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Revealing News For a Better World

News Stories
Excerpts of Key News Stories in Major Media


Below are highly revealing excerpts of key news stories from the major media that suggest major cover-ups and corruption. Links are provided to the full stories on their media websites. If any link fails to function, read this webpage. These news stories are listed by date posted. You can explore the same list by order of importance or by date of news story. By choosing to educate ourselves and to spread the word, we can and will build a brighter future.

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.


Israeli Luminaries Press for a Palestinian State
2011-04-20, New York Times
Posted: 2011-04-26 11:01:04
http://www.nytimes.com/2011/04/20/world/middleeast/20mideast.html

Dozens of Israel’s most honored intellectuals and artists have signed a declaration endorsing a Palestinian state on the basis of the 1967 borders and asserting that an end to Israel’s occupation “will liberate the two peoples and open the way to a lasting peace.” The signers plan to announce their position on [April 21] from the same spot in Tel Aviv where the Jewish state declared its independence in the spring of 1948. The page-long declaration is expected to be read there by Hanna Maron, one of the country’s best-known actresses and a winner of the Israel Prize, the country’s most prestigious award. “The land of Israel is the birthplace of the Jewish people where its identity was shaped,” the statement begins. “The land of Palestine is the birthplace of the Palestinian people where its identity was formed.” It goes on to say that now is the time to live up to the commitment expressed by Israel’s founders in their Declaration of Independence to “extend our hand to all neighboring states and their peoples in an offer of peace and good neighborliness.” Two weeks ago, another group of several dozen prominent Israelis, many of them from the fields of security and business, issued what they called the Israeli Peace Initiative, a more detailed but somewhat similar plan for a two-state solution. Both groups say they are upset by their government’s policies in this regard, which they consider insufficient.


Betting on green
2011-03-10, The Economist magazine
Posted: 2011-04-26 10:54:05
http://www.economist.com/node/18304172

“Environmentalists are fiddling while Rome burns,” says Vinod Khosla, founder of Khosla Ventures, a Silicon Valley venture-capital firm. “They get in the way with silly stuff like asking people to walk more, drive less. That is an increment of 1-2% change.” Forget today’s green technologies like electric cars, wind turbines, solar cells and smart grids, in other words. None meets what Mr Khosla calls the “Chindia price”—the price at which people in China and India will buy them without a subsidy. “Everything’s a toy until it reaches that point,” he says. Mr Khosla has a different plan to save the planet. He is investing over $1 billion of his clients’ money in “black swans” -— ideas with the potential for sudden jumps in technology that promise huge environmental benefits, easy scalability and rapid payback. The catch? Mr Khosla expects nine out of ten of his investments to fail. “I am only interested in technologies that have a 90% chance of failure but, if they do succeed, would change the infrastructure of society in some radical way,” he says. Khosla Ventures’ portfolio reads like an eco-utopian wish-list: diesel from microbes; carbon-negative cement; quantum batteries; and a system for extracting methane from coal while it is still underground.

Note: Why aren't people in governments around the world thinking in this way? The time is now to shift our priorities in investment.


Report cites warnings before 9/11
2002-09-19, CNN
Posted: 2011-04-26 10:37:41
http://archives.cnn.com/2002/ALLPOLITICS/09/18/intelligence.hearings/

U.S. intelligence officials had several warnings that terrorists might attack the United States on its home soil -- even using airplanes as weapons -- well before the September 11, 2001 attacks, two congressional committees said in a report. In 1998, U.S. intelligence had information that a group of unidentified Arabs planned to fly an explosives-laden airplane into the World Trade Center, according to a joint inquiry of the House and Senate intelligence committees. However, the Federal Aviation Administration found the plot "highly unlikely given the state of that foreign country's aviation program," and believed a flight originating outside the United States would be detected before it reached its target inside the country, the report said. "The FBI's New York office took no action on the information," it said. Another alert came just a month before the attacks, the report said, when the CIA sent a message to the FAA warning of a possible hijacking "or an act of sabotage against a commercial airliner." The information was linked to a group of Pakistanis based in South America. That warning did not mention using an airliner as a weapon and, the report said, "there was apparently little, if any, effort by intelligence community analysts to produce any strategic assessments of terrorists using aircraft as weapons."

Note: For many unanswered questions about the official account of 9/11 asked by highly-respected professors and officials, click here and here.


Human Guinea Pigs: At Your Own Risk
2002-04-22, Time Magazine
Posted: 2011-04-26 10:33:57
https://web.archive.org/web/20120131193221/http://www.time.com/time/magazine/...

Over the past three years, more than 60 institutions, including several of the world's most prestigious research centers, have been criticized by the U.S. government for failing to protect human subjects adequately. As recently as 1974 individual scientists and their financial backers could decide for themselves what constituted ethical research. Most of the time their judgment was sound, but there were plenty of appalling exceptions. In the 1950s Army doctors gave LSD to soldiers without telling them what it was. In 1963 researchers injected prisoners and terminally ill patients with live cancer cells to test their immune responses; they were told only that it was a "skin test." In the 1950s mentally retarded children at Willowbrook, a state institution in New York, were deliberately infected with hepatitis so that scientists could work on an experimental vaccine. And in perhaps the most infamous case on record, doctors at Georgia's Tuskegee Institute, starting in the 1930s, deliberately withheld treatment from syphilis-infected African-American men for 40 years to monitor the course of the disease. Financial conflicts of interest can extend not only to the institutions but also to the researchers themselves. Jesse Gelsinger's death in the University of Pennsylvania's gene-therapy trial in 1999 seemed especially scandalous [because] James Wilson, the principal investigator in the study, held a 30% equity stake in Genovo, which owned the rights to license the drug Wilson was studying; the university owned 3.2% of the company. When Targeted Genetics Corp. acquired Genovo, Wilson reportedly earned $13.5 million and Penn $1.4 million.

Note: For a powerful, reliable list of astounding incidents in which government and medical professionals used humans as guinea pigs over the past hundred years and continuing to the present, click here. Links are provided to reliable sources for verification. For key facts on government mind control programs, click here.


CIA agent alleged to have met Bin Laden in July
2001-11-01, The Guardian (One of the UK's leading newspapers)
Posted: 2011-04-26 10:28:32
http://www.guardian.co.uk/world/2001/nov/01/afghanistan.terrorism

Two months before September 11 Osama bin Laden flew to Dubai for 10 days for treatment at the American hospital, where he was visited by the local CIA agent, according to the French newspaper Le Figaro. Bin Laden is reported to have arrived in Dubai on July 4 from Quetta in Pakistan with his own personal doctor, nurse and four bodyguards, to be treated in the urology department. While there he was visited by several members of his family and Saudi personalities, and the CIA. The CIA chief was seen in the lift, on his way to see Bin Laden, and later, it is alleged, boasted to friends about his contact. Intelligence sources say that another CIA agent was also present; and that Bin Laden was also visited by Prince Turki al Faisal, then head of Saudi intelligence, who had long had links with the Taliban, and Bin Laden. The American hospital in Dubai emphatically denied that Bin Laden was a patient there. Washington last night also denied the story. Bin Laden has often been reported to be in poor health. Some accounts claim that he is suffering from Hepatitis C, and can expect to live for only two more years. According to Le Figaro, last year he ordered a mobile dialysis machine to be delivered to his base at Kandahar in Afghanistan.

Note: For many unanswered questions about the official account of 9/11 asked by highly-respected professors and officials, click here and here.


Now you see it, now you don't
1978-10-01, U.S. National Security Agency Website
Posted: 2011-04-26 10:26:14
http://www.nsa.gov/public_info/_files/ufo/now_you_see.pdf

It had been an entirely routine night watch for the Imperial Iranian Air Force's command post in the Tehran area [when] in quick succession, four calls arrived ... reporting a series of strange airborne objects. A senior officer ... immediately scrambled an IIAF F-4 to investigate. The F-4 pilot reported that the brilliant object was easily visible 70 miles away. When approximately 25 NM [nautical miles] distant, the interceptor lost all instrumentation and UHF/Intercom communications. Upon breaking off the intercept and turning towards his home base, all systems returned to normal, as if the strange object no longer regarded the aircraft as a threat. A second F-4 was scrambled ten minutes after the first. Upon reaching the 25 NM point, the object began rapidly moving away to maintain a constant separation distance. Visually, it resembled flashing strobe lights arranged in a rectangular pattern and alternating blue, green, red, and orange. Their sequence was so fast that all colors could be seen at once. As the F-4 continued pursuit south of Tehran, a second brightly-lit object (about one-half to one-third the size of the moon) detached from the original UFO and headed straight for the F-4 at a high rate of speed. The pilot attempted to fire an AIM-9 missile at the new object but was prevented by a sudden power loss in his weapons control panel. UHF and internal communications were simultaneously lost. The pilot promptly initiated a turn and negative G dive to escape. Continuing the turn, the pilot observed the second object turn inside of him and then away, subsequently returning to the primary UFO for a perfect rendezvous.

Note: This official report by U.S. Air Force Captain Henry Shields, taken from the NSA website at the link above, raises many questions. A copy of this document is available at this link. A 1976 report to the US Joint Chiefs of Staff on this remarkable incident is also available here. For astounding statements by other top government and military officials acknowledging a major cover-up of UFOs, click here.


Senate panel concludes Goldman Sachs profited from financial crisis
2011-04-14, Los Angeles Times
Posted: 2011-04-19 10:49:47
http://www.latimes.com/business/la-fi-crisis-probe-20110414,0,6709903.story

A Senate panel has concluded that Goldman Sachs Group Inc. profited from the financial crisis by betting billions against the subprime mortgage market, then deceived investors and Congress about the firm's conduct. Some of the findings in the report by the Senate's Permanent Subcommittee on Investigations will be referred to the Justice Department and the Securities and Exchange Commission for possible criminal or civil action, said Sen. Carl Levin (D-Mich.), the panel's chairman. The giant investment bank was just one focus of the subcommittee's probe into Wall Street's role in the financial crisis. The 639-page report — based on internal memos, emails and interviews with employees of financial firms and regulators — casts broad blame, saying the crisis was caused by "conflicts of interest, heedless risk-taking and failures of federal oversight." Among the culprits cited by the panel are Washington Mutual, a major mortgage lender that failed in 2008, as well as the Office of Thrift Supervision, a federal bank regulator, and credit rating firms. Asked if he was disappointed that no Wall Street figures had gone to jail in connection with the crisis, Levin responded, "There's still time."

Note: For many key reports from major media sources illuminating how major financial corporations knowingly brought about the global financial crisis and profited from it, click here.


Report: Market share drove faulty credit ratings decisions
2011-04-13, Kansas City Star/McClatchy News
Posted: 2011-04-19 10:48:01
http://www.kansascity.com/2011/04/13/2798570/report-market-share-drove-faulty...

Analysts who reviewed complex mortgage bonds that ultimately collapsed and ruined the U.S. housing market were threatened with firing if they lost lucrative business, prompting faulty ratings on trillions of dollars worth of junk mortgage bonds, a Senate report said [on April 13]. The 639-page report by the Senate Permanent Subcommittee on Investigations confirms much of what McClatchy Newspapers first reported about mismanagement by credit ratings agencies in 2009. Credit rating agencies are supposed to provide independent assessments on the quality of debt being issued by companies or governments. Traditionally, investments rated AAA had a probability of failure of less than 1 percent. But in collusion with Wall Street investment banks, the Senate report concludes, the top two ratings agencies - Moody's Investors Service and Standard & Poor's - effectively cashed in on the housing boom by ignoring mounting evidence of problems in the housing market. Profits at both companies soared, with revenues at market leader Moody's more than tripling in five years. Then the bottom fell out of the housing market, and Moody's stock lost 70 percent of its value; it has yet to fully recover. More than 90 percent of AAA ratings given in 2006 and 2007 to pools of mortgage-backed securities were downgraded to junk status.

Note: For many key reports from major media sources illuminating how major financial corporations knowingly brought about the global financial crisis and profited from it, click here.


FBI Vault Reveals UFO, Roswell Files
2011-04-11, ABC News
Posted: 2011-04-19 10:46:11
http://abcnews.go.com/Technology/fbi-vault-reveals-ufo-roswell-files/story?id...

Flying saucer sightings? Reports of three-foot-tall aliens? Secret memos about suspicious objects recovered near Roswell, N.M.? They're all included in the thousands of declassified government documents posted to the FBI's new online "Vault." Among the so-called "X-files" are once-classified reports dating back to the 1940s and 1950s detailing Air Force investigations into "flying discs" and the "bodies of human shape" discovered inside them. In one report from March 1950, Guy Hottel, a special agent with the FBI, said he received information from an Air Force investigator about flying saucers found in New Mexico. "They were described as being circular in shape with raised centers, approximately 50-feet in diameter," he wrote. "Each one was occupied by three bodies of human shape but only 3 feet tall, dressed in a metallic cloth of a very fine texture. Each body was bandaged in a manner very similar to the blackout suits used by speed flyers and test pilots." The informant, whose name is redacted in the file, said he thought the saucer was spotted in New Mexico because a high-powered government radar in the area interfered with the saucer's controlling mechanism. Other reports once marked "restricted" and "confidential" detail sightings of mysterious flashing lights and other "unidentified aerial objects."

Note: You can view the declassified memorandum described above on the FBI website at this link. Or download this amazing document and view it on our website at this link. For lots more reliable information suggesting a major cover-up of the reality of ET visitation, click here.


Radiation Detected In Drinking Water In 13 More US Cities, Cesium-137 In Vermont Milk
2011-04-09, Forbes blog
Posted: 2011-04-19 10:44:16
http://blogs.forbes.com/jeffmcmahon/2011/04/09/radiation-detected-in-drinking...

Radiation from Japan has been detected in drinking water in 13 more American cities, and cesium-137 has been found in American milk -— in Montpelier, Vermont -— for the first time since the Japan nuclear disaster began, according to data released by the Environmental Protection Agency [on April 8]. Milk samples from Phoenix and Los Angeles contained iodine-131 at levels roughly equal to the maximum contaminant level permitted by EPA, the data shows. The cesium-137 found in milk in Vermont is the first cesium detected in milk since the Fukushima-Daichi nuclear accident occurred last month. The sample contained 1.9 picoCuries per liter of cesium-137, which falls under the [EPA's] 3.0 standard. Airborne contamination continues to cross the western states, the new data shows, and Boise has seen the highest concentrations of radioactive isotopes in rain so far. A rainwater sample collected in Boise on March 27 contained 390 picocures per liter of iodine-131, plus 41 of cesium-134 and 36 of cesium-137. EPA released this result for the first time yesterday. Typically several days pass between sample collection and data release because of the time required to collect, transport and analyze the samples. In most of the data released Friday the levels of contaminants detected are far below the standards observed by EPA and other U.S. agencies.

Note: For lots more on corporate and government corruption, click here and here.


Japanese officials defend delay in revealing severity of radiation
2011-04-12, Seattle Times/New York Times
Posted: 2011-04-19 10:42:41
http://seattletimes.nwsource.com/html/nationworld/2014756803_quake13.html

Japanese officials have been forced to explain why it took them a month to disclose large-scale releases of radioactive material in mid-March at a crippled nuclear-power plant. The government announced [on April 12] that it had raised its rating of the severity of the accident at the Fukushima Daiichi nuclear complex to 7, the worst on an international scale, from 5. Japan's new assessment was based largely on computer models showing heavy emissions of radioactive iodine and cesium March 14-16, soon after a magnitude-9.0 earthquake and tsunami rendered the plant's emergency cooling system inoperative. The nearly monthlong delay in acknowledging the extent of these emissions is a fresh example of confused data and analysis from the Japanese and put authorities on the defensive about whether they have delayed or blocked the release of information to avoid alarming the public. Seiji Shiroya, a commissioner of Japan's Nuclear Safety Commission, an independent panel that oversees the country's nuclear industry, ... suggested a public-policy reason for having kept quiet. "Some foreigners fled the country even when there appeared to be little risk," he said. "If we immediately decided to label the situation as Level 7, we could have triggered a panicked reaction." The peak release in emissions of radioactive particles took place after hydrogen explosions at three Fukujima reactors.

Note: For lots more on corporate and government corruption, click here and here.


Fukushima and the 'nuclear renaissance' that wasn't
2011-04-15, CNN
Posted: 2011-04-19 10:40:31
http://globalpublicsquare.blogs.cnn.com/2011/04/15/fukushima-and-the-nuclear-...

A month after a devastating earthquake sent a wall of water across the Japanese landscape, the global terrain of the atomic power industry has been forever altered. The ongoing drama at the power plant in Fukushima ... has erased the momentum the nuclear industry has seen in recent years. Before Fukushima, a "nuclear renaissance" - as it was termed in the press - seemed well underway, except for this point: Nuclear power, as a total of world energy supply, has been in steady decline for the past decade. From 2000 to 2008, nuclear energy dropped from 16.7% to 13.5% of global energy production, according to the World Nuclear Industry Status Report 2009. The 2010-11 preliminary report, expected to be released [on April 20], will show the downward trend has continued. Costs of nuclear power plants can be as high as $10 billion. The average construction time is seven years, but with licensing approval new builds often take a decade. Nuclear power reactors are dependent on government subsidies and loan guarantees to be built, cover costs in case of accidents and assume long-term responsibility for storage of spent radioactive fuel, critics say, which artificially lowers the cost of production. Market reaction has been swift against the nuclear industry after the Fukushima disaster. Companies on the Standard & Poor's Clean Energy Index rose on average 17% in the wake of the disaster, while companies on the S&P Nuclear Index fell 8.7%.

Note: For lots more on corporate and government corruption, click here and here.


Pakistan Tells U.S. It Must Sharply Cut C.I.A. Activities
2011-04-12, Pittsburgh Post-Gazette/New York Times
Posted: 2011-04-19 10:38:48
http://www.post-gazette.com/pg/11102/1138765-82.stm?cmpid=news.xml

Pakistan has demanded that the United States steeply reduce the number of Central Intelligence Agency operatives and Special Operations forces working in Pakistan, and that it halt C.I.A. drone strikes aimed at militants in northwest Pakistan. The request was a sign of the near collapse of cooperation between the two testy allies. Pakistani and American officials said in interviews that the demand that the United States scale back its presence was the immediate fallout from the arrest in Pakistan of Raymond A. Davis, a C.I.A. security officer who killed two men in January. In all, about 335 American personnel -- C.I.A. officers and contractors and Special Operations forces -- were being asked to leave the country, said a Pakistani official closely involved in the decision. It was not clear how many C.I.A. personnel that would leave behind; the total number in Pakistan has not been disclosed. But the cuts demanded by the Pakistanis amounted to 25 to 40 percent of United States Special Operations forces in the country, the officials said. The number also included the removal of all the American contractors used by the C.I.A. in Pakistan. In addition to the withdrawal of all C.I.A. contractors, Pakistan is demanding the removal of C.I.A. operatives involved in "unilateral" assignments like Mr. Davis's that the Pakistani intelligence agency did not know about, the Pakistani official said.

Note: For further reports from major media sources on the long history of relations between the CIA and the Pakistani secret service, and their joint creation of and support for the Taliban, click here.


Bradley Manning: top US legal scholars voice outrage at 'torture'
2011-04-10, The Guardian (One of the UK's leading newspapers)
Posted: 2011-04-19 10:36:40
http://www.guardian.co.uk/world/2011/apr/10/bradley-manning-legal-scholars-le...

More than 250 of America's most eminent legal scholars have signed a letter protesting against the treatment in military prison of the alleged WikiLeaks source Bradley Manning, contesting that his "degrading and inhumane conditions" are illegal, unconstitutional and could even amount to torture. The list of signatories includes Laurence Tribe, a Harvard professor who is considered to be America's foremost liberal authority on constitutional law. He told the Guardian he signed the letter because Manning appeared to have been treated in a way that "is not only shameful but unconstitutional" as he awaits court martial in Quantico marine base in Virginia. Under the terms of his detention, he is kept in solitary confinement for 23 hours a day, checked every five minutes under a so-called "prevention of injury order" and stripped naked at night apart from a smock. Tribe said the treatment was objectionable "in the way it violates his person and his liberty without due process of law and in the way it administers cruel and unusual punishment of a sort that cannot be constitutionally inflicted even upon someone convicted of terrible offences, not to mention someone merely accused of such offences". The harsh restrictions have been denounced by a raft of human rights groups, including Amnesty International, and are being investigated by the United Nations' rapporteur on torture.

Note: For a compendium of revealing stories from reliable sources on the illegal wars of aggression launched by the US and UK under the pretext of 9/11, click here.


US Army to charge Bradley Manning with 'aiding the enemy'
2011-03-02, The Guardian (One of the UK's leading newspapers)
Posted: 2011-04-19 10:35:11
http://www.guardian.co.uk/world/2011/mar/02/bradley-manning-charges-aiding-enemy

The US Army has announced it is to charge Private Bradley Manning with "aiding the enemy" – which can carry the death penalty – and 21 further offences of illegally disclosing classified information, after an investigation lasting seven months. The 22 new charges are in addition to the 12 counts of leaking classified information and computer fraud that Manning already faces over material said to be related to the WikiLeaks disclosures – and for which he has been held in military custody since May last year. The army's charge sheet states that Manning did "knowingly give intelligence to the enemy, through indirect means," in violation of article 104 of the Uniform Code of Military Justice, known as "aiding the enemy". The other new charges include wrongfully causing intelligence to be published on the internet knowing it will be accessed by the enemy, five counts of thefts of public property or records, eight counts of transmitting national defense information to someone not entitled to receive it – violating the Espionage Act, two counts of computer fraud, and five counts of breaking US Army computer security rules. The Army's prosecution team said in a statement that if Manning were convicted of all charges, he would face life in prison.

Note: For a compendium of revealing stories from reliable sources on the illegal wars of aggression launched by the US and UK under the pretext of 9/11, click here.


Wisconsin high court race yields mixed results
2011-04-08, Boston Globe
Posted: 2011-04-19 10:32:46
http://articles.boston.com/2011-04-08/news/29397565_1_human-error-vote-count-...

A conservative incumbent surged to a commanding lead in Wisconsin’s hotly contested Supreme Court election [on April 7], after a predominantly GOP county’s clerk announced she had incorrectly entered vote totals in the race seen as a referendum on Republican Gov. Scott Walker’s divisive union rights law. Waukesha County Clerk Kathy Nickolaus said more than 14,000 votes weren’t reported to The Associated Press on [April 5, election day] due to “human error.’’ Nickolaus previously worked for a GOP caucus that was under the control of Justice David Prosser, who was speaker of the Assembly at the time and who now stands to benefit from the clerk’s error. Before the announcement, it was assumed 68-year-old conservative Prosser’s race against liberal assistant state attorney general JoAnne Kloppenburg was headed for a recount. But Waukesha County’s corrected totals gave Prosser a 7,500-vote lead, which is likely to stand. Opponents of the law that takes away nearly all public employee collective bargaining rights had hoped a Kloppenburg victory would set the stage for the high court to strike it down. Rep. Peter Barca, Democratic Assembly minority leader, said the mistake raises significant suspicion that could warrant an investigation. “It doesn’t instill confidence in her competence or integrity,’’ Barca said.

Note: This article states, "a clerk discovered 14,000 unrecorded votes." Why didn't this make huge headlines? Why didn't AP and other news agencies point out how easily corrupted the US election system is? How can votes just be "discovered"? For lots more on severe corruption in the elections system, click here.


Billionaires' guide to U.S. taxes shows Top 400 pay lower rates than you
2011-04-08, Miami Herald/Bloomberg News
Posted: 2011-04-19 10:30:37
http://www.miamiherald.com/2011/04/08/2156941/billionaires-guide-to-us-taxes....

For the well-off, this could be the best tax day since the early 1930s: Top tax rates on ordinary income, dividends, estates and gifts will remain at or near historically low levels for at least the next two years, thanks in part to federal legislation passed in December. The 400 U.S. taxpayers with the highest adjusted gross income paid income taxes at an actual, or “effective,” rate of just under 17 percent in 2007, down from almost 30 percent in 1995, according to the Internal Revenue Service. The effective rate for the 1.4 million people in the top 1 percent of taxpayers dropped to 23 percent the year before. That means the top 400 pay a lower rate than the next 1,399,600 or so. Much of the top 400´s income is from dividends and capital gains, generated by everything from appreciated real estate to stocks and the sale of family businesses. As Warren Buffett has said, since most of his income is from dividends, his tax rate is less than that of the people who clean his office.

Note: For lots more on government corruption from reliable sources, click here.


Mortgage paperwork mess: Next housing shock?
2011-04-01, CBS News 60 Minutes
Posted: 2011-04-19 10:28:40
http://www.cbsnews.com/stories/2011/04/01/60minutes/main20049646.shtml

It's bizarre but, it turns out, Wall Street cut corners when it created those mortgage-backed investments that triggered the financial collapse. Now that banks want to evict people, they're unwinding these exotic investments to find, that often, the legal documents behind the mortgages aren't there. Caught in a jam of their own making, some companies appear to be resorting to forgery and phony paperwork to throw people - down on their luck - out of their homes. This past January in Los Angeles, 37,000 homeowners facing foreclosure showed up to an event to beg their bank for lower payments on their mortgage. In February in Miami, 12,000 people showed up to a similar event. For many that's when the real surprise comes in: these same banks have fouled up all of their own paperwork to a historic degree. There were a million foreclosures last year. And there will be another million this year - those lawsuits are forcing open those bundled, mortgage-backed securities that Wall Street cooked up in the mid 2000s, and exposing a lack of ownership documents all across the country. Banks are defensive because all 50 state attorneys general want to punish them: the states are seeking about $20 billion in damages for what they say is the irresponsible, perhaps criminal way, that some mortgage companies handled what is, for most folks, the most important investment of their lives.

Note: To watch the amazing 14-minute video of this article, click here. Learn how banks paid a company which hired people off the streets to pretend they were bank vice presidents and sign thousands of documents fraudulently. For lots more from reliable sources on the criminal practices of mortgage lenders, click here.


Mortgage mess: Who really owns your mortgage?
2011-04-03, CBS News 60 Minutes Overtime
Posted: 2011-04-19 10:27:06
http://www.cbsnews.com/8301-504803_162-20049744-10391709.html

Do you know who really owns your mortgage? That question has become a nightmare for many homeowners since the invention of mortgage-backed securities. Yes, those were the exotic investments that sparked the financial collapse in this country. And they're still causing problems. As it turns out, Wall Street cut corners when it bundled homeowners' mortgages into securities that were traded from investor to investor. Now that banks are foreclosing on people, they're finding that the legal documents behind many mortgages are missing. So, what do the banks do? Some companies appear to be resorting to forgery and phony paperwork in what looks like a nationwide epidemic. Even if you're not at risk of foreclosure, there could be legal ramifications for a homeowner if the chain of title has been lost.

Note: Don't miss at the link above the most excellent, six-minute CBS video explaining more on this blatant deception and manipulation by many banks. You have to put up with a one-minute commercial shortly after the video starts. For lots more from reliable sources on the criminal practices of mortgage lenders, click here.


New engine sends shock waves through auto industry
2011-04-06, MSNBC
Posted: 2011-04-19 10:22:28
http://www.msnbc.msn.com/id/42460541/ns/technology_and_science-innovation

Hybrid vehicles are still tethered to the gas pump via a fuel-thirsty 100-year-old invention: the internal combustion engine. However, researchers at Michigan State University have built a prototype gasoline engine that requires no transmission, crankshaft, pistons, valves, fuel compression, cooling systems or fluids. Their so-called Wave Disk Generator could greatly improve the efficiency of gas-electric hybrid automobiles and potentially decrease auto emissions up to 90 percent when compared with conventional combustion engines. The engine has a rotor that's equipped with wave-like channels that trap and mix oxygen and fuel as the rotor spins. These central inlets are blocked off, building pressure within the chamber, causing a shock wave that ignites the compressed air and fuel to transmit energy. The Wave Disk Generator uses 60 percent of its fuel for propulsion; standard car engines use just 15 percent. As a result, the generator is 3.5 times more fuel efficient than typical combustion engines. Researchers estimate the new model could shave almost 1,000 pounds off a car's weight currently taken up by conventional engine systems. Last week, the prototype was presented to the energy division of the Advanced Research Projects Agency, which is backing the Michigan State University Engine Research Laboratory with $2.5 million in funding. Michigan State's team of engineers hope to have a car-sized 25-kilowatt version of the prototype ready by the end of the year.

Note: For many inspiring new developments on automotive technology, click here.


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