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Excerpts of Key News Articles in Major Media


Below are key excerpts of little-known, yet highly revealing news articles from the media. Links are provided to the full news articles for verification. If any link fails to function, read this webpage. These articles are listed by order of importance. You can also explore these articles listed by order of the date of the news article or by the date posted. By choosing to educate ourselves, we can build a brighter future.

Note: Explore our full index to revealing excerpts of key major media news articles on dozens of engaging topics. And read excerpts from 20 of the most revealing news articles ever published.


Jesse Ventura searches for coverups
2009-11-29, Los Angeles Times
http://www.latimes.com/entertainment/news/la-ca-conversation29-2009nov29,0,17...

Jesse Ventura is back. The former pro wrestler, who served as Minnesota governor from 1999 to 2003, is the host of "Conspiracy Theory," an investigative series ... on truTV. [Q:] On "Conspiracy Theory," you investigate secret societies and supposed government coverups. Such theories are everywhere, but really, what big conspiracy has ever been proven? [Ventura:] How can you prove it? That's the point. The better part would be to ask, "How many of the government's points have ever been proven?" I find what's most interesting about doing this show is how the government will not participate or allow you in or answer any questions. We're not allowed to question our government. [Q:] One of the alleged coverups you investigate involves 9/11. Do you believe the terrorist attacks were an inside job? [Ventura:] I believe that the government has not been truthful with us about it. Yes, absolutely. That there's massive holes in the story they've told. That none of these questions have ever been adequately addressed. All evidence has been destroyed, pretty much. [Q:] Why would the government want to do such things? {Ventura:} Well, what changed after 9/11? We're in two wars, passage of Patriot Act and all that. Our entire society changed that day. We've become paranoid. We think there's a terrorist behind every tree. I live in Mexico half the year. And when I'm down there, for six months, I never hear the word "terrorism." When I'm up here, I can't go a day without hearing it.

Note: Many government officials, like Jesse Ventura, have questioned the official explanation of the 9/11 attacks. To read their questions, click here.


A list for those who complain
2009-11-29, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/11/29/IN941APQS7.DTL

In spring 2007, as one of many American air travelers who were inconvenienced when our names popped up on a federal "watch list," I never could get straight answers from my government. Was this a mistake, or was I being flagged for some reason? How many Americans were on that watch list? What were the criteria for getting on it? I filed my appeal with the Department of Homeland Security's Travel Redress Inquiry Program (TRIP). The Department of Homeland Security received 75,315 requests for redress under the TRIP program as of Oct. 31. Of those requests, 49,826 have been adjudicated, 7,217 are under review, and 18,272 are awaiting supporting documentation, according to the DHS. "Absolutely, the system didn't work as well as it should have," said Suzanne Trevino, a spokeswoman for the Transportation Security Administration. Once an airline receives a passenger's control number, along with full name, date of birth and gender, that information is transmitted to the government for clearance. Fewer than 2,500 known and suspected terrorists are actually on the "no fly" list, according to Trevino. And less than 10 percent of them are Americans. [Yet] the FBI's Terrorist Screening Center has acknowledged that its watch list has more than 1 million entries of names and aliases representing about 400,000 people [with] with an average of 1,600 people who presented a "reasonable suspicion" being added every day.

Note: For many revealing reports from major media sources on the worsening threats to civil liberties, click here.


Health care lessons from Europe
2009-11-29, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2009/11/29/MN3U1AL75B.DTL

Critics point to Canada and Britain as the poster children of what could happen here with a "government takeover" of health coverage. But three other wealthy nations - the Netherlands, Switzerland and Germany - offer much closer parallels, as well as lessons. Health care systems in the three nations more closely resemble the U.S. system of insurance-based coverage. Holland and Switzerland rely exclusively on private insurance, and all three rely on private doctors. The three European nations deliver universal coverage and world-class quality at a fraction of what Americans spend. All of them require that everyone purchase insurance, make sure everyone can afford it and ban insurers from such practices as refusing to cover the sick that are common in the United States. European health care is universal, but contrary to popular perception, it is not all nationalized. Most of Europe spends about 10 percent of its national income on health care and covers everyone. The United States will spend 18 percent this year and leave 47 million people uninsured. Europe has more doctors, more hospital beds and more patient visits than the United States. Take Switzerland: 4.9 doctors per thousand residents compared with 2.4 in the United States. And cost? The average cost for a hospital stay is $9,398 in relatively high-cost Switzerland and $17,206 in the United States.

Note: Maybe it boils down to whether we want our health controlled more by profit motive or by government bureaucracies One thing is for sure, the average U.S. citizen is getting much less for a greater cost than those in other developed countries.


Website Wikileaks publishes '9/11 messages'
2009-11-26, BBC News
http://news.bbc.co.uk/2/hi/americas/8379960.stm

A website has published what it says are 573,000 intercepted pager messages sent during the 9/11 attacks in the United States. WikiLeaks says it will not reveal who gave it the messages - some of which are from federal agencies as well as ordinary citizens. Internet analysts say they believe the messages are genuine but federal authorities have refused to comment. The messages are not all about the attacks. Some are mundane questions about what people are having for lunch. However, many are about the deadly plane attacks and range from people trying to find out if their loved ones are safe to government messages. They include messages such as * This is Myrna, I will not rest until you get home, the second tower is down, I don't want to have to keep calling you after every event. Pls just go home * Bomb detonated in World Trade Ctr. Pls get back to Mike Brady w/ a quick assessment of your areas and contact us if anything is needed. New York's fire and police departments said they could not comment on whether messages purportedly sent from them were genuine while the US Secret Service refused to comment. WikiLeaks allows people to anonymously post documents on the web, saying its aim is to promote transparency. It was created in 2006 by dissidents, journalists, mathematicians and technologists from the US, Taiwan, Europe, Australia and South Africa.

Note: For questions raised by hundreds of highly respected and credible officials, academics and professionals about what really happened on 9/11, click here and here.


Fannie, Freddie Can Now Get Unlimited Aid
2009-11-25, CBS News/Associated Press
http://www.cbsnews.com/stories/2009/12/25/politics/main6021668.shtml

The government has handed its ATM card to beleaguered mortgage giants Fannie Mae and Freddie Mac. The Treasury Department said [it had] removed the $400 billion financial cap on the money it will provide to keep the companies afloat. Already, taxpayers have shelled out $111 billion to the pair. By making the change before year-end, Treasury sidestepped the need for an OK from a bailout-weary Congress. "The companies are nowhere close to using the $400 billion they had before, so why do this now?" said Bert Ely, a banking consultant in Alexandria, Va. The news followed an announcement Thursday that the CEOs of Fannie and Freddie could get paid as much as $6 million for 2009, despite the companies' dismal performances this year.

Note: For many reliable reports on the government bailout of Wall Street and the financial industry, click here.


Wall St. Finds Profits by Reducing Mortgages
2009-11-22, New York Times
http://www.nytimes.com/2009/11/22/business/22loans.html

Wall Street has found a way to make money from the mortgage mess. Investment funds are buying billions of dollars’ worth of home loans, discounted from the loans’ original value. Then, in what might seem an act of charity, the funds are helping homeowners by reducing the size of the loans. But as part of these deals, the mortgages are being refinanced through lenders that work with government agencies like the Federal Housing Administration. This enables the funds to pocket sizable profits by reselling new, government-insured loans to other federal agencies, which then bundle the mortgages into securities for sale to investors. While homeowners save money, the arrangement shifts nearly all the risk for the loans to the federal government — and, ultimately, taxpayers — at a time when Americans are falling behind on their mortgage payments in record numbers. The trick is to persuade the homeowners to refinance those mortgages, by offering to reduce the amounts the homeowners owe. The profit comes when the refinancings reach more than the [amount] that the fund paid for the block of loans. The strategy has created an unusual alliance between Wall Street funds that specialize in troubled investments — the industry calls them “vulture” funds — and American homeowners. But the transactions also add to the potential burden on government agencies, particularly the F.H.A., which has lately taken on an outsize role in the housing market and, some fear, may eventually need to be bailed out at taxpayer expense.

Note: For many revealing reports from reliable sources on the realities behind the Wall Street bailout, click here.


US builds up its bases in oil-rich South America
2009-11-22, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/news/world/americas/us-builds-up-its-bases-in-oi...

The United States is massively building up its potential for nuclear and non-nuclear strikes in Latin America and the Caribbean by acquiring unprecedented freedom of action in seven new military, naval and air bases in Colombia. The new US push is part of an effort to counter the loss of influence it has suffered recently at the hands of a new generation of Latin American leaders no longer willing to accept Washington's political and economic tutelage. President Rafael Correa, for instance, has refused to prolong the US armed presence in Ecuador, and US forces have to quit their base at the port of Manta by the end of next month. So Washington turned to Colombia. The country has received military aid worth $4.6bn (Ł2.8bn) from the US since 2000, despite its poor human rights record. Colombian forces regularly kill the country's indigenous people and other civilians, and last year raided the territory of its southern neighbour, Ecuador, causing at least 17 deaths. This being US foreign policy, a tell-tale trail of oil is evident. The fact that the US gets half its oil from Latin America was one of the reasons the US Fourth Fleet was re-established in the region's waters in 2008. The fleet's vessels can include Polaris nuclear-armed submarines – a deployment seen by some experts as a violation of the 1967 Tlatelolco Treaty, which bans nuclear weapons from the continent. With or without nuclear weapons, the bilateral agreement on the seven Colombian bases, signed on 30 October in Bogota, risks a costly new arms race in a region.

Note: American dependence on foreign oil fuels not only US wars in the Middle East and Central Asia but an ever escalating global militarization. For many promising reports from reliable sources on alternatives to oil for many purposes, click here.


In Ukraine, H1N1 pandemic sets off panic and politicking
2009-11-21, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/11/20/AR20091120040...

As the pandemic H1N1 influenza surges with the onset of winter, the nations of Eastern Europe and the former Soviet Union appear particularly vulnerable to the deadly virus. Burdened with weak health-care systems, relatively inexperienced news media outlets and shaky governments that have little public trust, the region also seems ripe for panic and political strife over the flu. The potential for trouble is already on display in Ukraine, where 1.5 million of its 46 million people have had diagnoses of flu and respiratory illnesses since the start of the outbreak and 356 have died, according to the government. More telling than the numbers, however, has been the widespread fear the virus has caused in Ukraine, and the outsize impact it has had on the nation's political landscape. Anxious residents have overwhelmed hospitals and pharmacies, buying up supplies of medicine, gauze masks and home remedies such as lemons and garlic. Rumors have proliferated that people are dying of a new, more lethal strain of the virus. Semyon Gluzman, a psychiatrist and Soviet-era dissident in Kiev, said the fear was a rational response in a nation with a dysfunctional health-care system and a corrupt, ineffective government. "What we're seeing is a normal, psychological reaction to the complete incompetence of the state authorities," he said. "People are scared, and they don't know who to trust anymore."


Plastic chemicals 'feminise boys'
2009-11-16, BBC News
http://news.bbc.co.uk/2/hi/health/8361863.stm

Chemicals in plastics alter the brains of baby boys, making them "more feminine", say US researchers. Males exposed to high doses in the womb went on to be less likely to play with boys' toys like cars or to join in rough and tumble games, they found. The University of Rochester team's latest work adds to concerns about the safety of phthalates, found in vinyl flooring and PVC shower curtains. The findings are reported in the International Journal of Andrology. Phthalates have the ability to disrupt hormones, and have been banned in toys in the EU for some years. There are many different types and some mimic the female hormone oestrogen. The same researchers have already shown that this can mean boys are born with genital abnormalities. Now they say certain phthalates also impact on the developing brain, by knocking out the action of the male hormone testosterone. Dr Shanna Swan and her team ... found that two phthalates DEHP and DBP can affect play behaviour. Boys exposed to high levels of these in the womb were less likely than other boys to play with cars, trains and guns or engage in "rougher" games like playfighting. Elizabeth Salter-Green, director of the chemicals campaign group CHEM Trust, said the results were worrying. "We now know that phthalates, to which we are all constantly exposed, are extremely worrying from a health perspective, leading to disruption of male reproduction health and, it appears, male behaviour too."

Note: For further reports from reliable sources on important health issues, click here.


9/11's delayed legacy: cancer for many of the rescue workers
2009-11-11, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/world/2009/nov/11/cancer-new-york-rescuers

A spate of recent deaths of New York police and fire officers who took part in the emergency operation at Ground Zero after the 9/11 attacks has heightened fears that it could be the start of a delayed epidemic of cancer-related illness. Five firefighters and police officers, all of whom were involved in the rescue and clear-up at the site of the collapsed Twin Towers, have died of cancer in the past three months, the oldest being 44. Three died last month within a four-day period. Up to 70,000 people took part in the massive operation at Ground Zero, including police, firefighters and construction workers who came to New York voluntarily from all over the US. Many worked for months amid a toxic soup of dust and chemicals. Amid the pollutants within the giant pile of 1.8m tons of debris and the surrounding air were ... about 1,000 tons of asbestos that was used in the construction of the Twin Towers, pulverised lead from computers, mercury and highly carcinogenic by-products from the burning of plastics and chlorinated chemicals. No official tally is available for the number of those who have died as a result of the 9/11 clear-up. The New York state health department has recorded 817 deaths of emergency workers. Claire Calladine, a campaigner who runs the organisation 9/11 Health Now, said the fear was that the recent rise in cancer cases was just the start. "We have only seen the tip of the iceberg. How bad will it get – that is the big question."

Note: To read important questions raised by hundreds of government officials, academics and professionals about what really happened on 9/11, click here and here.


Report: Blackwater Sent $1M Bribe to Iraq
2009-11-11, CBS News/Associated Press
http://www.cbsnews.com/stories/2009/11/11/national/main5611339.shtml

[Four] former top executives at Blackwater Worldwide say the U.S. security contractor sent about $1 million to its Iraq office with the intention of paying off officials in the country who were angry about the fatal shootings of 17 civilians by Blackwater employees. Iraqis had long complained about ground operations by the North Carolina-based company, now known as Xe Corp. Then the shooting by Blackwater guards in Baghdad's Nisoor Square in September 2007 left 17 civilians dead, further strained relations between Baghdad and Washington and led U.S. prosecutors to bring charges against the Blackwater contractors involved. The State Department has since turned to DynCorp and another private security firm, Triple Canopy, to handle diplomatic protective services in the country. But Xe continues to provide security for diplomats in other nations, most notably in Afghanistan. The former executives told the [New York Times] that the payments were approved by the company's then-president, Gary Jackson. They did not know if he came up with the idea. Any payments would have been illegal under the U.S. Foreign Corrupt Practices Act, which bans bribes to foreign officials. Two of the former executives said they were directly involved in discussions about paying Iraqi officials, and the other two said they were told about the discussions by others at Blackwater.

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


Vatican Looks to Heavens for Signs of Alien Life
2009-11-10, ABC News/Associated Press
http://abcnews.go.com/Technology/wireStory?id=9047492

Four hundred years after it locked up Galileo for challenging the view that the Earth was the center of the universe, the Vatican has called in experts to study the possibility of extraterrestrial alien life and its implication for the Catholic Church. "The questions of life's origins and of whether life exists elsewhere in the universe are very suitable and deserve serious consideration," said the Rev. Jose Gabriel Funes, an astronomer and director of the Vatican Observatory. Funes, a Jesuit priest, presented the results ... of a five-day conference that gathered astronomers, physicists, biologists and other experts to discuss the budding field of astrobiology — the study of the origin of life and its existence elsewhere in the cosmos. The Church of Rome's views have shifted radically through the centuries since Italian philosopher Giordano Bruno was burned at the stake as a heretic in 1600 for speculating, among other ideas, that other worlds could be inhabited. Funes told Vatican newspaper L'Osservatore Romano that believing the universe may host aliens, even intelligent ones, does not contradict a faith in God. "How can we rule out that life may have developed elsewhere? Just as there is a multitude of creatures on Earth, there could be other beings, even intelligent ones, created by God. This does not contradict our faith, because we cannot put limits on God's creative freedom." Funes maintained that if intelligent beings were discovered, they would also be considered "part of creation."


Investors Beware
2009-11-07, New York Times
http://www.nytimes.com/2009/11/07/opinion/07sat2.html

Things turned Orwellian in the House Financial Services Committee this week when members — with the backing of the White House — passed an investor protection bill that would make it all too easy for thousands of publicly traded companies to cook their books. While the bill offers investors important protections ... an amendment was added to permanently exempt smaller public companies (worth less than $75 million) from a post-Enron auditing requirement. It passed with votes from 28 of the committee’s 29 Republicans (one was absent) and 9 Democrats. All clearly were more interested in pleasing corporate constituents than protecting investors who, last time we checked, are also constituents. While President Obama and Democratic leaders say they are committed to more transparency and regulation over derivatives — the complex instruments that were at the heart of the financial crisis — they are supporting a dangerous exemption for big businesses in the derivative reform bill pending in the House. Another House bill to protect consumers of financial products has concessions for big and small banks alike. It appears that the administration will support those concessions, too. Mr. Obama and his aides have said repeatedly that they are committed to closing the regulatory gaps that allowed the financial system to spin so dangerously out of control. They need to do a lot more.

Note: For many revealing reports from reliable sources on the realities behind the Wall Street bailout, click here.


Goodbye to Reforms of 2002
2009-11-06, New York Times
http://www.nytimes.com/2009/11/06/business/06norris.html

It took just five weeks after the WorldCom accounting scandal erupted in 2002 for Congress to pass ... the Sarbanes-Oxley Act. That law required public companies to make sure their internal controls against fraud were not full of holes. Sarbanes-Oxley was passed, almost unanimously, by a Republican-controlled House and a Democratic-controlled Senate. Now a Democratic Congress is gutting it with the apparent approval of the Obama administration. The House Financial Services Committee this week approved an amendment to the Investor Protection Act of 2009 — a name George Orwell would appreciate — to allow most companies to never comply with the law, and mandating a study to see whether it would be a good idea to exempt additional ones as well. Some veterans of past reform efforts were left sputtering with rage. “That the Democratic Party is the vehicle for overturning the most pro-investor legislation in the past 25 years is deeply disturbing,” said Arthur Levitt, a Democrat who was chairman of the Securities and Exchange Commission under President Bill Clinton. There are other threats to Sarbanes-Oxley as well. The law set up a long-overdue system of regulating the accounting industry, which had proved time and again that it was incapable of effective self-regulation. The Public Company Accounting Oversight Board has done a credible job, but a month from now the Supreme Court will hear a case that could drive it out of existence.

Note: For a treasure trove of revealing reports from reliable sources on the realities behind the Wall Street collapse and bailout, click here.


Italy Convicts 23 Americans for C.I.A. Renditions
2009-11-05, New York Times
http://www.nytimes.com/2009/11/05/world/europe/05italy.html

In a landmark ruling, an Italian judge ... convicted a base chief for the Central Intelligence Agency and 22 other Americans, almost all C.I.A. operatives, of kidnapping a Muslim cleric from the streets of Milan in 2003. The case was a huge symbolic victory for Italian prosecutors, who drew the first convictions involving the American practice of rendition, in which terrorism suspects are captured in one country and taken for questioning in another, often one more open to [torture]. The fact that Italy would actually convict intelligence agents of an allied country was seen as a bold move that could set a precedent in other cases. Judge Oscar Magi handed an eight-year sentence to Robert Seldon Lady, a former C.I.A. base chief in Milan, and five-year sentences to the 22 other Americans, including an Air Force colonel and 21 C.I.A. operatives. Three of the other high-ranking Americans were given diplomatic immunity, including Jeffrey Castelli, a former C.I.A. station chief in Rome. Citing state secrecy, the judge did not convict five high-ranking Italians charged in the abduction, including a former head of Italian military intelligence, Nicolň Pollari. All the Americans were tried in absentia and are considered fugitives. Armando Spataro, the counterterrorism prosecutor who brought the case, said he was considering asking the Italian government for an international arrest warrant for the fugitive Americans. Tom Parker, Amnesty International’s United States point man for terrorism issues, called on the Obama administration to “repudiate the unlawful practice of extraordinary rendition.”

Note: The US government has refused to extradite to Italy the 23 Americans convicted in absentia of kidnapping. Yet the US is pressing for the extradition of 76-year-old Roman Polanski for fleeing the US after serious judicial malfeasance. For an analysis of these contradictions by US authorities over extradition, click here.


Questions for a Trade Official
2009-11-04, New York Times
http://www.nytimes.com/2009/11/04/opinion/04wed4.html

When Islam Siddiqui appears for his Senate confirmation, possibly as early as next week, it will be time for some tough questions. The White House has nominated Mr. Siddiqui for the position of chief agricultural negotiator in the office of the United States trade representative. He is presently a vice president at CropLife America, a coalition of the major industrial players in the pesticide industry, including Syngenta, Monsanto, Dow Chemical and DuPont. That job doesn't seem to square with the Obama administration's professed interest in more sustainable, less chemically dependent approaches to agriculture. Nor does much of the rest of Mr. Siddiqui's resumĂ©. The White House has touted his role in the first phase of developing national organic standards. But those standards, as they first emerged in draft form in the Clinton years, were notoriously loose about allowing genetically engineered crops and the use of sewage-sludge fertilizers to be labeled as "organic." But the business of [Siddiqui's] CropLife – an arm of which openly scoffed at Michelle Obama's plans for an organic garden – is to increase exports of agricultural chemicals.

Note: For a powerful overview of the risks of genetically modified food, click here.


Court to reconsider CIA torture flight ruling
2009-10-28, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/10/28/BAMQ1AB9KF.DTL

A federal appeals court granted the Obama administration's request ... to rehear a case over a Bay Area company's alleged participation in CIA torture flights, setting the stage for a critical test of government claims of secrecy and national security. The Ninth U.S. Circuit Court of Appeals in San Francisco had reinstated a suit in April by five men who accused the company, Jeppesen Dataplan of San Jose, of taking part in the CIA's extraordinary rendition program that led to their imprisonment and torture. The 3-0 ruling rejected arguments by the Bush and Obama administrations that the case concerned secrets too sensitive to disclose in court. The full appeals court set aside that ruling. President Obama criticized the practice [of extraordinary rendition] but refused to disavow it, promising only that no prisoners would be tortured. Ben Wizner, an ACLU attorney, said ... that he was "disappointed that the Obama administration continues to stand in the way of torture victims having their day in court. This case is not about secrecy. It's about immunity from accountability," Wizner said. In the April ruling reinstating the lawsuit, the three-judge appeals court panel said the government and Jeppesen could take steps to protect national secrets as the case proceeded. The panel said the administration's argument, if accepted, would "cordon off all secret government actions from judicial scrutiny, immunizing the CIA and its contractors from the demands and limits of the law."

Note: For many reports from major media sources of growing government threats to civil liberties, click here.


N.Y. Fed pushed AIG on contracts
2009-10-28, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/10/27/AR20091027039...

The Federal Reserve Bank of New York said ... that it had no choice but to instruct American International Group last November to reimburse the full amount of what it owed to big banks on derivatives contracts, a move that ended months of effort by the insurance giant to negotiate lower payments. The New York Fed, led at the time by then-President Timothy F. Geithner, directed AIG to make the payments after it received a massive government bailout. The officials said AIG lost its leverage in demanding a better deal once the company had been saved from bankruptcy. Lawmakers and financial analysts critical of the payouts say it amounted to a back-door bailout for big banks. AIG, the recipient of a $180 billion federal rescue package, ended up paying $14 billion to Goldman Sachs over months and $8.5 billion to Deutsche Bank, among others. Before the New York Fed intervened, AIG had been trying to persuade the firms to take discounts. [A Bloomberg] report concluded that the government needlessly overpaid $13 billion. The Federal Reserve has declined to detail the terms of the deals and specifics about negotiations with creditors. The Bloomberg report quoted an unnamed AIG executive who said he was pressured by New York Fed officials to refrain from filing any documents with the Securities and Exchange Commission that would divulge the deals' details.

Note: For many revealing reports from reliable sources on the realities of the Wall Street bailout, click here.


Goldman Sachs defends dark pools, short selling
2009-10-27, Wall Street Journal
http://online.wsj.com/article/SB125665689267210559.html

Goldman Sachs defended a range of trading practices currently under regulatory scrutiny, including dark pools and short selling, in a report to the Securities and Exchange Commission and a series of postings on its Web site. In defending dark pools, private venues where large blocks of securities are traded anonymously, Goldman said they are simply the result of technology improving on the kind of non-displayed liquidity that has always existed in the market. Dark pools have been criticized by lawmakers and targeted by regulators seeking a better idea of how much trading takes place away from exchanges. While it reiterated its support for regulation of abusive, or "naked" short selling, Goldman said further regulation isn't necessary and could actually hurt the market. As for high-frequency trading, SEC Chairman Mary Schapiro at a Securities Industry and Financial Markets Association conference ... reiterated that she has asked SEC staff to propose ways the agency can collect more information about high frequency traders, noting that lightning speed trading now represents more than 50% of trading volume.

Note: To read this article without a subscription to the WSJ, click here. Is it a surprise that Goldman Sachs wants to keep its secret deals hidden? Full transparency for the banks would almost certainly reveal major manipulations.


Health care bills do little to address medical errors
2009-10-16, San Francisco Chronicle/Hearst News Bureau
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/10/16/MNR01A6COQ.DTL

Health care legislation before Congress takes only modest steps to address a problem that is more deadly than inadequate medical insurance - medical error. Studies show that preventable medical errors - ranging from poor sanitation to mistakes during surgery - kill four times as many people as the lack of medical insurance. In August, a Hearst investigation, "Dead by Mistake," concluded that as many as 200,000 people die each year from medical errors and infections in the United States and that many measures to alleviate the problem have not been adopted 10 years after a landmark federal study, "To Err Is Human." A new Hearst analysis shows that the health care reform bills under consideration by Congress also do not include key recommendations, outlined in the study, that the health care industry has lobbied against ever since. Experts agree that the proposed legislation does not address key aspects of the problem. "We are not seeing a lot about safety, which is interesting, because the nation is acknowledging the 10-year anniversary of 'To Err is Human' and there is a lot of frustration that we have not made more progress," said Jim Conway, senior vice president at the Institute for Healthcare Improvement, a Boston nonprofit that has been pushing hospitals toward safer care. Two major recommendations of the federal study are mandatory reporting of medical errors and, based on those reports, systemic changes to prevent future mistakes. None of the bills include mandatory reporting.

Note: For a powerful summary of corruption in the pharmaceutical industry, click here.


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