News StoriesExcerpts of Key News Stories in Major Media
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On 11 March 1958, in Mars Bluff, South Carolina, a man called Walter Gregg was building shelves in his shed with his son, when a Mark 6 atom bomb landed in his yard. Mrs Gregg was inside [the house], sewing. The little Gregg girls were playing outside. The fissile core of the bomb had been removed for safer transit, but the explosives that powered it nonetheless blew the Gregg house to bits, killing half a dozen of the Gregg chickens. In military talk this sort of thing is known as a "broken arrow", an accident involving nuclear weapons that falls short of causing risk of war, and Schlosser's book is about the several dozens of these that have happened – counting only those of US origin – since the atomic bomb was invented in 1945. The next-up sort of accident is called a Nucflash. So far, it hasn't happened, but Schlosser considers this due as much to luck as anything else. [The book] aims to "pierce a false sense of comfort", ... the popular assumption that ... the threat of nuclear escalation has gone away for good. It hasn't, is Schlosser's miserable message. "They are out there, soulless and mechanical, sustained by our denial – and they work." In this book, he's interested in how "the effort to control nuclear weapons – to ensure that one doesn't go off by accident" is undermined, over and over again, by demands from the military for bombs they can trust to explode.
Note: Watch a 16-minute interview with Erik Schlosser showing how close we have come to accidental nuclear explosions. For more on this, see concise summaries of deeply revealing nuclear risk news articles from reliable major media sources.
The handsome Edwardian house that was formerly Elm Guest House, near Barnes, in south-west London, was long ago converted into flats. Some 30 years ago, the convenient location was similarly appealing. Today ... this suburban house is at the heart of a simmering scandal threatening to boil over and take with it the reputations of a swath of the political class of the 1970s and 1980s. In 2012 Tom Watson, the Labour MP who played a key role in exposing the phone-hacking scandal at the News of the World, stood up in parliament to ask the prime minister to ensure that a dossier of information used in 1992 to convict a notorious paedophile called Peter Righton was examined thoroughly. Watson said he believed the file, if it still existed, would provide some evidence of a "powerful paedophile network linked to parliament and No 10". Claims have since materialised about boys from Grafton Close Children's Home in Hounslow, west London, being taken to Elm Guest House, plied with alcohol and abused. Cyril Smith, the late Liberal MP, accused since his death in 2010 of being an inveterate child abuser, is said to have regularly visited the property. Back in 1983, Geoffrey Dickens, a Tory MP, had got wind of something of this. He compiled a dossier, telling his family it was "explosive" and would "blow the lid" on powerful and famous child abusers. The dossier was handed over to the then home secretary, Leon Brittan, who acknowledged receipt in a letter and suggested the police had been informed. [But] nothing was heard of the Dickens dossier again.
Note: Watch powerful evidence in a suppressed Discovery Channel documentary showing that child sexual abuse scandals reach to the highest levels of government. For more on this, see concise summaries of deeply revealing sexual abuse scandals news articles from reliable major media sources.
From politicians’ fraudulent expenses to phone hacking, Britain has become surprisingly scandal-strewn in recent years, but the latest reputational cyclone to sweep across its shores is casting an especially dark light: pedophilia in high places. Newspapers and TV bulletins have been dominated for the past week by allegations that politicians with links to Margaret Thatcher’s government sexually abused vulnerable children in the 1980s and hid the truth for decades through their “chumocracy.” Suspicions of an establishment cover-up involving government departments, Scotland Yard and other elements of the establishment intensified in recent days when the law-and-order ministry, the Home Office, confirmed [that] dozens of potentially-relevant files alleging sexual misconduct had gone missing from its archives. The allegations—which center around the suggestion that politicians of all parties and other VIPs preyed on children at a guest house in the London suburb of Barnes—have been given greater credence because in the past two years a string of national figures have been exposed as predatory pedophiles. Into this febrile atmosphere, Tom Watson, a Labour Party lawmaker, told the House of Commons in October 2012 that police should “investigate clear intelligence suggesting a powerful pedophile network linked to Parliament and Number 10.” As a result of Watson and online news agency Exaro’s investigations, Scotland Yard launched Operation Fernbridge, an inquiry into the now-notorious Elm Guest House.
Note: Watch powerful evidence in a suppressed Discovery Channel documentary showing that child sexual abuse scandals reach to the highest levels of government. For more on this, see concise summaries of deeply revealing sexual abuse scandals news articles from reliable major media sources.
The Peace Corps’ inspector general says she can’t oversee the agency properly without access to sex-assault records it refuses to hand over. Since 2008, Peace Corps Inspector General Kathy Buller has led internal investigations that have led to 21 criminal convictions for crimes such as rape, attempted rape, abuse of minors, embezzlement, theft and possession of narcotics. Buller charged the Peace Corps with [hindering] her office’s oversight efforts, and said the agency was not fully disclosing its sexual assault reports. In 2011, [ABC News] reported that more than 1,000 female Peace Corps volunteers have been raped or sexually assaulted in the past decade, and that some victims felt the agency either sought to cover up incidents or treated victims with insensitivity. The murder of Peace Corps volunteer Kate Puzey in Benin seized public attention in 2011. The volunteer was found dead after she reported her suspicions that a Peace Corps contractor was sexually harassing students at the school where she taught. Less than a year after her death, Congress passed reforms to protect whistleblowers like Puzey and to improve the agency’s sexual assault practices. But even after Puzey’s murder, sexual assault still remains a problem for the Peace Corps and the thousands of volunteers they send abroad.
Note: For more on this, see concise summaries of deeply revealing sexual abuse scandals news articles from reliable major media sources.
In recent weeks, the managers, employees and customers of a New England chain of supermarkets called Market Basket have joined together to oppose the board of directors' decision in June to oust the chain's popular chief executive, Arthur T. Demoulas. Their demonstrations and boycotts have emptied most of the chain's 71 stores. What was so special about Arthur T., as he's known? Mainly, his business model. He kept prices lower than his competitors, paid his employees more, and gave them and his managers more authority. Late last year, he offered customers an additional 4 percent discount, arguing they could use the money more than the shareholders. In other words, Arthur T. viewed the company as a joint enterprise from which everyone should benefit, not just shareholders. Which is why the board fired him. Patagonia, a large apparel manufacturer based in Ventura, has organized itself as a "B corporation." That's a for-profit company whose articles of incorporation require it to take into account the interests of workers, the community and the environment as well as shareholders. The performance of B corporations according to this measure is regularly reviewed and certified by a nonprofit entity called B Lab. To date, more than 500 companies in 60 industries have been certified as B corporations, including the household products firm Seventh Generation. In addition, 27 states have passed laws allowing companies to incorporate as "benefit corporations." This gives directors legal protection to consider the interests of all stakeholders rather than just the shareholders who elected them.
Note: What would the world be like if each corporation put the welfare of its workers and quality of its products at the same level of priority as profits for its stockholders? For more on this, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.
For years, pundits have warned that the world's soaring population ... will usher in an age of scarcity. We already have a hard time supplying 7 billion people with food, with energy, with water. What happens when we hit 9 billion, the Earth's projected population in 2050? Stefan Heck and Matt Rogers say the resources are there - and the way we use them is about to undergo radical change. In their new book, Resource Revolution, they argue that information technology and advanced materials science, combined with new business models, will enable companies and societies to do far more with far less. It will be, they claim, a jump in productivity and efficiency greater than anything seen before. Heck, who teaches resource economics at Stanford University, and Rogers, a director of the McKinsey & Co. consulting firm, spoke with The Chronicle. Q: So current forecasts call for the world to add 2 billion people by 2050. Do we have the resources to give them a decent standard of living? Rogers: Take an example California faces right now - water. If you look at the next 20 years, we need to double the economic output for every unit of water we use. The good news is, in agriculture, we have a set of technologies where we can get much higher yields with the water that's available. Q: How about energy? Rogers: This resource revolution affects both how we produce and consume energy. With the dramatic increases in fuel economy we're seeing, from electrification and hybrids but also improvements in the internal combustion energy, you see an ability to improve the use of energy.
Note: For more on this, see concise summaries of deeply revealing energy news articles from reliable major media sources.
Your next commuter car could have two seats, three wheels and get 84 miles to the gallon. Elio Motors wants to revolutionize U.S. roads with its tiny car, which is the same length as a Honda Fit but half the weight. With a starting price of $6,800, it's also less than half the cost. Phoenix-based Elio plans to start making the cars next fall at a former General Motors plant in Shreveport, Louisiana. Already, more than 27,000 people have reserved one. Elio hopes to make 250,000 cars a year by 2016. Because it has three wheels — two in front and one in the rear — the Elio is actually classified as a motorcycle by the U.S. government. But Elio Motors founder Paul Elio says the vehicle has all the safety features of a car, like anti-lock brakes, front and side air bags and a steel cage that surrounds the occupants. Drivers won't be required to wear helmets or have motorcycle licenses. The Elio's two seats sit front and back instead of side by side, so the driver is positioned in the center with the passenger directly behind. The Elio has a three-cylinder, 0.9-liter engine and a top speed of more than 100 miles per hour. It gets an estimated 84 mpg on the highway and 49 mpg in city driving. Elio keeps the costs down in several ways. The car only has one door, on the left side, which shaves a few hundred dollars off the manufacturing costs. Having three wheels also makes it cheaper. It will be offered in just two configurations — with a manual or automatic transmission — and it has standard air conditioning, power windows and door locks and an AM/FM radio. More features, such as navigation or blind-spot detection, can be ordered.
Note: For more on this, see concise summaries of deeply revealing alternative automotive technology news articles from reliable major media sources.
Marijuana's non-intoxicating cousin is undergoing a rebirth in a state at the forefront of efforts to reclaim it as a mainstream crop. Researchers and farmers are producing the first legal hemp crop in generations in Kentucky, where hemp has turned into a political cause decades after it was banned by the federal government. The comeback is strictly small scale. Experimental hemp plots more closely resemble the size of large family gardens. Statewide plantings totaled about 15 acres from the Appalachian foothills in eastern Kentucky to the broad stretches of farmland in the far west, said Adam Watson, the Kentucky Agriculture Department's hemp program coordinator. The crop's reintroduction was delayed in the spring when imported hemp seeds were detained by U.S. customs officials. The state's Agriculture Department sued the federal government, but dropped the case Friday after reaching an agreement on importing the seeds into Kentucky. The seeds were released after federal drug officials approved a permit. Since then, test plots have shown the crop to be hardy and fast growing — and a potential moneymaker with a remarkable range of traditional uses including clothing, mulch, hemp milk, cooking oil, soap and lotions. "What we've learned is it will grow well in Kentucky," Comer said. "It yields a lot per acre. All the things that we predicted." Hemp's roots in Kentucky date back to pioneer days and the towering stalks were once a staple at many farms. "We've got an excellent climate for it, excellent soils for it," Watson said. "It's a good fit for Kentucky producers."
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Pope Francis urged Asia's Catholic youth to renounce the materialism that afflicts much of their society today and reject "inhuman" economic systems that disenfranchise the poor. Francis, who received a boisterous welcome from tens of thousands of young people as he celebrated his first public Mass in South Korea, pressed his economic agenda in one of Asia's powerhouses where financial gain is a key barometer of success. In his homily, Francis urged the young people to be a force of renewal and hope for society. "May they combat the allure of a materialism that stifles authentic spiritual and cultural values and the spirit of unbridled competition which generates selfishness and strife," he said. "May they also reject inhuman economic models which create new forms of poverty and marginalise workers." Many link success with ostentatious displays of status and wealth. Competition among the young, especially for places at elite schools, starts as early as pre-nursery and is fierce. The country has one of the highest suicide rates in the world. Francis said that in such "outwardly affluent" societies, people often experience "inner sadness and emptiness. Upon how many of our young people has this despair taken its toll?". South Korean Catholics represent only about 10% of the country's 50 million people, but their numbers are growing. Once a country that welcomed missionaries, South Korea now sends homegrown priests and nuns abroad to help spread the faith.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
[Dean] Kamen is the closest thing to a modern-day Thomas Edison. He holds hundreds of patents, and his creations have improved countless lives. His current projects include a robotic prosthetic arm for DARPA and a Stirling engine that generates affordable electricity by using “anything that burns” for fuel. The Slingshot, more than 10 years in the making, could have a bigger impact than all of his other inventions combined. Using a process called vapor compression distillation, a single Slingshot can purify more than 250,000 liters of water per year, enough to satisfy the needs of about 300 people. And it can do so with any water source—sewage, seawater, chemical waste—no matter how dirty. For communities that lack clean water, the benefit is obvious, but to realize that potential, the Slingshot needs to reach them first. Which is where Coke comes in: The company is not just a soft-drink peddler; it is arguably the largest, most sophisticated distribution system in the world. That’s important because the scale of the water crisis the world faces is unprecedented. Water seems so abundant it’s easy to forget how many people don’t have a clean source of it. According to the World Health Organization, nearly a billion people lack ready access to safe drinking water, and hundreds of thousands die every year as a result.. Kamen, being Kamen, sees the current goals of the Coke partnership as the first step toward a much larger one. “Fifty percent of all the people in the developing world suffer from waterborne pathogens,” he says. “We’d empty half the beds in all the hospitals in the world if we just gave people clean water.”
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Dr Robin Carhart-Harris, a research associate in the Centre for Neuropsychopharma-cology at Imperial College, is ... the first person in the UK to have legally administered doses of lysergic acid diethylamide (LSD) to human volunteers since the Misuse of Drugs Act of 1971. Born in Durham 33 years ago and raised in Bournemouth, he ... is a careful and articulate speaker, but his enthusiasm for his work is evident. "We're at an early, but certainly promising, stage. It's really exciting," he says. The potential scientific benefits of psychedelics ... fall broadly into two categories. They look like being medicinally or therapeutically useful, and they offer an unconventional view of the workings of the human mind, such that the age-old, so-called "hard problem of consciousness" might be made a little easier. Uniquely potent in minute doses, and with what Carhart-Harris calls "a very favourable physiological safety profile" – which is to say, it is non-toxic – this newly synthesised psychedelic drug opened new doors, in more ways than one. "You could say the birth of the science of psychedelics occurred with the discovery of LSD," says Carhart-Harris. "It was only then that we started to study them systematically." Cary Grant famously used it during his therapy, as did the Alcoholics Anonymous co-founder Bill Wilson. Between the 1950s and 1965, when Sandoz withdrew the drug, there were more than 1,000 clinical papers discussing 40,000 patients. A 2012 meta-analysis of six controlled trials from the era found its clinical efficiency for the treatment of alcohol addiction to be as effective as any treatment developed since.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The Federal Aviation Agency has declared a no-fly zone over Ferguson, Missouri as tensions between police and protesters continued after last weekend’s police shooting of Michael Brown. The FAA issued a temporary flight restriction on Tuesday, prohibiting aircraft—including news helicopters—from entering the area. The agency listed the reason as “to provide a safe environment for law enforcement activities.” The extraordinary move comes days after the shooting of Michael Brown. The 18-year-old was shot multiple times and killed by police Aug. 9. Witnesses to the shooting said Brown had his hands up and was surrendering to police. Law enforcement officials, meanwhile, said the shooting occurred after a physical confrontation with Brown and a friend. The shooting and ensuing controversy has led to protests, looting and a strong police response in the St. Louis-area community.
Note: For more on this, see concise summaries of deeply revealing government secrecy news articles from reliable major media sources.
Sometime after 9/11 strange stories began to emerge about small town police agencies all over the nation receiving grants from the newly formed Department of Homeland Security to buy all kinds of high-tech equipment to fight “terrorism.” As Radley Balko thoroughly documented in his book Rise of the Warrior Cop the military industrial complex has created a new industry: the police industrial complex. Since 9/11 the United States has been spending vast sums of money through DHS to outfit the state and local authorities with surveillance and military gear ostensibly to fight the terrorist threat at home. What we have been seeing in Ferguson, Missouri, these past few days is largely a result of that program — and an entire industry has grown up around it. In less than a month a group of militarized police equipment vendors across the nation will be gathering for an annual confab called “Urban Shield” in Oakland, California. It features dozens of sponsors, from the Department of Homeland Security and police agencies all over the country to such vendors as Armored Mobility Inc. The Department of Homeland Security disburses somewhere in the vicinity of $3 billion a year for this sort of thing. Add in the loot that’s legally appropriated by police agencies in the war on drugs and you have a massive incentive to turn the streets of Ferguson, Missouri ... into a scene that looks more like the siege of Fallujah. We’ve been spending billions of taxpayer dollars for decades to turn the streets of urban America into a war zone at the merest hint of dissent. And now it’s here.
Note: For more on this, see concise summaries of deeply revealing military corruption news articles from reliable major media sources.
This week's U.S. air strikes in northern Iraq are being accompanied with an undertow of "it's all about oil" talk. Take for example, Columbia School of Journalism Dean Steve Coll's observation in The New Yorker, that "Obama's defense of Erbil (capital of the semiautonomous Kurdish region) is effectively the defense of an undeclared Kurdish oil state." It's no secret that Iraqi Kurdistan has an abundance of oil reserves, nor that U.S. oil companies, like [Chevron] are busy exploring there. Chevron has three "production sharing contracts" with the Kurdish government, covering a combined 444,000 acres, north of Irbil, where it's in the early testing and drilling stage. And it likes what it sees. Asked for an update, a Chevron spokesman said Monday, "We continue monitoring the situation. We remain in regular contact with the Kurdistan Regional Government and are dedicated to supporting the (Kurdistan Region of Iraq) in developing its natural resources." A potentially bigger worry for both Chevron and the Kurds .. could be if Iraq did stabilize and unite, with Kurdistan under its umbrella. For Chevron ... a new arrangement in Iraq could entail the renegotiation of contracts it has with the Kurds, which by the way, Baghdad refused to recognize. Kurdistan's oil pipeline via Turkey continues to pump out oil - 120,000 barrels per day.
Note: For more on this, see concise summaries of deeply revealing military corruption news articles from reliable major media sources.
Energy companies are fracking for oil and gas at far shallower depths than widely believed, sometimes through underground sources of drinking water, according to research released [on August 12] by Stanford University scientists. Fracking involves high-pressure injection of millions of gallons of water mixed with sand and chemicals to crack geological formations and tap previously unreachable oil and gas reserves. Fracking fluids contain a host of chemicals, including known carcinogens and neurotoxins. Fears about possible water contamination and air pollution have fed resistance in communities around the country. Fracking into underground drinking water sources is not prohibited by the 2005 Energy Policy Act, which exempted the practice from key provisions of the Safe Drinking Water Act. But the industry has long held that it does not hydraulically fracture into underground sources of drinking water because oil and gas deposits sit far deeper than aquifers. The study, however, found that energy companies used acid stimulation ... and hydraulic fracturing in the Wind River and Fort Union geological formations that make up the Pavillion gas field and that contain both natural gas and sources of drinking water. “Thousands of gallons of diesel fuel and millions of gallons of fluids containing numerous inorganic and organic additives were injected directly into these two formations during hundreds of stimulation events,” concluded Dominic DiGiulio and Robert Jackson of Stanford’s School of Earth Sciences.
Note: For more on this, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.
In January, a unit of Alcoa Inc., the biggest U.S. aluminum producer, pleaded guilty to foreign bribery charges brought by the U.S. Justice Department. Alcoa also settled claims by the Securities and Exchange Commission and agreed to pay a $384 million fine -- the fifth-largest such penalty ever. The Alcoa subsidiary admitted to paying bribes to government officials in Bahrain for more than a decade to win contracts to sell alumina, a compound essential in making aluminum, to the Persian Gulf state’s processing plant. Not named and not charged in the case was the person who made those payments, whom the Justice Department identified in court only as “Consultant A.” In the thriving business of global bribery -- which the World Bank says amounts to $1 trillion in illicit payments annually -- guilty pleas like the one by Alcoa’s unit are rare. Rarer still are convictions against the people who actually arrange and deliver the payments. Most of the time, these brokers aren’t even named. The Alcoa guilty plea -- together with related cases in the U.K. and Norway -- provides an unusual window into the modus operandi of the middlemen who shuttle between companies and governments striking deals. Before the U.S. announced the fine against Alcoa, U.K. prosecutors in October 2011 charged Victor Dahdaleh, a London-based businessman, with laundering money and making improper payments to officials in Bahrain related to Alcoa contracts. Dahdaleh was acquitted in December after the prosecution dropped its case. While the U.S. plea agreement doesn’t identify Dahdaleh as Consultant A, it does show that a company owned by Dahdaleh played a role in the Alcoa unit payments to Alba.
Note: For more on this, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.
Development of a U.S. counterattack for cyberterrorism that could do more harm than good was one of the final events that drove Edward Snowden to leak government secrets, the former National Security Agency contractor tells Wired magazine. Snowden ... said the MonsterMind program was designed to detect a foreign cyberattack and keep it from entering the country. But it also would automatically fire back. The problem, he said, is malware can be routed through an innocent third-party country. "These attacks can be spoofed," he told Wired. MonsterMind for example ... could accidentally start a war. And it's the ultimate threat to privacy because it requires the NSA to gain access to virtually all private communications coming in from overseas. "The argument is that the only way we can identify these malicious traffic flows and respond to them is if we're analyzing all traffic flows," he said. "And if we're analyzing all traffic flows, that means we have to be intercepting all traffic flows. That means violating the Fourth Amendment, seizing private communications without a warrant, without probable cause or even a suspicion of wrongdoing. For everyone, all the time. You get exposed to a little bit of evil, a little bit of rule-breaking, a little bit of dishonesty, a little bit of deceptiveness, a little bit of disservice to the public interest, and you can brush it off, you can come to justify it," Snowden told Wired. "But if you do that, it creates a slippery slope that just increases over time. And by the time you've been in 15 years, 20 years, 25 years, you've seen it all and it doesn't shock you. And so you see it as normal."
Note: Read the cover story from Wired magazine with a deep inside report on Snowden.
To many Americans, online eavesdropping by the U.S. National Security Agency is an outrage, a threat to privacy and freedom. To some, it's a business opportunity. A small but growing number of companies have introduced Internet and communications services designed to shield users from the government's eyes. A few even advertise their products as "NSA-proof." Many of the companies have been offering encrypted online services for years, scrambling their customers' data and communications in ways that require the right computer-generated "key" to decode. They are at least as concerned with thwarting private hackers and corporate spies as they are with blocking federal agents. But some entrepreneurs in the field found motivation in the NSA, after learning that the agency has been collecting troves of Internet and phone data on ordinary citizens for years. "Privacy and democracy go hand in hand - that's why this is so important," said Jason Stockman, one of the creators of ProtonMail, which began offering an encrypted e-mail service in May. "Our goal is to protect people against mass surveillance." But most companies will quickly admit that if the NSA - or some foreign intelligence service - really wants your data, they can't guarantee protection. Since the NSA conducts its business in secret, its full capabilities remain a matter of speculation. Most companies that invoke the NSA in their marketing focus on encryption.
Note: For more on this, see concise summaries of deeply revealing government surveillance news articles from reliable major media sources.
The United States is facing increasingly harsh criticism over its use of lethal drone strikes to target suspected terrorists. American drone strikes in Pakistan and Yemen may amount to war crimes, according to a pair of reports released by international human rights groups. Examining nine drone strikes in Pakistan, the Amnesty International report concludes that the attacks killed large numbers of innocent civilians, and accuses the U.S. of targeting rescuers who arrive in the aftermath of the strikes to aid the wounded. A report from Human Rights Watch states that the majority of people killed by six drone strikes in Yemen were civilians (57 out of the 82 killed). The groups’ findings that the United States has killed more civilians than it has admitted are bolstered by a UN report ... that stated U.S. drone strikes had killed as many as 400 civilians in Pakistan and almost 60 in Yemen. These reports clash with the U.S. government’s own assessment of the strikes. Officials have maintained that civilian casualties from drone strikes are minimal, even in the face of multiple third-party evaluations that state otherwise. Both groups are demanding that the Obama administration investigate allegations of civilian deaths, release more information about the legal basis for drone strikes on suspected terrorists, provide restitution to those unjustly harmed and reveal the identities of those who lost their lives in the attacks.
Note: If a single civilian in the US were killed by a foreign drone, the entire nation would be up in arms. Do we have a double standard here? For more on this, see concise summaries of deeply revealing war atrocities news articles from reliable major media sources.
Wall Street is one of the biggest sources of funding for presidential campaigns, and many of the Republican Party's potential 2016 contenders are governors. And so, last week, the GOP filed a federal lawsuit aimed at overturning the ... law that bars those governors from raising campaign money from Wall Street executives who manage their states' pension funds. In this case, New York's and Tennessee's Republican parties are represented by two former Bush administration officials, one of whose firms just won the Supreme Court case invalidating campaign contribution limits on large donors. In their complaint, the parties argue that people managing state pension money have a First Amendment right to make large donations to state officials who award those lucrative money management contracts. With the $3 trillion public pension system controlled by elected officials now generating billions of dollars worth of management fees for Wall Street, Securities and Exchange Commission regulators originally passed the rule to make sure retirees' money wasn't being handed out based on politicians' desire to pay back their campaign donors. The suit comes only a few weeks after the SEC issued its first fines under the rule - against a firm whose executives made campaign donations to Pennsylvania Gov. Tom Corbett, a Republican, and Philadelphia Mayor Michael Nutter, a Democrat. In a statement on that case, the SEC promised more enforcement of the pay-to-play rule in the future. The GOP lawsuit aims to stop that promise from becoming a reality.
Note: For more on this, see concise summaries of deeply revealing government corruption 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.