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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.


Executive Order -- National Defense Resources Preparedness
2012-03-16, The White House
http://www.whitehouse.gov/the-press-office/2012/03/16/executive-order-nationa...

Section 101. Purpose. This order delegates authorities and addresses national defense resource policies and programs under the Defense Production Act of 1950. Sec. 103. General Functions. Executive departments and agencies ... responsible for plans and programs relating to national defense ... or for resources and services needed to support such plans and programs, shall: ... (c) be prepared, in the event of a potential threat to the security of the United States, to take actions necessary to ensure the availability of adequate resources and production capability, including services and critical technology, for national defense requirements; ... Sec. 310. Critical Items. The head of each agency engaged in procurement for the national defense is delegated the authority of the President ... to take appropriate action to ensure that critical components, critical technology items, essential materials, and industrial resources are available from reliable sources when needed to meet defense requirements during peacetime, graduated mobilization, and national emergency. Appropriate action may include restricting contract solicitations to reliable sources, restricting contract solicitations to domestic sources (pursuant to statutory authority), stockpiling critical components, and developing substitutes for critical components or critical technology items. [signed] BARACK OBAMA

Note: For analysis of this executive order issued by President Obama giving legal power to the executive office to take control of all national resources, public or private, in peacetime or in war, click here.


Corporations pay less in taxes than Buffett, Romney
2012-03-12, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/03/11/EDG91NILV9.DTL

Corporations pay a lower effective tax rate than Warren Buffett and Mitt Romney, but you wouldn't know it from all the complaints that our corporate tax rate puts our country at a competitive disadvantage. Despite an official corporate tax rate 35 percent, last year, U.S. corporations paid just 12.1 percent of their earnings in federal corporate income taxes. Buffett's tax rate is 17.4 percent; Romney's reported 2010 tax rate was 13.9 percent. Our broken tax system blesses U.S. multinational corporations with lots of loopholes that enable them to pay less in taxes than Main Street businesses. It has starved our government of revenue. Contrary to common perception, U.S. corporations pay far less toward the cost of public services and infrastructure than they did in decades past, and less than foreign competitors pay in their countries today. In the 1950s, corporate federal income taxes accounted for nearly one-third of federal government revenue; in 2011, corporate taxes accounted for less than 8 percent. U.S. corporate profits account for more than 10 percent of GDP, a 50-year high. Federal corporate income taxes collected as a percent of GDP are at a 50-year low. The challenge of corporate taxes and competitiveness is not that rates are too high, but that loopholes, preferences and subsidies make corporate tax collections far too low.

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


Holder: US can legally kill Americans in terror groups
2012-03-05, MSNBC
http://usnews.msnbc.msn.com/_news/2012/03/05/10585197-holder-us-can-legally-k...

The U.S. government is legally justified in killing its own citizens overseas if they are involved in plotting terror attacks against America, Attorney General Eric Holder said [on March 5], offering the Obama administration's most detailed explanation so far of its controversial targeted killing program. The Fifth Amendment provides that no one can be "deprived of life" without due process of law. But that due process, Holder said, doesn't necessarily come from a court. "Due process and judicial process are not one and the same, particularly when it comes to national security. The Constitution guarantees due process, not judicial process," the attorney general said. The ACLU called Holder's explanation "a defense of the government’s chillingly broad claimed authority to conduct targeted killings of civilians, including American citizens, far from any battlefield without judicial review or public scrutiny." "Few things are as dangerous to American liberty as the proposition that the government should be able to kill citizens anywhere in the world on the basis of legal standards and evidence that are never submitted to a court, either before or after the fact," said Hina Shamsi, director of the ACLU’s National Security Project. "Anyone willing to trust President Obama with the power to secretly declare an American citizen an enemy of the state and order his extrajudicial killing should ask whether they would be willing to trust the next president with that dangerous power,” she said. The ACLU is suing the Obama administration, seeking to have documents regarding the targeted killing program made public.

Note: Attorney General Holder's claim that US citizens can be killed by the government without judicial process clearly violates the U.S. Bill of Rights. In addition to the Fifth Amendment that states that no person shall be held to answer for a crime "without due process of law," the Sixth Amendment states that "the accused shall enjoy the right to a speedy and public trial."


The Archbishop of Dublin challenges the Church
2012-03-04, CBS News 60 Minutes
http://www.cbsnews.com/8301-18560_162-57390125.html

An Irishman named Diarmuid Martin says the Catholic Church in Ireland has reached a breaking point, a crisis that he says results from the sexual abuse of children by priests and the cover-up by the Church. Martin has provided tens of thousands of pages of evidence against specific priests, and his words and actions carry extraordinary weight. That's because Diarmuid Martin is the Roman Catholic Archbishop of Dublin. There's overwhelming evidence that the Church hierarchy was not only aware of the sexual abuse, but did little about it. The Dublin Archdiocese knew who the predator priests were, even wrote reports about them but then locked up the files. Investigators on a state panel, the Murphy Commission, asked for the files, but the Church refused until Diarmuid Martin became archbishop. The documents revealed that one priest admitted abusing over a hundred children. Another said he abused children twice a month for 25 years. Archbishop Martin believes thousands of children suffered similar fates. Martin: Abuse isn't [just] the actual sexual acts, which are horrendous, but sexual abuse of a child is ... a total abuse of power. It's actually saying to a child, "I control you." And that is saying to the child, "You're worthless."

Note: To see the video of this important piece, click here. For lots more from reliable sources on sexual abuse by the powerful, click here.


The extra dollars you're paying at the pump are going to Wall Street speculators
2012-02-28, Chicago Tribune
http://www.chicagotribune.com/sns-201202280930--tms--amvoicesctnav-a20120228f...

The current surge in gas prices has almost nothing to do with energy policy. It doesn't even have much to do with global supply and demand. It has most to do with America's continuing failure to adequately regulate Wall Street. Oil supplies aren't being squeezed. Over 80 percent of America's energy needs are now being satisfied by domestic supplies. In fact, we're starting to become an energy exporter. Demand for oil isn't rising. Oil demand in the U.S. is down compared to last year at this time. The American economy is showing only the faintest signs of recovery. Meanwhile, global demand is still moderate. Europe's debt crisis hasn't gone away. China's growth continues to slow. But Wall Street is betting on higher oil prices. Hedge-fund managers and traders assume that mounting tensions in the Middle East will hobble supplies later this year. Wall Street speculators also assume global demand for oil will rise in the coming year. These are just expectations, not today's realities. But they're pushing up oil prices just the same, because Wall Street firms and other big financial players now dominate oil trading. Where there's money to be made, Wall Street will find a way of making it. And when it comes to oil, so much money is at stake that gigantic sums can be made if the bets pay off. Speculators figure they can hedge against bad bets. Financial speculators historically accounted for about 30 percent of oil contracts, producers and end users for about 70 percent. But today speculators account for 64 percent of all contracts.

Note: This article was written by Robert Reich, former U.S. Secretary of Labor, professor of public policy at the University of California at Berkeley and the author of Aftershock: The Next Economy and America's Future. He blogs at www.robertreich.org. For lots more reliable information from the major media on energy manipulations, click here.


Leaked emails shine rare light on Stratfor
2012-02-28, MSNBC/Associated Press
http://www.msnbc.msn.com/id/46555168/ns/us_news-security

Private intelligence firm Stratfor ... sells what clients and subscribers consider some of the best geopolitical analysis that money can buy. Now the Texas-based think tank is the latest target of WikiLeaks chief Julian Assange, who says his anti-secrecy group has more than 5 million of Stratfor's emails and is promising to release damaging material in the coming weeks. The first, small batch published [on February 27] revealed clients that Stratfor has long safeguarded and refused to disclose. They range from local universities to megacorporations like Coca-Cola. An initial examination of the emails turned up a mix of the innocuous and the embarrassing. But Assange has accused Stratfor of serious deeds, such as funneling money to informants through offshore tax havens, monitoring activist groups on behalf of big corporations and making investments based on its secret intelligence. "What we have discovered is a company that is a private intelligence Enron," Assange told London's Frontline Club, referring to the Texas energy giant whose spectacular bankruptcy turned it into a byword for corporate malfeasance. In December, Stratfor founder George Friedman gave advice on handling sources to one of his analysts gathering information on the health of Venezuela President Hugo Chavez. "If this is a source you suspect may have value, you have to take control (of) him. Control means financial, sexual or psychological control to the point where he would reveal his sourcing and be tasked," the email read.

Note: For more powerful information on this most recent release of revealing documents by Wikileaks, click here. For verifiable information on astounding secret methods used to gain control of people as reported in declassified U.S. government documents, click here.


Bill Gates' support of GM crops is wrong approach for Africa
2012-02-27, Seattle Times
http://seattletimes.nwsource.com/html/opinion/2017612869_guest28ashton.html

Bill Gates' support of genetically modified crops as a solution for world hunger is of concern to those ... involved in promoting sustainable, equitable and effective agricultural policies in Africa. His technocratic ideology runs counter to the best informed science. The World Bank and United Nations funded 900 scientists over three years in order to create an International Assessment of Agricultural Knowledge, Science and Technology for Development (IAASTD). Its conclusions were diametrically opposed, at both philosophical and practical levels, to those espoused by Gates and clearly state that the use of GM crops is not a meaningful solution to the complex situation of world hunger. The IAASTD suggests that rather than pursuing industrial farming models, "agro-ecological" methods provide the most viable means to enhance global food security. These include implementing practical scientific research based on traditional seed varieties and local farming practices adapted to the local ecology over millennia. Agro-ecology has consistently proven capable of sustainably increasing productivity. Conversely, the present GM crops generally have not increased yields over the long run, despite their increased costs and dependence on agricultural chemicals, as highlighted in the 2009 Union of Concerned Scientists report, "Failure to Yield."

Note: For an excellent summary of the risks posed by genetically-modified foods, click here.


Treating Depression: Is there a placebo effect?
2012-02-19, CBS News 60 Minutes
http://www.cbsnews.com/8301-18560_162-57380893/treating-depression-is-there-a...

Do antidepressants work? "The difference between the effect of a placebo and the effect of an antidepressant is minimal for most people," says Harvard scientist Irving Kirsch. Kirsch's views are of vital interest to the 17 million Americans who take the drugs, including children as young as six and to the pharmaceutical industry that brings in $11.3 billion a year selling them. Irving Kirsch is the associate director of the Placebo Studies Program at Harvard Medical School. He says that his research challenges the very effectiveness of antidepressants. Kirsch's specialty has been the study of the placebo effect: the taking of a dummy pill without any medication in it that creates an expectation of healing that is so powerful, symptoms are actually alleviated. Kirsch, who's been studying placebos for 36 years, says "sugar pills" can work miracles. Kirsch: Placebos are great for treating a number of disorders: irritable bowel syndrome, repetitive strain injuries, ulcers, Parkinson's disease. Even traumatic knee pain. In this clinical trial some patients with osteoarthritis underwent knee surgery, while others had their knees merely opened and then sewn right back up. In terms of walking and climbing, the people who got the placebo actually did better than the people who got the real surgery. And that lasted for a year. At two years after surgery, there was no difference at all between the real surgery and the sham surgery. It's not all in your head because the placebos can also affect your body.

Note: For key reports from reliable sources on health issues, click here.


Foreclosure abuse rampant across U.S., experts say
2012-02-17, MSNBC/Reuters
http://www.msnbc.msn.com/id/46424973/ns/business/t/foreclosure-abuse-rampant-...

A report this week showing rampant foreclosure abuse in San Francisco reflects similar levels of lender fraud and faulty documentation across the United States, say experts and officials who have done studies in other parts of the country. The audit of almost 400 foreclosures in San Francisco found that 84 percent of them appeared to be illegal, according to the study released by the California city. "The audit in San Francisco is the most detailed and comprehensive that has been done - but it's likely those numbers are comparable nationally," Diane Thompson, an attorney at the National Consumer Law Center, told Reuters. Across the country from California, Jeff Thingpen, register of deeds in Guildford County, North Carolina, examined 6,100 mortgage documents last year, from loan notes to foreclosure paperwork. Of those documents, created between January 2008 and December 2010, 4,500 showed signature irregularities, a telltale sign of the illegal practice of "robosigning" documents. Robosigning involves the use of bogus documents to force foreclosures without lenders having to scrutinize all the paperwork involved with mortgages. The practice was at the heart of the foreclosure scandal that led to a $25 billion settlement between the U.S. government and five major banks last week.

Note: For lots more from major media sources on the illegal foreclosures made by the biggest banks and financial firms, the collusion of government agencies, and more, see our "Banking Bailout" news articles.


Canadian government is 'muzzling its scientists'
2012-02-17, BBC News
http://www.bbc.co.uk/news/science-environment-16861468

Speakers at a major science meeting being held in Canada said communication of vital research on health and environment issues is being suppressed. Prof Thomas Pedersen, a senior scientist at the University of Victoria, said he believed there was a political motive in some cases. The Canadian government recently withdrew from the Kyoto protocol to reduce carbon dioxide emissions. The allegation of "muzzling" came up at a session of the AAAS meeting to discuss the impact of a media protocol introduced by the Conservative government shortly after it was elected in 2008. The protocol requires that all interview requests for scientists employed by the government must first be cleared by officials. A decision as to whether to allow the interview can take several days, which can prevent government scientists commenting on breaking news stories. Sources say that requests are often refused and when interviews are granted, government media relations officials can and do ask for written questions to be submitted in advance and elect to sit in on the interview. Andrew Weaver, an environmental scientist at the University of Victoria in British Columbia, described the protocol as "Orwellian". Professor Weaver said that information is so tightly controlled that the public is "left in the dark"."The only information they are given is that which the government wants, which will then allow a supporting of a particular agenda," he said.

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


US sued over Navy sonar tests in whale waters
2012-01-26, NBC News
http://usnews.nbcnews.com/_news/2012/01/26/10244852-us-sued-over-navy-sonar-t...

Environmental groups sued the Obama administration ... for granting the Navy permits to test underwater sonar along the West Coast -- and potentially harass up to 650,000 porpoises, seals, dolphins and whales over a five-year period. The alliance said it wasn't seeking to stop the testing but to scale it back, especially at certain times and in waters important for feeding and giving birth. Several studies have found that marine mammals can hear low-frequency sonar, which is magnified under water, and periodically dolphins and even whales have been found with perforated ear drums. The National Marine Fisheries Service "fell down on the job and failed to require the Navy to take reasonable and effective actions to protect" marine mammals, Steve Mashuda, an attorney for the law firm Earthjustice, said. The lawsuit ... claims that the Navy's sonar use might be strong enough to kill the animals outright. But even if it doesn't, it claims, the repeated use of sonar in certain critical habitats is unwarranted. In 2010, the fisheries service approved the Navy's five-year plan for operations in the Northwest Training Range Complex, an area roughly the size of California that stretches from Washington state to Northern California. Under the five-year plan, the service said it was acceptable for the Navy to incur up to 650,000 cases of harassment of marine mammals.

Note: Sonar can drive drive marine mammals insane with the intensity of noise. Imagine a huge siren right next to your ears. You would certainly flee to try to get away. This is likely what is causing many of the whale and dolphin strandings. How much sound does it take to perforate an ear drum, as is mentioned in this article? For more on threats to marine mammals, see the deeply revealing reports from reliable major media sources available here.


Killer Cars? Auto Computer Systems Open to Malfunction, Hackers
2012-01-25, U.S. News & World Report
http://www.usnews.com/news/articles/2012/01/25/killer-cars-auto-computer-syst...

As auto manufacturers imagine a future of self-driving and always-connected cars, they'll need to worry about something else—electronic malfunctions and cyberattacks, according to a report released by the Transportation Research Board. "Automobiles today are literally 'computers on wheels,'" says the report. Current auto software uses more than a million lines of code. In the coming years, onboard computers will become even more important. Like a computer, a car's internal software can be infected with a virus or hacked. Last year, researchers at the University of Washington and the University of California, San Diego, proved that computers could be hacked with either physical access to the car or wirelessly using technology such as Bluetooth. A hacker could then disable the brakes, stop the engine, or worse. According to the report, "automotive manufacturers have designed their networks without giving sufficient attention to such cybersecurity vulnerabilities because automobiles have not faced adversarial pressures."

Note: A New York Times article goes into more detail. The article doesn't mention the obvious possibility that the FBI, NSA, or other intelligence agencies could hack into any car's computer system and cause an accident. There is even a term, "Boston Brakes," for staged car wrecks, allegedly because the CIA first started experimenting with this in Boston. For an article delving into this, click here. Could this be what happened to courageous reporter Michael Hastings and others? For more on intelligence agency corruption, see the deeply revealing reports from reliable major media sources available here.


Iraqi Town Says Justice Failed Victims of US Raid
2012-01-25, ABC News/Associated Press
http://abcnews.go.com/International/wireStory/iraqi-town-justice-failed-victi...

In this town which saw 24 unarmed civilians die in a U.S. raid seven years ago, residents expressed disbelief and sadness that the Marine sergeant who told his troops to "shoot first, ask questions later" reached a deal with prosecutors to avoid jail time. They were outraged both at the American military justice system and at the refusal of Iraq's Shiite-led government to condemn the killings and at least try to bring those responsible to face trial in this country. "We are deeply disappointed by this unfair deal," said Khalid Salman Rasif, an Anbar provincial council member from Haditha. "The U.S. soldier will receive a punishment that is suitable for a traffic violation." The raid took place on Nov. 19, 2005. U.S. military prosecutors worked for more than six years to bring Marine Staff Sgt. Frank Wuterich to trial on manslaughter charges that could have sent him away to prison for life. [Then] they offered Wuterich a deal that stopped the proceedings and meant no jail time for the squad leader who ordered his men to "shoot first, ask questions later," resulting in one of the Iraq War's worst attacks on civilians by U.S. troops. The 31-year-old Marine, who was originally accused of unpremeditated murder, pleaded guilty Monday to negligent dereliction of duty for leading the squad that killed 24 unarmed Iraqi civilians during raids after a roadside bomb exploded, killing a fellow Marine and wounding two others.

Note: For earlier reports from reliable sources on the Haditha and other massacres carried out by the US military in Iraq and Afghanistan, click here.


Method for Enhancement of Surface Plasmon Polaritons to Initiate & Sustain LENR (Cold Fusion)
2012-01-16, NASA Website's Technology Gateway
http://technologygateway.nasa.gov/media/CC/lenr/lenr.html

[Video transcript] Narrator: While the world is drastically dependent on fossil fuel, researchers at NASA Langley Research Center are working on another way of producing energy-efficient nuclear power. Senior Resarch Scientist Dr Zawodny: This other form of nuclear power releases energy by adding neutrons. Eventually [the nuclei] gain a sufficient number of neutrons that they spontaneously decay into something of the same mass but a different element. It has the demonstrated ability to produce excess amounts of energy, cleanly, without hazardous ionizing radiation, without producing nasty waste. Narrator: This clean form of energy is ... able to support everything from transportation systems to infrastructure. Dr. Zawodny: The easiest implementation of this would be for the home. It would be ... dual use. It would [produce] heat; and you’d derive electricity from it to run your electronics, power the house, power the building, power the light industry. And then the waste heat would be used for environmental control [i.e. heating, air conditioning, etc.] and warm water.” Narrator: NASA’s method for enhancement of surface plasmon polaritons to initiate and sustain LENR in Metal Hydride Systems, a clean nuclear energy for your power-operated technology.

Note: LENR stands for Low Energy Nuclear Reactions, aka cold fusion. So NASA is now acknowledging cold fusion is real! And their research provides major hope for the future. To see Dr. Zawodny's patent for this revolutionary technology, click here. For more on NASA's involvement in this, click here. For lots more reliable information on the suppression of cold fusion/LENR by the media and the scientific mainstream, click here. For more inspiring news on amazing new energy inventions, click here.


I believe in Tim Tebow
2012-01-13, ESPN
http://espn.go.com/espn/story/_/id/7455943/believing-tim-tebow

I've come to believe in [NFL star] Tim Tebow for what he does off a football field, which is represent the best parts of us, the parts I want to be and so rarely am. Who among us is this selfless? Every week, Tebow picks out someone who is suffering, or who is dying, or who is injured. He flies these people and their families to the Broncos game, rents them a car, puts them up in a nice hotel, buys them dinner (usually at a Dave & Buster's), gets them and their families pregame passes, visits with them just before kickoff (!), gets them 30-yard-line tickets down low, visits with them after the game (sometimes for an hour), has them walk him to his car, and sends them off with a basket of gifts. Home or road, win or lose, hero or goat. This whole thing makes no football sense, of course. Most NFL players hardly talk to teammates before a game, much less visit with the sick and dying. Isn't that a huge distraction? "Just the opposite," Tebow says. "It's by far the best thing I do to get myself ready. Here you are, about to play a game that the world says is the most important thing in the world. Win and they praise you. Lose and they crush you. And here I have a chance to talk to the coolest, most courageous people. It puts it all into perspective. The game doesn't really matter. I mean, I'll give 100 percent of my heart to win it, but in the end, the thing I most want to do is not win championships or make a lot of money, it's to invest in people's lives, to make a difference."


FBI tracking videotapers as terrorists?
2011-12-29, Los Angeles Times
http://www.latimes.com/news/local/environment/la-me-gs-fbi-tracking-animal-vi...

The FBI’s Joint Terrorism Task Force has recommended for many years that animal activists who carry out undercover investigations on farms could be prosecuted as domestic terrorists. New documents obtained through a Freedom of Information Act request by activist Ryan Shapiro show the FBI advising that activists – including Shapiro – who walked onto a farm, videotaped animals there and “rescued” an animal had violated terrorism statutes. The documents ... were issued by the Joint Terrorism Task Force in 2003 in response to an article in an animal rights publication in which Shapiro and two other activists (whose names were redacted from the document), openly claimed responsibility for shooting video and taking animals from a farm. The FBI notes discuss the videotaping, illegal entry and the removal of animals, then concludes with “there is a reasonable indication that [Subject 1] and other members of the [redacted] have violated the Animal Enterprise Terrorism Act, 18 USC Section 43 (a).” The penalties for such a conviction can include terrorism enhancements which can add decades to a sentence. “It’s simply outrageous to consider civil disobedience as terrorism,” Shapiro [said]. “Civil disobedience is not terrorism. It has a long and proud place in our nation’s history, from Martin Luther King to Occupy Wall Street, and the [Animal Enterprise Terrorism Act] takes that kind of advocacy that we celebrate from the civil rights movement and turns it into a terrorist event.”

Note: As the Animal Enterprise Terrorism Act shows, the animal experimentation lobby has demonstrated its considerable clout by getting Congress to pass legislation making principled demonstrations against animal torture and killing into a form of "terrorism". Do you think that Wall Street might lobby for a similar law making "terrorists" out of Occupiers?


Alarm as Dutch lab creates highly contagious killer flu
2011-12-20, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/news/science/alarm-as-dutch-lab-creates-highly-c...

A deadly strain of bird flu with the potential to infect and kill millions of people has been created in a laboratory by European scientists – who now want to publish full details of how they did it. Some scientists are questioning whether the research should ever have been undertaken in a university laboratory, instead of at a military facility. For the first time the researchers have been able to mutate the H5N1 strain of avian influenza so that it can be transmitted easily through the air in coughs and sneezes. Until now, it was thought that H5N1 bird flu could only be transmitted between humans via very close physical contact. Dutch scientists carried out the controversial research to discover how easy it was to genetically mutate H5N1 into a highly infectious "airborne" strain of human flu. They believe that the knowledge gained will be vital for the development of new vaccines and drugs. But critics say the scientists have endangered the world by creating a highly dangerous form of flu which could escape from the laboratory. The H5N1 strain of avian influenza has killed hundreds of millions of birds since it first appeared in 1996, but has so far infected only about 600 people who came into direct contact with infected poultry. What makes H5N1 so dangerous, though, is that it has killed about 60 per cent of those it has infected, making it one of the most lethal known forms of influenza in modern history – a deadliness moderated only by its inability (so far) to spread easily through airborne water droplets.

Note: For key major media reports revealing manipulation around both the avian and swine flus, click here. For solid evidence that Lyme disease originated in a secret government germ laboratory, click here.


Wall Street shenanigans fuel public distrust
2011-12-18, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/12/17/IN5N1MBT60.DTL

Wall Street is its own worst enemy. It's busily shredding new regulations and making the public more distrustful than ever. The Street's biggest lobbying groups have just filed a lawsuit against the Commodities Futures Trading Commission, seeking to overturn its new rule limiting speculative trading in food, oil and other commodities. The Street makes bundles from these bets, but they have raised costs for consumers. In other words, a small portion of what you and I pay for food and energy has been going into the pockets of Wall Street. Just another redistribution from the middle class and the poor to the top. The Street argues that the commission's cost-benefit analysis wasn't adequate. Putting the question into the laps of federal judges gives the Street a huge tactical advantage because the Street has almost an infinite amount of money to hire so-called "experts" who will say benefits have been exaggerated and costs underestimated. But when it comes to regulating Wall Street, one big cost doesn't make it into any individual weighing: the public's mounting distrust of the entire economic system, generated by the Street's repeated abuse of the public's trust. Wall Street's shenanigans have convinced a large portion of America that the economic game is rigged. Wall Street has blanketed America in a miasma of cynicism.

Note: The author of this analysis, Robert Reich, is a former U.S. secretary of labor, is 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.


Derivatives industry eyes UK Lehman appeal ruling
2011-12-14, Reuters News Agency
http://www.reuters.com/article/2011/12/14/britain-derivatives-idUSL6E7NE1YQ20...

Regulators and the world's $700 trillion derivatives industry are closely watching a legal battle that began in Britain ... and which will fuel a sea change in swaps payouts. Four cases, including one involving a unit of collapsed U.S. bank Lehman Brothers, are being presented in a five-day hearing at the UK Court of Appeal. All revolve around payouts under the derivatives industry's "master agreement", a framework contract. A bank that trades swaps with another bank typically has one master agreement which sets the terms for millions of transactions between them. The master agreement ... covers around 90 percent of off-exchange derivatives transactions. Under the agreement, Lehman's bankruptcy is considered a default. However, in the four cases before the court this week, the other party in the contracts elected not to terminate them because they would have had to pay out to the defunct bank.

Note: Like most reporting in the major media, this article trivializes the massive size of the derivatives market. $700 trillion is equivalent to $100,000 for every man, woman, and child in the world! Do you think the financial industry is out of control? For lots more powerful, reliable information on major banking manipulations, click here. For a powerful analysis of just how crazy things have gotten and with some rays of hope by researcher David Wilcock, click here.


What price the new democracy? Goldman Sachs conquers Europe
2011-11-18, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/news/business/analysis-and-features/what-price-t...

The ascension of Mario Monti to the Italian prime ministership is remarkable for more reasons than it is possible to count. By imposing rule by unelected technocrats, [Italy] has suspended the normal rules of democracy, and maybe democracy itself. And by putting a senior adviser at Goldman Sachs in charge of a Western nation, it has taken to new heights the political power of an investment bank that you might have thought was prohibitively politically toxic. The European Central Bank ... is under ex-Goldman management, and the investment bank's alumni hold sway in the corridors of power in almost every European nation, as they have done in the US throughout the financial crisis. Even before the upheaval in Italy, there was no sign of Goldman Sachs living down its nickname as "the Vampire Squid", and now that its tentacles reach to the top of the eurozone, sceptical voices are raising questions over its influence. Simon Johnson, the former International Monetary Fund economist, in his book 13 Bankers: The Wall Street Takeover and the Next Financial Meltdown, argued that Goldman Sachs and the other large banks had become so close to government in the run-up to the financial crisis that the US was effectively an oligarchy. At least European politicians aren't "bought and paid for" by corporations, as in the US, he says. "Instead what you have in Europe is a shared world-view among the policy elite and the bankers, a shared set of goals and mutual reinforcement of illusions." This is The Goldman Sachs Project. Put simply, it is to hug governments close.

Note: For revealing major media articles on key secret societies which manipulate global politics, click here. For deeply revealing reports from reliable major media sources on financial corruption, click here.


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