News ArticlesExcerpts of Key News Articles in Major Media
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ZubaBox is a shipping container converted into a solar-powered internet café or classroom for people in need living in remote areas - including refugee camps. The interior of the box can accommodate up to 11 individuals at a time and gives people in traditionally marginalized communities a sense of inclusion while widening their opportunities. “The ZubaBox ... gives [people] a space that they deserve to improve their learning experience and achieve their goals,” Rajeh Shaikh, marketing and PC donations manager at Computer Aid International - the nonprofit organization that created and builds the boxes - told The Huffington Post. “We also enable educators to provide valuable 21st century digital skills.” The refurbished PCs located inside of a Zubabox are powered by solar panels located on the shipping container’s roof. Since 2010, 11 Zubaboxes have been placed in neighborhoods throughout Ghana, Kenya, Nigeria, Togo, Zambia and Zimbabwe. On May 26, Computer Aid built its 12th Zubabox ... in Cazuca, a suburb of Bogota, Colombia, where many displaced people settle. Since the Lab arrived in the South American neighborhood, the little box has had a huge impact. “The younger generation has naturally been curious and excited. But the emotion that this [Lab] has stirred in the elders has been really moving,” [said] William Jimenez, a native to Cazucá and regional coordinator at Tiempo de Juego, a nonprofit that works to provide the youth of Colombia with more constructive uses for their free time.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
President Obama will become the first sitting U.S. president to visit Hiroshima, the Japanese city that the United States nearly destroyed with a nuclear bomb in 1945. While the bombing ... killed as many as 150,000 people, Obama is not expected to apologize during his visit. After more than 70 years, why not apologize for Hiroshima? Countries in general do not apologize for violence against other countries. What else has America not apologized for? Here are a few ideas. During the Vietnam War, the United States sprayed about 12 million gallons of Agent Orange, a herbicide, over areas of Vietnam, Cambodia and Laos. About 1 million people were disabled or suffered health problems because of contact with the herbicide. There has been no apology for this or for other controversies of the war. In 1953, democratically elected Iranian Prime Minister Mohammed Mossadegh was overthrown in a coup [that] was carried out under CIA direction ... with the aid of the British Secret Intelligence Service. The United States and Britain have never apologized for [this], with the Obama administration recently stating that it had no plans to. The United States is also widely suspected of involvement in a bloody 1973 coup that ousted socialist Chilean President Salvador Allende in 1973 and put dictator Augusto Pinochet in control. In 1977, Brady Tyson, deputy leader of the U.S. delegation to the U.N. Human Rights Commission in Geneva, did ... offer an apology for the U.S. involvement in the coup, but he was quickly disavowed by the State Department.
Note: Read a detailed description of how the New York Times suppressed and skewed the facts about the effects of the atomic bomb in order to forward the war-profiteering agenda. Although CIA involvement in the Iranian coup and the Pentagon's prolonged support for the Pinochet regime's torturers are now well-known, the intelligence community remains unapologetically corrupt.
CEOs at the biggest companies got a 4.5 percent pay raise last year. That's almost double the typical American worker's, and a lot more than investors earned from owning their stocks - a big fat zero. The typical chief executive in the Standard & Poor's 500 index made $10.8 million, including bonuses, stock awards and other compensation, according to a study by executive data firm Equilar for The Associated Press. That's up from the median of $10.3 million the same group of CEOs made a year earlier. The raise alone for median CEO pay last year, $468,449, is more than 10 times what the typical U.S. worker makes in a year. The median full-time worker earned $809 weekly in 2015, up from $791 in 2014. "With inflation running at less than 2 percent, why?" asks Charles Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware. The answer is complicated. CEO pay packages now hinge on multiple layers of sometimes esoteric measurements of performance. That's a result of corporate boards attempting to respond to years of criticism ... from Main Street America, regulators and even candidates on the presidential trail this year. One bright spot, experts say, is the rise in the number of companies that tie CEO pay to how well their stocks perform. "There's progress generally in aligning compensation with shareholder returns," says Stu Dalheim, vice president of governance and advocacy at Calvert Investments. "But I don't think this compensation is sustainable."
Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.
As the Obama administration prepares to publish a long-delayed accounting of how many militants and noncombatant civilians it has killed since 2009, its statistics may be defined as much by what is left out as by what is included. Release of the information was first envisioned ... as part of strict new guidelines President Obama announced for the United States’ controversial use of drones and other forms of lethal force to battle terrorism abroad. Such operations, Obama said ... would also be subject to new transparency and oversight. The death tolls, like the guidelines, will cover places where the United States conducts airstrikes but does not consider itself officially at war. They are likely to exclude Pakistan, where the CIA has conducted hundreds of drone strikes. The United States still does not publicly acknowledge CIA attacks inside Pakistan, although the Pentagon announced Saturday that it had targeted Taliban leader Akhtar Mohammad Mansour in Pakistan. Not all strikes in the included countries are considered counterterrorism actions. The totals will almost inevitably be challenged by independent groups that keep their own tallies and for years have charged that the administration undercounts civilian deaths caused by drone strikes. In emailed responses to written questions, the Defense Department said it keeps no central list of strikes “outside areas of active hostilities.” Some are announced by the Pentagon, some by Central Command in charge of Yemen, and others by the Africa Command. Some are not made public at all.
Note: Watch this video which shows how governments promote war in order to pad the pockets of mega-corporations which profit greatly from arms sales. Drone strikes almost always miss their intended targets and reportedly create more terrorists than they kill. Casualties of war whose identities are unknown are frequently mis-reported to be "militants". For more along these lines, see concise summaries of deeply revealing war news articles from reliable major media sources.
Plastic six-pack rings are the bane of conservationists - images of sea birds and turtles entangled in them serve as constant reminders that consumer culture and the environment don’t get along. But thanks to an innovation from a Florida-based brewery, we can feel a little better about enjoying a six-pack. Saltwater Brewery has partnered with the ad agency We Believers to create what they say is the first fully edible beer can packaging. Made from byproducts of the brewing process such as wheat and barley, their six-pack holders are fully biodegradable and completely digestible. Rather than ensnaring curious animals in a corset of litter, the company’s six-pack rings could serve as a satisfying snack. And if nothing is biting, the rings quickly decompose. Plus, the drink holders are just as strong as the plastic variety, which should keep those Screamin’ Reels safe, as well. The company 3-D printed a test batch of 500 holders in April, according to AdvertisingAge, and it plans to scale up production to meet its current output of 400,000 cans of beer a month. While the edible holders are more expensive to make, Saltwater Brewery wants set an example for other beer producers and encourage them to adopt the idea. They say if their edible holders become commonplace, they could potentially be as cheap as the regular plastic rings.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Democratic presidential front-runner Hillary Clinton is ramping up her fundraising schedule, attending a number of fundraisers this week that cost donors six-figures to attend. The former secretary of state attended a pair of small, intimate gatherings in New York City on Thursday evening that cost donors a minimum of $100,000 to attend. On Wednesday, she attended two $100,000-a-head events in Englewood, N.J., and New York City. [The] Thursday event was at the home of Lynn Forester de Rothschild, a prominent New York businesswoman and supporter of Mrs. Clinton and Democratic candidates. Six-figure fundraisers are a new frontier in presidential politics, made possible by a 2014 Supreme Court case that tossed a key contribution limit governing how much donors could give across the board in a single election cycle. As a result, campaigns and parties can now fundraise in tandem with each other. Mrs. Clinton’s events on Thursday [were] not the campaign’s first foray into high-dollar fundraising. In April, the campaign held an event at the home of actor George Clooney. The event cost $33,400 to attend, though donors who contributed $353,400 could sit at the head table.
Note: Read about Hillary's direct connections with the Rothschild family, as revealed through Wikileaks data. Read also a recent Washington Post article stating that control over US politics by the financial elites has ushered the country into a "new Gilded Age". For more along these lines, see concise summaries of deeply revealing elections corruption news articles from reliable major media sources.
When Jimmy Kimmel asked Hillary Clinton in a late-night TV interview about UFOs, she quickly corrected his terminology. “You know, there’s a new name,” Clinton said. “It’s unexplained aerial phenomenon,” she said. “UAP. That’s the latest nomenclature.” Her unusual knowledge about extraterrestrials ... has struck a small but committed cohort of voters. Clinton has vowed that barring any threats to national security, she would open up government files on the subject, a shift from President Barack Obama, who typically dismisses the topic as a joke. Her position has elated UFO enthusiasts, who have declared Clinton the first “E.T. candidate.” Stephen Bassett, who lobbies the government on extraterrestrial issues, views a Clinton presidency as a chance to finally get the United States to disclose all it knows about life beyond Earth. Bassett’s organization has sent roughly 2.5 million Twitter messages to presidential candidates, elected officials and the media urging a serious discussion of the issue. The movement viewed Clinton’s decision to correct Kimmel’s use of the term UFO ... as a breakthrough because it “suggested she’d been briefed by someone,” Buchman said. In fact, Clinton had been briefed. Her campaign chairman, John D. Podesta ... is not only a well-respected Washington hand, having served as a top adviser to Obama and President Bill Clinton, but is also a crusader for disclosure of government information on unexplained phenomena that could prove the existence of intelligent life outside Earth.
Note: Check out strong evidence in declassified FBI files that UFOs are quite real. For more along these lines, see concise summaries of deeply revealing UFO cover-up and disclosure news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our UFO Information Center.
We live in a time when people are less optimistic, more cynical and have lower expectations, in part because they see government and other institutions as ineffective and unresponsive. Of course the challenges we face today are as solvable as any problems we have confronted in the past. We as individuals still can make a difference. How? Well, one way is through our investments. We don’t have to wait for governments to take action. We can actually increase our influence over world events, and potentially have a greater impact (and feel a little less powerless) not just through civic participation, or voting, or supporting non-profits - all of which remain vitally important - but through our role as investors. Rather than investing in fossil fuel companies, you can invest in energy efficiency and renewable energy; clean water and pollution control; sustainable food and agriculture. The bottom line: As investors, we have more power than we realize. We can prod and pressure and cajole companies into doing the right thing. Unfortunately, too many of us fail to leverage this power. Investors are not powerless. We can move the needle. And ... it is both a moral imperative and an economic imperative that the needle be moved.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the corporate world.
Harriet Tubman will boot Andrew Jackson from the face of the $20. She'll become the first black woman ever to front a U.S. banknote. Tubman, who died in 1913 at the age of 91, escaped slavery in the south and eventually led hundreds of escaped slaves to freedom as a "conductor" of the Underground Railroad. After the slaves were freed, Tubman was a staunch supporter of a woman's right to vote. "What she did to free people on an individual basis and what she did afterward," [Treasury Secretary Jack] Lew said. "That's a legacy of what an individual can do in a democracy." The $5 bill will keep Abraham Lincoln, the 16th president, on the front. The back of the bill will depict the Lincoln Memorial along with portraits of individuals involved in historic events that took place there. That includes Marian Anderson and Eleanor Roosevelt. The African-American opera singer and former first lady held a concert at the memorial in 1939 in an effort to move the civil rights movement forward. Martin Luther King Jr. will be added the back of the bill. The Lincoln Memorial was the site of his famous "I Have a Dream" speech in 1963. It's not clear when the $20 or $5 will enter circulation. Updating currency can take more than a decade.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The air quality in many cities has improved markedly thanks to improved technology in fuel-burning mechanisms, although problem areas remain, the American Lung Association announced Wednesday. The biggest improvement came as counties studied across the United States lowered the levels of particle pollution in the air. Although weather patterns change air quality, 16 US cities hit their lowest levels of particle pollution ever for the entire year. This included Los Angeles, although it remains the nation's most polluted city for ozone pollution, while Bakersfield topped the list for particle pollution. Many cities benefited from both new practices at power plants fueled by coal and better emissions and engine technology in cars and larger vehicles. Improvement came across the United States, and many areas are seeing the effects of the 1970 federal Clean Air Act. Although some still have dirty air, many of the nation's most polluted cities were slightly cleaner than last year. In Ohio, for example, particle pollution readings improved in Cleveland, making it among 16 cities that reported their lowest levels of particle pollution on record. The American Lung Association lauded the federal Clean Air Act, currently on hold by the Supreme Court, but urged states to individually evaluate their air quality to determine paths to improvement. As scientific information has become more available, cities have been able to make specific plans because they know their targets for clean air.
Note: Our older readers may remember when smog alerts in large cities were commonplace in the 1960s and many lakes that were practically devoid of life have now returned to life. We are definitely making progress in some areas.
Ben Cohen and Jerry Greenfield, the co-founders of Ben & Jerry's ice cream, aren't just ice cream makers. They are also advocates of social change – even if that means getting arrested. The two were among the 300 people arrested and soon released at the US Capitol on Monday, as part of "Democracy Spring" protests that have been ... campaigning for finance reform and voting rights. Many protesters are staunch supporters of Vermont Senator and Democratic presidential candidate Bernie Sanders, whom the famous ice cream duo has publicly backed with a variety of initiatives from ice cream itself to illuminated road signs. Democracy "looks great from the outside, but inside it’s a disappointing mess," reads a statement on Ben & Jerry's website. "With corporations and billionaires pouring unlimited, unchecked dollars into politicians' pockets and new voter restrictions popping up across the country, this is no longer a government of the people and for the people; this is a government of the rich, and for the rich." On Tuesday, the [website] featured a blog detailing the arrests of the co founders, including pictures of the two as they were participating the protests. It's not the first time Ben & Jerry's has brought its political views to the table. "You could say that our passion for social justice has been baked right into everything we’ve ever done," the owners wrote. They've been vocal supporters of Senator Sanders, too.
Note: The media's reluctance to cover "Democracy Spring" has not stopped Ben & Jerry from speaking up to fix the US political process. Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The pernicious influence of "economic hit men" has spread around the globe. John Perkins revealed his first-hand experience of this violent and coercive phenomenon. Now, in The New Confessions of an Economic Hit Man, he brings this story of greed and corruption up to date. The treacherous cancer beneath the surface, which was revealed in the original Confessions of an Economic Hit Man, has ... spread from the economically developing countries to the United States and the rest of the world; it attacks the very foundations of democracy and the planet's life-support systems. Although this cancer has spread widely and deeply, most people still aren't aware of it; yet all of us are impacted by the collapse it has caused. It has become the dominant system of economics, government, and society today, [and] created a "death economy" - one based on wars or the threat of war, debt, and the rape of the earth's resources. Although the death economy is built on a form of capitalism, it is important to note that the word capitalism ... includes local farmers' markets as well as this very dangerous form of global corporate capitalism, controlled by the corporatocracy. Despite all the bad news and the attempts of modern-day robber barons to steal our democracy and our planet ... when enough of us perceive the true workings of this EHM system, we will take the individual and collective actions necessary to control the cancer and restore our health.
Note: Read a revealing seven-page summary of Economic Hit Man and spread the word!
A US government agency says it has attained the “holy grail” of energy – the next-generation system of battery storage. Advanced Research Projects Agency-Energy (Arpa-E) – a branch of the Department of Energy – says it achieved its breakthrough technology in seven years. Ellen Williams, Arpa-E’s director, said: “We can create a totally new approach to battery technology, make it work, make it commercially viable, and get it out there.” If that’s the case, Arpa-E has come out ahead of Gates and Musk in the multi-billion-dollar race to build the next generation battery for power companies and home storage. The battery storage systems developed with Arpa-E’s support are on the verge of transforming America’s electrical grid ... within the next five to 10 years, Williams said. She said projects funded by Arpa-E had the potential to transform utility-scale storage, and expand the use of micro-grids by the military and for disaster relief. Projects were also developing faster and more efficient super conductors. The companies incubated at Arpa-E have developed new designs for batteries, and new chemistries, which are rapidly bringing down the costs of energy storage, she said.
Note: Arpa-E is involved with a large number of breakthrough energy projects. For more along these lines, see concise summaries of deeply revealing new energy technology news articles from reliable major media sources.
Decades after the U.S. Federal Government banned the drug ecstasy — which in turn went underground, gaining notoriety as a party drug — a Bay Area medical team got special permission to study its therapeutic use. The goal of the trial is to see whether a pure dose of the compound MDMA, also known as ecstasy, can be pure medicine: could it ease the crippling anxiety, fear, or depression felt by those suffering from a life-threatening disease? The lead investigator for this study is psychiatrist Phil Wolfson. The medical doctor has permission from the U.S. FDA to conduct the study, and legally administer the drug. “The FDA approved so the DEA had to follow suit,” explained Wolfson. Before the DEA declared MDMA illegal in 1985, Doctor Wolfson used it medicinally in his own practice and saw a tremendous benefit for patients. In the study, MDMA is not used alone. The use of the compound is combined with psychotherapy sessions that can last five hours or longer. “It’s not this 50 minutes in and out, it’s these extended periods of real interactive exchange, “ explained [study participant Andy] Gold. “With the MDMA, everything opened up,” recalled [study participant Wendy] Donner. “You start seeing things very, very clearly and at a nice slow pace, truths in your life are bubbling up. And revealed to you piece by piece,” explained [study participant John] Saul. The participants all say they’ve changed and are better able to face the future. Wolfson hopes the drug may one day be available to other patients as a legally accepted remedy.
Note: While the war on drugs has been called a "trillion dollar failure", the healing potentials of mind altering drugs are starting to be investigated more openly.
The world is undergoing a populist revival. From the revolt against austerity led by the Syriza Party in Greece and the Podemos Party in Spain, to Jeremy Corbyn's surprise victory as Labour leader in the UK, to Donald Trump's ascendancy in the Republican polls, to Bernie Sanders' surprisingly strong challenge to Hillary Clinton - contenders with their fingers on the popular pulse are surging ahead of their establishment rivals. What Sanders is proposing ... is a real financial revolution, a fundamental change in the system itself. Banks today have usurped the power to create the national money supply. As the Bank of England recently acknowledged, banks create money whenever they make loans. Banks determine who gets the money and on what terms. How can banking be made to serve the needs of the people and the economy, while preserving the more functional aspects of today's highly sophisticated global banking system? We could have a system of publicly-owned banks that were locally controlled, operating independently to serve the needs of their own communities. Making these banks public institutions would differ from the current system only in that the banks would have a mandate to serve the public interest, and the profits would be returned to the local government for public use.
Note: Why is the only US presidential candidate talking seriously about bank reform being given little attention by mainstream media? For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the financial industry.
In the fall of 2010, a blogger asked Jane Mayer, a writer with The New Yorker, how she felt about the private investigator who was digging into her background. Ms. Mayer thought the idea was a joke. A few months later, she ran into a former reporter who had been asked about helping with an investigation into another reporter on behalf of two conservative billionaires ... Ms. Mayer recounts in “Dark Money: The Hidden History of the Billionaires Behind the Rise of the Radical Right.” Her acquaintance told her, “‘It occurred to me afterward that the reporter they wanted to investigate might be you.’” Ms. Mayer had published a major story in the magazine that August about the brothers David and Charles Koch, and their role in cultivating the power of the Tea Party movement. [She] began to take the rumored investigation seriously when she heard from her New Yorker editor that she was going to be accused - falsely - of plagiarism. A dossier of her supposed plagiarism had been provided to reporters at The New York Post and The Daily Caller, but the smears collapsed when the writers who were the purported victims made statements saying that it was nonsense. Who was behind this? Ms. Mayer ... traced it to a “boiler room” operation involving several people who have worked closely with Koch business concerns. The private investigation firm ... was Vigilant Resources International, whose founder and chairman, Howard Safir, had been New York City’s police commissioner under the former Mayor Rudolph Giuliani.
Note: The Koch brothers built a secretive empire to manipulate the political process in the US. This empire plans to spend $889 million on US elections in 2016. For more along these lines, see concise summaries of deeply revealing news articles about elections corruption and the manipulation of public perception.
Alma Tucker discovered what her lifework would be when she was about to retire. She had been working for the Mexican Consulates Department of Protection in San Diego. One of the assignments I had was to see patients in hospitals, Ms. Tucker says. She would act as an interpreter and help them find family members in Mexico. This time, it was a 14-year-old girl. When I arrived I found she was being sexually exploited by a smuggler, Tucker says. The smuggler, who was supposed to be transporting the girl into the US, had told her that her parents hadnt paid him, and so, he said, she was obligated to have sex with anyone he wanted her to. By the time the girl arrived in the US, she had been forced into sex by multiple men. That was when Tucker realized that victims of sex abuse and human trafficking need comforting as well as practical help. As she looked further into the problem of human trafficking on the US-Mexican border, she realized how few resources existed for Mexican victims. In 2010, Tucker and her husband established the International Network of Hearts, a nonprofit organization dedicated to helping victims of human trafficking, particularly underage ones, and raising awareness about the enormous problem of labor and sex trafficking. Then Tucker opened a home for underage victims in Tijuana, Mexico, called La Casa del Jardin The Garden House so named because, she says, she thinks of each girl as a flower waiting to bloom. We try to create a very healthy ambiance, she says. Theyre survivors. We give them a lot of love.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Robert Reich, former secretary of labor under President Bill Clinton and a professor of public policy at University of California, Berkeley, spent years warning of twin demons: Technology and globalization. Machines displaced ... workers whose routine jobs could be automated, and globalization meant the flight of manufacturing and service jobs to factories and call centers in emerging countries. The result was ever-widening inequality. In his latest book, “Saving Capitalism: For the Many, Not the Few,” he’s changed his tune. While those two factors still play a role in growing inequality, he cites a new culprit: “the increasing concentration of political power in a corporate and financial elite that has been able to influence the rules by which the economy runs.” [Reich explains], "Capitalism is based on trust. It’s impossible to have a system that works well and is based on billions of transactions if people don’t trust that others are going to fulfill their obligations, or they fear someone will take advantage of them or exploit them. That’s when a system moves from production to protection. Economists have been documenting inequality using various measures, but I haven’t seen much documentation of this issue of power. Political scientists and economists are [reluctant] to get into this field. Economists look at market power and monopolies, but the other areas I’ve talked about - this vicious cycle of compounded wealth and power that changes the rules of the game - economists are really not taking it on."
Note: Read how the market is rigged to grow inequality in this summary of a Robert Reich essay that recently appeared in Newsweek. For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.
Saudi Arabia’s well-funded public relations apparatus moved quickly after Saturday’s explosive execution of Shiite political dissident Nimr al-Nimr to shape how the news is covered in the United States. The execution led protestors in Shiite-run Iran to set fire to the Saudi Embassy in Tehran, precipitating a major diplomatic crisis. The Saudi side of the story is getting a particularly effective boost in the American media through pundits who are quoted justifying the execution, in many cases without mention of their funding or close affiliation with the Saudi Arabian government. Meanwhile, social media accounts affiliated with Saudi Arabia’s American lobbyists have pushed English-language infographics, tweets, and online videos to promote a narrative that reflects the interests of the Saudi regime. An editorial published by the Wall Street Journal approvingly quoted Joseph Braude of the Foreign Policy Research Institute claiming that Nimr was a violent extremist. Braude’s depiction of Nimr aligns with ... Saudi Arabia’s terrorism law, [which] includes as acts of terrorism merely criticizing the government. But as journalists and editors from the Christian Science Monitor, The Guardian, the BBC, and other prominent outlets have reported, Nimr advocated nonviolence and encouraged his followers to protest peacefully. Braude did not provide any evidence for his claims beyond anonymous “Saudi sources.”
Note: Read about the Saudi campaign to charm American policy makers even as it set a record in the number of public beheadings. For more along these lines, see concise summaries of deeply revealing news articles about government corruption and media manipulation.
Martin Shkreli, the 32-year-old former hedge fund manager notorious for jacking up the price of an obscure but critical drug, was arrested Thursday on securities fraud charges. The charges are unrelated to Shkreli’s leadership of Turing Pharmaceuticals. Instead, the charges brought by the U.S. attorney for the Eastern District of New York are related to Shkreli’s time at Retrophin, another bio-pharmaceutical company he founded, and his time at MSMB Capital Management, a hedge fund. Federal prosecutors alleged that for five years, Shkreli lied to investors in two hedge funds and bio-pharmaceutical company Retrophin, all of which he founded. After losing money on stock bets he made through one hedge fund, Shkreli allegedly started another and used his new investors’ money to pay off those who had lost money on the first fund. Then, as pressure was building, Shkreli started Retrophin, which was publicly traded, and used cash and stock from that company to settle with other disgruntled investors. Shkreli “engaged in multiple schemes to ensnare investors through a web of lies and deceit,” U.S. Attorney Robert L. Capers told reporters. “His plots were matched only by efforts to conceal the fraud, which led him to operate his companies ... as a Ponzi scheme.” At his arraignment Thursday afternoon, Shkreli pleaded not guilty. He was released on $5 million bond.
Note: The unrepentant profiteering of big pharma and financial industry corruption seem to go hand-in-hand for Martin Shkreli.
Important Note: Explore our full index to revealing excerpts of key 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.