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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.


Ban mobile phones and wireless networks in schools, say European leaders
2011-05-14, The Telegraph (One of the UK's leading newspapers)
http://www.telegraph.co.uk/technology/mobile-phones/8514380/Ban-mobile-phones...

Mobile phones and computers with wireless internet connections pose a risk to human health and should be banned from schools, a powerful European body has ruled. A Council of Europe committee examined evidence that the technologies have "potentially harmful" effects on humans, and concluded that immediate action was required to protect children. In a report, the committee said it was crucial to avoid repeating the mistakes made when public health officials were slow to recognise the dangers of asbestos, tobacco smoking and lead in petrol. The report also highlighted the potential health risks of cordless telephones and baby monitors, which rely on similar technology and are widely used. Fears have been raised that electromagnetic radiation emitted by wireless devices can cause cancers and affect the developing brain.

Note: Consider using a wired headset with your cellphone to decrease any cancer risk. For other safety suggestions, click here. For key articles on health issues from reliable sources, click here.


Nuclear meltdown at Fukushima plant
2011-05-12, The Telegraph (One of the UK's leading newspapers)
http://www.telegraph.co.uk/news/worldnews/asia/japan/8509502/Nuclear-meltdown...

One of the reactors at the crippled Fukushima Daiichi power plant did suffer a nuclear meltdown, Japanese officials admitted for the first time today, describing a pool of molten fuel at the bottom of the reactor's containment vessel. Engineers from the Tokyo Electric Power company (Tepco) entered the No.1 reactor at the end of last week for the first time and saw the top five feet or so of the core's 13ft-long fuel rods had been exposed to the air and melted down. Now the company is worried that the molten pool of radioactive fuel may have burned a hole through the bottom of the containment vessel, causing water to leak. Tepco has not clarified what other barriers there are to stop radioactive fuel leaking if the steel containment vessel has been breached. Greenpeace said the situation could escalate rapidly if "the lava melts through the vessel". However, an initial plan to flood the entire reactor core with water to keep its temperature from rising has now been abandoned because it might exacerbate the leak. Tepco said ... that it had sealed a leak of radioactive water from the No.3 reactor after water was reportedly discovered to be flowing into the ocean. A similar leak had discharged radioactive water into the sea in April from the No.2 reactor. Greenpeace said significant amounts of radioactive material had been released into the sea and that samples of seaweed taken from as far as 40 miles of the Fukushima plant had been found to contain radiation well above legal limits.

Note: Why hasn't the Japanese government's admission of the meltdown of nuclear reactors at Fukushima been more widely reported in the press? Are the major media burying this story because of the potential harm it will do to plans for the expansion of the nuclear power industry?


Study: US Quietly Paid Families For Vaccine-Linked Autism Cases
2011-05-11, CBS Los Angeles
http://losangeles.cbslocal.com/2011/05/11/study-us-quietly-paid-families-for-...

Federal health officials may have only recently called autism a “national health emergency”, but a new study released [on May 11] showed the U.S. has been quietly compensating families with autism for nearly two decades. The report from SafeMinds.org — a group that believes scientific evidence has linked autism to vaccinations – alleges that a fund set up by the U.S. government to compensate those injured by vaccines has paid out claims to dozens of families of autistic kids. The study conducted by the Pace Environmental Law Review revealed that since the late 1980s, the National Vaccine Injury Compensation Program (NVICP) has paid money for 83 cases involving autism out of approximately 1,300 cases of vaccine injury that resulted in childhood brain injury. In that same time period, federal officials have maintained that autism — which now affects an estimated one in 110 individuals — is still “rare” and has publicly conceded to only one vaccine-induced autism case involving nine-year-old Hannah Poling. The study’s authors stand behind the findings and warn they are only “the tip of the iceberg.” Currently, there are over 5,000 vaccine court cases pending that claim autism as a result of vaccine injury.

Note: For more information from major media sources on the dangers of vaccines, click here. And for a fascinating study suggesting that vaccines are much less effective than is publicly acknowledged, click here.


Exxon Leads Defense of Oil Tax Breaks Democrats Want to Repeal
2011-05-11, San Francisco Chronicle/Bloomberg
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/05/11/bloomberg1376-LL1...

Exxon Mobil Corp. Chief Executive Officer Rex W. Tillerson and four counterparts defended $21 billion in U.S. tax breaks that Democrats are seeking to recapture to reduce the federal deficit. Senate Democrats are proposing to raise oil and gas taxes by about $2 billion a year for 10 years, arguing that widening deficits are a threat to the economy and sacrifice is required. College students are giving up federal help, and so should the companies, said Senator Charles Schumer, a New York Democrat. "We have to choose priorities and right now we have a huge budget deficit," Schumer said to ConocoPhillips CEO James Mulva. "Do you think that your subsidy is more important than the financial aid that we give to students to go to college?" To build their case, Democrats have cited rising gasoline prices and quarterly earnings reports that put the five companies on pace to generate more than $125 billion in profits this year, which would be a record. The Democrats' proposal would raise about $13 billion by blocking the five largest oil and gas companies from receiving a domestic-manufacturing deduction for exploration and extraction in the U.S. The Senate Democrats' proposal would generate $6.5 billion by curtailing the oil companies' ability to claim tax credits for royalty payments made to foreign governments.

Note: We are paying near-record prices for gas, while the oil companines are making record profits, just as they did when gas prices spiked several years ago. So why are oil companies still getting tax breaks?


Report of bin Laden’s death spurs questions from conspiracy theorists
2011-05-02, Washington Post
http://www.washingtonpost.com/lifestyle/style/report-of-bin-ladens-death-spur...

While much of America celebrated the dramatic killing of Osama bin Laden, the Sept. 11 conspiracy theorists still had questions. For them and a growing number of skeptics, the plot only thickened. Could the public trust bin Laden’s DNA samples? Why was [his body disposed of] in an undisclosed location in the northern Arabian Sea? “This has not put a single of the 9/11 questions to bed,” said Steven Jones, a retired Brigham Young University physics professor and contributor to the 9/11 Truth Movement. “I don’t know how you can have closure, when there are hundreds of contradictions to the stories that you were told. The story doesn’t end here because we are told bin Laden is dead,” said Mike Berger, who works with 911Truth.org, an organization founded to examine facts around the attack. Alex Jones, a radio personality out of Austin, who gives voice to the 9/11 Truth Movement and runs the Web site Infowars.com, sent out a Web headline, “Red Alert. Inside Sources: Bin Laden Corpse Has Been on Ice for Nearly a Decade.” He lists FBI officials and counterintelligence leaders from Iran, Pakistan and Afghanistan who have said for years that bin Laden was dead. Former Council on Foreign Relations member Steve R. Pieczenik even told Jones on the air in 2002 that bin Laden had been dead for months.

Note: For intriguing BBC News reports from 2010 and 2007 which claim bin Laden was already dead at that time, click here and here. WantToKnow team member David Ray Griffin's book establishing the likelihood that Osama bin Laden died in December 2001, Osama bin Laden: Dead or Alive?, is available here.


Osama Bin Laden never charged for 9/11
2011-05-02, International Business Times
http://www.ibtimes.com/articles/140099/20110502/osama-bin-laden-never-charged...

Osama Bin Laden's death is being celebrated, and everyone seems to repeat the old conspiracy theory that he was indeed the mastermind behind the terror attacks of 9/11. But that was never proven, and there is not even evidence hinting at such a connection according to the FBI. Osama Bin Laden was never formally charged, because the U.S. Federal Bureau of Investigation didn't deliver the necessary evidence to the Department of Justice. Read ... what Rex Tomb, FBI Director of Investigative Publicity, stated in 2006 about the FBI's position: “The FBI gathers evidence. Once evidence is gathered, it is turned over to the Department of Justice. The Department of Justice then decides whether it has enough evidence to present to a federal grand jury. In the case of the 1998 United States Embassies being bombed, bin Laden has been formally indicted and charged by a grand jury. He has not been formally indicted and charged in connection with 9/11 because the FBI has no hard evidence connecting bin Laden to 9/11." The connection between Bin Laden and the 9/11 attacks was made by the Bush-Cheney administration, [on] the morning of the attacks, before the first tower even collapsed. Nearly ten years later, after intensive investigation, a government commission, two wars and the interrogation under torture of some 750 people detained in Guantanamo Bay without charges, no hard evidence could be found that would confirm the initial allegation.

Note: The International Business Times is an online global business newspaper, published in thirteen editions in twelve countries across eight languages. It is among the top-ten online business newspapers in the world. WantToKnow team member David Ray Griffin's book establishing the likelihood that Osama bin Laden died in December 2001, Osama bin Laden: Dead or Alive?, is available here.


World's media tricked by fake bin Laden photo
2011-05-02, New Zealand Herald (New Zealand's leading newspaper)
http://www.nzherald.co.nz/world/news/article.cfm?c_id=2&objectid=10723030

An image of Osama bin Laden after his death yesterday has been revealed as a fake. The photo, which shows a bloodied bin Laden with a gun wound to the head, is the photo-shopped combination of two images - one of the al Qaeda founder alive in 1998 and another of an unnamed corpse. The image has reportedly been circulating for two years, but that did not stop the image being picked up by media across the world in the wake of the terrorist's death. Britain's Daily Mail, Times of London, Telegraph, Sun and Daily Mirror ... all used the image of their websites' front pages, the Guardian reported, although they were quickly taken down. Associated Press had placed the image on its wires, but soon retracted the photo as it could not verify its authenticity. The picture appears to have first been published by the Middle East online newspaper themedialine.org on April 29, 2009, although the site's editor then said they could not ascertain whether it was genuine. A US official revealed the body was photographed before being buried at sea, although no images have been released by the Obama administration. It is not clear whether photos of bin Laden's body will be released.

Note: How did this photo become accepted by the media? And why was bin Laden's body buried at sea? Could it be that those involved did not want anyone to be able to investigate whether the body was indeed that of bin Laden? For two BBC reports suggesting that bin Laden may already have been dead, click here and here.


Former Miss USA: I was 'molested' by the TSA
2011-04-29, USA Today
http://travel.usatoday.com/flights/post/2011/04/susie-castillo-dallas-fort-wo...

Weeks after generating an uproar for the aggressive screening of a six-year-old child in New Orleans, the TSA is again facing criticism for an enhanced pat-down. Former Miss USA Susie Castillo says she was "molested" by a TSA screener at Dallas/Fort Worth International Airport after declining to go through a body scanner due to radiation concerns. According to a detailed account from the Dallas Morning News, Castillo wrote "My private area was grazed four times!" on a complaint card after the screening. Castillo immediately shot a tearful video recounting the episode more explicitly and posted it on YouTube. The Boston Herald quotes from the video: "That's why I'm crying, that's why I'm so upset. They're making me choose to either get molested, because that's what I feel like, or go through this machine that's completely unhealthy and dangerous." TSA spokesman Luis Casanova defended the screening procedure. "Everything [the screener] did was according to protocol," Casanova said.

Note: For key articles on increasing reductions of civil liberties by governments, click here.


SF Chronicle video prompts White House threat
2011-04-29, San Francisco Chronicle
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/04/28/MNA51J994T.DTL

The White House threatened [on April 28] to exclude The San Francisco Chronicle from pooled coverage of its events in the Bay Area after the paper posted a video of a protest at a San Francisco fundraiser for President Obama last week, Chronicle Editor Ward Bushee said. White House guidelines governing press coverage of such events are too restrictive, Bushee said, and the newspaper was within its rights to film the protest and post the video. Chronicle senior political reporter Carla Marinucci was invited by the White House to cover the Obama fundraiser on April 21. About 200 donors paying $5,000 to $38,500 each attended the event at the St. Regis Hotel in the city, a day after Obama visited Facebook headquarters in Silicon Valley touting the proliferation of "new media" breaking the confines of traditional journalism. At the St. Regis event, a group of protesters who paid collectively $76,000 to attend the fundraiser interrupted Obama with a song complaining about the administration's treatment of Pfc. Bradley Manning, the soldier who allegedly leaked U.S. classified documents to the WikiLeaks website.

Note: This is an excellent example of how politicians can control the press. Top reporters are under threat of losing their connections to top officials if they report anything negative about them.


Are CFL Light Bulbs Eco-Friendly or Human Hazards?
2011-04-28, Yahoo News
http://news.yahoo.com/cfl-light-bulbs-eco-friendly-human-hazards-205800837.html

Via the Clean Energy Act of 2007, the new "go-green" eco-friendly standards are set to thrust mandatory use of CFLs (compact fluorescent light bulbs) upon American citizens by the year 2013 or 2014. Some reports say the mercury-filled CFLs are harmful to humans. Are CFL bulbs eco-friendly but human hazards? What about the economy of cleaning up the the new bulbs, and the erosion of our American "choices"? Information has circulated that CFLs will be dangerous to humans due to mercury content. It seems to have started with a 2007 claim by a family who was gung-ho to "go green." They installed CFLs in their home but broke one, resulting in various illnesses for a child and a $2,000 clean-up process that could only be done by experts. According to EPA guidelines [in 2007] there were 16 steps to cleaning up a broken, mercury-filled CFL bulb and then cleaning up the cleaning materials used. According to the EPA website today, there are only eight steps. The process appears toned down. The EPA claims that breakage of one bulb is not dangerous to occupants. Clean-up doesn't have to cost $2,000. Energy Star, a division of the EPA, ... acknowledges certain health and environmental hazards, stating "we must be responsible in cleaning up." They offer several sheets of directions, including this: Humans must leave the premises for three hours after removing a broken bulb. Livestrong.com is a leading go-to health and wellness website. Its research about CFLs shows that prolonged exposure to fluorescent lighting causes migraines, eye strain and other eye discomfort.

Note: For a CBS affiliate report confirming these hazards, click here.


U.S. to continue Pakistan strikes despite protests
2011-04-23, San Francisco Chronicle/Los Angeles Times
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2011/04/23/MN921J5V20.DTL

A U.S. missile strike in Pakistan's North Waziristan region killed at least 25 people on [April 22], sending a clear sign that Washington's use of drones against militants along the Afghan border will continue despite rising opposition from Islamabad's top civilian and military leaders. The strike in the village of Spinwam came two days after Adm. Mike Mullen, chairman of the U.S. Joint Chiefs of Staff, held tense talks with Pakistani army chief Gen. Ashfaq Kayani amid a pall of mistrust that has weakened relations between Washington and Islamabad in recent months. Pakistan intensified its criticism of the drone campaign after a March 17 strike killed more than 40 people in the North Waziristan village of Datta Khel. Pakistani military leaders said that missile strike killed civilian tribal elders meeting to discuss a dispute over local mining rights, though the U.S. maintains that the people killed were militants. The Datta Khel strike came a day after the release of Raymond Davis, the CIA contractor whose arrest in connection with the shooting deaths of two Pakistanis brought relations between Washington and Islamabad to one of their lowest points in years. Officials in North Waziristan said [the April 22] strike killed 18 suspected militants, though seven of the dead were civilians - three women and four children. Four missiles were fired, two of which struck a guest house with the suspected militants, the officials said. The other two missiles hit another building where the women and children were.

Note: Imagine if another country were flying unmanned flights in the US and killing US citizens who they suspected were terrorists along with innocent civilians as collateral damage. There would be an uproar. Why isn't anyone talking about the legality of a foreign country killing citizens of another country without any judicial process at all, especially when the government of the invaded country opposes the attacks?


Is that JFK memo to the CIA about UFOs real?
2011-04-21, MSNBC
http://today.msnbc.msn.com/id/42704241/ns/today-today_tech/t/jfk-memo-cia-abo...

A story that combines UFO cover-ups with the assassination of John F. Kennedy is ... just what author William Lester says he uncovered while conducting research for a new book on Kennedy: a memo written by JFK and addressed to the CIA in which the president requests confidential information about UFOs. In the never-before-seen, top secret memo supposedly written on Nov. 12, 1963, the president ordered the CIA director to organize the agency's intelligence files relating to UFOs, and to debrief him on all "unknowns" by the following February. Ten days later, Kennedy was assassinated. Lester, a paranormal researcher and author of the new book A Celebration of Freedom: JFK and the New Frontier ... said he obtained the memo along with two others from the CIA under the Freedom of Information Act. "The government regularly declassifies documents after a certain amount of time goes by, and then you have to file a request for those documents," Lester [said]. "When I was in the process of filing, those letters had just become declassified and released to the public." This happened in 2006 or 2007, Lester said. "At the time, I think other people were getting them too." Some archivists question its authenticity. A research technician at the JFK Library in Boston, who asked not to be named, was unable to find a carbon copy of it in its presidential archive, which holds copies of all of JFK's letters.

Note: Fred made an FOIA request for this document and received response, "the CIA Information Act ... exempts CIA operational files from the search, review, publication, and disclosure requirements of the FOIA." Very interesting. To see the memo and more, click here. For an excellent selection of news article excerpts suggesting a major cover-up of UFOs, click here. For an abundance or resources from reliable sources on UFOs, see our UFO information center available here.


iPhone keeps record of everywhere you go
2011-04-20, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/technology/2011/apr/20/iphone-tracking-prompts-priv...

Security researchers have discovered that Apple's iPhone keeps track of where you go – and saves every detail of it to a secret file on the device which is then copied to the owner's computer when the two are synchronised. The file contains the latitude and longitude of the phone's recorded coordinates along with a timestamp, meaning that anyone who stole the phone or the computer could discover details about the owner's movements using a simple program. For some phones, there could be almost a year's worth of data stored, as the recording of data seems to have started with Apple's iOS 4 update to the phone's operating system, released in June 2010. "Apple has made it possible for almost anybody – a jealous spouse, a private detective – with access to your phone or computer to get detailed information about where you've been," said Pete Warden, one of the researchers. Only the iPhone records the user's location in this way, say Warden and Alasdair Allan, the data scientists who discovered the file and are presenting their findings at the Where 2.0 conference in San Francisco on [April 20]. "Alasdair has looked for similar tracking code in [Google's] Android phones and couldn't find any," said Warden.

Note: For key reports from reliable sources on threats to privacy, click here.


Secret memos expose link between oil firms and invasion of Iraq
2011-04-18, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/news/uk/politics/secret-memos-expose-link-betwee...

Plans to exploit Iraq's oil reserves were discussed by government ministers and the world's largest oil companies the year before Britain took a leading role in invading Iraq, government documents show. The papers ... raise new questions over Britain's involvement in the war, which had divided Tony Blair's cabinet and was voted through only after his claims that Saddam Hussein had weapons of mass destruction. The minutes of a series of meetings between ministers and senior oil executives are at odds with the public denials of self-interest from oil companies and Western governments at the time. In March 2003, just before Britain went to war, Shell denounced reports that it had held talks with Downing Street about Iraqi oil as "highly inaccurate". BP denied that it had any "strategic interest" in Iraq, while Tony Blair described "the oil conspiracy theory" as "the most absurd". But documents from October and November the previous year paint a very different picture. Five months before the March 2003 invasion, Baroness Symons, then the Trade Minister, told BP that the Government believed British energy firms should be given a share of Iraq's enormous oil and gas reserves as a reward for Tony Blair's military commitment to US plans for regime change. The papers show that Lady Symons agreed to lobby the Bush administration on BP's behalf because the oil giant feared it was being "locked out" of deals that Washington was quietly striking with US, French and Russian governments and their energy firms.

Note: The recently completed Chilcot Inquiry found that former UK Prime Minister Tony Blair exaggerated the Iraqi threat and disregarded intelligence which predicted military intervention in Iraq would be disastrous. For more along these lines, see concise summaries of deeply revealing war news articles from reliable major media sources.


Senate panel concludes Goldman Sachs profited from financial crisis
2011-04-14, Los Angeles Times
http://www.latimes.com/business/la-fi-crisis-probe-20110414,0,6709903.story

A Senate panel has concluded that Goldman Sachs Group Inc. profited from the financial crisis by betting billions against the subprime mortgage market, then deceived investors and Congress about the firm's conduct. Some of the findings in the report by the Senate's Permanent Subcommittee on Investigations will be referred to the Justice Department and the Securities and Exchange Commission for possible criminal or civil action, said Sen. Carl Levin (D-Mich.), the panel's chairman. The giant investment bank was just one focus of the subcommittee's probe into Wall Street's role in the financial crisis. The 639-page report — based on internal memos, emails and interviews with employees of financial firms and regulators — casts broad blame, saying the crisis was caused by "conflicts of interest, heedless risk-taking and failures of federal oversight." Among the culprits cited by the panel are Washington Mutual, a major mortgage lender that failed in 2008, as well as the Office of Thrift Supervision, a federal bank regulator, and credit rating firms. Asked if he was disappointed that no Wall Street figures had gone to jail in connection with the crisis, Levin responded, "There's still time."

Note: For many key reports from major media sources illuminating how major financial corporations knowingly brought about the global financial crisis and profited from it, click here.


New engine sends shock waves through auto industry
2011-04-06, MSNBC
http://www.msnbc.msn.com/id/42460541/ns/technology_and_science-innovation

Hybrid vehicles are still tethered to the gas pump via a fuel-thirsty 100-year-old invention: the internal combustion engine. However, researchers at Michigan State University have built a prototype gasoline engine that requires no transmission, crankshaft, pistons, valves, fuel compression, cooling systems or fluids. Their so-called Wave Disk Generator could greatly improve the efficiency of gas-electric hybrid automobiles and potentially decrease auto emissions up to 90 percent when compared with conventional combustion engines. The engine has a rotor that's equipped with wave-like channels that trap and mix oxygen and fuel as the rotor spins. These central inlets are blocked off, building pressure within the chamber, causing a shock wave that ignites the compressed air and fuel to transmit energy. The Wave Disk Generator uses 60 percent of its fuel for propulsion; standard car engines use just 15 percent. As a result, the generator is 3.5 times more fuel efficient than typical combustion engines. Researchers estimate the new model could shave almost 1,000 pounds off a car's weight currently taken up by conventional engine systems. Last week, the prototype was presented to the energy division of the Advanced Research Projects Agency, which is backing the Michigan State University Engine Research Laboratory with $2.5 million in funding. Michigan State's team of engineers hope to have a car-sized 25-kilowatt version of the prototype ready by the end of the year.

Note: For many inspiring new developments on automotive technology, click here.


Marc Gold travels Asia paying it forward through little acts of kindness
2011-04-04, Christian Science Monitor
http://www.csmonitor.com/World/Making-a-difference/2011/0404/Marc-Gold-travel...

Marc Gold spends most of his time on the road. One month he may be in India or Afghanistan; the next he's in Cambodia or Vietnam, both of which he's visited numerous times. But he doesn't travel to see the sights. The retired community-college professor from San Francisco pursues his own brand of tourism: philanthropic travel. "I go where the poor people are," Mr. Gold says. Everywhere he goes, Gold performs acts of kindness, both random and preplanned. He rarely spends more than a few hundred dollars. "For people who live on a dollar or less a day, $50 can make a big difference," says Gold, who has been dubbed "the shoestring philanthropist." [Traveling to India in 1989] led to an epiphany. "I'd thought you had to be rich to do such things," he recalls. "I realized I had the power to help change people's lives." Back home, he asked a hundred friends for small donations and was soon back in India with $2,200. He then set up a nonprofit charity and called it 100 Friends. Two decades later, 100 Friends has some 4,000 members worldwide, and last year Gold raised $200,000. He continues fundraising via his portable office: a laptop, a digital camera, and a cellphone. "This is 80 percent of what I own," Gold says during a stopover in Bangkok, pointing at two duffel bags stuffed with his clothes, dog-eared paperbacks, and his large collection of wacky rubber masks. The latter he uses for clowning around with children from Tibet to Thailand. "I don't need much, and I'm free."

Note: For a great collection of highly inspiring news articles, click here. For a treasure trove of inspiring resources calling us all to our greatness, click here.


How a big US bank laundered billions from Mexico's murderous drug gangs
2011-04-03, The Observer (One of the UK's leading newspapers)
http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs

During a 22-month investigation by agents from the US Drug Enforcement Administration, the Internal Revenue Service and others [beginning in 2006], it emerged [that drug cartels had laundered huge sums of money] through one of the biggest banks in the United States: Wachovia, now part of the giant Wells Fargo. In March 2010, Wachovia settled the biggest action brought under the US bank secrecy act, through the US district court in Miami. Now that the year's "deferred prosecution" has expired, the bank is in effect in the clear. The bank was sanctioned for failing to apply the proper anti-laundering strictures to the transfer of $378.4bn – a sum equivalent to one-third of Mexico's gross national product – into dollar accounts from ... currency exchange houses with which the bank did business. [The case demonstrates] the role of the "legal" banking sector in swilling hundreds of billions of dollars – the blood money from the murderous drug trade in Mexico and other places in the world – around their global operations, now bailed out by the taxpayer. At the height of the 2008 banking crisis, Antonio Maria Costa, then head of the United Nations office on drugs and crime, said he had evidence to suggest the proceeds from drugs and crime were "the only liquid investment capital" available to banks on the brink of collapse. "Inter-bank loans were funded by money that originated from the drugs trade," he said. "There were signs that some banks were rescued that way."

Note: For lots more from reliable sources on the illegal activities routinely engaged in by the largest banks and financial corporations, click here.


Transocean Execs Get Bonuses after ‘Best Year in Safety,’ Despite Gulf Oil Disaster
2011-04-02, Forbes blog
http://blogs.forbes.com/jeffmcmahon/2011/04/02/transocean-bonuses-deepwater-h...

Transocean Ltd., owner of the Deepwater Horizon oil rig, awarded millions of dollars in bonuses to its executives after “the best year in safety performance in our company’s history,” according to an annual report and proxy statement released yesterday. Eleven people were killed, including nine Transocean employees, in the April 20 explosion and collapse of the rig, which gushed crude oil into the Gulf of Mexico for 86 days. “Notwithstanding the tragic loss of life in the Gulf of Mexico, we achieved an exemplary statistical safety record as measured by our total recordable incident rate and total potential severity rate,” Transocean states in the filing. Transocean President and Chief Executive Officer Steven L. Newman received about $4.3 million in cash bonuses and stock and option awards. With other compensation—such as pension increases and cost of living, housing, and automobile allowances—Newman earned $6.6 million in 2010, almost $1 million more than in 2009. His base salary, $900,000 in 2010, will increase 22 percent to $1.1 million in 2011. Transocean built and staffed the Deepwater Horizon. It was leased by BP, which denied most executives bonuses in 2010. In justifying the bonuses, Transocean cites the increased burden on executives of responding to the spill.

Note: For lots more from reliable sources on corporate corruption, click here.


Mortgage paperwork mess: Next housing shock?
2011-04-01, CBS News 60 Minutes
http://www.cbsnews.com/stories/2011/04/01/60minutes/main20049646.shtml

It's bizarre but, it turns out, Wall Street cut corners when it created those mortgage-backed investments that triggered the financial collapse. Now that banks want to evict people, they're unwinding these exotic investments to find, that often, the legal documents behind the mortgages aren't there. Caught in a jam of their own making, some companies appear to be resorting to forgery and phony paperwork to throw people - down on their luck - out of their homes. This past January in Los Angeles, 37,000 homeowners facing foreclosure showed up to an event to beg their bank for lower payments on their mortgage. In February in Miami, 12,000 people showed up to a similar event. For many that's when the real surprise comes in: these same banks have fouled up all of their own paperwork to a historic degree. There were a million foreclosures last year. And there will be another million this year - those lawsuits are forcing open those bundled, mortgage-backed securities that Wall Street cooked up in the mid 2000s, and exposing a lack of ownership documents all across the country. Banks are defensive because all 50 state attorneys general want to punish them: the states are seeking about $20 billion in damages for what they say is the irresponsible, perhaps criminal way, that some mortgage companies handled what is, for most folks, the most important investment of their lives.

Note: To watch the amazing 14-minute video of this article, click here. Learn how banks paid a company which hired people off the streets to pretend they were bank vice presidents and sign thousands of documents fraudulently. For lots more from reliable sources on the criminal practices of mortgage lenders, click 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.

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