News StoriesExcerpts of Key News Stories in Major Media
Note: This comprehensive list of news stories is usually updated once a week. 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.
The National Memorial for Peace and Justice, which opens on Thursday, is a place unlike any other in the United States. Together with a new Legacy Museum which also opens this week, it addresses head on a subject that has been marked by a booming silence until now – the enforcement of white supremacy in America through racial terrorism in the form of lynching, as well as its other guises: slavery, segregation and modern mass incarceration. The memorial records and honors the more than 4,000 people of color ... who lost their lives to terror lynching. [It] sits audaciously atop a hill overlooking the heart of Montgomery. From its grounds you look down on the state capitol, the legislative beating heart of Alabama that acted as the first capital of the Confederacy and presides over a state constitution that to this day outlaws white and black kids going to school together: in 2004 and 2012 Alabamans held referendums on whether to remove the racist ban; both times the overwhelmingly white majority voted to keep it. [Equal Justice Initiative] has identified more than 4,384 lynchings by white people of people of colour [from] 1877 to 1950. They spanned 800 counties. Huge crowds often turned out: 10,000 to watch Henry Smith, 17, tortured and burned on a 10ft-high stage in Paris, Texas in 1893; 20,000 at the burning alive of Willy Brown in Omaha, Nebraska in 1919. Such was the communal complicity that sometimes entire white communities would attend – to a man, woman and child.
Note: For more along these lines, see concise summaries of deeply revealing civil liberties news articles from reliable major media sources.
LeeAnne Walters was one of the activists who brought Flint’s brown, lead-laden water to the world’s attention, thrusting plastic bottles of dingy liquid into camera lenses and the national consciousness. Four years later, you might think things have improved in the Michigan city. But Walters is still bathing her kids in bottled water, which she heats on the stove in four separate pots and a plastic bowl in the microwave. “I know as far as the lead in the water that’s OK, but it’s the lack of trust that was never rebuilt,” said Walters. It is four years since the ... public health crisis. In the aftermath, Flint received presidential visits, millions of dollars in donations and government aid. It is the subject of scientific studies. Walters has now won the Goldman environmental prize for activism. But, despite all this attention, regular people feel that little has changed since the crisis. Debra Furr-Holden, a researcher at Michigan State University ... said even though federal agencies flung themselves at the city, “the impact of their presence is not known or real for the residents”. For the roughly 100,000 people who live here, the damage is done. The list of physical ailments is long. Flint resident Keri Webber’s ... daughters, variously, have kidney damage, fatty liver, anemia and lead-laden bones. Other Flint residents have had recurring skin rashes. There were so many miscarriages in Flint that University of Kansas economists found the fertility rate dropped by 12%, and fetal death shot up by 58%. The mental scars are as tangible as the physical.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and health.
The founder of a citizens' movement that helped expose the water crisis in Flint, Michigan, is one of the recipients of the prestigious Goldman Environmental Prize. Nearly 100,000 residents of Flint were left without safe tap water after lead began leaching into the supply. Mother of four LeeAnne Walters led a citizens' movement that tested the tap water to expose the health threat. In 2014, the water in Ms Walters' home turned brownish and she noticed rashes on her three-year-old twins. Her daughters' hair then fell out in clumps. Walters ... then teamed up with environmental engineer Dr Marc Edwards, from Virginia Tech, who helped her conduct extensive water testing in the city. She methodically sampled each zip code in Flint and set up a system to ensure the integrity of the tests. They showed lead levels as high as 13,200 parts per billion in some parts of the city - more than twice the level classified as hazardous waste by the US Environmental Protection Agency (EPA). The contamination was traced to the city switching its water supply away from Detroit's system, which draws from Lake Huron, and beginning instead to draw water from the Flint River. This switch was meant to save the city millions of dollars. But the water from the Flint River was more corrosive than Lake Huron's water and the pipes began leaching lead, which is a powerful neurotoxin. The city has since switched back to using Detroit's water system. But Flint continues to wrestle with the aftermath of the crisis.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption and health.
As more states legalize marijuana, there's growing interest in a cannabis extract — cannabidiol, also known as CBD. It's marketed as a compound that can help relieve anxiety - and, perhaps, help ease aches and pains, too. CBD doesn't have the same mind-altering effects as marijuana, since it does not contain THC, the psychoactive component of the plant. "There's good evidence to suggest that CBD could be an effective treatment of anxiety and addiction" and other disorders, says Dr. Esther Blessing, a psychiatrist and researcher at New York University. "But we need clinical trials." Small, short-term human studies ... suggest CBD exhibits anti-inflammatory and anti-anxiety properties. These preliminary findings piqued Blessing's interest. For instance, she points to a 2011 study of a few dozen people, some of whom had social anxiety disorder, who were asked to speak in front of a large audience. Researchers compared anxiety levels in people after they took CBD, compared to those who got the placebo or nothing at all. "People who took CBD reported significantly less anxiety" compared to those who got the placebo, Blessing says. Though CBD supplements are widely available for sale, a legal murkiness surrounds marijuana extracts. Even if you live in a state where marijuana use is legal, the federal Drug Enforcement Administration still classifies the CBD extract as a Schedule 1 substance — the DEA's most restricted category.
Note: Read more about the use of CBD to treat epilepsy and other serious conditions. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.
Scientists are preparing to launch the world's first machine to clean up the planet's largest mass of ocean plastic. The system, originally dreamed up by a teenager, will be shipped out this summer to the Great Pacific Garbage Patch, between Hawaii and California, and which contains an estimated 1.8 trillion pieces of plastic. Experts believe the machine should be able to collect half of the detritus in the patch – about 40,000 metric tons – within five years. The Great Pacific Garbage Patch (GPGP) spans 617,763 sq miles. Seabirds and other marine life are increasingly being found dead with stomachs full of small pieces of plastic. Creatures eat plastic discarded in the sea thinking it’s food but then starve to death because they are not feeding properly. Others are trapped and die of starvation. The system to tackle the largest swirling mass of rubbish in the Pacific has been designed by a non-profit technology firm called The Ocean Cleanup, set up by Dutch inventor Boyan Slat when he was an 18-year-old aerospace engineering student. The clean-up contraption consists of 40ft pipes ... that will be fitted together. Filled with air, they will float on the ocean's surface in an arc, and have nylon screens hanging down below forming a giant floating dustpan to catch the plastic rubbish that gathers together when moved by the currents. The screens, however, will be unable to trap microplastics – tiny fragments. They plan to have 60 giant floating scoops, each stretching a mile from end to end. Boats will go out to collect debris every six to eight weeks.
Note: More than 50 species of fish have been found to consume plastic trash. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.
At least one-third of early deaths could be prevented if everyone moved to a vegetarian diet, Harvard scientists have calculated. Dr Walter Willett, professor of epidemiology and nutrition at Harvard Medical School said the benefits of a plant-based diet had been vastly underestimated. "Looking at the question of how much could we reduce mortality shifting towards a healthy, more plant based diet, not necessarily totally vegan ... our estimates are about one third of deaths could be prevented," [he said]. “That’s not even talking about physical activity or not smoking, and that’s all deaths, not just cancer deaths. That’s probably an underestimate as well as that doesn’t take into account the fact that obesity is important and we control for obesity." Dr Neal Barnard, president of the Committee for Responsible Medicine also said people need to wake up to the health benefits of vegetarianism and veganism. “I think we’re underestimating the effect,” he told delegates. “I think people imagine that a healthy diet has only a modest effect and a vegetarian diet might help you lose a little bit of weight. But when these diets are properly constructed I think they are enormously powerful. A low-fat vegan diet is better than any other diet I have ever seen for improving diabetes. With regards to inflammatory diseases like rheumatoid arthritis we are seeing tremendous potential there too. Partly because of things we are avoiding and cholesterol but also because of the magical things that are in vegetables and fruits.”
Note: For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and health.
There has been a global shift away from meat in recent years. A full 70% of the world population reportedly is either reducing meat consumption or leaving meat off the table altogether. This is from a report at GlobalData, a leading data and analytics company that works with 4,000 of the world’s largest companies. Fiona Dyer, Consumer Analyst at GlobalData, comments: ‘The shift toward plant-based foods is being driven by millennials, who are most likely to consider the food source, animal welfare issues, and environmental impacts when making their purchasing decisions.’ While millennials are one of the key drivers of this global shift away from consuming animal products, the plant-based movement appears to be bigger than any one generation. Celebrities, athletes, and even entire companies including Google and countries such as China are backing the movement to eat more plants. When the World Health Organization connected processed meats, like bacon and ham, to cancer, it sent shock waves through the food world. It also gave mainstream health organizations even more ammunition to encourage healthier dietary guidelines. Kaiser Permanente, the largest healthcare organization in the U.S., and the American Institute for Cancer Research are now recommending a plant-centric diet to combat heart disease and other common killers.
Note: For more along these lines, see concise summaries of deeply revealing news articles on food system corruption and health.
Plainclothes police officers stormed the village of Madhura in Bihar State. They chased men into fields and detained the bride and groom, already covered in turmeric powder to prepare for the ceremony, for further questioning. Speaking to reporters at the police station later, Ms. Kumari, with downcast eyes, made her position clear: “I will not marry, sir,” she said. “I want to study.” India’s child marriage rate is one of the highest in the world. But as awareness has spread about the detriments associated with underage marriages ... the prevalence has dropped. Child marriage [in India] is finely threaded with other practices, including the exchange of a dowry from the bride’s family to the groom, and sometimes with sex trafficking, making it difficult to tackle any one issue without addressing others. Social workers said there are no easy solutions. Bihar, a poor, agrarian state in northern India, has one of the highest rates of underage marriages in the country. In 2005, 69 percent of surveyed women said they married when they were underage. Ten years later, the number fell to 42.5 percent. Last year, the Bihari government ... dispatched social workers to villages and cities across the state, and announced that priests who officiate weddings would be required to sign declarations affirming that both parties are of legal age to marry. The legal age for marriage for Indian women is 18 years old. For men, it is 21. With the 2006 Prohibition of Child Marriage Prevention Act, Indian lawmakers criminalized child marriage.
Note: While India has outlawed child marriage as a country, twenty-seven US States set no minimum age for marriage.
Carly Fleischmann has severe autism and is unable to speak a word. But ... this 13-year-old has made a remarkable breakthrough. Two years ago, working with pictures and symbols on a computer keyboard, she started typing and spelling out words. The computer became her voice. "All of a sudden these words started to pour out of her, and it was an exciting moment because we didn't realize she had all these words," said speech pathologist Barbara Nash. Then Carly began opening up, describing what it was like to have autism. Carly writes about her frustrations with her siblings, how she understands their jokes and asks when can she go on a date. "We were stunned," Carly's father Arthur Fleischmann said. "We realized inside was an articulate, intelligent, emotive person that we had never met. This ... opened up a whole new way of looking at her." This is what Carly wants people to know about autism. "It is hard to be autistic because no one understands me. People look at me and assume I am dumb because I can't talk or I act differently than them. I think people get scared with things that look or seem different than them." Carly had another message for people who don't understand autism. "Autism is hard because you want to act one way, but you can't always do that. It's sad that sometimes people don't know that sometimes I can't stop myself and they get mad at me. If I could tell people one thing about autism it would be that I don't want to be this way. But I am, so don't be mad. Be understanding."
Note: Read an excellent follow-up article in which Carly answers readers questions about autism. For more, see this webpage.
Philip Zimbardo is understandably tired of being associated with the darker sides of human behavior. Yet the 85-year-old San Francisco psychologist, who taught at Stanford for 50 years ... knows that history has a way of flattening careers into one landmark accomplishment. For Zimbardo, that would be the 1971 Stanford Prison Experiment. Zimbardo devised a mock jail in the basement of Stanford’s Jordan Hall to study the psychology of imprisonment. All hell broke loose ... and Zimbardo, the “warden,” abruptly cut the study short. Ever since, his prison experiment has been cultural shorthand for proof [that] depersonalized circumstances [can turn] anyone temporarily into a tyrant. Embedded within Zimbardo’s findings on the “banality of evil” was the kernel of a vastly more positive and, he believes, more broadly consequential idea: heroism training. “If essentially good people are capable of evil, then can’t any of us also be inspired and trained to act heroically?” he asks. The Heroic Imagination Project was launched in 2010. “I worked with a team of academics to develop six three-hour-long lessons on transforming passive bystanders into active heroes,” [Zimbardo said]. The key to “awakening everyone’s heroic instincts,” Zimbardo said, is twofold: first, redefining who a hero is. “We must ... promote the idea that heroes are ordinary people who take extraordinary action.” Second, it’s about having a ... belief that our abilities and aptitudes aren’t static but can be developed over time.
Note: Watch a video of Zimbardo's talk titled, "What Makes a Hero?." Explore an excellent essay on moving beyond duality which talks about Zimbardo's experiments.
Harriet Tubman will boot Andrew Jackson from the face of the $20. She'll become the first black woman ever to front a U.S. banknote. Tubman, who died in 1913 at the age of 91, escaped slavery in the south and eventually led hundreds of escaped slaves to freedom as a "conductor" of the Underground Railroad. After the slaves were freed, Tubman was a staunch supporter of a woman's right to vote. "What she did to free people on an individual basis and what she did afterward," [Treasury Secretary Jack] Lew said. "That's a legacy of what an individual can do in a democracy." The $5 bill will keep Abraham Lincoln, the 16th president, on the front. The back of the bill will depict the Lincoln Memorial along with portraits of individuals involved in historic events that took place there. That includes Marian Anderson and Eleanor Roosevelt. The African-American opera singer and former first lady held a concert at the memorial in 1939 in an effort to move the civil rights movement forward. Martin Luther King Jr. will be added the back of the bill. The Lincoln Memorial was the site of his famous "I Have a Dream" speech in 1963. It's not clear when the $20 or $5 will enter circulation. Updating currency can take more than a decade.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Southern Utah’s Rainbow Bridge National Monument has been selected as an international dark-sky sanctuary, a designation meant to recognize the area for its naturally dark skies and a cultural heritage revered by Native Americans. Encompassing 160 acres, Rainbow Bridge National Monument outside of Page, Ariz., is among the smallest areas managed by the National Park Service and is considered sacred by several regional tribes, including the Navajo, Hopi, Zuni, Utes and Paiutes. The dark-sky designation, made in conjunction with the International Dark-Sky Association, will be marked by a series of public astronomy events. The International Dark-Sky Association launched its dark-sky places program in 2001 to encourage protection of natural dark night skies worldwide through responsible lighting, public awareness and education. The association’s executive director J. Scott Feierabend said the group was pleased to honor Rainbow Bridge. “In the span of this remarkable natural bridge,” Feierabend said in a written statement, “we see symbolically represented the arch of the Milky Way across the night sky, a reminder of the long-held value of both Rainbow Bridge and the natural night sky to native peoples of the area.” The Utah monument joins three other certified dark-sky sanctuaries worldwide, including Cosmic Campground in New Mexico’s Gila National Forest; Aortea-Great Barrier Island in New Zealand; and Gabriela Mistal in Chile.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
In the 1970s, a handsome ex-Israeli army paratrooper popularized extrasensory perception, or ESP. Uri Geller claimed he could ... see inside sealed containers, and even read other people's minds. Geller ... caught the eye of the intelligence community. "Scientists would consider, 'Wait a minute, maybe we can read the minds of other government officials, [or] see inside a nuclear facility in Russia,'" said national security reporter Annie Jacobsen. Jacobsen has written about the U.S. government's ... attempts to use Uri Geller, and others like him, for psychic espionage. "It's sort of like a highly-classified black program inside of a black program," Jacobsen said. "One, because you don't want the Russians or the Chinese to know what we are doing; and two, because a lot of scientists didn't want their colleagues to know what they were doing." In the 1980s, the Defense Intelligence Agency began "Project Star Gate," which was, according to Dean Radin, a scientist who worked on the program, top secret. The program employed about a dozen psychics and mediums. Its aim: espionage. Angela Ford was with Project Star Gate for nine years. She calls herself a medium; the Defense Department preferred "remote viewer." Her assignment? To look for missing hostages and fugitives without ever leaving a building at Fort Meade in Maryland. She recalled one assignment, in 1989, when she says she was able to psychically track down a former customs agent who had allegedly gone rogue.
Note: Explore lots more solid information on remote viewing – the government's psychic spying program. Could it be that key elements in government don't want us to know of the unlimited powers contained within each of us? See undeniable evidence that remote viewing was quite successful.
MuckRock, a news organization that specializes in filing Freedom of Information Act (FOIA) requests with state and federal government bodies, received mysterious documents about mind control, seemingly by accident. Journalist Curtis Waltman was writing to the Washington State Fusion Center (WSFC), a joint operation between Washington State law enforcement and the federal government to request information about Antifa and white supremacist groups. He got responses to the questions he asked, but also a file titled "EM effects on human body.zip." At least some of the images [in the file] appear to be part of an article in Nexus magazine describing a 1992 lawsuit brought by one John St. Clair Akewi against the NSA. Akewi claimed that the NSA had the "ability to assassinate US citizens covertly or run covert psychological control operations to cause subjects to be diagnosed with ill mental health" and was documenting their alleged methods. The federal government has absolutely experimented with mind control in a variety of methods, but the documents here do not appear to be official. Waltman had no idea why these documents were included in his request and isn't sure why the government is holding them. The WSFC did not respond to requests for more information.
Note: Text and images from the Nexus magazine article referenced above are available on this page. For more along these lines, see our resource-filled mind control information center and concise summaries of deeply revealing mind control news articles from reliable major media sources.
In recent months, Immigration and Customs Enforcement has called for five new detention facilities to be built and operated by private prison corporations across the country. ICE spends more than $2 billion a year on immigrant detention through private jails like [the Joe Corley Detention Facility], owned by GEO Group, the nation's largest private prison company. ICE and the U.S. Marshals Service pay GEO $32 million a year to house, feed and provide medical care for a thousand detainees. Between 2013 and 2014, Douglas Menjivar was one of those ICE detainees. Menjivar says he was raped by gang members in his cell, and when he reported it to the medical staff they mocked him. His lawyer has filed a federal civil rights complaint. Menjivar also says he was forced to work for a dollar a day. The forced labor allegations are part of two class-action lawsuits in federal court. But these are just the latest grievances against the business of immigrant incarceration. Human rights groups ... claim corporations skimp on detainee care in order to maximize profits. In its latest budget request, ICE has asked for more than 51,000 detainee beds - a 25 percent increase over the last year. The two largest private corrections corporations, GEO Group and CoreCivic, each gave $250,000 to Trump's inaugural festivities. The Obama administration [phased] out contracts with private prisons that house immigrants. Since Trump took office, the Bureau of Prisons has restored those contracts.
Note: For more along these lines, see concise summaries of deeply revealing news articles on prison industry corruption and the erosion of civil liberties.
This is the story of a town called Douma ... and of an underground clinic whose images of suffering allowed three of the Western world’s most powerful nations to bomb Syria last week. When I track [a doctor] down in the very same clinic, [he] tells me that the “gas” videotape which horrified the world – despite all the doubters – is perfectly genuine. The same 58-year old senior Syrian doctor then adds something profoundly uncomfortable: the patients, he says, were overcome not by gas but by oxygen starvation in the rubbish-filled tunnels and basements in which they lived. Dr Rahaibani ... showed me his lowly hospital and the few beds where a small girl was crying as nurses treated a cut above her eye. “All the doctors know what happened. There was a lot of shelling [by government forces] and aircraft were always over Douma at night – but on this night, there was wind and huge dust clouds began to come into the basements and cellars where people lived. People began to arrive here suffering from hypoxia, oxygen loss. Then someone at the door, a “White Helmet”, shouted “Gas!”, and a panic began. People started throwing water over each other. Yes, the video was filmed here, it is genuine, but what you see are people suffering from hypoxia – not gas poisoning.” Oddly, after chatting to more than 20 people, I couldn’t find one who showed the slightest interest in Douma’s role in bringing about the Western air attacks. Two actually told me they didn’t know about the connection.
Note: Learn an alternative view of who the "white helmets" are in this Corbett Report. For more along these lines, see concise summaries of deeply revealing war news articles from reliable major media sources.
A former U.S. Secret Service agent named Peter Cavicchia III ran special ops for JPMorgan Chase & Co. His insider threat group ... used computer algorithms to monitor the bank’s employees. Aided by as many as 120 “forward-deployed engineers” from the data mining company Palantir Technologies Inc., which JPMorgan engaged in 2009, Cavicchia’s group vacuumed up emails and browser histories, GPS locations ... and transcripts of digitally recorded phone conversations. It all ended when the bank’s senior executives learned that they, too, were being watched. [The] spying scandal ... which has never been reported, also marked an ominous turn for Palantir. An intelligence platform designed for the global War on Terror was weaponized against ordinary Americans at home. Founded in 2004 by Peter Thiel and some fellow PayPal alumni, Palantir cut its teeth working for the Pentagon and the CIA. The U.S. Department of Health and Human Services uses Palantir. The FBI uses it. The Department of Homeland Security deploys it. Police and sheriff’s departments in New York, New Orleans, Chicago, and Los Angeles have also used it, frequently ensnaring in the digital dragnet people who aren’t suspected of committing any crime. JPMorgan’s experience remains instructive. “The world changed when it became clear everyone could be targeted using Palantir,” says a former JPMorgan cyber expert who worked with Cavicchia at one point on the insider threat team. “Everyone’s a suspect, so we monitored everything.”
Note: Palantir was one of the private intelligence firms that reportedly conspired to discredit activists and journalist Glenn Greenwald, in part by submitting fake documents to WikiLeaks. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the disappearance of privacy.
An Atlantic Ocean current that helps regulate the global climate has reached an 1,000-year low, according to two new studies in the journal Nature. The shift could mean bad news for the climate. The Atlantic Meridional overturning circulation [AMOC] – often called the conveyor belt of the ocean – exchanges warm water from the equator with cold water in the Arctic. The AMOC "plays a key role in the distribution of heat" across the Earth, but that is being disrupted by melting ice, particularly from Greenland, causing larger volumes of freshwater to flow through the oceans, says David Thornalley ... the lead author of one of the new studies. Some scientists are concerned the influx of freshwater could cause the current to shut down altogether. Scientists are worried about the AMOC shutting down "because evidence from the past suggests that it actually did happen during the last ice age, and it is possible that it could happen in the future," [Thornalley] says. While there is an ongoing dispute about what is causing the slowdown, scientists agree that it could have a dramatic impact on ocean ecosystems, such as coral reefs and deep-sea sponge grounds. "These delicate ecosystems rely on ocean currents to supply their food and disperse their offspring," Prof Murray Roberts, who co-ordinates the Atlas project at the University of Edinburgh, told BBC News. "Ocean currents are like highways spreading larvae throughout the ocean, and we know these ecosystems have been really sensitive to past changes in the Earth's climate."
Note: For more along these lines, see concise summaries of deeply revealing climate change news articles from reliable major media sources.
A television actress best known for playing a young Superman’s close friend was charged with sex trafficking. Allison Mack was accused in an indictment unsealed Friday in federal court in Brooklyn. Mack, 35, starred in The CW network’s “Smallville,” ending in 2015. Prosecutors said she helped recruit women for leader Keith Raniere and his cult-like organization called NXIVM. She told the women they were joining what was purported to be a female mentorship group. But “the victims were then exploited, both sexually and for their labor,” according to federal prosecutors. Prosecutors said she required women she recruited to engage in sexual activity with Raniere, who paid Mack in return. Raniere, 57, was arrested last month. The FBI has filed sex trafficking charges against him, saying that with the help of mostly female assistants, he blackmailed and coerced women into unwanted sex. Raniere sold himself as a self-improvement guru. NXIVM promoted Raniere’s teachings as a kind of mystical, executive coaching. Women who were part of a NXIVM subgroup [came] forward to say that they had been physically branded with a surgical tool against their will. Prosecutors said in court papers that Raniere created a society within NXIVM called “DOS” - an acronym based on a Latin phrase that loosely translates to “Lord/Master of obedient female companions.” Women were required to provide damaging material about their friends and family, naked photos and even sign over their assets as a condition for joining, they said.
Note: Watch the revealing video at the above link. For more along these lines, see concise summaries of deeply revealing news articles on sexual abuse scandals and mind control.
The nation's six big Wall Street banks posted record, or near record, profits in the first quarter. While higher interest rates allowed banks to earn more from lending in the first quarter, the main boost ... came from the billions of dollars they saved in taxes under the tax law Trump signed in December. Combined, the six banks saved at least $3.59 billion last quarter, according to an Associated Press estimate, using the bank's tax rates going back to 2015. Before the change in tax law, the maximum U.S. corporate income tax rate was 35 percent, not including what companies paid in state income taxes. Banks historically paid some of the highest taxes among the major industries, due to their U.S.-centric business models. Before the Trump tax cuts, these banks paid between 28 to 31 percent of their income each year in corporate taxes. The results released over the past week show how sharply those rates have dropped. JPMorgan Chase said it had a first-quarter tax rate of 18.3 percent, Goldman Sachs paid just 17.2 percent in taxes, and ... Citigroup, had a tax rate of 23.7 percent. This is just one quarter's results. Bank executives at the big six firms have estimated that their full-year tax rates will be something closer to 20 percent to 22 percent. The AP's calculations are roughly in line with what Wall Street analysts predicted. Bank industry analyst Mike Mayo ... estimated that that the big U.S. banks combined would save roughly $19 billion in taxes for the full year.
Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the financial industry.
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.