News ArticlesExcerpts of Key News Articles in Major Media
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In much of the developing world, the electrical grid is a rickety, unreliable tangle of wires — if it exists at all. So starting quietly last year, SolarCity created a charity that installs solar arrays, complete with battery packs, at rural schools in developing countries. The GivePower Foundation has lit nearly 1,000 schools so far in Africa and Central America, a number expected to top 1,500 by the end of this year. Each solar and battery system is designed to generate and store enough electricity to light the schools for ... extending class hours. Students and community members can also use the systems to recharge their cell phones, increasingly popular in areas that never had widespread landline phone service. Hayes Barnard, GivePower’s president, says, “In certain parts of the world, there are opportunities to use renewable energy from the get-go. You don’t have to fight the status quo that’s been established around dirty energy.” The foundation aims to light one school for every megawatt of solar power SolarCity installs in the United States (a megawatt is roughly equal to the amount of electricity used by 750 American homes in any given instant). Next up: lighting 200 schools in Nepal, as part of the country’s recovery efforts from this spring’s devastating earthquake. Barnard will participate in that installation project himself. SolarCity recruits its own employees to do much of the installation work abroad, offering the work trips as an incentive for outstanding job performance.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
DuPont: “one of the most successful and sustained industrial enterprises in the world,” as its corporate website puts it. Perhaps no product is as responsible for its dominance as Teflon. For more than 60 years C8 was an essential ingredient of Teflon. As part of a 2005 settlement over contamination around a West Virginia plant, a team of three scientists ... were charged with determining if and how the chemical affects people. The science panel found that C8 was “more likely than not” linked to ulcerative colitis - as well as to high cholesterol; pregnancy-induced hypertension; thyroid disease; testicular cancer; and kidney cancer. The scientists’ findings, published in more than three dozen peer-reviewed articles, were striking, because the chemical’s effects were so widespread throughout the body and because even very low exposure levels were associated with health effects. DuPont scientists had closely studied the chemical for decades and through their own research knew about some of the dangers it posed. Yet rather than inform workers, people living near the plant, the general public, or government agencies responsible for regulating chemicals, DuPont repeatedly kept its knowledge secret. Another revelation about C8 makes all of this more disturbing: This deadly chemical that DuPont continued to use well after it knew it was linked to health problems is now practically everywhere. A man-made compound that didn’t exist a century ago, C8 is in the blood of 99.7 percent of Americans.
Note: For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.
The Securities and Exchange Commission just ruled that large publicly held corporations must disclose the ratios of the pay of their top CEOs to the pay of their median workers. About time. In 1965, CEOs of America's largest corporations were paid, on average, 20 times the pay of average workers. Now, the ratio is over 300 to 1. It turns out the higher the CEO pay, the worse the firm does. Professor Michael J. Cooper of the University of Utah [and colleagues] recently found that companies with the highest-paid CEOs returned about 10 percent less to their shareholders than do their industry peers. So why aren't shareholders hollering about CEO pay? Because corporate law in the United States gives shareholders at most an advisory role. They can holler all they want, but CEOs don't have to listen. Larry Ellison, the CEO of Oracle, received a pay package in 2013 valued at $78.4 million, a sum so stunning that Oracle shareholders rejected it. That made no difference because Ellison controlled the board. In Australia, by contrast, shareholders have the right to force an entire corporate board to stand for re-election if 25 percent or more of a company's shareholders vote against a CEO pay plan two years in a row. Which is why Australian CEOs are paid an average of only 70 times the pay of the typical Australian worker. The new SEC rule requiring disclosure of pay ratios ... isn't perfect. Some corporations could try to game it. But the rule marks an important start.
Note: The above article was written by former U.S. Secretary of Labor Robert Reich. For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.
At first glance, it looks as if Americans’ incomes grew robustly in the years 2003 through 2012. Total income reported on tax returns, adjusted for inflation, rose almost 18 percent. So why do so many Americans report economic distress? Here are some eye-popping facts ... distilled from a new government report on tax returns filed in 2003 and 2012: Just 1,361 households enjoyed 8.5 percent of the total increase. During the years 2003-2012, the income of those 1,361 households rose from an average of $86 million to $161 million, per income tax filer, per year. As their income increased, their income tax burden fell by 3 cents on the dollar to 17.6 percent of their income. The top 1 percent, or 1.36 million taxpayers, enjoyed more than half of all the increased income in America. Average income declined for 95 percent of households. Think about how vast America is, from Key West, Fla., to Nome, Alaska, from Maine to Hawaii. Most people would never have heard of a town with just 1,361 households, a speck too small for most maps. And yet an economic community that size enjoyed a much thicker slice of the national income pie, while the vast majority of people had to get by on a smaller slice of income pie. While politicians and pundits talk in vagaries about ideology and politics, our Congress slowly but steadily builds an economic, legal and tax structure that takes from the many to benefit the few.
Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.
One of the stories that inspired bestselling author Susan Casey’s new book on the intricate world of dolphins, Voices in the Ocean, is almost too beautiful to be believed. A biologist named Maddalena Bearzi was studying a group of dolphins off the coast of Los Angeles when she noticed something strange. The “pod” (group of dolphins) had just landed upon a herd of sardines. They were about to start feeding when one, unexpectedly, darted off. The rest followed, swimming full speed out to sea. When she reached them, three miles offshore, the pod had a formed a circle - in the middle of it, a girl’s floating body. Very near death, the girl had a plastic bag with her identification and a suicide note wrapped around her neck. With the dolphins' help, she was saved. The first dolphins lived on land. It took them 25 million years to adapt to being in the water. Their bodies shrank and their teeth shrank and their brains got big. They did all kinds of shape-shifting evolutionarily. Their brains grew significantly. It’s fascinating because scientists don’t know why. Most scientists’ main guess is that it was due to their changing social behavior. How did the dolphin know the girl was there? That’s the big question. They don’t rely on vision. I suspect it had something to do with frequency and vibration but of course that’s a guess. We don’t know. They tend to treat us the way they would treat other dolphins. By themselves, they’re vulnerable - to sharks, getting lost, all these things. So when you see dolphins together there is constant touching. They know how to help each other.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Americans are required to register if they want to vote; as of this week, Oregonians will have to register not to. Gov. Kate Brown signed a first-in-the-nation bill to automatically register all eligible Oregonians to vote when they obtain or renew a driver’s license or state identification card. Those who are registered through the new process will be notified by mail and will be given three weeks to take themselves off the voting rolls. If they do not opt out, the secretary of state’s office will mail them a ballot automatically 20 days before any election. Oregon was the first state in the country to switch to all-mail voting when Ballot Measure 60 was passed in 1998 by a wide margin. Washington state and Colorado later followed suit. Currently, there are about 2.2 million registered voters in Oregon, said Tony Green, spokesman for Secretary of State Jeanne Atkins, and an additional 800,000 are not registered but eligible. The new law is expected to bring nearly half of those onto the voter rolls. For those who are already registered to vote, he said, “there will be no change. But if you move, your information will be automatically transferred. You don’t have to manually re-register. You only have to do one thing — change your driver's license address.” The change was not universally embraced. HB 2177 passed both chambers of the state Legislature without a single Republican vote in its favor.
Note: For more along these lines, see concise summaries of deeply revealing elections news articles from reliable major media sources.
The sleek race car dubbed 'Blade' didn't come off an assembly line - but out of a 3D printer. Kevin Czinger of Divergent Microfactories has spent most of his career in the automotive industry. One day he realized that no matter how fuel-efficient or how few tailpipe emissions the modern car has, the business of car manufacturing is destroying the environment. "3D printing of metal radically changes that," said Czinger. Currently cars are pieced together on long assembly lines inside large factories that use massive amounts of energy. Even the most fuel-efficient car has a large carbon footprint before ever leaving the plant. Czinger and his team's approach was to take the large plant out of the equation. To accomplish this they printed the modular pieces that are used to connect carbon rods that make up the Blade's chassis. The 3D printed chassis is only 102 pounds and has the same strength and safety protection as a frame made out of steel. By using carbon fiber instead of steel or aluminum for the body, the entire vehicle only weighs 1400 pounds (635kg). The Blade ... runs on natural gas, reducing its carbon footprint even further. The core enabling technology, the ability to print out car components that can be easily assembled, is what Kevin Czinger hopes will revolutionize car manufacturing. He says electric cars are a step in the right direction, but alone they won't be enough to curb greenhouse emissions given the projected rise in demand for cars globally unless the way they are manufactured changes.
Note: Watch a five-minute video showing this exciting process.
A couple in Turkey ... doled out food to 4,000 Syrian refugees for their wedding reception. The bride wore an elaborate white dress, with a tiara perched on her headdress, and the groom sported a white tuxedo with black trim. They stood behind large food trucks distributing meals to hungry Syrians. The couple had decided that instead of hosting their friends and family for a traditional banquet reception, they would feed the victims of a bloody civil war next door. The idea came from the groom’s father, who volunteers for a Turkish relief organization called Kimse Yok Mu (KYM). For the past few years, KYM has distributed daily meals to the thousands of impoverished Syrians who’ve flooded across the nearby border. He approached a representative of the organization and proposed that the family would cover part of the costs of feeding refugees for the day. His son ... was surprised by the prospect, but [was] soon won over. “When he told that to the bride she was really shocked because, you can imagine, as a bride you wouldn’t think about this — it’s all about you and your groom,” says Hatice Avci, the international communications manager for KYM. “In southeastern Turkey there is a real culture of sharing with people in need. They love to share their food, their table, everything they have. That’s why the bride also accepted. And afterwards she was quite amazed about it.” So, they arrived at KYM’s distribution center on Thursday to spend the day serving food and taking photographs with their grateful recipients.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Five police forces are investigating claims of historical child sexual abuse involving former PM Sir Edward Heath. Wiltshire Police halted an inquiry into a brothel keeper in the 1990s after she said Sir Edward was involved in child sexual abuse. Claims made by the brothel keeper, Myra Ling Ling Forde, that Sir Edward was a client, meant that she had left herself open to prosecution. However, the case against her was allegedly discontinued between 1990 and 1995. She was later convicted of controlling prostitutes, [and] jailed for six years after a trial that included allegations that she had supplied children as young as 13 to her clients. The Independent Police Complaints Commission said on Monday that it would look at whether Wiltshire officers failed to pursue allegations of child abuse made against Sir Edward, who was Conservative prime minister from 1970 to 1974. A retired detective has alleged claims were made in the 1990s but not followed up. Kent Police told the BBC it had received a report on Tuesday of a sexual assault having been committed in east Kent in the 1960s [that] "named Sir Edward Heath in connection with the allegation. Meanwhile, Labour MP Tom Watson said he had referred two allegations of child sexual abuse by Sir Edward to the police since 2012. He said police had confirmed that at least one of those allegations was being investigated.
Note: For more evidence of Heath's involvement, see this Guardian article. For more along these lines, see concise summaries of deeply revealing sex abuse scandal news articles from reliable major media sources.
Scores of children have been saved from abuse after an elaborate sting by Queensland Police led to the identification and arrest of key members of a global online sex abuse network. Queensland's anti-paedophile taskforce Argos targeted an internet bulletin board which had 45,000 members. Users were ranked according to the volume and originality of the child exploitation material they uploaded to the site. The site, the name of which remains suppressed by the South Australian District Court, was administered by ... Adelaide childcare worker Shannon McCoole. This month, the Families SA employee was sentenced to 35 years in jail for sexually abusing at least seven children in his care and for transmitting child pornography on the internet. McCoole's victims were in state care, and were as young as 18 months old. With McCoole in custody, Queensland's Taskforce Argos then activated phase two of the operation. "Phase two was to take over the network," Detective Inspector Jon Rouse said. "Ultimately, you had a child sex offender network that was being administered by police." Two officers from Taskforce Argos secretly assumed the online identity of Shannon McCoole, working around the clock for 10 months to dismantle the paedophile ring and identify abusers. Detective Inspector Rouse said the sting resulted in the identification of paedophiles around the world. "US, Europe, United Kingdom. [It was] global," he said.
Note: For more along these lines, see concise summaries of deeply revealing news articles on sex abuse scandals from reliable major media sources.
The United Nations has spent half a billion dollars on contracts with a Russian aviation company since discovering one of its helicopter crews in the Democratic Republic of the Congo drugged and raped a teenage girl in a sexual attack. The girl was dumped naked and unconscious inside the helicopter base. Internal UN documents, marked “strictly confidential” and leaked to the Guardian, reveal how the UN’s internal complaints unit uncovered evidence the woman was abused ... by the manager in charge of UTair’s base in Kalemie, eastern DRC. The main investigative report, from March 2011, warned of a possible “culture of sexual exploitation and abuse” at UTair. Copies of that report were circulated among top officials at the UN. The company was permitted to continue doing business with the UN on the condition it introduce a new training regime overseen by a monitor. The disclosures come at a critical moment for the UN secretary general, who has struggled to contain the fallout from recent revelations concerning the sexual abuse of children by French and other peacekeeping troops in the neighbouring Central African Republic. “It wasn’t just one or two bad apples,” said a senior UN official familiar with the report and its fallout. “It was clear the problems of sexual exploitation were wider.” In total, the company ... has been granted contracts worth $543.3m for services provided in 11 countries since the UN became aware it had a problem with sexual exploitation.
Note: Watch powerful evidence in a suppressed Discovery Channel documentary showing that child sexual abuse scandals reach to the highest levels of government. For more along these lines, see concise summaries of deeply revealing news articles on sex abuse scandals from reliable major media sources.
Some 1.3 billion people worldwide live without electricity, affecting health, lowering incomes, and making education difficult. An increasing number of advocates ... are promoting the use of solar power to [increase] access to clean energy across the globe. Solar is a low-cost energy source in the long run, but it has high initial costs. Some solar manufacturers and energy distributors are helping people skirt these up-front costs through creative financing models. In programs such as these, customers can finance their own solar systems for less than what they would otherwise be spending on kerosene ($40-$80 per year on average). Barefoot College developed a training program for grandmothers, who ... learn how to install, maintain, and repair the solar systems and, upon graduation, receive a monthly salary for their work. Solar Sister trains rural African women in sales and entrepreneurship, empowering them to become active participants in the economy while acknowledging that “women invest 90 percent of their income into their family’s well being.” Lighting a Billion Lives trains local entrepreneurs to manage their own solar charging station, from which they rent out solar lamps for a modest price to the local population. The organization also offers microloans and subsidies to facilitate such entrepreneurship. Grameen Shakti (Bangladesh), SolarAid (Africa), and Kamworks (Cambodia) operate with similar values. In this way, solar companies are ... empowering families [and] communities.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Lord Sewel is facing a police inquiry after quitting as House of Lords deputy speaker over a video allegedly showing him taking drugs with prostitutes. Lords Speaker Baroness D'Souza said he had also quit as chairman of the Lords privileges and conduct committee in the wake of the Sun on Sunday's story. The footage showed him snorting powder from a woman's breasts with a Ł5 note. In the footage, Lord Sewel, who is married, also discusses the Lords' allowances system. As chairman of committees, the crossbench peer also chaired the privileges and conduct committee, and was responsible for enforcing standards in the Lords. The role, which comes with an Ł84,500 salary, meant he was in charge of proceedings when the Lords considered a bill at committee stage, and was automatically made a deputy speaker. Lord Sewel served as a minister in the Scotland office under Tony Blair's Labour government. He has been a member of the Lords since 1996, and is a former senior vice principal of the University of Aberdeen. In a recent blog for the Huffington Post, he said the Lords had taken "major steps" to "protect its reputation and punish misconduct by its members". He highlighted the new power of peers to suspend for any length of time or expel a member who had misbehaved.
Note: Watch powerful evidence in a suppressed Discovery Channel documentary showing that this kind of behavior is much more common than most people know at highest levels of government.
This week Zachary Crockett of the Priceonomics blog highlighted some eye-popping statistics on high-speed police pursuits. Crockett points to a 2007 study ... which found that these [chases] take about 323 lives each year. To put it in perspective, that's more than the number of people killed by floods, tornadoes, lightning and hurricanes - combined. These numbers ... only count deaths directly related to vehicle accidents involved in these chases. If a person is chased down by cops and eventually shot, for instance, that death wouldn't show up here. But the most shocking thing is that innocent bystanders account for 27 percent of all police chase deaths, or 87 deaths per year. This underscores a key fact that may seem obvious: high speed police chases are incredibly dangerous not just to the people involved in them, but to everyone who crosses their path. Given the high risk, you might assume that cops only give chase to the most violent criminals. But you'd be wrong. Ninety one percent of high-speed chases are initiated in response to a non-violent crime, according to a fascinating report from the International Association of Chiefs of Police and the National Institute of Justice. 42 percent involved a simple traffic infraction. Another 18 percent involved a stolen vehicle. 15 percent involved a suspected drunk driver. Is it worth risking life and limb ... to catch somebody who ran a red light? Or who failed to signal a turn?
Note: Why would police use their vehicles to make our streets more dangerous? For more along these lines, see concise summaries of deeply revealing government corruption news articles from reliable major media sources.
The Obama administration has ruled that inspectors general have to get permission from the agency they’re monitoring for access to wiretaps, grand jury and credit information, a decision that immediately was denounced by watchdogs and lawmakers. The Justice Department’s inspector general said the 58-page ruling ... will undermine his ability to do his job rooting out fraud and corruption. “Without such access, our office’s ability to conduct its work will be significantly impaired,” Inspector General Michael E. Horowitz said in a statement. His disapproval was followed by a bipartisan condemnation from four congressional leaders whose committees have oversight over DOJ. [In] 2010 ... the FBI started restricting the DOJ inspector general’s access to documents whose confidentiality is protected by law, including grand jury testimony and wiretaps. The IG’s review of the controversial Fast and Furious case, the failed sting operation that lost track of more than 1,000 government-issued guns, one of which was used to kill a U.S. Border Patrol agent, was delayed. Other investigations have lagged, Horowitz testified before Congress last February, complaining that the FBI has failed to turn over key records in several whistleblower cases. “Imagine if we had a DOJ (inspector general) during Watergate looking at the FBI’s conduct and the Attorney General had this opinion to deny or delay access to this kind of information,” said Brian Miller, the former inspector general at the General Services Administration.
Note: Last year, President Obama invoked executive privilege in an attempt to cover up the Fast and Furious scandal. For more along these lines, see concise summaries of deeply revealing government corruption news articles from reliable major media sources.
The Department of Homeland Security has been monitoring the Black Lives Matter movement since anti-police protests erupted in Ferguson, Missouri last summer, according to hundreds of documents obtained by The Intercept through a Freedom of Information Act request. The reports confirm social media surveillance of the protest movement and ostensibly related events in the cities of Ferguson, Baltimore, Washington, DC, and New York. The tracking of domestic protest groups and peaceful gatherings raises questions over whether DHS ... has allowed its mission to creep beyond the bounds of useful security activities as its annual budget has grown beyond $60 billion. In an email to The Intercept, DHS spokesman S.Y. Lee wrote: “The DHS National Operations Center statutory authority ... is limited to providing situational awareness." Baher Azmy, a legal director at the Center for Constitutional Rights, however, argues that, “What they call situational awareness is Orwellian speak for watching and intimidation. Some of the documents show that the DHS has produced minute-by-minute reports on protesters’ movements in demonstrations. Surveillance of [an] April 29th protest, which the bulletin explicitly refers to as a “First Amendment-protected event,” raises questions about the potentially compromised state of protesters’ civil liberties — a worry that also surfaced after it was revealed in 2012 that the DHS was monitoring Occupy Wall Street.
Note: For more along these lines, read about Cointelpro, the program used by corrupt intelligence agencies to spy on and attack the U.S. civil rights movement beginning in the 1960's. For more, see concise summaries of deeply revealing news articles about the erosion of civil liberties.
His body ravaged by chemotherapy treatments, retired radio engineer John Kanzius spent months in his basement in 2003 cobbling together a makeshift tumor-killing machine. Kanzius had no medical background. He had been a ham radio operator and the owner of a television and radio station company. But he had leukemia, and he did not want to die. He did not know it then, but the John Kanzius's Noninvasive Radiowave Cancer Device ... would eventually make the pages of respected medical journals and attract the support of leading cancer researchers. Dr. Steven A. Curley, an oncologist ... launched Kanzius’s research into the national spotlight and devoted his career to the project. Curley had treated many cancer patients, but [grew] particularly close with Kanzius. In 2009, Kanzius died at 64 from pneumonia while undergoing chemotherapy. Many thought the Kanzius machine would die with him. But this May, Curley filed protocols with the Italian Ministry of Health to test the radio wave machine on humans diagnosed with pancreatic and liver cancer. Researchers from the University of Pittsburgh, the MD Anderson Cancer Center and Rice University tested the technology [on] human cancer cells in petri dishes, as well as into tumors in mice, rats, rabbits and pigs. Using the Kanzius machine, they were able to heat [injected] nanoparticles and, as a result, kill all those cancerous cells [while surrounding healthy areas remained intact]. Results were published in the oncology medical journal Cancer, as well as Nano Research.
Note: Learn more about promising cancer treatments that are emerging and why these are frequently overlooked. Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Jeff Bradstreet, the controversial autism doctor who authorities say committed suicide on June 19 following a federal raid of his offices ... was closely involved with a European company that provided the drug targeted in the search. On June 19, the day of Bradstreet’s death, a European news report described the deaths of five people at a Swiss clinic run by the company, First Immune. The condition that led these people to the clinic remains unclear, as is what caused their deaths, but each patient reportedly paid 5,000 euros per week (about $5,400 US) for treatment. The First Immune Facebook page ... includes a post by a page administrator about the death of Bradstreet that claims: "Dr Bradstreet has been under attack by big pharma for his success during all his professional life so there is no way he would have committed a suicide for just another attack. He was murdered; the FDA were clearly involved, and the other suspect is the MMR vaccine co-orporations, who work with the FDA." Rumors of a murder conspiracy continue to buzz around Bradstreet’s death, and family members have used money from a fundraiser to hire private investigators to look into it.
Note: For other informative articles on the mysterious deaths of alternative health doctors who had developed possible cures for cancer and autism, see this webpage and this one.
Although Dr. Martin Luther King, Jr. used Christian social ethics ... his enduring ethos, at its core, is nonreligious. It champions a set of moral, spiritual, and civic responsibilities. Nowhere does he transmute spiritual ideas from various traditions into secular principles more masterfully than in his extraordinary 1958 essay “An Experiment in Love.” Penned five years before his famous Letter from Birmingham City Jail ... the essay was eventually included in the indispensable A Testament of Hope: The Essential Writings and Speeches of Martin Luther King, Jr.. In the first of the six basic philosophies, Dr. King addresses the tendency to mistake nonviolence for passivity. The second tenet: "Nonviolence ... does not seek to defeat or humiliate the opponent, but to win his friendship and understanding. The aftermath of nonviolence is the creation of the beloved community, while the aftermath of violence is tragic bitterness." In considering the third characteristic of nonviolence, Dr. King appeals to the conscientious recognition that those who perpetrate violence are often victims themselves. Out of this recognition flows the fourth tenet: "Nonviolent resistance [requires] a willingness to accept suffering without retaliation." The fifth basic philosophy [extends from] the noblest use of what we call “love”. With this, he turns to the sixth and final principle of nonviolence as a force of justice, undergirded by the nonreligious "creative force in this universe that works to bring the disconnected aspects of reality into a harmonious whole."
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Tired of sharing a single bathroom with his teenage son, Sean Rosas hatched a plan. But ... renovating their broken-down bathroom ... would cost more than what Rosas, the director of volunteer services at a nonprofit, had on hand. That’s when Rosas, 43, stumbled on Lending Club, a website that matches borrowers directly with individual lenders. If you need a loan, the site pulls up your credit score, vets your application within minutes and assigns an interest rate. If enough people sign up to lend, you can get the money in days. More than 250 people chose to back Rosas, giving him a three-year, $16,000 loan at 8.9% annual interest. Rosas, who has made every monthly payment so far, is thrilled with his deal. “It was a much more human experience than if I had gone to a faceless bank,” he says. Peer-to-peer has grown partly as a response to the recession; when credit was tight, traditional banks pulled back on lending, and consumers needed alternatives. Compared with a traditional loan application, Lending Club is blissfully easy. To qualify, borrowers need only an active bank account, a minimum FICO credit score of 660 ... and at least three years of credit history. What lenders are really doing is investing: they’re putting their money in notes backed by the prospective repayment of loans. The sizes of the loans range from $1,000 to $35,000. Investors can buy notes in increments as small as $25. Since its founding in 2006, Lending Club has delivered investors an average annual return of 7.79%–appealing at a time when three-year Treasury bonds average 1%.
Note: Curious about emerging alternatives to traditional banking? Learn more about the inspiring microcredit movement.
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.