods. The number of excess deaths that could be attributed to high meat consumption is quite large given the size of the American population. Extrapolated to all Americans in the age group studied, the new findings suggest that over the course of a decade, the deaths of one million men and perhaps half a million women could be prevented just by eating less red and processed meats, according to estimates prepared by Dr. Barry Popkin, who wrote an editorial accompanying the report. In place of red meat, nonvegetarians might consider poultry and fish. In the study, the largest consumers of “white” meat from poultry and fish had a slight survival advantage. Likewise, those who ate the most fruits and vegetables also tended to live longer.

Note: For many excellent reports on health issues, click here.


Judge rejects bid to derail wiretap challenge
2009-04-18, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/04/17/MN6O174O7E.DTL

A San Francisco federal judge rejected on Friday the Obama administration's attempt to derail a challenge to former President George W. Bush's electronic surveillance program by withholding a critical wiretap document. President Obama's Justice Department had appeared to defy a previous order by Chief U.S. District Judge Vaughn Walker to allow lawyers for an Islamic organization to see the classified document, which reportedly showed that the group had been wiretapped. The document, which the government accidentally sent to the Al-Haramain Islamic Foundation, could establish its right to sue over the legality of the program. Justice Department lawyers told Walker in February that he had no power to enforce his order, and indicated they would remove the document from his files if he planned to disclose it to Al-Haramain's lawyers. But after a federal appeals court denied the department's request to intervene, Walker told the government Friday to cooperate. "The United States should now comply with the court's orders," the judge said. He told lawyers for the administration and Al-Haramain to work out a protective order by May 8 that would maintain the document's secrecy after it had been shown to the Islamic group's lawyers. If the two sides can't agree, Walker said, he will issue his own protective order "under which this case may resume forward progress." The case is one of two before Walker challenging the constitutionality of the program that Bush secretly authorized in 2001 to intercept phone calls and e-mails between Americans and suspected foreign terrorists without seeking a court warrant, as required by a 1978 law.

Note: For more reports on government secrecy from reliable sources, click here.


A lesson for Detroit - Tata Nano
2009-03-31, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/03/30/EDTK16PF19.DTL

Don't dismiss the Nano as a small, poor man's car that will cause a mere ripple on the world market. The Nano is a radical innovation, with the potential to revolutionize automobile manufacturing and distribution. The tiny Nano incorporates three innovations, which together make it huge. First, the Nano uses a modular design that enables a knowledgeable mechanic to assemble the car in a workshop. Thus, Tata can outsource assembly to independent workshops that can then assemble the car on buyers' orders. This innovation not only removes costly labor from the manufacturer's side but also allows for distributed entrepreneurship on the dealer's side. Second, the low cost of the Nano comes from a combination of its no-frills design and its use of numerous lighter components, from simple door handles and bulbs to the transmission and engine parts. The lighter vehicle enables a more energy-efficient engine that gets 67 miles to the gallon. Third, at just 122 inches long, the Nano is one of the shortest four-passenger cars on the market, yet it allows for ample interior space. These innovations have enabled Tata to introduce the Nano at a base price of $2,000. The low price has triggered worldwide interest in the car and a surge of orders, even in a struggling auto market. The Nano has the potential of flourishing despite the recession or softening its sting because of its extraordinary low price. It's a radical innovation precisely because it is a poor man's car.

Note: For a treasure trove of inspiring developments in new energy and automotive technologies, click here.


Inquiry Asks Why A.I.G. Paid Banks
2009-03-27, New York Times
http://www.nytimes.com/2009/03/27/business/27cuomo.html?partner=rss&emc=rss&p...

Members of Congress and the New York State attorney general demanded detailed information Thursday on how tens of billions of taxpayer dollars flowed through the American International Group during its crisis last fall and ended up in the coffers of several dozen big banks, shielding them from losses. The new inquiries shine a spotlight on a question that is exponentially bigger, in dollars, than the $165 million in bonuses that A.I.G. paid out this month, but which has been overshadowed until now by the uproar over the bonuses. “We would like to know if the A.I.G. counterparty payments, as made, were in the best interests of the taxpayers who provided the funding,” said Representative Elijah E. Cummings, Democrat of Maryland, in a letter to Neil M. Barofsky, the special inspector general for the Troubled Asset Relief Program. The banks and investment firms that ended up with A.I.G.’s bailout money last fall were, in many cases, counterparties to derivatives contracts it had sold, known as credit-default swaps, which guaranteed the value of assets in their investment portfolios. They included Wall Street firms, like Goldman Sachs, JPMorgan Chase and Merrill Lynch, that have successfully resisted efforts to regulate credit derivatives in the past. In several hearings this month, members of Congress said they believed the derivatives had often been used to speculate, not to manage risk. They have expressed outrage that A.I.G.’s trading partners got 100 cents on the dollar for their money-losing trades when ordinary Americans paying for the bailout have suffered big losses in their 401(k) accounts and other investments.

Note: For many revealing reports on the realities behind the Wall Street bailouts, click here.


'Global War On Terror' Is Given New Name
2009-03-25, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/24/AR20090324028...

The Obama administration appears to be backing away from the phrase "global war on terror," a signature rhetorical legacy of its predecessor. In a memo e-mailed this week to Pentagon staff members, the Defense Department's office of security review noted that "this administration prefers to avoid using the term 'Long War' or 'Global War on Terror' [GWOT.] Please use 'Overseas Contingency Operation.' " Senior administration officials had been publicly using the phrase "overseas contingency operations" in a war context for roughly a month before the e-mail was sent. The Bush administration adopted the phrase ["Global War on Terror"] soon after the Sept. 11, 2001. But critics abroad and at home, including some within the U.S. military, said the terminology mischaracterized the nature of the enemy and its abilities. Some military officers said, for example, that classifying al-Qaeda and other anti-American militant groups as part of a single movement overstated their strength. Last month, the International Commission of Jurists urged the Obama administration to drop the phrase "war on terror." The commission said the term had given the Bush administration "spurious justification to a range of human rights and humanitarian law violations," including detention practices and interrogation methods that the International Committee of the Red Cross has described as torture.


Handling Of 'State Secrets' At Issue
2009-03-25, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/24/AR20090324035...

Civil liberties advocates are accusing the Obama administration of ... adopting the same expansive arguments that his predecessor used to cloak some of the most sensitive intelligence-gathering programs of the Bush White House. The first signs have come just weeks into the new administration, in a case filed by an Oregon charity [accused] of funding terrorism. President Obama's Justice Department not only sought to dismiss the lawsuit by arguing that it implicated "state secrets," but also escalated the standoff -- proposing that government lawyers might take classified documents from the court's custody to keep the charity's representatives from reviewing them. The suit by the al-Haramain Islamic Foundation has proceeded further than any other in challenging the use of warrantless wiretaps, threatening to expose the inner workings of that program. In his campaign plan to "change Washington," Obama criticized the Bush administration, saying that it had "ignored public disclosure rules" and that it too often invoked the state-secrets privilege. Now, Obama's claim of state secrets has prompted criticism. "There [have] to be other ways to protect secret information without having to block accountability," said Erwin Chemerinsky, a law professor at the University of California at Irvine. He said that "state secrets" has become a sort of "talismanic phrase" uttered by government officials who want to dispose of inconvenient or troubling challenges to their authority.

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


IRS defends drop in audits of millionaires
2009-03-22, MSNBC/Associated Press
http://www.msnbc.msn.com/id/29831158

The Internal Revenue Service is not living up to its pledge to crack down on wealthy tax cheats, an IRS watchdog group says, citing a drop in audits of millionaires last year. Those with incomes of $1 million and above had a 5.6 percent chance of getting audited in fiscal year 2008, which ended last September, down from 6.8 percent the previous year, according to IRS figures. The actual number of millionaires audited fell from 23,200 to 21,874; the number of millionaires filing tax returns grew from 339,138 to 392,776. "In the face of growing federal deficits and public calls to lower the tax gap — the amount of taxes due but not reported and paid — the drop in millionaire audits is surprising," said the Syracuse University-based Transactional Records Access Clearinghouse in a report Monday. It said the significant drop in audits of richer Americans contrasted with IRS statements last year that it was making strong progress in enforcement, especially of those with incomes of more than $1 million. The TRAC report said focus on high earner returns is critical because of the huge rewards. Among those millionaire audit cases where additional taxes were recommended, the average was $198,000 after face-to-face audits and $137,000 for audits done through correspondence. In total, the IRS collected $56.4 billion in enforcement revenues last year, down from $59.2 billion in 2007 and the first decline in collections in a decade.

Note: The highly important statistic only mentioned in passing here is "the number of millionaires filing tax returns grew from 339,138 to 392,776." That's an over-15% increase in the number of millionaires in one year, while most everyone else seems to be losing money. Hmmmm. Makes you wonder.


U.S. Won’t Label Terror Suspects as ‘Combatants’
2009-03-14, New York Times
http://www.nytimes.com/2009/03/14/us/politics/14gitmo.html?partner=rss&emc=rs...

The Obama administration said Friday that it would abandon the Bush administration’s term “enemy combatant” as it argues in court for the continued detention of prisoners at Guantánamo Bay, Cuba, in a move that seemed intended to symbolically separate the new administration from Bush detention policies. But in a much anticipated court filing, the Justice Department argued that the president has the authority to detain terrorism suspects there without criminal charges, much as the Bush administration had asserted. It provided a broad definition of those who can be held, which was not significantly different from the one used by the Bush administration. The filing signaled that, as long as Guantánamo remains open, the new administration will aggressively defend its ability to hold some detainees there. The filing, in Federal District Court in Washington, was meant to provide a definition of those detainees who can be held and bitterly disappointed critics of Guantánamo, who said it seemed to continue the policies they have criticized for more than seven years. It was the latest example of the Obama administration’s taking ownership of Guantánamo, even after having announced it would close the prison, where 241 men remain. “This seems fundamentally consistent with the positions of the prior administration,” said Steven A. Engel, who was a senior lawyer responsible for detainee issues in the Justice Department’s Office of Legal Counsel until the final day of the Bush administration.

Note: For lots more on the "war on terrorism", click here.


Surviving Recession: Medical research seen as lure in hard times
2009-03-13, Sacramento Bee (Sacramento, CA's leading newspaper)
http://www.sacbee.com/273/story/1696087.html

Retirement slammed Carole Jacko. Raising two grandchildren, she's too young for Medicare and too strapped to pay $600 a month for health insurance. So when a trip to the emergency room ended with a diagnosis of diabetes, Jacko found a creative solution. She became a medical guinea pig, offering herself to science in exchange for free medication, free doctor's visits and even a modest payment. With the economy careening and millions uninsured, some doctors and researchers believe the lure of volunteering for medical research is growing – and so are potential ethical pitfalls. "Sometimes desperation leads people to be poor shoppers," to gloss over risks or grasp at imagined benefits, said Kevin Weinfurt, a Duke University professor who focuses on medical decision-making and ethics. No regulations limit how much a person can be paid to take part in medical research. Researchers do not agree on how much money it takes to cross the line and exert "undue influence" or coercion to get someone to enroll in a study. That's something federal regulations do forbid. "This is the most complicated issue in research ethics, and it's still an unsettled question," Weinfurt said. It has lingered for more than 100 years, since an Army surgeon named Walter Reed paid volunteers at a Cuban outpost $100 in gold to risk being infected with yellow fever. The men got another $100 if they contracted the disease, payable to themselves – or any designated survivor.

Note: For many reports on corruption in the pharmaceutical and medical industries from major media sources, click here.


Army manual raises emphasis on electronic warfare
2009-02-25, Washington Post/Associated Press
http://www.washingtonpost.com/wp-dyn/content/article/2009/02/25/AR20090225022...

For the first time since the end of the Cold War, the Army is updating its plans for electronic warfare, calling for more use of high-powered microwaves, lasers and infrared beams to attack enemy targets and control angry crowds. The 112-page manual, a copy of which was obtained by The Associated Press ... doesn't offer specifics on new equipment or gadgetry but lays out in broad terms the Army's fear that without new equipment and training, U.S. forces may be at a deadly disadvantage. Army patrols currently rely on specially trained Air Force and Navy members whose electronic expertise helps sniff out improvised explosive devices, which have killed more than 1,700 U.S. troops since the war began. The Army sees the need for a new system more finely tuned to its purposes. The new doctrine directs the Army, which has put a premium on fighting insurgents in Iraq's most populous cities, to use technology that can distinguish enemy threats from common technologies such as radios or cell phones used by civilians or friendly forces. It also calls on the Army to develop and deploy directed-energy weapons, which would produce a concentrated beam of electromagnetic energy or atomic or subatomic particles to blind, disrupt or destroy targets. Such technology could be used in a variety of attack modes against enemy equipment, facilities or personnel.

Note: How can anyone claim that our troops, with all of their already sophisticated weapons, may be "at a deadly disadvantage"? For many key reports on the realities of modern warfare, click here.


On Elephant Sanctuary, Unlikely Friends
2009-01-02, CBS News
http://www.cbsnews.com/stories/2009/01/02/assignment_america/main4696340.shtml

When elephants retire, many head for the Elephant Sanctuary in Hohenwald, Tenn. They arrive one by one, but they tend to live out their lives two-by-two. "Every elephant that comes here searches out someone that she then spends most all of her time with," says sanctuary co-founder Carol Buckley. It's like having a best girlfriend, Buckley says - "Somebody they can relate to, they have something in common with." Debbie has Ronnie. Misty can't live without Dulary. Those are pachyderm-pachyderm pairs. But perhaps the closest friends of all are Tarra and Bella. That would be Tarra the 8,700 pound Asian elephant. And Bella. The dog. "This is her friend," Buckley says. "Her friend just happens to be a dog and not an elephant. Bella knows she's not an elephant. Tarra knows she's not a dog. But that's not a problem for them." Bella is one of more than a dozen stray dogs that have found a home at the sanctuary. Most want nothing to do with the elephants and vice versa. But not this odd couple. "When it's time to eat they both eat together. They drink together. They sleep together. They play together," Buckley says. Bella even lets Tarra pet her tummy - with the bottom of her enormous foot. They harbor no fears, no secrets, no prejudices. Just two living creatures who somehow managed to look past their immense differences. Take good look at this couple, America. Take a good look world. If they can do it - what's our excuse?

Note: Don't miss the inspiring, four-minute video of these two available here.


Alternative Currencies Grow in Popularity
2008-12-14, Time magazine
http://www.time.com/time/business/article/0,8599,1865467,00.html

Most of us take for granted that those rectangular green slips of paper we keep in our wallets are inviolable: the physical embodiment of value. But alternative forms of money have a long history and appear to be growing in popularity. It's not merely barter or primitive means of exchange like seashells or beads. Beneath the financial radar, in hip U.S. towns or South African townships, in shops, markets and even banks, people throughout the world are exchanging goods and services via thousands of currency types that look nothing like official tender. Alternative means of trade often surface during tough economic times. "When money gets dried up and there are still needs to be met in society, people come up with creative ways to meet those needs," says Peter North, a senior lecturer in geography at the University of Liverpool and the author of [a book] on the subject. He refers to the "scrips" issued in the U.S. and Europe during the Great Depression that kept money flowing and the massive barter exchanges involving millions of people that emerged amid runaway inflation in Argentina in 2000. "People were kept from starving [this way]," he says. Closer to home, "Ithaca Hours," with a livable hourly wage as the standard, were launched during the 1991 recession to sustain the economy in Ithaca, N.Y., and stem the loss of jobs. Hours, which are legal and taxable, circulate within the community, moving from local shop to local artisan and back, rather than leaking out into the larger monetary system. The logo on the Hour reads "In Ithaca We Trust." Alternative (or "complementary") currencies range from quaint to robust, simple to high tech.

Note: Read the entire article at the link above to learn about the great range of uses and benefits provided by alternative currencies.


Author's adventures with rats build schools
2008-12-07, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/12/07/BAPA14I7MO.DTL

Stefan Lyon has many titles: Author, humanitarian, international philanthropist. And seventh-grader. Stefan has just finished his third book about his San Francisco adventures with his pet rats. As with his first two books, all proceeds go to build schools in Africa. "I want to help the less fortunate," said Stefan, 13, at a recent book signing at a law firm in a downtown high-rise. "There are a lot of AIDS orphans in Africa." For $5,000, he financed the conversion of an abandoned cowshed in Kakamega, Kenya, into a two-room school. He's now halfway through construction of an eight-room school for 100 children ... in the neighboring village of Bungoma. Stefan is on a book promotion tour for the holidays, hoping to raise the last $30,000 to finish the school. Stefan, who has his own nonprofit, the Stefan Lyon Foundation, knows that he's not a typical 13-year-old, but he also doesn't know what all the fuss is about. Stefan was always a compassionate child. "He'd sit with the kids who got bullied at school until they felt better," [his mother] said. By elementary school, Stefan passed out cookies and blankets to the homeless at the Civic Center from his red wagon. He'd insert notes in the cookie bags: "I'm thinking of you." "God loves you." In the third grade at St. Brendan School, he was inspired by his teacher, Renée McHugh, who gave a lesson on Africa and explained how little money was needed to build schools for orphans. He wanted to sell cookies from his wagon to finance an African school. A supermarket gave him free cookie dough, and he got to work.


Bailout Oversight Lacking, GAO Says
2008-12-03, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/12/02/AR20081202022...

The Bush administration has failed to adequately oversee its $700 billion bailout program and must move rapidly to guarantee that banks are complying with the plan's limits on conflicts of interest and lavish executive compensation, congressional investigators said yesterday. The new report by the Government Accountability Office, the nonpartisan investigative arm of Congress, said the Treasury Department has yet to impose necessary safeguards or decide how to determine whether the program is achieving its goals. The auditors said it was too soon for them to tell whether the bailout was working. "The rapid pace of implementation and evolving nature of the program have hampered efforts to put a comprehensive system of internal control in place," the report said. "Until such a system is fully developed and implemented, there is heightened risk that the interests of the government and taxpayers may not be adequately protected and that the program objectives may not be achieved in an efficient and effective manner." So far, the rescue package has provided at least $150 billion in capital infusions to 52 financial institutions, the auditors said. They added that no applications for funding were denied by the Treasury. The congressional auditors urged Treasury officials to determine how each bank receiving bailout money is using the money and whether they are using it in a way consistent with the intent of the law. Several congressional leaders have criticized financial firms for hoarding the money instead of using it to lend to borrowers.

Note: For many revealing reports on the Wall Street bailout from reliable sources, click here.


Tapping your cell phone
2008-11-13, WTHR-TV (Indianapolis NBC affiliate)
http://www.wthr.com/global/story.asp?s=9346833

Imagine someone watching your every move, hearing everything you say and knowing where you are at every moment. If you have a cell phone, it could happen to you. After four months of harassing phone calls, Courtney Kuykendall was afraid to answer her cell phone. The Tacoma, Washington, teenager was receiving graphic, violent threats at all hours. And when she and her family changed their cell phone numbers and got new phones, the calls continued. Using deep scratchy voices, anonymous stalkers literally took control of the Kuykendall's cell phones, repeatedly threatened Courtney with murder and rape, and began following the family's every move. "They're listening to us and recording us," Courtney's mother, Heather Kuykendall, told NBC's Today Show. "We know that because they will record us and play it back as a voicemail." How is something like this possible? Just take a look on the internet. That's where you'll find the latest spy technology for cell phones. Spyware marketers claim you can tap into someone's calls, read their text messages and track their movements "anywhere, anytime." Security experts say it's no internet hoax."It's real, and it is pretty creepy," said Rick Mislan, a former military intelligence officer who now teaches cyber forensics at Purdue University's Department of Computer and Information Technology. Mislan has examined thousands of cell phones inside Purdue's Cyber Forensics Lab, and he says spy software can now make even the most high-tech cell phone vulnerable. "I think a lot of people think their cell phone calls are very secure but our privacy isn't always what we think it is."

Note: For lots more on increasing corporate and governmental threats to privacy, click here.


Treasury could bail out any industry
2008-10-30, San Francisco Chronicle/Associated Press
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/10/30/BU1D13QM6S.DTL

As the list of ailing companies seeking government help grows, it is anybody's guess where the Treasury Department's largesse will stop. The $700 billion bailout bill is so vague that virtually any U.S. company could be eligible for government help. While the capital infusions announced this month will be directed only to banks, Treasury spokeswoman Brookly McLaughlin confirmed that the law allows the department to create other rescue programs "open to a broader set of financial institutions." As the bill is written, "financial institutions" don't have to be banks or financial entities. In theory, any company could declare itself a financial institution and ask the Treasury Department to grant it temporary aid if its rescue is deemed "necessary to promote financial market stability." "Talk about the barn doors being left open - it's like they left off the walls and roof, too," said Bert Ely, an independent banking consultant. He suggested that under the bill, an airline could transfer future revenue streams into a subsidiary and ask the government to buy shares in that new "financial institution." Representatives of the auto, insurance and other industries are already seeking government help, indicating they think they qualify because of their financing units. Airlines and home builders are lobbying for government help to prop them up through the economic downturn - either under the bailout bill or some other legislation. And if insurance and auto lobbyists succeed in their efforts to tap the bailout money, experts said other industries will probably follow.

Note: For extensive coverage of continuing revelations about the Wall Street bailout, click here.


Waxman Seeks Bank Data On Use of Bailout Funds
2008-10-29, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/28/AR20081028034...

Congressional investigators yesterday demanded that the nation's nine largest banks prove they are not using an emergency infusion of $125 billion in taxpayer funds to lavish their executives with wealthy bonuses. "I question the appropriateness of depleting the capital that taxpayers just injected into the banks through the payment of billions of dollars in bonuses, especially after one of the financial industry's worst years on record," [Rep. Henry A. Waxman (D-Calif.), chairman of the House Committee on Oversight and Government Reform,] wrote in a letter to the banks. Lawmakers across the political spectrum want to ensure that the government's bailout program results in increased lending, not bigger paydays for executives. But a new study suggests that financiers are still bullish about their bonuses. More than two-thirds of Wall Street professionals are expecting a bonus this year, and 36 percent are anticipating a larger bonus than last year, according to a survey by eFinancialCareers, a career networking company. "Some experts have suggested that a significant percentage of this compensation could come in year-end bonuses and that the size of the bonuses will be significantly enhanced as a result of the infusion of taxpayer funds," Waxman said. In his letter to the banks, Waxman asked them to provide detailed data on compensation packages since 2006, as well as the projected salaries and bonuses for the rest of the year. The request was sent to Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, J.P. Morgan Chase, Merrill Lynch, Morgan Stanley, State Street, and Wells Fargo.

Note: For extensive coverage of continuing revelations about the Wall Street bailout, click here.


Gap between rich, poor grows in wealthy nations
2008-10-22, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/10/22/MNS213LJU5.DTL

Economic inequality is growing in the world's richest countries, particularly in the United States. The gap between rich and poor has widened over the last 20 years in nearly all the countries studied, even as trade and technological advances have spurred rapid growth in their economies. With job losses and home foreclosures skyrocketing and many of these countries now facing recession, policymakers must act quickly ... the Organization for Economic Cooperation and Development said. "What will happen if the next decade is not one of world growth but of world recession? If a rising tide didn't lift all boats, how will they be affected by an ebbing tide?" Oxford University economist Anthony Atkinson said at a conference at the organization's Paris headquarters. In a 20-year study of its member countries, the group found inequality had increased in 27 of its 30 members as top earners' incomes soared while others' stagnated. The United States has the highest inequality and poverty rates in the organization after Mexico and Turkey, and the gap has increased rapidly since 2000, the report said. France, meanwhile, has seen inequalities fall in the past 20 years as poorer workers are better paid. Rising inequality threatens social mobility ... which is lower in countries like the United States, Great Britain and Italy, where inequality is high, than countries with less inequality such as Denmark, Sweden and Australia, the report said. Wealthy households are not only widening the gap with the poor, but in countries such as the United States, Canada and Germany, they are also leaving middle-income earners further behind.

Note: For more reports from reliable sources on increasing income inequality, click here.


Are we really alone?
2008-10-21, ABC News
http://abcnews.go.com/video/playerIndex?id=6076967

Nick Pope worked for Britain's ministry of defense - his job to investigate UFOs sightings. There are some cases, ... about 5 percent, that can't be explained. They are genuine unknowns. 11,000 UFO sightings have been reported in Britian since 1959. Only now are the details being revealed. Lieutenant Milton Torres was ordered to keep silent about what happened. [On] May 20, 1957, he scrambled his sabre jet from a base in England with orders to arm all weapons and fire on sight. Before he could fire, the erratic bright blip on his radar simply disappeared. Any day now, the most contentious file of them all will be opened, the file on Rendlesham Forest, Britain's equivalent of Roswell. POPE: "I have no explanation for the Rendlesham Forest incident." It was Christmas night 1980. Guards at two US Air Force bases in eastern England thought they saw a plane crash in these woods. They investigated and reported a strange glowing object, metallic in appearance. It illuminated the entire forest. The object was hovering or on legs. Two nights later the lights returned. Lt. Col. Charles Halt recorded this as he walked through the dark forest: "Weird. It is coming this way. It is definitely coming this way. This is wierd. There's something very, very strange." Halt's men recorded high radiation levels here at the alleged landing site. The official agenda is ... that gradual disclosure has to be the way. When we're deemed ready to handle the unsettling truth of aliens among us, then all will be revealed.

Note: Don't miss this fascinating five-minute video clip at the link above. To see the video without commercials, click here. For an excellent website on the Rendlesham Forest incident, click here.


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