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


Below are highly revealing excerpts of important corporate corruption articles reported in the media suggesting a major 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.

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.


Secrecy over fracking chemicals clouds environmental risks, advocates say
2015-07-05, The Guardian (One of the UK's leading newspapers)
http://www.theguardian.com/environment/2015/jul/05/fracking-injection-chemica...

A report by the Environmental Protection Agency (EPA) last month found that hydraulic fracturing for oil and gas can lead, and has led, to the contamination of drinking water. It was the first time the federal government had admitted such a link. But Gretchen Goldman, a lead analyst at the Center for Science and Democracy at the Union for Concerned Scientists, told the Guardian that the EPA’s study – which is now open for comment – was nothing “more than a literature review” and called for the industry to be required to divulge greater data. Goldman says the EPA backed down from its initial promise to undertake prospective studies, which would have involved following a well site and testing its waters before, during and after fracking activities had begun. Such a study would have shed objective light on the fracking process and pushed scientific knowledge forward, she says. Even when companies were forced to share information through state regulations, they were still allowed to withhold ... the identity and mixture of chemicals that are injected into the ground through wells, together with water, at high intensity to fracture underground rocks and release oil or gas. In 2005 lobbying efforts by the oil and gas industry proved successful, with hydraulic fracturing activities exempted from certain sections of the Safe Drinking Water Act, including permit application.

Note: For more along these lines, read this Los Angeles Times article about how fracking poisons drinking water, and see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.


Inside the Shadowy Business of Prison Phone Calls
2015-07-02, International Business Times
http://atavist.ibtimes.com/fcc-prison-telecom-industry

The prison phone business is a wildly complex, fiercely secretive and enormously lucrative industry. Over the last decade, [this] business has become a scandalous industry, characterized by lawsuits, exorbitant fees, high phone rates and monopolistic relationships between public jails and private companies that openly offer kickbacks to local sheriffs. "This is about shifting the cost of the police state onto the backs of the poor people being policed," says Paul Wright, executive director of Human Rights Defense Center. [There are] an estimated 2.2 million inmates currently behind bars in America. If you've ever tried to call an inmate, there's a good chance you've heard of Securus, or its main competitor, Global Tel*Link (GTL). The two companies reportedly make up about 80 percent of the prison phone business, which drives about $1.2 billion per year in revenues. In the last few years, Securus, especially, has emerged into one of the largest, if not most secretive, prison technology companies in the business. The company employs 1,000 associates in 46 states, contracts with 2,600 jails and prisons across North America, and provides service to more than 1 million inmates and their families. Securus earned $114.6 million in profits 2014, on revenues of about $404 million. When companies like Securus send proposals to jails and prisons around the country, they offer a percentage of the call rate back to the sheriff's office. It's typical for commissions to range anywhere from 40 percent and 80 percent.

Note: Read more in this Huffington Post article. For more along these lines, see concise summaries of deeply revealing news articles on prisons corruption from reliable major media sources.


How pharmaceutical company Alexion set the price of the world's most expensive drug
2015-06-25, CBC (Canada's PBS)
http://www.cbc.ca/news/health/how-pharmaceutical-company-alexion-set-the-pric...

What if your life depended on a drug that cost half a million dollars a year, every year, for the foreseeable future? That's the price of Soliris, one of the world's most expensive drugs. It is the only medicine available for people suffering from two ultra-rare diseases. And for both diseases, Soliris is not a cure, but ... patients can go back to living normal lives. But only if they can get the drug, and many can't, because it is priced beyond the reach of almost everyone. So how can one drug cost more than the annual income of all but a tiny percentage of households? The reason is ... orphan drug pricing, where actual research and development costs are carefully guarded secrets known only to drug company executives. "Orphan" in this context refers to rare diseases [for which] the patient population was too small to attract the interest of drug companies. But now medications to treat these ultra-rare diseases are becoming more profitable than traditional drugs, because of ... a business model based on extreme pricing. The extreme prices of these new orphan drugs are largely arbitrary, and have very little to do with the development and manufacturing costs. Most drugs are based on scientific discoveries made in publicly funded research labs, by academic scientists. In case of Soliris, most of the research and development was done by university researchers working in academic laboratories supported by public funds. Soliris is Alexion's only drug, but it's a blockbuster, earning revenues of more than $6 billion in just eight years, and making Alexion one of the fastest growing companies in the world.

Note: For more along these lines, see concise summaries of deeply revealing news articles on pharmaceutical corruption from reliable major media sources. Then explore the excellent, reliable resources provided in our Health Information Center.


No More Plastic: Lego Pledges $150 Million to Go Green
2015-06-25, Yahoo! News
https://www.yahoo.com/makers/lego-pledges-150-million-to-go-green-12244194943...

Lego just announced a bold 10-year plan to makes its goods more environmentally friendly. This comes after a 2013 partnership with the World Wildlife Fund to develop a plan in reducing its overall carbon emissions, as well as those of its supply chain. Lego pledged to invest $150 million to find a replacement for the plastic used in its blocks as well as to reduce the size of its packaging. A commitment for this kind of strategy includes using recycled or renewed materials and improving the recyclability of its products. Hasbro and Mattel, producers of such iconic toys as Play-Doh and Hot Wheels, respectively, have also vowed to invest in this global issue. By 2020, Hasbro plans to reduce its waste, water, energy, and greenhouse gas emissions. It is also overhauling the packaging for most of its brands. These strides have led to Hasbro being named a winner of the EPA's 2014 Climate Leadership Award. After caving to mounting pressure from Greenpeace, Mattel committed to source new materials for its packaging, setting a goal of 85 percent recycled materials by the end of 2015. "The investment announced is a testament to our continued ambition to leave a positive impact on the planet, which future generations will inherit," said Lego Group owner Kjeld Kirk Kristiansen. Words we should all try to live by.

Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.


Neil Young's new album blasts Walmart, Monsanto
2015-06-19, CNN
http://money.cnn.com/2015/06/19/investing/neil-young-monsanto-starbucks-walma...

Neil Young ... has a new album coming out at the end of June called "The Monsanto Years." And it's a biting attack on the seed giant -- as well as other big corporations. The title track refers to "the poison tide of Monsanto" and describes a farmer who "signs a deal for GMOs that makes life hell with Monsanto." Young also lashes out at Starbucks in a song called "A Rock Star Bucks a Coffee Shop." "I want a cup of coffee but I don't want a GMO. I like to start my day off without helping Monsanto," Young sings in his trademark nasal whine. The singer announced ... that he would no longer drink Starbucks lattes because the company, along with Monsanto, was part of the Grocery Manufacturers Association trade group. That organization sued the state of Vermont to overturn a law that would require food and beverage companies to disclose on their labels if GMOs are used in the products. "GMO labeling matters. Mothers need to know what they are feeding their children. They need freedom to make educated choices at the market," Young said. Young also rails against the Supreme Court's Citizens United ruling on campaign finance in several songs. And he criticizes Walmart's labor practices in a song called "Big Box," which has the following verse: "People working part-time at Walmart never get the benefits for sure." So far, it looks like Walmart isn't planning to retaliate against Young. You can preorder "The Monsanto Years" at Walmart.com.

Note: For more along these lines, see concise summaries of deeply revealing genetic modification news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our Health Information Center.


Push for Privacy Standards for Facial Recognition Falters
2015-06-16, ABC News/Associated Press
http://abcnews.go.com/Technology/wireStory/push-privacy-standards-facial-reco...

Retailers have the ability to scan your face digitally, and use that identification to offer you special prices or even recognize you as a prior shoplifter. But should they use it? Should they get your permission first? Privacy advocates announced Tuesday they have walked away from a government-run effort with industry intended to ... hash out voluntary protocols for facial recognition technology in a way that doesn't hurt consumers. The Commerce Department's National Telecommunications and Information Administration, or NTIA, was acting as mediator. The two sides had been meeting for 16 months ... until the nine major privacy groups said they had hit a dead end and that "people deserve more protection than they are likely to get in this forum. At a base minimum, people should be able to walk down a public street without fear that companies they've never heard of are tracking their every movement — and identifying them by name — using facial recognition technology," the groups said. "We have been unable to obtain agreement even with that basic, specific premise." The ability to apply a unique signature to a person's face, even if you don't identify them by name, is particularly invasive, according to privacy advocates. "You can change your password and your credit card number; you cannot change your fingerprints or the precise dimensions of your face. Through facial recognition, these immutable, physical facts can be used to identify you, remotely and in secret, without any recourse."

Note: Read this article for more in this matter. Remember, the same technologies that lead to the disappearance of privacy rights for individuals are also used by corrupt corporations against nonprofit civic organizations to undermine democracy.


Perhaps the world's conspiracy theorists have been right all along
2015-06-15, The Telegraph (One of the UK's leading newspapers)
http://www.telegraph.co.uk/men/thinking-man/11671617/Perhaps-the-worlds-consp...

Today’s conspiracy theory is tomorrow’s news headlines. The truth is not only out there, but it’s more outlandish than anything we could have made up. So, what are some of our biggest conspiracies? The Iraq War. America is attacked by terrorists and so, declares war on a country that had nothing whatsoever to do with the attacks, while ignoring an oil rich ally which had everything to do with them. The result is a disaster. And yet, we can’t really bring ourselves to hold anyone accountable. Fifa [is] the conspiracy du jour. We always knew Fifa was shonky and bribey, but ... it now looks like every World Cup in the last three decades ... could have been fixed. For those who say "it’s only a stupid sport", well, recently we’ve heard accusations of arms deals for votes involving ... Saudi Arabia. The banking crisis [is a] nice financial counterpoint to Iraq. Virtually destroy the western financial system. Get bailed out by the taxpayers who you’ve been ripping off. Oh, and while we’re at it, the banks played a part in the Fifa scandal. Paedophiles. At first it was just a few rubbish light entertainers. Then we had people muttering about the political establishment – and others counter-muttering don’t be ridiculous, that’s a conspiracy theory. But it wasn’t. Now, it’s a slow-motion train crash and an endless series of glacial government inquiries.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the corporate world.


France Bans Sales of Monsanto's Roundup in Garden Centers, 3 Months After U.N. Calls It 'Probable Carcinogen'
2015-06-15, Newsweek
http://www.newsweek.com/france-bans-sale-monsantos-roundup-garden-centers-aft...

After an arm of the U.N.'s World Health Organization (WHO) identified the main ingredient in Monsanto's popular weed killer Roundup as "probably carcinogenic to humans," France has taken a step to limit sales of the herbicide. On Sunday, French Ecology Minister Segolene Royal announced that the government would ban the sale of Roundup at garden centers in the country. Roundup and generic versions of glyphosate are still the most widely used herbicides in the world, among farmers and municipalities alike. As of 2012, it was the top choice of New York City for killing weeds in its parks. Farmers like Roundup because "Roundup Ready" versions of crops like corn and soybeans have been modified to specifically tolerate the herbicide, allowing growers to spray Roundup widely across their fields without damaging their crops. Shortly after the WHO announcement, Patrick Moore, who has an ecology Ph.D. and is a controversial defender of genetically modified crops, offered to drink Roundup on French television to prove its safety. But when a TV host offered him a glass of the stuff, Moore refused, and the video of the exchange quickly went viral online.

Note: The Netherlands, Bermuda, and Sri Lanka preceded France in banning over the counter sales of Roundup. Watch a revealing documentary showing how Monsanto ruthlessly pursued farmers to stop them from planting their own seeds and corrupted judges to illegally support their efforts. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources. Then explore the excellent, reliable resources provided in our Health Information Center.


Three charts that show Iceland's economy recovered after it imprisoned bankers and let banks go bust - instead of bailing them out
2015-06-11, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/news/business/news/three-charts-that-show-icelan...

Six years ago ... Iceland made the shocking decision to let its banks go bust. Iceland also allowed bankers to be prosecuted as criminals – in contrast to the US and Europe, where ... chief executives escaped punishment. While the UK government nationalised Lloyds and RBS with tax-payers’ money and the US government bought stakes in its key banks, Iceland ... said it would shore up domestic bank accounts. Everyone else was left to fight over the remaining cash. It also imposed capital controls restricting what ordinary people could do with their money. The plan worked. Iceland took a huge financial hit, just like every other country caught in the crisis. This year the International Monetary Fund declared that Iceland had achieved economic recovery 'without compromising its welfare model' of universal healthcare and education. Other measures of progress like the country’s unemployment rate, compare ... well with countries like the US. Rather than maintaining the value of the krona artificially, Iceland chose to accept inflation. This pushed prices higher at home but helped exports abroad – in contrast to many countries in the EU, which are now fighting deflation. This year, Iceland will become the first European country that hit crisis in 2008 to beat its pre-crisis peak of economic output.

Note: Iceland's plan to retake control of its money supply from the banks was labelled "Radical" by mainstream economists. Now we learn that their plan rooted out financial industry corruption and successfully got their economy back on track.


Review: ‘An Open Secret’ Spotlights Child Sexual Abuse in Hollywood
2015-06-11, New York Times
http://www.nytimes.com/2015/06/12/movies/review-an-open-secret-spotlights-chi...

You may miss a few moments of “An Open Secret,” either while looking away during its unsettling stories or closing your eyes in frustration. The film centers on a handful of young men who say that as child actors they were sexually assaulted by older men in the entertainment industry. Manipulations, cover-ups and exploitations are recounted, and in several cases accountability was weak; some of the culprits, we’re told, still work in Hollywood. The victims and their parents defy the stereotype of hard-driving dream-seekers. They come across as merely trusting, which led them to rely on those who promised successful careers. Such faith was exploited by men who later turned out to be predators. “He just told me it’s normal, like, this goes on all the time, this is what you have to do,” one young man says he was told after being molested by his manager. “Everybody does this.” Shame and fear of reprisals initially led him to stay silent, and may be keeping more victims from speaking out. [Director Amy] Berg connects that manager, Martin Weiss, who pleaded no contest to two counts of child molestation in 2012, to a string of other men in Hollywood who have also been accused or convicted of similar crimes. Further aggressive reporting is needed. This topic deserves a tenacious call for answers. Still, “An Open Secret” is affecting, particularly when the victims recount their experiences in voices that crack with emotion or pause with pain. Even if you do look away, hearing them speak is enough.

Note: Read a much more detailed report. Then learn how the film's director strangely distanced herself from the film, likely because she was threatened.


Leaked trade deal terms prompt fears for Pharmaceutical Benefits Scheme
2015-06-11, The Guardian (One of the UK's leading newspapers)
http://www.theguardian.com/business/2015/jun/11/pacific-trade-deal-raises-fea...

The leak of new information on the Trans-Pacific Partnership agreement (TPP) shows the mega-trade deal could provide more ways for multinational corporations to influence Australia’s control of its pharmaceutical regulations. Revealed via Wikileaks, the annexe on “transparency and procedural fairness for pharmaceutical products and medical devices” uncovered the draft agreements regarding medicines between the 12 TPPA member countries [representing] 40% of the world’s economy. The leaked text, dated December 2014, laid out the draft rules for member countries regarding medicines under national health care programs, in Australia’s case, the Pharmaceutical Benefits Scheme (PBS). This ‘transparency’ annexe seeks to erode the processes and decisions of agencies that decide which medicines and medical devices to subsidise the public money and by how much. That will mean fewer medicines are subsidised, or people will pay more as co-payments. However, [trade minister Andrew] Robb said ... that the government would not accept anything that would adversely affect the PBS. Parliamentarians were offered the chance to see the TPP draft by Robb [only] if they agreed to a four year non-disclosure agreement. Senator Peter Whish-Wilson ... who has not seen the draft as he refused to agree to the terms of the agreement, said the latest leak suggested the Australian PBS could be undermined.

Note: The Trans-Pacific Partnership may be a pending disaster. But we do not know for sure, because its contents remain secret. For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the corporate world.


When It’s O.K. to Pay for a Story
2015-06-09, New York Times
http://www.nytimes.com/2015/06/09/opinion/when-its-ok-to-pay-for-a-story.html...

Last week, WikiLeaks disturbed many journalists with an initiative to crowd-source a $100,000 “bounty” on the text of the Trans-Pacific Partnership trade deal. In traditional newsrooms, the idea of offering a cash incentive for the leaking of confidential documents is anathema. But WikiLeaks ... leaves us no choice but to reconsider this prohibition. The TPP exceeds agreements like Nafta in scope and scale and involves far-reaching foreign policy decisions. Its measures will touch the lives of every citizen in the 12 countries expected to sign the pact. Chapters already leaked suggest that the deal restricts fair use of copyrighted material, expands medical patents and weakens public policies that govern net neutrality. Members of Congress can read the text in a secure room but cannot discuss its contents publicly. Representatives from about 600 private corporations are said to have access to the document. Yet the public is excluded. WikiLeaks has arrived at a flawed solution to a very real problem. We have reached a point in the evolution of global democracy at which secrecy and transparency are grotesquely imbalanced. Right now, the bounty may be the best shot we have at transforming the TPP process from a back-room deal to an open debate. But we need a better system to discourage unjustified secrecy, to protect sources and to encourage public-interest whistle-blowing.

Note: The Trans-Pacific Partnership may be a pending disaster. But we do not know for sure, because its contents remain secret. For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the corporate world.


NJ court rules for nurse in vaccine-refusal firing
2015-06-05, Denver Post/Associated Press
http://www.denverpost.com/ci_25906577/

A nurse was unfairly denied unemployment benefits after she was fired for refusing a flu shot without claiming a religious or medical exemption, a New Jersey appeals court ruled Thursday. The three-judge panel wrote that the hospital's policy of allowing religious or medical exemptions to the flu shot requirement "unconstitutionally discriminated against" plaintiff June Valent by rejecting her refusal to be vaccinated for secular reasons. Valent was working as a nurse at Hackettstown Community Hospital in 2010 when the hospital's parent company began requiring employees to take the flu vaccine unless they had medical or religious reasons not to. Employees claiming an exemption were required to sign a form and provide documentation. Anyone refusing the vaccine was required to wear a mask while at work. Valent declined the vaccine but didn't state a medical or religious reason, and agreed to wear a mask. She was terminated based on her refusal of the vaccine and disqualified for unemployment benefits by a Department of Labor board of review after several hearings and appeals from both sides. The board concluded that the hospital demonstrated Valent had engaged in work-related misconduct by refusing the flu shot, according to Thursday's ruling. The appellate judges concluded that the hospital violated Valent's right to freedom of expression by endorsing the religious-based exemption while denying her secular choice.

Note: Read powerful evidence that some vaccines are not safe nor effective. Remember that big Pharma makes billions in profit from vaccines.


Merck accused of stonewalling in mumps vaccine antitrust lawsuit
2015-06-04, Reuters
http://www.reuters.com/article/health-vaccine-idUSL1N0YQ0W820150604

Two former Merck & Co Inc scientists accusing the drugmaker of falsifying tests of its exclusive mumps vaccine said in a court filing on Monday that Merck is refusing to respond to questions about the efficacy of the vaccine. Attorneys ... who represent the scientists asked U.S. Magistrate Judge Lynne Sitarski of the Eastern District of Pennsylvania to compel Merck to respond to their discovery request, which asks the company to give the efficacy of the vaccine as a percentage. Instead of answering the question, the letter said, Merck has been consistently evasive ... saying it cannot run a new clinical trial to determine the current efficacy, and providing only data from 50 years ago. The two scientists, Stephen Krahling and Joan Wlochowski, filed their whistleblower lawsuit in 2010 claiming Merck, the only company licensed by the Food and Drug Administration to sell a mumps vaccine in the United States, skewed tests of the vaccine by adding animal antibodies to blood samples. As a result, they said, Merck was able to produce test results showing that the vaccine was 95 percent effective, even though more accurate tests would have shown a lower success rate. The plaintiffs said these false results kept competitors from trying to produce their own mumps vaccines, since they were unable to match the effectiveness Merck claimed.

Note: For more, read this excellent mercola.com article revealing how a single vaccine can bring in $6 billion in revenue to one company. Read in a CNN report that all 40 Harvard students who recently came down with the mumps had been vaccinated against the disease. For more along these lines, see concise summaries of deeply revealing vaccine controversy news articles from reliable major media sources.


WikiLeaks releases documents related to controversial US trade pact
2015-06-03, The Guardian (One of the UK's leading newspapers)
http://www.theguardian.com/media/2015/jun/03/wikileaks-documents-trade-in-ser...

WikiLeaks on Wednesday released 17 different documents related to the Trade in Services Agreement (Tisa), a controversial pact currently being hashed out between the US and 23 other countries – most of them in Europe and South America. The document dump comes at a tense moment in the negotiations over a series of trade deals. President Barack Obama has clashed with his own party over the deals as critics have worried about the impact on jobs and civil liberties. Unions, which fear heavy job losses once long-standing trade protections are dismantled, reacted with dismay following publication of the previously hidden documents. Rosa Pavanelli, general secretary of the Public Services International union, said: “It is outrageous that our democratically elected governments will not tell us the laws they are making. What has our democracy come to when the community must rely on Wikileaks to find out what our governments are doing on our behalf?” Nick Dearden, director of the charity Global Justice Now ... said: “These leaks reinforce the concerns of campaigners about the threat that TISA poses to vital public services. There is no mandate for such a far-reaching programme. It’s a dark day for democracy when we are dependent on leaks like this for the general public to be informed of the radical restructuring of regulatory frameworks that our governments are proposing.”

Note: According to an investigation by The Guardian, it cost about $1,148,971 to "fast-track" the Trans-Pacific Partnership (TPP), another secret trade deal. How much are corrupt corporations paying to corrupt politicians to purchase their favor for TISA?


Questions about arms deals for Clinton Foundation donors
2015-05-28, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfchronicle.com/opinion/article/Questions-about-arms-deals-for-Cli...

Federal law designates the secretary of state as “responsible for the continuous supervision and general direction of sales” of arms, military hardware and services to foreign countries. In practice, that meant that [Hillary] Clinton was charged with rejecting or approving weapons deals — and when it came to Clinton Foundation donors, Hillary Clinton’s State Department did a whole lot of approving. While Clinton was secretary of state, her department approved $165 billion worth of commercial arms sales to Clinton Foundation donors. That figure ... is almost double the value of arms sales to those countries during the same period of President George W. Bush’s second term. The Clinton-led State Department also authorized $151 billion of separate Pentagon-brokered deals for 16 of the countries that gave to the Clinton Foundation. That was a 143 percent increase in completed sales to those nations over the same time frame during the Bush administration. The 143 percent increase in U.S. arms sales to Clinton Foundation donors compares to an 80 percent increase in such sales to all countries over the same time period. American military contractors and their affiliates that donated to the Clinton Foundation — and in some cases, helped finance speaking fees to Bill Clinton — also got in on the action. Those firms and their subsidiaries were listed as contractors in $163 billion worth of arms deals authorized by the Clinton State Department.

Note: If you can not access this article at the link above, it is also available here. If you look at war and global politics from the point of view of war profiteering, you can see why despite popular opposition to war, it never stops. Read an excellent essay by a top US general exposing how war is a racket.


Here’s how much corporations paid US senators to fast-track the TPP bill
2015-05-27, The Guardian (One of the UK's leading newspapers)
http://www.theguardian.com/business/2015/may/27/corporations-paid-us-senators...

The controversial Trans-Pacific Partnership (TPP) is reaching its climax and as Congress hotly debates the biggest trade deal in a generation, its backers have turned on the cash spigot in the hopes of getting it passed. TPP passed another crucial vote ... to give Barack Obama the authority to speed the bill through Congress. The president’s own supporters, senior economists and a host of activists have lobbied against a pact they argue will favor big business but harm US jobs, fail to secure better conditions for workers overseas and undermine free speech. Fast-tracking the TPP, meaning its passage through Congress without having its contents available for debate or amendments, was only possible after lots of corporate money exchanged hands with senators. This chart shows all donations that corporate members of the US Business Coalition for TPP made to US Senate campaigns between January and March 2015, when fast-tracking the TPP was being debated in the Senate. Out of the total $1,148,971 given, an average of $17,676.48 was donated to each of the 65 “yea” votes. The average Republican member received $19,673.28 from corporate TPP supporters. The average Democrat received $9,689.23 from those same donors. Almost 100% of the Republicans in the US Senate voted for fast-track.

Note: The above article shows how much it costs to purchase the favor of corrupt politicians in the U.S.. For legislation like the Trans-Pacific Partnership, it costs about $1,148,971.


What Ever Happened to Antitrust?
2015-05-25, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/opinion/reich/article/Antitrust-laws-have-lost-all-effe...

The May 20 settlement between the Justice Department and five giant banks reveals the appalling weakness of modern antitrust. The banks had engaged in the biggest price-fixing conspiracy in modern history. It was a "brazen display of collusion" that went on for years, said Attorney General Loretta Lynch. But there will be no trial [and] no executive will go to jail. The fines ... will be treated by the banks as costs of doing business. America used to have antitrust laws that permanently stopped corporations from monopolizing markets. No longer. The result has been higher prices for the many, and higher profits for the few. It's a hidden upward redistribution from the majority of Americans to corporate executives and wealthy shareholders. Similar upward distributions are occurring elsewhere in the economy. The four largest food companies control 82 percent of beef packing, 85 percent of soybean processing, 63 percent of pork packing, and 53 percent of chicken processing. Monsanto alone owns the key genetic traits to more than 90 percent of the soybeans planted by farmers in the United States, and 80 percent of the corn. Big Agribusiness wants to keep it this way. The list goes on, industry after industry, across the economy. Antitrust has been ambushed by the giant companies it was designed to contain. The market is rigged. And unless government unrigs it through bold antitrust action to restore competition, the upward distributions hidden inside the "free market" will become even larger.

Note: The above article was written by former US Secretary of Labor and current professor of public policy at UC Berkeley Robert Reich. For more along these lines, see concise summaries of deeply revealing news articles about the systemically corrupt financial industry and the income inequality that this contributes to.


Why putting bank bosses behind bars is still nigh on impossible
2015-05-23, The Guardian (One of the UK's leading newspapers)
http://www.theguardian.com/business/2015/may/23/putting-bankers-in-jail-nigh-...

Since the 2008 banking crisis led to multibillion-pound bailouts, some bankers have ended up behind bars. However, to many, the list seems short when compared with the $235bn of fines that Reuters calculates have been imposed on 20 major banks in the past seven years for market rigging, sanctions busting, money laundering and mis-selling mortgage bonds in the runup to the 2008 crisis. Robert Jenkins, a former Bank of England policymaker [says] one reason regulators backed away from proceedings against individuals is fear. This dates back to 2002, when accountancy firm Arthur Andersen was convicted of destroying documents related to its audits of Enron. The prosecution was overturned in 2005, too late to save what had been one of the world’s biggest accountants from collapse. There was, Jenkins said, “fear by the US authorities of a banking version of Arthur Andersen at a time of financial fragility”. But he lists other problems, [such as] lobbying by bankers and the naivete of regulators. Jenkins added the banks should ... face the threat of being broken up: “When it comes to the systematic wrongdoing on their watch, either the senior executives knew, did not know or cannot be expected to know. If they knew they are complicit. If they did not know they are incompetent. And if the banks are so large and complex that they cannot be expected to know, then they are a walking argument for breaking up the banks.”

Note: After the bailout in 2008, the percentage of US banking assets held by the big banks has almost doubled. Could this possibly have been planned? For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the financial industry.


Misconduct bill tops $235 bln as banks struggle to shake off past sins
2015-05-22, CNBC/Reuters
http://www.cnbc.com/2015/05/22/reuters-america-misconduct-bill-tops-235-bln-a...

Twenty of the world's biggest banks have paid more than $235 billion in fines and compensation in the last seven years for a litany of misdeeds. The scale of the payouts, equivalent to the annual economy of Greece or Portugal, has hampered banks' efforts to rebuild capital, reduced dividends for investors and cut the amount firms are able to lend. The misconduct bill is expected to rise by tens of billions more dollars, and many politicians, regulators and industry observers said more needs to be done. Mark Taylor, dean of the business school at the University of Warwick in central England [says] bonuses are too high, there is little threat of jail for wrongdoers and bosses are not held responsible. "The problem is the incentives for cheating markets is massive. If you can shift a rate fractionally you can make millions and millions of dollars for your bank and then for bonuses. "Once senior executives feel they are personally at risk if the culture doesn't change, and individual traders feel they are at risk of being put in prison, then you'll get a culture change," he said. Despite the scale of fines and compensation paid by banks, relatively few individuals have been punished. Data compiled by Reuters ... showed U.S. banks have paid $140 billion in litigation and compensation for mortgage related issues since 2008. Bank of America has paid out twice as much as any other bank in settlements and compensation, with a bill of almost $80 billion.

Note: Big bank settlements often amount to "cash for secrecy" deals that are ultimately profitable for banks. For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the financial industry.


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