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.
In the largest opium harvest in Afghanistan's history; with a record 224,000 hectares under cultivation this year, the country produced an estimated 6,400 tons of opium, or around 90 percent of the world's supply. In Afghanistan today, according to U.N. estimates, the opium industry accounts for 15 percent of the economy. The Afghan narcotics trade has gotten undeniably worse since the U.S.-led invasion: The country produces twice as much opium as it did in 2000. In the provincial capital of Lashkar Gah, I arrange an interview with a drug smuggler. I'll call him Sami. He grew up in a camp near the border town of Chagai, in Pakistan. After finishing 11th grade, he got work as a driver and began ... smuggling opium through the desert. Baramcha, a smuggling hub on the Afghan side of the border ... functions as a kind of switching station for much of the opium trade. "The security situation is good ... the drug smugglers and the ISI are tight together," he says, referring to Pakistan's intelligence service. The United States' alliances with opium traffickers in Afghanistan go back to the 1980s, when the CIA waged a dirty war to undermine the Soviet occupation of the country. Large-scale cultivation was introduced [with] support from the ISI and the CIA. U.S. counternarcotics programs, which have cost nearly $8 billion to date, and the Afghan state-building project in general, are perversely part of ... the drug trade.
Note: Read the complete article above for an in depth look at the Afghan narcotics trade. For more, read this 2002 news article, which shows that the Taliban had nearly eliminated opium production in Afghanistan prior to the US led invasion. Yet once the allies defeated the Taliban, opium production hit new records. Today, Afghanistan produces 90% of the global opium supply. This huge source of income is used to fund all kinds of secret projects. Read powerful evidence that the CIA and US military are directly involved in the drug trade.
The American Red Cross regularly touts how responsible it is with donors' money. "We're very proud of the fact that 91 cents of every dollar that's donated goes to our services," Red Cross CEO Gail McGovern said in a speech in Baltimore last year. The problem with that number: It isn't true. After inquiries by ProPublica and NPR, the Red Cross removed the statement from its website. In recent years, the Red Cross' fundraising expenses alone have been as high as 26 cents of every donated dollar. But even that understates matters. The charity spends additional money on "management and general" expenses. That means the portion of donated dollars going to overhead is even higher. After being contacted by ProPublica and NPR, the charity changed the wording on its website to another formulation it frequently uses: that 91 cents of every dollar the charity "spends" goes to humanitarian services. But that too is misleading to donors. The charity spent $467 million, or 14 percent of total spending, on its famous domestic disaster response programs, including the expensive Sandy relief effort. The Red Cross doesn't break down its spending on overhead and declined ProPublica and NPR's request to do so. Other figures the Red Cross frequently cites also appear to be unreliable.
Note: This ongoing NPR/ProPublica investigation has also found that the Red Cross used courts to hide its spending habits, and diverted funds from disaster relief to manipulate the media. For more along these lines, see concise summaries of deeply revealing articles about corporate corruption from reliable sources.
In a damning 2009 report, Ireland’s independently-run Commission to Inquire into Child Abuse – which spent nine years investigating thousands of allegations of abuse at religious-run institutions – spoke of a culture of “endemic sexual abuse” in the country’s Catholic boys’ schools and of the “deferential and submissive attitude” of the Irish state towards the religious orders who ran them. What emerged from the investigation, and from a separate Dublin-specific inquiry concluded the same year, was that institutional child abuse was widespread and that it had occurred not only in schools, but in many places where young people were in the care of religious orders. The commissions also revealed that very often when children reported the abuse, they were largely ignored and even punished. The state, too, had willfully turned a blind eye. The very ordinariness of [the abuse] struck photographer Kim Haughton as profoundly disturbing. This was molestation that was at once hidden and woven into the fabric of everyday life. “So much of this happened in places like schools and churches, and in homes,” she tells TIME. And so she embarked on In Plain Sight, a project in which the [actual] sites of these abuses became the subjects of her lens ... places that, when taken at face value, seem unremarkable. “The work, I hope, challenges us to confront these crimes in the context in which they happened,” Haughton adds, “everyday life.”
Note: Read the complete story to see photos from In Plain Sight. Explore powerful evidence from a suppressed Discovery Channel documentary showing that child sexual abuse scandals also reach to the highest levels of government in the US. And read an abundance of major media news articles showing rampant child sexual abuse at high levels in many prominent organizations.
Entrepreneurs and established companies alike depend on the U.S. Patent and Trademark Office. Newly released documents reveal that the office, tasked with evaluating and protecting the rights to intellectual property, has a covert system for delaying controversial or inconvenient patents. It’s a system that ... could function as a way to limit or stomp out emerging companies. Before today, the program — named the Sensitive Application Warning System (SAWS) — has been mentioned only anecdotally by examiners who work in or with the office, and in a government memo that was leaked in March 2006. However, a new 50-page document obtained by a law firm’s Freedom of Information Act request shows the sweeping scope and conflicting interests of this particular set of rules. The law firm behind the request, Kilpatrick Townsend & Stockton LLP, frequently represents major tech companies, including Apple, Google, Twitter, and Oracle. For Thomas Franklin, a partner at Kilpatrick Townsend, applications that he prosecutes typically issue as patents 22 months after filing. Any application that is categorized in SAWS, however ... can be delayed for years. There is no official channel to notify an applicant once her patent is placed in the system. Franklin told Yahoo Tech., “That’s what piqued my interest as a constitutional issue. There’s a secret program that they’re not supposed to talk about.”
Note: When the government has a "property interest" in any patent application, it may be rejected, stolen, or classified according to secret criteria. Among new energy technology researchers, it is well known that the patent office can block patents of amazing inventions that could cost oil and energy companies billions of dollars. Read this excellent summary for more on this.
The U.S. Air Force has kept an unmanned space shuttle in orbit for the past two years. No one without security clearance knows what it’s been doing up there. The X-37B Orbital Test Vehicle, which can enter orbit and land without human intervention, is scheduled to touch down this week. The landing will mark completion of the program’s third and longest mission. The Air Force has two such spacecraft for these low-earth orbit missions, all of which are classified. “The mission is basically top secret,” says Captain Chris Hoyler, an Air Force spokesman. Marco Caceres, a space analyst with Teal Group, says the Air Force is most likely interested in having a surveillance platform that can “maneuver in orbit faster” than satellites. The Air Force appears to be planning a future for the program. Speculation has flourished online about what the government is doing. Theories range from surveillance to [developing] the platform for a new generation of kinetic weapons that can be used from space [to] testing the craft so it can eventually drop special-forces soldiers from space to anywhere on the planet, within minutes.
Note: For more along these lines, see concise summaries of deeply revealing news articles about government secrecy from reliable major media sources.
Whistleblower Edward Snowden received several standing ovations in the Swedish parliament after being given the Right Livelihood award for his revelations of the scale of state surveillance. Snowden, who is in exile in Russia, addressed the parliament by video from Moscow. In a symbolic gesture, his family and supporters said no one picked up the award on his behalf in the hope that one day he might be free to travel to Sweden to receive it in person. Snowden is wanted by the US on charges under the Espionage Act. His chances of a deal with the US justice department that would allow him to return home are slim and he may end up spending the rest of his days in Russia. His supporters hope that a west European country such as Sweden might grant him asylum. The awards jury, in its citation, said Snowden was being honoured “for his courage and skill in revealing the unprecedented extent of state surveillance violating basic democratic processes and constitutional rights”. The chamber was filled with members of parliament from almost all the parties. The Guardian editor, Alan Rusbridger, was also among the recipients. The jury citation said his award was in celebration of “building a global media organisation dedicated to responsible journalism in the public interest, undaunted by the challenge of exposing corporate and government malpractices”.
Note: For more along these lines, read how Wikipedia founder Jimmy Wales considers Edward Snowden a hero. For more on the Snowden case, see the deeply revealing reports from reliable major media sources available here.
New York state health officials have stopped a nonprofit group from providing free medical care to thousands of patients lacking health insurance during a four-day dental conference that starts Friday. The nonprofit, Remote Area Medical, had raised $3 million and enlisted hundreds of volunteer doctors and other medical workers to offer a range of health services, including dental care, new eyeglasses and other services. The group had planned to treat about 7,000 patients at the New York Sate event. In September, the New York State Department of Health told the volunteer group, founded in 1985, that it could not treat patients at the conference unless it partnered with an established, state-licensed medical organization. Despite last-minute efforts, the partnership could not be arranged in time, and the nonprofit group said it found out this week that the state would not waive the requirement. “This was incredibly disappointing and will mean that thousands of patients won’t get the care they desperately need,” said Stan Brock, the founder of Remote Area Medical. Brock said state health officials told him during negotiations that the free health services his organization provides were not needed. But Brock said there are tens of thousands of New Yorkers, including homeless people, who are in need of free healthcare.
Note: For more along these lines, see concise summaries of deeply revealing health corruption news articles from reliable major media sources.
Front companies in the UK are at the heart of an investigation into ... a conspiracy to make $20bn (Ł12.5bn) of dirty money look legitimate. The funds are believed to have come from major criminals and corrupt officials around the world. An investigation by The Independent and the Organised Crime and Corruption Reporting Project, an NGO, has identified dozens of ... front companies in the UK which carried out massive phoney business deals between themselves. These front companies then sued each other in courts in Moldova, demanding the repayment of hundreds of millions of pounds of loans. A judge in Moldova ... would rule in favour of the claimant company, which would then receive the cash from the other front firm – with an all-important signed court document ordering the debt to be paid. But rather than being transferred from one legitimate British company to another, the funds were being routed from Russia, where gangs from around the world go to launder money from corruption, drug dealing, prostitution and people smuggling. Their tainted money would first be put into the UK front companies’ accounts in Moldova before being transferred to another bank in Latvia. This final stage adds to the dirty money’s “clean” appearance. The UK bank accounts involved include ones at UBS in London, HSBC, RBS, NatWest and Citibank.
Note: Here is a diagram of this complex international money laundering scam. For more along these lines, see these concise summaries of deeply revealing articles about widespread corruption in government and banking and finance.
Jeffrey Wright is well known around his high school in Louisville, Ky., for his antics as a physics teacher. But it is a simple lecture — one without props or fireballs — that leaves the greatest impression on his students each year. The talk is about Mr. Wright’s son and the meaning of life, love and family. Each year, Mr. Wright gives a lecture on his experiences as a parent of a child with special needs. His son, Adam, now 12, has a rare disorder called Joubert syndrome, in which the part of the brain related to balance and movement fails to develop properly. Visually impaired and unable to control his movements, Adam breathes rapidly and doesn’t speak. Mr. Wright ... recalls the day Adam was born, and the sadness he felt when he learned of his condition. “The whole thing about where the universe came from? I didn’t care. I started asking myself, what was the point of it?” All that changed one day when Mr. Wright ... realized that his son could see and play — that the little boy had an inner life. He and his wife, Nancy, began teaching Adam simple sign language. One day, his son signed “I love you.” “There is something a lot greater than energy. There’s something a lot greater than entropy. What’s the greatest thing?” “Love,” his students whisper. “That’s what makes the ‘why’ we exist,” Mr. Wright tells the spellbound students.
Note: Watch this beautiful, 12-minute video on Mr. Wright's Law of Love. Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
A campaign launching Tuesday aims to get growing businesses to do what San Francisco’s Salesforce.com did in its infancy 15 years ago: Promise to donate 1 percent of its equity, 1 percent of its employees’ time and 1 percent of the firm’s products to charity. Called the Pledge 1% Program — and led by Salesforce and others — it aims to get 500 other corporations to do the same over the next year. Those who have bought into the idea have seen other benefits. “It’s good for business, too,” said Bradley Heinz, program manager at Optimizely.org. The San Francisco company — which includes several top execs who used to work at Salesforce — is participating in the program. If a younger company can make philanthropy part of its DNA when it is smaller, it will become a way of life as it grows. It is somewhat easier to convince a young firm to volunteer time and offer its product at a deeply discounted rate. San Francisco’s income inequality divide — the fastest-growing in the country — is inspiring other growing companies to look at what they can do to help. Employees at Practice Fusion, a cloud medical records company in San Francisco, decided that they would take $50,000 that would have been used for their holiday gift and give it to the poor. “People were not that into the gifts and schwag,” said Practice Fusion CEO Ryan Howard. “They wanted to give back.”
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Pope Francis stood Saturday for two minutes of silent prayer facing east in one of Turkey's most important mosques, a powerful vision of Christian-Muslim understanding at a time when neighboring countries are experiencing violent Islamic assault on Christians and religious minorities. The Vatican spokesman, Rev. Federico Lombardi called it a moment of "silent adoration." It was a remarkably different atmosphere from Francis' first day in Turkey, when the simple and frugal pope was visibly uncomfortable with the pomp and protocol required of him for the state visit part of his trip. With President Recep Tayyip Erdogan's mega-palace, honor guard and horseback escort now behind him, Francis got down to the business of being pope, showing respect to Muslim leaders, celebrating Mass for Istanbul's tiny Catholic community and meeting with the spiritual leader of the world's 300 million Orthodox Christians. Francis' visit comes at an exceedingly tense time for Turkey, with Islamic State militants grabbing territory next door in Syria and Iraq and sending some 1.6 million refugees fleeing across the border. Some refugees were expected to attend Francis' final event on Sunday before he returns to Rome. Francis was following in the footsteps of Pope Benedict XVI, who visited Turkey in 2006 amid heightened Christian-Muslim tensions over a now-infamous papal speech linking violence with the Prophet Mohammed.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
"People try and run away from things and to forget, but with psychedelic drugs they're forced to confront and really look at themselves," explains Dr Robin Carhart-Harris, from Imperial College London. The drugs Carhart-Harris is referring to are hallucinogens such as magic mushrooms -- specifically the active chemical inside them, psilocybin. Carhart-Harris scanned the brains of 30 healthy volunteers after they had been injected with psilocybin and found the more primitive regions of the brain associated with emotional thinking became more active and the brain's "default mode network," associated with high-level thinking, self-consciousness and introspection, was disjointed and less active. "We know that a number of mental illnesses, such as OCD and depression, are associated with excessive connectivity of the brain, and the default mode network becomes over-connected," says David Nutt, professor of neuropsychopharmacology, who leads the Imperial College team. The over-connectivity Nutt describes causes depressed people to become locked into rumination and concentrate excessively on negative thoughts about themselves. Depression is estimated to affect more than 350 million people around the world. The current pharmaceutical approach to treatment is with selective serotonin re-uptake inhibitors (SSRIs), such as Prozac. But SSRIs ... are generally prescribed for long periods of time to maintain their effect. Nutt thinks psilocybin could be a game-changer, used as part of a therapeutic package ... to treat people within just one or two doses of treatment.
Note: For more about the therapeutic uses of psychedelic drugs, see these concise summaries of deeply revealing news articles from reliable sources.
In 2003, caravans of trucks began to arrive at Andrews Air Force Base outside Washington on a regular basis, unloading an unusual cargo — pallets of shrink-wrapped $100 bills. The cash, withdrawn from Iraqi government accounts held in the United States, was loaded onto Air Force C-17 transport planes bound for Baghdad. Exactly what happened to that money after it arrived? Finding the answer became first the job and then the obsession of Stuart W Bowen Jr. His investigators finally had a breakthrough, discovering that $1.2 billion to $1.6 billion had been stolen and moved to a bunker in rural Lebanon. Bowen kept the discovery and his investigation of the cash-filled bunker ... secret. He has never publicly discussed it until now. “Billions of dollars have been taken out of Iraq over the last ten years illegally,” he said. The money ... came from the Development Fund of Iraq, which was created by a United Nations resolution in May 2003 to hold Iraqi oil revenue. An advantage of using the cash from the Development Fund instead of money appropriated by Congress for Iraq was that there were not a lot of rules governing its use, and no federal regulations or congressional oversight of what happened to it. The CIA expressed little interest in pursuing the matter, and the FBI said it lacked jurisdiction, Bowen recalled. An informant told [Bowen] about the bunker, which in addition to the cash, was believed to also have held approximately $200 million in gold belonging to the Iraqi government.
Note: For more along these lines, see concise summaries of deeply revealing news articles about wartime deceptions and government secrecy from reliable major media sources.
Breast cancer giant Susan G. Komen has found its strangest bedfellow yet in one of the world’s largest oilfield services corporations, Baker Hughes. The two have teamed up for a second year to distribute 1,000 pink drill bits to oil fields worldwide. This is just the latest example of “pinkwashing” – when a company or organization claims to care about breast cancer by promoting a pink-ribbon product but at the same time manufactures or sells products that are linked to the disease. Pinkwashing has become a central component of the breast cancer industry: a web of relationships and financial arrangements between corporations that cause cancer, companies making billions off diagnosis and treatment, nonprofits seeking to support patients or even to cure cancer, and public relations agencies that divert attention from the root causes of disease. The partnership with fracking company Baker Hughes is among the worst examples of Komen’s pinkwashing so far. More than 700 chemicals are used in the process of drilling and fracking for oil and gas. In a study of about 350 of those chemicals, researchers found that up to half can cause health problems, including nervous, immune and cardiovascular symptoms. More than one-third can disrupt the hormone system. And a quarter of the chemicals, such as benzene and formaldehyde, increase the risk of cancer. Baker Hughes is doing more to cause breast cancer than to cure it. And Komen, with its poisonous partnerships, is giving Baker Hughes — and many other companies — the perfect pink disguise.
Note: For more along these lines, read this Los Angeles Times article about how fracking introduces carcinogens into drinking water, and see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.
A new analysis of the data available to the public about drone strikes, conducted by the human-rights group Reprieve, indicates that even when operators target specific individuals – the most focused effort of what Barack Obama calls “targeted killing” – they kill vastly more people than their targets, often needing to strike multiple times. Attempts to kill 41 men resulted in the deaths of an estimated 1,147 people, as of 24 November. Reprieve [focused on] cases in which specific people were targeted by drones multiple times. Their data, shared with the Guardian, raises questions about the accuracy of US intelligence. The analysis is a partial estimate. “Drone strikes ... are only as precise as the intelligence that feeds them. There is nothing precise about intelligence that results in the deaths of 28 unknown people, including women and children, for every ‘bad guy’ the US goes after, ”said Reprieve’s Jennifer Gibson. The data cohort is only a fraction of those killed by US drones. Neither Reprieve nor the Guardian examined ... the so-called “signature strikes” that attack people based on a pattern of behavior considered suspicious, rather than intelligence tying their targets to terrorist activity. An analytically conservative Council on Foreign Relations tally assesses that 500 drone strikes outside of Iraq and Afghanistan have killed 3,674 people. Like all weapons, drones will inevitably miss their targets. But the secrecy surrounding them obscures how often misses occur and the reasons for them.
Note: For more along these lines, see concise summaries of deeply revealing military corruption news articles from reliable major media sources, including this NPR article that reports on the possibility of future drone strikes taking place within the US.
It has been more than two years since The New York Times revealed that “Mr. Obama embraced a disputed method for counting civilian casualties” of his drone strikes which “in effect counts all military-age males in a strike zone as combatants ... unless there is explicit intelligence posthumously proving them innocent.” The paper noted that “this counting method may partly explain the official claims of extraordinarily low collateral deaths,” and even quoted CIA officials as deeply “troubled” by this decision. After the Times article, most large western media outlets continued to describe completely unknown victims of U.S. drone attacks as “militants” — even though they (a) had no idea who those victims were or what they had done and (b) were well-aware by that point that the term had been “re-defined” by the Obama administration. Like the U.S. drone program itself, this deceitful media practice continues unabated. The U.S. government itself —let alone the media outlets calling them “militants”— often has no idea who has been killed by drone strikes in Pakistan. The Intercept previously reported that targeting decisions can even be made on the basis of nothing more than metadata analysis and tracking of SIM cards in mobile phones. Just last month, the Bureau of Investigative Journalism documented that “fewer than 4% of the people killed have been identified by available records as named members of al Qaeda.”
Note: For more along these lines, see concise summaries of deeply revealing news articles about military corruption and high level manipulation of mass media from reliable sources.
The security services are facing questions over the cover-up of a Westminster paedophile ring as it emerged that files relating to official requests for media blackouts in the early 1980s were destroyed. Two newspaper executives have told the Observer that their publications were issued with D-notices – warnings not to publish intelligence that might damage national security – when they sought to report on allegations of a powerful group of men engaging in child sex abuse in 1984. One executive said he had been accosted in his office by 15 uniformed and two non-uniformed police over a dossier on Westminster paedophiles passed to him by the former Labour cabinet minister Barbara Castle. The other said that his newspaper had received a D-notice when a reporter sought to write about a police investigation into Elm Guest House, in southwest London, where a group of high-profile paedophiles was said to have operated. Theresa May, home secretary, this month told the Commons that an official review into whether there had been a cover-up of the Home Office’s handling of child-abuse allegations in the 1980s ... was prompted by the discovery that 114 Home Office files related to child abuse in the 1980s had gone missing. The two journalists, Don Hale, the former editor of the Bury Messenger, and Hilton Tims, news editor of the Surrey Comet between 1980 and 1988, both recall their publications being issued with D-notices around 1984.
Note: Explore powerful evidence from a suppressed Discovery Channel documentary showing that child sexual abuse scandals also reach to the highest levels of government in the US. For more along these lines, see these concise summaries of deeply revealing government corruption and sex abuse scandal news articles from reliable sources.
Police are investigating possible murders linked to Elm Guest House in south-west London after claims of a cover-up. A number of allegations have been made. So far the only politician to have been implicated is the Liberal MP Cyril Smith, who died in 2010, but other unnamed politicians were also alleged to have been involved in a Westminster paedophile ring. Smith is alleged to have abused boys at Knowl View residential school in Rochdale and at Elm Guest House, in Barnes in south-west London, in the 1970s and 80s. Greater Manchester police are investigating allegations of abuse by Smith at Knowl View, where Smith was a governor. Other MPs were said to have attended the Elm Guest House. After claims made by the Labour MP Tom Watson in 2012, the Metropolitan police launched Operation Fairbank into child abuse at the guesthouse. Watson said there was “clear intelligence suggesting a powerful paedophile network linked to parliament and No 10”. A dossier of evidence of an alleged paedophile ring, involving several MPs, including Smith, and other public figures, was handed to the Home Office in 1983, by the Conservative MP Geoffrey Dickens, who died in 1995. The 40-page dossier has since been destroyed or lost, according to a Home Office review. At least three MPs were reported to have been questioned in 1982 after a police raid on the guesthouse. It was reported at the time that it was being used as a brothel where children as young as 10 were abused. Two children living in the house were taken into care.
Note: Explore powerful evidence from a suppressed Discovery Channel documentary showing that child sexual abuse scandals also reach to the highest levels of government in the US. And read an abundance of major media news articles showing rampant child sexual abuse at high levels in many prominent organizations.
Goldman Sachs and HSBC are among four platinum and palladium dealers to be sued in New York for allegedly fixing the price of the metals. The four companies are said to have rigged prices for eight years. BASF and Standard bank were also sued in the first lawsuit of its kind in the US. The four defendants declined to comment. Modern Settings, a Florida-based maker of jewellery and police badges, said purchasers lost millions of dollars. The Florida company filed the complaint in Manhattan federal court. The companies were accused of having conspired since 2007 to rig the twice-daily platinum and palladium fixings. It is alleged that the companies illegally shared customer data and then used that information to engage in front running ... a form of market manipulation in which traders profit by using information about their clients' trading intentions. Traders will often know how a particular client order will affect the market and can place their own trades ahead of that order to benefit. The four companies in this case are also accused of manufacturing "spoof" orders. Goldman, HSBC and Standard Bank declined to comment. International regulators have tightened scrutiny of pricing benchmarks in recent years. The tighter regulation comes after a currency trading scandal and the Libor scandal, which fixed a benchmark interest rate.
Note: For more along these lines, see these concise summaries of deeply revealing articles about widespread corruption in banking and finance. For additional information, see the excellent, reliable resources provided in our Banking Corruption Information Center.
From his desk in Lower Manhattan, a banker at Goldman Sachs thumbed through confidential documents — courtesy of a source inside the United States government. The banker came to Goldman through the so-called revolving door ... that connects financial regulators to Wall Street. He joined in July after spending seven years as a regulator at the Federal Reserve Bank of New York, the government’s front line in overseeing the financial industry. He received the confidential information, lawyers briefed on the matter suspect, from a former colleague who was still working at the New York Fed. The previously unreported leak, recounted in interviews with the lawyers briefed on the matter who spoke anonymously ... illustrates the blurred lines between Wall Street and the government. When Goldman hired the former New York Fed regulator, who is 29, it assigned him to advise the same type of banks that he once policed. And the banker obtained confidential information [that] provided Goldman a window into the New York Fed’s private insights. The emergence of the leak comes as questions mount about a perceived coziness between the New York Fed and Wall Street banks — Goldman in particular. Revelations from a former New York Fed employee, Carmen Segarra, recently stoked that debate. Ms. Segarra released taped conversations suggesting that her supervisors went soft on Goldman. The new accounts of a regulator and a banker actually sharing confidential documents — violating a cardinal rule of the regulatory world — suggest that ... Goldman, perhaps more than any other Wall Street bank, appears to be entwined with the New York Fed.
Note: For more along these lines, see these concise summaries of deeply revealing articles about widespread corruption in government and banking and finance. For additional information, see the excellent, reliable resources provided in our Banking Corruption Information Center.
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.