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.
If the government stays on the course it's been on for the past forty years without a radical change, the federal government will soon have a $10 trillion budget. In other words, the federal budget deficit will be $1.4 trillion. Just to make the size more visible, that's $1,400 billion. Our colleague Rob Arnott ... wrote in his recent report that "at all levels, federal, state, local and GSEs, the total public debt is now at 141% of GDP. That puts the United States in some elite company--only Japan, Lebanon and Zimbabwe are higher. That's only the start. Add household debt (highest in the world at 99% of GDP) and corporate debt (highest in the world at 317% of GDP, not even counting off-balance-sheet swaps and derivatives) and our total debt is 557% of GDP. Less than three years ago our total indebtedness crossed 500% of GDP for the first time."
Note: For many revealing reports from major media sources on the realities of the government-financed bank bailouts, click here.
Palestinian security agents who have been detaining and allegedly torturing supporters of the Islamist organisation Hamas in the West Bank have been working closely with the CIA, the Guardian has learned. Less than a year after Barack Obama signed an executive order that prohibited torture and provided for the lawful interrogation of detainees in US custody, evidence is emerging the CIA is co-operating with security agents whose continuing use of torture has been widely documented by human rights groups. The relationship between the CIA and the two Palestinian agencies involved – Preventive Security Organisation (PSO) and General Intelligence Service (GI) – is said by some western diplomats and other officials in the region to be so close that the American agency appears to be supervising the Palestinians' work. One senior western official said: "The [Central Intelligence] Agency consider them as their property, those two Palestinian services." A diplomatic source added that US influence over the agencies was so great they could be considered "an advanced arm of the war on terror". Among the human rights organisations that have documented or complained about the mistreatment of detainees held by the PA in the West Bank are Amnesty International, Human Rights Watch, al-Haq and the Israeli watchdog B'Tselem.
Note: For many accounts from major media sources of the horrific abuses committed by military, intelligence and security forces in the wars of occupation in Palestine, Iraq and Afghanistan, click here.
Drugs money worth billions of dollars kept the financial system afloat at the height of the global crisis, the United Nations' drugs and crime tsar has told the Observer. Antonio Maria Costa, head of the UN Office on Drugs and Crime, said he has seen evidence that the proceeds of organised crime were "the only liquid investment capital" available to some banks on the brink of collapse last year. He said that a majority of the $352bn (Ł216bn) of drugs profits was absorbed into the economic system as a result. This will raise questions about crime's influence on the economic system at times of crisis. It will also prompt further examination of the banking sector as world leaders, including Barack Obama and Gordon Brown, call for new International Monetary Fund regulations. Speaking from his office in Vienna, Costa said evidence that illegal money was being absorbed into the financial system was first drawn to his attention by intelligence agencies and prosecutors around 18 months ago. "In many instances, the money from drugs was the only liquid investment capital. In the second half of 2008, liquidity was the banking system's main problem and hence liquid capital became an important factor," he said. Some of the evidence put before his office indicated that gang money was used to save some banks from collapse when lending seized up, he said. "Inter-bank loans were funded by money that originated from the drugs trade and other illegal activities... There were signs that some banks were rescued that way."
Note: For many revealing reports from major media sources on the hidden realities behind the global financial crisis, click here.
The controversy surrounding Adolf Hitler's skull fragments is a little embarrassing for the Russian secret services. In 2000 they presented a skull fragment and a piece of jawbone that they claimed were the remains of the Nazi leader. It was an attempt to quash outlandish rumors that he had escaped alive at the end of World War II. But in October US researchers presented the results of DNA tests on the skull and said it definitely didn't belong to the dictator because it was from a female. Scientists had already harbored doubts about the authenticity of the piece of bone because it was thinner than a male's usually is. "The bone seemed very thin -- male bone tends to be more robust. It corresponds to a woman between the ages of 20 and 40," said Nick Bellantoni of the University of Connecticut. The position of the exit wound at the back of the skull also made scientists suspicious because eyewitnesses said Hitler had committed suicide by firing into his right temple. Bellantoni said he was allowed to work on the skull for an hour. When he flew home from Moscow he had two samples in his luggage: a sample from the skull fragment and one sample of blood from the sofa on which Hitler is said to have shot himself. Bellantoni was able to compare the bloodstains on the blood-stained fabric with photos the Soviets took after they seized Hitler's bunker in Berlin. The stains had matched those in the photos. The research showed that the sofa blood DNA did not match the skull DNA. The sofa blood was male and the skull belonged to a woman, claimed Bellantoni.
Note: For more on the mysteries surrounding the end of Hitler's life, click here.
Jesse Ventura is back for another stab at TV stardom, this time hosting a program that digs into conspiracy theories, including alternate views of what was behind the attacks of Sept. 11, 2001, and the purpose of a sprawling research center in remote Alaska. The former Minnesota governor, professional wrestler and Navy SEAL stars in "Conspiracy Theory With Jesse Ventura," ... on truTV. The cable network, part of Turner Broadcasting System Inc., has ordered seven episodes of the hourlong weekly series. Marc Juris, executive vide president and general manager of truTV, said Ventura is passionate about the show and brings "knowledge from the inside" of government. "He's not doing this as an act or a gimmick. It's true to his heart. He's really looking for the answers," Juris told the AP. The premiere episode deals with the High Frequency Active Auroral Research Program, or HAARP, a 35-acre compound of 180 antennas near Gakona, Alaska, that is used to study the Earth's ionosphere. Ventura and those he interviews question whether the government is using the site to manipulate the weather or to bombard people with mind-controlling radio waves. Future "Conspiracy Theory" shows explore alleged cover-ups surrounding the Sept. 11 attacks and whether there are real "Manchurian Candidate" assassins who are programmed to kill, said Juris.
Note: Ventura was also a Navy Seal, where he personally was involved in top secret activities and learned how what is presented to the public is very different from the deeper realities. Don't miss the highly educational episode on the vitally important topic of HAARP by clicking here. And watch the excellent episode on 9/11 by clicking here. You'll be surprised by the new angles presented.
U.S. lenders saw loans fall by the largest amount since the government began tracking such data, suggesting that nervousness among banks continues to hamper economic recovery. Total loan balances fell by $210.4 billion, or 3%, in the third quarter, the biggest decline since data collection began in 1984, according to a report released ... by the Federal Deposit Insurance Corp. The FDIC also said its fund to backstop deposits fell into negative territory for just the second time in its history, pushed down by a wave of bank failures. The decline in total loans showed how banks remain reluctant to lend, despite the hundreds of billions of dollars the government has spent to prop up ailing banks and jump-start lending. The issue has taken on greater urgency with the U.S. unemployment rate hitting 10.2% in October. "There is no question that credit availability is an important issue for the economic recovery," FDIC Chairman Sheila Bair told reporters Tuesday. "We need to see banks making more loans to their business customers." She said large banks -- which account for 56% of industry assets and received a large share of the government's bailout funds -- accounted for 75% of the decline.
Note: The big banks were given trillions in bailout funds with a mandate to increase loans and stimulate the economy. Why are they still giving out so few loans? Where did the huge amounts of our taxpayer money go? Why isn't the government demanding accountability with such huge sums of taxpayer money? For lots more on major manipulations by the big bankers, click here.
Any time anyone tells you that a dream is impossible, any time you're discouraged by impossible challenges, just mutter this mantra: Tererai Trent. Of all the people earning university degrees this year, perhaps the most remarkable story belongs to Tererai, a middle-aged woman. When you hear that foreign-aid groups just squander money or build dependency, remember [her story]. Tererai was born in a village in rural Zimbabwe, probably sometime in 1965, and attended elementary school for less than one year. Her father married her off when she was about 11 to a man who beat her regularly. A dozen years passed. Jo Luck, the head of an aid group called Heifer International, passed through the village and told the women there that they should stand up, nurture dreams, change their lives. Inspired, Tererai ... wrote that she wanted to study abroad, and to earn a B.A., a master's and a doctorate. In 1998 she was accepted to Oklahoma State University. Heifer helped with the plane tickets, Tererai's mother sold a cow, and neighbors sold goats to help raise money. With $4,000 in cash wrapped in a stocking and tied around her waist, Tererai set off for Oklahoma. At one point the university tried to expel Tererai for falling behind on tuition payments. A university official, Ron Beer, intervened on her behalf and rallied the faculty and community behind her with donations and support. "I saw that she had enormous talent," Dr. Beer said. Tererai excelled at school, pursuing a Ph.D at Western Michigan University and writing a dissertation on AIDS prevention in Africa even as she began working for Heifer as a program evaluator.
What really happens behind the padlocked doors of this windowless building, [the home] of Skull and Bones, Yale's oldest secret society? Its members include some of America's most powerful and privileged elite all sworn to secrecy. [CAMPBELL] BROWN: Alexandra Robbins broke through the wall of silence to write Secrets of the Tomb based on clandestine interviews with dozens of bonesmen. Only 15 [Yale students] get picked each year. The society includes at least three U.S. presidents, Supreme Court justices, and too many senators and CEOs to name. In 2004, Bush versus Kerry was the first all-bonesmen presidential election. ALEXANDRA ROBBINS: Skull and Bones' only purpose is to get its members into positions of prominence around the world so that they can elevate other members to similar positions. One of the first activities they participate in is called connubial bliss, where ... each member must spend an evening standing in front of the other 14 bonesmen and recount his or her entire sexual and romantic history. BROWN: According to one ... story, Prescott Bush, George W. Bush's grandfather, was part of a group that broke into the Oklahoma burial place of the Apache chief Geronimo and made off with his skull. Geronimo's grave was disturbed back in 1918, there are photos of skulls inside the "Skull and Bones" tomb. They have their own private retreat. Deer Island off the coast of New York. And a world of ready investors and political contacts in the highest echelons of American society. What has kept the secret society alive for all these years? Good old fashioned networking for the super elite.
Note: To watch the CNN video clip on this Yale secret society, click here. For lots more powerful information on Skull and Bones and other secret societies reported in major media articles, click here.
The deadly trade in cluster bombs is funded by the world's biggest banks who have loaned or arranged finance worth $20bn (Ł12.5bn) to firms producing the controversial weapons, despite growing international efforts to ban them. HSBC, led by ordained Anglican priest Stephen Green, has profited more than any other institution from companies that manufacture cluster bombs. The British bank ... has earned a total of Ł657.3m in fees arranging bonds and share offerings for Textron, which makes cluster munitions described by the US company as "leaving a clean battlefield". HSBC will face protests outside its London headquarters today. Goldman Sachs, Bank of America, JP Morgan and UK-based Barclays Bank are also named among the worst banks in a detailed 126-page report by Dutch and Belgian campaign groups IKV Pax Christi and Netwerk Vlaanderen. Goldman Sachs, the US bank which made Ł3.19bn proft in just three months, earned $588.82m for bank services and lent $250m to Alliant Techsystems and Textron. Last December 90 countries, including the UK, committed themselves to banning cluster bombs by next year. But the US was not one of them. So far 23 countries have ratified the convention. The UK has yet to do so.
Note: For many verifiable revelations of war profiteering by large corporations, click here.
As Germany launched its mass-vaccination program against the H1N1 flu virus on Monday, the government found itself fending off accusations of favoritism because it was offering one vaccine believed to have fewer side effects to civil servants, politicians and soldiers, and another, potentially riskier vaccine to everyone else. The German government prepared for its mass-vaccination campaign earlier this year by ordering 50 million doses of the Pandemrix vaccine. The vaccine, manufactured by GlaxoSmithKline, contains an immunity-enhancing chemical compound, known as an adjuvant, whose side effects are not yet entirely known. The Interior Ministry confirmed that it had ordered a different vaccine, Celvapan, for government officials and the military. Celvapan, which is made by U.S. pharmaceutical giant Baxter, does not contain an adjuvant and is believed to have fewer side effects.
Note: For a revealing article exposing more on this critical issue, click here. Other thoroughly researched articles suggesting a major cover-up around the swine flu vaccine are available here.
Police are gathering the personal details of thousands of activists who attend political meetings and protests, and storing their data on a network of nationwide intelligence databases. The hidden apparatus has been constructed to monitor "domestic extremists". Detailed information about the political activities of campaigners is being stored on a number of overlapping IT systems, even if they have not committed a crime. Senior officers say domestic extremism, a term coined by police that has no legal basis, can include activists suspected of minor public order offences such as peaceful direct action and civil disobedience. Three national police units responsible for combating domestic extremism are run by the "terrorism and allied matters" committee of the Association of Chief Police Officers (Acpo). In total, it receives Ł9m in public funding, from police forces and the Home Office, and employs a staff of 100. The main unit, the National Public Order Intelligence Unit (NPOIU), runs a central database which lists thousands of so-called domestic extremists. It filters intelligence supplied by police forces across England and Wales, which routinely deploy surveillance teams at protests, rallies and public meetings. Vehicles associated with protesters are being tracked via a nationwide system of automatic number plate recognition (ANPR) cameras. Police surveillance units, known as Forward Intelligence Teams (FIT) and Evidence Gatherers, record footage and take photographs of campaigners as they enter and leave openly advertised public meetings. Surveillance officers are provided with "spotter cards" used to identify the faces of target individuals who police believe are at risk of becoming involved in domestic extremism. Targets include high-profile activists regularly seen taking part in protests.
Note: This important article should be read in its entirety. For further revelations of the magnitude of this surveillance and "rebranding protest as extremism " program, click here.
Reinhold Vieth, [a] professor at the University of Toronto’s Department of Laboratory Medicine and Patho-biology, ... is among the most knowledgeable people in the world on the subject of vitamin D. In the US and Canada, official vitamin D policy is set by the Institute of Medicine. And in the opinion of Vieth, the current recommendations – 200 International Units per day for people under 50, 400 for people aged 51-70, and 600 for those 71 and older – are outrageously low. Vieth and other vitamin D advocates have good reason to think there will be minimal changes made to dietary guidelines. Last December, the World Health Organisation’s International Agency for Research on Cancer issued a 465-page report that concluded there was no need to raise vitamin D recommendations. “The evidence favouring vitamin D is probably as good as the evidence that shows smoking is bad for you,” Vieth says, explaining that just as smoking is correlated with certain cancers, so are low vitamin D levels. “But when these government officials see the same kind of evidence that deals with vitamin D as they see with smoking they go, ‘Oh wait a minute. We can’t really trust this.’” Vieth pauses, as though he can barely stand to talk about such a miserable state of affairs. “It’s easy to say ‘don’t do something – don’t smoke’. It’s very hard to say ‘take this. Take vitamin D.’”
Note: For many key reports from reliable sources on important health issues, click here.
Three undercover officers accused of inciting protesters to attack riot police at the 2007 North American leaders summit in Montebello are being summoned to testify before Quebec's independent police ethics committee. The decision from the committee released this week overrules an independent review that exonerated the officers. It also comes more than two years after the black-clad trio were first exposed on YouTube. Dave Coles, the union leader who confronted the men at the time and filed a complaint against the police ... said he suspects an inquiry would find there was political involvement. “This is the big question: Who sent them in?” asked Mr. Coles. “And don't give me some lame excuse that it was a low-level officer.” Video images of the incident posted on YouTube showed three officers disguised as protesters wearing black tops and camouflage pants. Their faces were covered by black and white bandanas. One of them, wearing a sideways ball cap marked with graffiti, held a large stone in his hand. Mr. Coles yelled at them to show their faces and the officer carrying the rock responded with a two-handed shove.
Note: Click on the link above to watch the astonishing YouTube video of this police provocation. This is just one case that happened to be caught on film. Why are undercover police infiltrating activist groups and inciting violence at demonstrations around the world?
LOIS ROMANO: Welcome, Elizabeth Warren, Chairman of the Congressional Oversight Committee that is tasked with scrutinizing how the Treasury Department has spent $700 billion to shore up our failing financial institutions. There's a wonderful moment [in the movie "Capitalism: a Love Story"] when [Michael Moore] asks you where the $700 billion is, and you look at him and you say, "I don't know." So the question is: why don't you know? WARREN: Well, we don't know where the $700 billion is because the system was initially designed to make sure that we didn't know. When Secretary Paulson first put this money out into the banks, he didn't ask "what are you going to do with it?" He didn't put any restrictions on it. He didn't put any tabs on where it was going to go; in other words, he didn't ask. And if you don't ask, no one tells. And so we have a system that originally put more than $200 billion into the financial institutions basically saying just take it. ROMANO: And that money is gone. You have not been able to track where that money is? WARREN: Well, we don't know where the money went from the financial institutions. The big conversation at the time was that the credit markets are frozen; if we put money into the financial institutions, they will start lending it because that's what they do when they receive money. It was called the "Healthy Banks Program." Secretary Paulson kept saying, over and over, these are investments in healthy financial institutions, no one needs any subsidy, that [the] money was going to be used in lending to small businesses and consumers and kind of get our whole credit market going again. That didn't happen.
Note: To watch a powerfully revealing, five-minute video showing the Inspector General of the Federal Reserve testifying that she doesn't know where trillions of dollars are, click here. For a comprehensive overview of the realities underlying the government's bailout of the biggest financial institutions, click here.
A “perplexing” Canadian study linking H1N1 to seasonal flu shots is throwing national influenza plans into disarray and testing public faith in the government agencies responsible for protecting the nation's health. Distributed for peer review last week, the study confounded infectious-disease experts in suggesting that people vaccinated against seasonal flu are twice as likely to catch swine flu. The paper has since convinced several provincial health agencies to announce hasty suspensions of seasonal flu vaccinations, long-held fixtures of public-health planning. “It has confused things very badly,” said Dr. Ethan Rubinstein, head of adult infectious diseases at the University of Manitoba. “And it has certainly cost us credibility from the public because of conflicting recommendations. Until last week, there had always been much encouragement to get the seasonal flu vaccine.” On Sunday Quebec joined Alberta, Saskatchewan, Ontario and Nova Scotia in suspending seasonal flu shots for anyone under 65 years of age. Quebec's Health Ministry announced it would postpone vaccinations until January. B.C. is expected to announce a similar suspension during a press conference Monday morning. Other provinces, including Manitoba, are still pondering a response to the research. Dr. Rubinstein, who has read the study, said it appears sound. “There are a large number of authors, all of them excellent and credible researchers,” he said. “And the sample size is very large – 12 or 13 million people taken from the central reporting systems in three provinces. The research is solid.”
Note: For lots more from reliable sources on the dangers of vaccines, click here.
The scientific integrity of medical research has been clouded in recent years by articles that were drafted by drug company-sponsored ghostwriters and then passed off as the work of independent academic authors. Yet the leading medical journals have continued to rely largely on an honor system of disclosure to detect such potential bias, asking authors to voluntarily report any industry ties or contributors to their manuscripts. But now, in light of recently released evidence that some drug makers have gone to great lengths to turn scientific articles into marketing vehicles for their products, some influential medical editors are cracking down on industry-financed ghostwriting. These editors are demanding that journals impose tougher disclosure policies for academic authors and that the journals enforce their own rules by actively investigating the provenance of manuscripts and by punishing authors who play down extensive contributions by ghostwriters. Calling for a zero tolerance policy, the editors of the medical journal PLoS Medicine, from the Public Library of Science, called for journals to identify and retract ghostwritten articles and banish their authors. “Authors found to have not declared such interest should be banned from any subsequent publication in the journal and their misconduct reported to their institutions.” In the past, researchers have raised allegations of ghostwriting in articles about quality-of-life drugs like antidepressants, painkillers and diet pills. But the situation has become more serious this year after a few editors said they had discovered ghostwriting in manuscripts about life-and-death products like cancer and hematology drugs.”
Note: For background on the prevalence of ghostwriting in major medical journals, click here and here and here.
Murder and manslaughter dropped almost 4 percent last year, as reported crime overall fell around the country, according to new data released ... by the FBI. The 3.9 percent decline in killings reported to police was part of a nationwide drop in violent crime of 1.9 percent from 2007 to 2008. Rapes declined 1.6 percent, to the lowest national number in 20 years -- about 89,000. The statistics are based on crimes reported to police, who then forward the information to the FBI. There were 14,180 murder victims in the United States last year. ''What has been impressive has been how flat all the violent crime rates have been since 2000. To a large degree that's still the case, but the striking change this year has been murder,'' said Alfred Blumstein, a professor of criminal justice at Carnegie-Mellon University. The figures show that crime has come way down since its peak in the early 1990's. ''These are rates we haven't seen since the 1960's, even though the change from year to year has been rather small,'' said Blumstein. Property crimes declined overall, by 0.8 percent, but that was driven mostly by a 12.7 percent drop in car thefts. The other major categories of property crime -- burglaries and larceny-thefts -- both rose. Typically, crime is expected to rise during economic hard times, but Blumstein said last year's data was too early in the economic cycle to reflect that, because the most serious economic impacts came toward the end of 2008, and may not have affected teenagers -- the group most likely to turn to crime as their job prospects dwindle.
Note: What this report completely fails to report is that violent crime is down over 50% since 1994! Why does the major media consistently fail to report this awesome news? For verifiable information on this, click here.
Its superfast, supersecret oil trading software was called the Hammer. And if the Commodity Futures Trading Commission is right, the name fit well with an intricate scheme that allowed commodity traders in Chicago working for Optiver, a little-known company based in Amsterdam, to put their orders first in line and subtly manipulate the price of oil to the company’s advantage. Transcripts and taped conversations of actions that took place in 2007 ... reveal the secretive workings of high-frequency trading, a fast-growing Wall Street business. Critics say this high-speed form of computerized trading, which is used in a wide range of financial markets, enables its practitioners to profit at other investors’ expense. Traders in the Chicago office of Optiver openly talked among themselves of “whacking” and “bullying up” the price of oil. But when called to account by officials of the New York Mercantile Exchange, they described their actions as just “providing liquidity.” In July 2008, the commission charged Optiver with manipulating the price of oil; negotiations over a settlement continue. The Securities and Exchange Commission has opened up an investigation into high-speed-trading practices, in particular the ability of some of the most powerful computers to jump to the head of the trading queue and — in a fraction of a millisecond — capture the evanescent trading spread before the rest of the market does.
Note: This and other reports likely show only the tip of the iceberg of how prices of key stocks and commodities are manipulated. For a great collection of reports from major media sources on the schemes and tricks used by financial corporations, click here.
The secret overseas "black sites" where the CIA conducted the interrogations are empty now, if not already dismantled. They were never examined by a congressional committee, nor inspected by the international Red Cross. The black sites not only imprisoned men but reduced them to a near helpless state. The aim, as outlined in one document, was to teach every detainee "to perceive and value his personal welfare, comfort and immediate needs more than the information he is protecting." The prisoners' arrival -- almost always in diapers -- was engineered to achieve that end. After being shaved, stripped and photographed nude, detainees were examined by CIA medical and psychological personnel. Then came a preliminary interrogation that would determine the prisoners' fate. Only those considered extremely cooperative would avoid a trio of techniques designed to produce a "baseline, dependent" state: the deprivation of clothes, solid food and sleep. Follow-up sessions would start with the prisoner standing with his back against a wall and a towel or collar to prevent whiplash wrapped around his neck. He could be thrown against the wall just once "to make a point, or 20 to 30 times consecutively." Prisoners so abhorred the repeated slamming that they would remain in so-called stress positions, such as painful kneeling postures, for hours to avoid a return to the wall, according to one Dec. 30, 2004, memo that amounts to a CIA blueprint for breaking a detainee's will. Earlier this year, the Obama administration released a series of Justice Department memos laying out legal rationales for the array of coercive interrogation methods the CIA employed.
Note: For further revelations from major media sources on the illegal methods used by the US government in its wars around the world, click here.
As head of the Commodity Futures Trading Commission [CFTC], Brooksley Born became alarmed by the lack of oversight of the secretive, multitrillion-dollar over-the-counter derivatives market. Her attempts to regulate derivatives ran into fierce resistance from then-Fed Chairman Alan Greenspan, then-Treasury Secretary Robert Rubin and then-Deputy Treasury Secretary Larry Summers, who prevailed upon Congress to stop Born and limit future regulation. PBS: Let's start with September 2008 as we all sat there and watched the economy melting down. Born: It was like my worst nightmare coming true. I had had enormous concerns about the over-the-counter derivatives [OTC] market ... for a number of years. The market was totally opaque. Nobody really knew what was going on. And then it became obvious as Lehman Brothers failed, as AIG suddenly appeared to be on the brink of tremendous defaults and turned out [to have been a major derivatives] dealer. PBS: How did it happen? Born: It happened because there was no oversight of a very, very big, dynamic, growing market. I would never say derivatives should be banned or forbidden. The problem is that they can be extremely misused. Traditionally, government has had to protect the public interest by overseeing the marketplace and keeping the extreme behavior under some check. All other financial markets have some kind of government oversight protecting the public interest. [But] not this one. The over-the-counter derivatives dealers business ... was something like 40 percent of the profits of many of these big banks as recently as a couple of years ago. PBS: We're the losers. Who were the winners? Born: Our largest banks. It was short-term benefit for a few major institutions at the expense of all the people who have lost their jobs, who have lost their retirement savings, who have lost their homes.
Note: Don't miss this entire, astonishing interview with Born, who practiced derivatives law for 20 years before being appointed head of the CFTC. She lays bare the level of deceit, greed, and corruption by both bankers and some of the politicians who protect them.
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.