News StoriesExcerpts of Key News Stories in Major Media
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On Saturday, September 13th, 2008, the world was about to end. The New York Federal Reserve was a zoo. The crowd included future Treasury Secretary Timothy Geithner, then-Treasury Secretary (and former Goldman Sachs CEO) Hank Paulson, the representatives of multiple regulatory offices, and the CEOs of virtually every major bank in New York. In the twin collapses of top-five investment bank Lehman Brothers and insurance giant AIG, Wall Street saw a civilization-imperiling ball of debt hurtling its way. The legend of that meeting ... is that the tough-minded bank honchos found a way to scrape up just enough cash to steer the debt-comet off course. The plan included a federal bailout of incompetent AIG, along with key mergers – Bank of America buying Merrill, Barclays swallowing the sinking hull of Lehman, etc. The legend is bull. Accurate chronicles of the crisis period [include] the just-released Financial Exposure by Elise Bean of the Senate Permanent Subcommittee on Investigations. The crisis response dramatically accelerated two huge problems. First, we made Too Big To Fail worse by making the companies even bigger and more dangerous through ... state-aided mergers. In the next crisis, letting losers lose will be even more unimaginable. Secondly, an already-serious economic inequality issue became formalized. The people responsible for the crisis weren’t just saved, but made beneficiaries of another decade of massive unearned profits.
Note: For more along these lines, see concise summaries of deeply revealing news articles on financial industry corruption and income inequality.
By the time Lehman Brothers filed for the largest bankruptcy in American history on Sept. 15, 2008, the country had been navigating stormy global financial waters for more than a year. Throughout the mess, the Federal Reserve and the U.S. Treasury had been permitting the largest banks in the country to funnel as much cash as they wanted to their shareholders ― even as it became clear those same banks could not pay their debts. Ben Bernanke, Hank Paulson and Timothy Geithner ... didn’t really rescue the banking system. They transformed it into an unaccountable criminal syndicate. Since the crash, the biggest Wall Street banks have been caught laundering drug money, violating U.S. sanctions against Iran and Cuba, bribing foreign government officials, making illegal campaign contributions to a state regulator and manipulating the market for U.S. government debt. Citibank, JPMorgan, Royal Bank of Scotland, Barclays and UBS even pleaded guilty to felonies for manipulating currency markets. Not a single human being has served a day in jail for any of it. As a percentage of each family’s overall wealth, the poorer you were, the more you lost in the crash. The top 1 percent of U.S. households ultimately captured more than half of the economic gains over the course of the Obama years, while the bottom 99 percent never recovered their losses from the crash. The result has been a predictable and terrifying resurgence of authoritarian politics unseen since the Second World War.
Note: For more along these lines, see concise summaries of deeply revealing news articles on financial industry corruption and income inequality.
Before he was Donald Trump’s campaign chairman, Paul Manafort embraced extreme tactics in his lobbying efforts. He enlisted a foreign politician who was secretly on his payroll to deliver a message to President Barack Obama in the Oval Office. And he gleefully fueled allegations that an Obama Cabinet member who had spoken out against his Ukrainian client was an anti-Semite. With his guilty plea Friday, Manafort admitted the lengths to which he went to manipulate the American political system and the media for massive profit, exposing how he thrived in the Washington swamp that Trump railed against during his campaign. By pleading guilty, Manafort agreed that he knew he was required by law to publicly report that a pro-Russia Ukrainian political party was paying him and his stable of lobbyists, which included former leaders of Austria, Poland and Italy. Instead, he operated in the dark, working diligently to keep his lobbying for Ukrainian politician Viktor Yanukovych a secret and pocketing millions routed through offshore bank accounts to hide his work and avoid paying taxes. Trump has downplayed Manafort’s wrongdoing. “What he did, some of the charges they threw against him, every consultant, every lobbyist in Washington probably does,” the president told Fox News. Paul Miller, who runs the Institute for Lobbying and Ethics ... acknowledged that there is a “widespread problem” of lobbyists failing to register their activities. But Manafort went far beyond that, Miller said.
Note: For more along these lines, see concise summaries of deeply revealing government corruption news articles from reliable major media sources.
Two weeks ago, conservative commentator David Harris Jr. took a video of himself posting to Facebook. Why video something so common? Because he had a hunch what would happen. Sure enough, his post went through, but a photo of a letter that accompanied the post mysteriously vanished and did not show up in his feed until days later – proof, he said, that the sharing service was biased against conservatives. At a Wednesday House committee meeting, Twitter CEO Jack Dorsey was barraged with examples from Republican congressmen of how conservative voices were being suppressed on its service. On the same day, the US Department of Justice announced that Attorney General Jeff Sessions would meet with state attorneys general to discuss concerns tech companies "may be hurting competition and intentionally stifling the free exchange of ideas on their platforms." The immediate result is increasing and bipartisan pressure for social media platforms to be more transparent about their algorithms and how they block certain content. Longer-term, the threat is more regulation of the platforms, something that even free-market conservatives are reluctantly talking about doing if social media doesn’t clean up its act. Twitter’s Dorsey and Facebook’s chief operating officer Sheryl Sandberg repeatedly denied that their companies were trying to tip the scales for or against any party or political ideology. But the pileup of anecdotal evidence clearly has exasperated conservative lawmakers.
Note: For more along these lines, see concise summaries of deeply revealing media corruption news articles from reliable major media sources.
The Trump administration held secret meetings with rebellious military officers from Venezuela over the last year to discuss their plans to overthrow President Nicolás Maduro. One of the Venezuelan military commanders involved in the secret talks ... is on the American government’s own sanctions list of corrupt officials in Venezuela. He and other members of the Venezuelan security apparatus have been accused by Washington of a wide range of serious crimes, including torturing critics, jailing hundreds of political prisoners, wounding thousands of civilians, trafficking drugs and collaborating with the Revolutionary Armed Forces of Colombia, or FARC, which is considered a terrorist organization by the United States. In a series of covert meetings ... the military officers told the American government that they represented a few hundred members of the armed forces who had soured on Mr. Maduro’s authoritarianism. The officers asked the United States to supply them with encrypted radios, citing the need to communicate securely, as they developed a plan to install a transitional government. American officials did not provide material support, and the plans unraveled after a recent crackdown that led to the arrest of dozens of the plotters. On Feb. 1, Rex W. Tillerson ... delivered a speech in which he said the United States had not “advocated for regime change or removal of President Maduro.” Yet, responding to a question afterward, Mr. Tillerson raised the potential for a military coup.
Note: The US has a long history of supporting coups and human rights abuses in Latin America. The Western Hemisphere Institute for Security Cooperation, formerly known as the School of the Americas, graduated more than 500 human rights abusers. For more along these lines, see concise summaries of deeply revealing government corruption news articles from reliable major media sources.
Medical regulators say they have an ethical duty, and some have a legal requirement, to alert law enforcement when a doctor may have committed a sex crime against an adult patient. But The Atlanta Journal-Constitution’s examination of thousands of cases found that regulators failed to consistently live up to that responsibility. Instead, regulatory agencies, often dominated by physicians, can and do find reasons to avoid notifying police. The result is that some abusive doctors can continue practicing and harm other patients, and others are allowed to quietly retire, without a full investigation into whether they committed crimes that could mean jail time for those in other walks of life. Across the country, it is legal for medical panels to act as gatekeepers. Thirty-nine states and the District of Columbia do not have laws requiring medical regulators to notify police or prosecutors about potential criminal acts against adults. Some states have decided reporting shouldn’t be optional. In Delaware, it took a public outcry. State Rep. Helene Keeley and Sen. Patricia Blevins tried to get a mandatory reporting law passed after being tipped that doctors who committed heinous sex crimes were only being reprimanded. But Keeley said resistance from the Medical Society of Delaware killed the legislation. That changed after the arrest of pediatrician Earl Bradley, estimated to have assaulted as many as 1,000 young patients in Delaware and Pennsylvania.
Note: See a list of powerful articles revealing egregious and rampant sexual abuse by doctors around the US. For more along these lines, see concise summaries of deeply revealing news articles on sexual abuse scandals and health.
Nearly two decades ago, [Andrew] Dekle was sentenced to four years in federal prison after a jury found him guilty of writing more than 120 illegal prescriptions for women who testified that the drugs were in exchange for sexual favors. “The pimp with a prescription pad” is what one prosecutor called him during a trial in which it was revealed that more than 400 sexually explicit photos of female patients and other women had been discovered in his office. In some states, where legislatures have enacted laws prohibiting doctors who commit certain crimes from practicing, Dekle’s career would be over. But in Georgia, where the law gives the medical board the discretion to license anyone it sees fit, he was back in practice two years after leaving prison. The [Atlanta Journal-Constitution] found more than 450 cases in which doctors had sexual contact with patients while also prescribing controlled and addictive substances for them. In more than half, the physicians were allowed to continue practicing. Although it’s rare for medical regulators to allow doctors convicted in drugs-for-sex cases to keep their licenses, the AJC found instances in Texas, Virginia, West Virginia and Kentucky where physicians with convictions similar to Dekle’s were allowed to remain in practice.
Note: See a list of powerful articles revealing egregious and rampant sexual abuse by doctors around the US. For more along these lines, see concise summaries of deeply revealing news articles on sexual abuse scandals and health.
A dossier compiled by an MP detailing allegations of a 1980s Westminster paedophile ring is one of more than 100 potentially relevant Home Office files destroyed, lost or missing, it has emerged. The government faced fresh calls for an overarching inquiry into historical cases of paedophilia as it was revealed that a total of 114 Home Office files relevant to allegations of a child abuse network have disappeared from government records. David Cameron has already ordered the Home Office permanent secretary to look into what happened to a lost dossier given earlier in the 1980s to Leon Brittan, then home secretary, by the campaigning Tory MP Geoffrey Dickens. The revelation that further relevant documents have disappeared will raise fresh fears of an establishment cover-up. Dickens, who died in 1995, had told his family that the information he handed to the home secretary in 1983 and 1984 would "blow the lid off" the lives of powerful and famous child abusers, including eight well-known figures. In a letter to Dickens at the time, Brittan suggested his information would be passed to the police, but Scotland Yard says it has no record of any investigation into the allegations. On Saturday the Home Office made public a letter to Keith Vaz, chairman of the home affairs select committee, in which the department confirmed that correspondence from Dickens had not been retained and it had found "no record of specific allegations by Mr Dickens of child sex abuse by prominent public figures".
Note: For more along these lines, see concise summaries of deeply revealing news articles on sexual abuse scandals and government corruption.
During the Cold War, the CIA funded a series of secret brainwashing experiments at a prestigious psychiatric clinic. No method was too bizarre, including using LSD, hypnosis, prolonged periods of induced sleep, and electrical shocks to the brain. Patients were given the treatment without explanation or consent, and even decades later complained that they had never completely recovered. Bob Logie was admitted to Allen Memorial hospital at age 18 to treat psychosomatic leg pain. He was repeatedly given LSD as a test subject without his consent, [and was] exposed to massive doses of electroshock therapy and kept asleep for up to a month at a time. Tape messages were played repeatedly while he slept. Logie said the effect of the treatments stayed with him. No one knows how many patients were exposed to the program of chemical and electro-shock treatments. But documents and testimony have revealed that the Montreal experiments were part of a series of psychological projects given code names such as MK Ultra and run by the CIA in a quest to understand how to brainwash people. Many years passed before there was any public or official acknowledgment of what patients at Allen Memorial had been through. [In 1998] the CIA agreed to pay some of the patients an out of court settlement of $750 thousand. It emerged that during that time Ottawa helped suppress evidence that CIA officials had apologized to the Canadian government when the CIA experiments were first revealed.
Note: Watch the complete Fifth Estate report at the link above. The Canadian government has been actively attempting to silence victims of this program for over forty years. Read more on the court cases stemming from Dr Ewen Cameron's CIA-funded experiments in this Times of London article. Read also an excellent summary on the involvement of doctors in the CIA's brainwashing experiments. For more along these lines, see concise summaries of deeply revealing mind control news articles from reliable major media sources.
Boyan Slat spends a lot of time thinking about the ocean. The Dutch inventor has designed the world’s first ocean plastic cleanup system. After five and a half years of hard work, the 23-year-old Slat will watch from dry land as System 001 — a floating barrier nearly 2,000ft long — snakes its way out under the Golden Gate Bridge into the Pacific. Its destination is the Great Pacific Garbage Patch, a gyre of plastic waste twice the size of Texas held in position by ocean currents between California and Hawaii. If all goes to plan ... an array of 60 systems could reduce the amount of plastic there by half by 2025. “I hope that this will be a turning point for the plastic pollution problem,” Slat [said]. “For sixty years it has only gotten worse and worse. Now hopefully we’re turning the tide.” The eradication of the garbage patch, and more broadly the salvation of our oceans, has been Slat’s single-minded goal ever since he was 16 years old, when a diving trip to Greece yielded more plastic bag sightings than fish. Struck by the idea for a floating barrier that could collect plastic using the power of ocean currents alone, he founded his company, The Ocean Cleanup, aged just 18. Because the system is solid rather than a net, Slat says sea life will be protected from becoming ensnared. The hope is that plastic will accumulate as if on a seashore, ready to be collected by boats and taken for recycling.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
I was born in a small town in British India. One of the bloodiest partitions in the history of the world took place in my country. In 1947, the British had finally left India, which led to a division of the country into India and Pakistan. There were riots everywhere, and, when I was 5, we had to flee in the middle of the night to the coastal town of Karachi. It wasn’t until I was 13 that I even heard the word engineer. The Prime Minister of India [Jawaharlal Nehru] visited my small city. He said, “after 200 years of British rule, India has no industry and that we need engineers. I was the first woman admitted to the engineering college that I attended in India. There wasn’t even a ladies’ room on the campus. At 19, I came across a biography of Henry Ford, and I started dreaming about one day working for the company he had built. After finishing college in India, my parents gave me their lifetime savings to help me fulfill my dream. I arrived in the Motor City, Detroit, Mich., in January of 1967 without snow boots, a warm jacket, or a car. The first time I applied to Ford, I wasn’t hired, but I didn’t give up. When I tried again a few months later, the HR person was confused. He looked at my resume and said, “You’re applying for an engineering job, but we have no females here.” I told him, “I’m here, and unless you hire me, you’ll never have any.” It worked. I became the first female with a Masters in Engineering ever hired by the Ford Motor Company.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
After the deadly attacks on Sept. 11, 2001, the first person Rabbi Ted Falcon called was his friend, Jamal Rahman, a Sufi imam. On the following Sabbath, the rabbi invited the imam to his Seattle synagogue to speak to the congregation. Soon after, the two spiritual leaders, along with Pastor Don Mackenzie, commenced a series of frank conversations about their beliefs. The talks eventually inspired a radio show, a pair of books, and worldwide speaking tours. The men’s willingness to ask and answer tough questions about faith in the wake of 9/11 had clearly struck a nerve with many Americans. Over the past 10 years, the percentage of US congregations involved in interfaith worship has doubled – from 7 to 14 percent. Meanwhile, the percentage of congregations performing interfaith community service nearly tripled – from 8 to almost 21 percent – according to a new survey by Hartford Seminary’s Institute for Religion Research. In doing so, these congregations have joined the colorful, decades-old American interfaith movement. Since 9/11, the movement has gained new momentum and, more than ever before, has drawn Muslims into its ranks. “To think about 9/11 without thinking about the interfaith movement would almost be a travesty,” says Maureen Fiedler, host of “Interfaith Voices,” a ... radio program that was created in the days after the Sept. 11 attacks. “Islam was so misunderstood and so vilified by those events,” says Ms. Fiedler, “that a real interfaith understanding has to be brought to bear on the issue.”
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Antibiotics are among the most commonly prescribed medications for children in the United States, but new research shows that they sometimes cause more harm than good. A study supported by the Centers for Disease Control and Prevention (CDC) ... used nationwide estimates for outpatient antibiotic prescriptions and data from a nationally representative sample of emergency room visits [to look] at the use of antibiotics by those under the age of 19. From 2011-2015, reactions and other side effects from antibiotics led to an estimated 70,000 ER visits each year. Most visits, 86 percent, were for allergic reactions which ranged from mild, the most common (rash, itching) to moderate and severe (anaphylaxis, angioedema, severe swelling beneath the skin). The risk of an ER visit also varied by the child's age and the type of antibiotic. Children aged 2 or younger carried the highest risk of a side effect, with 41 percent of visits involving children in this age group. Amoxicillin, Amoxicillin and sulfamethoxazole/trimethoprim, both commonly prescribed antibiotics, were the most implicated in side effects among children aged 9 or younger and 10-19, respectively. Nearly a third, if not more, of outpatient pediatric prescriptions for antibiotics, are unnecessary, according to the CDC. A recent study showed that 78 percent of parents did not recall any discussions of possible antibiotic harms during their child’s last doctor visit.
Note: Millions of unnecessary drug prescriptions and rampant overuse of antibiotics in livestock have also contributed to the emergence of antibiotic-resistant bacteria. For more along these lines, see concise summaries of deeply revealing news articles on pharmaceutical industry corruption and health.
John Mormando was in the best shape of his life – a marathon runner and triathlete training for an Ironman competition – when he noticed a small bump on his chest. He ... soon received the shocking diagnosis: breast cancer. Mormando, 51, was at a loss to explain his rare diagnosis. Then colleagues reminded him of the months he worked close to the site of the 9/11 terrorist attack on New York’s World Trade Center. Tens of thousands of people who lived or worked in the neighborhood at the time found themselves breathing in air thick with toxic fumes and particles. Many have since become sick, many have died and new cases are still occurring. The latest example is a cluster of men who have developed breast cancer, including Mormando. The new cluster of male breast cancer diagnoses is just one face of a health crisis that is only getting worse 17 years after the terrorist attacks. New York is nearing a grim milestone: 10,000 people diagnosed with cancer linked to 9/11. Last week, FBI director Christopher Wray said he had lost three colleagues who responded to the 2001 attacks in the last six months alone. There were 9,375 members of the World Trade Center Health Program certified as having a related cancer as of the end of June. An additional 420 members who had cancer have died. In all, more than 43,000 people have been certified with a 9/11 related health condition. The head of the EPA at the time has admitted she was wrong to assure the public that the air around Ground Zero was safe.
Note: For more along these lines, see concise summaries of deeply revealing 9/11 news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our 9/11 Information Center.
The city of Mill Valley has enacted an urgency ordinance to regulate “small cell” towers amid concerns that cellphone companies want to grow their 5G networks and install new equipment in Marin [County]. The decision came on a unanimous vote by the City Council on Thursday, after residents from across Marin packed the council chambers as part of a campaign urging local officials to block cellphone companies from attempting to build 5G towers in the county. The issue is that 5G towers ... could exacerbate health symptoms already suspected as a result of exposure to electromagnetic fields. Those symptoms can include fatigue, headaches, sleep problems, anxiety, heart problems, learning and memory disorders, ringing in the ears and increased cancer risk. San Anselmo and Ross have adopted ordinances similar to Mill Valley’s, while other Marin communities are struggling with how to develop rules, a task complicated by federal restrictions already in place. “There are some federal and state regulations that preempt local control,” said Fairfax Mayor Peter Lacques. Federal and state laws make it so municipalities cannot regulate: radio frequencies or electromagnetic waves that comply with Federal Communications Commission regulations, certain modifications to existing wireless telecommunications facilities, [or] the installation of wireless telecommunications facilities on existing utility poles in the public rights of way.
Note: The major media has failed to report on the strong grass roots campaign against the new 5G technology being rolled out across the world. Something smells fishy with all this. Watch five minutes of US Senate testimony showing that the 5G industry has done zero studies on the health effects of this new technology. For more along these lines, see concise summaries of deeply revealing news articles on the risks and dangers of wireless technologies.
In his first major policy address since joining the White House in April, national security adviser John Bolton offered a particularly aggressive demonstration of President Trump's "America First" agenda. He threatened the International Criminal Court, a U.N.-mandated body based in The Hague, with punitive measures should it pursue an investigation into alleged U.S. war crimes in Afghanistan. He warned that the United States would ban ICC judges and prosecutors from entering the country, sanction their funds in the U.S. financial system and punish any company or government that complies with an ICC investigation into Americans. The ICC's chief prosecutor announced last November that she had "reasonable evidence" to investigate allegations regarding the abuse, torture and even rape of at least 88 Afghan detainees, allegedly carried out by U.S. armed forces in Afghanistan and at clandestine CIA interrogation centers in Europe. The ICC is far from a perfect institution. But it still represents a key cog in the international system, and one that could yet provide justice for the hideous crimes of those like ... Myanmar's generals. Instead, it may yet become another casualty of Trump's wider war on liberal internationalism. "It is an all-out bid by Donald Trump to end the ICC, the world’s foremost criminal tribunal, and with it, the very concept of international justice," wrote the Guardian's Simon Tisdall. "Bolton is the man wielding the knife. And there is a strong possibility they will succeed."
Note: For more along these lines, see concise summaries of deeply revealing government corruption news articles from reliable major media sources.
As part of his ongoing crusade targeting black athletes, President Donald Trump shared a tweet. It included an image of Pat Tillman, the former NFL safety-turned-U.S. Army Ranger who was killed in Afghanistan in the spring of 2004. Trump was co-signing a suggestion that Tillman was a true patriot, unlike those who have chosen to kneel during the national anthem. Tillman’s is indeed an all-American story, it’s just not the kind that Trump and his supporters want it to be. Few episodes of the post-9/11 era have called down more disgrace upon the military than its handling of Tillman’s death. Tillman was 25 years old when he joined the Army ... expecting to join the fight against Al Qaeda and the effort to bring Osama bin Laden to justice. Instead, he was sent to Iraq. Tillman loathed the Iraq War. He confided in his brother and their friend Russell Baer that he thought the invasion and occupation were “fucking illegal.” On April 22, [2004] Tillman was killed. His memorial service was broadcast on national television. The military provided a Navy SEAL ... with a narrative to read to mourners. It described how Tillman charged up a ridgeline, braving enemy fire, and died defending his fellow soldiers. The military knew Tillman was killed by his fellow soldiers, brought down by three bullets to the head let loose during spasms of wildly irresponsible but deliberate shooting. In Tillman’s death, powerful officials saw an opportunity to spin a yarn of heroic sacrifice, rather than an obligation to tell the truth.
Note: For more along these lines, see concise summaries of deeply revealing military corruption news articles from reliable major media sources.
Leslie Moonves, the longtime chief executive of the CBS Corporation, stepped down on Sunday night from the company he led for 15 years. His fall from Hollywood’s highest echelon was all but sealed after the publication earlier in the day of new sexual harassment allegations against him. Mr. Moonves ... could still walk away with more than $120 million. However, [he] will not receive any severance payment until the completion of an independent investigation into the allegations. He has been under intense pressure since July, when The New Yorker published an article by the investigative journalist Ronan Farrow in which six women accused Mr. Moonves of sexual harassment. On Sunday, the magazine published another article by Mr. Farrow in which six more women detailed claims against Mr. Moonves. Mr. Moonves is the latest high-powered entertainment figure to be ousted from his perch in the #MeToo era. The movie producer Harvey Weinstein has been accused by scores of women of sexual assault and now faces felony charges. Matt Lauer stepped down as the anchor of NBC’s most valuable news program, “Today,” after several women alleged incidents of sexual harassment. Charlie Rose of CBS and PBS left the airwaves after he, too, was implicated by multiple women. And Fox News saw the departures of the founding executive Roger Ailes and its top-rated host, Bill O’Reilly. The allegations go back years — in some cases even decades.
Note: For more along these lines, see concise summaries of deeply revealing news articles on sexual abuse scandals and media corruption.
The powerful and now-departed men of CBS - [Les] Moonves, [Jeff] Fager and star interviewer Charlie Rose - helped shape how our society sees women. The network, after all, is the most-watched in the nation. “60 Minutes” for 50 years has been the very definition of quality broadcast journalism: the gold standard. It’s impossible to know how different America would be if power-happy and misogynistic men hadn’t been running the show in so many influential media organizations - certainly not just CBS. What if Mark Halperin, for instance, had not been a network commentator during the 2016 presidential campaign? (James Wolcott of Vanity Fair aptly described him as ... “the most influential” of the men who were felled by sexual-misconduct allegations last year.) What if Bill O’Reilly of Fox News hadn’t been the biggest cable TV star in the nation when a woman had a major-party presidential nomination for the first time? (O’Reilly was forced out after it emerged that he had made a $32 million settlement with an accuser.) What if Roger Ailes hadn’t presided for decades over Fox News, where his own well-documented abuses bled freely into his network’s commentary. A media figure doesn’t have to show up for a business meeting in an open bathrobe to do harm. He can help frame the coverage of a candidate’s supposedly disqualifying flaws. He can squelch a writer’s promising work. He can threaten an underling’s job if she doesn’t stay in line. All these little moments add up.
Note: For more along these lines, see concise summaries of deeply revealing news articles on sexual abuse scandals and media corruption.
The combined wealth of the world’s millionaires and billionaires has hit $70.2 trillion, reaching a new record for collective wealth among the world’s richest, Capgemini revealed on Tuesday in its annual World Wealth Report. The research firm said that it was sixth-straight year of high-net-worth individuals adding more cash to their coffers. The collective wealth was more than double the $32.8 trillion in wealth the world’s richest people had in 2008. The study defines a high-net-worth individual as someone who has assets of $1 million or more. That sum needs to be available to invest and cannot include a primary residence and collectibles, among other products. The U.S. has the most wealthy people in the world with 5,285 individuals hitting the mark of a high-net-worth individual. Japan and Germany landed in second and third place with 3,162 and 1,365 wealthy people, respectively. In its evaluation of the world’s wealthiest people, Capgemini analyzed how their wealth is dispersed among asset classes. It found that 30.9% of their wealth is kept in equities and 27.2% in cash and cash equivalents. Another 16.8% of their wealth resides in real estate. Additionally, Capgemini found that high-net-worth individuals are investing in cryptocurrency more than ever. More than 71% of younger high-net-worth individuals place a high importance on getting cryptocurrency information from their wealth managers, compared to 13% of those aged 60 and over.
Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.
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.