News StoriesExcerpts of Key News Stories in Major Media
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This year the District of Columbia joins at least five states and dozens of cities and counties in replacing Columbus Day with Indigenous Peoples’ Day. It’s part of a decades-long reckoning with the sanitized version of the European colonization of the Americas. In Hispaniola — what is now Haiti and the Dominican Republic — Columbus ... and his crew searched and searched for gold to no avail, so they filled their ships with something else they could sell: people. Of the 500 Taíno they took — selected because they were the strongest and healthiest specimens — 200 died on the voyage to Spain. Many more died once they had been sold into slavery. Columbus’s men also continued to sexually abuse Taíno women and girls. In 1500, Columbus wrote to an acquaintance that “there are many dealers who go about looking for girls; those from nine to 10 are now in demand.” As the population plummeted, they abducted indigenous people from other islands, like the Lucayan, to work the fields and mines of Hispaniola. Across the Caribbean ... the Spanish were responsible for the deaths of 12 to 15 million indigenous people. Historians usually attribute most of the deaths to the spread of diseases for which native people had no immunity, but recently historian Andrés Reséndez has pushed back against this, arguing that populations were lower than previous estimated, and “a nexus of slavery, overwork and famine killed more Indians in the Caribbean than smallpox, influenza and malaria.”
Note: For more along these lines, see concise summaries of deeply revealing news articles on history from reliable major media sources.
Jeffrey Epstein, the convicted sex offender who committed suicide in prison, managed to lure an astonishing array of rich, powerful and famous men into his orbit. Bill Gates ... started the relationship after Mr. Epstein was convicted of sex crimes. Beginning in 2011, Mr. Gates met with Mr. Epstein on numerous occasions — including at least three times at Mr. Epstein’s palatial Manhattan townhouse, and at least once staying late into the night. And Mr. Epstein spoke with the Bill and Melinda Gates Foundation and JPMorgan Chase about a proposed multibillion-dollar charitable fund — an arrangement that had the potential to generate enormous fees for Mr. Epstein. “His lifestyle is very different and kind of intriguing although it would not work for me,” Mr. Gates emailed colleagues in 2011, after his first get-together with Mr. Epstein. Mr. Gates and the $51 billion Gates Foundation have championed the well-being of young girls. By the time Mr. Gates and Mr. Epstein first met, Mr. Epstein had served jail time for soliciting prostitution from a minor and was required to register as a sex offender. In late 2011, at Mr. Gates’s instruction, the foundation sent a team to Mr. Epstein’s townhouse to have a preliminary talk about philanthropic fund-raising. Mr. Epstein told his guests that if they searched his name on the internet they might conclude he was a bad person but that what he had done — soliciting prostitution from an underage girl — was no worse than “stealing a bagel,” two of the people said.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Jeffrey Epstein from reliable major media sources.
Principled insiders have been busy in recent years blowing the whistle on wrongdoing from Big Pharma to Wall Street to Washington. Without whistleblowers, we’d probably never have heard about the lead-laced water in Flint, Mich., Jeffrey Epstein’s under-the-table funding of MIT, fraud at Guantanamo, corner-cutting at Boeing and the FAA, or the dubious dealings by President Trump in Ukraine that the House has put at the center of an impeachment inquiry. But ... it has become harder than ever to speak truth to power. What has led us here? A rise in institutional corruption and normalized fraud. Healthy organizations tend to self-correct, fixing problems long before they explode in public. Where they don’t, healthy governments intervene via independent regulators. Whistleblowing only becomes necessary when organizations become more interested in silence and loyalty than in ethics or public welfare, or when government watchdogs have been muzzled or euthanized. Anti-whistleblower pressure intensified with the Obama administration’s implementation of Insider Threat programs throughout government. These programs, a response to the WikiLeaks disclosures, frequently portray lawful disclosures by public employees as criminal acts and lump legitimate whistleblowers together with spies and criminals. Despite these barriers, whistleblowers keep coming forward, because the voice of the individual conscience grows stronger as fraud becomes normalized.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption from reliable major media sources.
Helen Yost, a 62-year-old environmental educator, has been a committed activist for nearly a decade. Yost may not fit the profile of a domestic terrorist, but in 2014 the FBI classified her as a potential threat to national security. According to hundreds of pages of FBI files obtained by the Guardian through a Freedom of Information Act (FOIA) lawsuit, and interviews with activists, Yost and more than a dozen other people campaigning against fossil fuel extraction in North America have been identified in domestic terrorism-related investigations. The investigations, which targeted individual activists and some environmental organizations, were opened in 2013-2014, at the height of opposition to the Keystone XL Pipeline. In 2010, the DoJ’s inspector general criticized the FBI for using non-violent civil disobedience as grounds to open domestic terrorism investigations. US citizens swept up in such investigations can be placed on terrorism watchlists and subjected to surveillance and restrictions on international travel. In recent years, Donald Trump has approved construction of the Keystone XL and Dakota Access pipelines, and his administration has also advocated for stiffer penalties against activists who engage in non-violent direct action targeting fossil fuel infrastructure. Meanwhile, in the wake of the Standing Rock protests, seven states have passed legislation making it a crime to trespass on property containing critical infrastructure.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and the erosion of civil liberties from reliable major media sources.
Why the audit rate for the rich is falling: Congressional Republicans cut IRS spending after the party took control of the House in 2011 in an effort to reduce wasteful spending. The agency also drew criticism from Republicans after the IRS said it targeted some conservative nonprofit groups in 2013. Adjusted for inflation, the 2019 IRS budget is 19% below its funding in 2010, according to the Government Accountability Office, which means fewer auditors. While most audits are done via computer, the process is far more complex for big earners, which involves more people with specialized knowledge, said Julie Roin ... at the University of Chicago. “Most people with $10 million or more are running businesses or have business interests on the side, so their income is coming from sources that are harder to audit and their deductions are coming from sources that are harder to audit,” Roin said. Why isn’t the audit rate for poorer Americans falling at the same rate? Concerned with fraud, Congress has made it a priority to audit filers claiming the Earned Income Tax Credit, an anti-poverty program that gives low-to-moderate working Americans money back on their taxes. In 2018, 25% of taxpayers who received EITC money didn’t actually qualify. Although, ProPublica reported, the law is so complex that many erroneous EITC claims are mistakes rather than outright fraud. More than a third of all audits are of EITC recipients, according to ProPublica. And now, the counties with the highest audit rates are predominantly poor.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and income inequality from reliable major media sources.
For the first time on record, the 400 wealthiest Americans last year paid a lower total tax rate — spanning federal, state and local taxes — than any other income group, according to newly released data. That’s a sharp change from the 1950s and 1960s, when the wealthy paid vastly higher tax rates than the middle class or poor. Since then, taxes that hit the wealthiest the hardest — like the estate tax and corporate tax — have plummeted, while tax avoidance has become more common. President Trump’s 2017 tax cut, which was largely a handout to the rich, plays a role, too. It helped push the tax rate on the 400 wealthiest households below the rates for almost everyone else. The overall tax rate on the richest 400 households last year was only 23 percent, meaning that their combined tax payments equaled less than one quarter of their total income. This overall rate was 70 percent in 1950 and 47 percent in 1980. For middle-class and poor families, the picture is different. Federal income taxes have also declined modestly for these families, but they haven’t benefited much if at all from the decline in the corporate tax or estate tax. And they now pay more in payroll taxes (which finance Medicare and Social Security) than in the past. Over all, their taxes have remained fairly flat. The combined result is that over the last 75 years the United States tax system has become radically less progressive.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and income inequality from reliable major media sources.
It had been more than a decade since “B.T.” had last seen anything. After suffering a traumatic accident as a young woman, doctors diagnosed her with cortical blindness, caused by damage to the visual processing centers in her brain. So she got a seeing eye dog to guide her and grew accustomed to the darkness. Besides, B.T. had other health problems to cope with — namely, more than 10 wildly different personalities that competed for control of her body. It was while seeking treatment for her dissociative identity disorder that the ability to see suddenly returned. Not to B.T., a 37-year-old German woman. But to a teenage boy she sometimes became. With therapy, over the course of months, all but two of B.T.’s identities regained their sight. And as B.T. oscillated between identities, her vision flicked on and off like a light switch in her mind. The world would appear, then go dark. Writing in PsyCh Journal, B.T.’s doctors say that her blindness wasn’t caused by brain damage, her original diagnosis. It was instead something more akin to a brain directive, a psychological problem rather than a physiological one. B.T.’s strange case reveals a lot about the mind’s extraordinary power — how it can control what we see and who we are. B.T. exhibited more than 10 personalities, each of them varying in age, gender, habits and temperament. They even spoke different languages: some communicated only in English, others only in German, some in both.
Note: Explore an informative article in U.S. News & World Report exploring the various aspects of dissociative identity disorder, formerly known as multiple personality disorder. For more along these lines, see concise summaries of deeply revealing news articles on the mysterious nature of reality from reliable major media sources.
Banks with more than $47 trillion in assets, or a third of the global industry, adopted new U.N.-backed “responsible banking” principles to fight climate change on Sunday that would shift their loan books away from fossil fuels. Deutsche Bank, Citigroup, and Barclays were among 130 banks to join the new framework on the eve of a United Nations summit in New York aimed at pushing companies and governments to act quickly to avert catastrophic global warming. “These principles mean banks have to consider the impact of their loans on society not just on their portfolio,” Simone Dettling, banking team lead for the Geneva-based United Nations Environment Finance Initiative, told Reuters. Financing for oil, gas and coal projects has come under particular scrutiny as climate scientists step up calls to change the global economy’s deep reliance on fossil-fuels. The principles, drawn up jointly by U.N. officials and banks, require lenders to: Align their strategies with the 2015 Paris Agreement to curb global warming and U.N.-backed targets to fight poverty called the Sustainable Development Goals, set targets to increase “positive impacts” and reduce “negative impacts” on people and the environment, work with clients and customers to encourage sustainable practices, [and] be transparent and accountable about their progress. The principles’ main backers say the norms will encourage banks to pivot their loan portfolios away from carbon-intensive assets and redirect capital to greener industries.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Ingka Group, which owns most IKEA stores, will by year’s end exceed its 2020 target to produce as much renewable energy as the energy it consumes, Ingka Chief Executive Jesper Brodin said. Ingka Group has spent 2.5 billion euros ($2.8 bln) over the past decade on wind farms, rooftop solar panels on its stores and warehouses and, most recently, on its first-ever off-site solar parks. It announced this week the acquisition of a 49% stake in two U.S. solar parks due to come into operation in coming months. Ikea is the world’s biggest furniture group; Ingka Group owns most of its retail operations. Brodin told Reuters that Ingka plans to go on investing in wind farms and solar parks. “Being climate smart is not an added cost. It’s actually smart business and what the business model of the future will look like ... Everything around fossil fuels and daft use of resources will be expensive,” he said. Brodin urged companies and government leaders at Monday’s United Nations-hosted Climate Action Summit in New York to commit to limiting global warming to 1.5 degrees Celsius (2.7 Fahrenheit), as called for by scientists. More than 400 firms including IKEA, H & M, Coca-Cola and Sony have committed to a U.N.-backed initiative to help limit global warming to below 2 degrees Celsius. Ingka said its renewable energy power now equals more than 1.7 gigawatts (GW)of power - spread over 920,000 solar modules on its sites, 534 wind turbines in 14 countries and the 700,000 solar panels under construction in the United States.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Patagonia has long been at the forefront of what is now emerging as an increasingly popular new flavor of capitalism. Today’s customers want their dollars to go to companies that will use their money to make the world a better place. Patagonia donates 1 percent of sales to environmental nonprofits, and in 2016 gave 100 percent of Black Friday sales—about $10 million—to environmental groups. Late last year, it changed its mission statement to “We’re in business to save our home planet.” And on Sept. 20, Patagonia shut down its stores and offices so that employees ... could strike alongside youth climate activists. Environmental activism has been part of Patagonia’s DNA since it was founded. It has donated $100 million since 1985 to environmental groups, including the Conservation Alliance, which it helped found in 1989 and which works to protect nature in America. It has been repairing customer’s clothes since the 1970s, and it operates one of the largest apparel repair centers in North America. In 2013, it launched a venture capital fund that invests in start-ups that work on environmental issues, such as Wild Idea Buffalo, which raises buffalo while restoring grasslands to the Great Plains, and Bureo, which converts discarded fishing nets into consumer products like sunglasses. Patagonia “really walks the walk and talks the talk,” said Richard Jaffe, an independent retail consultant. “They invest a lot of time and energy into being a catalyst for change.”
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
For the third straight year, elite hackers from around the world who spent a long weekend hacking into voting equipment have released a report detailing vulnerabilities in machines still in use across the country. Each of the more than 100 machines the researchers looked at were vulnerable to at least some kind of attack, said Georgetown professor Matt Blaze, one of the Def Con Voting Village's organizers. As in previous years, the Voting Village collected versions of voting equipment used around the country, much of it ordered from eBay, and invited all of the more than 35,000 attendees of the Def Con hacker conference, which took place in Las Vegas in August, to see what kind of holes they could find. Some of machines were found to be vulnerable to remote attack and one electronic pollbook had a hidden ethernet cable to connect it to the internet. The issue is less that skilled hackers can break into election equipment, Blaze told CNN, and more that elections systems as a whole need to both minimize risk and double-check election results with paper ballots ... and risk-limiting audits. Following accusations that he'd been blocking election security legislation, Senate Majority Leader Mitch McConnell last week backed an amendment to give states an additional $250 million to distribute for election security. But experts have questioned whether that's enough money to get the US to an acceptable level of election security.
Note: For more along these lines, see concise summaries of deeply revealing news articles on elections corruption from reliable major media sources. Then explore the excellent, reliable resources provided in our Elections Information Center.
As Sen. Ron Wyden (D-Ore.) toured the Voting Village on Friday at Def Con, the world’s hacker conference extraordinaire, a roomful of hackers applied their skills to voting equipment. By laying siege to electronic poll books and ballot printers, the friendly hackers aimed to expose weaknesses that could be exploited by less friendly hands looking to interfere in elections. Almost all of the machines in the room were still used in elections across the United States, despite having well-known vulnerabilities that have been more or less ignored by the companies that sell them. In the three years since its inception, Def Con’s Voting Village ... has become a destination not only for hackers but also for lawmakers and members of the intelligence community trying to understand the flaws in the election system that allowed Russian hackers to intervene in the 2016 election and that could be exploited again in 2020. Congregants spoke often of the need for thorough auditing of election results, increased funding and improved transparency from vendors. The call for paper ballots was a common refrain. At the time of the 2018 midterm elections, Delaware, Georgia, Louisiana, New Jersey and South Carolina had no auditable paper trails. “Election officials across the country as we speak are buying election systems that will be out of date the moment they open the box,” Wyden said. “It’s the election security equivalent of putting our military out there to go up against superpowers with a peashooter.”
Note: For more along these lines, see concise summaries of deeply revealing news articles on elections corruption from reliable major media sources. Then explore the excellent, reliable resources provided in our Elections Information Center.
A new book-length study on the tax burden of the ultrarich begins with a startling finding: In 2018, for the first time in history, America’s richest billionaires paid a lower effective tax rate than the working class. “The Triumph of Injustice,” by economists Emmanuel Saez and Gabriel Zucman of the University of California at Berkeley, presents a first-of-its kind analysis of Americans’ effective tax rates since the 1960s. It finds that in 2018, the average effective tax rate paid by the richest 400 families in the country was 23 percent, a full percentage point lower than the 24.2 percent rate paid by the bottom half of American households. In 1980, by contrast, the 400 richest had an effective tax rate of 47 percent. In 1960, that rate was as high as 56 percent. The effective tax rate paid by the bottom 50 percent, by contrast, has changed little over time. The tipping point came in 2017, with the passage of the Tax Cuts and Jobs Act. The legislation, championed by President Trump and then-House Speaker Paul D. Ryan (R-Wis.), was a windfall for the wealthy: It lowered the top income tax bracket and slashed the corporate tax rate. By 2018, according to Saez and Zucman, the rich were already enjoying the fruits of that legislation: The average effective tax rate paid by the top 0.1 percent of households dropped by 2.5 percentage points. The benefits promised by the bill’s supporters — higher rates of growth and business investment and a shrinking deficit — have largely failed to materialize.
Note: For more along these lines, see concise summaries of deeply revealing news articles on income inequality from reliable major media sources.
Since the Reagan administration, Republicans have fervently claimed lower taxes will unleash the "makers" — incentivizing them to work harder and invest more, thereby trickling down to benefit ordinary Americans. Moreover, they have consistently claimed that their tax cuts would create such dramatic economic growth that they’d literally pay for themselves. Instead, the national debt is at a record high, and the gap between the richest and the poorest U.S. households is now the largest it has been in the 52 years the Census Bureau has been tracking it. And that inequality gap started to expand dramatically about the same time the Republican Party started cutting taxes. The American economy since 1950 offers a chance to consider the impact of these tax cuts. From 1950 to 1980, the top federal marginal tax rates ... were as high as 92% and never below 70%. Republicans have been slashing the top tax bracket for annual earned income since the early 1980s, and it is now 37%. Further, in 2003 the GOP shrank the tax rate on unearned income (such as dividends) to 15%, resulting (for example) in the billionaire Warren Buffett having a lower tax rate than his secretary. With such dramatic tax cuts, GOP dogma predicted a booming U.S. economy. But it turns out U.S. economic growth was substantially higher during the period of high taxes. From 1950 to 1980, average annual growth in real (inflation-adjusted gross domestic product) was 3.9%, while from 1981 to 2018 the comparable number was 2.7%.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and income inequality from reliable major media sources.
Taxpayers in rural, poor parts of the U.S. are more likely be audited by the Internal Revenue Service than those living in wealthier counties, according to a new analysis. The county where residents are most likely to face an audit: tiny Humphreys County, Mississippi, where the median household income is less than $24,000 a year, or less than half the income of a typical U.S. family. The higher audit rates in poor regions comes down to an IRS policy of scrutinizing taxpayers who claim the Earned Income Tax Credit, or EITC, a refundable tax credit aimed at low- and moderate-income Americans. Counties with higher-than-average audit rates tend to be located in the South, the northern Plains, Mountain and Western states. The upper Midwest, Mid-Atlantic and New England states have lower audit rates. Many of the counties with the highest IRS audit rates have larger minority populations. That includes Humphreys, where 3 of every 4 residents is black. By comparison ... Denali, Alaska, with the lowest audit rate of all U.S. counties, is 84 percent white and has a median household income of more than $83,000. Audit rates for millionaires have declined by half since 2010. Corporate audits are also on the wane. But the audit rates for people who claim the EITC hasn't fallen as sharply as for the rich and corporations, ProPublica reported in December. That means a typical EITC claimant, who earns less than $20,000 per year, is more likely to face an audit than a millionaire.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and income inequality from reliable major media sources.
All of the existing banking partners to private prison leader GEO Group have now officially committed to ending ties with the private prison and immigrant detention industry. These banks are JPMorgan Chase, Wells Fargo, Bank of America, SunTrust, BNP Paribas, Fifth Third Bancorp, Barclays, and PNC. This exodus comes in the wake of demands by grassroots activists many under the banner of the #FamiliesBelongTogether coalition shareholders, policymakers, and investors. Major banks supporting the private prisons behind mass incarceration and immigrant detention have now committed to not renew $2.4B in credit lines and term loans to industry giants GEO Group and CoreCivic. This shift represents an estimated shortfall of 87.4% of all future funding to the industry. As a brief historical recap: the American private prison industry is a relatively new phenomenon, with the first private prison opening in 1984. Given their business model depends on keeping a consistent and increasing number of people incarcerated, it's been speculated and critiqued that this is why GEO Group and CoreCivic have spent $25M on lobbying over the past three decades to push for harsher criminal justice and immigration laws. A cycle emerges when one follows the money: everyday people put their money in banks, banks lend that money out to the private prison industry, the private prison industry uses that financing for ... lobbying, which successfully funnels more detainees into their facilities, and banks reap a payoff.
Note: For more along these lines, see concise summaries of deeply revealing news articles on prison system corruption from reliable major media sources.
In Washington, the Saudis are overwhelmingly considered by both parties to be one of our closest allies. The strange thing is that Saudi Arabia has far closer links to the 9/11 attacks than Saddam Hussein ever did. Saudi Arabia ... was so connected to 9/11 that the families of many 9/11 victims are seeking justice - payment - as recompense for the Saudi's role. Chris Ganci, a New York City fireman, lost his father on 9/11. Ganci is one of thousands of family members of 9/11 victims suing Saudi Arabia. Their lawsuit states that Saudi Arabia quote "knowingly provided al Qaeda with support, financing and resources that were material, substantial and critical to the success of the September 11th attacks." JIM KREINDLER, ATTORNEY FOR 9/11 FAMILIES: "For years, Saudi Arabia through its charities had been funneling money to al Qaeda." A heavily redacted 2012 report describes the support Saudi government officials gave to two hijackers after they arrived in Los Angeles. The officials gave the two al Qaeda members quote, "assistance in daily activities," including providing money and helping the hijackers get flying lessons. The U.S. government has not been keen to hold the Saudis to account in the wake of 9/11. Shortly after the attacks, the Bush administration allowed more than a hundred Saudis, including members of the bin Laden family to leave the country on chartered airplanes. And two years ago, the Trump administration cautioned a retired F.B.I. agent from working for the 9/11 families.
Note: For more along these lines, see concise summaries of deeply revealing news articles on 9/11 from reliable major media sources. Then explore the excellent, reliable resources provided in our 9/11 Information Center.
An institute whose experts have occupied key positions on EU and UN regulatory panels is, in reality, an industry lobby group that masquerades as a scientific health charity, according to a peer-reviewed study. The Washington-based International Life Sciences Institute (ILSI) describes its mission as “pursuing objectivity, clarity and reproducibility” to “benefit the public good”. But researchers from the University of Cambridge, Bocconi University in Milan, and the US Right to Know campaign assessed over 17,000 pages of documents under US freedom of information laws to present evidence of influence-peddling. The paper’s lead author, Dr Sarah Steele, a Cambridge university senior research associate, said: “Our findings add to the evidence that this nonprofit organisation has been used by its corporate backers for years to counter public health policies. ILSI should be regarded as an industry group – a private body – and regulated as such, not as a body acting for the greater good.” Around this time, ILSI was caught up in a separate controversy, when the Guardian revealed that ILSI Europe’s vice-president Prof Alan Boobis chaired a UN panel that found glyphosate was probably not carcinogenic to humans. The final panel report included no conflict of interest statements, even though ILSI Europe had received donations of $500,000 (Ł344,234) from Monsanto, which uses glyphosate in its RoundUp weedkiller, and $528,500 from its industry representative, Croplife International.
Note: Check out a great article on how lobby groups like this cause the media to become industry lapdogs. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.
Youth crime continues to plummet across the country, with arrests of people under age 18 falling for the 13th straight year and reaching lows not seen in at least six decades, new FBI figures show. The number of juveniles arrested nationwide declined 11% from 2017 to 2018 alone, compared to a 2% drop for adults. Arrests of young people for violent crimes — rape, robbery, assault and murder — fell 5%, while they actually increased slightly for those 18 and older. The 2018 arrest rate among juveniles — 21.3 per 1,000 youths — is half of what it was in the 1960s and less than one-quarter of what it was in the mid-1990s, at the peak of a youth crime spike, according to an analysis of the FBI data provided to The Chronicle by the Center on Juvenile and Criminal Justice in San Francisco. “It’s not just historic lows, it’s a historic chasm,” said Mike Males, a senior research fellow with the center. “It’s not even leveling out.” The data show that the trend of juveniles committing less crime has crept up into young adults, with arrests among those 18 to 24 also declining significantly in recent years. The changes could have profound implications on communities and the criminal justice system in years ahead. “That may be the result of the low-crime juvenile generation aging into their 20s,” Males said. “Hopefully this generation is beginning to impact older generations.” The plunge in teen crime extended to urban, suburban and rural counties, according to the FBI statistics.
Note: Sadly, this inspiring news has gotten very little media coverage other than in San Francisco. Why won't the media report this incredibly encouraging trend? Read more on this very hopeful trend on this webpage filled with hopeful and inspiring news.
The Standing Rock movement in 2016 brought together Indigenous activists from across the nation to fight against the Dakota Access Pipeline. One of the demands of this movement included divestment from Wells Fargo, a bank that was funding development of the pipeline. This brought into the spotlight ... big for-profit banks that the government uses to invest public money into Wall Street, rather than local communities. Some of those investments include the fossil fuel industry, private prisons, immigrant detention centers, and more. The divestment movement is mostly about getting those government investments ... out of the big banks. The question then becomes where to put them. Some ... say the answer is public banking. In September, the California State Legislature passed Assembly Bill 857, a law that would allow a regulatory framework for public banking in the state. This would allow the establishment of banks that hold the governments money and include socially responsible charters. Debbie Notkin, who works with the California Public Banking Alliance, says that by law, all corporations, which includes private banks, are legally obligated to maximize profit. Public banks are not held to this expectation, however, and are instead mandated to serve their communities. Community investments have unlimited possibilities, including affordable housing, saving people from foreclosure, making student loans more affordable, and creating more infrastructure to defend against the effects of climate change.
Note: Ellen Brown is a dedicated researcher who has promoted public banks for years. Check out her excellent work on her website at https://ellenbrown.com. Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.