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.

Elizabeth Warren Wants HSBC Bankers Jailed for Money Laundering
2013-03-07, ABC News
http://abcnews.go.com/blogs/politics/2013/03/elizabeth-warren-wants-hsbc-bank...

Elizabeth Warren has a question: How much money does a bank have to launder before people go to jail? Warren ... posed that question numerous times to financial regulators at a Senate Banking Committee hearing [on] banks and money laundering. In December, U.S. Justice Department officials announced that HSBC, Europe’s largest bank, would pay a $1.92 billion fine after laundering $881 million for drug cartels in Mexico and Colombia. The two regulators, Under Secretary for Terrorism and Financial Intelligence David S. Cohen and Federal Reserve Governor Jerome H. Powell, deflected Warren’s questions, saying that criminal prosecutions are for the Justice Department to decide. An exasperated Warren said, as she wrapped up her questioning, “If you’re caught with an ounce of cocaine, the chances are good you’re going to jail. If it happens repeatedly, you may go to jail for the rest of your life. But evidently, if you launder nearly a billion dollars for drug cartels and violate our international sanctions, your company pays a fine and you go home and sleep in your own bed at night — every single individual associated with this — and I just think that’s fundamentally wrong.”

Note: For deeply revealing reports from reliable major media sources on the collusion between government and finance, click here.




Unrepresentative democracy
2013-03-07, San Francisco Chronicle (SF's leading newspaper)
http://www.sfgate.com/opinion/article/Unrepresentative-democracy-4337889.php

Why are ideas widely supported in most of the country so often portrayed as controversial, polarizing and divisive once they are taken up by legislatures? Why does the professional political class seem like a wholly separate society that does not understand the constituents it is supposed to be representing? These are the questions at the root of America's political dysfunction - and a new study marshaling reams of data finally provides some concrete answers. Conducted by graduate students David Broockman at UC Berkeley and Christopher Skovron at the University of Michigan, the survey of nearly 2,000 legislators from across America documents politicians' perceptions of their constituents' views on hot-button issues like universal health care and same-sex marriage. It then compares them with constituents' views. The juxtaposition reveals a jarring truth: Both Republican and Democratic lawmakers hugely overestimate the conservatism of the very people they are supposed to represent. In all, the report finds that "conservative politicians systematically believe their constituents are more conservative than they actually are by over 20 percentage points, while liberal politicians also typically overestimate their constituents' conservatism by several percentage points." Ultimately, that has resulted in a political system inherently hostile to mainstream proposals and utterly unrepresentative of public opinion. Ensconced in a bubble of conservative-minded corporate lobbyists and mega-donors, they come to wrongly assume that what passes for a mainstream position in that bubble somehow represents consensus in the larger world.




It’s time to tax financial transactions
2013-03-05, Washington Post
http://www.washingtonpost.com/opinions/katrina-vanden-heuvel-its-time-to-tax-...

On Friday at midnight, the sequester kicked in, triggering $85 billion in deep, dumb budget cuts that sent “nonessential personnel”— such as air traffic controllers — packing. Not to worry, though: Wall Street’s day was pretty much like any other. Billions of dollars in profits were made off of trillions of dollars in financial transactions. And the vast majority of those transactions were conducted tax-free. We don’t need a team of policymakers to tell us this isn’t good policy, or that it needs changing. Policymakers propose exactly that: a change. Sens. Tom Harkin (D-Iowa) and Sheldon Whitehouse (D-R.I.), along with Rep. Pete DeFazio (D-Ore.), unveiled a bill that would place a light tax on all financial transactions — three pennies on every $100 traded. It’s so small, Wall Street could easily afford it and the average E-Trade investor would barely notice it. This insignificant tax raises a significant amount of revenue — $352 billion over the next 10 years, or enough to refund about one-third of what the sequester will slash from the federal budget. The high-frequency traders that now dominate our markets would be hardest-hit by the tax. Analysts fear that such mass trading strategies could lead to disaster if markets behave unexpectedly. The new tax would discourage these kinds of trades, which would be a good thing. Europe, at least, seems to agree. Eleven nations, led by the conservative German government, are on track to start collecting the tax by January 2014. Expected revenues: $50 billion per year.

Note: For deeply revealing reports from reliable major media sources on financial corruption, click here.




Food cravings engineered by industry
2013-03-05, CBC News (Canada's public broadcasting company)
http://www.cbc.ca/news/health/story/2013/03/05/f-vp-crowe-food-addiction.html

Pat Guillet is a food addict. She has finally wrestled her addiction under control and now she counsels other food addicts to avoid processed food. "Yeah, just the sight of the packages will trigger cravings," she said. Craving. It doesn't just happen to food addicts. "These companies rely on deep science and pure science to understand how we're attracted to food and how they can make their foods attractive to us," Michael Moss said. The New York Times investigative reporter spent four years prying open the secrets of the food industry’s scientists. "This was like a detective story for me, getting inside the companies with thousands of pages of inside documents and getting their scientists and executives to reveal to me the secrets of how they go at this," he said. What he found became the title of his new book, Salt, Sugar Fat: How the food giants hooked us. "I spent time with the top scientists at the largest companies in this country and it's amazing how much math and science and regression analysis and energy they put into finding the very perfect amount of salt, sugar and fat in their products that will send ... their products flying off the shelves and have us buy more, eat more and …make more money for them."

Note: For deeply revealing reports from reliable major media sources on corporate corruption, click here.




Bitter Pill: Why Medical Bills Are Killing Us
2013-02-20, Time Magazine
http://healthland.time.com/2013/02/20/bitter-pill-why-medical-bills-are-killi...

The Texas Medical Center [is] a nearly 1,300-acre, 280-building complex of hospitals and related medical facilities, of which MD Anderson is the lead brand name. Medicine had obviously become a huge business. In fact, of Houston’s top 10 employers, five are hospitals, including MD Anderson with 19,000 employees. How did that happen? Where’s all that money coming from? And where is it going? I have spent the past seven months trying to find out by analyzing a variety of bills from hospitals like MD Anderson, doctors, drug companies and every other player in the American health care ecosystem. When you look behind the bills that ... patients receive, you see nothing rational — no rhyme or reason — about the costs they faced in a marketplace they enter through no choice of their own. The only constant is the sticker shock for the patients who are asked to pay. Yet those who work in the health care industry and those who argue over health care policy seem inured to the shock. Why exactly are the bills so high? What are the reasons ... that cancer means a half-million- or million-dollar tab? Why should a trip to the emergency room for chest pains that turn out to be indigestion bring a bill that can exceed the cost of a semester of college? What makes a single dose of even the most wonderful wonder drug cost thousands of dollars? Why does simple lab work done during a few days in a hospital cost more than a car? And what is so different about the medical ecosystem that causes technology advances to drive bills up instead of down?

Note: For the amazing answers to all these questions, read this detailed investigative report in its entirety at the link above. For more on corruption in the medical industry, click here.




Monsanto, the court and the seeds of dissent
2013-02-19, Los Angeles Times
http://www.latimes.com/news/opinion/commentary/la-oe-kimbrell-monsanto-suprem...

Should anyone, or any corporation, control a product of life? The journey of a 75-year-old Indiana farmer to the [Supreme Court] began rather uneventfully. Vernon Hugh Bowman purchased an undifferentiated mix of soybean seeds from a grain elevator, planted the seeds and then saved seed from the resulting harvest to replant another crop. Finding that Bowman's crops were largely the progeny of its genetically engineered proprietary soybean seed, Monsanto sued the farmer for patent infringement. The case [Bowman vs. Monsanto Co.] is a remarkable reflection on recent fundamental changes in farming. In the 200-plus years since the founding of this country, and for millenniums before that, seeds have been part of the public domain — available for farmers to exchange, save, modify through plant breeding and replant. Through this process, farmers developed a diverse array of plants that could thrive in various geographies, soils, climates and ecosystems. But today this history of seeds is seemingly forgotten in light of a patent system that, since the mid-1980s, has allowed corporations to own products of life. Although Monsanto and other agrochemical companies assert that they need the current patent system to invent better seeds, the counterargument is that splicing an already existing gene or other DNA into a plant and thereby transferring a new trait to that plant is not a novel invention. A soybean, for example, has more than 46,000 genes. Properties of these genes are the product of centuries of plant breeding and should not, many argue, become the product of a corporation. Instead, these genes should remain in the public domain.

Note: For deeply revealing reports from reliable major media sources on the destructive impacts of genetically modified organisms (GMOs), click here.




Don’t Blink, or You’ll Miss Another Bailout
2013-02-17, New York Times
http://www.nytimes.com/2013/02/17/business/dont-blink-or-youll-miss-another-b...

Many people became rightfully upset about bailouts given to big banks during the mortgage crisis. But it turns out that they are still going on, if more quietly, through the back door. The existence of one such secret deal, struck in July between the Federal Reserve Bank of New York and Bank of America, came to light just last week in court filings. Not only do the filings show the New York Fed helping to thwart another institution’s fraud case against the bank, they also reveal that the New York Fed agreed to give away what may be billions of dollars in potential legal claims. The New York Fed said in a court filing that in July it had released Bank of America from all legal claims arising from losses in some mortgage-backed securities the Fed received when the government bailed out the American International Group in 2008. One surprise in the filing, which was part of a case brought by A.I.G., was that the New York Fed let Bank of America off the hook even as A.I.G. was seeking to recover $7 billion in losses on those very mortgage securities. What did the New York Fed get from Bank of America in this settlement? Some $43 million, it seems, from a small dispute the New York Fed had with the bank on two of the mortgage securities. At the same time, and for no compensation, it released Bank of America from all other legal claims. For zero compensation, the New York Fed released Bank of America from what may be sizable legal claims, knowing that A.I.G. was trying to recover on those claims.

Note: For deeply revealing reports from reliable major media sources on the collusion between regulators and financial corporations, click here.




Senator Elizabeth Warren grills regulators, ending quiet first month in office
2013-02-14, Boston Globe
http://www.boston.com/politicalintelligence/2013/02/14/senator-elizabeth-warr...

After campaigning last year as an outspoken consumer advocate and Wall Street critic, Senator Elizabeth Warren was surprisingly quiet during her first month on Capitol Hill. But that changed on [Feb. 14] at the Massachusetts senior senator’s first hearing, when she rebuked federal regulators for settling civil cases with big banks instead of taking them to trial. Looking at the seven regulators arrayed before the Senate Banking Committee, and noting that she had often sat at the same witness table before becoming a senator, she used her new power to question why the federal government has not been more aggressive. “The question I really want to ask is about how tough you are — about how much leverage you really have,” Warren said. “Tell me a little bit about the last few times you’ve taken the biggest financial institutions on Wall Street all the way to trial.” None of the witnesses — representing the Securities and Exchange Commission, the Commodity Futures Trading Commission and others — offered a response. Warren seized the hearing to chide regulators for not taking legal stands against Wall Street, saying that the threat of trial is an important tool in keeping big banks in line, despite the vast resources required to do so. “If a party is unwilling to go to trial — either because they’re too timid or they lack resources — the consequence is they have a lot less leverage,” Warren said. “If [banks] can break the law and drag in billions in profits and then turn around and settle paying out of those profits, they don’t have that much incentive to follow the law.”

Note: For deeply revealing reports from reliable major media sources on the corrupt regulation of financial activities, click here.




Wild hospital cost disparities revealed
2013-02-11, San Francisco Chronicle/New York Times
ttp://www.sfgate.com/nation/article/Wild-hospital-cost-disparities-revealed-4...

Jaime Rosenthal, a senior at Washington University in St. Louis, called more than 100 hospitals in every state last summer, seeking prices for a hip replacement for a 62-year-old grandmother who was uninsured but had the means to pay herself. Only about half of the hospitals, including top-ranked orthopedic centers and community hospitals, could provide any sort of price estimate, despite repeated calls. Those that could gave quotes that varied by a factor of more than 10, from $11,100 to $125,798. Rosenthal's grandmother was fictitious, created for a summer research project on health care costs. But the findings, which form the basis of a paper released Monday by JAMA Internal Medicine, [highlight] the unsustainable growth of U.S. health care costs and an opaque medical system in which prices are often hidden from consumers. Although many experts have said that Americans must become more discerning consumers to help rein in health care costs, the study illustrates how hard that can be. Researchers emphasized that studies have found little consistent correlation between higher prices and better quality in U.S. health care. Cram said there was no data that "Mercedes" hip implants were better than cheaper options, for example. Jamie Court, the president of Consumer Watchdog in Santa Monica, said: "If one hospital can put in a hip for $12,000, then every hospital should be able to do it." With such immense variation in prices, he said, "There is no real price. It's about profit."

Note: For deeply revealing reports from reliable major media sources on corruption in the health care industry, click here.




Food, drink industries undermine health policy, study finds
2013-02-11, Chicago Tribune/Reuters
http://articles.chicagotribune.com/2013-02-11/lifestyle/sns-rt-us-chronic-dis...

Multinational food, drink and alcohol companies are using strategies similar to those employed by the tobacco industry to undermine public health policies, health experts said. In an international analysis of involvement by so-called "unhealthy commodity" companies in health policy-making, researchers from Australia, Britain, Brazil and elsewhere said self-regulation was failing and it was time the industry was regulated more stringently from outside. The researchers said that through the aggressive marketing of ultra-processed food and drink, multinational companies were now major drivers of the world's growing epidemic of chronic diseases such as heart disease, cancer and diabetes. Writing in The Lancet medical journal, the researchers cited industry documents they said revealed how companies seek to shape health legislation and avoid regulation. This is done by "building financial and institutional relations" with health professionals, non-governmental organizations and health agencies, distorting research findings, and lobbying politicians to oppose health reforms, they said. The researchers [added] that their evidence showed [the] collaborative approach had failed. They recommended that, in the future, food, drinks and tobacco firms should have no role in national or international policies on chronic diseases. Instead, they proposed a system of "public regulation" which they said would focus on directly pressuring industry by "raising awareness of their shady practices and maintaining active public pressure".

Note: For deeply revealing reports from reliable major media sources on corporate corruption, click here.




'Who knew' mortgage defense falling apart
2013-02-07, San Francisco Chronicle (SF's leading newspaper)
http://www.sfgate.com/business/bottomline/article/Who-knew-mortgage-defense-f...

The "who knew?" defense [was] thrown down by financial institutions and their senior executives to ward off accusations that they were somehow responsible for the disaster that befell the country. That defense is now crumbling by the day, thanks in part to their own employees' admissions. Citing internal e-mails, California joined the federal government and 15 other states this week in filing multibillion-dollar civil fraud lawsuits against the nation's leading credit ratings agency, Standard & Poor's, for allegedly deliberately "downplaying and disregarding the true extent of the credit risks" of the financial instruments it had rated as rock-solid. S&P says the charges are "without factual or legal merit," while adding that it, "like everyone else, did not predict the speed and severity of the coming crisis and how credit quality would ultimately be affected." Stack that up against an S&P executive who warned in an internal memo in December 2006, "This market is a wildly spinning top which is going to end badly." Or the 2007 e-mail from an analyst that read, "Job's going great, aside from the fact that the MBS (residential mortgage-backed securities) is crashing." Foreknowledge seemed to be apparent at JPMorgan Chase and Morgan Stanley as well. Internal documents in a lawsuit filed by Dexia SA, a French-Belgian bank, alleging "egregious fraud" by JPMorgan in the sale of $1.7 billion of mortgage-backed bonds, suggested executives at JPMorgan, Bear Stearns and Washington Mutual ... intentionally covered up the unworthiness of the securities they were selling.

Note: For deeply revealing reports from reliable major media sources on the criminal practices of the financial industry, click here.




Rate-Rigging Investigation Rolls On
2013-02-07, New York Times
http://dealbook.nytimes.com/2013/02/07/rate-rigging-investigation-rolls-on/

The global investigation into interest-rate manipulation has emboldened prosecutors to crack down on banks, and the settlement with the Royal Bank of Scotland on [Feb. 6] underscored that strategy. As part of the $612 million deal that American and British authorities reached with R.B.S., the bank’s Japanese unit was required to plead guilty to criminal wrongdoing, echoing an earlier action taken against a subsidiary of UBS. The cases announced so far give other banks some idea of what to expect. Three questions come into play: how much it will cost, whether a guilty plea will be required and whether embarrassing e-mails will be released. The winners in all this may be the lawyers and other advisers. The trove of internal e-mails and employee interviews, filed as part of a lawsuit by one of the investors in the securities, offers a fresh glimpse into Wall Street’s mortgage machine, which churned out billions of dollars of securities that later imploded. The documents reveal that JPMorgan, as well as two firms the bank acquired during the credit crisis, Washington Mutual and Bear Stearns, flouted quality controls and ignored problems, sometimes hiding them entirely, in a quest for profit.

Note: For deeply revealing reports from reliable major media sources on the criminal practices of the financial industry, click here.




Sucker Alert? Insider Selling Surges After Dow 14,000
2013-02-05, CNBC
http://www.cnbc.com/id/100435847

Insiders have been pulling out of stocks just as small investors are getting in. Selling by corporate executives has surged recently as the Dow Jones Industrial Average hit 14,000 and retail investors flooded into stocks. The amount of insider selling has usually preceded market selloffs. "In almost perfect coordination with an equity market that was rushing toward new all-time highs, insider sentiment has weakened sharply — falling to its lowest level since late March 2012," wrote David Coleman of the Vickers Weekly Insider report, one of the longest researchers of executive buying and selling on Wall Street. "Insiders are waving the cautionary flag in an increasingly aggressive manner." There have been more than nine insider sales for every one buy over the past week among NYSE stocks, according to Vickers. The last time executives sold their company's stock this aggressively was in early 2012, just before the S&P 500 went on to correct by 10 percent to its low for the year. "Insiders know more than the vast majority of market participants," said Enis Taner, global macro editor for RiskReversal.com. "And they're usually right over a long period of time." "Insiders (are) showing a remarkable ability of late to identify both market peaks and troughs," states the Vickers report. For selling to be big enough that firms like Vickers raise a bearish flag, the bulls may want to take heed.

Note: For more on this, click here.




Justice Department sues S&P over mortgage bond ratings
2013-02-04, Los Angeles Times
http://www.latimes.com/business/la-fi-sandp-justice-20130205,0,1104883.story

The federal government is ... going after Wall Street's biggest credit rating firm for its role in pumping up the housing bubble. The Justice Department filed a lawsuit [on Feb. 4] against Standard & Poor's Corp. The suit accuses the company's analysts of issuing glowing reviews on troubled mortgage securities whose subsequent failure helped cause the worst financial crisis since the Great Depression. The action marks the first federal crackdown against a major credit rater, and it signals an untested legal tack after limited success in holding the nation's banks accountable for the part they played in the crisis. The government selected Los Angeles as the venue to file the lawsuit in part because it was one of the regions hardest hit when the bottom fell out of the housing market. Hundreds of thousands of California residents lost their homes to foreclosure, and others saw their wealth evaporate as properties plummeted in value. In addition to the Justice Department, several state attorneys general are investigating the ratings agency. States such as California and New York are expected to pursue their own investigations and legal action, people familiar with the matter said. The federal action does not involve any criminal allegations. Critics have complained that the government has yet to send any senior bankers or Wall Street executives to jail for potential illegal behavior that led to the crisis. But civil actions typically require a much lower burden of proof.

Note: For deeply revealing reports from reliable major media sources on the criminal practices of the financial industry, click here.




Doubt Is Cast on Firms Hired to Help Banks
2013-01-31, New York Times
http://dealbook.nytimes.com/2013/01/31/doubt-is-cast-on-firms-hired-to-help-b...

Federal authorities are scrutinizing private consultants hired to clean up financial misdeeds like money laundering and foreclosure abuses, taking aim at an industry that is paid billions of dollars by the same banks it is expected to police. The consultants operate with scant supervision and produce mixed results, according to government documents and interviews with prosecutors and regulators. In one case, the consulting firms enabled the wrongdoing. The deficiencies, officials say, can leave consumers vulnerable and allow tainted money to flow through the financial system. The pitfalls were exposed last month when federal regulators halted a broad effort to help millions of homeowners in foreclosure. The regulators reached an $8.5 billion settlement with banks, scuttling a flawed foreclosure review run by eight consulting firms. In the end, borrowers hurt by shoddy practices are likely to receive less money than they deserve, regulators said. Critics concede that regulators have little choice but to hire outsiders for certain responsibilities after they find problems at the banks. The government does not have the resources to ensure that banks follow the rules. Some banks that work with consultants continue to run afoul of the law. At other times, consultants underestimate the extent of the misdeeds or facilitate them, preventing regulators from holding institutions accountable.

Note: For deeply revealing reports from reliable major media sources on the criminal practices of the financial industry, click here.




Oil supply grows, but so does price
2013-01-25, San Francisco Chronicle (SF's leading newspaper)
http://www.sfgate.com/business/article/Oil-supply-grows-but-so-does-price-422...

Since 2008, oil production in the United States has surged ... 28 percent as the controversial practice of fracking unlocks new supplies in North Dakota and Texas. At the same time, use of oil and petroleum products has fallen 4 percent, as Americans switch to more efficient cars. In theory at least, both of those factors should have pushed the price of crude down. Instead, it's gone up. Since bottoming out during the financial crisis, oil futures traded on the New York Mercantile Exchange have nearly tripled in value, climbing from $33.87 per barrel in December 2008 to roughly $95 this month. Oil still costs substantially more now than it did in 2007, before the recession began. The high price illustrates a brutal truth of today's interconnected world - oil is a global commodity, bought and sold in a global marketplace. Even while demand falls in the United States, it's growing in countries such as China and India. Critics say the price paradox undercuts the oil industry's efforts to drill in more of America's public lands and coastal waters. "It really debunks the myth of 'Drill, baby, drill,' that if we just produce more oil, prices will stay low or go lower," said Michael Marx, director of the Sierra Club's Beyond Oil campaign. Will all that extra petroleum finally mean lower prices? "It's a difficult question to answer, because there's not a one-for-one (relationship) between an increase in production and a decrease in prices," said Doug MacIntyre, director of the Energy Information Administration's office of petroleum statistics. "There are so many other factors."

Note: Though the author refers to "so many other factors," he doesn't even mention greed and corruption which almost everyone knows are rampant. When will the media focus their attention on these fundamental challenges of our world?




The Untouchables: How the Obama administration protected Wall Street from prosecutions
2013-01-23, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/commentisfree/2013/jan/23/untouchables-wall-street-...

PBS' Frontline program on [January 22] broadcast a new one-hour report on one of the greatest and most shameful failings of the Obama administration: the lack of even a single arrest or prosecution of any senior Wall Street banker for the systemic fraud that precipitated the 2008 financial crisis: a crisis from which millions of people around the world are still suffering. What this program particularly demonstrated was that the Obama justice department, in particular the Chief of its Criminal Division, Lanny Breuer, never even tried to hold the high-level criminals accountable. What Obama justice officials did instead is exactly what they did in the face of high-level Bush era crimes of torture and warrantless eavesdropping: namely, acted to protect the most powerful factions in the society in the face of overwhelming evidence of serious criminality. Worst of all, Obama justice officials both shielded and feted these Wall Street oligarchs ... as they simultaneously prosecuted and imprisoned powerless Americans for far more trivial transgressions. As Harvard law professor Larry Lessig put it two weeks ago when expressing anger over the DOJ's persecution of Aaron Swartz: "we live in a world where the architects of the financial crisis regularly dine at the White House." As [documented in the] 2011 book on America's two-tiered justice system, With Liberty and Justice for Some: How the Law Is Used to Destroy Equality and Protect the Powerful, the evidence that felonies were committed by Wall Street is overwhelming.

Note: To watch this highly revealing PBS documentary, click here or here. For deeply revealing reports from reliable major media sources on the collusion between government 'regulators' and the financial powers they 'regulate', click here.




11 EU nations to plan tax on financial transactions
2013-01-22, Los Angeles Times
http://www.latimes.com/news/world/worldnow/la-fg-wn-11-eu-tax-financial-trans...

Pressing ahead where others have balked, 11 European countries received the green light ... to plan a financial transaction tax that could generate billions of dollars in revenue for cash-strapped governments. Led by Germany and France, the European Union’s two heavyweights, the nations will now work out how to introduce a levy on the buying and selling of stocks and bonds and on the use of complex financial instruments known as derivatives. Advocates say such a tax is not only necessary to help discourage risky transactions like those that precipitated the 2008 global financial meltdown but also a fair way to make financial institutions pay to help clean up the leftover mess. The U.S., at the urging of Wall Street, has opposed a financial transaction tax; so has Britain, which is home to Europe’s largest financial trading hub. Hesitation in London as well as some other European capitals stalled a proposal, made in September 2011, to charge a unified financial transaction tax across the 27-nation EU. The 11 countries, all of which share the euro as their currency, decided to forge ahead on their own, deepening integration among a subset of EU members that together account for more than half of the region’s economic output. EU-wide, officials had estimated that a levy of just 0.1% on trades of stocks and bonds and 0.01% on derivatives could bring in $75 billion a year.

Note: For deeply revealing reports from reliable major media sources on the profiteering of an unregulated financial industry, click here.




MoveOn founder, Tea Party figure meet
2013-01-17, San Francisco Chronicle (SF's leading newspaper)
http://www.sfgate.com/politics/joegarofoli/article/MoveOn-founder-Tea-Party-f...

It was a mind-blowing political tableau: a co-founder of liberal bulwark MoveOn sitting in her Berkeley living room, laughing, sharing homemade blueberry scones and occasionally agreeing with a national Tea Party figure. MoveOn's Joan Blades ... and Mark Meckler, ... have been talking online and over the phone for a few years now. Quietly, until now. "Transpartisanship" is the genteel word for what they're doing. Blades has been involved in similar types of projects for about a decade, but this is a fairly new school of political thought, which posits that people can come together to find some common ground without abandoning their core beliefs. The occasion was the latest installment of Living Room Conversations, Blades' latest national transpartisan project that she co-founded with former GOP operative Amanda Kathryn Roman [of] New Jersey. It involves one or two co-hosts pulling together an intimate gathering of folks who might believe they agree on little politically - until they sit down together to listen to one another's perspective. Civilly. Eventually, they find places they agree. That's what happened between Blades and Meckler, and it should give hope to a nation locked in scrums over guns and immigration and taxes. The day's assigned topic was "crony capitalism." It was conservative commentator Ralph Benko who introduced Meckler and Blades online. As Meckler recalled Benko saying, "If MoveOn and the Tea Party ever agree on anything, all politicians should watch out."

Note: What would happen if we focus less on what separates us and more on what brings us together?




Chuck Hagel's Chevron tie not criticized
2013-01-15, San Francisco Chronicle (SF's leading newspaper)
http://www.sfgate.com/business/article/Chuck-Hagel-s-Chevron-tie-not-criticiz...

In his bid to become Secretary of Defense, former Sen. Chuck Hagel has come under fire from both the left and right for his comments on Iraq, Israel and gays. His membership on the board of one of America's largest oil companies, however, has caused barely a stir. Since 2010, Hagel has served on the board of Chevron Corp., a position he would have to leave if he wins Senate confirmation as defense secretary. He received $301,199 in compensation from the San Ramon company in 2011, including $184,000 in stock. Chevron is a major federal contractor, with more than $501 million in sales to the U.S. government in the last fiscal year. But critics of the "revolving door" between the federal government and the private sector haven't raised any complaints about Hagel. That's largely due to the nature of Chevron's federal contracts. Almost all the money Chevron made from the U.S. government in fiscal year 2012 came from selling fuel to the Pentagon, according to a government website that tracks federal spending. Chevron, the nation's second-largest oil company, has a history of politically connected board members. Condoleezza Rice served on the company's board before becoming national security adviser for President George W. Bush. The practice of former federal officials landing jobs with government contractors - and vice versa - has long angered many government watchdogs. They were appalled when Obama, early in his first term, nominated a lobbyist for the Raytheon Corp. to serve as deputy secretary of defense.

Note: US Defense Secretary nominee Chuck Hagel has also been implicated in serious elections manipulations by none other than the New York Times. For more, see this link.





Important 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.


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