Corporate Corruption Media Articles
Excerpts of Key Corporate Corruption Media Articles from Major Media


Below are many highly revealing excerpts of important corporate corruption articles reported in the mainstream media suggesting a cover-up. Links are provided to the full articles on major media websites. If any link fails to function, read this webpage. These corporate corruption articles are listed by article date. You can also explore the articles listed by order of importance or by date posted. By choosing to educate ourselves on these important issues and to spread the word, we can and will build a brighter future.


Corporate Corruption Media Articles


Note: Explore our full index to revealing excerpts of key major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.

Curbing antibiotics on farms taking too long: Our view
2013-10-27, USA Today
http://www.usatoday.com/story/opinion/2013/10/27/antibiotics-farms-drug-resis...

Want to ensure that miracle drugs can no longer perform miracles? Then do what some physicians and industrial livestock farmers have done for years: Overprescribe antibiotics to people, and use them cavalierly in farm animals to promote growth or prevent infections before they even occur. Last month, federal officials quantified that danger: At least 23,000 people die from antibiotic-resistant bacteria each year, according to the Centers for Disease Control and Prevention (CDC), which said that's a conservative figure. For more than four decades, scientists and government health agencies have warned about the danger this poses for development of drug-resistant bugs. Yet last week, the Johns Hopkins Center for a Livable Future reported that little progress has been made on limiting the use of antibiotics on farms. The agriculture industry maintains that the connection is murky between antibiotic use in animals and drug resistance in people. On the other side of the debate is a long list of scientists, public health officials and veterinarians whose views carry more sense and less self-interest. In 2011 alone, 1.9 million pounds of penicillins and 12.3 million pounds of tetracyclines were sold for use in food animals. It's hard to believe that wouldn't have an effect. According to the CDC, humans can pick up drug-resistant bugs through contact with animals or by eating contaminated food. But neither Congress nor the FDA has acted to curtail the broad dangers. The well-financed agriculture industry has won most rounds. And regulators have dragged their feet.

Note: For more on important health issues, see the deeply revealing reports from reliable major media sources available here.




Finally, a Guilty Verdict for Wall Street
2013-10-24, US News & World Report
http://www.usnews.com/opinion/blogs/pat-garofalo/2013/10/24/bank-of-america-t...

"The Hustle." That's the name of a program run by Countrywide, the slimy subprime lender purchased by Bank of America in 2008. Under the program, Countrywide brokers were paid bonuses to originate loans, firing them off to borrowers with less than stellar credit in an attempt to gin up quick profits. The loans were then sold to government-backed mortgage giants Fannie Mae and Freddie Mac, where they often went sour. This sounds like a fairly typical tale from the financial crisis: Most of the nation's largest banks have, in one way or another, been accused of formulating sloppy loans and dumping them off on the taxpayer or of selling toxic mortgage securities to unwitting customers. But there's a new twist to the old story: Yesterday, a jury found Bank of America guilty of fraud, the first time that a major U.S. bank has been held responsible by a U.S. court for actions tied to the financial crisis. The jury also held a former Countrywide manager liable for fraud. That we're still wondering whether the banks will face any consequences for their actions more than five years after the financial crisis began in earnest is a pretty damning indictment of the Obama administration's approach to the matter. Can lawmakers summon the will to actually take on Wall Street or are a few good headlines from DOJ all we can hope for? The Dodd-Frank financial reform law was a good opening effort and, despite its imperfections, will make some difference in reining Wall Street. But there is still a lot that the law either left unaddressed or up to the interpretation of regulators who are bombarded by missives from Wall Street lobbyists.

Note: For more on the collusion of big banks and banking regulators, see the deeply revealing reports from reliable major media sources available here.




Calif. finds more instances of offshore fracking
2013-10-19, USA Today/Associated Press
http://www.usatoday.com/story/money/business/2013/10/19/calif-finds-more-inst...

The oil production technique known as fracking is more widespread and frequently used in the offshore platforms and man-made islands near some of California's most populous and famous coastal communities than state officials believed. In waters off Long Beach, Seal Beach and Huntington Beach — some of the region's most popular surfing strands and tourist attractions — oil companies have used fracking at least 203 times at six sites in the past two decades, according to interviews and drilling records obtained by The Associated Press through a public records request. Offshore hydraulic fracturing ... occurs with little state or federal oversight of the operations. The state oil permitting agency said it doesn't track fracking. Environmental groups are calling for a moratorium on the practice. "How is it that nobody in state government knew anything about this? It's a huge institutional failure," said Kassie Siegel, an attorney with the Center for Biological Diversity. "Offshore fracking is far more common than anyone realized." Little is known about the effects on the marine environment of fracking, which shoots water, sand and chemicals at high pressure to clear old wells or crack rock formations to free oil. Yet neither state nor federal environmental regulators have had any role in overseeing the practice as it increased to revitalize old wells. New oil leases off the state's shores have been prohibited since a 1969 oil platform blowout off Santa Barbara, which fouled miles of coastline and gave rise to the modern environmental movement. With no room for physical expansion, oil companies instead have turned to fracking to keep the oil flowing.

Note: For more on corporate corruption, see the deeply revealing reports from reliable major media sources available here.




Privacy Fears Grow as Cities Increase Surveillance
2013-10-14, New York Times
http://www.nytimes.com/2013/10/14/technology/privacy-fears-as-surveillance-gr...

Federal grants of $7 million, initially intended to help thwart terror attacks at the port in Oakland, Calif., are instead going to a police initiative that will collect and analyze reams of surveillance data. The new system ... is the latest example of how cities are compiling and processing large amounts of information, known as big data, for routine law enforcement. And the system underscores how technology has enabled the tracking of people in many aspects of life. Like the Oakland effort, other pushes to use new surveillance tools in law enforcement are supported with federal dollars. The New York Police Department, aided by federal financing, has a big data system that links 3,000 surveillance cameras with license plate readers, radiation sensors, criminal databases and terror suspect lists. Police in Massachusetts have used federal money to buy automated license plate scanners. And police in Texas have bought a drone with homeland security money. [Critics] of the Oakland initiative, formally known as the Domain Awareness Center, [say] the program, which will create a central repository of surveillance information, will also gather data about the everyday movements and habits of law-abiding residents. Oakland has a contract with the Science Applications International Corporation, or SAIC, to build its system. That company has earned the bulk of its $12 billion in annual revenue from military contracts.

Note: For more on government privacy invasions, see the deeply revealing reports from reliable major media sources available here.




Rigging currency markets
2013-10-12, The Economist
http://www.economist.com/news/finance-and-economics/21587824-are-foreign-exch...

[Banks] have rigged LIBOR, an interest rate used to peg contracts worth trillions. Its equivalent in the world of derivatives, ISDAfix, has also come under question. Commodities prices from crude oil to platinum have been the subject of allegations and inquiries. Now prices in global currency markets, where turnover is $5 trillion a day, are being scrutinised by authorities, who suspect bankers have tampered with those too. Switzerland’s financial watchdog announced on October 4th that it was investigating a slew of banks it thinks have manipulated currencies. Britain and the European Union also have probes under way. Concerns reportedly centre around abnormal movements ahead of a widely-used daily snapshot of exchange rates, known as the 4pm “London fix”. It represents the average of prices agreed during 60 seconds’ trading, and is used as a reference rate to execute a much larger set of currency deals. Bankers, who are big participants in the market, have huge incentives to nudge the price of a given currency pairing ahead of the fix. With billions of dollars changing hands, a difference of a fraction of a cent can add a tidy sum to the bonus pool. If proven, the charge would amount to banks fleecing their clients. Banks know the big trades they are about to execute on others’ behalf, and are often themselves the counterparty. By moving the markets ahead of the fix, they could alter the rate to their profit and their clients’ loss. One suspected method is “banging the close”: submitting a quick succession of orders just as the benchmark is set, to distort its value.

Note: For more on financial corruption, see the deeply revealing reports from reliable major media sources available here.




Tax the rich? IMF sparks a mini revolution
2013-10-11, Yahoo!/Agence France Presse
http://news.yahoo.com/tax-rich-imf-sparks-mini-revolution-020128173.html;_ylt...

Tax the rich and better target the multinationals: The IMF has set off shockwaves this week in Washington by suggesting countries fight budget deficits by raising taxes. Guardian of financial orthodoxy, the International Monetary Fund, which is holding its annual meetings with the World Bank this week in the US capital, typically calls for nations in difficulty to slash public spending to reduce their deficits. But in its Fiscal Monitor report, subtitled "Taxing Times", the Fund advanced the idea of taxing the highest-income people and their assets to reinforce the legitimacy of spending cuts and fight against growing income inequalities. "Scope seems to exist in many advanced economies to raise more revenue from the top of the income distribution," the IMF wrote, noting "steep cuts" in top rates since the early 1980s. According to IMF estimates, taxing the rich even at the same rates during the 1980s would reap fiscal revenues equal to 0.25 percent of economic output in the developed countries. "The gain could in some cases, such as that of the United States, be more significant," around 1.5 percent of gross domestic product, said the IMF report, which also singled out deficient taxation of multinational companies. In the US alone, legal loopholes deprive the Treasury of roughly $60 billion in receipts, the global lender said. The IMF managing director, Christine Lagarde, kept up the sales pitch for a more just fiscal policy. "It's clearly something finance ministers are interested in, it's something that is necessary for the right balance of public finances," said Lagarde, a former French finance minister.

Note: Yahoo! was the only major media in the US to pick up this eye-opening news, with the possible exception of a Forbes article which shows how afraid they are of this development. For more on financial corruption, see the deeply revealing reports from reliable major media sources available here.




Meet the Medical Company Making $1.4 Billion a Year Off Sick Prisoners
2013-10-08, The Nation
http://www.thenation.com/blog/176533/meet-medical-company-making-14-billion-y...

The healthcare provider Corizon makes an estimated $1.4 billion off sick prisoners every year. With profits like those, you would think it was actually treating prisoners. But in states that are using Corizon to provide healthcare in their prisons—and right now twenty-nine are—medical neglect and abuse run rampant. Corizon’s attitude toward the debilitating virus Hepatitis C is especially alarming: They just don’t treat it. Last year alone, no fewer than seven sick prisoners died at Metro Corrections, a jail in Louisville, Kentucky, while on Corizon’s watch. The company made headlines when six employees quit their jobs, according to local press, “amid an investigation by the jail that found that the workers ‘may’ have contributed” to two of the deaths. This summer, it was announced that the contract between Corizon and the city would not be renewed. The Nation’s Liliana Segura gives an overview of the massive scope of the crisis of companies profiting off mass incarceration: “With 2.3 million people incarcerated in the United States,” she writes, “prisons are big business.”

Note: For a video exposing this craziness, click here. Corizon is just one of the many powerful entities getting rich off mass incarceration. Meet the other Prison Profiteers and take action to fight their abuses at PrisonProfiteers.org. For more on corruption in the government-prison-industrial complex, see the deeply revealing reports from reliable major media sources available here.




Washington state battles over genetically modified food
2013-10-06, USA Today
http://www.usatoday.com/story/news/nation/2013/10/06/washington-state-gmo-lab...

Washington state is the next battleground in an ongoing effort by food activists to get products containing genetically engineered ingredients labeled. Initiative 522 goes before voters Nov. 5. It would require that foods containing ingredients from genetically engineered plants be labeled as such. "We believe that we have a right to know what's in our food," said Elizabeth Larter, the Seattle-based communications director for the Yes on 522 campaign. "This campaign is not about whether GMOs (genetically modified organisms) are good or bad; this is really just providing more information for consumers." The labeling effort is being funded by grass-roots donations and a large contribution from Dr. Bronner's Magic All-One, a California soap company founded in the 1960s. "This is about chemical companies buying up the seed companies," said David Bronner, president of the company. Opponents to labeling "understand that if they lose in Washington state, game over," he said of why the company is supporting the initiative and encouraging others to do so. "In 2013 alone there have been 26 states that have introduced labeling legislation," says Katey Parker with the Just Label It coalition, a pro-labeling group based in Washington, D.C. Washington's Yes on 522 campaign so far has raised $4.8 million. Squaring off on the other side is a coalition of food manufacturers and seed producers that thus far has raised a war chest of $17.2 million. That's a state record. The top five contributors were the Grocery Manufacturers Association, Monsanto, DuPont Pioneer, Dow AgroSciences and Bayer CropScience.

Note: For lots more on the serious risks posed by genetically-modified food, see the deeply revealing reports from reliable major media sources available here.




Japan’s Nuclear Refugees, Still Stuck in Limbo
2013-10-02, New York Times
http://www.nytimes.com/2013/10/02/world/asia/japans-nuclear-refugees-still-st...

While the continuing environmental disaster at the Fukushima Daiichi plant has grabbed world headlines — with hundreds of tons of contaminated water flowing into the Pacific Ocean daily — a human crisis has been quietly unfolding. Two and a half years after the plant belched plumes of radioactive materials over northeast Japan, the almost 83,000 nuclear refugees evacuated from the worst-hit areas are still unable to go home. Some have moved on, reluctantly, but tens of thousands remain in a legal and emotional limbo while the government holds out hope that they can one day return. As they wait, many are growing bitter. Now they suspect the government knows that the unprecedented cleanup will take years, if not decades longer than promised, as a growing chorus of independent experts have warned, but will not admit it for fear of dooming plans to restart Japan’s other nuclear plants. That has left the people of Namie and many of the 10 other evacuated towns with few good choices. They can continue to live in cramped temporary housing and collect relatively meager monthly compensation from the government. Or they can try to build a new life elsewhere, a near impossibility for many unless the government admits defeat and fully compensates them for their lost homes and livelihoods. For Namie’s residents, government obfuscation is nothing new. On the day they fled, bureaucrats in Tokyo knew the direction they were taking could be dangerous, based on computer modeling, but did not say so for fear of causing panic. The townspeople headed north, straight into an invisible, radioactive plume.

Note: For more on the devastation caused by nuclear power, see the deeply revealing reports from reliable major media sources available here.




Monsanto’s Losses Widen as Seed Sales Decline
2013-10-02, New York Times/Associated Press
http://www.nytimes.com/aponline/2013/10/02/business/ap-us-earns-monsanto.html

Agricultural business giant Monsanto reported worse-than-expected losses for its fiscal fourth quarter ... due to lower sales of its genetically engineered seeds. The company forecast for fiscal 2014 also came in below Wall Street expectations, and it revealed plans to buy farming software and data firm The Climate Corporation. The combination sent shares lower in morning trading. The St. Louis company recorded a loss of $249 million, or 47 cents per share, for the quarter ended Aug. 31. That was wider than its loss of $264 million, or 42 cents per share, in the 2012 fourth quarter. The company's performance was hurt by a steep drop in sales of genetically modified soybean seeds, which fell 38 percent to $87 million.

Note: For more on the destructive impacts of Monsanto's GMO seed/pesticides technology, see the deeply revealing reports from reliable major media sources available here.




Masses of food wasted - 'use by' dates mislead
2013-09-19, San Francisco Chronicle (SF's leading newspaper)
http://www.sfgate.com/science/article/Masses-of-food-wasted-use-by-dates-misl...

Americans throw away 40 percent of the food they buy, often because of misleading expiration dates that have nothing to do with safety, said a study released [on September 18] by Harvard University Law School and the Natural Resources Defense Council, an environmental group. The report said 90 percent of Americans toss good food into the garbage because they mistakenly think that "sell by," "best before," "use by" or "packed on" dates on food containers indicate safety. One-fifth of consumers, the report said, "always" throw away food based on package dates. In fact, "sell by" dates are used by retailers for inventory control. "Best before" or "use by" dates usually reflect manufacturer estimates of peak quality. While some labels are intended to indicate freshness, none of them reflects edibility or safety, said Ted Labuza, a food science professor at the University of Minnesota who collaborated with the authors. "If food looks rotten and smells bad, throw it away, but just because it reaches a certain date does not mean the food is unsafe," Labuza said. "I don't know of any food poisoning outbreak that came from people eating food that was past its shelf-life date." The report estimated the value of food tossed away at $165 billion a year. Food waste is a big source of greenhouse gases. Wasting food also squanders vast quantities of water, land, fertilizers, petroleum, packaging and other resources that go into producing it. About a quarter of all fresh water used in the United States goes into the making of food that is thrown away, the report said.




Fukushima 'not under control' warns TEPCO official
2013-09-13, Fox News/Agence France Presse
http://www.foxnews.com/world/2013/09/13/fukushima-not-under-control-warns-tep...

The Japanese government and TEPCO were scrambling to reassure people [on Sep. 13] that they have a lid on Fukushima after a senior utility executive said the nuclear plant was "not under control". The remarks by Kazuhiko Yamashita, who holds the executive-level title of "fellow" at Tokyo Electric Power, seem to flatly contradict assurances Prime Minister Shinzo Abe gave Olympic chiefs a week earlier. In a meeting with members of the opposition Democratic Party of Japan, Yamashita was asked whether he agreed that "the situation is under control" as Abe had declared at the International Olympic Committee meeting in Buenos Aires. He responded by saying, "I think the current situation is that it is not under control," according to major media, including national broadcaster NHK. News of his comment prompted a rush by the government and TEPCO to elaborate on Yamashita's remark, saying he was talking specifically about the plant's waste water problem, and not the facility's situation in general. TEPCO has poured thousands of tonnes of water on the Fukushima reactors to tame meltdowns sparked by the March 2011 earthquake and tsunami. The utility says they are now stable but need to be kept cool to prevent them running out of control again. Much of that now-contaminated water is being stored in temporary tanks at the plant, and TEPCO has so far revealed no clear plan for it. The problem has been worsened by leaks in some of those tanks that are believed to have seeped into groundwater, which runs out to sea.

Note: For an excellent ABC News article titled "A Never-Ending Disaster at Fukushima," click here. For more on the grave environmental impacts of nuclear power, see the deeply revealing reports from reliable major media sources available here.




Greg Palast: Potential Fed Chair Summers at Heart of Global Economic Crisis
2013-09-03, Truthout
http://www.truth-out.org/news/item/18555-revealed-potential-fed-chair-summers...

Investigative journalist Greg Palast has obtained a secret memo authored by then deputy Treasury secretary Larry Summers and his protégé Timothy Geithner detailing their plans to roll back financial regulation. In the piece, titled "The Confidential Memo at the Heart of the Global Financial Crisis", [Palast] writes: "The Memo confirmed every conspiracy freak's fantasy: that in the late 1990s, the top U.S. Treasury officials secretly conspired with a small cabal of banker big-shots to rip apart financial regulation across the planet. When you see 26.3 percent unemployment in Spain, desperation and hunger in Greece, riots in Indonesia and Detroit in bankruptcy, go back to this End Game memo, the genesis of the blood and tears." [Palast:] This is really important right now because Larry Summers is President Obama's top choice to become head of a Federal Reserve Board. He would take Ben Bernanke's place. And what this memo is--they call it the "end game memo". Geithner calls it the "end game". And what's the game being played? The memo asks Summers to get back to the five biggest, most powerful bankers in the United States to act on and determine what our policy should be for world governance of the banking system. Basically, there were secret calls going between Larry Summers and the head of Bank of America, the head of Goldman Sachs, the head of Citibank and Merrill, the five big boys, to find out what should happen to the world financial policing order. And the answer was: smash it. Summers was holding secret meetings with the big bankers to come up with a scheme to eliminate financial regulation across the planet.

Note: Greg Palast is a New York Times-bestselling author and a freelance journalist for the British Broadcasting Corporation as well as the British newspaper The Observer. He is one of the few journalists uncovering the deepest layers of secrecy in our world. For a key past report of his on elections corruption, click here.




How to Charge $546 for Six Liters of Saltwater
2013-08-25, New York Times
http://www.nytimes.com/2013/08/27/health/exploring-salines-secret-costs.html?...

It is one of the most common components of emergency medicine: an intravenous bag of sterile saltwater. Luckily for anyone who has ever needed an IV bag to replenish lost fluids or to receive medication, it is also one of the least expensive. The average manufacturer’s price, according to government data, has fluctuated in recent years from 44 cents to $1. Yet there is nothing either cheap or simple about its ultimate cost, as [revealed by] the commercial path of IV bags from the factory to the veins of more than 100 patients struck by a May 2012 outbreak of food poisoning in upstate New York. Some of the patients’ bills would later include markups of 100 to 200 times the manufacturer’s price, not counting separate charges for “IV administration.” And on other bills, a bundled charge for “IV therapy” was almost 1,000 times the official cost of the solution. At every step from manufacturer to patient, there are confidential deals among the major players, including drug companies, purchasing organizations and distributors, and insurers. These deals so obscure prices and profits that even participants cannot say what the simplest component of care actually costs, let alone what it should cost. And that leaves taxpayers and patients alike with an inflated bottom line and little or no way to challenge it. The real cost of a bag of normal saline, like the true cost of medical supplies from gauze to heart implants, disappears into an opaque realm of byzantine contracts, confidential rebates and fees that would be considered illegal kickbacks in many other industries.

Note: For more on this, see concise summaries of deeply revealing medical corruption news articles from reliable major media sources.




Facial Scanning Is Making Gains in Surveillance
2013-08-21, New York Times
http://www.nytimes.com/2013/08/21/us/facial-scanning-is-making-gains-in-surve...

The federal government is making progress on developing a surveillance system that would pair computers with video cameras to scan crowds and automatically identify people by their faces, according to newly disclosed documents and interviews with researchers working on the project. The Department of Homeland Security tested a crowd-scanning project called the Biometric Optical Surveillance System — or BOSS — last fall after two years of government-financed development. Although the system is not ready for use, researchers say they are making significant advances. That alarms privacy advocates, who say that now is the time for the government to establish oversight rules and limits on how it will someday be used. In a sign of how the use of such technologies can be developed for one use but then expanded to another, the BOSS research began as an effort to help the military detect potential suicide bombers. But in 2010, the effort was transferred to the Department of Homeland Security to be developed for use instead by the police in the United States. The effort to build the BOSS system involved a two-year, $5.2 million federal contract given to Electronic Warfare Associates, a Washington-area military contractor with a branch office in Kentucky. Significant progress is already being made in automated face recognition using photographs taken under ideal conditions, like passport pictures and mug shots. The Federal Bureau of Investigation is spending $1 billion to roll out a Next Generation Identification system that will provide a national mug shot database to help local police departments verify identities.

Note: For more on government and corporate threats to privacy, see the deeply revealing reports from reliable major media sources available here.




5 companies that make money by keeping Americans scared
2013-08-19, Salon
http://www.salon.com/2013/08/19/5_companies_that_make_money_by_keeping_americ...

Michael Hayden, the former director of the National Security Agency, has invaded America’s television sets in recent weeks to warn about Edward Snowden’s leaks and the continuing terrorist threat to America. But what often goes unmentioned, as the Guardian’s Glenn Greenwald pointed out, is that Hayden has a financial stake in keeping Americans scared and on a permanent war footing against Islamist militants. And the private firm he works for, called the Chertoff Group, is not the only one making money by scaring Americans. Post-9/11 America has witnessed a boom in private firms dedicated to the hyped-up threat of terrorism. The drive to privatize America’s national security apparatus accelerated in the aftermath of the terrorist attacks, and it’s gotten to the point where 70 percent of the national intelligence budget is now spent on private contractors, as author Tim Shorrock reported [in Spies for Hire: the Secret World of Intelligence Outsourcing]. The private intelligence contractors have profited to the tune of at least $6 billion a year. In 2010, the Washington Post revealed that there are 1,931 private firms across the country dedicated to fighting terrorism. What it all adds up to is a massive industry profiting off government-induced fear of terrorism, even though Americans are more likely to be killed by a car crash or their own furniture than a terror attack. Here are five private companies cashing in on keeping you afraid. 1. The Chertoff Group 2. Booz Allen Hamilton 3. Science Applications International Corp. 4. Center for Counterintelligence and Security Studies 5. Security Solutions International.

Note: For more on government and corporate corruption in pushing the terror hoax, see the deeply revealing reports from reliable major media sources available here.




Toxic Fukushima fallout threatens fishermen's livelihoods
2013-08-09, The Guardian (One of the UK's leading newspapers)
http://www.theguardian.com/world/2013/aug/09/fukushima-fallout-threatens-fish...

Despite his age, 63-year-old Kazuo Niitsuma believes there are many more years of fishing ahead of him. The sea is in his family's blood, he says. His octogenarian father began working on boats when he was 12, and only retired three years ago. But ... Niitsuma knows he may never again get the chance to board his boat and head out into the Pacific in search of sole, whitebait, flounder and greenling. The greatest threat to Niitsuma's livelihood, and that of other fishermen in Hisanohama ... lies just up the coast at the Fukushima Daiichi nuclear power plant. The environment ministry recently announcement that 300 tonnes of contaminated groundwater from Fukushima Daiichi is still seeping over or around barriers into the Pacific every day, more than two years after it was struck by a tsunami in March 2011. Government officials said they suspected the leaks had started soon after the accident. The admission by the ministry, confirmed by Tokyo Electric Power (Tepco), which runs the plant, is likely to keep Hisanohama's 40 fishing boats in port for the foreseeable future. Tepco's failure to handle the contaminated water – and accusations that it tried to cover up the leaks – is a serious setback to attempts to clean up Fukushima Daiichi, 18 months after the government declared it had reached a "safe" state known as cold shutdown. "I haven't been able to fish since the tsunami," Niitsuma said. "People want to be reassured that they are buying fish that is safe to eat, and we can't give them that guarantee at the moment."

Note: Declaring the situation an "emergency", the Japanese government has stepped in to take over control of the response from Tepco. For more on this, click here. For a National Geographic article on what you need to know about the radioactive contamination of the Pacific Ocean by the Fukushima disaster, click here. It reports that scientists have estimated that contaminated seawater could reach the West Coast of the United States in five years or less. For more on the environmental devastation of nuclear power, see the deeply revealing reports from reliable major media sources available here.




New Leaks Into Pacific at Japan Nuclear Plant
2013-08-07, New York Times
http://www.nytimes.com/2013/08/07/world/asia/leaks-into-pacific-persist-at-ja...

Tons of contaminated groundwater from the stricken Fukushima nuclear plant have overwhelmed an underground barrier and are emptying daily into the Pacific, creating what a top regulator has called a crisis. The water contains strontium and cesium, as well as tritium. The plant was already struggling to store hundreds of thousands of tons of contaminated water that flowed through the buildings housing three reactors where [three] meltdowns occurred in 2011. But the contamination in this new groundwater problem is from different sources, Tepco said. The company has admitted that it failed to respond quickly enough to the latest groundwater contamination, saying it was preoccupied with more pressing issues like cooling the damaged reactors. “Tepco appears overwhelmed in dealing with what is a very serious problem,” said Akio Yamamoto, a professor of nuclear engineering at Nagoya University, who serves as outside expert for the Nuclear Regulation Authority, Japan’s nuclear watchdog. Critics contend that the plant has emitted far more radioactive materials than it is saying, based in part on levels of contaminants discovered in the harbor, which are well above safe levels in some places. The contamination appears to be spreading, with tests last month by Tepco showing high levels of tritium and other radioactive elements like strontium starting at other locations near the two other crippled reactors.

Note: Declaring the situation an "emergency", the Japanese government has stepped in to take over control of the response from Tepco. For more on this, click here. For a National Geographic article on what you need to know about the radioactive contamination of the Pacific Ocean by the Fukushima disaster, click here. It reports that scientists have estimated that contaminated seawater could reach the West Coast of the United States in five years or less. For more on the environmental devastation of nuclear power, see the deeply revealing reports from reliable major media sources available here.




Banks hate Richmond homeowners' bailout plan
2013-08-05, San Francisco Chronicle (SF's leading newspaper)
http://www.sfchronicle.com/bayarea/johnson/article/Banks-hate-Richmond-homeow...

Richmond [CA] city officials took a giant leap forward for everyday people last week when they announced a program to purchase ailing residential mortgages and refinance them through a financial partnership and a bold new initiative that's already begun. To accomplish the task, the city said it will use its eminent domain powers in reverse: To save a home instead of condemn it. Much to the displeasure of the banking industry, the city sent offer letters to more than 600 homeowners whose mortgages are held by nongovernment lending institutions. The program offers to pay lenders the current market value of the property, not the higher value of the mortgage. Under the Richmond program, a bank that approved a $500,000 mortgage would be paid roughly 80 percent of its investment. Already, some lenders contend that such a law violates constitutionally protected property rights and sets a precedent that could open the floodgates for other cities in the same predicament. The mere exploration of similar programs in a half-dozen California cities and counties provoked a strong reaction from the banking industry. Financial experts have warned that the Richmond policy is certain to spawn legal challenges and a backlash from lenders who recalculate higher mortgages in Richmond to offset the risk of the city using a local law to claim a foreclosed property. That's interesting, because no measure was too extreme, no taxpayer sacrifice too great to come up with and fund a new financial model to bail out the bankers and brokerage firms in 2008. But that's what the federal government - and American taxpayers did.

Note: For more on financial corruption, see the deeply revealing reports from reliable major media sources available here.




California duped on energy buys again
2013-08-01, San Francisco Chronicle (SF's leading newspaper)
http://www.sfchronicle.com/opinion/editorials/article/California-duped-on-ene...

JPMorgan Chase & Co. has agreed to pay federal regulators $410 million to settle allegations that the giant bank manipulated energy markets in California and Michigan. About $285 million of the settlement will go to the U.S. Treasury for civil penalties, and about $124 million will be refunded to California ratepayers. The remainder will be refunded to Michigan ratepayers. If this story sounds familiar, that's because it is. Californians who remember the Enron energy debacle of 2000-01 won't be surprised to learn that JPMorgan's traders have been accused of fraudulent behavior. Once again, the fraud was performed by manipulating the auction system that was developed by a quasi-state agency, the California Independent System Operator, to handle California's electricity needs. The Federal Energy Regulatory Commission found that JPMorgan engaged in 12 manipulative bidding strategies, which wound up forcing ratepayers to pay higher amounts than they should have - all because the bank wanted to find a cheap way to profit off of aging power plants in Southern California. JPMorgan used a variety of bait-and-switch strategies - duping Cal-ISO into paying exorbitant fees for running the plants at a low level, for instance, or manipulating the bidding system so that Cal-ISO was forced to pay rates that were many times higher than market rate. The fact that this kind of manipulation is still happening is upsetting. And while $410 million is a record settlement for the FERC, it's a drop in the bucket to JPMorgan, which reported $6.5 billion in quarterly profits this month.

Note: Remember Enron, which scammed millions and then went bankrupt, wiping out pensions of its many employees? To read CBS reports on how Enron purposely shut down power plants so they could cause and then cash in on the energy crisis, click here.





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