News ArticlesExcerpts of Key News Articles in Major Media
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.
General Electric, the nation’s largest corporation, had a very good year in 2010. The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States. Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion. That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies. Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress. While General Electric is one of the most skilled at reducing its tax burden, many other companies have become better at this as well.
Note: For key reports from major media sources on corporate and government corruption, click here and here.
Carlos Lam, a Republican activist and Indiana deputy prosecutor, has resigned amid revelations that he sent an email calling for a fake attack on Wisconsin Governor Scott Walker designed to discredit union protesters. Walker, a Republican, was the target of protests for his efforts to roll back many union collective bargaining rights in his state. In a Feb. 19 email uncovered by the Wisconsin Center for Investigative Journalism, Lam apparently told Walker he had a "good opportunity" to win public sympathy with a "'false flag' operation." "If you could employ an associate who pretends to be sympathetic to the unions' cause to physically attack you (or even use a firearm against you), you could discredit the unions," read the email. Lam initially denied having sent the email. He [claimed] he had been shopping for a minivan with his family when it was sent, and suggested his email account had been infiltrated by his political enemies. Lam resigned as deputy prosecutor on Thursday morning, however, reportedly telling his boss he had indeed sent the email. Last month, another Indiana official -- Deputy Attorney General Jeff Cox - lost his job for calling on law enforcement to "use live ammunition" on Wisconsin protesters. Also in February, Walker was the victim of a prank call by a liberal journalist pretending to be billionaire conservative activist David Koch. When the journalist suggested planting people among the protesters to stir up trouble, Walker responded that "we thought about that" but added that he had decided against it.
Note: To learn more about the prevalence of "false flag" operations in politics with links to reliable, verifiable sources, click here. For more on this official's call for a false-flag attack, click here.
A few weeks before the tsunami struck Fukushima’s uranium reactors and shattered public faith in nuclear power, China revealed that it was launching a rival technology to build a safer, cleaner, and ultimately cheaper network of reactors based on thorium. China’s Academy of Sciences said it had chosen a “thorium-based molten salt reactor system”. The liquid fuel idea was pioneered by US physicists at Oak Ridge National Lab in the 1960s. Chinese scientists claim that hazardous waste will be a thousand times less than with uranium. The system is inherently less prone to disaster. “The reactor has an amazing safety feature,” said Kirk Sorensen, a former NASA engineer at Teledyne Brown and a thorium expert. “If it begins to overheat, a little plug melts and the salts drain into a pan. There is no need for computers, or the sort of electrical pumps that were crippled by the tsunami. The reactor saves itself,” he said. US physicists in the late 1940s explored thorium fuel for power. It has a higher neutron yield than uranium, a better fission rating, longer fuel cycles, and does not require the extra cost of isotope separation. The plans were shelved because thorium does not produce plutonium for bombs. As a happy bonus, it can burn up plutonium and toxic waste from old reactors, reducing radio-toxicity and acting as an eco-cleaner.
Note: For a 30-minute documentary on the powerful potential of thorium as an energy source, click here. For many reports from reliable sources on promising new energy technologies, click here.
In the past six months, the value of [silver] has increased nearly 80 percent, to more than $34 an ounce. [This] is reminiscent of ... the Hunt Brothers. When the Hunts started buying silver in 1973, the price of the metal was $1.95 an ounce. By early 1980, the brothers had driven the price up to $54 an ounce before the Federal Reserve intervened, changed the rules on speculative silver investments and the price plunged. When JPMorgan Chase bought Bear Stearns in March 2008, it inherited Bear Stearns’ large bet that the price of silver would fall. The international bank HSBC got into the market heavily on the bear side as well. These actions “artificially depressed the price of silver dramatically downward,” according to a class-action lawsuit ... filed against both banks in November. “The conspiracy and scheme was enormously successful, netting the defendants substantial illegal profits” in the billions of dollars between June 2008 and March 2010, according to the suit. In November 2009, [Andrew Maguire] ... a former employee of Goldman Sachs and a 40-year industry veteran, [related] tales of how the silver traders at JPMorgan were bragging about all the money they were making “as a result of the manipulation,” which entailed “flooding the market” with “short positions” every time the price of silver started to creep upward. In March 2010, Maguire released his e-mails publicly. Then came the cloak and dagger element: [On March 26th] Maguire was involved in a bizarre car accident in London. The Commodity Futures Trading Commission’s investigation is still unresolved, and at least one commissioner — Bart Chilton — after interviewing more than 32 people and reviewing more than 40,000 documents, [says] there has been enough investigating and not enough prosecuting. Chilton said ... that “one participant” in the silver market still controlled 35 percent of the silver market.
Note: Gold and silver have been intensely manipulated for many years. The price of gold has risen 500% in the last 10 years, while silver prices have rocketed 700% in the last eight years. Yet the media consistently underreports this amazing news. Few media gave more than a passing mention to gold passing the $1,000 mark in 2008, which was a historic event. Read the full article to understand this important topic. For lots more quality information on this from a former US assistant secretary for HUD, click here.
"Forgive me," said Berkeley filmmaker Charles Ferguson upon receiving an Academy Award on Sunday night for his documentary "Inside Job." "I must start by pointing out that three years after a horrific financial crisis caused by fraud, not a single financial executive has gone to jail - and that's wrong." A number of people would agree, including a majority of Americans, according to opinion polls, who blame U.S. banks and other private institutions for the 2007-08 financial meltdown documented in Ferguson's film. "He raised exactly the right question," said William Black, a senior regulator at the former Federal Savings and Loan Insurance Corp., which helped clean up the far less costly S&L crisis of the late 1980s and early 1990s. More than 1,800 S&L officials were convicted of felonies in its aftermath, with more than 1,000 jailed. But the difference between then and now - and with the 1929 crash, which saw a number of bankers go to jail - is open to much debate. "We had well over 10,000 criminal referrals from regulators in the S&L crisis," said Black, now an associate professor of economics and law at the University of Missouri-Kansas City School of Law. "This time, zero."
Note: For other major media articles revealing the vast extent of unmitigated corruption related to the banking bailouts, click here. For reliable, eye-opening information on how the public is continually deceived about banking, click here. And for an excellent study guide on the facts presented in this revealing film, click here.
More than four decades after Sen. Robert F. Kennedy was assassinated, his convicted murderer wants to go free for a crime he says he can't remember. It's been this way almost from the beginning. Hypnotists and psychologists, lawyers and investigators have tried to jog his memory with no useful result. "There is no doubt he does not remember the critical events," said William F. Pepper, the attorney who will argue for Sirhan's parole. "He is not feigning it. He does not remember it." Pepper, a New York-based lawyer who also is a British barrister, is the latest advocate of a second gunman theory. Believers claim 13 shots were fired while Sirhan's gun held only eight bullets and that the fatal shot appeared to come from behind Kennedy while Sirhan faced him. Pepper also suggests Sirhan was "hypno-programmed," turning him into a virtual "Manchurian Candidate." Pepper said ... that he has had Sirhan examined several times by psychologist Daniel Brown of Harvard University, an expert in hypnosis of trauma victims. "There have been substantial breakthroughs. It was very clear to me that this guy did not kill Bob Kennedy," said Pepper. The lawyer notes that he has a personal tie to Kennedy, having been chairman of his citizens' committee when he ran for Senate in 1964. Pepper also represented James Earl Ray, through 10 years of appeals and a civil trial which he said proved that Ray was not King's killer. By then Ray was dead. By all accounts, Sirhan has been a model prisoner. Sirhan is a Christian and had no ties to terrorist groups.
Note: Few people know about the US civil trial in 1999 in Memphis where a jury took only one hour to rule that elements within government were guilty of conspiring to shoot Dr. Martin Luther King. For an astounding six-minute news clip on this little reported trial, click here. For summaries of many other major media articles suggesting a cover-up around the assassinations of JFK, RFK, and MLK, click here.
Questions about the safety of a popular herbicide made by Monsanto Co have resurfaced in a warning from a U.S. scientist that claims top-selling Roundup may contribute to plant disease and health problems for farm animals. Plant pathologist and retired Purdue University professor Don Huber has written a letter to U.S. Agriculture Secretary Tom Vilsack warning that a newly discovered and widespread "electron microscopic pathogen appears to significantly impact the health of plants, animals, and probably human beings." Huber coordinates a committee of the American Phytopathological Society as part of the USDA National Plant Disease Recovery System. Huber said the organism has been found in high concentrations of Roundup Ready soybean meal and corn, which are used in livestock feed. He said laboratory tests have confirmed the presence of the organism in pigs, cattle and other livestock that have experienced spontaneous abortions and infertility. The organism is also prolific in corn and soybean crops stricken by disease, according to Huber. "It should be treated as an emergency." He requested USDA participation in an investigation, and he urged a moratorium on approvals of Roundup Ready crops. USDA officials declined to comment about the letter's contents. Roundup has long been a draw for critics, who say the herbicide promotes widespread weed resistance, or "super weeds." "While the evidence is considered preliminary, the potential damage to humans and animals is severe," said Jeffrey Smith, executive director of the Institute for Responsible Technology. There have been other alarms raised about Roundup, including a report last year from Argentine scientists who claimed that Roundup can contribute to birth defects in frogs and chickens.
Note: This revealing article seems to have disappeared from MSNBC and other websites, yet you can still find it on the Reuters website at this link. For other revealing major media articles showing the clear risks and dangers of genetically modified foods already on our plates, click here. For a vital essay by Jeffrey Smith detailing scientific studies where lab animals died from eating these foods, click here.
The Supreme Court closed the courthouse door ... to parents who want to sue drug makers over claims their children developed autism and other serious health problems from vaccines. The ruling was a stinging defeat for families dissatisfied with how they fared before a special no-fault vaccine court. The court voted 6-2 against the parents of a child who sued the drug maker Wyeth in Pennsylvania state court for the health problems they say their daughter, now 19, suffered from a vaccine she received in infancy. Justice Antonin Scalia, writing for the court, said Congress set up a special vaccine court in 1986 to ... create a system that spares the drug companies the costs of defending against parents' lawsuits. Justices Ruth Bader Ginsburg and Sonia Sotomayor dissented. Nothing in the 1986 law ''remotely suggests that Congress intended such a result,'' Sotomayor wrote, taking issue with Scalia. Scalia's opinion was the latest legal setback for parents who felt they got too little from the vaccine court or failed to collect at all. Such was the case for Robalee and Russell Bruesewitz of Pittsburgh, who filed their lawsuit after the vaccine court rejected their claims for compensation. According to the lawsuit, their daughter, Hannah, was a healthy infant until she received the diphtheria, tetanus and pertussis vaccine in April 1992. Within hours of getting the DPT shot, the third in a series of five, the baby suffered a series of debilitating seizures.
Note: Vaccines have been strongly promoted for decades, yet the research supporting many vaccines is amazingly weak. For more powerful information questioning the efficacy of vaccines, click here.
In December 2003, security forces boarded a bus in Macedonia and snatched a German citizen named Khaled el-Masri. For the next five months, el-Masri was a ghost. Only a select group of CIA officers knew he had been whisked to a secret prison for interrogation in Afghanistan. But he was the wrong guy. In the years since the Sept. 11, 2001, terrorist attacks, officers who committed serious mistakes that left people wrongly imprisoned or even dead have received only minor admonishments or no punishment at all. Many officers who made significant missteps are now the senior managers fighting the president's spy wars. The AP investigation of the CIA's actions revealed a disciplinary system that takes years to make decisions, hands down reprimands inconsistently and is viewed inside the agency as prone to favoritism and manipulation. When people are disciplined, the punishment seems to roll downhill, sparing senior managers even when they were directly involved in operations that go awry. Two officers involved in the death of a prisoner in Afghanistan, for instance, received no discipline and have advanced into Middle East leadership positions. Other officers were punished after participating in a mock execution in Poland and playing a role in the death of a prisoner in Iraq. Those officers retired, then rejoined the intelligence community as contractors. Since 9/11, retired CIA officers have published a variety of books opining on what ails the CIA. Their conclusions differ, but they are in nearly unanimous agreement that the system of accountability is broken.
Note: It is great news that the media is now revealing some of the craziness at the CIA, a topic that was almost taboo for the press in the past.
J.P. Morgan Chase & Co. ignored or dismissed warning signs about the Madoff fraud even as it earned hundreds of millions of dollars from its relationship with his firm, according to a lawsuit unsealed [on February 3]. The $6.4 billion lawsuit ... claims that bankers at J.P. Morgan discussed the possibility that Bernard Madoff was operating a Ponzi scheme, worried that a firm of such size was audited by a storefront accountant and called his returns "too good to be true." "While numerous financial institutions enabled Madoff's fraud, JPMC was at the very center of that fraud, and thoroughly complicit in it," according to the 115-page lawsuit, filed under seal in December by Irving Picard, the trustee seeking to recover money for Mr. Madoff's victims. The complaint seeks the return of nearly $1 billion in J.P. Morgan's profits and fees, and $5.4 billion in damages. It goes into great detail about the bank's alleged efforts, starting in about 2006, to make money by offering products tied to Mr. Madoff through investment funds that fed money to him. The lawsuit offers a detailed account of the more than two decade relationship between J.P. Morgan and Mr. Madoff. The lawsuit claims that the bank didn't pay attention to billions of dollars passing through the Madoff firm's main J.P. Morgan account, much of it by hand-written check, or to discrepancies in the account balance and unreported obligations.
Note: For lots more from major media sources on the criminal practices of the biggest financial institutions, click here.
United States taxpayers have funneled more than $60 billion of aid into Egypt since President Hosni Mubarak came to power in 1981, but more than half of the money has been spent supplying weapons to the country’s military. About $34 billion of the aid to Egypt has come in the form of grants that Congress requires Egypt to spend on American military hardware. In recent years the large amount of aid earmarked for the military, and the relatively low sums supporting civilian aid, have attracted scathing criticism from Egyptians, some of whom argue that US aid has gone to entrench a military dictator at the expense of the fledgling democracy activists. During the early turmoil, protesters were the target of tear gas canisters that read "made in the USA," fueling debate about the aid. Last year, Egypt was the fifth-largest recipient of US aid, getting $1.6 billion. Congress ... authorized major aid packages to both [Egypt and Israel in 1979], using an informal formula — not enshrined in the peace treaty — that gave Egypt $2 for every $3 that Israel received. Israel quickly became the largest recipient of US aid, and Egypt the second-largest — rankings that were only recently overtaken by wars in Afghanistan and Iraq, and last year, the disaster in Haiti. The strong interest of US companies could help explain why US military assistance to Egypt has remained at $1.3 billion a year, while its civilian economic assistance has steadily shrunk, from $815 million a decade ago to $250 million requested for 2011. The decline began in 1998, when Israel arranged for a reduction in economic support and an increase military aid. As Israeli’s economic aid shrunk, so too did Egypt’s.
Note: Israel receives about $3 billion a year from the US, yet the population of the country is 8 million. If you do the math, the US is providing the equivalent of nearly $4,000 in aid per year to every man, woman and child in Israel, with $3,000 of that to buy US military hardware. For lots more reliable information on how the military/industrial complex manipulates world politics to support the war machine, click here and here.
"We certainly applaud the efforts of the commission," said White House press secretary Robert Gibbs, referring to the Financial Crisis Inquiry Report. "Frankly, I'm not sure much has changed," said one of commissioners, Byron Georgiou. "The concentration of assets in the nation's 10 biggest banks is bigger now than it was five years ago, from 58 percent in 2006 to 63 percent now." Referring to executives who remain at the head of those banks that almost ran aground, Georgiou said ... "Either they knew and didn't want to tell us, or they really didn't know. Either way, they put their institutions at risk." And have yet to be held accountable. Commissioner Brooksley Born can enjoy a certain sense of vindication. Not only had "over-the-counter derivatives contributed significantly to this crisis," ... but the enactment of legislation in 2000 to ban their regulation "was a key turning point in the march toward the financial crisis." As head of the Commodity Futures Trading Commission in the 1990s, Born was aware of the damage the largely unregulated instruments had already caused. Born suggested some more regulation. [She] was squashed like a bug by Clinton administration heavyweights, including Lawrence Summers and Robert Rubin, [and] Federal Reserve Chairman Alan Greenspan. One of the results: The Commodity Futures Modernization Act of 2000 eliminated government oversight of the OTC market. As the report documents, the use of such derivatives ... helped bring the entire financial system to its knees. Born hasn't seen much change in terms of accountability. One thing the report makes clear ... is just how preposterous were the "Who knew?" and "Who could have predicted?" statements offered up by chief executives and top government officials.
Note: So the 10 biggest banks now control 63% of total U.S. bank assets. The total for these banking assets as of the second quarter of 2010 were calculated at $13.22 trillion. Yet four of these megabanks also control an astounding 95% of the $574 trillion derivatives market, a sum over 40 times the amount of bank assets! Do you think there might be a problem with a derivatives bubble?
A newly revealed 1997 letter from the Vatican warned Ireland's Catholic bishops not to report all suspected child-abuse cases to police — a disclosure that victims groups described as "the smoking gun" needed to show that the Vatican enforced a worldwide culture of cover-up. The letter, obtained by Irish broadcasters RTE and provided to The Associated Press, documents the Vatican's rejection of a 1996 Irish church initiative to begin helping police identify pedophile priests following Ireland's first wave of publicly disclosed lawsuits. Child-abuse activists in Ireland said the 1997 letter should demonstrate, once and for all, that the protection of pedophile priests from criminal investigation was not only sanctioned by Vatican leaders but ordered by them. "The letter is of huge international significance, because it shows that the Vatican's intention is to prevent reporting of abuse to criminal authorities. And if that instruction applied here, it applied everywhere," said Colm O'Gorman, director of the Irish chapter of human rights watchdog Amnesty International. The Vatican does advise bishops worldwide to report crimes to police — in a legally nonbinding lay guide on its Web site. This recourse is omitted from the official legal advice provided by the Congregation for the Doctrine of the Faith and updated last summer. That powerful policymaking body continues to stress the secrecy of canon law.
Note: For many key reports from major media sources on institutional secrecy, click here.
WikiLeaked cables released over the weekend revealed more about the US' role as a global bully. In a 2007 cable from Craig Stapleton, then US Ambassador to France, he encouraged the US government to "reinforce our negotiating position with the EU on agricultural biotechnology by publishing a retaliation list." A list, he added, that "causes some pain across the EU since this is a collective responsibility." The stated reason for their attack was that "Europe is moving backwards not forwards" on GMOs, with "France playing a leading role, along with Austria, Italy and even the [EU] Commission." The Ambassador was concerned that France and others would put a ban on the cultivation of Monsanto's GM corn seeds. According to the cable, the Ambassador ... was also upset about France's draft biotech law that "would make farmers and seed companies legally liable for pollen drift." This concept that the "polluter pays" is a foundational principle of US law - except for GMOs. Offering consumers a choice on GMOs is not on the US government agenda. Stapleton's tone in the letter was insistent. "We should not be prepared to cede on cultivation because of our considerable planting seed business in Europe." He said, "Moving to retaliation will make clear that the current path has real costs to EU interests and could help strengthen European pro-biotech voices."
Note: For lots more showing US commitment to spread frankenfoods, see this article. For more along these lines, see concise summaries of deeply revealing GMO news articles from reliable major media sources.
Enough uncertainty surrounds silver-colored metal dental fillings with mercury that U.S. regulators should add more cautions for dentists and patients, a U.S. advisory panel [has] said. The fillings should be accompanied by warnings about unknown risks for vulnerable people such as children and pregnant women. "There really is no place for mercury in children," Suresh Kotagal, a panelist and neurologist at the Mayo Clinic in Rochester, Minnesota, said of the toxic metal. Mercury has been linked to neurological damage at high exposure levels and makes up about half of a metal filling. While the panel stopped short of urging a ban, it wants the FDA to look at the latest data and reassess its guidance after the agency last year declared the fillings safe. Some European nations have banned amalgam use. Critics told the advisers there was a clear link between mercury fillings and side effects, especially in more vulnerable patients. They should be banned or not implanted unless patients give consent, they said.
Note: Why is mercury still used in most dental fillings, when there is a known risk and other materials are available? Our teeth are not a good place for mercury. Studies have proven that small amounts of mercury are released by these fillings in gases into the mouth, only the toxicity is debated. For more, click here.
After World War II, American counterintelligence recruited former Gestapo officers, SS veterans and Nazi collaborators to an even greater extent than had been previously disclosed and helped many of them avoid prosecution or looked the other way when they escaped, according to thousands of newly declassified documents. With the Soviet Union muscling in on Eastern Europe, settling scores with Germans or German collaborators ... appeared counterproductive, said a government report published Friday by the National Archives. In chilling detail, the report also elaborates on the close working relationship between Nazi leaders and the grand mufti of Jerusalem, Haj Amin al-Husseini, who ... recruited Muslims for the SS, the Nazi Partys elite military command, [and] was allowed to flee after the war to Syria. The report, Hitlers Shadow: Nazi War Criminals, U.S. Intelligence and the Cold War, grew out of an interagency group created by Congress to identify, declassify and release federal records on Nazi war crimes and on Allied efforts to hold war criminals accountable. It is drawn from a sampling of 1,100 C.I.A. files and 1.2 million Army counterintelligence files that were not declassified until ... 2007. Hitlers Shadow adds a further dimension to a separate Justice Department history of American Nazi-hunting operations, which the government has refused to release ... and which concluded that American intelligence officials created a safe haven in the United States for certain other former Nazis.
Note: Following World War Two, more than 1500 Nazi's, including many war criminals, were brought to the US by "Operation Paperclip" and secretly embedded in the US scientific community and intelligence establishment. For more, see concise summaries of deeply revealing news articles about corruption in government and in the intelligence community.
A report to Congress reveals details on how U.S. intelligence officials used and protected some Nazi Gestapo agents after World War II. The report was authored by historians hired by the U.S. National Archives and Records Administration. The report draws from an unprecedented trove of records on clandestine operations that the CIA was persuaded to declassify and from previously inaccessible Army intelligence files. "The CIA records give us a much better picture of the movements of Nazi war criminals in the postwar period. The Army records are voluminous, and will be keeping people busy for many years," said Richard Breitman, of the American University in Washington, D.C., who co-authored the report with Norman J.W. Goda, of the University of Florida. The records were made available under the Nazi War Crimes Disclosure Act of 1998. Nazi hunters and lawmakers have long raised questions about what U.S. government knew and its involvement with war criminals during the Cold War. The Nazi War Crimes Disclosure Act has so far resulted in more than 8 million documents being declassified; a landmark 2005 book on U.S. Intelligence and the Nazis in part authored by Breitman and Goda; and a final report to Congress.
Note: The CIA would never have declassified these documents were it not for pressure from caring citizens which caused Congress to act. For details of the CIA employment of Nazis in its post-war mind-control experimentation on humans without their consent, click here.
Before the sun rose, the informant donned a white Islamic robe. A tiny camera was sewn into a button, and a microphone was buried in a device attached to his keys. The undercover FBI informant - a convicted forger named Craig Monteilh - then drove off for 5 a.m. prayers at the Islamic Center of Irvine, where he says he spied on dozens of worshipers in a quest for potential terrorists. Monteilh's mission as an informant backfired. Muslims were so alarmed by his talk of violent jihad that they obtained a restraining order against him. He had helped build a terrorism-related case against a mosque member, but that also collapsed. The Justice Department recently took the extraordinary step of dropping charges against the worshiper, who Monteilh had caught on tape agreeing to blow up buildings, law enforcement officials said. Prosecutors had portrayed the man as a dire threat. Compounding the damage, Monteilh has gone public, revealing secret FBI methods and charging that his "handlers" trained him to entrap Muslims as he infiltrated their mosques, homes and businesses. He is now suing the FBI. Officials ... confirm that he was a paid FBI informant. Court records and interviews corroborate not only that Monteilh worked for the FBI - he says he made $177,000, tax-free, in 15 months - but that he provided vital information on a number of cases.
Note: For lots more from reliable sources on the long series of fake terror scares used by governments to control their domestic populations by fear, click here.
New disclosures show the Federal Reserve rushed trillions of dollars in emergency aid not just to Wall Street but also to ... foreign-owned banks in 2008 and 2009. The central bank's aid programs also supported U.S. subsidiaries of banks based in East Asia, Europe and Canada. The biggest users of the Fed lending programs were some of the world's largest banks, including Citigroup, Bank of America, Goldman Sachs, Swiss-based UBS and Britain's Barclays, according to more than 21,000 loan records released [December 1] under new financial regulatory legislation. The data reveal banks turning to the Fed for help almost daily in the fall of 2008 as the central bank lowered lending standards and extended relief to all kinds of institutions it had never assisted before. The extent of the lending to major banks - and the generous terms of some of those deals - heighten the political peril for a central bank that is already under the gun for a wide range of actions, including a recent decision to try to stimulate the economy by buying $600 billion in U.S. bonds. "The American people are finally learning the incredible and jaw-dropping details of the Fed's multitrillion-dollar bailout of Wall Street and corporate America," said Sen. Bernard Sanders (I-Vt.), a longtime Fed critic whose provision in the Wall Street regulatory overhaul required the new disclosures. "Perhaps most surprising is the huge sum that went to bail out foreign private banks and corporations." The Fed launched emergency programs totaling $3.3 trillion in aid, a figure reached by adding up the peak amount of lending in each program.
Note: The figure of $3.3 trillion cited in this article was simply the peak amount lent at one moment in time; the total amount lent by the Fed over the years covered by the data exceeded $20 trillion. For analysis of this data release, click here.
The Department of Health is putting the fast food companies McDonald's and KFC and processed food and drink manufacturers such as PepsiCo, Kellogg's, Unilever, Mars and Diageo at the heart of writing government policy on obesity, alcohol and diet-related disease. In an overhaul of public health, said by [critics] to be the equivalent of handing smoking policy over to the tobacco industry, health secretary Andrew Lansley has set up five "responsibility deal" networks with business, co-chaired by ministers, to come up with policies. The groups are dominated by food and alcohol industry members, who have been invited to suggest measures to tackle public health crises. The alcohol responsibility deal network is chaired by the head of the lobby group the Wine and Spirit Trade Association. The food network to tackle diet and health problems includes processed food manufacturers, fast food companies, and Compass, the catering company. The food deal's sub-group on calories is chaired by PepsiCo, owner of Walkers crisps. The leading supermarkets are an equally strong presence. In early meetings, these commercial partners have been invited to draft priorities and identify barriers, such as EU legislation, that they would like removed. They have been assured by Lansley that he wants to explore voluntary not regulatory approaches, and to support them in removing obstacles.
Note: For lots more from reliable sources on corporate and government corruption, click here and here.
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.