News ArticlesExcerpts of Key News Articles in Major Media
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India declared a 21-day lockdown with four hours notice on the midnight of 24 March to prevent the spread of coronavirus. All over India, millions of migrant workers are fleeing its shuttered cities and trekking home to their villages. These informal workers are the backbone of the big city economy. Escaping poverty in their villages, most of the estimated 100 million of them live in squalid housing in congested urban ghettos. Last week's lockdown turned them into refugees overnight. Their workplaces were shut, and most employees and contractors who paid them vanished. Sprawled together, men, women and children began their journeys at all hours of the day last week. When the children were too tired to walk, their parents carried them on their shoulders. Clearly, a lockdown to stave off a pandemic is turning into a humanitarian crisis. In the end, India is facing daunting and predictable challenges in enforcing the lockdown and also making sure the poor and homeless are not fatally hurt. India has already announced a $22bn relief package for those affected by the lockdown. The next few days will determine whether the states are able to transport the workers home or keep them in the cities and provide them with food and money. "People are forgetting the big stakes amid the drama of the consequences of the lockdown: the risk of millions of people dying," says Nitin Pai of Takshashila Institution, a prominent think tank. "There too, likely the worst affected will be the poor."
Note: In how many countries besides India is this scenario playing out? For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the coronavirus pandemic from reliable major media sources.
The coronavirus financial aid package that landed on President Trump’s desk last week included a $500 billion corporate-loan fund that contained a major downside for his administration: Congressional Democrats had pushed for increased oversight of the loans, with a federal investigator designated to report to lawmakers on uses of the funding. So Trump, in endorsing the legislation Saturday, turned to a device he has used in record numbers during his tenure, the presidential “signing statement”. He signed the bill into law, but in the accompanying statement, he said he would not be bound by provisions that interfered with executive authority. Trump said he would not allow an inspector general to report to Congress because the Constitution, in his view, requires “presidential supervision” of such information. Using the signing statement to get his way with Congress is a familiar maneuver for Trump. It was at least the 769th signing statement Trump has issued since he took office. President George W. Bush, who produced more signing statements than all previous presidents combined, issued 750 in his first term. The disputes that arise between presidents and Congress because of executive signing statements could be resolved by the courts. But members of Congress have generally been unwilling to file suit, and it is difficult to find private citizens who can ... establish legal standing. Unless a court says otherwise, the president, not Congress, will have the last word on the $500 billion loan fund.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption from reliable major media sources.
In this time of social distancing and high anxiety, it can help to step back and remind ourselves of the myriad ways people are still being positive. We asked several of our reporters to share something they saw this week that is helping them remain upbeat. Inside Chicago’s once-bustling Shedd Aquarium, there wasn’t a soul in sight — except for a penguin waddling past the glass tanks. With the facility closed to the public, staff at the aquarium saw an opportunity for a field trip. They started Sunday with a penguin named Wellington, who peered into one of the giant fish tanks. The next day was mated pair Edward and Annie’s turn. Video of the sightseeing trips was shared online thousands of times. Like many nursing homes across the country, Sterling Village in Massachusetts has severely restricted its visitation policy. But resident Millie Erickson’s family still wanted to celebrate her 100th birthday with her, so they and the facility found a creative solution. About a dozen of her family members and nursing-home staff gathered outside her window to sing “Happy Birthday” as she waved along with the music and teared up — and it was all caught on video. I was heartened that this family found an outside-the-box way to make their loved one feel embraced and valued during this isolating time. We may currently need to keep our physical distance from older family members, but that doesn’t mean we can’t facilitate togetherness. Those human connections are what will get us through this crisis.
Note: Don't miss many other uplifting stories available at the link above. Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Politicians, celebrities, social media influencers and even N.B.A. teams have been tested for the new coronavirus. But as that list of rich, famous and powerful people grows by the day, so do questions about whether they are getting access to testing that is denied to other Americans. With testing still in short supply in areas of the country, leaving health care workers and many sick people unable to get diagnoses, some prominent personalities have obtained tests without exhibiting symptoms or having known contact with someone who has the virus. In areas of the country where the virus has been slow to appear, people have been able to obtain tests easily. But in New York, California, Washington State and Massachusetts, where the virus has spread rapidly and demand for tests is most high, it is very difficult. The New York City Health Department has directed doctors only to order tests for patients in need of hospitalization. People with mild symptoms are being told to quarantine themselves at home. Even health care workers, at high risk of contracting the virus and transmitting it, have struggled to get tested. Police chiefs across the country are growing concerned that they cannot get their hands on tests. “What’s frustrating is to continue to hear that there aren’t testing kits available, and my rank and file have to continue to answer calls for service while professional athletes and movie stars are getting tested without even showing any symptoms,” said Eddie Garcia, the police chief of San Jose, Calif..
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic from reliable major media sources.
The White House and the Centers for Disease Control and Prevention are asking Facebook, Google and other tech giants to give them greater access to Americans' smartphone location data in order to help them combat the spread of the coronavirus, according to four people at companies involved in the discussions who are not authorized to speak about them publicly. Federal health officials say they could use anonymous, aggregated user data collected by the tech companies to map the spread of the virus — a practice known as "syndromic surveillance" — and prevent further infections. They could also use the data to see whether people were practicing "social distancing." The federal effort [was] first reported by The Washington Post. The government officials have held at least two calls in recent days with representatives from the companies, the sources said. Those officials are "very serious" about making this happen, a person at one of the tech companies said. Similar and more aggressive surveillance practices have already been put to use in China, South Korea and Israel. The moves have set off alarm bells among privacy advocates who fear what the government may do with users' data. Facebook already provides health researchers and nongovernmental organizations in some countries with anonymized data to help disease prevention efforts. Representatives from Facebook, Google, Twitter, Apple, Amazon, Microsoft, IBM and Cisco all took part in the call with White House and federal health officials.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus pandemic and the disappearance of privacy from reliable major media sources.
Coronavirus has the world on edge. The outbreak is now a global pandemic. Coast to coast, large public gatherings and major events have been canceled. Employees have been told to work from home, universities have moved all classes online and elementary schools have closed for sanitizing. The stock market has seen meteoric crashes. It's a global event pervading nearly every aspect of people's lives. Psychologists and public health experts say public anxiety is high, and it's largely fueled by a feeling of powerlessness. The spread of the new coronavirus is not just a public health crisis. Part of what drives feelings of anxiety is a lack of information. The virus is new, and there remain many questions. Most people haven't had it, nor do they know someone who has. Experts say that matters. Not everyone reacts to epidemics the same way. When news is mixed, people can choose to focus on the good or the bad. The good news is, for most people, the illness caused by the coronavirus is generally mild and the flu-like symptoms of fever and cough don't last long. The bad news is the virus is novel and highly contagious. Whether people fixate on the good or the bad has a lot to do with who they are. Reports say most people who contract the coronavirus experience symptoms similar to the flu. Then people read stories about the National Guard helping with quarantine containment. A blog post from the Poynter Institute, which trains journalists, noted that saying "deadly virus" can be misleading, because the virus is not deadly for most people. People should also limit their media exposure, experts say. They caution against reading about the outbreak obsessively and recommend getting needed information and moving on.
Note: Read this entire article at the link above to gain a good perspective on the emotional impact of the Coronavirus. Then explore this CDC webpage on the 2009 Swine flu (H1N1), which states, " CDC estimated there were ... 274,304 hospitalizations and 12,469 deaths in the United States due to the (H1N1)pdm09 virus. Additionally, CDC estimated that 151,700-575,400 people worldwide died. 80 percent ... occurred in people younger than 65 years of age." These numbers are far below those of the Coronavirus. So why is the whole world shutting down in fear?
A large scale malaria vaccine study led by the World Health Organization has been criticised by a leading bioethicist for committing a “serious breach” of international ethical standards. The cluster randomised study in Africa is already under way in Malawi, Ghana, and Kenya, where 720,000 children will receive the RTS,S vaccine, known as Mosquirix, over the next two years. Mosquirix, the world’s first licensed malaria vaccine, was positively reviewed by the European Medicines Agency, but its use is being limited to pilot implementation, in part to evaluate outstanding safety concerns that emerged from previous clinical trials. [Among these concerns] were a rate of meningitis in those receiving Mosquirix 10 times that of those who did not, increased cerebral malaria cases, and a doubling in the risk of death (from any cause) in girls. Charles Weijer, a bioethicist at Western University in Canada, told The BMJ that the failure to obtain informed consent from parents whose children are taking part in the study violates the Ottawa Statement, a consensus statement on the ethics of cluster randomised trials, of which Weijer is the lead author, and the Council for International Organizations of Medical Sciences’ International Ethical Guidelines. “The failure to require informed consent is a serious breach of international ethical standards,” he said.
Note: For more along these lines, see concise summaries of deeply revealing news articles on vaccines from reliable major media sources.
A new NGO report has found that the treatment suffered by families forcibly separated at the US-Mexico border meets the definition of torture. Physicians for Human Rights (PHR) says its report “provides the first medical and psychological evidence of the long-lasting harm associated with family separation”. The report, “‘You Will Never See Your Child Again’: The Persistent Psychological Effects of Family Separation” ... describes findings from in-depth psychological evaluations of 26 asylum seekers, nine of them children and 17 parents. All the children and all but two of the adults showed the symptoms of various psychological problems, including post-traumatic stress disorder (PTSD), major depressive disorder or generalized anxiety disorder. The policy of separating children and parents who crossed the Mexican border without documents – including asylum seekers – began after the Trump administration moved to a “zero-tolerance” approach to border crossings. Donald Trump signed an executive order to end the practice in June 2018. However, the administration has continued to pursue hardline immigration policies since then, including ones that would affect families, and the separations continued after Trump signed his order. More than 1,110 families have been separated since then. In September 2019, a federal judge rejected new regulations that would have allowed the government to detain children and their parents indefinitely.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption from reliable major media sources.
As doctors in London performed surgery on Dagmar Turner's brain, the sound of a violin filled the operating room. The music came from the patient on the operating table. In a video from the surgery, the violinist moves her bow up and down as surgeons behind a plastic sheet work to remove her brain tumor. The King's College Hospital surgeons woke her up in the middle of the operation in order to ensure they did not compromise parts of the brain necessary for playing the violin, such as parts that control precise hand movements and coordination. "We knew how important the violin is to Dagmar, so it was vital that we preserved function in the delicate areas of her brain that allowed her to play," Keyoumars Ashkan, a neurosurgeon at King's College Hospital, said in a press release. Prior to Dagmar's operation they spent two hours carefully mapping her brain to identify areas that were active when she played the violin and those responsible for controlling language and movement. Waking her up during surgery then allowed doctors to monitor whether those parts were sustaining damage. "The violin is my passion; I've been playing since I was 10 years old," Turner said in the hospital press release. "The thought of losing my ability to play was heart-breaking but, being a musician himself, Prof. Ashkan understood my concerns." The surgery was a success, Ashkan said: "We managed to remove over 90 percent of the tumour ... while retaining full function of her left hand."
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As word came that the Boy Scouts of America had filed for bankruptcy protection, one alleged abuse survivor was moved to come forward. The man told NBC News he was a 14-year-old Boy Scout in Louisiana working on an astronomy merit badge when a scoutmaster invited him to go by the lake to look at the stars. “I was very naďve,” he said. “But when he grabbed my groin, I immediately reacted.” So did the scoutmaster. “He threatened me with a machete,” the 73-year-old said, asking not to be identified. But now that the Boy Scouts are seeking Chapter 11 protection, the alleged abuse survivor said he’s ready to join the more than 3,000 men who are suing the nonprofit for allowing pedophiles inside the organization to prey on the boys. Michael Mertz, a Chicago-based lawyer who has represented Boy Scouts victims, said that by declaring bankruptcy, the organization is trying to limit the damages. Mitchell Garabedian, whose efforts to go after predatory Roman Catholic priests were dramatized in the Oscar-winning movie “Spotlight” and who also represents Boy Scouts victims, said the move to bankruptcy court could force the organization to open all its so-called “perversion files.” Those files, which were collected by the Boy Scouts and go back to 1944, contain the names of 7,819 Scout leaders who allegedly preyed on boys, as well as the names of 12,254 victims, experts and attorneys involved in the cases have said. So far, only the files from 1965 to 1985 have been made public.
Note: For more along these lines, see concise summaries of deeply revealing news articles on sexual abuse scandals from reliable major media sources.
James “Whitey” Bulger terrorized Boston from the 1970s into the 1990s with a campaign of murder, extortion and drug trafficking. In 2013, Janet Uhlar was one of 12 jurors who found Bulger guilty in a massive racketeering case, including involvement in 11 murders. But now Uhlar says she regrets voting to convict Bulger on any of the murder charges. Her regret stems from a cache of more than 70 letters Bulger wrote to her from prison, some of which describe his unwitting participation in a secret CIA experiment with LSD. The agency dosed Bulger with the powerful hallucinogen more than 50 times when he was serving his first stretch in prison, in Atlanta. Uhlar has spoken publicly about her regret before but says her belief that the gangster was wrongly convicted on the murder charges was reinforced after reading a new book by Brown University professor Stephen Kinzer: “Poisoner in Chief: Sidney Gottlieb and the CIA Search for Mind Control.” Gottlieb’s secret program, known at MK-ULTRA, enlisted doctors and other subcontractors to administer LSD in large doses to prisoners, addicts and others unlikely to complain. Uhlar reviewed the 1977 hearings by the U.S. Senate Committee on Intelligence, which was looking into MK-ULTRA, and found testimony where CIA director Stansfield Turner acknowledged evidence showing that the agency had been searching for a drug that could prepare someone for “debilitating an individual or even killing another person.”
Note: Read more about the CIA's MK-ULTRA program. For more along these lines, see concise summaries of deeply revealing news articles on mind control from reliable major media sources.
A Missouri jury’s $265 million award to peach grower Bill Bader in his lawsuit against herbicide providers Bayer and BASF has raised the stakes for the two companies as at least 140 similar cases head to U.S. courts. A jury in U.S. District Court in Cape Girardeau, Missouri, handed Bader, the state’s largest peach farmer, $15 million in actual and $250 million in punitive damages. He sued the companies saying his 1,000-acre orchard was irreparably harmed by herbicide that they produce, which drifted onto its trees from nearby farms. The three-week trial was the first case in the United States to rule on the use of dicamba-based herbicides alleged to have damaged tens of thousands of acres of U.S. cropland. The herbicide can become a vapor and drift for miles when used in certain weather, farmers have claimed. Bayer faces separate multi-billion-dollar litigation over the Roundup weedkiller made by Monsanto, the U.S. firm it took over for $63 billion in 2018. Monsanto made Roundup and dicamba, and Bayer is being sued over both products. Bader Farms, in southern Missouri near the Arkansas border, said it lost many trees when the herbicide containing dicamba was used on nearby soybean and cotton farms and drifted onto its property. The farm said repeated dicamba exposure beginning in 2015 killed or weakened the fruit trees. The U.S. Environmental Protection Agency imposed restrictions on the use of dicamba in November 2018 over concerns about potential damage to nearby crops.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in the food system and in the corporate world.
The U.S. Department of Education says it is opening an investigation into Yale and Harvard universities for failing to disclose hundreds of millions of dollars in gifts and contracts from foreign donors. The two Ivy League schools have been singled out in a federal crackdown on institutions of higher learning for allegedly not reporting foreign donations of more than $250,000, as required by law under Section 117 of the Higher Education Act. The Department of Education said Yale failed to disclosed a total of $375 million in foreign money and that it was concerned that Harvard may not have fully complied with reporting requirements. The investigation of Yale and Harvard is part of a larger examination by the DOE, which says its enforcement efforts, since July, have triggered the reporting of approximately $6.5 billion in previously undisclosed foreign money, much of it from China, Saudi Arabia, Qatar and the United Arab Emirates, according to the department. In the case of Yale, the letter from the DOE specifically requested all records from the school related to gifts or contracts from Saudi Arabia, Saudi nationals, China, Huawei Technologies and ZTE. Huawei and ZTE ... were placed on a U.S. sanctions blacklist last year. In February of last year, a Senate report described China's influence on the U.S. education system as "effectively a black hole," because universities were failing to report foreign money.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.
A man once described by an FBI agent as the world's largest "facilitator" of child abuse websites pleaded guilty on Thursday to operating a web hosting service that allowed users to anonymously access hundreds of thousands of images and videos depicting child abuse. Eric Eoin Marques, 34, faces a mandatory minimum of 15 years in prison and a maximum of 30 years after his guilty plea to one count of conspiracy to advertise child abuse images. A plea agreement will ask the US district judge Theodore Chuang in Maryland to sentence Marques to 15 to 21 years in prison, but the judge is not bound by the recommendation. Marques created and operated a free, anonymous web hosting service, called Freedom Hosting, on a network allowing users to access websites without revealing their IP addresses. In 2013, FBI agents in Maryland connected to the network and accessed a child abuse bulletin board with more than 7,700 members and more than 22,000 posts. Agents downloaded more than 1 million files from another website on the network, nearly all of which depicted sexually explicit images of children. Images on the service depicted the rape and torture of infants and older children. Authorities seized nearly $155,000 in US currency from Marques, who said during an August 2013 extradition hearing that his business had been "very successful" and profitable. FBI special agent Brooke Donahue has described Marques as "the largest facilitator of child pornography websites on the planet", according to court records.
Note: For more along these lines, see concise summaries of deeply revealing news articles on sexual abuse scandals from reliable major media sources.
The Trump administration’s decision this week to expand the use of land mines has baffled and angered humans rights and arms control groups, which say the decision further imperils anyone who may encounter the weapons. In 2018, nearly 20 civilians were killed or injured every day by land mines and other unexploded ordnance remnants, such as cluster munitions. Children represented 40 percent of the casualties. Land mine use and production are banned by 164 countries. The United States is not one of them, but Obama-era restrictions only allowed anti-personnel land mines to be used in defense of the Korean Peninsula. The new Trump policy reverses those regulations. Most land mines that menace civilians are “dumb” or persistent. They can remain dangerous indefinitely until someone — commonly a child or farmer — encounters one. The United States does not have any of these land mines in its inventory, defense officials said. In recent decades, the United States has produced “smart” or nonpersistent mines that can be set to self-destruct in a certain number of minutes, hours or days after they are deployed. Nearly 120,000 “smart,” nonpersistent mines were used in the Gulf War. Even though the Pentagon suggested a low dud rate, anti-personnel and antitank weapons that failed to self-detonate littered Kuwait, a 2002 Government Accountability Office report said. Nearly 2,000 duds were uncovered by contractors working in one sector alone out of seven, the GAO report concluded.
Note: For more along these lines, see concise summaries of deeply revealing news articles on military corruption from reliable major media sources.
The need for touch exists below the horizon of consciousness. Before birth, when the amniotic fluid in the womb swirls around us and the foetal nervous system can distinguish our own body from our mother's, our entire concept of self is rooted in touch. As adults, we may not comprehend the importance of touch even when it disappears. "We might begin to realise that something is missing, but we won't always know that it's touch," says Prof Francis McGlone, a neuroscientist. "But when we talk about the problem of loneliness, we often ignore the obvious: what lonely people aren't getting is touch." As the pandemic continues, many of us will be trying to cope with profound stress without the comfort of touch. The total absence of touch ... contravenes the hardwiring that regulates us from our preverbal years. In these times of touch deprivation there is no real substitute for what we get from other humans, but there are ways to soothe ourselves. We may be able to experience touch vicariously. Researchers have found that seeing touch (on TV or in films, for example) – particularly social, affective or pet touch – can give us some of the benefits of feeling touch. This is not a permanent or complete substitute, but a partial one. A hunger for touch is a signal that a primitive need is not being met. But evolution is on our side. Every scientist I spoke to was hopeful that, once we can come together again, we will adjust quickly.
Note: For more along these lines, see concise summaries of deeply revealing news articles on the coronavirus and health from reliable major media sources.
At this week’s World Economic Forum (WEF) in Davos, Switzerland, where the cannabis industry enjoyed a whole pavilion of its own, the biggest takeaway was where cannabis is headed in terms of human health. Rick Doblin, executive director of MAPS, the Multidisciplinary Association for Psychedelic Studies ... has delivered a TED talk on the future of psychedelic-assisted psychotherapy. And at Davos there was strong interest in the plant-based psychedelic molecules Doblin works with, [pharmacist Saul] Kaye said. “If you look at cannabis as an entryway into the market for botanical-based medicines, you can look at mushrooms, psilocybin,” said Kaye. “You can look at ibogaine, ayahuasca, which are new medicinal models that are breaking out in the world based on botanical medicine that has been illegal for the last 100 years. “Cannabis has elevated access to all kinds of botanical-based medicines, which ultimately can change mental health, physical health; and it’s a fascinating area that we can ... elevate the conversation around.” Other topics at the cannabis forum ... merited an “elevated” conversation of their own. A speaker from StemCell United, for example, addressed the fast expansion of CBD companies in Asia, building on what Kaye termed “a global de-stigmaization” across the Asian markets. The result, he said, has been to begin changing the traditional impression of cannabis from “This is illicit, this is a drug,” to, “This a research drug that is much safer than alcohol and tobacco.”
Note: For more along these lines, see concise summaries of deeply revealing news articles on mind-altering drugs from reliable major media sources.
In 2019, an Army laboratory at Fort Detrick that studies deadly infectious material like Ebola and smallpox was shut down for a period of time after a CDC inspection, with many projects being temporarily halted. ABC7 has received documents from the CDC outlining violations they discovered during a series of inspections that year, some of which were labeled "serious." Earlier that year, the US Army Medical Research Institute had announced an experiment at the Fort Detrick laboratory that would involve infecting rhesus macaque monkeys with active Ebola virus to test a cure they were developing. Several of the laboratory violations the CDC noted in 2019 concerned "non-human primates" infected with a "select agent", the identity of which is unknown – it was redacted in all received documents, because disclosing the identity and location of the agent would endanger public health or safety, the agency says. In addition to Ebola, the lab works with other deadly agents like anthrax and smallpox. Select agents are defined by the CDC as "biological agents and toxins that have been determined to have the potential to pose a severe threat to public health and safety, to animal and plant health, or to animal or plant products." The CDC notes that the United States Army Medical Research Institute of Infectious Diseases had "systematically failed to ensure implementation of biosafety and containment procedures commensurate with the risks associated with working with select agents and toxins."
Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in science and in the military from reliable major media sources.
Jeffrey Epstein’s name was uttered just once in the federal courtroom but his memory hovered like a cloud over Wednesday’s hearing for an ex-cop who shared a cell with him on the day last July when the accused sex trafficker allegedly tried to kill himself. Nicholas Tartaglione faces a possible death penalty if convicted of the gangland-style killing of four men in a soured drug deal. He has become entangled in the Epstein saga — because many found it curious that the most high-profile inmate in the nation would be kept in the same jail cell as an alleged quadruple killer. As Epstein’s cellmate at the time of the July incident ... Tartaglione [is] requesting the surveillance video from outside the jail cell, to prove that he helped save Epstein during the financier’s abortive suicide try. Defense lawyer Bruce Barket said video of the incident would back up Tartaglione’s story that he alerted guards to Epstein’s plight. That fact could be used before a judge and jury. The problem is that the Bureau of Prisons says it no longer has the video. It was accidentally destroyed. The fact that the video is gone, which was reported earlier this month to great consternation, was yet another embarrassment for the Bureau of Prisons. Epstein died weeks later, on Aug. 10, in what was classified as a suicide by hanging, although some, including Epstein’s brother, have suggested it could have been murder. By the time of his death, Epstein had no cellmate and was inexplicably no longer on suicide watch despite the earlier incident.
Note: This New York magazine report has a wealth of information on Jeffrey Epstein's very strange death. Explore a complex yet very informative timeline of Epstein and his relationship to the Mossad and much more. Many links are made here with verifiable information that the major media has failed to report. A drone video also explores the island owned by Epstein and a strange "temple" found there. Lots more available here. For more along these lines, see concise summaries of deeply revealing news articles on Jeffrey Epstein from reliable major media sources.
Wells Fargo has agreed to pay $3 billion to settle criminal charges and a civil action stemming from its widespread mistreatment of customers in its community bank over a 14-year period, the Justice Department announced on Friday. From 2002 to 2016, employees used fraud to meet impossible sales goals. They opened millions of accounts in customers’ names without their knowledge, signed unwitting account holders up for credit cards and bill payment programs, created fake personal identification numbers, forged signatures and even secretly transferred customers’ money. In court papers, prosecutors described a pressure-cooker environment at the bank, where low-level employees were squeezed tighter and tighter each year by sales goals that senior executives methodically raised, ignoring signs that they were unrealistic. Part of Friday’s deal ... is a deferred prosecution agreement, a pact that could expose the bank to charges if it engages in new criminal activity. During the final five years of abuse, the bank quietly fired thousands of employees for falsifying records in response to customer complaints. The practices covered by the settlement ... are not the only misbehavior the bank has revealed since 2016. The bank has also admitted it charged mortgage customers unnecessary fees and forced auto loan borrowers to buy insurance they did not need. The mortgage and auto loan claims are not part of Friday’s deal. Wells Fargo’s profits last year totaled nearly $20 billion.
Note: For more along these lines, see concise summaries of deeply revealing news articles on financial industry corruption from reliable major media sources.
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.