News ArticlesExcerpts of Key News Articles in Major Media
Note: Explore our full index to revealing excerpts of key major media news articles on dozens of engaging topics. And read excerpts from 20 of the most revealing news articles ever published.
Expert comparisons of hair, handwriting, marks made by firearms on bullets, and patterns such as bite marks and shoe and tire prints are in some ways unscientific and subject to human bias, a National Academy of Sciences panel chartered by Congress found. Even fingerprint identification is partly a subjective exercise that lacks research into the role of unconscious bias or even its error rate, the panel’s 328-page report said. Since 2002, failures have been reported at about 30 federal, state and local crime labs serving the FBI, the Army and eight of the nation’s 20 largest cities. A 2009 study of post-conviction DNA exonerations — now up to 289 nationwide — found invalid testimony in more than half the cases. FBI examiners claimed until recently that they can match fingerprints to the exclusion of any other person in the world with 100 percent certainty. The academy report found that assertion was “not scientifically plausible” and had chilled research into error rates. In 1999, a Justice Department official, Richard Rau, told a federal court that the department delayed such a study because of the legal ramifications. Meanwhile, errors occur. In 2004, DNA for the first time exonerated a person convicted with a fingerprint match and, separately, the FBI made its first publicly acknowledged fingerprint misidentification. Brandon Mayfield, a Portland, Ore., lawyer, mistakenly was arrested in connection with the terrorist train bombings in Madrid that killed 191 people.
Note: A Washington Post investigation recently found that over a 20 year period, "nearly every examiner in an elite FBI forensic unit gave flawed testimony in almost all trials in which they offered evidence". For more along these lines, see concise summaries of deeply revealing news articles about the corrupt prison industry built upon by systematic violations of civil rights.
On April 19, 1995, a huge truck bomb destroyed a large part of the Alfred P. Murrah Federal Building in Oklahoma City ... killing 168 people, including 19 children. In a matter of days the FBI established that the bombing was the work of a conspiracy. The first conspirator arrested was Timothy McVeigh, a 27-year-old Army veteran. The second conspirator arrested was Terry Nichols. "Oklahoma City," an extraordinarily well-researched book, asserts that the FBI investigation of the bombing was badly flawed and missed, or disregarded, evidence of a larger conspiracy. The authors, Andrew Gumbel and Roger Charles, are both highly regarded investigative reporters who have been immersed in this case for more than a decade. They were given access to vast amounts of material assembled by the defense teams, including 18,000 FBI witness interviews. The book ... outlines how federal prosecutors, eager to wrap up the McVeigh and Nichols cases, avoided raising questions about possible co-conspirators that the defense could use to confound a jury. Among the glaring gaps in the investigation was the failure of the FBI to attempt to match the more than 1,000 unidentified latent fingerprints found in the investigation. [And] almost all the eyewitnesses to the crime claimed that McVeigh was not alone. No fewer than 24 witnesses said that they saw McVeigh, just before and after the crime, with a man who could not have been ... Mr. Nichols. The FBI concluded that these witnesses had all been confused. Certainly eyewitness testimony can be unreliable, but 24 mistaken witnesses—and no accurate ones?
Note: Many aspects of the Oklahoma City bombing were covered up. For a compilation of media videos showing without doubt there were other bombs in the building which later were completely ignored, click here. For other major media articles showing major manipulation, click here click here, here, and here.
A man whose lies helped to make the case for invading Iraq – starting a nine-year war costing more than 100,000 lives and hundreds of billions of pounds – will come clean in his first British television interview tomorrow [click here for interview]. "Curveball", the Iraqi defector who fabricated claims about Iraq's weapons of mass destruction, smiles as he confirms how he made the whole thing up. It was a confidence trick that changed the course of history, with Rafid Ahmed Alwan al-Janabi's lies used to justify the Iraq war. The chemical engineer claimed to have overseen the building of a mobile biological laboratory when he sought political asylum in Germany in 1999. His lies were presented as "facts and conclusions based on solid intelligence" by Colin Powell, US Secretary of State, when making the case for war at the UN Security Council in February 2003. But Mr Janabi ... says none of it was true. US officials "sexed up" Mr Janabi's drawings of mobile biological weapons labs to make them more presentable, admits Colonel Lawrence Wilkerson, General Powell's former chief of staff. "I brought the White House team in to do the graphics," he says, adding how "intelligence was being worked to fit around the policy". Another revelation ... is the real reason why the FBI swooped on Russian spy Anna Chapman in 2010. Top officials feared the glamorous Russian agent wanted to seduce one of US President Barack Obama's inner circle. The fear that Chapman would compromise a senior US official in a "honey trap" was a key reason for the arrest and deportation of the Russian spy ring of 10 people.
Note: For a Washington Post blog on this important development, click here. For a revealing essay by a top U.S. general on major war manipulations, click here. For many major media articles on this topic, click here.
[On March 8, 2012], President Obama signed into law the Federal Restricted Buildings and Grounds Improvement Act of 2011. This law permits Secret Service agents to designate any place they wish as a place where free speech, association and petition of the government are prohibited. It permits the Secret Service to make these determinations based on the content of speech. Thus, federal agents whose work is to protect public officials and their friends may prohibit the speech and the gatherings of folks who disagree with those officials or permit the speech and the gatherings of those who would praise them, even though the First Amendment condemns content-based speech discrimination by the government. The new law also provides that anyone who gathers in a “restricted” area may be prosecuted. Permitting people to express publicly their opinions to the president only at a time and in a place and manner such that he cannot hear them violates the First Amendment, which guarantees the right to useful speech. The same may be said of the rights to associate and to petition. If peaceful public assembly and public expression of political demands on the government can be restricted to places where government officials cannot be confronted, then those rights, too, have been neutered. This abominable legislation enjoyed overwhelming support from both political parties in Congress because the establishment loves power, fears dissent and hates inconvenience, and it doesn’t give a damn about the Constitution.
Note: How strange that the Washington Times was one of the few media to have even covered this incredible infringement on the right to free speech. Fox News also covered it, as you can see in this excellent video. Now instead of being a country where free speech is held in great esteem, the US has "free speech zones" outside of which citizens lose their right to speak freely. What's happening here?
Government officials have openly discussed details of the mission [to kill Osama bin Laden] in speeches, interviews and television appearances, but the administration won't disclose records that would confirm their narrative of that fateful night. The Associated Press asked for files about the raid in more than 20 separate [FOIA] requests, mostly submitted the day after bin Laden's death. The Pentagon told the AP this month it could not locate any photographs or video taken during the raid or showing bin Laden's body. It also said it could not find any images of bin Laden's body on the Navy aircraft carrier where the al-Qaida leader's body was taken. The Pentagon said it could not find any death certificate, autopsy report or results of DNA identification tests for bin Laden, or any pre-raid materials discussing how the government planned to dispose of bin Laden's body if he were killed. It said it searched files at the Pentagon, U.S. Special Operations Command in Tampa, Fla., and the Navy command in San Diego that controls the USS Carl Vinson, the aircraft carrier used in the mission. The Defense Department told the AP in late February it could not find any emails about the bin Laden mission or his "Geronimo" code name that were sent or received in the year before the raid by William McRaven, the three-star admiral at the Joint Special Operations Command who organized and oversaw the mission. It also could not find any emails from other senior officers who would have been involved in the mission's planning.
Note: WantToKnow team member Prof. David Ray Griffin, in his book Osama bin Laden: Dead or Alive?, lays out the extensive evidence that bin Laden died in December 2001, and that since that time Pentagon psyops had been keeping him "alive" with fake videos and audiotapes to maintain a crucial pretext for the ever-expanding "war on terror." Could it be that the Pentagon will produce no records of its purported "death raid" because in fact it will reveal major manipulations involving bin Laden's death?
Today is my last day at Goldman Sachs. Over the course of my career I have had the privilege of advising two of the largest hedge funds on the planet [and] five of the largest asset managers in the United States. My clients have a total asset base of more than a trillion dollars. After almost 12 years at the firm ... I believe I have worked here long enough to understand ... its culture, its people and its identity. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it. To put the problem in the simplest terms, the interests of the client continue to be sidelined in the way the firm operates and thinks about making money. Today, if you make enough money for the firm (and are not currently an ax murderer) you will be promoted into a position of influence. What are three quick ways to become a leader? a) Execute on the firm's "axes," which is Goldman-speak for persuading your clients to invest in the stocks or other products that we are trying to get rid of because they are not seen as having a lot of potential profit. b) "Hunt Elephants." In English: get your clients -- some of whom are sophisticated, and some of whom aren't -- to trade whatever will bring the biggest profit to Goldman. c) Find yourself sitting in a seat where your job is to trade any illiquid, opaque product with a three-letter acronym. I attend derivatives sales meetings where not one single minute is spent asking questions about how we can help clients. It's purely about how we can make the most possible money off of them.
Note: The author of this article, Greg Smith, was a Goldman Sachs executive director and head of the firm’s United States equity derivatives business in Europe, the Middle East and Africa. For an excellent compilation of news articles and government documents showing the huge risk of the derivatives bubble being manipulate by Goldman Sachs and others, click here.
A battle between a class of fourth graders and a major movie studio would seem an unequal fight. So it proved to be: the studio buckled. And therein lies a story of how new Internet tools are allowing very ordinary people to defeat some of the most powerful corporate and political interests around — by threatening the titans with the online equivalent of a tarring and feathering. Take Ted Wells’s fourth-grade class in Brookline, Mass. The kids read the Dr. Seuss story “The Lorax” and admired its emphasis on protecting nature, so they were delighted to hear that Universal Studios would be releasing a movie version in March. But when the kids went to the movie’s Web site, they were crushed that the site seemed to ignore the environmental themes. So last month they started a petition on Change.org, the go-to site for Web uprisings. They demanded that Universal Studios “let the Lorax speak for the trees.” The petition went viral, quickly gathering more than 57,000 signatures, and the studio updated the movie site with the environmental message that the kids had dictated. “It was exactly what the kids asked for — the kids were through the roof,” Wells [said], recalling the celebratory party that the children held during their snack break. “These kids are really feeling the glow of making the world a better place. They’re feeling that power.” Change.org has grown from 20 employees a year ago to 100 now, in offices on four continents.
Note: Never doubt that a small group of committed people can make a big difference. For lots more inspiring new articles like this, click here.
Membranes based on the "miracle material" graphene can be used to distil alcohol, according to a new study in Science [magazine]. An international team created the membrane from graphene oxide - a chemical derivative of graphene. They have shown that the membrane blocks the passage of several gases and liquids, but lets water through. This joins a long list of fascinating and unusual properties associated with graphene and its derivatives. Graphene ... is a flat layer of carbon atoms tightly packed into a two-dimensional honeycomb arrangement. Because it is so thin, it is also practically transparent. As a conductor of electricity, it performs as well as copper; and as a conductor of heat, it outperforms all other known materials. The unusual electronic, mechanical and chemical properties of graphene at the molecular scale promise numerous applications. Andrei Geim and Konstantin Novoselov from the University of Manchester were awarded 2010's Nobel Prize in physics for their discovery [of graphene]. Geim and others have now developed a laminate made from thin sheets of graphene oxide. These films were hundreds of times thinner than a human hair but remained strong, flexible and easy to handle. In another study in Science journal, a different team reports the development of a membrane based on diamond-like carbon. This membrane has unique pore sizes that allow for the ultra-fast passage of oil through it. One expert said it could potentially be used for filtering toxic contaminants out of water or for purifying industrial chemicals.
Note: To read about the exciting potential of this miracle material to create fresh water from salt water, click here. For revealing media articles on amazing energy inventions, most of which are not getting nearly the attention they deserve, click here.
Rape in the American armed forces is an issue that has quietly been gathering attention over the past decade. The documentary "The Invisible War" [is] a devastating indictment of the government's inaction on the issue. Director Kirby Dick brought a powerful weapon to his film: victim after eloquent victim, Navy, Marine, Coast Guard, Army and Air Force veterans who were assaulted by fellow officers, supervisors or recruits. They tell their stories in courageous detail, and it quickly becomes clear that these are not isolated incidents but a pattern reflective of a widespread rot within America's military institution, one that betrays its essential values. One Marine, Ariana Klay, was raped by a fellow officer in the elite Marine Barracks in Washington, D.C. A Navy officer, Trina McDonald, was drugged and raped repeatedly by fellow officers on a remote base in Alaska. Coast Guard recruit Kori Cioca was raped and then assaulted -- smacked so hard in the face that it dislocated her jaw, causing her permanent damage and pain for which the Veterans Administration declines to provide medical coverage. Every woman in the film has had her life shattered by this event -- not necessarily because of the rape, but because of the response by the military establishment. After lodging complaints, the women were met with indifference or targeted retaliation. They have had to leave the military. Some were threatened with violence. Almost none of the alleged perpetrators were brought up on charges or punished in any way.
Note: As this article appears to have disappeared from the Tribune website, you can also find it on the Reuters website at this link. To learn about documented sexual abuse in secret CIA mind control programs, click here. For lots more on sexual abuse scandals from major media sources, click here.
In 2006 ... the Centers for Disease Control and Prevention in Atlanta and the World Health Organization in Geneva warned of the imminent onset of an avian flu "pandemic" of lethal proportions. The pandemic never occurred. After reviewing studies of Tamiflu during the avian flu scare, Dr. Tom Jefferson ... had concluded in a 2006 report that the drug was effective. "But," said the article, "several years later, another physician challenged that conclusion because 8 of 10 studies in a meta-analysis — a review of studies — that Jefferson relied on had never been published." That prompted Jefferson to seek the raw data. "He was stymied when several authors and the manufacturer gave one excuse after another for why it couldn't supply the actual data. Jefferson's concern turned to outrage when two employees of a communications company … [revealed] they had been paid to ghostwrite some of the Tamiflu studies [and] had been given explicit instructions to ensure that a key message was embedded in the articles: Flu is a threat, and Tamiflu is the answer. "After reanalyzing the raw data finally made available (they still don't have it all), Jefferson and his colleagues published their review [in December 2009], saying that once the unpublished studies were excluded, there was no proof that Tamiflu reduced serious flu complications like pneumonia or death." In short, it appears the pharmaceutical companies had been as cunning in conning the public on matters of health as Wall Street had been on matters of wealth.
Note: For powerful media reports suggesting that both the Avian Flu and Swine Flu were incredibly manipulated to promote fear and boost pharmaceutical sales, click here. For lots more from reliable sources on pharmaceutical corruption, click here.
Even as we pass judgment on countries we consider unfree, Americans remain confident that any definition of a free nation must include their own — the land of [the] free. Yet ... in the decade since Sept. 11, 2001, this country has comprehensively reduced civil liberties in the name of an expanded security state. The most recent example of this was the National Defense Authorization Act, signed Dec. 31, which allows for the indefinite detention of citizens. While each new national security power Washington has embraced was controversial when enacted, they are often discussed in isolation. But they don’t operate in isolation. They form a mosaic of powers under which our country could be considered, at least in part, authoritarian. Americans often proclaim our nation as a symbol of freedom to the world while dismissing nations such as Cuba and China as categorically unfree. [Yet] the United States now has much more in common with such regimes than anyone may like to admit. These countries also have constitutions that purport to guarantee freedoms and rights. But their governments have broad discretion in denying those rights and few real avenues for challenges by citizens — precisely the problem with the new laws in this country. The list of powers acquired by the U.S. government since 9/11: 1. Assassination of U.S. citizens. 2. Indefinite detention. 3. Arbitrary justice. 4. Warrantless searches. 5. Secret evidence. 6. War crimes. 7. Secret court. 8. Immunity from judicial review. 9. Continual monitoring of citizens. 10. Extraordinary renditions.
Note: Thank you to the Washington Post for publishing this amazing article revealing the disturbing and severe erosion of freedom and civil liberties in the U.S. ever since 9/11. Written by Professor Jonathan Turley of George Washington University in the nation's capital, this incisive essay lays bare what so many citizens don't know, and what many don't even want to know. Yet, in this case, ignorance is not bliss. Don't miss the full article listing the loss of 10 important civil liberties at this link.
Americans have never much liked government. After all, the nation was conceived in a revolution against government. But the surge of cynicism engulfing America isn't about how big government has become. It's a growing perception that our government is no longer working for average people. It's for big business, Wall Street and the very rich. The richest Americans are taking home a bigger share of total income than at any other time since the 1920s. Their tax payments are down because the Bush tax cuts reduced their top rates to the lowest level in more than half a century, and cut capital gains taxes to 15 percent. Congress hasn't even closed a loophole that allows mutual-fund and private-equity managers to treat their incomes as capital gains. So the 400 richest Americans, whose total wealth exceeds the combined wealth of the bottom 150 million Americans put together, pay an average of 17 percent of their income in taxes. That's lower than the tax rates of most day laborers. And the share of revenues coming from corporations has been dropping. The biggest, like GE, find ways to pay no federal taxes at all. Many shelter their income abroad, and every few years Congress grants them a tax amnesty to bring the money home. Get it? "Big government" isn't the problem. The problem is the big money that's taking over government. Government is doing less of the things most of us want it to do ... and more of the things big corporations, Wall Street and the wealthy want it to do.
Note: The author of this analysis, Robert Reich, is a former U.S. secretary of labor, is professor of public policy at UC Berkeley and the author of Aftershock: The Next Economy and America's Future. He blogs at www.robertreich.org.
Pasi Sahlberg, a Finnish educator and author, [said that in] his country, ... teachers typically spend about four hours a day in the classroom, and are paid to spend two hours a week on professional development. At the University of Helsinki, where he teaches, 2,400 people competed last year for 120 slots in the (fully subsidized) masters program for schoolteachers. Its more difficult getting into teacher education than law or medicine, he said. Dr. Sahlberg puts high-quality teachers at the heart of Finlands education success story. Ever since Finland, a nation of about 5.5 million that does not start formal education until age 7 and scorns homework and testing until well into the teenage years, scored at the top of a well-respected international test in 2001 in math, science and reading, it has been an object of fascination among American educators and policy makers. Finlandophilia only picked up when the nation placed close to the top again in 2009, while the United States ranked 15th in reading, 19th in math and 27th in science. In Helsinki, the Education Ministry has had 100 official delegations from 40 to 45 countries visit each year since 2005. Dr. Sahlberg said a turning point was a government decision in the 1970s to require all teachers to have masters degrees and to pay for their acquisition. Finland scorns almost all standardized testing before age 16 and discourages homework, and it is seen as a violation of childrens right to be children for them to start school any sooner than 7, Dr. Sahlberg said.
Note: The US continues to push for more testing, while Finland shows that less testing and homework gives better results. For an excellent article on this in the Washington Post, click here. For more astounding facts on Finland's education success, click here.
Imam Salahuddin Muhammad could hardly miss Shahed Hussain when he first appeared three years ago at his mosque in the dilapidated town of Newburgh, just 60 miles up the Hudson River from New York. Hussain was flash, drove expensive cars and treated people to gifts of cash and food. Hussain would make Newburgh's Muslim community famous when earlier this year four other black Newburgh Muslims were jailed for 25 years for a 2009 plot to fire a Stinger missile at US military planes. All four followed the instructions of Hussain, who meticulously organised the scheme: from getting the missile and bombs, to reconnaissance missions, to teaching the tenets of radical Islam. Hussain was a fake. In fact, Hussain worked for the FBI as an informant trawling mosques in hope of picking up radicals. Yet far from being active militants, the four men he attracted were impoverished individuals struggling with Newburgh's grim epidemic of crack, drug crime and poverty. Hussain offered the men huge financial inducements to carry out the plot – including $250,000 to one man – and free holidays and expensive cars. The Newburgh Four ... represent the most extreme form of a controversial FBI policy to use invented terrorist plots to lure targets. "There has been no case as egregious as this. It is unique in the incentive the government provided. A quarter million dollars?" said Professor Karen Greenberg, a terrorism expert at Fordham University.
Note: For a powerful BBC documentary showing clearly that much of the war on terror is a fabrication to forward a political agenda, watch Power of Nightmares at this link. For many reports from major media sources on the fake terror behind the "global war on terror", click here.
The OCC’s quarterly report on trading revenues and bank derivatives activities is based on Call Report information provided by all insured U.S. commercial banks and trust companies, reports filed by U.S. financial holding companies, and other published data. The notional amount of derivatives held by insured U.S. commercial banks decreased $1.4 trillion, or 0.6%, from the second quarter of 2011 to $248 trillion. Notional derivatives are 5.7% higher than at the same time last year. Derivatives activity in the U.S. banking system continues to be dominated by a small group of large financial institutions. The five banks with the most derivatives activity hold 96% of all derivatives. Insured commercial banks have more limited legal authorities than do their holding companies.
Note: Graphs in this OCC report (pg. 25 & 26) show that five U.S. banks, JPMorgan Chase, Citibank, BofA, Goldman Sachs, and Morgan Stanley, hold $235 of the $248 trillion above, while their holding companies control an additional $311 of the $326 trillion in derivatives held by holding companies. So these five banks and their holding companies combined hold $546 trillion in derivatives, 95% of the U.S. derivatives market, nearly 80% of the global market, and equivalent to over $75,000 for every person on the planet. If the above link fails, click here. For quarterly derivative reports by the OCC going back to 1995, click here.
The federal government has not done enough to oversee the treatment of America's foster children with powerful mind-altering drugs, according to a Government Accountability Office (GAO) report. The GAO's report, based on a two-year-long investigation, looked at five states - Florida, Massachusetts, Michigan, Oregon and Texas. Thousands of foster children were being prescribed psychiatric medications at doses higher than the maximum levels approved by the Food and Drug Administration (FDA) in these five states alone. And hundreds of foster children received five or more psychiatric drugs at the same time despite absolutely no evidence supporting the simultaneous use or safety of this. Overall, the GAO ... found that more than one-fourth of foster children were prescribed at least one psychiatric drug, [and] were prescribed psychotropic drugs at rates up to nearly five times higher than non-foster children. The chances of a foster child compared to a non-foster child being given five or more psychiatric drugs at the same time were alarming. In Texas, foster children were 53 times more likely to be prescribed five or more psychiatric medications at the same time than non-foster children. Foster children were also more than nine times more likely than non-foster children to be prescribed drugs for which there was no FDA-recommended dose for their age. For ... those less than 1 year old, foster children were nearly twice as likely to be prescribed a psychiatric drug compared to non-foster children.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the pharmaceutical industry.
A well-known Washington lobbying firm with links to the financial industry has proposed an $850,000 plan to take on Occupy Wall Street and politicians who might express sympathy for the protests, according to a memo obtained by [MSNBC]. The proposal was written on the letterhead of the lobbying firm Clark Lytle Geduldig & Cranford and addressed to one of CLGC’s clients, the American Bankers Association. CLGC’s memo proposes that the ABA pay CLGC $850,000 to conduct “opposition research” on Occupy Wall Street in order to construct “negative narratives” about the protests and allied politicians. Two of the memo’s authors, partners Sam Geduldig and Jay Cranford, previously worked for House Speaker John Boehner, R-Ohio. The memo outlines a 60-day plan to conduct surveys and research on OWS and its supporters so that Wall Street companies will be prepared to conduct a media campaign in response to OWS. Wall Street companies “likely will not be the best spokespeople for their own cause,” according to the memo. “A big challenge is to demonstrate that these companies still have political strength and that making them a political target will carry a severe political cost.”
Note: For key reports from reliable sources on the reasons why people nationwide are occupying their city centers in protest against the collusion between powerful corporate and government elites, click here.
It’s no secret that many members of the U.S. House and Senate are millionaires — 47 percent of them — their salaries paid in part by the American taxpayers. The Center for Responsive Politics has crunched the numbers and released the results on its Open Secrets blog: “About 47 percent of Congress, or 249 current members are millionaires. In 2010, the estimated median net worth of a current U.S. senator stood at an average of $2.56 million. Despite the global economic meltdown in 2008 and the sluggish recovery that followed, that’s up about 7.6 percent from an estimated median net worth of $2.38 million in 2009 … and up 13 percent from a median net worth of $2.27 million in 2008. Fully 36 Senate Democrats, and 30 Senate Republicans reported an average net worth in excess of $1 million in 2010. The same was true for 110 House Republicans and 73 House Democrats.” “The vast majority of members of Congress are quite comfortable, financially, while many of their own constituents suffer from economic hardships,” said Sheila Krumholz at the Center For Responsive Politics. “Few Americans enjoy the same financial cushions maintained by most members of Congress — or the same access to market-altering information that could yield personal, financial gains.”
Note: For key reports on major media control of information and cover-ups, click here.
The same insider trading that can land a regular citizen in jail is perfectly legal for members of Congress. Steve Kroft reports on how America's lawmakers can legally make tidy profits on information only they know, simply because they won't pass a law against themselves. Among the revelations in Kroft's report: Members of Congress have bought stock in companies while laws that could affect those companies were being debated in the House or Senate. At least one representative made significant stock purchases the day after he and other members of Congress attended a secret meeting in September 2008, where the Fed chair and the treasury secretary informed them of the imminent global economic meltdown. The meeting was so confidential that cell phones and other digital devices were confiscated before it began. Efforts to make such insider trading off limits to Washington's lawmakers have never been able to get traction. Former Rep. Brian Baird says he spent half of his 12 years in Congress trying to get co-sponsors for a bill that would ban insider trading in Congress and also set some rules up to govern conflicts of interest. In 2004, he and Rep. Louise Slaughter introduced the "Stock Act" to stop the insider trading. How far did they get? "We didn't get anywhere. Just flat died," he tells Kroft.
Note: To better understand how the US Congress protects itself in insider trading, read this NPR article and this one from the Intercept.
Ethics reforms put in place since the influence-peddling scandal surrounding high-rolling lobbyist Jack Abramoff haven't cleaned up the system "at all," a now-free Abramoff says. Abramoff served three and a half years in prison for conspiracy, fraud and tax evasion before his release last December. In an interview ... on CBS News' "60 Minutes," he said the reforms imposed after his guilty plea have little effect while campaign finance remains untouched. "You can't take a congressman to lunch for $25 and buy him a hamburger or a steak or something like that," he said. "But you can take him to a fund-raising lunch and not only buy him that steak, but give him $25,000 extra and call it a fund-raiser -- and have all the same access and all the same interactions with that congressman." Abramoff's interview with "60 Minutes" aired the night before a memoir, Capitol Punishment, is scheduled to hit shelves. Abramoff describes some of the techniques he employed as a lobbyist as "evil," "terrible" and, at the same time, "effective" for his firm, his clients and Republican politicians he usually worked with. Abramoff said the best way to get what he wanted to was to offer high-ranking congressional aides a job when they left public office. Once that was done, he told CBS, "We owned them." "Everything that we want, they're going to do. Not only that, they're going to think of things we can't think of to do," Abramoff said, estimating his office had "very strong influence" on 100 of the 535 congressional offices.
Note: For a powerful, six-minute analysis of legalized corruption based on Abramoff's comments on CBS 60 Minutes, click here. A petty thief steals three times for a total value of a few thousand dollars and by the "three strikes" law ends up in jail for life. Abramoff, along with his assistants, successfully corrupt U.S. Senators and Congress members and serve less than four years in jail. Some of his assistants got off with no jail time. Is the US justice system biased towards the rich?
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.