Inside the secretive Bilderberg Group
2005-09-29, BBC News
http://news.bbc.co.uk/1/hi/world/americas/4290944.stm

How much influence do private networks of the rich and powerful have on government policies and international relations? One group, the Bilderberg, has often attracted speculation that it forms a shadowy global government. Every year since 1954 [they have brought] together about 120 leading business people and politicians. At this year's meeting in Germany, the audience included the heads of the World Bank and European Central Bank, Chairmen or Chief Executives from Nokia, BP, Unilever, DaimlerChrysler and Pepsi ... editors from five major newspapers, members of parliament, ministers, European commissioners ... and the queen of the Netherlands. The chairman ... is 73-year-old Viscount Etienne Davignon. In an extremely rare interview, he played down the importance of Bilderberg. "I don't think (we are) a global ruling class because I don't think a global ruling class exists." Will Hutton ... who attended a Bilderberg meeting in 1997, says people take part in these networks in order to influence the way the world works, to create what he calls "the international common sense". And that "common sense" is one which supports the interests of Bilderberg's main participants. For Bilderberg's critics the fact that there is almost no publicity about the annual meetings is proof that they are up to no good. Bilderberg meetings often feature future political leaders shortly before they become household names. Bill Clinton went in 1991 while still governor of Arkansas, Tony Blair was there two years later while still an opposition MP. All the recent presidents of the European Commission attended Bilderberg meetings before they were appointed. Informal and private networks like Bilderberg have helped to oil the wheels of global politics and globalisation for the past half a century.

Note: Why is this meeting of top world leaders kept so secret? Why, until a few years ago, was there virtually no reporting on this influential group in the major media? Thankfully, the alternative media has had some good articles. And a Google search can be highly informative. For many other revealing news articles from major media sources on powerful secret societies, click here. And for those interested in exploring reliable information covering the big picture of how and why these secret societies are using government-sponsored mind control programs to achieve their agenda, click here.

How can it be that you pay more to the IRS than General Electric?
2010-04-01, Forbes magazine
http://www.forbes.com/2010/04/01/ge-exxon-walmart-business-washington-corpora...

Some of the world's biggest, most profitable corporations enjoy a far lower tax rate than you do--that is, if they pay taxes at all. The most egregious example is General Electric. Last year the conglomerate generated $10.3 billion in pretax income, but ended up owing nothing to Uncle Sam. In fact, it recorded a tax benefit of $1.1 billion. How did this happen? It's complicated. GE in effect consists of two divisions: General Electric Capital and everything else. The everything else--maker of engines, power plants, TV shows and the like--would have paid a 22% tax rate if it was a standalone company. It's GE Capital that keeps the overall tax bill so low. Over the last two years, GE Capital has displayed an uncanny ability to lose lots of money in the U.S. (posting a $6.5 billion loss in 2009), and make lots of money overseas (a $4.3 billion gain). Not only do the U.S. losses balance out the overseas gains, but GE can defer taxes on that overseas income indefinitely. It's the tax benefit of overseas operations that is the biggest reason why multinationals end up with lower tax rates than the rest of us.

Note: Can you believe that GE not only pays no taxes, they actually get credit from the US government? They ship US jobs overseas and then reap huge tax benefits as a result. What's wrong with this picture? For a wealth of media news articles on the hidden manipulations of major financial corporations, click here.

A New Way to Fight Cancer?
2007-01-23, Newsweek
http://www.newsweek.com/2007/02/22/a-new-way-to-fight-cancer.html

There are no magic bullets in the fight against cancer: that's the first thing every responsible scientist mentions when discussing a possible new treatment, no matter how promising. If there were a magic bullet, though, it might be something like dichloroacetate, or DCA, a drug that kills cancer cells by exploiting a fundamental weakness found in a wide range of solid tumors. So far, though, it kills them just in test tubes and in rats infected with human cancer cells; it has never been tested against cancer in living human beings. DCA ... is an existing drug whose side effects are well-studied and relatively tolerable. Also, it's a small molecule that might be able to cross the blood-brain barrier to reach otherwise intractable brain tumors. Within days after a technical paper on DCA appeared in the journal Cancer Cell last week, the lead author, Dr. Evangelos Michelakis of the University of Alberta, was deluged with calls and e-mails from prospective patients—to whom he can say only, “Hang in there.” DCA is a remarkably simple molecule. It acts in the body to promote the activity of the mitochondria. Researchers have assumed that the mitochondria in cancer cells were irreparably damaged. But Michelakis wondered if that was really true. With his colleagues he used DCA to turn back on the mitochondria in cancer cells—which promptly died. One of the great things about DCA is that it's a simple compound, in the public domain, and could be produced for pennies a dose. But that's also a problem, because big drug companies are unlikely to spend a billion dollars or so on large-scale clinical trials for a compound they can't patent. (Anyone interested in helping can click here)

Note: For a 2010 follow-up by Dr. Michelakis with promising results, click here and watch a 10-minute video at this link. For the DCA website, click here. Thank you Newsweek for this important article. Why haven't any other mass media reported this major story? Why aren't many millions of dollars being poured into research? Notice even Newsweek acknowledges the drug companies are not interested in finding a cure for cancer if they can't make a profit from it. Some suspect the drug companies have even suppressed cancer cures found in the past. For one amazing example of this, click here. More on DCA available here.

Where'd the Bailout Money Go? Shhhh, It's a Secret
2008-12-22, Fox News/Associated Press
http://www.foxnews.com/story/0,2933,470824,00.html

It's something any bank would demand to know before handing out a loan: Where's the money going? But after receiving billions in aid from U.S. taxpayers, the nation's largest banks say they can't track exactly how they're spending the money or they simply refuse to discuss it. "We've lent some of it. We've not lent some of it. We've not given any accounting of, 'Here's how we're doing it,"' said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. "We have not disclosed that to the public. We're declining to." The Associated Press contacted 21 banks that received at least $1 billion in government money and asked four questions: How much has been spent? What was it spent on? How much is being held in savings, and what's the plan for the rest? None of the banks provided specific answers. "We're not providing dollar-in, dollar-out tracking," said Barry Koling, a spokesman for Atlanta, Ga.-based SunTrust Banks Inc., which got $3.5 billion in taxpayer dollars. The answers highlight the secrecy surrounding the Troubled Assets Relief Program, which earmarked $700 billion—about the size of the Netherlands' economy—to help rescue the financial industry. There has been no accounting of how banks spend that money. "It is entirely appropriate for the American people to know how their taxpayer dollars are being spent in private industry," said Elizabeth Warren, the top congressional watchdog overseeing the financial bailout. But, at least for now, there's no way for taxpayers to find that out.

Note: For more key information that the bankers don't want you to know, click here. For many revealing reports from reliable sources on the realities of the Wall Street bailout, click here.

How Independent Are Vaccine Defenders?
2008-07-25, CBS News
http://www.cbsnews.com/stories/2008/07/25/cbsnews_investigates/main4296175.shtml

They're some of the most trusted voices in the defense of vaccine safety: the American Academy of Pediatrics, Every Child By Two, and pediatrician Dr. Paul Offit. But CBS News has found these three have something more in common - strong financial ties to the industry whose products they promote and defend. The vaccine industry gives millions to the Academy of Pediatrics for conferences, grants, medical education classes and even helped build their headquarters. The totals are kept secret, but public documents reveal bits and pieces. A $342,000 payment from Wyeth, maker of the pneumococcal vaccine - which makes $2 billion a year in sales. A $433,000 contribution from Merck, the same year the academy endorsed Merck's HPV vaccine - which made $1.5 billion a year in sales. Every Child By Two, a group that promotes early immunization for all children, admits the group takes money from the vaccine industry, too - but wouldn't tell us how much. Then there's Paul Offit, perhaps the most widely-quoted defender of vaccine safety. He's gone so far as to say babies can tolerate "10,000 vaccines at once." In fact, he's a vaccine industry insider. Offit holds in a $1.5 million dollar research chair at Children's Hospital, funded by Merck. He holds the patent on an anti-diarrhea vaccine he developed with Merck. And future royalties for the vaccine were just sold for $182 million cash.

Note: For powerful evidence presented in major media articles that some vaccines are much more dangerous than the health industry will acknowledge, click here.

Patents Over Patients
2007-04-01, New York Times
http://www.nytimes.com/2007/04/01/opinion/01moss.html

We could make faster progress against cancer by changing the way drugs are developed. In the current system, if a promising compound can’t be patented, it is highly unlikely ever to make it to market — no matter how well it performs in the laboratory. The development of new cancer drugs is crippled as a result. The reason for this problem is that bringing a new drug to market is extremely expensive. In 2001, the estimated cost was $802 million; today it is approximately $1 billion. To ensure a healthy return on such staggering investments, drug companies seek to formulate new drugs in a way that guarantees watertight patents. In the meantime, cancer patients miss out on treatments that may be highly effective and less expensive to boot. In 2004, Johns Hopkins researchers discovered that an off-the-shelf compound called 3-bromopyruvate could arrest the growth of liver cancer in rats. The results were dramatic; moreover, the investigators estimated that the cost to treat patients would be around 70 cents per day. Yet, three years later, no major drug company has shown interest in developing this drug. The hormone melatonin, sold as an inexpensive food supplement in the United States, has repeatedly been shown to slow the growth of various cancers when used in conjunction with conventional treatments. Early this year, another readily available industrial chemical, dichloroacetate, was found by researchers at the University of Alberta to shrink tumors in laboratory animals by up to 75 percent. However ... dichloroacetate is not patentable, and the lead researcher is concerned that it may be difficult to find funding from private investors to test the chemical. Potential anticancer drugs should be judged on their scientific merit, not on their patentability.

Note: To explore several cancer cures which have shown dramatic potential, yet are not being studied for lack of funds due to inability to patent the process, click here. Why are these very promising treatments not being fast-tracked as the expensive AIDS drugs were? For a top MD's revealing comments on this, click here. And for why the media won't feature these promising cancer treatments in headlines, click here.

Enron Schemes Caught On Tape
2005-02-03, CBS News
http://www.cbsnews.com/stories/2005/02/03/eveningnews/main671618.shtml

During the West Coast Power crisis homes went dark and streetlights were out ... causing injuries and accidents. But the danger didn't stop Enron's energy traders from having a good laugh. CBS ... reports on the Enron scheme, as caught on new audio tape. The traders and plant operator laugh and plot in a display that seems to prove the theory that years before the energy crisis, Enron manipulated markets. "They had to do a rolling blackout through the town and there was a red light there he didn't see," one Enron trader says on tape. "That's beautiful," a second voice responds. Enron secretly shut power plants down so they could cause, and then cash in on, the crisis. Enron also pulled power out of states like California, causing emergency conditions to worsen. "Sorry California," an Enron trader says. "I'm bringing all our power out of state today." Plant operators were coached on how to lie to officials. "We want you guys to get a little creative..." one voice says on the tape, "and come up with a reason to go down. Just call 'em, Hey guys…we're coming down." The plant operator replies, "OK, so we're just comin' down for some maintenance?" "Right," the trader says. "And that's cool?" the plant operator asks. "Hopefully," the trader responds, to which the men are heard laughing. Enron also pulled power out of states like California, causing emergency conditions to worsen. The "shut downs" and "pull outs" triggered sky high power prices. "We're just making money hand over fist!" one voice is heard saying on the tape. And when states complained, the guys at Enron seemed to have a response. "Get a f****** clue," one says. "Yeah," another chimes in. "Leave us alone. Let us make a little bit of money."

Note: For an eye-opening two-minute video clip on CBS, watch "Enron Schemers on Tape" at this link. MSNBC also published a revealing article on this. And a New York Times article states "Company officials had long denied that they illegally shut down plants to create artificial shortages. Two months after the recording showed how the Nevada plant was shut down, [Enron CEO Kenneth] Lay called any claims of market manipulation 'conspiracy theories.'" For lots more reliable information on the energy cover-up, click here.

A dangerous dose
2004-09-05, Boston Globe
http://www.boston.com/ae/books/articles/2004/09/05/a_dangerous_dose

Marcia Angell [is] a faculty member at the Harvard Medical School [and one of the] former editors of The New England Journal of Medicine. Her new book, "The Truth About the Drug Companies," is a sober, clear-eyed attack on the excesses of drug company power. How does the drug industry deceive us? It plies attending physicians with expense-paid junkets to St. Croix and Key West, Fla., where they are given honoraria and consulting fees to listen to promotional presentations. It promotes new or little-known diseases such as "social anxiety disorder" and "premenstrual dysphoric disorder" as a way of selling the drugs that treat them. It sets up phony front groups disguised as "patient advocacy organizations." It hires ghostwriters to produce misleading scientific articles and then pays academic physicians to sign on as authors. It sends paid lackeys and shills out onto the academic lecture circuit to ''educate" doctors about a drug's unapproved uses. It hires multinational PR firms to trumpet dubious studies as scientific breakthroughs while burying the studies that are likely to harm sales. It buys up the results of publicly funded research. It maintains a political chokehold on the American public by donating more money to political campaigns than any other industry in the country. For many years the drug industry has reaped the highest profit margins of any industry in America. In 2002, the top 10 American drug companies had profit margins of 17 percent; Pfizer, the largest, had profit margins of 26 percent. So staggeringly profitable is the drug industry that in 2002 the combined profits for the top 10 drug companies in the Fortune 500 were greater than those of all the other 490 companies combined.

Note: For an excellent 10-page summary of this revealing book written by the esteemed author, click here. For additional reliable information on the health cover-up, click here.

Connections And Then Some
2003-03-14, Washington Post
http://www.washingtonpost.com/ac2/wp-dyn?pagename=article&node=&contentId=A25...

The Carlyle Group [is] an investment house famous as one of the most well-connected companies anywhere. Former president George H.W. Bush is a Carlyle adviser. Former British prime minister John Major heads its European arm. Former secretary of state James Baker is senior counselor, former White House budget chief Richard Darman is a partner, former SEC chairman Arthur Levitt is senior adviser -- the list goes on. Those associations have brought Carlyle enormous success. The Washington-based merchant bank controls nearly $14 billion in investments, making it the largest private equity manager in the world. It buys and sells whole companies the way some firms trade shares of stock. But the connections also have cost Carlyle. It has developed a reputation as the CIA of the business world -- omnipresent, powerful, a little sinister. Media outlets from the Village Voice to BusinessWeek have depicted Carlyle as manipulating the levers of government from shadowy back rooms. Congresswoman Cynthia McKinney (D-Ga.) even suggested that Carlyle's and Bush's ties to the Middle East made them somehow complicitous in the Sept. 11 terror attacks. It didn't help that as the World Trade Center burned on Sept. 11, 2001, the news interrupted a Carlyle business conference at the Ritz-Carlton Hotel here attended by a brother of Osama bin Laden. Former president Bush, a fellow investor, had been with him at the conference the previous day. Bush['s] primary function is to give speeches for Carlyle that attract wealthy foreigners in places where the former president is especially revered, such as Asia. The company has rewarded its faithful with a 36 percent average annual rate of return.

Note: If the above link fails, click here. To understand the amazingly powerful role of this low-profile, yet extremely wealthy and influential group, click here to view free a 48-minute documentary shown on Dutch national TV which clearly depicts the depths of corruption and deceit at the highest levels of government. You will be thankful that you watched this highly educational film.

Pipeline politics taint U.S. war
2002-03-18, Chicago Tribune
http://articles.chicagotribune.com/2002-03-18/news/0203180046_1_caspian-talib...

Outside this country, there is a widespread belief that U.S. military deployments in Central Asia mostly are about oil. An article in the Guardian of London headlined, “A pro-western regime in Kabul should give the U.S. an Afghan route for Caspian oil,” foreshadowed the kind of skeptical coverage the U.S. war now receives in many countries. Author George Monbiot ... wrote that the U.S. oil company Unocal Corp. had been negotiating with the Taliban since 1995 to build "oil and gas pipelines from Turkmenistan, through Afghanistan and into Pakistani ports on the Arabian sea." Unocal pulled out of the deal after the 1998 terrorist attacks on U.S. embassies in Kenya and Tanzania were linked to terrorists based in Afghanistan. The terrorist acts of Sept. 11, though tragic, provided the Bush administration a [pretext] to invade Afghanistan, oust the recalcitrant Taliban and, coincidentally, smooth the way for the pipeline. To make things even smoother, the U.S. engineered the rise to power of two former Unocal employees: Hamid Karzai, the new interim president of Afghanistan, and Zalmay Khalizad, the Bush administration’s Afghanistan envoy. [Uri] Averny, a former member of the Israeli Knesset ... argues that the war on terrorism provides a perfect pretext for America’s imperial interests. “If one looks at the map of the big American bases created for the war, one is struck by the fact that they are completely identical to the route of the projected oil pipeline to the Indian Ocean.” No wonder the rest of the world is a bit skeptical about our war on evildoers.

Note: Why do so few people know that these two top officials of Afghanistan were once paid by an American oil company? For important reports from major media sources on the realities of the "war on terror," click here.

Why Almost Everything You Hear About Medicine Is Wrong
2011-01-24, Newsweek
http://www.newsweek.com/2011/01/23/why-almost-everything-you-hear-about-medic...

If you follow the news about health research, you risk whiplash. First garlic lowers bad cholesterol, then—after more study—it doesn’t. Hormone replacement reduces the risk of heart disease in postmenopausal women, until a huge study finds that it doesn’t. But what if wrong answers aren’t the exception but the rule? More and more scholars who scrutinize health research are now making that claim. It isn’t just an individual study here and there that’s flawed, they charge. Instead, the very framework of medical investigation may be off-kilter, leading time and again to findings that are at best unproved and at worst dangerously wrong. The result is a system that leads patients and physicians astray—spurring often costly regimens that won’t help and may even harm you. Even a cursory glance at medical journals shows that once heralded studies keep falling by the wayside. A major study concluded there’s no good evidence that statins (drugs like Lipitor and Crestor) help people with no history of heart disease. The study ... was based on an evaluation of 14 individual trials with 34,272 patients. Cost of statins: more than $20 billion per year. “Positive” drug trials, which find that a treatment is effective, and “negative” trials, in which a drug fails, take the same amount of time to conduct. But negative trials took an extra two to four years to be published. With billions of dollars on the line, companies are loath to declare a new drug ineffective. As a result of the lag in publishing negative studies, patients receive a treatment that is actually ineffective. From clinical trials of new drugs to cutting-edge genetics, biomedical research is riddled with incorrect findings.

Note: For the good of your health, the entire article at the link above is well worth reading. For lots more on how the profit-oriented health profession puts public health at risk, click here and here.

The rich get richer, then buy elections
2010-10-24, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/10/24/IN7R1FV3LE.DTL

It's a perfect storm. I'm talking about the dangers facing our democracy. First, income in America is now more concentrated in fewer hands than it has been in 80 years. Almost a quarter of total income generated in the United States is going to the top 1 percent of Americans. The top one-tenth of 1 percent of Americans now earn as much as the bottom 120 million of us. Who are these people? They're top executives of big corporations and Wall Street, hedge-fund managers and private equity managers. Hundreds of millions of dollars are pouring into advertisements for and against candidates - without a trace of where the dollars are coming from. They're laundered through a handful of groups. Most Americans are in trouble. Their jobs, incomes, savings and even homes are on the line. They need a government that's working for them, not for the privileged and the powerful. Yet their state and local taxes are rising. And their services are being cut. There's no jobs bill to speak of. Washington says nothing can be done. There's no money left. No money? The marginal income tax rate on the very rich is the lowest it has been in more than 80 years. Under President Dwight Eisenhower ... it was 91 percent. Now it's 36 percent. We're losing our democracy to a different system. It's called plutocracy.

Note: Whether you are on the left or right of the political spectrum, this incisive article by former US Sect. of Labor Robert Reich is well worth reading in its entirety. For more in income inequality, click here.

U.S. media have lost the will to dig deep
2007-04-27, Los Angeles Times
http://www.latimes.com/news/opinion/la-oe-palast27apr27,0,5178561.story

In an e-mail uncovered and released by the House Judiciary Committee last month, Tim Griffin, once Karl Rove's right-hand man, gloated that "no [U.S.] national press picked up" a BBC Television story reporting that the Rove team had developed an elaborate scheme to challenge the votes of thousands of African Americans in the 2004 election. Griffin wasn't exactly right. The Los Angeles Times did run a follow-up article. But ... most of the major U.S. newspapers and the vast majority of television news programs ignored the story even though it came at a critical moment just weeks before the election. In fact, not one U.S. newsperson even bothered to ask me or the BBC for the data and research we had painstakingly done. The truth is, I knew that a story like this one would never be reported in my own country [the U.S.], because investigative reporting ... is dying. Again and again, I see this pattern repeated. Back in December 2000, I received two computer disks from the office of Florida Secretary of State Katherine Harris. Analysis of the data ... indicated that Harris' office had purged thousands of African Americans from Florida's voter rolls as "felons." Florida now admits that many of these voters were not in fact felons. Nevertheless, the blacklisting helped cost Al Gore the White House. I reported on the phony felon purge in Britain's Guardian and Observer and on the BBC while Gore was still in the race, while the count was still on. Yet the story of the Florida purge never appeared in the U.S. daily papers or on television ... until months later, that is, after the Supreme Court had decided the election.

Note: The American-born author of this article, BBC reporter Greg Palast, has repeatedly exposed major corruption in the British media, yet the U.S. press often ignores his well-researched stories. For possibly the most amazing story he wrote which got virtually no U.S. media coverage, click here.

The Prophet of Garbage
2007-03-00, Popular Science - March 2007 Issue
http://www.popsci.com/popsci/science/873aae7bf86c0110vgnvcm1000004eecbccdrcrd...

The Plasma Converter ... can consume nearly any type of waste—from dirty diapers to chemical weapons—by annihilating toxic materials in a process ... called plasma gasification. A 650-volt current passing between two electrodes rips electrons from the air, converting the gas into plasma. The plasma arc is so powerful, it disintegrates trash into its constituent elements by tearing apart molecular bonds. The system is capable of breaking down pretty much anything except nuclear waste. The only by-products are an obsidian-like glass [and] a mixture of primarily hydrogen and carbon monoxide that can be converted into a variety of marketable fuels, including ethanol, natural gas and hydrogen. Perhaps the most amazing part of the process is that it’s self-sustaining. Once the cycle is under way, the 2,200°F syngas is fed into a cooling system, generating steam that drives turbines to produce electricity. About two thirds of the power is siphoned off to run the converter; the rest can be used on-site for heating or electricity, or sold back to the utility grid. Even a blackout would not stop the operation of the facility. New York City is already paying an astronomical $90 a ton to get rid of its trash. According to Startech, a few 2,000-ton-per-day plasma-gasification plants could do it for $36. Sell the syngas and surplus electricity, and you’d actually net $15 a ton. But the decision-making bureaucracy can be slow, and it is hamstrung by the politically well-connected waste-disposal industry. Startech isn’t the only company using plasma to turn waste into a source of clean energy. A handful of start-ups—Geoplasma, Recovered Energy, PyroGenesis, EnviroArc and Plasco Energy, among others—have entered the market in the past decade.

Note: Why isn't this amazing, proven machine and technology making front page headlines? Read this exciting article to find how it is already being used. For why you don't know about it, click here. And for another amazing new energy source not yet reported in the major media, click here.

Brazil's alcohol cars hit 2m mark
2006-08-18, BBC News
http://news.bbc.co.uk/2/hi/business/5263384.stm

Brazil's new generation of cars and trucks adapted to run on alcohol has just hit the two-million mark. "Flex-fuel" vehicles, which run on any combination of ethanol and petrol, now make up 77% of the Brazilian market. Brazil has pioneered the use of ethanol derived from sugar-cane as motor fuel. Ethanol-driven cars have been on sale there for 25 years, but they have been enjoying a revival since flex-fuel models first appeared in March 2003. Just 48,200 flex-fuel cars were sold in Brazil in 2003, but the total had reached 1.2 million by the end of last year and had since topped two million, the Brazilian motor manufacturers' association Anfavea said.

Note: With sky-high gasoline prices and the fear of depletion of global oil supplies, why don't such cars exist in the U.S.? Why are the trains of almost every other developed nation far advanced from trains in the U.S.? And why isn't the U.S. media reporting on this important development? For possible answers, click here. The excellent movie Who Killed the Electric Car is also incredibly revealing.

Lockheed and the Future of Warfare
2004-11-28, New York Times
http://www.nytimes.com/2004/11/28/business/yourmoney/28lock.html?ex=125938440...

Lockheed Martin doesn't run the United States. But it does help run a breathtakingly big part of it. Lockheed ... has built a formidable information-technology empire that now stretches from the Pentagon to the post office. It sorts your mail and totals your taxes. It cuts Social Security checks and counts the United States census. It runs space flights and monitors air traffic. Lockheed ... is best known for its weapons. But in the post-9/11 world, Lockheed has become more than just the biggest corporate cog in what Dwight D. Eisenhower called the military-industrial complex. It is increasingly putting its stamp on the nation's military policies. Former Lockheed executives, lobbyists and lawyers hold crucial posts at the White House and the Pentagon, picking weapons and setting policies. War and crisis have been good for business. The company's stock has tripled in the last four years. Lockheed is creating robot soldiers and neural software - "intelligent agents" - to do their work. Israel spends much of the $1.8 billion in annual military aid from the United States to buy F-16 warplanes from Lockheed. Its own executives say the concentration of power among military contractors is more intense than in any other sector of business outside banking. AND, after 9/11 ... cost is essentially irrelevant. Former Lockheed executives serve on the Defense Policy Board ... and the Homeland Security Advisory Council, which help make military and intelligence policy and pick weapons for future battles. Lockheed's board includes E. C. Aldridge Jr. ... the Pentagon's chief weapons buyer.

Note: If the above link fails, click here. To say that "war and crisis have been good for business" is quite an understatement. To read what one of the most highly decorated generals had to say about this, click here.

Money's stranglehold on government is key issue
2011-12-25, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/12/23/INL31ME08J.DTL

Americans have never much liked government. After all, the nation was conceived in a revolution against government. But the surge of cynicism engulfing America isn't about how big government has become. It's a growing perception that our government is no longer working for average people. It's for big business, Wall Street and the very rich. The richest Americans are taking home a bigger share of total income than at any other time since the 1920s. Their tax payments are down because the Bush tax cuts reduced their top rates to the lowest level in more than half a century, and cut capital gains taxes to 15 percent. Congress hasn't even closed a loophole that allows mutual-fund and private-equity managers to treat their incomes as capital gains. So the 400 richest Americans, whose total wealth exceeds the combined wealth of the bottom 150 million Americans put together, pay an average of 17 percent of their income in taxes. That's lower than the tax rates of most day laborers. And the share of revenues coming from corporations has been dropping. The biggest, like GE, find ways to pay no federal taxes at all. Many shelter their income abroad, and every few years Congress grants them a tax amnesty to bring the money home. Get it? "Big government" isn't the problem. The problem is the big money that's taking over government. Government is doing less of the things most of us want it to do ... and more of the things big corporations, Wall Street and the wealthy want it to do.

Note: The author of this analysis, Robert Reich, is a former U.S. secretary of labor, is professor of public policy at UC Berkeley and the author of Aftershock: The Next Economy and America's Future. He blogs at www.robertreich.org.

Derivatives industry eyes UK Lehman appeal ruling
2011-12-14, Reuters News Agency
http://www.reuters.com/article/2011/12/14/britain-derivatives-idUSL6E7NE1YQ20...

Regulators and the world's $700 trillion derivatives industry are closely watching a legal battle that began in Britain ... and which will fuel a sea change in swaps payouts. Four cases, including one involving a unit of collapsed U.S. bank Lehman Brothers, are being presented in a five-day hearing at the UK Court of Appeal. All revolve around payouts under the derivatives industry's "master agreement", a framework contract. A bank that trades swaps with another bank typically has one master agreement which sets the terms for millions of transactions between them. The master agreement ... covers around 90 percent of off-exchange derivatives transactions. Under the agreement, Lehman's bankruptcy is considered a default. However, in the four cases before the court this week, the other party in the contracts elected not to terminate them because they would have had to pay out to the defunct bank.

Note: Like most reporting in the major media, this article trivializes the massive size of the derivatives market. $700 trillion is equivalent to $100,000 for every man, woman, and child in the world! Do you think the financial industry is out of control? For lots more powerful, reliable information on major banking manipulations, click here. For a powerful analysis of just how crazy things have gotten and with some rays of hope by researcher David Wilcock, click here.

Lobbying firm's memo spells out plan to undermine Occupy Wall Street
2011-11-19, MSNBC
http://openchannel.msnbc.msn.com/_news/2011/11/19/8884405-lobbying-firms-memo...

A well-known Washington lobbying firm with links to the financial industry has proposed an $850,000 plan to take on Occupy Wall Street and politicians who might express sympathy for the protests, according to a memo obtained by [MSNBC]. The proposal was written on the letterhead of the lobbying firm Clark Lytle Geduldig & Cranford and addressed to one of CLGC’s clients, the American Bankers Association. CLGC’s memo proposes that the ABA pay CLGC $850,000 to conduct “opposition research” on Occupy Wall Street in order to construct “negative narratives” about the protests and allied politicians. Two of the memo’s authors, partners Sam Geduldig and Jay Cranford, previously worked for House Speaker John Boehner, R-Ohio. The memo outlines a 60-day plan to conduct surveys and research on OWS and its supporters so that Wall Street companies will be prepared to conduct a media campaign in response to OWS. Wall Street companies “likely will not be the best spokespeople for their own cause,” according to the memo. “A big challenge is to demonstrate that these companies still have political strength and that making them a political target will carry a severe political cost.”

Note: For key reports from reliable sources on the reasons why people nationwide are occupying their city centers in protest against the collusion between powerful corporate and government elites, click here.

Abramoff: Lobbying reforms haven't fixed 'flawed' system
2011-11-06, CNN
http://articles.cnn.com/2011-11-06/politics/politics_abramoff-ethics_1_neil-v...

Ethics reforms put in place since the influence-peddling scandal surrounding high-rolling lobbyist Jack Abramoff haven't cleaned up the system "at all," a now-free Abramoff says. Abramoff served three and a half years in prison for conspiracy, fraud and tax evasion before his release last December. In an interview ... on CBS News' "60 Minutes," he said the reforms imposed after his guilty plea have little effect while campaign finance remains untouched. "You can't take a congressman to lunch for $25 and buy him a hamburger or a steak or something like that," he said. "But you can take him to a fund-raising lunch and not only buy him that steak, but give him $25,000 extra and call it a fund-raiser -- and have all the same access and all the same interactions with that congressman." Abramoff's interview with "60 Minutes" aired the night before a memoir, Capitol Punishment, is scheduled to hit shelves. Abramoff describes some of the techniques he employed as a lobbyist as "evil," "terrible" and, at the same time, "effective" for his firm, his clients and Republican politicians he usually worked with. Abramoff said the best way to get what he wanted to was to offer high-ranking congressional aides a job when they left public office. Once that was done, he told CBS, "We owned them." "Everything that we want, they're going to do. Not only that, they're going to think of things we can't think of to do," Abramoff said, estimating his office had "very strong influence" on 100 of the 535 congressional offices.

Note: For a powerful, six-minute analysis of legalized corruption based on Abramoff's comments on CBS 60 Minutes, click here. A petty thief steals three times for a total value of a few thousand dollars and by the "three strikes" law ends up in jail for life. Abramoff, along with his assistants, successfully corrupt U.S. Senators and Congress members and serve less than four years in jail. Some of his assistants got off with no jail time. Is the US justice system biased towards the rich?

Jack Abramoff: The lobbyist's playbook
2011-11-06, CBS News 60 Minutes
http://www.cbsnews.com/8301-18560_162-57319075/jack-abramoff-the-lobbyists-pl...

Jack Abramoff may be the most notorious and crooked lobbyist of our time. He became a master at showering gifts on lawmakers in return for their votes on legislation. Five years ago ... Jack Abramoff pled guilty ... and served three and a half years in prison. Abramoff: I think most congressmen don't feel they're being bought. [They] can in their own mind justify the system. The "best way" to get a congressional office ... was to offer a staffer a job that could triple his salary. The moment I [offered] that to them ... we owned them. Most of the people ... on Capitol Hill wanted ... to be lobbyists. Republican Congressman Bob Ney was ambitious and looked at Abramoff as a way to build alliances with the White House and the majority leader. Neil Volz, his former chief of staff, by then a lobbyist for Abramoff .. asked Ney to insert some language into a reform bill that would give a backdoor license to an Indian casino. Abramoff: We crafted language that was so obscure ... but so precise to change the U.S. code. "Public law 100-89 is amended by striking section 207 101 stat. 668, 672." Members don't read the bills. Ney: It was a great big shell game. Ney would eventually serve 17 months in federal prison, the only congressman who was ever charged. But Abramoff says that there were many other members that did his bidding that could have been charged. Abramoff: I'm talking about giving a gift to somebody who makes a decision on behalf of the public. That's really what bribery is. But it is done everyday. There were very few members who ... didn't at some level participate in that. Our system is flawed and has to be fixed. He says the most important thing that needs to be done is to prohibit members of Congress and their staff from ever becoming lobbyists in Washington.

Note: To watch this incredibly revealing interview, click here. For a powerful, six-minute analysis of legalized corruption based on Abramoff's comments, click here. A petty thief steals three times for a total value of a few thousand dollars and by the "three strikes" law ends up in jail for life. Abramoff, along with his assistants, successfully corrupt U.S. Senators and Congress members and serve less than four years in jail. Many get off with no jail time. Is the US justice system biased towards the rich?

The medieval, unaccountable Corporation of London is ripe for protest
2011-10-31, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/commentisfree/2011/oct/31/corporation-london-city-m...

It's the dark heart of Britain, the place where democracy goes to die, immensely powerful, equally unaccountable. But I doubt that one in 10 British people has any idea of what the Corporation of the City of London is and how it works. As Nicholas Shaxson explains in his fascinating book Treasure Islands, the Corporation exists outside many of the laws and democratic controls which govern the rest of the United Kingdom. The City of London is the only part of Britain over which parliament has no authority. This is ... an official old boys' network. In one respect at least the Corporation acts as the superior body: it imposes on the House of Commons a figure called the remembrancer: an official lobbyist who sits behind the Speaker's chair and ensures that, whatever our elected representatives might think, the City's rights and privileges are protected. The mayor of London's mandate stops at the boundaries of the Square Mile. The City has exploited this remarkable position to establish itself as a kind of offshore state, a secrecy jurisdiction which controls the network of tax havens housed in the UK's crown dependencies and overseas territories. This autonomous state within our borders is in a position to launder the ill-gotten cash of oligarchs, kleptocrats, gangsters and drug barons. It has also made the effective regulation of global finance almost impossible.

Note: To understand how democracy is easily circumvented, read this full article. For lots more from reliable sources on the hidden background to the control over governments held by financial powers, click here.

Citigroup to Pay $285 Million to Settle Fraud Charges
2011-10-20, Wall Street Journal
http://online.wsj.com/article/SB10001424052970204618704576640873051858568.html

Wall Street's total price tag on settlements with U.S. securities regulators for allegedly misleading investors about mortgage bonds churned out ahead of the financial crisis surged past $1 billion with a deal by Citigroup Inc. to pay $285 million ... to end civil-fraud charges by the Securities and Exchange Commission. The SEC claimed Citigroup sold slices of the $1 billion mortgage-bond deal without disclosing to investors that the bank was shorting $500 million of the deal, or betting its assets would lose value. Several Wall Street firms have settled similar claims by the SEC, which has generally stuck to the strategy used by the agency to get a $550 million settlement last year with Goldman Sachs Group Inc.. And the SEC's investigation of the Wall Street mortgage machine isn't over yet. Lorin Reisner, deputy enforcement director at the SEC, said civil mortgage-related cases against Goldman, J.P. Morgan Chase & Co., Countrywide Financial Corp., New Century Financial Corp. and other companies "read like an index to unlawful conduct in connection with the financial crisis." The SEC has collected a total of $1.03 billion through mortgage-bond-deal settlements. In addition to Citigroup, the total includes Goldman, J.P. Morgan, Royal Bank of Canada, Wells Fargo & Co. and Credit Suisse Group AG.

Note: For lots more from major media sources on the illegal profiteering of major financial corporations, click here.

Wall Street Aristocracy Got $1.2 Trillion in Secret Loans
2011-08-22, Businessweek/Bloomberg News
http://www.businessweek.com/news/2011-08-22/wall-street-aristocracy-got-1-2-t...

Citigroup Inc. and Bank of America Corp. were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits. By 2008, the housing market’s collapse forced those companies to take more than six times as much, $669 billion, in emergency loans from the U.S. Federal Reserve. The loans dwarfed the $160 billion in public bailouts the top 10 got from the U.S. Treasury, yet until now the full amounts have remained secret. Fed Chairman Ben S. Bernanke’s [actions] included lending banks and other companies as much as $1.2 trillion of public money, about the same amount U.S. homeowners currently owe on 6.5 million delinquent and foreclosed mortgages. The largest borrower, Morgan Stanley, got as much as $107.3 billion, while Citigroup took $99.5 billion and Bank of America $91.4 billion, according to a Bloomberg News compilation of data obtained through Freedom of Information Act requests, months of litigation and an act of Congress. It wasn’t just American finance. Almost half of the Fed’s top 30 borrowers, measured by peak balances, were European firms. Data gleaned [under the Freedom of Information Act] make clear for the first time how deeply the world’s largest banks depended on the U.S. central bank to stave off cash shortfalls. Even as the firms asserted in news releases or earnings calls that they had ample cash, they drew Fed funding in secret.

Note: For a treasure trove of information from reliable sources on the government transfer of public assets to private banks and financial corporations, click here.

The Fed Audit
2011-07-21, Official Government Website of U.S. Senator Bernie Sanders
http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. Among the [Government Accountability Office] investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. The [report] also determined that the Fed lacks a comprehensive system to deal with conflicts of interest, despite the serious potential for abuse. In fact, according to the report, the Fed provided conflict of interest waivers to employees and private contractors so they could keep investments in the same financial institutions and corporations that were given emergency loans. For example, the CEO of JP Morgan Chase served on the New York Fed's board of directors at the same time that his bank received more than $390 billion in financial assistance from the Fed. The investigation also revealed that the Fed outsourced most of its emergency lending programs to private contractors, many of which also were recipients of extremely low-interest and then-secret loans.

Note: We don't normally use the website of a member of the U.S. Senate as a source, but as amazingly none of the media covered this vitally important story other than one blog on Forbes, we are publishing this here. The GAO report to back up these claims is available for all to see at this link. For how the media is so controlled, don't miss the powerful two-page summary with reports by many award-winning journalists at this link. For another good article on the Fed's manipulations, click here.

Top lobbying banks got biggest bailouts: study
2011-05-26, MSNBC/Reuters News
http://money.msn.com/business-news/article.aspx?feed=OBR&date=20110526&id=136...

The more aggressively a bank lobbied before the financial crisis, the worse its loans performed during the economic downturn -- and the more bailout dollars it received, according to a study published by the National Bureau of Economic Research this week. The report, titled "A Fistful of Dollars: Lobbying and the Financial Crisis," said that banks' lobbying efforts may be motivated by short-term profit gains, which can have devastating effects on the economy. "Overall, our findings suggest that the political influence of the financial industry played a role in the accumulation of risks, and hence, contributed to the financial crisis," said the report, written by three economists from the International Monetary Fund. Data collected by the three authors -- Deniz Igan, Prachi Mishra and Thierry Tressel -- show that the most aggressive lobbiers in the financial industry from 2000 to 2007 also made the most toxic mortgage loans. They securitized a greater portion of debt to pass the home loans onto investors and their stock prices correlated more closely to the downturn and ensuing bailout. The banks' loans also suffered from higher delinquencies during the downturn.

Note: If the above link fails, click here. For lots more from reliable sources on corruption in the government bailouts of the biggest banks, click here.

Food speculation: 'People die from hunger while banks make a killing on food'
2011-01-23, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/global-development/2011/jan/23/food-speculation-ban...

Just under three years ago, people in the village of Gumbi in western Malawi went unexpectedly hungry. Not like Europeans do if they miss a meal or two, but that deep, gnawing hunger that prevents sleep and dulls the senses when there has been no food for weeks. Oddly, there had been no drought, the usual cause of malnutrition and hunger in southern Africa, and there was plenty of food in the markets. For no obvious reason the price of staple foods such as maize and rice nearly doubled in a few months. Unusually, too, there was no evidence that the local merchants were hoarding food. It was the same story in 100 other developing countries. There were food riots in more than 20 countries and governments had to ban food exports and subsidise staples heavily. A new theory is emerging among traders and economists. The same banks, hedge funds and financiers whose speculation on the global money markets caused the sub-prime mortgage crisis are ... taking advantage of the deregulation of global commodity markets [to make] billions from speculating on food and causing misery around the world. As food prices soar again to beyond 2008 levels, it becomes clear that everyone is now being affected. Food prices are now rising by up to 10% a year in Britain and Europe. What is more, says the UN, prices can be expected to rise at least 40% in the next decade.

Note: Remember that speculation is behind almost all of the economic bubbles and busts. The price of oil spiked a couple years ago almost purely because of speculators, while the oil companies raked in record profits. It looks like the speculators are now driving food prices as high as they can. For a treasure trove of reports from reliable sources investigating the many different strategies used by financial corporations to enrich themselves at the expense of common people, click here.

WikiLeaks: US targets EU over GM crops
2011-01-03, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/world/2011/jan/03/wikileaks-us-eu-gm-crops

The US embassy in Paris advised Washington to start a military-style trade war against any European Union country which opposed genetically modified (GM) crops, newly released WikiLeaks cables show. In response to moves by France to ban a Monsanto GM corn variety in late 2007, the ambassador, Craig Stapleton, a friend and business partner of former US president George Bush, asked Washington to penalise the EU and particularly countries which did not support the use of GM crops. "Moving to retaliation will make clear that the current path has real costs to EU interests and could help strengthen European pro-biotech voices," said Stapleton, who with Bush co-owned the St Louis-based Texas Rangers baseball team in the 1990s [and is married to Dorothy Walker, a first cousin of former U.S. president George H.W. Bush]. In other newly released cables, US diplomats around the world are found to have pushed GM crops as a strategic government and commercial imperative. In addition, the cables show US diplomats working directly for GM companies such as Monsanto. It also emerges that Spain and the US have worked closely together to persuade the EU not to strengthen biotechnology laws. In one cable, the embassy in Madrid writes: "If Spain falls, the rest of Europe will follow." The cables show that not only did the Spanish government ask the US to keep pressure on Brussels but that the US knew in advance how Spain would vote, even before the Spanish biotech commission had reported.

Note: For more revealing information on this from Dr. Mercola, click here. For an excellent overview of scientific studies on the risks from genetically-modified foods, click here.

Use of potentially harmful chemicals kept secret under law
2010-01-04, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2010/01/03/AR20100103021...

Of the 84,000 chemicals in commercial use in the United States -- from flame retardants in furniture to household cleaners -- nearly 20 percent are secret, according to the Environmental Protection Agency, their names and physical properties guarded from consumers and virtually all public officials under a little-known federal provision. Under the 1976 Toxic Substances Control Act, manufacturers must report to the federal government new chemicals they intend to market. But the law exempts from public disclosure any information that could harm their bottom line. Government officials, scientists and environmental groups say that manufacturers have exploited weaknesses in the law to claim secrecy for an ever-increasing number of chemicals. In the past several years, 95 percent of the notices for new chemicals sent to the government requested some secrecy, according to the Government Accountability Office. About 700 chemicals are introduced annually. Some companies have successfully argued that the federal government should not only keep the names of their chemicals secret but also hide from public view the identities and addresses of the manufacturers.

Note: So according to this law, the bottom line (profits) trumps public health. For lots more on corporate and government secrecy, click here.

US aid tied to purchase of arms
2010-01-02, Sydney Mountain Herald
http://www.smh.com.au/world/us-aid-tied-to-purchase-of-arms-20100101-llsb.html

Just before Christmas, the US President, Barack Obama, signed into law one of his country's biggest aid pledges of the year. It was bound not for Africa or any of the many struggling countries on the World Bank's list. It was a deal for $US2.77 billion ($3 billion) to go to Israel in 2010 and a total of $US30 billion over the next decade. Israel is bound by the agreement to use 75 per cent of the aid to buy military hardware made in the US. For the first time the US is also providing $US500 million to the Palestinian Authority, including $US100 million to train security forces, under the strict proviso that the authority's leadership recognises Israel. For many years Israel has been the largest recipient of US foreign aid, followed by Egypt ($US1.75 billion), which also receives most of its assistance in tied military aid. The Congressional Research Service says that the US spent 17 per cent of its total aid budget - or $US5.1 billion - on military aid in 2008, of which $US4.7 billion was grants to enable governments to receive equipment from the US.

Note: Israel's population is 7.5 million. If you do the math, the US is providing the equivalent of $4,000 in aid to every man, woman and child in Israel over the next decade, with $3,000 of that to buy US military hardware. For lots more on government-facilitated profiteering in the arms industry, click here and here.

Banks Bundled Bad Debt, Bet Against It and Won
2009-12-24, New York Times
http://www.nytimes.com/2009/12/24/business/24trading.html

Pension funds and insurance companies lost billions of dollars on securities that they believed were solid investments, according to former Goldman employees with direct knowledge of the deals who asked not to be identified because they have confidentiality agreements with the firm. Goldman was not the only firm that peddled these complex securities ... and then made financial bets against them, called selling short in Wall Street parlance. Others that created similar securities and then bet they would fail ... include Deutsche Bank and Morgan Stanley, as well as smaller firms like Tricadia Inc., an investment company whose parent firm was overseen by Lewis A. Sachs, who this year became a special counselor to Treasury Secretary Timothy F. Geithner. How these disastrously performing securities were devised is now the subject of scrutiny by investigators in Congress, at the Securities and Exchange Commission and at the Financial Industry Regulatory Authority. While the investigations are in the early phases, authorities appear to be looking at whether securities laws or rules of fair dealing were violated by firms that created and sold these mortgage-linked debt instruments and then bet against the clients who purchased them, people briefed on the matter say.

Note: So the banks were betting that their own customers would lose money on their products. Hmmmm. For lots of reliable, eye-opening reports on banking secrecy and corruption, click here.

How Goldman secretly bet on the housing crash
2009-11-01, Kansas City Star/McClatchy Newspapers
http://www.kansascity.com/437/story/1542453.html

In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting. Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled one of the nation's premier investment banks to pass most of its potential losses to others before a flood of mortgage loan defaults staggered the U.S. and global economies. Only later did investors discover that what Goldman promoted as triple-A investments were closer to junk. Now, pension funds, insurance companies, labor unions and foreign financial institutions that bought those dicey mortgage securities are facing large losses, and a five-month McClatchy Newspapers investigation has found that Goldman's failure to disclose that it made secret, exotic bets on an imminent housing crash may have violated securities laws. "The Securities and Exchange Commission should be very interested in any financial company that secretly decides a financial product is a loser and then goes out and actively markets that product or very similar products to unsuspecting customers without disclosing its true opinion," said Laurence Kotlikoff, a Boston University economics professor who's proposed a massive overhaul of the nation's big banks. "This is fraud and should be prosecuted."

Note: For an eye-opening, powerful PBS video which reveals how the economic crisis was conscously allowed to happen, click here. It reveals that Fed chairman Alan Greenspan was against investigating any fraud. For many reports from reliable sources on corruption at the core of the Wall Street collapse and bailout, click here.

Affordable Health Care on the Critical List
2009-07-10, PBS Bill Moyers Journal
http://www.pbs.org/moyers/journal/07102009/watch3.html

Quality, affordable health care is on the critical list in America. And so is the newspaper business. So maybe it's not surprising that one of the most powerful papers in the country attempted an unholy alliance, trying to turn a profit from its newsroom's coverage of the fight for health care reform. You may have missed the story because it broke on the eve of the July 4th weekend. The publisher of The Washington Post, Katharine Weymouth — one of the most powerful people in the nation's capital — invited top officials from the White House, the Cabinet and Congress to her home for an intimate, off-the-record dinner to discuss health care reform with some of her reporters and editors covering the story. But she then invited CEOs and lobbyists from the health care industry to come, too — providing they fork over $25,000 a head, or a quarter of a million if they want to sponsor a whole series of these cozy little get-togethers. And what is the inducement she offers them? Nothing less than — and I'm quoting the invitation verbatim — "An exclusive opportunity to participate in the health care reform debate among the select few who will actually get it done." The invitation promises this private, intimate, and off-the-record dinner is an extension "of The Washington Post brand of journalistic inquiry into the issues, a unique opportunity for stakeholders to hear and be heard." Let that sink in. The "stakeholders" in health care reform in this case do not include the rabble — the folks across the country who actually need quality health care but can't afford it. If any of them showed up at the kitchen door on the night of this little soiree, a bouncer would drop kick them beyond the beltway.

Note: To read the complete text, click on the link above and scroll below the video box at the top of the page. For an excellent article on the Washington Post's ties to the CIA and manipulative politics, click here.

Tamiflu Developer: Swine Flu Could Have Come From Bio-Experiment Lab
2009-05-14, ABC News
http://abcnews.go.com/GMA/SwineFlu/story?id=7584420

An Australian researcher claims the swine flu, which has killed at least 64 people so far, might not be a mutation that occurred naturally but a man-made product of genetic experiments accidently leaked from a laboratory -- a theory the World Health Organization is taking very seriously. Adrian Gibbs, a scientist on the team that was behind the development of Tamiflu, says in a report he is submitting today that swine flu might have been created using eggs to grow viruses and make new vaccines, and could have been accidently leaked to the general public. "It might be some sort of simple error that's not being recognized," Gibbs said on ABC's "Good Morning America." In an interview with Bloomberg Television, Gibbs admitted there are other ways to explain swine flu's origin. "One of the simplest explanations if that it's a laboratory escape, but there are lots of others," he said. Regardless of the validity of Gibb's claims, he and several experts say that just bringing the idea of laboratory security to the public's attention is important. "There are lives at risk," Gibbs said. "The sooner this idea gets out, the better."

Note: What would cause one of the developers of Tamiflu to make such a statement? If you read between the lines, there is much more here than meets the eye. For lots more on this intriguing development, click here.

'Bailout psychology' destroying the economy
2009-04-05, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/04/04/INR316Q4F5.DTL

President Obama must stop the bailouts and start the prosecutions. It's time to focus on anti-poverty programs to protect the growing unemployed from hunger and homelessness. Stealth payments to billionaire bondholders must cease immediately. Since the mid-1970s, average Americans' wages have stayed flat when adjusted for inflation. Productivity rose, profits rose, but not wages. To compensate for stagnant wages and the desire to consume more each year, Americans worked more, retired later, spouses went to work, and many burned savings. Then they started borrowing. Debt became America's growth industry. The scheme collapsed because Americans' wages weren't sufficient to pay the interest on existing debts. The administration and the banks keep talking about a credit crisis, but there isn't one. Banks are lending. If you want a mortgage and can afford to pay it back, you can borrow at low rates today. But most Americans don't want more debt because it is a debilitating path to poverty. The average American family already pays 14 percent of annual income in interest to banks. To fix this fake crisis, there are fake discussions about what the government must do. The endlessly recycled plan to buy "troubled" assets isn't to get banks lending again, because they haven't stopped lending. The plan seeks for taxpayers to buy worthless assets at high prices to absorb rich investors' losses. That's it. It keeps coming back as a different plan, but with that same goal. There is no goal beyond that one goal: keep rich people from taking losses.

Note: For an extensive archive of key reports on the hidden realities of the Wall Street bailout, click here.

The $700 trillion elephant
2009-03-06, MarketWatch (Wall Street Journal Digital Network)
http://www.marketwatch.com/news/story/The-700-trillion-elephant-room/story.as...

There's a $700 trillion elephant in the room and it's time we found out how much it really weighs on the economy. Derivative contracts total about three-quarters of a quadrillion dollars in "notional" amounts, according to the Bank for International Settlements. These contracts are tallied in notional values because no one really can say how much they are worth. But valuing them correctly is exactly what we should be doing because these comprise the viral disease that has infected the financial markets and the economies of the world. Try as we might to salvage the residential real estate market, it's at best worth $23 trillion in the U.S. We're struggling to save the stock market, but that's valued at less than $15 trillion. And we hope to keep the entire U.S. economy from collapsing, yet gross domestic product stands at $14.2 trillion. Compare any of these to the derivatives market and you can easily see that we are just closing the windows as a tsunami crashes to shore. The total value of all the stock markets in the world amounts to less than $50 trillion, according to the World Federation of Exchanges. To be sure, the derivatives market is international. But much of the trouble we're in began with contracts "derived" from the values associated with U.S. residential real estate market. These contracts were engineered based on the various assumptions tied to those values. Few know what derivatives are worth. I spoke with one derivatives trader who manages billions of dollars and she said she couldn't even value her portfolio because "no one knows anymore who is on the other side of the trade."

Note: Banks and financial firms deemed "too big to fail" are being bailed out worldwide at taxpayers' expense. But what will happen if losses in the derivatives market skyrocket? No government in the world has the resources to save financial corporations from a collapse in their derivatives trading. For lots more on the realities of the Wall Street bailout, click here.

The Madoff Economy
2008-12-19, New York Times
http://www.nytimes.com/2008/12/19/opinion/19krugman.html?partner=rss&emc=rss&...

The revelation that Bernard Madoff — brilliant investor (or so almost everyone thought), philanthropist, pillar of the community — was a phony has shocked the world, and understandably so. The scale of his alleged $50 billion Ponzi scheme is hard to comprehend. Yet ... how different, really, is Mr. Madoff’s tale from the story of the investment industry as a whole? The financial services industry has claimed an ever-growing share of the nation’s income over the past generation, making the people who run the industry incredibly rich. Yet, at this point, it looks as if much of the industry has been destroying value, not creating it. And it’s not just a matter of money: the vast riches achieved by those who managed other people’s money have had a corrupting effect on our society as a whole. Last year, the average salary of employees in “securities, commodity contracts, and investments” was more than four times the average salary in the rest of the economy. Earning a million dollars was nothing special, and even incomes of $20 million or more were fairly common. The incomes of the richest Americans have exploded over the past generation, even as wages of ordinary workers have stagnated. High pay on Wall Street was a major cause of that divergence. Wall Street’s ill-gotten gains corrupted and continue to corrupt politics, in a nicely bipartisan way. From Bush administration officials ... who looked the other way as evidence of financial fraud mounted, to Democrats who still haven’t closed the outrageous tax loophole that benefits executives at hedge funds and private equity firms ... politicians have walked when money talked. The pay system on Wall Street lavishly rewards the appearance of profit, even if that appearance later turns out to have been an illusion.

Note: This entire, penetrating article is well worth a read at the link above. For many revealing reports from reliable sources on the realities of the Wall Street bailout, click here.

US diluted loan rules before crash
2008-12-01, ABC News/Associated Press
http://abclocal.go.com/wpvi/story?section=news/business&id=6532267

The Bush administration backed off proposed crackdowns on no-money-down, interest-only mortgages years before the economy collapsed, buckling to pressure from some of the same banks that have now failed. It ignored remarkably prescient warnings that foretold the financial meltdown, according to an Associated Press review of regulatory documents. "Expect fallout, expect foreclosures, expect horror stories," California mortgage lender Paris Welch wrote to U.S. regulators in January 2006, about one year before the housing implosion cost her a job. Bowing to aggressive lobbying - along with assurances from banks that the troubled mortgages were OK - regulators delayed action for nearly one year. By the time new rules were released late in 2006, the toughest of the proposed provisions were gone and the meltdown was under way. The administration's blind eye to the impending crisis is emblematic of its governing philosophy, which trusted market forces and discounted the value of government intervention in the economy. Its belief ironically has ushered in the most massive government intervention since the 1930s. Many of the banks that fought to undermine the proposals by some regulators are now either out of business or accepting billions in federal aid to recover from a mortgage crisis they insisted would never come. In 2005, faced with ominous signs the housing market was in jeopardy, bank regulators proposed new guidelines for banks writing risky loans. Those proposals all were stripped from the final rules.

Note: For many revealing reports on the Wall Street bailout from reliable sources, click here.

All Fall Down
2008-11-26, New York Times
http://www.nytimes.com/2008/11/26/opinion/26friedman.html?partner=rss&emc=rss...

I spent Sunday afternoon brooding over a [New York Times] front-page article, entitled ["Citigroup Saw No Red Flags Even as It Made Bolder Bets”]. In searing detail it exposed ... how some of our country’s best-paid bankers were overrated dopes who had no idea what they were selling, or greedy cynics who did know and turned a blind eye. But it wasn’t only the bankers. This financial meltdown involved a broad national breakdown in personal responsibility, government regulation and financial ethics. So many people were in on it: People who had no business buying a home, with nothing down and nothing to pay for two years; people who had no business pushing such mortgages, but made fortunes doing so; people who had no business bundling those loans into securities and selling them to third parties, as if they were AAA bonds, but made fortunes doing so; people who had no business rating those loans as AAA, but made fortunes doing so; and people who had no business buying those bonds and putting them on their balance sheets so they could earn a little better yield, but made fortunes doing so. Citigroup was involved in, and made money from, almost every link in that chain. And the bank’s executives, including ...the former Treasury Secretary Robert Rubin, were ... so ensnared by the cronyism between the bank’s risk managers and risk takers (and so bought off by their bonuses) that they had no interest in stopping it. These are the people whom taxpayers bailed out on Monday to the tune of what could be more than $300 billion.

Note: For many revealing reports on the Wall Street bailout from major media sources, click here.

Treasury gives banks multi-billion tax break windfall
2008-11-11, San Francisco Chronicle/Associated Press
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/11/BUTP141OVI.DTL

Some of the nation's biggest banks are in for a windfall – on top of the $700 billion government bailout – thanks to a new tax policy quietly issued by the Treasury Department. The notice gives big tax breaks to companies that acquire struggling banks hit hard by the mortgage crisis. In some cases, the tax breaks could exceed the cost of acquiring the banks, according to analyses by private tax experts. The change could cost the Treasury as much as $140 billion by enabling firms that acquire struggling banks to use more losses incurred by those banks to offset their own taxable profits. San Francisco's Wells Fargo & Co., which made a bid to acquire Wachovia Corp. just days after the notice was issued, stands to reap about $20 billion in additional tax savings because of the change, according to the analyses. Wells Fargo paid $14.8 billion in a stock deal to buy Wachovia. The notice was issued Sept. 30 as Congress debated the $700 billion bailout plan. Some members of Congress are upset that such a sweeping tax change was issued with no public hearings or congressional input. "I am concerned that the notice, which was never debated by Congress, could end up costing taxpayers tens of billions of more dollars on top of the hundreds of billions of dollars already approved by Congress in the financial rescue plan," Sen. Chuck Schumer, D-N.Y., said in a letter last week to Treasury Secretary Henry Paulson. Some tax lawyers questioned the legality of the notice. Before the notice was issued, the merged bank could write off only a limited amount of the losses. The notice removed those restrictions, enabling the acquiring banks to make huge reductions in their tax liabilities.

Note: With no limitations placed on the nine biggest banks receiving many billions of dollars in bailout money, they are free to buy up smaller banks. And they will likely receive huge tax breaks, sometimes even greater than the purchase price, for doing so! For many revealing, reliable reports on the Wall Street bailout, click here.

New Terrain for Panel on Bailout
2008-11-04, New York Times
http://www.nytimes.com/2008/11/04/business/economy/04bailout.html?partner=rss...

Having been handed vast authority and almost no restrictions in the bailout law that Congress passed ... a committee of five little-known government officials, aided by a bare-bones staff of 40, is picking winners and losers among thousands of banks, savings and loans, insurers and other institutions. It is new and unfamiliar terrain for the officials, who are making monumental decisions — a form of industrial policy, some critics say — that contradict the free market philosophy they usually espouse. Predictably, the process is stirring alarm from Capitol Hill to Wall Street. Among the problems, critics say, is that despite earlier promises of transparency, the process is shrouded in secrecy, its precise goals opaque. Treasury officials have refused to disclose their criteria for deciding which banks ... get money. And officials have yet to say they even have a broader strategy, though banking executives are convinced the government wants to encourage acquisitions. Already, critics from Capitol Hill to Wall Street are lashing out at the program, saying the banks are misusing the capital infusions by hoarding the money rather than lending it. The government, the critics say, is wrongly steering funds to banks to take over weaker rivals. All this comes after Mr. Paulson abruptly shifted the focus of the program to injecting capital rather than buying distressed mortgage-related assets from the banks. This meant that Congress had never debated the details of how the government ought to carry out a recapitalization.

Note: With the intense secrecy and all of the lobbyist and big guns for banking fighting for hundreds of billions of dollars given practically free by the government, do you really think these "five little-known government officials" will be impartial in their decisions? For many revealing, reliable reports on the Wall Street bailout, click here.

So When Will Banks Give Loans?
2008-10-25, New York Times
http://www.nytimes.com/2008/10/25/business/25nocera.html?partner=rssuserland&...

“Chase recently received $25 billion in federal funding. What effect will that have on the business side and will it change our strategic lending policy?” It was Oct. 17, just four days after JPMorgan Chase’s chief executive, Jamie Dimon, agreed to take a $25 billion capital injection courtesy of the United States government, when a JPMorgan employee asked that question [during] an employee-only conference call. The JPMorgan executive who was moderating the employee conference call didn’t hesitate to answer. “What we ... think it will help us do is perhaps be a little bit more active on the acquisition side or opportunistic side for some banks who are still struggling. I think there are going to be some great opportunities for us to grow in this environment, and I think we have an opportunity to use that $25 billion in that way.” Read that answer as many times as you want — you are not going to find a single word in there about making loans to help the American economy. On the contrary: It is starting to appear as if one of Treasury’s key rationales for the recapitalization program — namely, that it will cause banks to start lending again — is a fig leaf, Treasury’s version of the weapons of mass destruction. In fact, Treasury wants banks to acquire each other and is using its power to inject capital to force a new and wrenching round of bank consolidation. Treasury would even funnel some of the bailout money to help banks buy other banks. And, in an almost unnoticed move, it recently put in place a new tax break, worth billions to the banking industry, that has only one purpose: to encourage bank mergers. As a tax expert, Robert Willens, put it: “It couldn’t be clearer if they had taken out an ad.”

Note: Was the real purpose of the "bailout" to strengthen the biggest banks by enabling them to gobble up the smaller ones at the public's expense? No wonder the legislation was rushed through without discussion! For lots more highly revealing reports on the Wall Street bailout, click here.

When Doctors, and Even Santa, Endorsed Tobacco
2008-10-06, New York Times
http://www.nytimes.com/2008/10/07/business/media/07adco.html

People who remember when tobacco advertising was a prominent part of the media landscape ... probably recollect that actors like Barbara Stanwyck and athletes like Mickey Mantle routinely endorsed cigarettes. But how about doctors and other medical professionals, proclaiming the merits of various cigarette brands? Or politicians? Or children? Even Santa Claus? Those images — some flabbergasting, even disturbing — were also used by Madison Avenue to peddle tobacco products. An exhibit ... in New York presents cigarette ads from the 1920s through the early 1950s in an effort to demonstrate what has changed since then — and what may not have. The exhibit is the brainchild of Dr. Robert K. Jackler of the Stanford School of Medicine. “The very best artists and copywriters that money could buy” would work on cigarette accounts, said Dr. Jackler. “This era of over-the-top hucksterism went on for decades,” he added, “and it was all blatantly false.” The genesis of the exhibit was an ad from around 1930 for Lucky Strike cigarettes, which shows a doctor above a headline proclaiming that “20,679 physicians say ‘Luckies are less irritating.’ ” The Luckies doctor was joined in Dr. Jackler’s collection of about 5,000 ads by scores of scientists and medical professionals — doctors, dentists, nurses — making statements that are now known to be patently untrue. Some of the claims being made in the ads, you did not have to be a scientist in a laboratory to dispute ... ads that smoking certain brands “does not cause bad breath” or “can never stain your teeth.”

Note: The Journal of the American Medical Association (JAMA) promoted cigarette ads for 20 years "after careful consideration of the extent to which cigarettes were used by physicians in practice." Will people, even highly respected members of society, bend the truth and even lie when paid enough? This article seems to answer that with a resounding yes. Is that still true today? For excerpts from many highly revealing articles showing it's as true now as ever, click here and here.

Many Firms Didn't Pay Taxes
2008-08-12, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/08/11/AR20080811023...

About two-thirds of corporations operating in the United States did not pay taxes annually from 1998 to 2005, according to a [report] from the U.S. Government Accountability Office. In 2005, after collectively making $2.5 trillion in sales, corporations gave a variety of reasons on their tax returns to account for the absence of taxable revenue. The most frequently listed included the cost of producing their goods, salary expenses and interest payments on their debt, the report said. Sen. Byron L. Dorgan (D-N.D.) called the findings "a shocking indictment of the current tax system." "It's shameful that so many corporations make big profits and pay nothing to support our country," he said. "The tax system that allows this wholesale tax avoidance is an embarrassment and unfair to hardworking Americans who pay their fair share of taxes. We need to plug these tax loopholes and put these corporations back on the tax rolls." In 2005, about 28 percent of large corporations paid no taxes. Of the 1.3 million corporations included in the study, 998 were categorized as "large." Dorgan and Sen. Carl M. Levin (D-Mich.) requested the report out of concern that some corporations were using "transfer pricing" to reduce their tax bills. The practice allows multi-national companies to transfer goods and assets between internal divisions so they can record income in a jurisdiction with low tax rates. Levin said: "This report makes clear that too many corporations are using tax trickery to send their profits overseas and avoid paying their fair share in the United States."

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

Most companies in US avoid federal income taxes
2008-08-12, Business Week/Associated Press
http://www.businessweek.com/ap/financialnews/D92GQ1982.htm

Unlike the rest of us, most U.S. corporations and foreign companies doing business in the United States pay no federal income tax, according to a new report from Congress. The study by the Government Accountability Office ... said two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, and about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period. Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate. "It's shameful that so many corporations make big profits and pay nothing to support our country," said Sen. Byron Dorgan, D-N.D., who asked for the GAO study. The GAO study did not investigate why corporations weren't paying federal income taxes or corporate taxes and it did not identify any corporations by name. More than 38,000 foreign corporations had no tax liability in 2005 and 1.2 million U.S. companies paid no income tax, the GAO said. Combined, the companies had $2.5 trillion in sales. About 25 percent of the U.S. corporations not paying corporate taxes were considered large corporations, meaning they had at least $250 million in assets or $50 million in receipts. The GAO said it analyzed data from the Internal Revenue Service, examining samples of corporate returns for the years 1998 through 2005. For 2005, for example, it reviewed 110,003 tax returns from among more than 1.2 million corporations doing business in the U.S. "It's time for the big corporations to pay their fair share," Dorgan said.

Note: For many revealing reports on corporate corruption from reliable, verifiable sources, click here.

Global Derivatives Market Expands to $516 Trillion
2007-11-22, Bloomberg News
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a58EF32GpHeg

The market for derivatives grew at the fastest pace in at least nine years to $516 trillion in the first half of 2007, the Bank for International Settlements said. Credit-default swaps, contracts designed to protect investors against default and used to speculate on credit quality, led the increase, expanding 49 percent to cover a notional $43 trillion of debt in the six months ended June 30, the BIS said in a report published late yesterday. Derivatives of debt, currencies, commodities, stocks and interest rates rose 25 percent from the previous six months, the biggest jump since the Basel, Switzerland-based bank began compiling the data. Investors have been turning to credit derivatives as a way to speculate on a growing risk of defaults amid record U.S. mortgage foreclosures. The money at risk through credit-default swaps increased 145 percent from last year to $721 billion, the report said. The amount at stake in the entire derivatives market is $11.1 trillion, according to the BIS, which was formed in 1930 to monitor financial markets and regulate banks. Derivatives are financial instruments derived from stocks, bonds, loans, currencies and commodities, or linked to specific events like changes in interest rates or the weather. The report is based on contracts traded outside of exchanges in over-the- counter market.

Note: Like most reporting in the major media, this article trivializes the massive size of the derivatives market. $516 trillion is equivalent to $75,000 for every man, woman, and child in the world! Do you think the financial industry is out of control? For lots more powerful, reliable information on major banking manipulations, click here. For a powerful analysis describing just how crazy things have gotten and giving some rays of hope by researcher David Wilcock, click here.

UCSF study questions drug trial results
2007-06-05, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/06/05/DRUGS.TMP

Money talks -- and very loudly -- when a drug company is funding a clinical trial involving one of its products. UCSF researchers looked at nearly 200 head-to-head studies of widely prescribed cholesterol-lowering medications, or statins, and found that results were 20 times more likely to favor the drug made by the company that sponsored the trial. "We have to be really, really skeptical of these drug-company-sponsored studies," said Lisa Bero, the study's author and professor of clinical pharmacy and health policy studies. The trials typically involved comparing the effectiveness of a drug to one or two other statins. UCSF researchers also found that a study's conclusions -- not the actual research results but the trial investigators' impressions -- are more than 35 times more likely to favor the test drug when that trial is sponsored by the drug's maker. Bero said drug companies fund up to 90 percent of drug-to-drug clinical trials for certain classes of medication. The researchers found other factors that could affect trial results. For example, pharmaceutical companies could choose not to publish results of studies that fail to favor their drugs, or they could be designed in ways to skew results. The study found the most important weakness of trials was lack of true clinical outcome measures. In the case of statins, some trials focused on less-direct results such as lipid levels but failed to connect the results with key outcomes such as heart attacks or mortality. "None of us really care what our cholesterol level is. We care about having a heart attack," Gibson said. "For the drug to be worthwhile taking, it has to be directly related to prevent a heart attack."

Note: For lots more reliable information about corruption in the pharmaceutical industry, click here.

Doctors Reap Millions for Anemia Drugs
2007-05-09, New York Times
http://www.nytimes.com/2007/05/09/business/09anemia.html?ex=1336363200&en=b68...

Two of the world’s largest drug companies are paying hundreds of millions of dollars to doctors every year in return for giving their patients anemia medicines, which regulators now say may be unsafe at commonly used doses. The payments are legal, but very few people outside of the doctors who receive them are aware of their size. The payments give physicians an incentive to prescribe the medicines at levels that might increase patients’ risks of heart attacks or strokes. At just one practice in the Pacific Northwest, a group of six cancer doctors received $2.7 million from Amgen for prescribing $9 million worth of its drugs last year. [A] report prepared by F.D.A. staff scientists said no evidence indicated that the medicines either improved quality of life in patients or extended their survival. Several studies suggested that the drugs can shorten patients’ lives when used at high doses. The medicines ... are among the world’s top-selling drugs. They represent the single biggest drug expense for Medicare. Since 1991 ... the average dose given to dialysis patients in this country has nearly tripled. About 50 percent of dialysis patients now receive enough of the drugs to raise their red blood cell counts above the level considered risky by the F.D.A. Unlike most drugs, the anemia medicines do not come in fixed doses. Therefore, doctors have great flexibility to increase dosing — and profits. The companies have [failed] to test whether lower doses of the medicines might work better than higher doses. There is little evidence that the drugs make much difference for patients with moderate anemia, and federal statistics show that the increased use of the drugs has not improved survival in dialysis patients.

Note: For lots more on major corruption in health care, click here.

Phone cancer report ‘buried’
2007-04-15, The Times (One of the UK's leading newspapers)
http://www.timesonline.co.uk/tol/life_and_style/health/article1655012.ece

T-MOBILE, the mobile phone giant, has been accused of “burying” a scientific report it commissioned that concluded handsets and masts contribute to cancer and genetic damage. The report argued that officially recommended limits on radiation exposure should be cut to 1/1000th of those in force. The suggestion has not been taken up by the company or by regulators. Campaigners claimed T-Mobile’s handling of the report was part of a wider pattern of behaviour by the industry in its efforts to keep discussion of the health risks off the agenda. The Ecolog Institute, which has been researching mobile phone technology since 1992, was paid by T-Mobile to evaluate evidence on its potential dangers. But Dr Peter Neitzke, one of the authors of the report, has accused T-Mobile ... of diluting the findings by commissioning other studies from which it knew “no critical results or recommendations were to be expected”. Ecolog’s report, which analysed dozens of peer-reviewed studies, stated: “Given the results of the present epidemiological studies, it can be concluded that electromagnetic fields with frequencies in the mobile telecommunications range do play a role in the development of cancer. This is particularly notable for tumours of the central nervous system.”

Note: For many highly important articles from reliable sources on major health issues, click here.

Under The Influence
2007-04-02, CBS News
http://www.cbsnews.com/stories/2007/03/29/60minutes/main2625305.shtml

If you have ever wondered why the cost of prescription drugs in the United States are the highest in the world or why it's illegal to import cheaper drugs from Canada or Mexico, you need look no further than the pharmaceutical lobby and its influence in Washington, D.C. Congressmen are outnumbered two to one by lobbyists for an industry that spends roughly a $100 million a year in campaign contributions and lobbying expenses to protect its profits. One reason [drug company] profits have exceeded Wall Street expectations is the Medicare prescription drug bill ... passed three-and-a-half years ago. The unorthodox roll call on one of the most expensive bills ever placed before the House of Representatives began in the middle of the night. The only witnesses were congressional staffers, hundreds of lobbyists, and U.S. Representatives like Dan Burton, R-Ind., and Walter Jones, R-N.C. "The pharmaceutical lobbyists wrote the bill," says Jones. Why did the vote finally take place at 3 a.m.? "They didn't want on national television in primetime," according to Burton. "I've been in politics for 22 years," says Jones, "and it was the ugliest night I have ever seen." Jones says the arm-twisting was horrible. It certainly wasn't ugly for the drug lobby which ... has been a source of lucrative employment opportunities for congressmen when they leave office. In all, at least 15 congressional staffers, congressmen and federal officials left to go to work for the pharmaceutical industry, whose profits were increased by several billion dollars. "They have unlimited resources," Burton says. "And when they push real hard to get something accomplished in the Congress of the United States, they can get it done."

Note: This article also states that the Medicare prescription bill "was the largest entitlement program in more than 40 years, and the debate broke down along party lines." Usually Republicans are against entitlement programs while Democrats support them. Why was it the opposite in this case? Could it be that big industry made huge profits from the passage of this bill? For lots more, click here.

It's still about oil in Iraq
2006-12-08, Los Angeles Times
http://www.latimes.com/news/opinion/la-oe-juhasz8dec08,0,4717508.story

While the Bush administration, the media and nearly all the Democrats still refuse to explain the war in Iraq in terms of oil, the ever-pragmatic members of the Iraq Study Group share no such reticence. Page 1, Chapter 1 ... lays out Iraq's importance: "It has the world's second-largest known oil reserves." The report makes visible to everyone the elephant in the room: that we are fighting, killing and dying in a war for oil. Recommendation No. 63 ... calls on the U.S. to "assist Iraqi leaders to reorganize the national oil industry as a commercial enterprise." This is an echo of calls made [by] the U.S. State Department's Oil and Energy Working Group, meeting between December 2002 and April 2003. Iraq "should be opened to international oil companies as quickly as possible after the war." Its preferred method of privatization was a form of oil contract called a production-sharing agreement. These agreements are ... rejected by all the top oil producers in the Middle East because they grant greater control and more profits to the companies than the governments. For any degree of oil privatization to take place ... Iraq has to amend its constitution. Recommendation No. 26 of the Iraq Study Group calls for a review of the constitution to be "pursued on an urgent basis." Petroleum Economist magazine later reported that U.S. oil companies considered passage of the new oil law more important than increased security. Further, the Iraq Study Group would commit U.S. troops to Iraq for several more years to ... provide security for Iraq's oil infrastructure. We can thank the Iraq Study Group for making its case publicly. It is now our turn to decide if we wish to spill more blood for oil.

Note: For more on corporate complicity in fomenting war exposed by a top U.S. general, click here.

Class Struggle
2006-11-15, Wall Street Journal
http://www.opinionjournal.com/editorial/feature.html?id=110009246

The most important--and unfortunately the least debated--issue in politics today is our society's steady drift toward a class-based system, the likes of which we have not seen since the 19th century. America's top tier has grown infinitely richer and more removed over the past 25 years. Few among them send their children to public schools; fewer still send their loved ones to fight our wars. They own most of our stocks, making the stock market an unreliable indicator of the economic health of working people. The top 1% now takes in an astounding 16% of national income, up from 8% in 1980. The tax codes protect them, just as they protect corporate America, through a vast system of loopholes. Incestuous corporate boards regularly approve compensation packages for chief executives and others that are out of logic's range. As this newspaper has reported, the average CEO of a sizeable corporation makes more than $10 million a year, while the minimum wage for workers amounts to about $10,000 a year, and has not been raised in nearly a decade. When I graduated from college in the 1960s, the average CEO made 20 times what the average worker made. Today, that CEO makes 400 times as much. Trickle-down economics didn't happen. Wages and salaries are at all-time lows as a percentage of the national wealth. This ever-widening divide is too often ignored or downplayed by its beneficiaries. A sense of entitlement has set in among elites, bordering on hubris.

Note: For some reason the Wall Street Journal has removed this article. You can read it on the website of the article's author at this link.

Donald Rumsfeld makes $5m killing on bird flu drug
2006-03-12, Independent (one of the UK's leading newspapers)
http://news.independent.co.uk/world/americas/article350787.ece

The US Defence Secretary has made more than $5m (£2.9m) in capital gains from selling shares in the biotechnology firm that discovered and developed Tamiflu, the drug being bought in massive amounts by Governments to treat a possible human pandemic of the disease. More than 60 countries have so far ordered large stocks of the antiviral medication - the only oral medicine believed to be effective against the deadly H5N1 strain of the disease - to try to protect their people. The United Nations estimates that a pandemic could kill 150 million people worldwide. The drug was developed by a Californian biotech company, Gilead Sciences. Mr Rumsfeld was on the board of Gilead from 1988 to 2001, and was its chairman from 1997. He then left to join the Bush administration, but retained a huge shareholding. The 2005 report showed that, in all, he owned shares worth up to $95.9m, from which he got an income of up to $13m. The firm made a loss in 2003, the year before concern about bird flu started. Then revenues from Tamiflu almost quadrupled, to $44.6m, helping put the company well into the black. Sales almost quadrupled again, to $161.6m last year.

Note: If the above link fails, click here. With both the avian flu and swine flu, top drug companies raked in billions of dollars from sales of medications and vaccines, most of which went unused and have now expired. For many more strange coincidences and facts around the avian and swine flu scares, take a look at our summary of eye-opening news articles available here.

Out of Control: AIDS and the corruption of medical science
2006-03-01, Harper's Magazine
http://harpers.org/archive/2006/03/0080961

HIV tests detect footprints, never the animal itself. These footprints, antibodies ... were limited to two in 1984 ... but over the years expanded to include many proteins previously not associated with HIV. A majority of HIV-positive tests, when retested, come back indeterminate or negative. In many cases, different results emerge from the same blood tested in different labs. There are currently at least eleven different criteria for how many and what proteins at which band density signal “positive.” The most stringent criteria (four bands) are upheld in Australia and France; the least stringent (two bands), in Africa, where an HIV test is not even required as part of an AIDS diagnosis. Africa ... has become ground zero of the AIDS epidemic. The clinical definition of AIDS in Africa, however, is stunningly broad and generic, and was seemingly designed to be little other than a signal for funding. The “Bangui definition” of AIDS ... requires neither a positive HIV test nor a low T-cell count, as in the West, but only the presence of chronic diarrhea, fever, significant weight loss, and asthenia. These happen to be the symptoms of chronic malnutrition, malaria, parasitic infections, and other common African illnesses. The statistical picture of AIDS in Africa, consequently, is a communal projection based on very rough estimates ... extrapolated across the continent using computer models and highly questionable assumptions. More than 2,300 people, mostly scientists and doctors, including Nobelists in chemistry and medicine, have signed the petition of the Group for the Scientific Reappraisal of the HIV-AIDS Hypothesis, which calls for a more independent and skeptical approach to the question of AIDS causality.

Note: If you want to be educated about the details of how rampant corruption has become in the medical research industry, read this well researched article. For a concise description of unbridled corruption in the health care industry by one of the most respected doctors in the world, click here.

Kids Build Soybean-Fueled Car
2006-02-17, CBS News
http://www.cbsnews.com/stories/2006/02/17/eveningnews/main1329941.shtml

The star at last week's Philadelphia Auto Show wasn't a sports car or an economy car. It was a sports-economy car — one that combines performance and practicality under one hood. But as CBS News correspondent Steve Hartman reports in this week's Assignment America, the car that buyers have been waiting decades [for] comes from an unexpected source and runs on soybean bio-diesel fuel to boot. A car that can go from zero to 60 in four seconds and get more than 50 miles to the gallon would be enough to pique any driver's interest. So who do we have to thank for it. Ford? GM? Toyota? No — just Victor, David, Cheeseborough, Bruce, and Kosi, five kids from the auto shop program at West Philadelphia High School. The five kids ... built the soybean-fueled car as an after-school project. It took them more than a year — rummaging for parts, configuring wires and learning as they went. As teacher Simon Hauger notes, these kids weren't exactly the cream of the academic crop. "If you give kids that have been stereotyped as not being able to do anything an opportunity to do something great, they'll step up," he says. Stepping up is something the big automakers have yet to do. They're still in the early stages of marketing hybrid cars while playing catch-up to the Bad News Bears of auto shop. "We made this work," says Hauger. "We're not geniuses. So why aren't they doing it?" Kosi thinks he knows why. The answer, he says, is the big oil companies.

Note: So why isn't this remarkable engine design breakthrough making front page headlines in all major media? Why aren't the many other major energy breakthroughs that have been reported given the headlines they deserve? Could it be that those who are reaping huge profits from oil sales have much more political and media influence than you might imagine? For lots more reliable information on this, click here.

Doctor says bird flu drug is ‘useless’
2005-12-04, London Times
http://www.timesonline.co.uk/article/0,,2091-1903144,00.html

A Vietnamese doctor who has treated dozens of victims of avian flu claims the drug being stockpiled around the world to combat a pandemic is 'useless' against the virus. Dr Nguyen Tuong Van runs the intensive care unit at the Centre for Tropical Diseases in Hanoi and has treated 41 victims of H5N1. Van followed World Health Organisation (WHO) guidelines and gave her patients Tamiflu, but concluded it had no effect. 'We place no importance on using this drug on our patients,' she said. 'Tamiflu is really only meant for treating ordinary type A flu. It was not designed to combat H5N1 . . . (Tamiflu) is useless.' Roche, the company that makes Tamiflu, has sold stockpiles of the drug to 40 countries and insists there is clear evidence it will protect against a future flu virus. However, it stresses the drug must be given within 48 hours to be effective. The WHO admitted Tamiflu had not been widely successful in humans. 'However, we believe in many Asian countries it hasn't been used until late in the illness,' a spokesman said.

Note: Yet hundreds of millions of dollars are being spent to stockpile this drug. It's quite interesting that the former chairman of the board of directors of the company that made Tamiflu is current Secretary of Defense Donald Rumsfeld. Mr. Rumsfeld has had over $5 million in stock gains from the sales of this drug. To read about this and lots more: http://www.WantToKnow.info/avianflu

Refiners Maintain a Firm but Legal Grip on Supplies
2005-06-18, Los Angeles Times
http://www.latimes.com/business/la-fi-calgas18jun18,0,7589520.story

California refiners are simply cashing in on a system that allows a handful of players to keep prices high by carefully controlling supplies. The result is a kind of miracle market in which profits abound, outsiders can't compete and a dwindling cadre of gas station operators has little choice but go along. Refiners "not only control how much supply is in the marketplace, they control who gets it and at what price," said Dennis DeCota, executive director of the California Service Station and Automotive Repair Assn. The recent history of California's fuel industry is a textbook case of how a once-competitive business can become skewed to the advantage of a few, all with the federal government's blessing. Refiners acknowledge their California businesses have become the most profitable in the nation. The rest of the country isn't far behind. Characteristics once unique to California — specialty fuels, a refinery shortage, the growing dominance of a few companies — have begun to plague other gasoline markets.

Deadly Immunity - by Robert F. Kennedy, Jr.
2005-06-16, Common Dreams/Boston Globe
http://www.commondreams.org/views05/0616-31.htm

In June 2000, a group of top government scientists and health officials gathered for a meeting at the isolated Simpsonwood conference center...to ensure complete secrecy. The federal officials and industry representatives had assembled to discuss a disturbing new study that raised alarming questions about the safety of a host of common childhood vaccines administered to infants and young children. A mercury-based preservative in the vaccines -- thimerosal -- appeared to be responsible for a dramatic increase in autism. But instead of taking immediate steps to alert the public and rid the vaccine supply of thimerosal, the officials and executives at Simpsonwood spent most of the next two days discussing how to cover up the damaging data. According to transcripts obtained under the Freedom of Information Act, many at the meeting were concerned about how the damaging revelations about thimerosal would affect the vaccine industry's bottom line. The CDC paid the Institute of Medicine to conduct a new study to whitewash the risks of thimerosal, ordering researchers to "rule out" the chemical's link to autism. Senate Majority Leader Bill Frist, who has received $873,000 in contributions from the pharmaceutical industry, has been working to immunize vaccine makers from liability in 4,200 lawsuits that have been filed by the parents of injured children. More than 500,000 kids currently suffer from autism. The disease was unknown until 1943, when it was identified and diagnosed among 11 children born in the months after thimerosal was first added to baby vaccines in 1931. Internal documents reveal that Eli Lilly, which first developed thimerosal, knew from the start that its product could cause damage -- and even death -- in both animals and humans.

Note: A good, though somewhat watered down version of the above article was published in the Boston Globe on July 1, 2005. To see this article on the Globe website, click here.

Big Pharma snared by net
2004-09-26, The Observer (One of the U.K.'s leading newspapers)
http://observer.guardian.co.uk/business/story/0,,1312765,00.html

No one foresaw ... the shocking extent to which the internet would change the terms of trade between corporations and society. One of the world's largest drug companies [was] the first victim. Britain's GlaxoSmithKline, the world's second-largest pharma, denied any wrongdoing, but agreed to pay $2.5m ... for concealing evidence of its antidepressant Seroxat's potential for harming children, while doing them no measurable good. Infinitely more frightening ... this pharma had the backing of institutions that we, the public, rely on to protect us from poisoning by prescription. The Royal College of Psychiatrists had insisted only a year earlier that 'there is no evidence that antidepressant drugs can cause dependence syndromes'. It was really the internet that allowed public health activists to do an end run around GSK's and the medical authorities' denials of the drug's risks. An explosion of websites dedicated to vivid accounts of antidepressant reactions told these campaigners about hundreds of thousands affected by a problem that officially did not exist. Health activists in Britain and America have uncovered the core of pharma might. In both countries, clinical drug tests are paid for by the pharmas, who tweak the trials' design for the best possible results. Until recently, only the most favourable findings got published in the 20,000-odd biomedical journals, many of them dependent on pharmas for funding. The drugs are approved for marketing by regulators, whose salaries are mostly financed by the subjects of their evaluations. The medicines are then prescribed by doctors routinely courted with pharma gifts ... meant to persuade them to change their prescribing habits.

Note: For a two-page summary with lots more reliable information on major health cover-ups by a doctor who was editor-in-chief of one of the most pretigious medical journals in the world, click here.

Bilderberg: The ultimate conspiracy theory
2004-06-03, BBC News
http://news.bbc.co.uk/1/hi/magazine/3773019.stm

The Bilderberg group, an elite coterie of Western thinkers and power-brokers, has been accused of fixing the fate of the world behind closed doors. As the organisation marks its 50th anniversary, rumours are more rife than ever. On Thursday the Bilderberg group marks its 50th anniversary with the start of its yearly meeting. For four days some of the West's chief political movers, business leaders, bankers, industrialists and strategic thinkers will hunker down in a five-star hotel in northern Italy to talk about global issues. What sets Bilderberg apart from other high-powered get-togethers, such as the annual World Economic Forum (WEF), is its mystique. Not a word of what is said at Bilderberg meetings can be breathed outside. No reporters are invited in and while confidential minutes of meetings are taken, names are not noted. A former journalist, Mr Gosling runs a campaign against the group from his home in Bristol, UK." One of the first places I heard about the determination of US forces to attack Iraq was from leaks that came out of the 2002 Bilderberg meeting," says Mr Gosling.

Steve Wilson Exposes Huge Prescription Drug Price Markups
2004-02-05, WXYZ-TV (Detroit ABC affiliate)
http://web.archive.org/web/20050316092358/http://www.wxyz.com/wxyz/ys_investi...

Generic drugs are just as safe and effective as their brand-name counterparts but they cost only a fraction as much. That is because companies that produce the generic versions simply copy the formula developed by the drug’s inventor years before. While your drugstore charges you less for a generic drug than a brand name version, that price difference is nothing compared to the markup most druggists place on the generics. Your pharmacy most likely paid a wholesale price of only pennies for that generic medicine. They then charge you a markup of 3,000%, 4,000%, even 5,000% or more, pocketing most of your savings. Who’s paying sky-high prices? People who can least afford to get ripped off—the elderly, the unemployed, and everybody who has to pay for their prescription medicine out of their own pocket. At CVS the cost of generic Prozac is marked up at least 56 times what the drug cost wholesale. It is a 5,594% markup. And in our survey of more than a dozen popular generic drugs, CVS leads the pack with average markups of 1,436% Walgreen’s is not far behind at 1,341% and Rite Aid markups on generics average 1,183%. [WXYZ reporter] Steve Wilson took the issue to Kurt Proctor, Vice President of the Association of Chain Drug Stores. "Explain to me why it’s necessary to take an 82 cent product and mark it up to $46.69? You have to mark it up 5,500% to meet your costs to make a profit? This is really about greed, isn’t it?" asked Wilson. "It’s not about greed," responded Proctor. "That’s not accurate at all. That’s a misleading statement. What I hope you will focus on is making sure people use their medications correctly."

Note: This important exposure of price-gouging by pharmacies is still available at Web Archive (click on the link above for the complete article, which is well worth reading in its entirety), but for some reason has been taken down at WXYZ's website. Could it be someone doesn't want us to know about this?

Sex Crimes Cover-Up By Vatican?
2003-08-06, CBS News
http://www.cbsnews.com/stories/2003/08/06/eveningnews/main566978.shtml

For decades, priests in this country abused children in parish after parish while their superiors covered it all up. Now it turns out the orders for this cover up were written in Rome at the highest levels of the Vatican. [A] confidential Vatican document, obtained by CBS News, lays out a church policy that calls for absolute secrecy when it comes to sexual abuse by priests – anyone who speaks out could be thrown out of the church. The policy was written in 1962 by Cardinal Alfredo Ottaviani. The document, once "stored in the secret archives" of the Vatican, focuses on crimes initiated as part of the confessional relationship. Bishops are instructed to pursue these cases "in the most secretive way ... restrained by a perpetual silence ... and everyone (including the alleged victim) ... is to observe the strictest secret, which is commonly regarded as a secret of the Holy Office ... under the penalty of excommunication." Larry Drivon, a lawyer who represents alleged victims, said, “This document is significant because it's a blueprint for deception. It's an instruction manual on how to deceive and how to protect pedophiles ... and exactly how to avoid the truth coming out." Richard Sipe, a former priest who has written about sex abuse and secrecy in the church, said the document sends a chilling message. “You keep it secret at all costs,” Sipe said. “It's happened in every diocese in this country.” According to church records, the document was a bedrock of Catholic sex abuse policy until America's bishops met last summer and drafted new policies to address the crisis in the church.

The people who control the world
2003-01-30, CNN
http://www.cnn.com/2003/SHOWBIZ/books/01/30/ronson.them

The Middle Ages had the Knights Templar. The 18th century had the Masons and the Illuminati. Our modern age has golf-playing businessmen. [Jon] Ronson, a 35-year-old British writer, humorist and documentarian, kept reading and hearing about the "tiny elite [that] rules the world from inside a secret room" -- so he decided to go in search of it. He met with extremists of many stripes: Ku Klux Klansmen with a PR bent, Muslim rabble-rousers ... and others convinced that a New World Order meant the end of the world. He sought out the industrialists of groups such as the Bilderberg Group and Bohemian Grove. He wrote about his experiences in "Them." Ronson's extremists seem rather normal. Some are very much aware of how their views marginalize them. The people of "Them" are people who are all too human -- even if they would deny others their humanity. As the saying goes, just because you're paranoid doesn't mean someone's not out to get you. Ronson doesn't deny that many of the extremists in "Them" are, well, extreme. Many have put together half-baked theories that blame the troubles of the world on wealthy businessmen, usually a code word for Jews. Ronson, who's Jewish himself, sometimes found it awkward to listen to their views. Conspiracy theorists tend to be fearful, less educated, less tied in to the power structure. Meanwhile, the leaders of corporations and countries do meet as part of conferences sponsored by organizations such as the Trilateral Commission and the Bilderberg Group. While researching a Bilderberg Group meeting, [Ronson] was chased through parts of Portugal by shadowy security men. He found out just how thin the membrane between "us" and "them" may be.

Note: Them is by far the most balanced, entertaining book you are likely to find on conspiracy theorists. It pokes a lot of fun both at the conspiracy theorists and at the powerful secret groups which he finds to be deluded almost as much as the conspiracy theorists themselves.

The Man Behind The Vaccine Mystery
2002-12-12, CBS News
http://www.cbsnews.com/stories/2002/12/12/eveningnews/main532886.shtml

It's been a mystery in Washington for weeks. Just before President Bush signed the homeland security bill into law an unknown member of Congress inserted a provision into the legislation that blocks lawsuits against the maker of a controversial vaccine preservative called "thimerosal," used in vaccines that are given to children. Drug giant Eli Lilly and Company makes thimerosal. It's the mercury in the preservative that many parents say causes autism in thousands of children. But nobody in Congress would admit to adding the provision, reports CBS News Correspondent Jim Acosta – until now. House Majority Leader Dick Armey tells CBS News he did it to keep vaccine-makers from going out of business under the weight of mounting lawsuits. "I did it and I'm proud of it," says Armey, R-Texas. "It's a matter of national security," Armey says. Because Armey is retiring at the end of the year, some say the outgoing majority leader is the perfect fall guy to take the heat and shield the White House from embarrassment.

Note: Though this is old news, it is very important news showing how beholden the government is to the powerful drug companies.

Toyota smashes fuel economy record
2002-10-20, London Times
http://www.timesonline.co.uk/article/0,,588-451038,00.html

Tucked away on the Toyota stand you will find a cheeky little coupé that looks sporty but whose raison d’être is fuel economy, the lowest exhaust emissions and ease of recycling. The ES3 — the initials stand for Eco Spirit — achieves 104mpg in the official European fuel consumption tests, a record for a four-seat car. Some months ago I drove this prototype and not only is it even more economical than the special “3 litre” (three litres of fuel for every 100km travelled, or 94mpg) versions of the Audi A2 and VW Lupo that sell in Germany, but the Toyota is more lively and responsive and would be very acceptable as an everyday car. The ES3 has a 1.4 litre turbocharged diesel engine and CVT (continuously variable transmission).

Note: So what happened to this amazing car? Why haven't we heard anything about it since the article was published in 2002? Read the revealing WantToKnow.info article at this link to learn how this amazing car, which was the talk of the fuel economy car industry in 2002, eventually disappeared. And for an excellent essay which provides key information on this topic, including a detailed list of suppressed inventions which greatly improve gasoline mileage reported over the years in respected magazines, click here.

German Firm Probes Final World Trade Center Deals
2001-12-17, Fox News/Reuters
http://www.foxnews.com/story/0,2933,41004,00.html

German computer experts are working round the clock to unlock the truth behind an unexplained surge in financial transactions made just before two hijacked planes crashed into New York's World Trade Center Sept. 11. Were criminals responsible for the sharp rise in credit card transactions that moved through some computer systems at the WTC shortly before the planes hit the twin towers? Or was it coincidence that unusually large sums of money, perhaps more than $100 million, were rushed through the computers as the disaster unfolded? A world leader in retrieving data, German-based firm Convar is trying to answer those questions. Using a pioneering laser scanning technology to find data on damaged computer hard drives and main frames found in the rubble of the World Trade Center and other nearby collapsed buildings, Convar has recovered information from 32 computers that support assumptions of dirty doomsday dealings. "The suspicion is that inside information about the attack was used to send financial transaction commands and authorizations in the belief that amid all the chaos the criminals would have, at the very least, a good head start,'' said Convar director Peter Henschel. "Not only the volume but the size of the transactions was far higher than usual for a day like that. There is a suspicion that these were possibly planned to take advantage of the chaos.''

Note: For a CNN article on this most bizarre news, click here. A German news broadcast from March 11, 2002 at this link reveals that the results are being kept secret. But why? And why hasn't there been any follow-up news on this astounding information? Could it be that key government insiders knew there was going to be an attack? For lots more reliable, verifiable information on 9/11 raising serious questions, click here.

Many Medicines Are Potent Years Past Expiration Dates
2000-03-28, Wall Street Journal
http://online.wsj.com/article/SB954201508530067326.html

Do drugs really stop working after the date stamped on the bottle? Fifteen years ago, the U.S. military decided to find out. Sitting on a $1 billion stockpile of drugs and facing the daunting process of destroying and replacing its supply every two to three years, the military began a testing program to see if it could extend the life of its inventory. The testing, conducted by the U.S. Food and Drug Administration, ultimately covered more than 100 drugs, prescription and over-the-counter. The results ... show that about 90% of them were safe and effective far past their original expiration date, at least one for 15 years past it. The program's returns have been huge. The military from 1993 through 1998 spent about $3.9 million on testing and saved $263.4 million on drug expense. In light of these results, a former director of the testing program, Francis Flaherty, says he has concluded that expiration dates put on by manufacturers typically have no bearing on whether a drug is usable for longer. "Manufacturers put expiration dates on for marketing, rather than scientific, reasons," says Mr. Flaherty, a pharmacist at the FDA until his retirement last year. "They want turnover." Joel Davis, a former FDA expiration-date compliance chief, says that with a handful of exceptions - notably nitroglycerin, insulin and some liquid antibiotics - most drugs are probably as durable as those the agency has tested for the military. "Most drugs degrade very slowly," he says. "In all likelihood, you can take a product you have at home and keep it for many years." Drug-industry officials ... acknowledge that expiration dates have a commercial dimension.

Note: As the Wall Street Journal charges to view this article at the above link, you can view it free here. For lots more on how the pharmaceutical industry cares more about profits than your health, click here.

Ford Sees Wealth in Muscle Shoals: Edison Backs Him Up
1921-12-06, New York Times
http://query.nytimes.com/mem/archive-free/pdf?_r=3&res=9C04E0D7103EEE3ABC4E53...

Henry Ford [is] convinced that if Congress will complete and lease to him the water-power developments [at Muscle Shoals], he can make this whole section of the South more prosperous. Thomas A. Edison indorsed Mr. Ford’s views. He is very earnest in his support of Ford’s [proposal] to finance Muscle Shoals by an issue of currency ... directly by the Government. "If our nation can issue a dollar bond, it can issue a dollar bill," said Mr. Edison. "[When Congress authorizes] an issue of bonds, it must go out to the money brokers. We then must pay interest to the money brokers for the use of our own money. In all our great bond issues, the interest is always greater than the principal. All of the great public works cost more than twice the actual cost on that account. The difference between the bond and the bill is that the bond lets the money brokers collect twice the amount of the bond ... whereas the currency pays nobody but those who directly contribute. Both are promises to pay: but one promise fattens the usurer, and the other helps the people. It is the money broker, the money profiteer, the private banker, that I oppose. It is a terrible situation when the Government ... must go into debt and submit to ruinous interest charges at the hands of men who control the [issuance of currency]. The people must pay any way: why should they be compelled to pay twice as the bond system compels them? [If] Government will adopt this policy of increasing its national wealth without contributing to the interest collector ... you will see an era of progress and prosperity in this country such as could never have come otherwise.” Mr. Edison reiterated his belief [that if] the currency method is tried in raising money for public improvements, the country will never go back to the borrow method.

Note: If the above link fails, you can read the a copy of the full, fascinating article at this link or this one. The entire article contains lots of amazing revelations of how big bankers keep us in debt. How fascinating that Ford and Edison, both ultra-wealthy businessmen, here are arguing strongly against the privately owned Federal Reserve system through which private bankers print US money and charge interest on it, and for the US government printing its own money. This would avoid US citizens having to pay the big bankers all of the interest on much of the national debt. For lots of evidence to support this way of thinking, click here.

Wall Street shenanigans fuel public distrust
2011-12-18, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/12/17/IN5N1MBT60.DTL

Wall Street is its own worst enemy. It's busily shredding new regulations and making the public more distrustful than ever. The Street's biggest lobbying groups have just filed a lawsuit against the Commodities Futures Trading Commission, seeking to overturn its new rule limiting speculative trading in food, oil and other commodities. The Street makes bundles from these bets, but they have raised costs for consumers. In other words, a small portion of what you and I pay for food and energy has been going into the pockets of Wall Street. Just another redistribution from the middle class and the poor to the top. The Street argues that the commission's cost-benefit analysis wasn't adequate. Putting the question into the laps of federal judges gives the Street a huge tactical advantage because the Street has almost an infinite amount of money to hire so-called "experts" who will say benefits have been exaggerated and costs underestimated. But when it comes to regulating Wall Street, one big cost doesn't make it into any individual weighing: the public's mounting distrust of the entire economic system, generated by the Street's repeated abuse of the public's trust. Wall Street's shenanigans have convinced a large portion of America that the economic game is rigged. Wall Street has blanketed America in a miasma of cynicism.

Note: The author of this analysis, Robert Reich, is a former U.S. secretary of labor, is professor of public policy at UC Berkeley and the author of Aftershock: The Next Economy and America's Future. He blogs at www.robertreich.org.

Congress: Trading stock on inside information?
2011-11-13, CBS News 60 Minutes
http://www.cbsnews.com/8301-18560_162-57323527/congress-trading-stock-on-insi...

Washington, D.C. is a town that runs on inside information - but should our elected officials be able to use that information to pad their own pockets? Members of Congress and their aides have regular access to powerful political intelligence, and many have made well-timed stock market trades in the very industries they regulate. For now, the practice is perfectly legal, but some say it's time for the law to change. Few of them are doing it for the salary and all of them will say they are doing it to serve the public. But there are other benefits: Power, prestige, and the opportunity to become a Washington insider with access to information and connections that no one else has, in an environment of privilege where rules that govern the rest of the country, don't always apply to them. Most former congressmen and senators manage to leave Washington - if they ever leave Washington - with more money in their pockets than they had when they arrived. Congressional lawmakers have no corporate responsibilities and have long been considered exempt from insider trading laws, even though they have daily access to non-public information and plenty of opportunities to trade on it.

Note: According to a New York Times article, U.S. "Senators' stocks beat the market by 12 percent," while "the average household's portfolio underperformed the market by 1.44 per cent a year." To watch this revealing 15-minute piece on CBS 60 Minutes, click here. For key reports from reliable sources on government corruption, click here.

BofA Said to Split Regulators Over Moving Merrill Contracts
2011-10-18, Bloomberg/Businessweek
http://www.businessweek.com/news/2011-10-18/bofa-said-to-split-regulators-ove...

Bank of America Corp., hit by a credit downgrade last month, has moved derivatives from its Merrill Lynch unit to a subsidiary flush with insured deposits. Derivatives are financial instruments used to hedge risks or for speculation. They’re derived from stocks, bonds, loans, currencies and commodities, or linked to specific events such as changes in the weather or interest rates. Keeping such deals separate from FDIC-insured savings has been a cornerstone of U.S. regulation for decades, including last year’s Dodd-Frank overhaul of Wall Street regulation. Three years after taxpayers rescued some of the biggest U.S. lenders, regulators are grappling with how to protect FDIC-insured bank accounts from risks generated by investment-banking operations. “The concern is that there is always an enormous temptation to dump the losers on the insured institution,” said William Black, professor of economics and law at the University of Missouri-Kansas City and a former bank regulator. “We should have fairly tight restrictions on that.” Bank of America’s holding company -- the parent of both the retail bank and the Merrill Lynch securities unit -- held almost $75 trillion of derivatives at the end of June. That compares with JPMorgan’s deposit-taking entity, JPMorgan Chase Bank NA, which contained 99 percent of the New York-based firm’s $79 trillion of notional derivatives.

Note: Remember that the GDP of the entire world is estimated at around $60 trillion, less than JPMorgan or BofA own in derivatives. For an excellent article laying out the incredible risk this creates of a major economic collapse, click here. For more on the high risk and cost to taxpayers of BofA moving its massive amount of derivatives to its subsidiary, click here. For lots more from major media sources on the illegal profiteering of major financial corporations enabled by lax government regulation, click here.

Report: Pentagon doesn't know where the money is going
2011-10-13, MSNBC
http://openchannel.msnbc.msn.com/_news/2011/10/13/8294595-report-pentagon-doe...

The Defense Department, which has promised to publish a reliable account of how it spends its money by 2017, has discovered that its financial ledgers are in worse shape than expected and that it will have to spend billions of dollars in the coming years to make its financial accounting credible, the Center for Public Integrity reported [on October 13]. The U.S. military has spent more than $6 billion to develop and deploy new financial systems, but the effort has been plagued by significant added overruns and delays, defense officials told the CPI, a nonprofit investigative news organization. The Government Accountability Office said in a report last month that although the services can now fully track incoming appropriations, they still can't demonstrate that their funds are being spent as they should be. The Pentagon’s bookkeeping has come under increased scrutiny as Congress and the Obama administration have vowed to reduce the federal deficit. The department could face substantial cutbacks if a special bipartisan "supercommittee" can’t agree on a formula for reducing the deficit.

Note: For an essay by a top U.S. general revealing how wars are used to bring huge profits to the powerful elite of our world, click here. For lots more from reliable sources on government corruption, click here.

Study: Top CEOs earned more than companies paid in tax
2011-09-01, Chicago Tribune/Reuters
http://www.chicagotribune.com/business/ct-biz-0901-ceo-pay-20110901,0,261944....

Twenty-five of the 100 highest-paid U.S. CEOs earned more last year than their companies paid in federal income tax, a pay study by a Washington think tank said [on August 31]. The Institute for Policy Studies said it also found many of the companies spent more on lobbying than they did on taxes. The institute compared CEO pay with current U.S. taxes paid, excluding foreign, state and local taxes that may have been paid, as well as deferred taxes, which can often be far larger than current taxes paid. The group's rationale was that U.S. taxes paid are the closest approximation in public documents to what companies may have actually written a check for last year. It said deferred taxes may or may not be paid. Among the companies topping the IPS list: •EBay, whose CEO John Donahoe made $12.4 million, but which reported a $131 million refund on its 2010 current U.S. taxes. •Boeing, which paid CEO Jim McNerney $13.8 million, sent in $13 million in federal income taxes and spent $20.8 million on lobbying and campaign spending. •General Electric, where CEO Jeff Immelt earned $15.2 million in 2010, while the company got a $3.3 billion federal refund and invested $41.8 million in its own lobbying and political campaigns.

Note: For lots more on corporate corruption from major media sources, click here.

SEC accused of dumping records
2011-08-17, Washington Post
http://www.washingtonpost.com/business/economy/sec-accused-of-dumping-records...

The SEC has violated federal law by destroying the records of thousands of enforcement cases in which it decided not to file charges against or conduct full-blown investigations of Wall Street firms and others initially suspected of wrongdoing, a former agency official has alleged. The purged records involve major firms such as Goldman Sachs, Citigroup, Bank of America, Morgan Stanley and hedge-fund manager SAC Capital. At issue were suspicions of actions such as insider trading, financial fraud and market manipulation. A file closed in 2002 involved Lehman Brothers, the investment bank whose collapse fueled the financial meltdown of 2008, according to the former official. A file closed in 2009 involved suspected insider trading in securities related to American International Group, the insurance giant bailed out by the government at the height of the financial crisis. The allegations were leveled in a July letter to Sen. Charles E. Grassley (R-Iowa) from Gary J. Aguirre, a former SEC enforcement lawyer now representing a current SEC enforcement lawyer, Darcy Flynn. Flynn last year began managing SEC enforcement records and became concerned that records that were supposed to be preserved under federal law were being purged as a matter of SEC policy, Aguirre wrote.

Note: For more on this important news by Rolling Stone's Matt Taibbi, click here. For lots more from reliable sources on the criminal practices of Wall Street corporations which led to global economic recession and massive government bailouts, click here.

Revealed: British government's plan to play down Fukushima
2011-06-30, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/environment/2011/jun/30/british-government-plan-pla...

British government officials approached nuclear companies to draw up a co-ordinated public relations strategy to play down the Fukushima nuclear accident just two days after the earthquake and tsunami in Japan and before the extent of the radiation leak was known. Internal emails seen by the Guardian show how the business and energy departments worked closely behind the scenes with the multinational companies EDF Energy, Areva and Westinghouse to try to ensure the accident did not derail their plans for a new generation of nuclear stations in the UK. "This has the potential to set the nuclear industry back globally," wrote one official at the Department for Business, Innovation and Skills (BIS), whose name has been redacted. "We need to ensure the anti-nuclear chaps and chapesses do not gain ground on this. We need to occupy the territory and hold it. We really need to show the safety of nuclear." Officials stressed the importance of preventing the incident from undermining public support for nuclear power. Louise Hutchins, a spokeswoman for Greenpeace, said the emails looked like "scandalous collusion". "This highlights the government's blind obsession with nuclear power and shows neither they, nor the industry, can be trusted when it comes to nuclear," she said.

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

U.S. nuke regulators weaken safety rules
2011-06-20, CBS News/Associated Press
http://www.cbsnews.com/stories/2011/06/20/national/main20072497.shtml

Federal regulators have been working closely with the nuclear power industry to keep the nation's aging reactors operating within safety standards by repeatedly weakening those standards, or simply failing to enforce them, an investigation by The Associated Press has found. Time after time, officials at the U.S. Nuclear Regulatory Commission have decided that original regulations were too strict, arguing that safety margins could be eased without peril. The result? Rising fears that these accommodations by the NRC are significantly undermining safety — and inching the reactors closer to an accident that could harm the public. Examples abound. When valves leaked, more leakage was allowed — up to 20 times the original limit. When rampant cracking caused radioactive leaks from steam generator tubing, an easier test of the tubes was devised, so plants could meet standards. Failed cables. Busted seals. Broken nozzles, clogged screens, cracked concrete, dented containers, corroded metals and rusty underground pipes — all of these and thousands of other problems linked to aging were uncovered. Not a single official body in government or industry has studied the overall frequency and potential impact on safety of such breakdowns in recent years, even as the NRC has extended the licenses of dozens of reactors.

Note: Read this detailed report in its entirety to see the amazing range of serious problems in the US nuclear industry which have systematically been covered up by the NRC. For lots more from reliable sources on government and corporate corruption, click here and here.

Tepco confirms meltdowns at 2 more Fukushima reactors
2011-05-24, MSNBC/Reuters News
http://today.msnbc.msn.com/id/43145372/ns/world_news-asia_pacific/

The operator of the nuclear power plant at the center of a radiation scare after being disabled by Japan's earthquake and tsunami confirmed ... that there had been meltdowns of fuel rods at three of its reactors. Tokyo Electric Power Co said meltdowns of fuel rods at three reactors at the Fukushima Daiichi plant occurred early in the crisis triggered by the March 11 disaster. The government and outside experts had said previously that fuel rods at three of the plant's six reactors had likely melted early in the crisis, but the utility, also known as Tepco, had only confirmed a meltdown at the No.1 reactor. Tepco officials said a review since early May of data from the plant concluded the same happened to reactors No.2 and 3. Some analysts said the delay in confirming the meltdowns at Fukushima suggested the utility feared touching off a panic by disclosing the severity of the accident earlier. "Now people are used to the situation. Nothing is resolved, but normal business has resumed in places like Tokyo," said Koichi Nakano, a political science professor at Tokyo's Sophia University. Nakano said that by confirming the meltdowns now, Tepco may be hoping the news will have less impact.

Note: Very few major media have given TEPCO's confirmation of the world's worst fears about the severity of the Fukushima nuclear disaster the attention it deserves. Are the major media burying this story because of the potential harm it will do to plans for the expansion of the nuclear power industry?

Goldman Sachs faces contentious AGM
2011-05-06, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/business/2011/may/06/goldman-sachs-set-contentious-agm

Goldman Sachs is bracing itself for what may be the most contentious annual meeting in the embattled investment bank's 142-year history. Angry shareholders, including a coalition of religious groups, are planning to call on Goldman's executives to justify the combined $69.6m (£42.4m) payday its top five executives received in 2010 and to answer questions about allegations that the bank misled clients and lied to Congress. The meeting comes amid mounting pressure on the bank. Earlier this week Eric Holder, the US attorney-general, confirmed that the justice department was investigating Goldman's role in the financial crisis following a withering report on the bank's role led by senators Carl Levin and Tom Coburn. The 650-page report "Wall Street and the Financial Crisis: Anatomy of a Financial Collapse," gave Goldman its own section titled "Failing to Manage Conflicts of Interest: A Case Study of Goldman Sachs." In July the bank paid $500m to settle charges brought by financial regulator the Securities and Exchange Commission (SEC) that it misled customers over complex sub-prime mortgage products it sold in 2007. The spotlight on executive pay could not come at a more sensitive moment for the bank. The bank's top five executives received cash and stock last year that was 13 times greater than the year before. Goldman's 2010 net revenues fell 13% and profits fell 37%. Goldman paid Blankfein close to $19m in compensation for 2010, almost double his award for the previous year.

Note: For lots more on the financial chicanery of Goldman Sachs and other major financial corporations that led to the global economic crisis and massive taxpayer bailouts of the firms, click here.

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

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

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

Unfair investment practices by wives of business bigs
2011-04-12, New York Daily News
http://articles.nydailynews.com/2011-04-12/gossip/29426543_1_matt-taibbi-stud...

Christy Mack, the wife of Morgan Stanley Chairman John Mack, and Susan Karches, the widow of the company's former investment-banking division president, Peter Karches, are among the chief investors in a company that received $220 million in low-interest loans. The funds came from a federal bailout program that "virtually guaranteed them millions in risk-free income," according to the article ... "The Real Housewives of Wall Street," which appears in [Rolling Stone]. In 2009, Christy Mack and Susan Karches launched Waterfall TALF Opportunity, a company with a Cayman Islands address, although the two women did not seem "to have any experience whatsoever in finance." TALF stands for "Term Asset-Backed Securities Loan Facility." The federal aid they received "falls under a broader category of bailout initiatives designed" by Federal Reserve chief Ben Bernanke and Treasury Secretary Timothy Geithner. With an initial upfront investment of $15 million, Waterfall TALF received $220 million in cash from the Fed, most of which it used to purchase "student loans and commercial mortgages." The loans were set up so that the investors "would keep 100% of any gains on the deal while the Fed and the Treasury (read: the taxpayer) would eat 90% of the losses."

Note: We don't usually quote the New York Daily News, but as they were the only major media to report this important story, we've included it here. Why are the major media silent on this powerful information uncovered by U.S. Senator Bernie Sanders? For the full story on this, click here. For lots more from reliable sources on corruption in the government bailouts of the biggest banks, click here.

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

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

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

Genetically modified cows produce 'human' milk
2011-04-02, The Telegraph (One of the UK's leading newspapers)
http://www.telegraph.co.uk/earth/agriculture/geneticmodification/8423536/Gene...

Scientists have created genetically modified cattle that produce "human" milk in a bid to make cows' milk more nutritious. The scientists have ... introduced human genes into 300 dairy cows to produce milk with [some of] the same properties as human breast milk. The scientists behind the research ... hope genetically modified dairy products from herds of similar cows could be sold in supermarkets. The research has the backing of a major biotechnology company. Genetically modified food has become a highly controversial subject and currently they can only be sold in the UK and Europe if they have passed extensive safety testing. The consumer response to GM food has also been highly negative, resulting in many supermarkets seeking to source products that are GM free. Helen Wallace, director of biotechnology monitoring group GeneWatch UK, said: "We have major concerns about this research to genetically modify cows with human genes. There are major welfare issues with genetically modified animals as you get high numbers of still births. There is a question about whether milk from these cows is going to be safe for humans and it is really hard to tell that unless you do large clinical trials like you would a drug, so there will be uncertainty about whether it could be harmful to some people. Ethically there are issues about mass producing animals in this way."

Note: For a powerful summary of the dangers of genetically modified foods, click here. And for other major media news articles exposing the serious risks and dangers of genetically modified foods, click here.

Organic farmers sue, seek protection from Monsanto
2011-03-29, Reuters News
http://www.reuters.com/article/2011/03/29/monsanto-lawsuit-idUKN2929224220110329

A consortium of U.S. organic farmers and seed dealers filed suit against global seed giant Monsanto Co. on [March 29], in a move to protect themselves from what they see as a growing threat in the company's arsenal of genetically modified crops. The Public Patent Foundation filed the suit on behalf of more than 50 organizations challenging the chemical giant's patents on its genetically modified seeds. The group is seeking a ruling that would prohibit Monsanto from suing the farmers or dealers if their organic seed becomes contaminated with Monsanto's patented biotech seed germplasm. Monsanto has filed scores of lawsuits and won judgments against farmers they claimed made use of their seed without paying required royalties. Many farmers have claimed that their fields were inadvertently contaminated without their knowledge, and the issue has been a topic of concern for not only farmers, but also companies that clean and handle seed. "This case asks whether Monsanto has the right to sue organic farmers for patent infringement if Monsanto's genetically modified seed should land on their property," said Dan Ravicher, executive director of PUBPAT. The suit also alleges that Monsanto's GMO seeds do more harm than good and claims the patents on genetically modified seed are invalid because they don't meet the "usefulness" requirement of patent law.

Note: For a powerful, quality documentary revealing the gross abuses of Monsanto which endanger public health, click here.

G.E.’s Strategies Let It Avoid Taxes Altogether
2011-03-25, New York Times
http://www.nytimes.com/2011/03/25/business/economy/25tax.html

General Electric, the nation’s largest corporation, had a very good year in 2010. The company reported worldwide profits of $14.2 billion, and said $5.1 billion of the total came from its operations in the United States. Its American tax bill? None. In fact, G.E. claimed a tax benefit of $3.2 billion. That may be hard to fathom for the millions of American business owners and households now preparing their own returns, but low taxes are nothing new for G.E. The company has been cutting the percentage of its American profits paid to the Internal Revenue Service for years, resulting in a far lower rate than at most multinational companies. Its extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress. While General Electric is one of the most skilled at reducing its tax burden, many other companies have become better at this as well.

Note: For key reports from major media sources on corporate and government corruption, click here and here.

Indiana prosecutor resigns for encouraging fake attack on Wisconsin governor
2011-03-25, CBS News
http://www.cbsnews.com/8301-503544_162-20047130-503544.html

Carlos Lam, a Republican activist and Indiana deputy prosecutor, has resigned amid revelations that he sent an email calling for a fake attack on Wisconsin Governor Scott Walker designed to discredit union protesters. Walker, a Republican, was the target of protests for his efforts to roll back many union collective bargaining rights in his state. In a Feb. 19 email uncovered by the Wisconsin Center for Investigative Journalism, Lam apparently told Walker he had a "good opportunity" to win public sympathy with a "'false flag' operation." "If you could employ an associate who pretends to be sympathetic to the unions' cause to physically attack you (or even use a firearm against you), you could discredit the unions," read the email. Lam initially denied having sent the email. He [claimed] he had been shopping for a minivan with his family when it was sent, and suggested his email account had been infiltrated by his political enemies. Lam resigned as deputy prosecutor on Thursday morning, however, reportedly telling his boss he had indeed sent the email. Last month, another Indiana official -- Deputy Attorney General Jeff Cox - lost his job for calling on law enforcement to "use live ammunition" on Wisconsin protesters. Also in February, Walker was the victim of a prank call by a liberal journalist pretending to be billionaire conservative activist David Koch. When the journalist suggested planting people among the protesters to stir up trouble, Walker responded that "we thought about that" but added that he had decided against it.

Note: To learn more about the prevalence of "false flag" operations in politics with links to reliable, verifiable sources, click here. For more on this official's call for a false-flag attack, click here.

Why those from 'Inside Job' aren't inside a prison
2011-03-01, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2011/02/28/BURF1HV7AV.DTL

"Forgive me," said Berkeley filmmaker Charles Ferguson upon receiving an Academy Award on Sunday night for his documentary "Inside Job." "I must start by pointing out that three years after a horrific financial crisis caused by fraud, not a single financial executive has gone to jail - and that's wrong." A number of people would agree, including a majority of Americans, according to opinion polls, who blame U.S. banks and other private institutions for the 2007-08 financial meltdown documented in Ferguson's film. "He raised exactly the right question," said William Black, a senior regulator at the former Federal Savings and Loan Insurance Corp., which helped clean up the far less costly S&L crisis of the late 1980s and early 1990s. More than 1,800 S&L officials were convicted of felonies in its aftermath, with more than 1,000 jailed. But the difference between then and now - and with the 1929 crash, which saw a number of bankers go to jail - is open to much debate. "We had well over 10,000 criminal referrals from regulators in the S&L crisis," said Black, now an associate professor of economics and law at the University of Missouri-Kansas City School of Law. "This time, zero."

Note: For other major media articles revealing the vast extent of unmitigated corruption related to the banking bailouts, click here. For reliable, eye-opening information on how the public is continually deceived about banking, click here. And for an excellent study guide on the facts presented in this revealing film, click here.

Parents Lose High Court Appeal in Vaccine Case
2011-02-22, U.S. News & World Report/Associated Press
http://www.usnews.com/news/articles/2011/02/22/parents-lose-high-court-appeal...

The Supreme Court closed the courthouse door ... to parents who want to sue drug makers over claims their children developed autism and other serious health problems from vaccines. The ruling was a stinging defeat for families dissatisfied with how they fared before a special no-fault vaccine court. The court voted 6-2 against the parents of a child who sued the drug maker Wyeth in Pennsylvania state court for the health problems they say their daughter, now 19, suffered from a vaccine she received in infancy. Justice Antonin Scalia, writing for the court, said Congress set up a special vaccine court in 1986 to ... create a system that spares the drug companies the costs of defending against parents' lawsuits. Justices Ruth Bader Ginsburg and Sonia Sotomayor dissented. Nothing in the 1986 law ''remotely suggests that Congress intended such a result,'' Sotomayor wrote, taking issue with Scalia. Scalia's opinion was the latest legal setback for parents who felt they got too little from the vaccine court or failed to collect at all. Such was the case for Robalee and Russell Bruesewitz of Pittsburgh, who filed their lawsuit after the vaccine court rejected their claims for compensation. According to the lawsuit, their daughter, Hannah, was a healthy infant until she received the diphtheria, tetanus and pertussis vaccine in April 1992. Within hours of getting the DPT shot, the third in a series of five, the baby suffered a series of debilitating seizures.

Note: Vaccines have been strongly promoted for decades, yet the research supporting many vaccines is amazingly weak. For more powerful information questioning the efficacy of vaccines, click here.

Trustee: J.P. Morgan Abetted Madoff
2011-02-04, Wall Street Journal
http://online.wsj.com/article/SB10001424052748703652104576122300990479090.html

J.P. Morgan Chase & Co. ignored or dismissed warning signs about the Madoff fraud even as it earned hundreds of millions of dollars from its relationship with his firm, according to a lawsuit unsealed [on February 3]. The $6.4 billion lawsuit ... claims that bankers at J.P. Morgan discussed the possibility that Bernard Madoff was operating a Ponzi scheme, worried that a firm of such size was audited by a storefront accountant and called his returns "too good to be true." "While numerous financial institutions enabled Madoff's fraud, JPMC was at the very center of that fraud, and thoroughly complicit in it," according to the 115-page lawsuit, filed under seal in December by Irving Picard, the trustee seeking to recover money for Mr. Madoff's victims. The complaint seeks the return of nearly $1 billion in J.P. Morgan's profits and fees, and $5.4 billion in damages. It goes into great detail about the bank's alleged efforts, starting in about 2006, to make money by offering products tied to Mr. Madoff through investment funds that fed money to him. The lawsuit offers a detailed account of the more than two decade relationship between J.P. Morgan and Mr. Madoff. The lawsuit claims that the bank didn't pay attention to billions of dollars passing through the Madoff firm's main J.P. Morgan account, much of it by hand-written check, or to discrepancies in the account balance and unreported obligations.

Note: For lots more from major media sources on the criminal practices of the biggest financial institutions, click here.

Deregulation of derivatives set stage for collapse
2011-01-30, San Francisco Chronicle (San Francisco's leading newspaper)
http://articles.sfgate.com/2011-01-30/business/27091349_1_otc-derivatives-otc...

"We certainly applaud the efforts of the commission," said White House press secretary Robert Gibbs, referring to the Financial Crisis Inquiry Report. "Frankly, I'm not sure much has changed," said one of commissioners, Byron Georgiou. "The concentration of assets in the nation's 10 biggest banks is bigger now than it was five years ago, from 58 percent in 2006 to 63 percent now." Referring to executives who remain at the head of those banks that almost ran aground, Georgiou said ... "Either they knew and didn't want to tell us, or they really didn't know. Either way, they put their institutions at risk." And have yet to be held accountable. Commissioner Brooksley Born can enjoy a certain sense of vindication. Not only had "over-the-counter derivatives contributed significantly to this crisis," ... but the enactment of legislation in 2000 to ban their regulation "was a key turning point in the march toward the financial crisis." As head of the Commodity Futures Trading Commission in the 1990s, Born was aware of the damage the largely unregulated instruments had already caused. Born suggested some more regulation. [She] was squashed like a bug by Clinton administration heavyweights, including Lawrence Summers and Robert Rubin, [and] Federal Reserve Chairman Alan Greenspan. One of the results: The Commodity Futures Modernization Act of 2000 eliminated government oversight of the OTC market. As the report documents, the use of such derivatives ... helped bring the entire financial system to its knees. Born hasn't seen much change in terms of accountability. One thing the report makes clear ... is just how preposterous were the "Who knew?" and "Who could have predicted?" statements offered up by chief executives and top government officials.

Note: The powerful movie "Inside Job" lays all of this bare. For lots more revealing news on the banking bailout and financial collapse, click here.

FDA panel urges new look at "silver" teeth fillings
2010-12-15, MSNBC/Reuters
http://www.msnbc.msn.com/id/40604587/ns/health

Enough uncertainty surrounds silver-colored metal dental fillings with mercury that U.S. regulators should add more cautions for dentists and patients, a U.S. advisory panel [has] said. The fillings should be accompanied by warnings about unknown risks for vulnerable people such as children and pregnant women. "There really is no place for mercury in children," Suresh Kotagal, a panelist and neurologist at the Mayo Clinic in Rochester, Minnesota, said of the toxic metal. Mercury has been linked to neurological damage at high exposure levels and makes up about half of a metal filling. While the panel stopped short of urging a ban, it wants the FDA to look at the latest data and reassess its guidance after the agency last year declared the fillings safe. Some European nations have banned amalgam use. Critics told the advisers there was a clear link between mercury fillings and side effects, especially in more vulnerable patients. They should be banned or not implanted unless patients give consent, they said.

Note: Why is mercury still used in most dental fillings, when there is a known risk and other materials are available? Our teeth are not a good place for mercury. Studies have proven that small amounts of mercury are released by these fillings in gases into the mouth, only the toxicity is debated. For more, click here.

A Secretive Banking Elite Rules Trading in Derivatives
2010-12-12, New York Times
http://www.nytimes.com/2010/12/12/business/12advantage.html

On the third Wednesday of every month, the nine members of an elite Wall Street society gather in Midtown Manhattan. The men share a common goal: to protect the interests of big banks in the vast market for derivatives, one of the most profitable — and controversial — fields in finance. They also share a common secret: The details of their meetings, even their identities, have been strictly confidential. Drawn from giants like JPMorgan Chase, Goldman Sachs and Morgan Stanley, the bankers form a powerful committee that helps oversee trading in derivatives, instruments which, like insurance, are used to hedge risk. In theory, this group exists to safeguard the integrity of the multitrillion-dollar market. In practice, it also defends the dominance of the big banks. The banks in this group ... have fought to block other banks from entering the market, and they are also trying to thwart efforts to make full information on prices and fees freely available. Banks’ influence over this market, and over clearinghouses like the one this select group advises, has costly implications for businesses large and small. The size and reach of this market has grown rapidly over the past two decades. Pension funds today use derivatives to hedge investments. States and cities use them to try to hold down borrowing costs. Airlines use them to secure steady fuel prices. Food companies use them to lock in prices of commodities like wheat or beef.

Note: For a treasure trove of reports from reliable sources detailing the amazing control of major banks over government and society, click here.

Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms
2010-12-02, The Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2010/12/01/AR20101201068...

New disclosures show the Federal Reserve rushed trillions of dollars in emergency aid not just to Wall Street but also to ... foreign-owned banks in 2008 and 2009. The central bank's aid programs also supported U.S. subsidiaries of banks based in East Asia, Europe and Canada. The biggest users of the Fed lending programs were some of the world's largest banks, including Citigroup, Bank of America, Goldman Sachs, Swiss-based UBS and Britain's Barclays, according to more than 21,000 loan records released [December 1] under new financial regulatory legislation. The data reveal banks turning to the Fed for help almost daily in the fall of 2008 as the central bank lowered lending standards and extended relief to all kinds of institutions it had never assisted before. The extent of the lending to major banks - and the generous terms of some of those deals - heighten the political peril for a central bank that is already under the gun for a wide range of actions, including a recent decision to try to stimulate the economy by buying $600 billion in U.S. bonds. "The American people are finally learning the incredible and jaw-dropping details of the Fed's multitrillion-dollar bailout of Wall Street and corporate America," said Sen. Bernard Sanders (I-Vt.), a longtime Fed critic whose provision in the Wall Street regulatory overhaul required the new disclosures. "Perhaps most surprising is the huge sum that went to bail out foreign private banks and corporations." The Fed launched emergency programs totaling $3.3 trillion in aid, a figure reached by adding up the peak amount of lending in each program.

Note: The figure of $3.3 trillion cited in this article was simply the peak amount lent at one moment in time; the total amount lent by the Fed over the years covered by the data exceeded $20 trillion. For analysis of this data release, click here.

McDonald's and PepsiCo to help write UK health policy
2010-11-12, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/politics/2010/nov/12/mcdonalds-pepsico-help-health-...

The Department of Health is putting the fast food companies McDonald's and KFC and processed food and drink manufacturers such as PepsiCo, Kellogg's, Unilever, Mars and Diageo at the heart of writing government policy on obesity, alcohol and diet-related disease. In an overhaul of public health, said by [critics] to be the equivalent of handing smoking policy over to the tobacco industry, health secretary Andrew Lansley has set up five "responsibility deal" networks with business, co-chaired by ministers, to come up with policies. The groups are dominated by food and alcohol industry members, who have been invited to suggest measures to tackle public health crises. The alcohol responsibility deal network is chaired by the head of the lobby group the Wine and Spirit Trade Association. The food network to tackle diet and health problems includes processed food manufacturers, fast food companies, and Compass, the catering company. The food deal's sub-group on calories is chaired by PepsiCo, owner of Walkers crisps. The leading supermarkets are an equally strong presence. In early meetings, these commercial partners have been invited to draft priorities and identify barriers, such as EU legislation, that they would like removed. They have been assured by Lansley that he wants to explore voluntary not regulatory approaches, and to support them in removing obstacles.

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

"Inside Job" rigorously shows how financial crisis happened
2010-10-29, Denver Post (Denver's leading newspaper)
http://www.denverpost.com/movies/ci_16451155

Somebody owes us $20 trillion. "Inside Job," a riveting, eye-opening, infuriating documentary about the financial collapse of 2008, coolly presents a prosecutor's brief against the culprits who engineered the greatest economic crisis since the Great Depression. They occupy both sides of the legislative aisle, corporate boardrooms, Ivy League faculty lounges and bank headquarters. They made money – sometimes obscene amounts of it – while rigging a monetary meltdown that left middle-class taxpayers holding the bag, and thousands of less-fortunate former homeowners holding cardboard signs beside freeway on-ramps. This is no dry economics lesson; it is a vital wakeup call. The presentation is articulate and rigorously factual, presented in six chapters, from "How We Got There" to "Accountability." The financial earthquake was not only entirely avoidable, but was utterly predictable given the steady erosion of scrutiny of financial markets here and abroad. Reducing state monitoring under the Reagan administration set the stage for the savings-and-loan crisis and the collapse of the junk-bond market. But that was a luau compared with what lay ahead. Successive administrations, Democratic and Republican alike, heeded advisers pushing for further deregulation, leading to WorldCom, Enron, the dot-com bubble and the 2008 panic. Many of those laissez-faire advocates were prominent academics receiving sizable consulting fees to testify in antitrust cases and in Congress on Wall Street's behalf.

Note: For lots more from reliable sources on the long history of criminal and corrupt practices of major financial powers and regulatory bodies, click here.

Commodity Futures Trading Commission judge says colleague biased against complainants
2010-10-19, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2010/10/19/AR20101019072...

As George H. Painter was preparing to retire recently as one of two administrative law judges presiding over investor complaints at the Commodity Futures Trading Commission, he issued an extraordinary request: Please don't assign my pending cases to the other judge. [The CFTC oversees trading of the nation's most important commodities, including oil, gold and cotton.] Painter said Judge Bruce Levine ... had a secret agreement with a former Republican chairwoman of the agency to stand in the way of investors filing complaints with the agency. "On Judge Levine's first week on the job, nearly twenty years ago, he came into my office and stated that he had promised Wendy Gramm, then Chairwoman of the Commission, that we would never rule in a complainant's favor," Painter wrote. "A review of his rulings will confirm that he fulfilled his vow. Judge Levine ... forces pro se complainants to run a hostile procedural gauntlet until they lose hope, and either withdraw their complaint or settle for a pittance, regardless of the merits of the case." Levine was the subject of a story 10 years ago in the Wall Street Journal, which said that except in a handful of cases in which defunct firms failed to defend themselves, Levine had never ruled in favor of an investor. Gramm [wife of former senator Phil Gramm (R-Tex.)], was head of the CFTC just before president Bill Clinton took office. She has been criticized by Democrats for helping firms such as Goldman Sachs and Enron gain influence over the commodity markets. After leaving the CFTC, she joined Enron's board.

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

How to brand a disease -- and sell a cure
2010-10-11, CNN
http://www.cnn.com/2010/OPINION/10/11/elliott.branding.disease/

If you want to understand the way prescription drugs are marketed today, have a look at the 1928 book, Propaganda, by Edward Bernays, the father of public relations in America. For Bernays, the public relations business was less about selling things than about creating the conditions for things to sell themselves. When Bernays was working as a salesman for Mozart pianos, for example, he did not simply place advertisements for pianos in newspapers. That would have been too obvious. Instead, Bernays persuaded reporters to write about a new trend: Sophisticated people were putting aside a special room in the home for playing music. Once a person had a music room, Bernays believed, he would naturally think of buying a piano. As Bernays wrote, "It will come to him as his own idea." Just as Bernays sold pianos by selling the music room, pharmaceutical marketers now sell drugs by selling the diseases that they treat. The buzzword is "disease branding." To brand a disease is to shape its public perception in order to make it more palatable to potential patients. Once a branded disease has achieved a degree of cultural legitimacy, there is no need to convince anyone that a drug to treat it is necessary. It will come to him as his own idea. It is hard to brand a disease without the help of physicians, of course. So drug companies typically recruit academic "thought leaders" to write and speak about any new conditions they are trying to introduce.

Note: This key topic is discussed in great depth in the BBC's documentary "Century of the Self" available here. And for a top doctor's analysis that the cholesterol scare was largely manufactured for profit, click here.

Poor healthcare may shorten American lives
2010-10-07, MSNBC/Reuters
http://www.msnbc.msn.com/id/39548799

Americans die sooner than citizens of a dozen other developed nations and the usual suspects -- obesity, traffic accidents and a high murder rate -- are not to blame. Instead, poor healthcare may be to blame, the team at Columbia University in New York reported. They found that 15-year survival rates for men and women aged 45 to 65 have fallen in the United States relative to the other 12 countries over the past 30 years. In June, the Commonwealth Fund, which advocates on and does research focusing on healthcare reform, reported that Americans spend twice as much on healthcare as residents of other developed countries -- $7,290 per person -- but get lower quality and less efficiency. Between 1975 and 2005, medical costs went up in all the countries, as did life expectancy. But costs went up far more in the United States and life expectancy increased to a far lower degree. "In 1950, the United States was fifth among the leading industrialized nations with respect to female life expectancy at birth, surpassed only by Sweden, Norway, Australia, and the Netherlands," [the report authors] wrote. At last count, the United States was 46th in female life expectancy; 49th for both sexes.

Note: For key reports from reliable sources on important health issues, click here.

Horrific medical tests of past raise concerns for today
2010-10-01, MSNBC
http://today.msnbc.msn.com/id/39463624/ns/today-today_health

The astounding revelation that U.S. medical researchers intentionally gave Guatemalans gonorrhea and syphilis more than 60 years ago is so horrifying that we want to believe that what happened then could never happen today. A report from the United States Department of Health and Human Services noted that roughly 80 percent of drug approvals in 2008 were based in part on data from outside the U.S. Susan Reverby, a distinguished historian at Wellesley College in Massachusetts, has ... long researched the infamous Tuskegee Syphilis Study, the experiment where poor, black men in rural Alabama were deliberately left untreated for syphilis by government researchers. The study, somehow, was allowed to run from 1932 to 1972. More recently, Reverby came across documents that showed that Dr. John C. Cutler, a physician who would later be one of the researchers involved in the Tuskegee study, was involved in a completely unethical research study much earlier in Guatemala. Cutler, who went to his grave defending the Tuskegee experiment, directly inoculated unknowing prisoners in Guatemala with syphilis and also encouraged them to have sex with diseased prostitutes for his research from 1946-48. His work was sponsored by lauded organizations such as the United States Public Health Service, the National Institutes of Health with collaboration of the Pan American Health Sanitary Bureau (now the Pan American Health Organization), and the Guatemalan government.

Note: The author of this commentary is Arthur Caplan, director of the Center for Bioethics at the University of Pennsylvania. For many other examples of government-sponsored experimentation on human guinea pigs, click here.

BP accused of 'buying academic silence'
2010-07-22, BBC News
http://www.bbc.co.uk/news/world-us-canada-10731408

The head of the American Association of University Professors has accused BP of trying to "buy" the best scientists and academics to help it contest litigation after the Gulf of Mexico oil spill. "This is really one huge corporation trying to buy faculty silence in a comprehensive way," said Cary Nelson. BP faces more than 300 lawsuits so far. In a statement, BP says it has hired more than a dozen national and local scientists "with expertise in the resources of the Gulf of Mexico". The BBC has obtained a copy of a contract offered to scientists by BP. It says that scientists cannot publish the research they do for BP or speak about the data for at least three years, or until the government gives the final approval to the company's restoration plan for the whole of the Gulf. And it adds that scientists must take instructions from lawyers offering the contracts and other in-house counsel at BP. What Mr Nelson is concerned about is BP's control over scientific research. "Our ability to evaluate the disaster and write public policy and make decisions about it as a country can be impacted by the silence of the research scientists who are looking at conditions," he said. "It's hugely destructive. I mean at some level, this is really BP versus the people of the United States."

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

Diabetes Drug Maker Hid Test Data, Files Indicate
2010-07-13, New York Times
http://www.nytimes.com/2010/07/13/health/policy/13avandia.html

In the fall of 1999, the drug giant SmithKline Beecham secretly began a study to find out if its diabetes medicine, Avandia, was safer for the heart than a competing pill, Actos, made by Takeda. Avandia’s success was crucial to SmithKline, whose labs were otherwise all but barren of new products. But the study’s results, completed that same year, were disastrous. Not only was Avandia no better than Actos, but the study also provided clear signs that it was riskier to the heart. But instead of publishing the results, the company spent the next 11 years trying to cover them up, according to documents recently obtained by The New York Times. The company did not post the results on its Web site or submit them to federal drug regulators, as is required in most cases by law. The heart risks from Avandia first became public in May 2007, with a study from a cardiologist at the Cleveland Clinic who used data the company was forced by a lawsuit to post on its own Web site. In the ensuing months, GlaxoSmithKline officials conceded that they had known of the drug’s potential heart attack risks since at least 2005. But the latest documents demonstrate that the company had data hinting at Avandia’s extensive heart problems almost as soon as the drug was introduced in 1999, and sought intensively to keep those risks from becoming public.

Note: For lots more on corporate corruption from major media sources, click here.

How Goldman gambled on starvation
2010-07-02, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/opinion/commentators/johann-hari/johann-hari-how...

This is the story of how some of the richest people in the world – Goldman, Deutsche Bank, the traders at Merrill Lynch, and more – have caused the starvation of some of the poorest people in the world. At the end of 2006, food prices across the world started to rise, suddenly and stratospherically. Within a year, the price of wheat had shot up by 80 per cent, maize by 90 per cent, rice by 320 per cent. In a global jolt of hunger, 200 million people – mostly children – couldn't afford to get food any more, and sank into malnutrition or starvation. There were riots in more than 30 countries, and at least one government was violently overthrown. Then, in spring 2008, prices just as mysteriously fell back to their previous level. Jean Ziegler, the UN Special Rapporteur on the Right to Food, calls it "a silent mass murder", entirely due to "man-made actions." Through the 1990s, Goldman Sachs and others lobbied hard and the regulations [controlling agricultural futures contracts] were abolished. Suddenly, these contracts were turned into "derivatives" that could be bought and sold among traders who had nothing to do with agriculture. A market in "food speculation" was born. The speculators drove the price through the roof.

Note: For an abundance of reports from major media sources detailing the many complex and hidden strategies employed by financial corporations to keep their hyper-profits flowing in, click here.

Reports accuse WHO of exaggerating H1N1 threat, possible ties to drug makers
2010-06-04, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2010/06/04/AR20100604030...

European criticism of the World Health Organization's handling of the H1N1 pandemic intensified ... with the release of two reports that accused the agency of exaggerating the threat posed by the virus and failing to disclose possible influence by the pharmaceutical industry on its recommendations for how countries should respond. The WHO's response caused widespread, unnecessary fear and prompted countries around the world to waste millions of dollars. At the same time, the Geneva-based arm of the United Nations relied on advice from experts with ties to drug makers in developing the guidelines it used to encourage countries to stockpile millions of doses of antiviral medications. The first report ... came from the Social, Health and Family Affairs Committee of the Parliamentary Assembly of the Council of Europe, which launched an investigation in response to allegations that the WHO's response to the pandemic was influenced by drug companies that make antiviral drugs and vaccines. The second report, a joint investigation by the [British Medical Journal] and the Bureau of Investigative Journalism ... criticized 2004 guidelines the WHO developed based in part on the advice of three experts who received consulting fees from the two leading manufacturers of antiviral drugs used against the virus, Roche and GlaxoSmithKline.

Note: For wide coverage from reliable sourcesof the swine and avian flu "fake pandemics" designed for corporate profit, click here.

Report details oil company gifts to regulators
2010-05-26, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/05/26/MN1I1DKGSU.DTL

Employees of the federal agency that regulates offshore drilling accepted lunches, football tickets, hunting trips and other gifts from the oil and gas companies they were in charge of policing, according to a report [on May 25] by the Interior Department's inspector general. The investigation, which zeroed in on the Lake Charles, La., office of the embattled Minerals Management Service, also found that at least one agency inspector also was actively negotiating employment with an oil and gas production company while simultaneously inspecting its platforms in the Gulf of Mexico. The oil spill in the gulf has focused intense scrutiny on the agency's oversight of offshore drilling and raised questions about whether it was lax in setting requirements for key safety devices and practices. But even before the spill, the agency had been singled out for ethical lapses and mismanagement. In 2008, the Interior Department's inspector general rapped workers in MMS' Lakewood, Colo., office for having sexual relationships with and accepting gifts from energy company representatives. Over a decade, there have been ten inspector general reports and nine from the Government Accountability Office that documented "failures within MMS," [Rep. Darrell Issa] said, "and yet it still took a massive catastrophe to get anyone to ... agree on the need for a massive bureaucratic overhaul."

Note: For an abundance of revealing articles from major media sources on government and corporate collusion and corruption, click here and here.

Speedy New Traders Make Waves Far From Wall Street
2010-05-17, New York Times
http://dealbook.blogs.nytimes.com/2010/05/17/speedy-new-traders-make-waves-fa...

Inside the humdrum offices of a tiny trading firm called Tradeworx, workers ... tend high-speed computers that typically buy and sell 80 million shares a day. But on the afternoon of May 6, as the stock market began to plunge in the “flash crash,” someone here walked up to one of those computers and typed the command HF STOP: sell everything and shutdown. Across the country, several of Tradeworx’s counterparts did the same. In a blink, some of the most powerful players in the stock market — high-frequency traders — went dark. The result sent chills through the financial world. After the brief 1,000-point plunge in the stock market that day, the growing role of high-frequency traders in the nation’s financial markets is drawing new scrutiny. Over the last decade, these high-tech operators have become sort of a shadow Wall Street — from New Jersey to Kansas City, from Texas to Chicago. Depending on whose estimates you believe, high-frequency traders account for 40 to 70 percent of all trading on every stock market in the country. Some of the biggest players trade more than a billion shares a day. These are short-term bets. Very short. The founder of Tradebot, in Kansas City, Mo., told students in 2008 that his firm typically held stocks for 11 seconds. Tradebot, one of the biggest high-frequency traders around, had not had a losing day in four years, he said.

Note: For key reports on the dubious practices which underlay the financial crisis and the impoverishment of the public treasury, click here.

Stock market time bomb?
2010-05-10, Washington Times
http://www.washingtontimes.com/news/2010/may/10/stock-market-time-bomb/?page=all

Even the world’s most savvy stock-market giants (e.g., Warren E. Buffett) have warned over the past decade that derivatives are the fiscal equivalent of a weapon of mass destruction. And the consequences of such an explosion would make the recent global financial and economic crisis seem like penny ante. But generously lubricated lobbyists for the unrestricted, unsupervised derivatives markets tell congressional committees and government regulators to butt out. While banks all over the world were imploding and some $50 trillion vanished in global stock markets, the derivatives market grew by an estimated 65 percent, according the Bank for International Settlements. BIS convenes the world’s 57 most powerful central bankers in Basel, Switzerland, for periodic secret meetings. Occasionally, they issue a cry of alarm. This time, derivatives had soared from $414.8 trillion at the end of 2006 to $683.7 trillion in mid-2008 - 18 months’ time. The derivatives market is now estimated at $700 trillion. What’s so difficult to understand about derivatives? Essentially, they are bets for or against the house - red or black at the roulette wheel. Or betting for or against the weather in situations in which the weather is critical (e.g., vineyards). Forwards, futures, options and swaps form the panoply of derivatives. Credit derivatives are based on loans, bonds or other forms of credit. Over-the-counter (OTC) derivatives are contracts that are traded and privately negotiated directly between two parties, outside of a regular exchange. All of this is unregulated.

Note: Though not from one of the top U.S. newspapers, this incisive article lays bare severe market manipulations that greatly endanger our world. The entire article is highly recommended. $700 trillion is equivalent to $100,000 for every man, woman, and child in the world! Do you think the financial industry is out of control? For lots more powerful, reliable information on major banking manipulations, click here. For a powerful analysis describing just how crazy things have gotten and giving some rays of hope by researcher David Wilcock, click here.

Swine flu was as elusive as WMD. The real threat is mad scientist syndrome
2010-01-14, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/commentisfree/2010/jan/14/swine-flu-elusive-as-wmd

Remember the warnings of 65,000 dead? Health chiefs should admit they were wrong – yet again – about a global pandemic. Let me recap. Six months ago [the] BBC was intoning nightly statistics on what "could" happen as "the deadly virus" took hold. The happy-go-lucky virologist, John Oxford, said half the population could be infected, and that his lowest estimate was 6,000 dead. The chief medical officer, Sir Liam Donaldson, bandied about any figure that came into his head, settling on "65,000 could die", peaking at 350 corpses a day. The media went berserk. The World Health Organisation declared a "six-level alert" so as to "prepare the world for an imminent attack". If anyone dared question this drivel, they were dismissed by Donaldson as "extremists". When people started reporting swine flu to be even milder than ordinary flu, he accused them of complacency and told them to "wait for next winter". He was already buying 32m masks and spending more than £1bn on Tamiflu and vaccines. It was pure, systematic government-induced panic – in which I accept that the media played its joyful part.

Note: For lots more on the gross profiteering and fear mongering of swine flu scare, click here.

Former CDC head lands vaccine job at Merck
2009-12-21, Reuters News
http://www.reuters.com/article/idUSN2124506920091221

Dr. Julie Gerberding, former director of the U.S. Centers for Disease Control and Prevention, was named president of Merck & Co Inc's vaccine division. Gerberding, who led the CDC from 2002 to 2009 and stepped down when President Barack Obama took office, will head up the company's $5 billion global vaccine business that includes shots to prevent chickenpox, cervical cancer and pneumonia. She had led CDC from one crisis to another, including the investigation into the anthrax attacks that killed five people in 2001, the H5N1 avian influenza, the global outbreak of severe acute respiratory syndrome, or SARS, and various outbreaks of food poisoning. She may be charged with reigniting flagging sales of Merck's Gardasil vaccine to prevent cervical cancer by protecting against human papillomavirus or HPV. After an encouraging launch Gardasil sales have been falling and were down 22 percent in the third quarter at $311 million.

Note: So the head of the CDC now is in charge of vaccines at one of the biggest pharmaceutical companies in the world. Could this be considered conflict of interest? Could this possibly be payback for supporting the vaccine agenda so strongly for years? For more on the risks and dangers of vaccines, click here.

Lending Declines as Bank Jitters Persist
2009-11-25, Wall Street Journal
http://online.wsj.com/article/SB125907631604662501.html

U.S. lenders saw loans fall by the largest amount since the government began tracking such data, suggesting that nervousness among banks continues to hamper economic recovery. Total loan balances fell by $210.4 billion, or 3%, in the third quarter, the biggest decline since data collection began in 1984, according to a report released ... by the Federal Deposit Insurance Corp. The FDIC also said its fund to backstop deposits fell into negative territory for just the second time in its history, pushed down by a wave of bank failures. The decline in total loans showed how banks remain reluctant to lend, despite the hundreds of billions of dollars the government has spent to prop up ailing banks and jump-start lending. The issue has taken on greater urgency with the U.S. unemployment rate hitting 10.2% in October. "There is no question that credit availability is an important issue for the economic recovery," FDIC Chairman Sheila Bair told reporters Tuesday. "We need to see banks making more loans to their business customers." She said large banks -- which account for 56% of industry assets and received a large share of the government's bailout funds -- accounted for 75% of the decline.

Note: The big banks were given trillions in bailout funds with a mandate to increase loans and stimulate the economy. Why are they still giving out so few loans? Where did the huge amounts of our taxpayer money go? Why isn't the government demanding accountability with such huge sums of taxpayer money? For lots more on major manipulations by the big bankers, click here.

Skull and Bones members include some of America's most powerful
2009-11-12, CNN
http://www.edition.cnn.com/TRANSCRIPTS/0911/12/ec.01.html

What really happens behind the padlocked doors of this windowless building, [the home] of Skull and Bones, Yale's oldest secret society? Its members include some of America's most powerful and privileged elite all sworn to secrecy. [CAMPBELL] BROWN: Alexandra Robbins broke through the wall of silence to write Secrets of the Tomb based on clandestine interviews with dozens of bonesmen. Only 15 [Yale students] get picked each year. The society includes at least three U.S. presidents, Supreme Court justices, and too many senators and CEOs to name. In 2004, Bush versus Kerry was the first all-bonesmen presidential election. ALEXANDRA ROBBINS: Skull and Bones' only purpose is to get its members into positions of prominence around the world so that they can elevate other members to similar positions. One of the first activities they participate in is called connubial bliss, where ... each member must spend an evening standing in front of the other 14 bonesmen and recount his or her entire sexual and romantic history. BROWN: According to one ... story, Prescott Bush, George W. Bush's grandfather, was part of a group that broke into the Oklahoma burial place of the Apache chief Geronimo and made off with his skull. Geronimo's grave was disturbed back in 1918, there are photos of skulls inside the "Skull and Bones" tomb. They have their own private retreat. Deer Island off the coast of New York. And a world of ready investors and political contacts in the highest echelons of American society. What has kept the secret society alive for all these years? Good old fashioned networking for the super elite.

Note: To watch the CNN video clip on this Yale secret society, click here. For lots more powerful information on Skull and Bones and other secret societies reported in major media articles, click here.

Inquiry Stokes Unease Over Trading Firms That Shape Markets
2009-09-04, New York Times
http://www.nytimes.com/2009/09/04/business/global/04optiver.html

Its superfast, supersecret oil trading software was called the Hammer. And if the Commodity Futures Trading Commission is right, the name fit well with an intricate scheme that allowed commodity traders in Chicago working for Optiver, a little-known company based in Amsterdam, to put their orders first in line and subtly manipulate the price of oil to the company’s advantage. Transcripts and taped conversations of actions that took place in 2007 ... reveal the secretive workings of high-frequency trading, a fast-growing Wall Street business. Critics say this high-speed form of computerized trading, which is used in a wide range of financial markets, enables its practitioners to profit at other investors’ expense. Traders in the Chicago office of Optiver openly talked among themselves of “whacking” and “bullying up” the price of oil. But when called to account by officials of the New York Mercantile Exchange, they described their actions as just “providing liquidity.” In July 2008, the commission charged Optiver with manipulating the price of oil; negotiations over a settlement continue. The Securities and Exchange Commission has opened up an investigation into high-speed-trading practices, in particular the ability of some of the most powerful computers to jump to the head of the trading queue and — in a fraction of a millisecond — capture the evanescent trading spread before the rest of the market does.

Note: This and other reports likely show only the tip of the iceberg of how prices of key stocks and commodities are manipulated. For a great collection of reports from major media sources on the schemes and tricks used by financial corporations, click here.

Health Insurance Insider: 'They Dump the Sick'
2009-06-24, ABC News
http://abcnews.go.com/Business/Health/story?id=7911195

Frustrated Americans have long complained that their insurance companies valued the all-mighty buck over their health care. Today, a retired insurance executive confirmed their suspicions, arguing that the industry that once employed him regularly rips off its policyholders. "[T]hey confuse their customers and dump the sick, all so they can satisfy their Wall Street investors," former Cigna senior executive Wendell Potter said during a hearing on health insurance today before the Senate Committee on Commerce, Science, and Transportation. Potter, who has more than 20 years of experience working in public relations for insurance companies Cigna and Humana, said companies routinely drop seriously ill policyholders so they can meet "Wall Street's relentless profit expectations." "They look carefully to see if a sick policyholder may have omitted a minor illness, a pre-existing condition, when applying for coverage, and then they use that as justification to cancel the policy, even if the enrollee has never missed a premium payment," Potter said. Small businesses, in particular, he said, have had trouble maintaining their employee health insurance coverage, he said. "All it takes is one illness or accident among employees at a small business to prompt an insurance company to hike the next year's premiums so high that the employer has to cut benefits, shop for another carrier, or stop offering coverage altogether," he said. More and more people, he said, are falling victim to "deceptive marketing practices" that encourage them to buy "what essentially is fake insurance," policies with high costs but surprisingly limited benefits.

Note: For lots more on corruption in the health industry, click here.

The danger of drugs … and data
2009-05-09, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/commentisfree/2009/may/09/bad-science-medical-journ...

A fascinating court case in Australia has been playing out around some people who had heart attacks after taking the Merck drug, Vioxx. This medication turned out to increase the risk of heart attacks in people taking it, although that finding was arguably buried in their research, and Merck has paid out more than £2bn to 44,000 people in America. The first ... thing to emerge in the Australian case is email documentation showing staff at Merck made a "hit list" of doctors who were critical of the company, or of the drug. This list contained words such as "neutralise", "neutralised" and "discredit" next to the names of various doctors. "We may need to seek them out and destroy them where they live," said one email, from a Merck employee. Staff are also alleged to have used other tactics, such as trying to interfere with academic appointments, and dropping hints about how funding to institutions might dry up. Worse still, is the revelation that Merck paid the publisher Elsevier to produce a publication. This time Elsevier Australia went the whole hog, giving Merck an entire publication which resembled an academic journal, although in fact it only contained reprinted articles, or summaries, of other articles.

Note: For a superb overview of corruption in the pharmaceutical industry by a leading MD and former medical journal editor, click here.

JPMorgan's Dangerous Derivatives
2009-05-07, Bloomberg/Businessweek
http://www.businessweek.com/magazine/content/09_20/b4131069034013.htm

Gillian Tett [is the author of] Fool's Gold: How the Bold Dream of a Small Tribe at J.P. Morgan Was Corrupted by Wall Street Greed and Unleashed a Catastrophe. Tett is a respected business journalist at the Financial Times. Tett successfully pieces together the colorful backstory of the bank's work to win acceptance in the market for its brainchild, turning credit derivatives "from a cottage industry into a mass-production business." With the benefit of hindsight, we know that while these inventions were intended to control risk, they amplified it instead. This novel idea turned noxious when applied broadly to residential mortgages, a game that the rest of Wall Street later entered into with gusto. We learn in deep detail about not only how collateralized debt obligations are assembled but also their many iterations. Perhaps it's noteworthy that Tett's book begins when JPMorgan had the face-value equivalent of $1.7 trillion in derivatives on its books. Today that number has jumped to a mind-boggling $87 trillion. Part of that portfolio includes almost $8.4 trillion in credit derivatives, more than Bank of America's (BAC), Citi's, and Goldman Sachs' (GS) holdings combined.

Note: So JP Morgan has $87 trillion in derivates, a mass market it helped to create. That is greater than the GDP for the entire world! To verify this, click here. For a New York Times review of this revealing book, click here.

Fed Shrouding $2 Trillion in Bank Loans in ‘Secrecy,’ Suit Says
2009-04-16, Bloomberg News
http://www.bloomberg.com/apps/news?pid=20601087&sid=aS89AaGjOplw

U.S. taxpayers need to know the risks behind the Federal Reserve’s $2 trillion in lending to financial institutions because the public is now an “involuntary investor” in the nation’s banks, according to a court filing by Bloomberg LP. The Fed refuses to name the borrowers, the amounts of loans or assets banks put up as collateral under 11 programs, arguing that doing so might set off a run by depositors and unsettle shareholders. The largest U.S. banks have tapped more than $125 billion in government aid under the Troubled Asset Relief Program in the past seven months. Assets, including loans and securities, on the Fed balance sheet totaled $2.09 trillion as of April 9. Banks oppose any release of information because that might signal weakness and spur short-selling or a run by depositors, the Fed argued in its March 4 response. The release of the information “can fuel market speculation and rumors,” including a drop in stock price and a run on the bank, the Fed said. Bloomberg replied yesterday that “these speculative injuries relate only to the reactions of customers, shareholders and other members of the public, not to competitors’ use of the borrowers’ proprietary information to their advantage,” the exception to disclosure under the FOIA law. Government loans, spending or guarantees to rescue the U.S. financial system total more than $12.8 trillion since the international credit crisis began in August 2007, according to data compiled by Bloomberg as of March 31. The total includes about $2 trillion on the Fed’s balance sheet.

Note: For an extensive archive of key reports on the hidden realities of the Wall Street bailout, click here.

Investments Can Yield More on K Street, Study Indicates
2009-04-12, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/04/11/AR20090411020...

In a remarkable illustration of the power of lobbying in Washington, a study released last week found that a single tax break in 2004 earned companies $220 for every dollar they spent on the issue -- a 22,000 percent rate of return on their investment. The study by researchers at the University of Kansas underscores the central reason that lobbying has become a $3 billion-a-year industry in Washington: It pays. The paper by three Kansas professors examined the impact of a one-time tax break approved by Congress in 2004 that allowed multinational corporations to "repatriate" profits earned overseas, effectively reducing their tax rate on the money from 35 percent to 5.25 percent. More than 800 companies took advantage of the legislation, saving an estimated $100 billion in the process, according to the study. The largest recipients of tax breaks were concentrated in the pharmaceutical and technology fields, including Pfizer, Merck, Hewlett Packard, Johnson & Johnson and IBM. Pfizer alone repatriated $37 billion, representing 70 percent of its revenue in 2004, the study found. The now-beleaguered financial industry also benefited from the provision, including Citigroup, J.P. Morgan Chase, Morgan Stanley and Merrill Lynch, all of which have since received tens of billions of dollars in federal bailout money. The researchers calculated an average rate of return of 22,000 percent for those companies that helped lobby for the tax break.

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

Swiss hold '$150m Nigeria bribes'
2009-04-09, BBC
http://news.bbc.co.uk/2/hi/africa/7991447.stm

US investigators have traced $150m in bribes given to Nigerian officials to Swiss banks, Nigeria's justice minister has said. Michael Kase Aondoakaa said the money was part of $180m in bribes given by US construction company Halliburton to Nigerian officials. The Nigerian government says it has asked the US to release the names of officials who negotiated the bribes. Halliburton admitted paying the bribes to top officials between 1994 and 2004. "We have discovered that $150 million of the bribe money is in Zurich. That is the first shocking discovery. The entire money is $180 million. $150 million is already trapped in Zurich," Mr Aondoakaa said. Halliburton and its engineering subsidiary Kellogg Brown Root negotiated bribes with "three successive holders of a top-level office in the executive branch of the government of Nigeria" during that time, according to the plea agreement the company made with the US Department of Justice. The Nigerian government has come under pressure from the media to follow up the findings of the US court and prosecute the Nigerian bribe-takers. Mr Aondoakaa said they had requested the court unseal the judgement and pass on the names of the officials. Albert "Jack" Stanley, the former chief executive of KBR who pleaded guilty to making the bribes in order to secure $6bn in contracts, is to be sentenced on 6 May. KBR has agreed to pay more than $402m in fines, of which Halliburton, as the former parent company, agreed to pay $302m.

Note: Why doesn't the public know that Halliburton bribed top government officials, and why aren't those officials being prosecuted? For major reports from reliable sources on corporate corruption, click here.

‘No-Risk’ Insurance at F.D.I.C.
2009-04-07, New York Times
http://www.nytimes.com/2009/04/07/business/07sorkin.html?partner=rss&emc=rss&...

The Federal Deposit Insurance Corporation was set up 76 years ago with the important but simple job of insuring bank deposits. Now, because of what could politely be called mission creep, it’s elbowing its way into the middle of the financial mess as an enabler of enormous leverage. In the fine print of Treasury Secretary Timothy F. Geithner’s plan to lend as much as $1 trillion to private investors to help them buy toxic assets from our nation’s banks, you’ll find some details of how the F.D.I.C is trying to stabilize the system by adding more risk, not less, to the system. It’s going to be insuring 85 percent of the debt, provided by the Treasury, that private investors will use to subsidize their acquisitions of toxic assets. These loans, while controversial, were given a warm welcome by the market when they were first announced. And why not? The terms are hard to beat. They are, for example, “nonrecourse,” which means that if an investor loses money, he owes taxpayers nothing. It’s the closest thing to risk-free investing — with leverage! — around. But, as we’ve learned the hard way these last couple of years, risk-free investing is an oxymoron. So where did the risk go this time? To the F.D.I.C., and ultimately, to us taxpayers. A close reading of the F.D.I.C.’s statute suggests the agency is using a unique — some might call it plain wrong — reading of its own rule book to accomplish this high-wire act. Somehow, in the name of solving the financial crisis, the F.D.I.C. has seemingly been given a blank check, with virtually no oversight by Congress.

Note: For a powerfully revealing archive of reports from reliable sources on the hidden realities of the financial bailout, click here.

Fed Refuses to Disclose Recipients of $2 Trillion
2008-12-12, Bloomberg News
http://www.bloomberg.com/apps/news?pid=20601109&sid=apx7XNLnZZlc

The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral. Bloomberg filed suit Nov. 7 under the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending programs, most created during the deepest financial crisis since the Great Depression. The Fed responded Dec. 8, saying it’s allowed to withhold internal memos as well as information about trade secrets and commercial information. “If they told us what they held, we would know the potential losses that the government may take and that’s what they don’t want us to know,” said Carlos Mendez, a senior managing director at New York-based ICP Capital LLC. The Fed stepped into a rescue role that was the original purpose of the Treasury’s $700 billion Troubled Asset Relief Program. The central bank loans don’t have the oversight safeguards that Congress imposed upon the TARP. Total Fed lending exceeded $2 trillion for the first time Nov. 6. It rose by 138 percent, or $1.23 trillion, in the 12 weeks since Sept. 14, when central bank governors relaxed collateral standards to accept securities that weren’t rated AAA. “There has to be something they can tell the public because we have a right to know what they are doing,” said Lucy Dalglish, executive director of the Arlington, Virginia-based Reporters Committee for Freedom of the Press.

Financial Bailout Balloons to the Trillions
2008-11-25, ABC News
http://abcnews.go.com/Business/Economy/story?id=6332892

The government's financial bailout will be the most expensive single expenditure in American history, potentially costing around $7.5 trillion -- or half the value of all the goods and services produced in the United States last year. In comparison, the total U.S. cost of World War II adjusted for inflation was $3.6 trillion. The bailout will cost more than the total combined costs in today's dollars of the Marshall Plan, the Louisiana Purchase, the Korean War, the Vietnam War and the entire historical budget of NASA, including the moon landing, according to data compiled by Bianco Research. It remains to be seen whether the government's multipronged approach to bail out banks, stimulate spending and buy up mortgages will revive the economy, but as the tab continues to grow so does concern over where the government will find the money. Monday the government guaranteed an additional $306 billion to bail out Citigroup, and today Treasury Secretary Henry Paulson pledged $800 billion to make credit more available to consumers and small businesses, and to buy up mortgages from Fannie Mae and Freddie Mac. Congress last month allocated $700 billion for an emergency bailout of some of Wall Street's most storied firms by purchasing their troubled assets. The funds allocated through the Troubled Assets Relief Program are but a small part of the government's overall bailout spending. Bailout programs also include a Federal Reserve plan to buy as much as $2.4 trillion in short-term notes called commercial paper that began Oct. 27, and an FDIC plan to spend $1.4 trillion to guarantee bank-to-bank loans that commenced Oct. 14, according to Bloomberg News, which first compiled the total cost of the bailout.

Note: $7.5 trillion amounts to about $25,000 for every person in the U.S. What's going on here? For many revealing reports on the realities of the Wall Street bailout, click here.

Paulson makes it clear: He's in charge
2008-11-13, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/13/BUUK1439IF.DTL

Henry Paulson's speech Wednesday made it pretty clear: The Treasury secretary has seized control of the financial system. "He is absolutely the most powerful person in the country. Maybe the world," says Wall Street accounting expert Robert Willens. The most telling line in his speech came when Paulson was explaining why he did a 180-degree turn with money approved by Congress under the $700 billion bailout bill. Instead of using it to buy troubled mortgage assets from banks, as clearly envisioned, he scrapped that idea and used it to make equity investments in banks. "In consultation with the Federal Reserve, I determined that the most timely, effective step to improve credit market conditions was to strengthen bank balance sheets quickly through direct purchases of equity in banks," he said. If Paulson bothered consulting with President Bush, he didn't mention it. In fact, he didn't even mention the president until the tail end of his speech, when he talked about the global summit Bush is hosting this weekend. I can understand why Paulson wants to distance himself from an unpopular president, especially one who has little facility for complex financial matters. But Bush is [the] president and even President-elect Barack Obama knows there can be only one president at a time. And his last name is not Paulson. In September, when Paulson asked for a $700 billion blank check from Congress to fix the financial markets, he got a lot of blowback. By the time Congress was done with his proposal, it had grown from 2 1/2 pages to more than 450. Yet it now appears that Paulson got the blank check he wanted.

Note: Why doesn't Congress have some say in what is done with this $700 billion? That's over $3,000 for every taxpayer in the U.S. which is being spent with practically no accountability. Is this what democracy looks like? For many key articles revealing the hidden realities of the bailout, click here.

Warning: King Henry's bailout like Rummy's Iraq
2008-11-10, MarketWatch (A Wall Street Journal Digital Network Website)
http://www.marketwatch.com/news/story/reagonomics-hides-sleeper-cells-harbori...

So you thought Barack Obama's victory signaled the death of Reaganomics? Wrong, wrong: Reaganomics is very much alive. In a subtle, bloodless coup, the Reaganomics ideology magically pulled victory out of the jaws of defeat in the meltdown. The magic happened fast and quietly, in the shadows, while you were in a trance, distracted by the election drama. Recently Naomi Klein, author of The Shock Doctrine: The Rise of Disaster Capitalism, framed the issue perfectly: "Has the Treasury partially nationalized the private banks, as we have been told? Or is it the other way around?" The question was rhetorical, the answer painfully clear. In a few weeks Wall Street did the old bait and switch, emerging from an economic and market disaster with new powers, in total control of America. And thanks to Treasury Secretary Henry Paulson's brilliant bailout coup, Reaganomics is now the new "sleeper cell" quietly hidden inside the Obama White House and America's Treasury, where it will be for a long time to come. Listen closely folks: You and your government are and will continue being conned out of trillions. Klein further exposed this insanity in a recent Rolling Stone article, "The New Trough: The Wall Street bailout looks a lot like Iraq, a 'free-fraud zone' where private contractors cash in on the mess they helped create." Paulson's privatization, outsourcing and management of the $700 billion bailout has the exact same Reaganomics ideological, strategic and deceptive footprints that President George W. Bush and former Defense Secretary Donald Rumsfeld used to privatize, outsource and mismanage the costly Iraq War blunder.

Note: For the powerfully revealing article by Naomi Klein mentioned in the article above, click here. Speaking on Tulsa Oklahoma’s 1170 KFAQ, Senator James Inhofe of Oklahoma (Republican) has revealed that Treasury Secretary Henry Paulson was the source of the threat of martial law in the US if the $700 billion bailout bill was not passed that was exposed on the House floor by Rep. Brad Sherman. For many key articles revealing the hidden realities of the bailout, click here.

White House defends money for banks
2008-10-30, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/30/AR20081030022...

Under fire from Democrats and Republicans alike, the White House ... defended giving billions of bailout dollars to banks that plan to reward shareholders and executives -- or even buy other banks. Allowing banks to engage in such normal business activities actually could help loosen lending and revive the sagging economy, said Ed Lazear, chairman of the Council of Economic Advisers. He said the administration would not impose any conditions on banks beyond those required when Congress created the bailout program, which authorized the government to buy stock in financial institutions. Lazear was put before the cameras in the White House briefing room amid a rising chorus of complaints from lawmakers about the latitude that banks will have when they receive bailout money from Washington. That bailout was originally sold by the administration as a plan for the government to purchase toxic mortgage-based assets from financial institutions, to get them off their books and inspire the resumption of normal lending. After passage, though, the administration decided the better course would be to devote $250 billion into buying ownership stakes in banks. With taxpayers' money flowing into their vaults, banks are going ahead with paying dividends to shareholders, giving bonuses to top executives and acquiring competitors. Lawmakers are asking why banks with the money to do those things need taxpayer-funded help. The rescue legislation included some limits on executive compensation, considered weak by many. And while it does not allow institutions receiving the money to increase dividends, it does not prevent them from paying those dividends.

Note: For extensive coverage of continuing revelations about the Wall Street bailout, click here.

A Few Speculators Dominate Vast Market for Oil Trading
2008-08-21, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/08/20/AR20080820038...

Regulators had long classified a private Swiss energy conglomerate called Vitol as a trader that primarily helped industrial firms that needed oil to run their businesses. But when the Commodity Futures Trading Commission examined Vitol's books last month, it found that the firm was in fact more of a speculator, holding oil contracts as a profit-making investment rather than a means of lining up the actual delivery of fuel. Even more surprising to the commodities markets was the massive size of Vitol's portfolio -- at one point in July, the firm held 11 percent of all the oil contracts on the regulated New York Mercantile Exchange. The discovery revealed how an individual financial player had gained enormous sway over the oil market without the knowledge of regulators. Other CFTC data showed that a significant amount of trading activity was concentrated in the hands of just a few speculators. The CFTC ... now reports that financial firms speculating for their clients or for themselves account for about 81 percent of the oil contracts on NYMEX, a far bigger share than had previously been stated by the agency. That figure may rise in coming weeks as the CFTC checks the status of other big traders. Some lawmakers have blamed these firms for the volatility of oil prices, including the tremendous run-up that peaked earlier in the summer. "It is now evident that speculators in the energy futures markets play a much larger role than previously thought, and it is now even harder to accept the agency's laughable assertion that excessive speculation has not contributed to rising energy prices," said Rep. John D. Dingell (D-Mich.).

Are Our Leading Pediatricians Drug Industry Shills?
2008-07-13, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/07/12/IN7G11L6TL.DTL

Most parents have never heard of him, but Joseph Biederman of Harvard may be the United States' most influential doctor when it comes to determining whether their children are normal or mentally ill. In 1996, for example, Biederman suggested that drugs like Ritalin might serve 10 percent of American kids for Attention Deficit Hyperactivity Disorder. By 2004, one in nine 11-year-old boys was taking the drug. Biederman and his team also are more responsible than anyone for a child bipolar epidemic sweeping America (and no other country) that has 2-year-olds on three or four psychiatric drugs. The science of children's psychiatric medications is so primitive and Biederman's influence so great that when he merely mentions a drug during a presentation, tens of thousands of children within a year or two will end up taking that drug, or combination of drugs. This happens in the absence of a drug trial of any kind - instead, the decision is based upon word of mouth among the 7,000 child psychiatrists in America. That's why [the] recent revelation that Biederman did not declare $1.6 million in drug company consulting fees is so important, scary and tragic. American medicine, with psychiatry the most culpable, has fallen back to a time more than 100 years ago. Now once again, drug company money is corrupting medical practice and the maintenance of our country's health. Virtually all doctors who receive drug company money say they are not influenced, but every independent study examining the effects of such money says they are.

Note: For lots more on health issues from reliable, verifiable sources, click here.

The Global Ruling Class: Billion-dollar Babies
2008-04-24, The Economist magazine
http://www.economist.com/books/displaystory.cfm?story_id=11081878

Who rules the world? The rise of nation states produced national ruling classes. It would be odd if the current integration of the world economy did not produce new global elites — business people and financiers who run global companies and global politicians who steer supra-national organisations such as the European Union (EU) and the International Monetary Fund. David Rothkopf, a visiting scholar at the Carnegie Endowment for International Peace, argues that these elites constitute nothing less than a new global “superclass”. They have all the clubby characteristics of the old national ruling classes, but with the vital difference that they operate on the global stage, far from mere national electorates. They attend the same universities. They are groomed in a handful of world-spanning institutions such as Goldman Sachs. They belong to the same clubs — the Council on Foreign Relations in New York is a particular favourite — and sit on each other's boards of directors. Many of them shuttle between the public and private sectors. They meet at global events such as the World Economic Forum at Davos and the Trilateral Commission or — for the crème de la crème — the Bilderberg meetings or the Bohemian Grove seminars that take place every July in California. Mr Rothkopf is anything but a crank, and he is right when he says that, these days, the most influential people around the world are also the most global people. He is also admirably ambivalent about his subject. He worries about surging inequality — the richest 1% of humans own 40% of the planet's wealth — and about the rumbling backlash against so much unaccountable power.

Note: For reliable, verifiable information the secret societies of which the global elite are a part, click here. Superclass: The Global Power Elite and the World They Are Making by David Rothkopf is available here.

Derivatives the new 'ticking bomb'
2008-03-10, MarketWatch (Part of the Wall Street Journal's digital network)
http://www.marketwatch.com/story/derivatives-are-the-new-ticking-time-bomb

"In our view, however, derivatives are financial weapons of mass destruction, carrying dangers that, while now latent, are potentially lethal." That warning was in [Warren] Buffett's 2002 letter to Berkshire shareholders. He saw a future that many others chose to ignore. Wall Street didn't listen to Buffett. Derivatives grew into a massive bubble, from about $100 trillion to $516 trillion by 2007. Despite Buffett's clear warnings, a massive new derivatives bubble is driving the domestic and global economies, a bubble that continues growing today parallel with the subprime-credit meltdown triggering a bear-recession. Data on the five-fold growth of derivatives to $516 trillion in five years comes from the most recent survey by the Bank of International Settlements, the world's clearinghouse for central banks in Basel, Switzerland. Keep in mind that while the $516 trillion "notional" value (maximum in case of a meltdown) of the deals is a good measure of the market's size, the 2007 BIS study notes that the $11 trillion "gross market values provides a more accurate measure of the scale of financial risk transfer taking place in derivatives markets." The fact is, derivatives have become the world's biggest "black market," exceeding the illicit traffic in stuff like arms, drugs, alcohol, gambling, cigarettes, stolen art and pirated movies. Why? Because like all black markets, derivatives are a perfect way of getting rich while avoiding taxes and government regulations. And in today's slowdown, plus a volatile global market, Wall Street knows derivatives remain a lucrative business.

Note: $516 trillion is equivalent to $75,000 for every man, woman, and child in the world! Do you think the financial industry is out of control? For lots more powerful, reliable information on major banking manipulations, click here. For a powerful analysis describing just how crazy things have gotten and giving some rays of hope by researcher David Wilcock, click here.

Iraq corruption whistleblowers face penalties
2007-08-25, MSNBC/Associated Press
http://www.msnbc.msn.com/id/20430153/

One after another, the men and women who have stepped forward to report corruption in the massive effort to rebuild Iraq have been vilified, fired and demoted. Or worse. For daring to report illegal arms sales, Navy veteran Donald Vance says he was imprisoned by the American military in a security compound outside Baghdad and subjected to harsh interrogation methods. He had thought he was doing a good and noble thing when he started telling the FBI about the guns and the land mines and the rocket-launchers — all of them being sold for cash, no receipts necessary, he said. The buyers were Iraqi insurgents, American soldiers, State Department workers, and Iraqi embassy and ministry employees. The seller, he claimed, was the Iraqi-owned company he worked for, Shield Group Security Co. “It was a Wal-Mart for guns,” he says. “It was all illegal and everyone knew it.” So Vance says he blew the whistle, supplying photos and documents and other intelligence to an FBI agent in his hometown of Chicago because he didn’t know whom to trust in Iraq. For his trouble, he says, he got 97 days in Camp Cropper, an American military prison outside Baghdad. Congress gave more than $30 billion to rebuild Iraq, and at least $8.8 billion of it has disappeared. “If you do it, you will be destroyed,” said William Weaver, professor of political science at the University of Texas-El Paso and senior advisor to the National Security Whistleblowers Coalition. “Reconstruction is so rife with corruption. Sometimes people ask me, ‘Should I do this?’ And my answer is no. If they’re married, they’ll lose their family. They will lose their jobs. They will lose everything,” Weaver said.

U.S. health care is bad for your health
2007-06-03, San Francisco Chronicle (San Francisco's leading newspaper)
http://sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/06/03/EDGHQP1J6K1.DTL

[A new] study ... finds that not only is the U.S. health care system the most expensive in the world (double that of the next most costly comparator country, Canada) but comes in dead last in almost any measure of performance. Although U.S. political leaders are fond of stating that we have the best health-care system in the world, they fail to acknowledge an important caveat: It is the best only for the very rich. For the rest of the population, its deficits far outweigh its advantages. [The] study compared the United States with Australia, Canada, Germany, New Zealand and the United Kingdom. Although the most notable way in which the United States differs from the other countries is in the absence of universal coverage, the United States is also last on dimensions of access, patient safety, efficiency and equity. The other five countries considered spend considerably less on health care, both per capita and as a percent of gross domestic product, than the United States. The United States spends $7,000 per person per year on health care, almost double that of Australia, Canada and Germany, each of which achieve better results on health status indicators than the United States. The United States also lags behind all industrialized nations in terms of health coverage. 46.6 million Americans (about 15.9 percent of the population) had no health insurance coverage during 2005. It is no wonder, then, that medical bills are overwhelmingly the most common reason for personal bankruptcy in the United States.

Note: For a treasure trove of reliable information on health, click here.

Cars that make hybrids look like gas guzzlers
2007-03-04, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/03/04/ING44OD4AS1.DTL

Toyota Prius owners tend to be a proud lot since they drive the fuel-efficient hybrid gas-electric car that's ... one of the hottest-selling vehicles in America. A few, however, felt that good was not good enough. They've made "improvements" even though the modifications voided parts of their warranties. Why? Five words: one hundred miles per gallon. "We took the hybrid car to its logical conclusion," [Felix] Kramer says, by adding more batteries and the ability to recharge by plugging into a regular electrical socket at night. Compared with the Prius' fuel efficiency of 50 mpg, plug-in hybrids use half as much gasoline by running more on cleaner, cheaper, domestic electricity. These trendsetters monkeyed with the car ... to make a point: If they could make a plug-in hybrid, the major car companies could, too. Kramer ... and a cadre of volunteers formed the California Cars Initiative (online at calcars.org). They added inexpensive lead-acid batteries ... giving the car over 100 mpg in local driving and 50 to 80 mpg on the highway. The cost of conversion is about $5,000 for a do-it-yourselfer. Several small companies like EnergyCS ... started doing small numbers of conversions for fleets and government agencies using longer-lasting, more energy-dense lithium-ion batteries. Kramer hired EnergyCS to convert his Prius and reported on a typical day of driving. Compared with driving his Prius before the conversion, he ... spewed out two-thirds less greenhouse gases at a total cost of $1.76 for electricity and gasoline, instead of the $3.17 it would have required on gasoline alone. People want plug-in hybrids but can't get them. Dealers don't sell them yet, and the few conversion services cater to fleets.

Note: For a video and educational package to guide those who want to build a 100 mpg car, see www.eaa-phev.org. For why the car companies with their massive budgets haven't developed cars like this, click here.

Nazis rode to war on GM wheels
2007-01-07, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/01/07/INGPHNCLHH1.DTL

In the late spring of 1933, concentration camps such as Dachau were generating headlines reporting great brutality. Nonetheless, GM and Germany began a strategic business relationship. General Motors World, the company house organ, covered [a 1934] May Day event glowingly in a several-page cover story, stressing Hitler's boundless affinity for children. The next day, May 2, 1934, after practicing his sieg heil in front of a mirror, [President of GM Overseas Corp. James] Mooney ... went to meet Hitler. As Mooney traversed the long approach to Hitler's desk, he began to pump his arm in a stern-faced sieg heil. This was ... one of many contacts between the Nazis and GM officials that are spotlighted in thousands of pages of little-known and restricted Nazi-era and New Deal-era documents. The biggest automotive manufacturer in Germany -- indeed in all of Europe -- was General Motors, which since 1929 had owned and operated the longtime German company Opel. A few weeks after the [Hitler meeting], General Motors World effusively recounted ... "Hitler is a strong man, well fitted to lead the German people. He is leading them, not by force or fear, but by intelligent planning." In 1937, almost 17 percent of Opel's Blitz trucks were sold directly to the Nazi military. That military sales figure was increased to 29 percent in 1938. In 1938, just months after the Nazi annexation of Austria, Mooney, head of GM's overseas operations, received the German Eagle with Cross, the highest medal Hitler awarded to foreign commercial collaborators and supporters.

Eli Lilly Said to Play Down Risk of Top Pill
2006-12-17, New York Times
http://www.nytimes.com/2006/12/17/business/17drug.html

The drug maker Eli Lilly has engaged in a decade-long effort to play down the health risks of Zyprexa, its best-selling medication for schizophrenia, according to hundreds of internal Lilly documents and e-mail messages among top company managers. The documents ... show that Lilly executives kept important information from doctors about Zyprexa’s links to obesity and its tendency to raise blood sugar — both known risk factors for diabetes. Lilly’s own published data, which it told its sales representatives to play down in conversations with doctors, has shown that 30 percent of patients taking Zyprexa gain 22 pounds or more after a year on the drug, and some patients have reported gaining 100 pounds or more. But Lilly was concerned that Zyprexa’s sales would be hurt if the company was more forthright about the fact that the drug might cause unmanageable weight gain or diabetes, according to the documents, which cover the period 1995 to 2004. Zyprexa has become by far Lilly’s best-selling product, with sales of $4.2 billion last year, when about two million people worldwide took the drug. Critics, including the American Diabetes Association, have argued that Zyprexa, introduced in 1996, is more likely to cause diabetes than other widely used schizophrenia drugs. As early as 1999, the documents show that Lilly worried that side effects from Zyprexa, whose chemical name is olanzapine, would hurt sales. “Olanzapine-associated weight gain and possible hyperglycemia is a major threat to the long-term success of this critically important molecule,” Dr. Alan Breier wrote in a November 1999 e-mail message to two-dozen Lilly employees.

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

Blowing the Whistle on Big Oil
2006-12-03, New York Times
http://www.nytimes.com/2006/12/03/business/yourmoney/03whistle.html?ex=132280...

During a 22-year career, Bobby L. Maxwell routinely won accolades and awards as one of the Interior Department’s best auditors in the nation’s oil patch. “Mr. Maxwell’s career has been characterized by exceptional performance and significant contributions,” wrote Gale A. Norton, then the secretary of the interior, in a 2003 citation. Less than two years later, the Interior Department eliminated his job. That came exactly one week after a federal judge in Denver unsealed a lawsuit in which Mr. Maxwell contended that a major oil company had spent years cheating on royalty payments. Invoking a law that rewards private citizens who expose fraud against the government, Mr. Maxwell has filed a suit [which] contends that the Interior Department ignored audits indicating that Kerr-McGee was cheating. Maxwell says his first serious doubts about the Interior Department originated in 1998, when the agency reluctantly began to investigate accusations of systematic cheating on royalties for oil. Several of the nation’s biggest oil companies eventually settled that investigation by paying nearly $440 million. Mr. Maxwell said, “There have always been people who don’t want to pursue things. But now it’s grown into a major illness.” Broader investigations by Congress and the Interior Department’s own inspector general [are investigating] whether the agency properly collects the money for oil and gas pumped from public land. The Interior Department’s inspector general told a House subcommittee in September that senior officials at the agency had repeatedly glossed over ethical lapses. “Short of crime, anything goes at the highest levels of the Department of the Interior,” declared Earl E. Devaney, the inspector general.

Note: If you want to understand how corruption can grow and fester in large government agencies, this entire article is highly educational and revealing.

Experts Concerned as Ballot Problems Persist
2006-11-26, New York Times
http://www.nytimes.com/2006/11/26/us/politics/26vote.html?ex=1322197200&en=0d...

After six years of technological research, more than $4 billion spent by Washington on new machinery and a widespread overhaul of the nation’s voting system, this month’s midterm election revealed that the country is still far from able to ensure that every vote counts. Tens of thousands of voters, scattered across more than 25 states, encountered serious problems at the polls. The difficulties led to shortages of substitute paper ballots and long lines that caused many voters to leave without casting ballots. Voting experts say it is impossible to say how many votes were not counted that should have been. In Florida alone, the discrepancies ... amount to more than 60,000 votes. In Colorado, as many as 20,000 people gave up trying to vote ... as new online systems for verifying voter registrations crashed repeatedly. In Arkansas, election officials tallied votes three times in one county, and each time the number of ballots cast changed by more than 30,000. Election experts say that with electronic voting machines, the potential consequences of misdeeds or errors are of a [great] magnitude. A single software error can affect thousands of votes, especially with machines that keep no paper record. In Ohio, thousands of voters were turned away or forced to file provisional ballots by poll workers puzzled by voter-identification rules. In Pennsylvania, the machines crashed or refused to start, producing many reports of vote-flipping [where] voters press the button for one candidate but a different candidate’s name appears on the screen. In Ohio, even a congressman, Steve Chabot, a Republican, was turned away from his polling place because the address listed on his driver’s license was different than his home address.

Drug Industry Is on Defensive as Power Shifts
2006-11-24, New York Times
http://www.nytimes.com/2006/11/24/washington/24drug.html?ex=1322024400&en=55e...

Hoping to prevent Congress from letting the government negotiate lower drug prices for millions of older Americans on Medicare, the pharmaceutical companies have been recruiting Democratic lobbyists [and] lining up allies in the Bush administration and Congress. Many drug company lobbyists concede that the House is likely to pass a bill intended to drive down drug prices, but they are determined to block such legislation in the Senate. If that strategy fails, they are counting on President Bush to veto any bill that passes. With 49 Republicans in the Senate next year, the industry is confident that it can round up the 34 votes normally needed to uphold a veto. They began developing strategy last week at a meeting of the board of the Pharmaceutical Research and Manufacturers of America. Billy Tauzin, president of that group [and] a former congressman...met with Senator Byron L. Dorgan, a North Dakota Democrat who has been trying for six years to allow drug imports from Canada. The industry vehemently opposes such legislation. The 2003 Medicare law prohibits the federal government from negotiating drug prices or establishing a list of preferred drugs. Drug makers have not set a budget for their campaign. They and their trade groups already spend some $100 million a year on lobbying in Washington. Representative Frank Pallone Jr., Democrat of New Jersey [said] “The 2003 Medicare law was essentially written by the drug industry.” Drug companies may be open to some changes in the Medicare drug benefit, but they say they cannot accept any form of price negotiation.

Note: For lots of verifiable information on the power of the drug industry to corrupt Congress, click here.

Protesters challenge the powerful at exclusive California retreat
2006-07-22, San Francisco Chronicle
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2006/07/22/state/n163157D01.DTL

Hundreds of protesters gathered outside an exclusive California retreat for government and business leaders Saturday to challenge the right of a "ruling elite" to make policy decisions without public scrutiny. The annual Bohemian Grove retreat has attracted powerful men such as Ronald Reagan, George Bush, former Secretary of State Henry Kissinger, philanthropist David Rockefeller, former West German Chancellor Helmut Schmidt and former House Speaker Newt Gingrich. It's also become a magnet for all types of activists who increasingly use the event to network and organize their campaigns. The men who attend the Bohemian Grove retreat spend two weeks performing plays, eating gourmet camp grub, listening to speakers and power-bonding at the 2,700-acre compound near the Russian River in Sonoma County. The retreat is organized by the exclusive San Francisco-based Bohemian Club. The club and event are shrouded in mystery, much like Yale University's most-famous secret society, Skull and Bones, whose members include President George W. Bush and his presidential rival Sen. John Kerry.

Note: This article strangely has been removed from the San Francisco Chronicle website. To see it in the Internet Archive, click here. For an informative five-minute ABC news clip on the power elite gathering Bohemian Grove reported in 1981, click here. And for reliable information on the most secretive meeting of the world's elite reported by the major media, see our Bilderberg Group compilation available here.

Fans of GM Electric Car Fight the Crusher
2005-03-10, Washington Post
http://www.washingtonpost.com/ac2/wp-dyn/A21991-2005Mar9

What's at stake, they say, is no less than the future of automotive technology, a practical solution for driving fast and fun with no direct pollution whatsoever. GM agrees that the car in question, called the EV1, was a rousing feat of engineering that could go from zero to 60 miles per hour in under eight seconds with no harmful emissions. The market just wasn't big enough, the company says, for a car that traveled 140 miles or less on a charge before you had to plug it in like a toaster. Some 800 drivers once leased EV1s, mostly in California. After the last lease ran out in August, GM reclaimed every one of the cars, donating a few to universities and car museums but crushing many of the rest. Enthusiasts discovered a stash of about 77 surviving EV1s behind a GM training center in Burbank and last month decided to take a stand. Mobilized through Internet sites and word of mouth, nearly 100 people pledged $24,000 each for a chance to buy the cars from GM. On Feb. 16 the group set up a street-side outpost of folding chairs that they have staffed ever since in rotating shifts, through long nights and torrential rains, trying to draw attention to their cause. GM refuses to budge. Toyota is aware of a growing fad among do-it-yourselfers who put a new battery in their Prius so it can be plugged in at home and then travel about 20 miles on electric power alone.

Note: Why would GM simply crush cars for which people are willing to pay $24,000? For a possible answer to this important question, click here. To learn how to convert a Toyota Prius to get 100 mpg, click here.

Indicting the Drug Industry's Practices
2004-09-06, New York Times
http://www.nytimes.com/2004/09/06/books/06masl.html?ex=1252209600&en=1accf3fe...

Dr. Marcia Angell is a former editor in chief of The New England Journal of Medicine and spent two decades on the staff of that publication. Her new book is a scorching indictment of drug companies and their research and business practices. "Despite all its excesses, this is an important industry that should be saved - mainly from itself," she writes. Dr. Angell's case is tough, persuasive and troubling. "The Truth About the Drug Companies" ... is devoted to assertions of shady, misleading corporate behavior. In the past, drug discoveries made through government research remained in the public domain. Beginning in 1980 those breakthroughs could be patented, even if their research was sponsored by the National Institutes of Health. As a consequence, Dr. Angell says, patent shenanigans have reshaped the drug business, as have the recent government regulations that expedite direct-to-consumer drug advertising. "Once upon a time, drug companies promoted drugs to treat diseases," Dr. Angell writes. "Now it is often the opposite. They promote diseases to fit their drugs." Why all the advertising? "If prescription drugs are so good, why do they need to be pushed so hard?" she asks. Dr. Angell is now a senior lecturer at Harvard Medical School.

Note: For an excellent 10-page summary of this revealing book written by the esteemed author, click here. For more reliable information on the health cover-up, click here.

Skull And Bones
2004-06-13, CBS News
http://www.cbsnews.com/stories/2003/10/02/60minutes/main576332.shtml

As opposite as George Bush and John Kerry may seem to be, they do share a common secret - one they've shared for decades. The secret: details of their membership in Skull and Bones, the elite Yale University society whose members include some of the most powerful men of the 20th century. Bonesmen, as they're called, are forbidden to reveal what goes on in their inner sanctum. Bones has included presidents, cabinet officers, spies, Supreme Court justices, [and] captains of industry. They'd responded to questions with utter silence until an enterprising Yale graduate, Alexandra Robbins, managed to penetrate the wall of silence in her book, Secrets of the Tomb. "I spoke with about 100 members of Skull and Bones. They were members who were tired of the secrecy,” says Robbins. “But probably twice that number hung up on me, harassed me, or threatened me.” Skull and Bones, with all its ritual and macabre relics, was founded in 1832. Since then, it has chosen or "tapped" only 15 senior students a year who become ... lifetime members of the ultimate old boys' club. A lot of Bonesmen have gone on to positions of great power. President Bush ... tapped five fellow Bonesmen to join his administration. Bonesmen have [included] William Howard Taft, the 27th President; Henry Luce, the founder of Time Magazine; and W. Averell Harriman, the diplomat and confidant of U.S. presidents. Mr. Bush, like his father and grandfather before him, has refused to talk openly about Skull and Bones. But as a Bonesman, he was required to reveal his innermost secrets to his fellow Bones initiates. They're supposed to recount their entire sexual histories in ... a dimly-lit cozy room.

Note: For a highly revealing, four-minute CNN News clip on Skull and Bones, click here. For other major media news clips reporting on this powerful secret society, click here. And for lots more reliable information from major media sources on powerful, secret groups like this, click here.

Eugenics and the Nazis -- the California connection
2003-11-09, San Francisco Chronicle (San Francisco's leading newspaper)
http://articles.sfgate.com/2003-11-09/opinion/17517477_1_eugenics-ethnic-clea...

Hitler and his henchmen victimized an entire continent and exterminated millions in his quest for a so-called Master Race. But the concept of a white, blond-haired, blue-eyed master Nordic race didn't originate with Hitler. The idea was created in the United States, and cultivated in California, decades before Hitler came to power. Eugenics would have been so much bizarre parlor talk had it not been for extensive financing by corporate philanthropies, specifically the Carnegie Institution, the Rockefeller Foundation and the Harriman railroad fortune. They were all in league with some of America's most respected scientists from such prestigious universities as Stanford, Yale, Harvard and Princeton. These academicians espoused race theory and race science, and then faked and twisted data to serve eugenics' racist aims. Stanford President David Starr Jordan originated the notion of "race and blood" in his 1902 racial epistle "Blood of a Nation," in which the university scholar declared that human qualities and conditions such as talent and poverty were passed through the blood. The Rockefeller Foundation helped found the German eugenics program and even funded the program that Josef Mengele worked in before he went to Auschwitz.

Note: Josef Mengele's US-funded eugenics research laid the foundation for his experimentation on human subjects before and during World War II. He went on to participate in CIA-funded mind-control experimentation after that war. For more on Mengele, click here.

Moore Asks Inquiry Into Charges on Preparedness Campaign
1917-02-14, New York Times
http://query.nytimes.com/gst/abstract.html?res=9504E7DA1538EE32A25757C1A9649C...

A demand for an investigation of charges printed in the Congressional Record by Representative Oscar Callaway of Texas, a pacifist Democrat, that “the J.P. Morgan interests, the steel shipbuilding, and powder interests” had purchased control of twenty-five great newspapers to further the preparedness campaign, was made in the House today by Representative J. Hampton Moore, a Pennsylvania Republican. Mr. Callaway’s speech, as inserted in The Record charged: “In March, 1915, the J.P. Morgan interests, the steel, shipbuilding and powder interests, and their subsidiary organizations got together twelve men high up in the newspaper world and employed them to select from the most influential papers in the United States in sufficient numbers of them to control generally the policy of the daily press of the United States. They found it was only necessary to purchase the control of twenty-five of the greatest newspapers. [An] editor was furnished for each paper to properly supervise and edit information regarding the questions of preparedness, militarism, financial policies and other things of national and international nature considered vital to the interests of the purchasers. The policy also included the suppression of everything in opposition to the wishes of the interests served."

Note: For more showing how the media is controlled by carefully selected people placed by big money and the power elite, click here and here. For a short video of Congressional testimony from the 1970s proving CIA media manipulation, click here. The full text of this revealing article is available free at this link.

Insurance profits soar after health care overhaul
2012-01-06, San Francisco Chronicle/Bloomberg News
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2012/01/05/BUUH1MLB31.DTL

Insurance companies spent millions of dollars trying to defeat the U.S. health care overhaul, saying it would raise costs and disrupt coverage. Instead, profit margins at the companies widened to levels not seen since before the recession, a Bloomberg Government study shows. Insurers led by WellPoint ... recorded their highest combined quarterly net income of the past decade after the law was signed in 2010, said Peter Gosselin, the study author. "The industry that was the loudest, most persistent critic of this law, the industry whose analysts and executives predicted it would suffer immensely because of the law, has thrived," Gosselin said. Health insurers contributed $86.2 million to the U.S. Chamber of Commerce to oppose the law after Obama administration officials criticized the [corporations'] plans for enriching themselves by raising customer premiums. Companies are changing their business focus to gain from provisions in the law that will expand the size of Medicaid, the $401 billion government health plan for the poor.

Note: Is it surprising that health insurance companies are raking in big profits from the new health care legislation?

Japan releases ambitious 40-year roadmap to fully close crippled Fukushima nuclear plant
2011-12-20, Washington Post/Associated Press
http://www.washingtonpost.com/world/asia-pacific/japan-releases-new-40-year-p...

Japan’s government [has said] that it could take 40 years to clean up and fully decommission [the Fukushima reactors]. Plant operator Tokyo Electric Power Co. will start removing spent fuel rods within two to three years from their pools. After that is completed, TEPCO will start removing the melted fuel, most of which is believed to have fallen to the bottom of the core or even down to the bottom of the larger, beaker-shaped containment vessel, a process that is expected to begin in 10 years and [be] completed 25 years from now. Completely decommissioning the plant would require five to 10 more years after the fuel debris removal, making the entire process up to 40 years. The process still requires the development of robots and technology that can do much of the work remotely because of extremely high radiation levels inside the reactor buildings. The operator and the government would also have to ensure a stable supply of workers and save them from exceeding exposure limits while keeping the long process going. They also have to figure out ways to access each containment vessel and assess the extent of damage, as well as locate holes and cracks through which cooling water is leaking and flooding the area. Another problem is huge volume of radioactive waste and debris that will come out of the plant during its dismantling process. Officials said they have not decided what to do with them and that part is not covered by the 40-year roadmap.

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

Medical Journal Article: 14,000 U.S. Deaths Tied to Fukushima Reactor Disaster Fallout
2011-12-19, Sacramento Bee (the leading newspaper of California's capitol)
http://www.sacbee.com/2011/12/19/4132989/medical-journal-article-14000.html

An estimated 14,000 excess deaths in the United States are linked to the radioactive fallout from the disaster at the Fukushima nuclear reactors in Japan, according to a major new article in the December 2011 edition of the International Journal of Health Services. This is the first peer-reviewed study published in a medical journal documenting the health hazards of Fukushima. Authors Joseph Mangano and Janette Sherman note that their estimate of 14,000 excess U.S. deaths in the 14 weeks after the Fukushima meltdowns is comparable to the 16,500 excess deaths in the 17 weeks after the Chernobyl meltdown in 1986. The rise in reported deaths after Fukushima was largest among U.S. infants under age one. The 2010-2011 increase for infant deaths in the spring was 1.8 percent, compared to a decrease of 8.37 percent in the preceding 14 weeks. The IJHS article [is] available online ... at http://www.radiation.org. Internist and toxicologist Janette Sherman, MD, said: "Based on our continuing research, the actual death count [in the US] may be as high as 18,000, with influenza and pneumonia, which were up five-fold in the period in question as a cause of death. Deaths are seen across all ages, but we continue to find that infants are hardest hit because their tissues are rapidly multiplying, they have undeveloped immune systems, and the doses of radioisotopes are proportionally greater than for adults."

Note: To read the report (in pdf format) on excess mortality in the US already caused by the Fukushima meltdowns, click here.

OCC’s Quarterly Report on Bank Trading and Derivatives Activities: Third Quarter 2011
2011-12-01, OCC (U.S. Office of the Comptroller of the Currency, Administrator of National Banks)
http://www.occ.gov/topics/capital-markets/financial-markets/trading/derivativ...

The OCC’s quarterly report on trading revenues and bank derivatives activities is based on Call Report information provided by all insured U.S. commercial banks and trust companies, reports filed by U.S. financial holding companies, and other published data. The notional amount of derivatives held by insured U.S. commercial banks decreased $1.4 trillion, or 0.6%, from the second quarter of 2011 to $248 trillion. Notional derivatives are 5.7% higher than at the same time last year. Derivatives activity in the U.S. banking system continues to be dominated by a small group of large financial institutions. Five large commercial banks represent 96% of the total banking industry notional amounts. Insured commercial banks have more limited legal authorities than do their holding companies.

Note: Graphs in this report show that the holding companies for the top five banks also control massive amounts of derivates totaling $326 trillion! The holding companies JPMorgan Chase, BofA, Morgan Stanley, Citigroup, and Goldman Sachs have over $311 trillion in derivates, 95% of the total U.S. market. So these banks and their holding companies combined own $532 trillion in derivates, equivalent to roughly $75,000 for every person on the planet. What are the bankers doing? If the above link fails, click here.

Reactor Core Melted Fully, Japan Says
2011-12-01, Wall Street Journal
http://online.wsj.com/article/SB10001424052970204262304577069302835999204.html

Japan's tsunami-stricken nuclear-power complex came closer to a catastrophic meltdown than previously indicated by its operator [which on November 30] described how one reactor's molten nuclear core likely burned through its primary containment chamber and then ate as far as three-quarters of the way through the concrete in a secondary vessel. The [new] assessment—offered by Japan's government and Tokyo Electric Power Co., ... marked Japan's most sobering reckoning to date of the nuclear disaster sparked by the country's March 11 earthquake and tsunami. But it came nearly six months after U.S. and international nuclear experts and regulators had reached similar conclusions. For the first time, Tokyo Electric ... said that nuclear-fuel rods in the complex's No. 1 reactor had likely melted completely, burning through their so-called pressure vessel and then boring through concrete at the bottom of a second containment vessel. That brought the fuel closer than previously believed to breaching the containment vessel and foundation and continuing to burn through the ground below — a scenario sometimes described as the "China Syndrome." The findings are the latest reminder of how much remains unknown about the extent of the mid-March Fukushima Daiichi accident.

Note: For further information on the developing understanding of the severity of the meltdowns at Fukushima, see these reports at The Guardian and The New York Times. For key reports from major media sources on corporate and government corruption, click here and here.

Retired Supreme Court Judge shoved up against a wall and threatened by NYPD at Occupy Wall Street clashes
2011-11-20, Daily Mail (One of the UK's largest-circulation newspapers)
http://www.dailymail.co.uk/news/article-2063716/You-want-arrested-lady-The-re...

A retired New York Supreme Court judge has claimed she was manhandled by a policeman after watching him beat a woman at the Zuccotti Park raids. Karen Smith was working as a legal observer when she saw a distressed woman pushed to the ground and beaten by an officer, she said. When she demanded he [stop], the unidentified cop pushed her against a wall and threatened her with arrest. Ms Smith had attended the raids ... to note down the names of people arrested as the Occupy Wall Street camp was cleared. She was wearing a fluorescent green baseball cap bearing the words 'National Lawyers Guild Legal Observer' to show she was not taking part in the protests. Ms Smith, who was also carrying a pad and pen, said the incident happened at around 1.30am on Tuesday at Dey Street and Broadway Street in New York City. Speaking to Democracy Now, she described the scene as ‘a paramilitary operation if there ever was one’. It was ‘what we call a stealth eviction’, she added. Ms Smith explained her son had participated in Occupy Wall Street and she had been ‘very concerned’ about his safety.

Note: We don't normally use the UK's Daily Mail as a reliable source, but as no other major media are reporting this story, we felt it warranted inclusion. The judge gives her own testimony in a video near the bottom of the article.

OTC derivatives market activity in the first half of 2011
2011-11-16, Bank for International Settlements (Intergovernmental organization of central banks)
http://www.bis.org/press/p111116a.htm

After an increase of only 3% in the second half of 2010, total notional amounts outstanding of over-the-counter (OTC) derivatives rose by 18% in the first half of 2011, reaching $708 trillion by the end of June 2011.

Note: The Bank for International Settlements (BIS) is an intergovernmental organization of central banks which "fosters international monetary and financial cooperation and serves as a bank for central banks." It is not accountable to any national government. Their accounting shows a total global derivates market controlled by the banks of over $700 trillion. That's $100,000 for every man, woman, and child on the planet. As reported in Reuters, the derivates market is largely unregulated. Do you think there is any manipulation going on here? BIS helps the bankers to work together to keep their hidden power.

Cost, need questioned in $433-million smallpox drug deal
2011-11-13, Los Angeles Times
http://www.latimes.com/news/nationworld/nation/la-na-smallpox-20111113,0,4293...

Over the last year, the Obama administration has aggressively pushed a $433-million plan to buy an experimental smallpox drug, despite uncertainty over whether it is needed or will work. Senior officials have taken unusual steps to secure the contract for New York-based Siga Technologies Inc., whose controlling shareholder is billionaire Ronald O. Perelman, one of the world's richest men. Siga ... was the only company asked to submit a proposal. The contract calls for Siga to deliver 1.7 million doses of the drug for the nation's biodefense stockpile. The price of approximately $255 per dose is well above what the government's specialists had earlier said was reasonable. Once feared for its grotesque pustules and 30% death rate, smallpox was eradicated worldwide as of 1978 and is known to exist only in the locked freezers of a Russian scientific institute and the U.S. government. There is no credible evidence that any other country or a terrorist group possesses smallpox. If there were an attack, the government could draw on $1 billion worth of smallpox vaccine it already owns to inoculate the entire U.S. population and quickly treat people exposed to the virus. The vaccine, which costs the government $3 per dose, can reliably prevent death when given within four days of exposure.

Note: This is pure and blatant corruption to pad the pockers of Siga and those involved. For key reports from reliable sources on government corruption, click here. For more on corrupt drug companies, click here.

Did You Hear the One About the Bankers?
2011-10-30, New York Times
http://www.nytimes.com/2011/10/30/opinion/sunday/friedman-did-you-hear-the-on...

Citigroup had to pay a $285 million fine to settle a case in which, with one hand, Citibank sold a package of toxic mortgage-backed securities to unsuspecting customers — securities that it knew were likely to go bust — and, with the other hand, shorted the same securities — that is, bet millions of dollars that they would go bust. It doesn’t get any more immoral than this. James Stewart, a business columnist for The [New York] Times, noted that Citigroup’s flimflam made “Goldman Sachs mortgage traders look like Boy Scouts.” This gets to the core of why all the anti-Wall Street groups around the globe are resonating. Our financial industry has grown so large and rich it has corrupted our real institutions through political donations. Our Congress today is a forum for legalized bribery. One consumer group using information from Opensecrets.org calculates that the financial services industry, including real estate, spent $2.3 billion on federal campaign contributions from 1990 to 2010, which was more than the health care, energy, defense, agriculture and transportation industries combined. Why are there 61 members on the House Committee on Financial Services? So many congressmen want to be in a position to sell votes to Wall Street.

Note: For lots more from major media sources on the collusion between financial interests and government, click here.

Ex-Abramoff associate Ring sentenced to 20 months in 1 of scandal’s harshest punishments
2011-10-26, Washington Post/Associated Press
http://www.washingtonpost.com/politics/former-abramoff-associate-faces-possib...

A former lobbyist who was a rising star under Jack Abramoff’s tutelage was sentenced ... to nearly two years in prison for giving public officials meals and event tickets. Kevin Ring argued up until his emotional sentencing hearing that he was operating in a corrupt Washington environment controlled by people with money and that he did not break the law. U.S. District [Judge] Ellen Segal Huvelle said Ring’s conduct was not nearly as egregious as ringleader Abramoff or some of the others involved in a scandal that resulted in stricter lobbying rules in Washington. But the judge gave Ring a sentence of 20 months, one of the stiffest terms among the 21 defendants in the investigation. Most others involved cooperated with prosecutors and got plea deals that avoided prison. Huvelle said she did not consider Ring’s conduct [nearly as] bad as that of Abramoff and his business partner, Michael Scanlon, who bilked their American Indian tribal clients out of $20 million in fees, or former Rep. Bob Ney, who accepted golf and gambling trips, tickets to sporting events, free meals and campaign donations. But Abramoff, Scanlon and Ney all reached plea agreements with prosecutors that helped cut their sentences while Ring fought at trial. His sentence ranks with theirs — Abramoff got 48 months, Ney 30 months and Scanlon also was sentenced to 20 months.

Note: A petty thief steals three times for a total value of a few thousand dollars and by the "three strikes" law ends up in jail for life. Abramoff, along with his assistants, successfully corrupt U.S. Senators and Congress members and serve less than four years in jail. Many get off with no jail time. Is the US justice system biased towards the rich?

'Occupy Wall Street' -- It's Not What They're for, But What They're Against
2011-10-14, Fox News
http://www.foxnews.com/opinion/2011/10/14/understanding-occupy-wall-street/

Critics of the growing Occupy Wall Street movement complain that the protesters don’t have a policy agenda and, therefore, don’t stand for anything. They're wrong. The key isn’t what protesters are for but rather what they’re against -- the gaping inequality that has poisoned our economy, our politics and our nation. In America today, 400 people have more wealth than the bottom 150 million combined. That’s not because 150 million Americans are pathetically lazy or even unlucky. In fact, Americans have been working harder than ever -- productivity has risen in the last several decades. Big business profits and CEO bonuses have also gone up. Worker salaries, however, have declined. Most of the Occupy Wall Street protesters [want] an end to the crony capitalist system now in place, that makes it easier for the rich and powerful to get even more rich and powerful while making it increasingly hard for the rest of us to get by. The question is not how Occupy Wall Street protesters can find that gross discrepancy immoral. The question is why every one of us isn’t protesting with them. According to polls, most Americans support the 99% movement, even if they’re not taking to the streets.

Note: For lots more on the reasons why people all over the world are occupying their city centers, check out our "Banking Bailout" news articles.

Can Liberals and Libertarians Find Common Ground?
2011-10-12, Forbes.com
http://www.forbes.com/sites/benzingainsights/2011/10/12/can-liberals-and-libe...

The Occupy Wall Street movement has the potential to turn into a political firestorm. We have become so divided as a nation that it is very difficult to prognosticate if anything good will come out of these protests from a political perspective. Let’s examine a number of issues that have been raised by Occupy Wall Street, the Tea Party and liberals and libertarians and see where there is agreement. Get Corporate Money Out Of Politics – This is the issue that really kick started Occupy Wall Street. Americans are sick and tired of mega-corporations and Wall Street banks being in bed with our politicians in Washington D.C. End the Federal Reserve – The Federal Reserve is directly responsible for the Too Big To Fail banking cartel, the U.S. debt, the perpetual deficits, and ... the Fed has also robbed the poor and working class blind as a result of their inflationary policies. End The Wars – The American people are fed up with these conflicts, and even large percentages of the military believe that the wars in both Iraq and Afghanistan were not worth fighting in the first place. It is time for our troops to come home. End The Drug War - The drug war is an absolute failed policy. The U.S. incarcerates a higher percentage of its population than any country on Earth, yet we call ourselves “The Home of the Free.” Repeal The Patriot Act – The assault on our civil liberties in the wake of 9/11 has been swift and draconian. These are the types of things that go on in totalitarian states, and now, apparently the United States as well.

Note: For lots more from major media sources on the reasons why people worldwide are occupying the financial centers of their cities, check out our "Banking Bailout" news articles.

Goldman Sachs let off paying £10m interest on failed tax avoidance scheme
2011-10-11, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/business/2011/oct/11/goldman-sachs-interest-tax-avo...

Britain's tax authorities have given Goldman Sachs an unusual and generous Christmas present, leaked documents reveal. In a secret London meeting last December with the head of Revenue, the wealthy Wall Street banking firm was forgiven £10m interest on a failed tax avoidance scheme. HM Revenue and Customs sources admit privately that the interest-free deal is "a cock-up" by officials, but refuse to say who was responsible. Documents leaked to Private Eye magazine and published in full by the Guardian record that Britain's top tax official, HMRC's permanent secretary Dave Hartnett, personally shook hands on a secret settlement last December. Hartnett also refused to give the facts about Goldman Sachs to MP Jesse Norman on the Treasury committee last month, claiming disclosure would be illegal. He also refuses to brief ministers on the details. The £10m Christmas gift for Goldman was the culmination of a prolonged attempt by the US firm to avoid paying national insurance on huge bonuses for its bankers working in London. The sum was pocket change to Goldman, whose employees received $15.3bn (£9.5bn) in pay and bonuses last year.

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

World facing worst financial crisis in history, Bank of England Governor says
2011-10-06, The Telegraph (One of the UK's leading newspapers)
http://www.telegraph.co.uk/finance/financialcrisis/8812260/World-facing-worst...

The world is facing the worst financial crisis since at least the 1930s “if not ever”, the Governor of the Bank of England said last night. Sir Mervyn King was speaking after the decision by the Bank’s Monetary Policy Committee to put £75billion of newly created money into the economy in a desperate effort to stave off a new credit crisis and a UK recession. Economists said the Bank’s decision to resume its quantitative easing [QE] showed it was increasingly fearful for the economy, and predicted more such moves ahead. Sir Mervyn said the Bank had been driven by growing signs of a global economic disaster. “This is the most serious financial crisis we’ve seen, at least since the 1930s, if not ever. We’re having to deal with very unusual circumstances, but to act calmly to this and to do the right thing.” Announcing its decision, the Bank said that the eurozone debt crisis was creating “severe strains in bank funding markets and financial markets”. Financial experts said the committee’s actions would be a “Titanic” disaster for pensioners, savers and workers approaching retirement. Under QE, the Bank electronically creates new money which it then uses to buy assets such as government bonds, or gilts, from banks. By increasing the demand for gilts, QE pushes down the interest rate yields paid to holders of these and other bonds. Critics of the policy say it pushes up inflation and drives down sterling.

Note: For lots more on the global financial crisis from reliable sources, click here.

Tony Blair 'visited Libya to lobby for JP Morgan'
2011-09-18, The Telegraph (One of the UK's leading newspapers)
http://www.telegraph.co.uk/news/politics/tony-blair/8772418/Tony-Blair-visite...

Tony Blair used visits to Libya after he left office to lobby for business for the American investment bank JP Morgan. New questions over Tony Blair's ties to Col Muammar Gaddafi and his role in the release of the Lockerbie bomber have emerged from documents discovered in Tripoli. A senior executive with the Libyan Investment Authority, the $70 billion fund used to invest the country's oil money abroad, said Mr Blair was one of three prominent western businessmen who regularly dealt with Saif al-Islam Gaddafi, son of the former leader. Saif al-Islam and his close aides oversaw the activities of the fund, and often directed its officials on where they should make its investments, he said. The executive, speaking on condition of anonymity, said officials were told the "ideas" they were ordered to pursue came from Mr Blair as well as one other British businessman and a former American diplomat. "Tony Blair's visits were purely lobby visits for banking deals with JP Morgan," he said. Documents found by The Sunday Telegraph published this weekend showed Mr Blair had made at least three visits to Tripoli, twice in the lead-up to the release of the alleged Lockerbie bomber Abdelbaset Ali Megrahi in 2008 and 2009 and once last year. On the first two occasions he was flown to the country on planes arranged by Col Gaddafi.

Note: For a two-page summary of US Marine Corps General Smedley Butler's explanation of the profiteering behind modern wars, click here. For key reports on corporate and government corruption from major media sources, click here and here.

Why the Fukushima disaster is worse than Chernobyl
2011-08-29, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/news/world/asia/why-the-fukushima-disaster-is-wo...

The triple meltdown and its aftermath at the Fukushima nuclear power plant [have] elevated Japan into unknown, and unknowable, terrain. Across the northeast, millions of people are living with its consequences and searching for a consensus on a safe radiation level that does not exist. Experts give bewilderingly different assessments of its dangers. Some scientists say Fukushima is worse than the 1986 Chernobyl accident, with which it shares a maximum level-7 rating on the sliding scale of nuclear disasters. Chris Busby, a professor at the University of Ulster ... said the disaster would result in more than 1 million deaths. "Fukushima is still boiling its radionuclides all over Japan," he said. "Chernobyl went up in one go. So Fukushima is worse." Slowly, steadily, and often well behind the curve, the government has worsened its prognosis of the disaster. Last Friday, scientists affiliated with the Nuclear and Industrial Safety Agency said the plant had released 15,000 terabecquerels of cancer-causing Cesium, equivalent to about 168 times the 1945 atomic bombing of Hiroshima, the event that ushered in the nuclear age. [But] Professor Busby says the release is at least 72,000 times worse than Hiroshima.

Note: For key reports on corporate and government corruption from major media sources, click here and here.

The explosive truth behind Fukushima's meltdown
2011-08-17, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/news/world/asia/the-explosive-truth-behind-fukus...

It is one of the mysteries of Japan's ongoing nuclear crisis: How much damage did the 11 March earthquake inflict on the Fukushima Daiichi reactors before the tsunami hit? The stakes are high: if the earthquake structurally compromised the plant and the safety of its nuclear fuel, then every similar reactor in Japan may have to be shut down. Throughout the months of lies and misinformation, one story has stuck: it was the earthquake that knocked out the plant's electric power, halting cooling to its six reactors. The tsunami then washed out the plant's back-up generators 40 minutes later, shutting down all cooling and starting the chain of events that would cause the world's first triple meltdown. But what if recirculation pipes and cooling pipes burst after the earthquake – before the tidal wave reached the facilities; before the electricity went out? This would surprise few people familiar with the 40-year-old reactor one, the grandfather of the nuclear reactors still operating in Japan. Problems with the fractured, deteriorating, poorly repaired pipes and the cooling system had been pointed out for years. In September 2002, Tepco admitted covering up data about cracks in critical circulation pipes.

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

New leukemia treatment exceeds 'wildest expectations'
2011-08-10, MSNBC
http://www.msnbc.msn.com/id/44090512/ns/health-cancer/t/new-leukemia-treatmen...

Doctors have treated only three leukemia patients, but the sensational results from a single shot could be one of the most significant advances in cancer research in decades. Doctors at the University of Pennsylvania say the treatment made the most common type of leukemia completely disappear in two of the patients and reduced it by 70 percent in the third. In each of the patients as much as five pounds of cancerous tissue completely melted away in a few weeks, and a year later it is still gone. The results of the preliminary test “exceeded our wildest expectations,” says immunologist Dr. Carl June a member of the Abramson Cancer Center's research team. Chemotherapy and radiation can hold this form of leukemia at bay for years, but until now the only cure has been a bone marrow transplant. A bone marrow transplant requires a suitable match, works only about half the time, and often brings on severe, life-threatening side effects such as pain and infection. So why has this remarkable treatment been tried so far on only three patients? Both the National Cancer Institute and several pharmaceutical companies declined to pay for the research. Neither applicants nor funders discuss the reasons an application is turned down.

Note: For key reports from reliable sources on hopeful new cancer treatments, click here.

How Paul Stephenson and PM fell out over hacking scandal
2011-07-18, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/media/2011/jul/18/david-cameron-paul-stephenson-hac...

David Cameron flew abroad last night for a long-arranged trip to Africa leaving behind the carnage inside Britain's most important police force, tumult inside the news organisation with which he has closest links, and open disdain from his deputy prime minister, Nick Clegg, over his appointment of Andy Coulson to No 10. The "firestorm" he himself described is still raging, and as the body count rises in the form of arrests or resignations, he looks increasingly exposed. Every day as the crisis continues, his judgment, and that of the chancellor, George Osborne, in appointing the former editor of the News of the World Andy Coulson as his director of communications looks increasingly inexplicable. The problems Cameron faces come from all directions. There is no evidence that the Conservative party either in the Home Office or in the London mayoralty of Boris Johnson took seriously the suggestion, repeatedly raised by Labour, that the connections between News International and the Met were unhealthy. Thirdly, the record of meetings between Cameron and News International executives released on Friday does not reveal a modernising prime minister governing in the national interest, but a victim of a vested interest. His meetings with News International executives in a year exceed those with all other news organisations put together. Not a single figure from the BBC was granted an audience.

Note: For key reports from major media sources on corporate and government corruption, click here and here.

Scotland Yard Chief Quits Over Hacking in Britain
2011-07-18, New York Times
http://www.nytimes.com/2011/07/18/world/europe/18hacking.html

Britain’s top police official resigned on [July 17], the latest casualty of the phone-hacking scandal engulfing British public life, just hours after Rebekah Brooks, the former chief executive of Rupert Murdoch’s News International, was arrested on suspicion of illegally intercepting phone calls and bribing the police. The official, Sir Paul Stephenson, commissioner of the Metropolitan Police Service, commonly known as the Met or Scotland Yard, said that he had decided to step down [but] that he had done nothing wrong and that he would not “lose sleep over my personal integrity.” The commissioner’s resignation came as the London political establishment was still digesting the stunning news about the arrest of Ms. Brooks — who apparently was surprised herself. A consummate networker who has always been assiduously courted by politicians and whose friends include Prime Minister David Cameron, Ms. Brooks, 43, is the 10th and by far the most powerful person to be arrested so far in the phone-hacking scandal. The arrest was a shock to the News Corporation, the parent company of News International, and the other properties in Mr. Murdoch’s media empire, which is reeling from the traumas of last week: the forced withdrawal of its cherished $12 billion takeover bid for British Sky Broadcasting and the resignations not only of Ms. Brooks but also of Les Hinton, a longtime Murdoch ally and friend who was the chairman of Dow Jones and the publisher of The Wall Street Journal.

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

Phone hacking: Police probe suspected deletion of emails by NI executive
2011-07-08, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/media/2011/jul/08/phone-hacking-emails-news-interna...

Police are investigating evidence that a News International executive may have deleted millions of emails from an internal archive in an apparent attempt to obstruct Scotland Yard's inquiry into the phone-hacking scandal. The archive is believed to have reached back to January 2005, revealing daily contact between News of the World editors, reporters and outsiders, including private investigators. A senior executive is believed to have deleted "massive quantities" of the archive on two separate occasions, leaving only a fraction to be disclosed. The allegation directly contradicts NI claims that it is co-operating fully with police in order to expose its history of illegal newsgathering. Rupert Murdoch is planning to fly into London on [July 9] to confront the crisis. The scandal brought a number of arrests on [July 8], with the prime minister's former PR chief Andy Coulson held under suspicion of involvement in phone hacking. As he was released on bail, he told reporters: "There is an awful lot I would like to say, but I can't at this time." Clive Goodman, the NoW's former royal reporter, was also arrested in relation to the alleged payment of bribes to police, and subsequently bailed.

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

A little house of secrets on the Great Plains
2011-06-28, MSN/Reuters News
http://money.msn.com/business-news/article.aspx?feed=OBR&date=20110628&id=138...

The secretive business havens of Cyprus and the Cayman Islands face a potent rival: Cheyenne, Wyoming. At a single address in this sleepy city of 60,000 people, more than 2,000 companies are registered. The building, 2710 Thomes Avenue, isn't a shimmering skyscraper filled with A-list corporations. It's a 1,700-square-foot brick house with a manicured lawn, a few blocks from the State Capitol. A Reuters investigation has found the house at 2710 Thomes Avenue serves as a little Cayman Island on the Great Plains. It is the headquarters for Wyoming Corporate Services, a business-incorporation specialist that establishes firms which can be used as "shell" companies, paper entities able to hide assets. Wyoming Corporate Services will help clients create a company, and more: set up a bank account for it; add a lawyer as a corporate director to invoke attorney-client privilege; even appoint stand-in directors and officers as high as CEO. Among its offerings is a variety of shell known as a "shelf" company, which comes with years of regulatory filings behind it, lending a greater feeling of solidity. All the activity at 2710 Thomes is part of a little-noticed industry in the U.S.: the mass production of paper businesses. Scores of mass incorporators like Wyoming Corporate Services have set up shop.

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

Nuke plant averts shutdown from swelled Missouri
2011-06-20, CBS News/Associated Press
http://www.cbsnews.com/stories/2011/06/20/national/main20072590.shtml

The bloated Missouri River rose to within 18 inches of forcing the shutdown of a nuclear power plant in southeast Nebraska but stopped and ebbed slightly [on June 20], after several levees in northern Missouri failed to hold back the surging waterway. The river has to hit 902 feet above sea level at Brownville before officials will shut down the Cooper Nuclear Plant, which sits at 903 feet, Nebraska Public Power District spokesman Mark Becker said. Becker said the river rose to 900.56 feet at Brownville on Sunday, then dropped to 900.4 feet later in the day and remained at that level Monday morning. The Cooper Nuclear Plant is operating at full capacity Monday, Becker said. The Columbus-based utility sent a "notification of unusual event" to the Nuclear Regulatory Commission when the river rose to 899 feet early Sunday morning. The declaration is the least serious of four emergency notifications established by the federal commission. The Cooper Nuclear Station is one of two plants along the Missouri River in eastern Nebraska. The Fort Calhoun Station, operated by the Omaha Public Power District, is about 20 miles north of Omaha. It issued a similar alert to the regulatory commission June 6.

Note: This same plant narrowly avoided a shutdown just a couple weeks prior due to an electrical fire. For the AP article on this, click here. On Monday, June 27, floodwaters collapsed a berm protecting the plant and flooded a building onsite. Authorities, however, still claim there are no dangers.

Nuclear fuel has melted through base of Fukushima plant
2011-06-09, The Telegraph (One of the UK's leading newspapers)
http://www.telegraph.co.uk/news/8565020/Nuclear-fuel-has-melted-through-base-...

The nuclear fuel in three of the reactors at the Fukushima Dai-Ichi nuclear plant has melted through the base of the pressure vessels and is pooling in the outer containment vessels, according to a report by the Japanese government. The findings of the report, which has been given to the International Atomic Energy Agency, were revealed by the Yomiuri newspaper, which described a "melt-through" as being "far worse than a core meltdown" and "the worst possibility in a nuclear accident." Water that was pumped into the pressure vessels to cool the fuel rods, becoming highly radioactive in the process, has been confirmed to have leaked out of the containment vessels and outside the buildings that house the reactors. Elevated levels of radiation have been confirmed in the ocean off the plant. The radiation will also have contaminated the soil and plant and animal life around the facility, making the task of cleaning up more difficult and expensive, as well as taking longer. The pressure vessel of the No. 1 reactor is now believed to have suffered damage just five hours after the March 11 earthquake and tsunami. Melt-downs of the fuel in the No. 2 and No. 3 reactors followed over the following days with the molten fuel collecting at the bottom of the pressure vessels before burning through and into the external steel containment vessels.

Note: The UK Telegraph has been consistently reporting the bad news about the Fukushima catastrophe, but many other major media outlets have not kept the spotlight on this vital issue. Could that be because they are protecting the nuclear industry and its plans for expansion from the fallout of public opinion?

Nuclear meltdown at Fukushima plant
2011-05-12, The Telegraph (One of the UK's leading newspapers)
http://www.telegraph.co.uk/news/worldnews/asia/japan/8509502/Nuclear-meltdown...

One of the reactors at the crippled Fukushima Daiichi power plant did suffer a nuclear meltdown, Japanese officials admitted for the first time today, describing a pool of molten fuel at the bottom of the reactor's containment vessel. Engineers from the Tokyo Electric Power company (Tepco) entered the No.1 reactor at the end of last week for the first time and saw the top five feet or so of the core's 13ft-long fuel rods had been exposed to the air and melted down. Now the company is worried that the molten pool of radioactive fuel may have burned a hole through the bottom of the containment vessel, causing water to leak. Tepco has not clarified what other barriers there are to stop radioactive fuel leaking if the steel containment vessel has been breached. Greenpeace said the situation could escalate rapidly if "the lava melts through the vessel". However, an initial plan to flood the entire reactor core with water to keep its temperature from rising has now been abandoned because it might exacerbate the leak. Tepco said ... that it had sealed a leak of radioactive water from the No.3 reactor after water was reportedly discovered to be flowing into the ocean. A similar leak had discharged radioactive water into the sea in April from the No.2 reactor. Greenpeace said significant amounts of radioactive material had been released into the sea and that samples of seaweed taken from as far as 40 miles of the Fukushima plant had been found to contain radiation well above legal limits.

Note: Why hasn't the Japanese government's admission of the meltdown of nuclear reactors at Fukushima been more widely reported in the press? Are the major media burying this story because of the potential harm it will do to plans for the expansion of the nuclear power industry?

Exxon Leads Defense of Oil Tax Breaks Democrats Want to Repeal
2011-05-11, San Francisco Chronicle/Bloomberg
http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2011/05/11/bloomberg1376-LL1...

Exxon Mobil Corp. Chief Executive Officer Rex W. Tillerson and four counterparts defended $21 billion in U.S. tax breaks that Democrats are seeking to recapture to reduce the federal deficit. Senate Democrats are proposing to raise oil and gas taxes by about $2 billion a year for 10 years, arguing that widening deficits are a threat to the economy and sacrifice is required. College students are giving up federal help, and so should the companies, said Senator Charles Schumer, a New York Democrat. "We have to choose priorities and right now we have a huge budget deficit," Schumer said to ConocoPhillips CEO James Mulva. "Do you think that your subsidy is more important than the financial aid that we give to students to go to college?" To build their case, Democrats have cited rising gasoline prices and quarterly earnings reports that put the five companies on pace to generate more than $125 billion in profits this year, which would be a record. The Democrats' proposal would raise about $13 billion by blocking the five largest oil and gas companies from receiving a domestic-manufacturing deduction for exploration and extraction in the U.S. The Senate Democrats' proposal would generate $6.5 billion by curtailing the oil companies' ability to claim tax credits for royalty payments made to foreign governments.

Note: We are paying near-record prices for gas, while the oil companines are making record profits, just as they did when gas prices spiked several years ago. So why are oil companies still getting tax breaks?

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

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

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

How a big US bank laundered billions from Mexico's murderous drug gangs
2011-04-03, The Observer (One of the UK's leading newspapers)
http://www.guardian.co.uk/world/2011/apr/03/us-bank-mexico-drug-gangs

During a 22-month investigation by agents from the US Drug Enforcement Administration, the Internal Revenue Service and others [beginning in 2006], it emerged [that drug cartels had laundered huge sums of money] through one of the biggest banks in the United States: Wachovia, now part of the giant Wells Fargo. In March 2010, Wachovia settled the biggest action brought under the US bank secrecy act, through the US district court in Miami. Now that the year's "deferred prosecution" has expired, the bank is in effect in the clear. The bank was sanctioned for failing to apply the proper anti-laundering strictures to the transfer of $378.4bn – a sum equivalent to one-third of Mexico's gross national product – into dollar accounts from ... currency exchange houses with which the bank did business. [The case demonstrates] the role of the "legal" banking sector in swilling hundreds of billions of dollars – the blood money from the murderous drug trade in Mexico and other places in the world – around their global operations, now bailed out by the taxpayer. At the height of the 2008 banking crisis, Antonio Maria Costa, then head of the United Nations office on drugs and crime, said he had evidence to suggest the proceeds from drugs and crime were "the only liquid investment capital" available to banks on the brink of collapse. "Inter-bank loans were funded by money that originated from the drugs trade," he said. "There were signs that some banks were rescued that way."

Note: For lots more from reliable sources on the illegal activities routinely engaged in by the largest banks and financial corporations, click here.

Transocean Execs Get Bonuses after ‘Best Year in Safety,’ Despite Gulf Oil Disaster
2011-04-02, Forbes blog
http://blogs.forbes.com/jeffmcmahon/2011/04/02/transocean-bonuses-deepwater-h...

Transocean Ltd., owner of the Deepwater Horizon oil rig, awarded millions of dollars in bonuses to its executives after “the best year in safety performance in our company’s history,” according to an annual report and proxy statement released yesterday. Eleven people were killed, including nine Transocean employees, in the April 20 explosion and collapse of the rig, which gushed crude oil into the Gulf of Mexico for 86 days. “Notwithstanding the tragic loss of life in the Gulf of Mexico, we achieved an exemplary statistical safety record as measured by our total recordable incident rate and total potential severity rate,” Transocean states in the filing. Transocean President and Chief Executive Officer Steven L. Newman received about $4.3 million in cash bonuses and stock and option awards. With other compensation—such as pension increases and cost of living, housing, and automobile allowances—Newman earned $6.6 million in 2010, almost $1 million more than in 2009. His base salary, $900,000 in 2010, will increase 22 percent to $1.1 million in 2011. Transocean built and staffed the Deepwater Horizon. It was leased by BP, which denied most executives bonuses in 2010. In justifying the bonuses, Transocean cites the increased burden on executives of responding to the spill.

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

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

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

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

Ultrasound at $59,490 Is Outrage in Aetna Claim Against Doctors
2011-03-24, Bloomberg/BusinessWeek
http://www.businessweek.com/news/2011-03-24/ultrasound-at-59-490-is-outrage-i...

Aetna Inc. is suing six New Jersey doctors over medical bills it calls “unconscionable,” including $56,980 for a bedside consultation and $59,490 for an ultrasound that typically costs $74. The lawsuits could help determine what pricing limits insurers can impose on ”out-of-network” physicians who don’t have contracts with health plans that spell out how much a service or procedure can cost. One defendant billed $30,000 for a Caesarean birth, and another raised his fee for seeing a critically ill patient in a hospital to $9,000 in 2008 from $500 the year before, the insurer alleges in the suits. Aetna tried in 2007 to impose caps on some out-of-network payments, prompting doctor complaints to the New Jersey Department of Banking and Insurance. The agency sided with the doctors, fined the company $2.5 million, and ordered it to pay out-of-network practitioners enough so that patients wouldn’t be asked to pay balances other than co-pays. In 2009, Aetna, UnitedHealth Group Inc., Cigna Corp. and WellPoint Inc. were accused by the New York attorney general of underpaying out-of-network physicians by manipulating a database used to calculate payments. They paid a total of $90 million in settlements without admitting wrongdoing. UnitedHealthcare agreed that year to pay $350 million to settle a lawsuit by the American Medical Association over the same issues. Similar AMA lawsuits against Aetna, Cigna and Wellpoint are pending.

Note: Is the American health care system out of control? For lots more from reliable sources on corporate corruption, click here.

U.S. Declines to Give Details on Radiation
2011-03-19, Wall Street Journal
http://online.wsj.com/article/SB10001424052748704608504576208840531837916-sea...

U.S. government officials, in private sessions on Capitol Hill [on Friday, March 18], repeatedly declined to give details of radiation measurements at the stricken Japanese nuclear complex, saying the situation is shrouded in a "fog of war." Separately, the Obama administration said ... "miniscule quantities" of radiation from the Japanese nuclear accident were detected Friday at a monitoring station in Sacramento, Calif., a day after similar traces of radiation were detected in Washington state. The administration said the levels of the radioactive isotope xenon 133 were approximately equivalent to one-millionth the dose received from the sun, rocks or other natural sources. The Obama administration's reluctance to detail in public what it is learning from radiation-detection operations around the damaged Fukushima Daiichi complex in Japan ... comes after statements Wednesday by the head of the U.S. Nuclear Regulatory Commission that painted a grimmer picture of the nuclear crisis than Japanese officials had offered, and suggested that the U.S. didn't trust the information coming from the Japanese government.

Note: Shouldn't the title be something more like "U.S. Refuses to Give Radiation Details for Fear of Industry Repercussions"? How sad that money often continues to trump public health in matters like this.

The Michigan Monarchy Legislates Financial Martial Law -- Nation Yawns
2011-03-18, Forbes blog
http://blogs.forbes.com/rickungar/2011/03/18/the-michigan-monarchy-legislates...

This week, the Michigan legislature passed – and the governor signed into law – a bill that would permit Governor Rick Snyder to push aside elected city officials and replace them with emergency financial managers in any municipality or school district facing financial difficulties. The law would include virtually every town and city in the state as those cities that aren’t bankrupt already soon will be once the governor’s proposed budget – which cuts billions in aid to municipalities and school districts – is approved by the legislature. One of the most shocking, Draconian, democracy-destroying measures in the history of this country has became law – and the nation has seemingly slept through it. The new law, described by one of the GOP legislators sponsoring the bill as “financial martial law”, empowers the governor’s appointees [referred to as ‘Emergency Financial Managers’] to fire duly elected local officials, cancel labor contracts and even dissolve entire communities and school districts. This is about so much more than collective bargaining agreements and unions. This law gives an appointee of the governor – which, by the way, may be a corporation – the authority to dismiss any or all of a municipality’s elected government officials.

Note: For a treasure trove of reports by major media sources on the collusion between government and financial powers against the public interest, click here.

Bungling, cover-ups define Japanese nuclear industry
2011-03-17, MSNBC/Associated Press
http://www.msnbc.msn.com/id/42129558/ns/business-world_business

Behind Japan's escalating nuclear crisis sits a scandal-ridden energy industry in a comfy relationship with government regulators often willing to overlook safety lapses. Leaks of radioactive steam and workers contaminated with radiation are just part of the disturbing catalog of accidents that have occurred over the years and been belatedly reported to the public, if at all. In one case, workers hand-mixed uranium in stainless steel buckets, instead of processing by machine, so the fuel could be reused, exposing hundreds of workers to radiation. Two later died. "Everything is a secret," said Kei Sugaoka, a former nuclear power plant engineer in Japan who now lives in California. "There's not enough transparency in the industry." In 1989 Sugaoka received an order that horrified him: edit out footage showing cracks in plant steam pipes in video being submitted to regulators. Sugaoka alerted his superiors in the Tokyo Electric Power Co., but nothing happened — for years. He decided to go public in 2000. Three Tepco executives lost their jobs. The legacy of scandals and cover-ups over Japan's half-century reliance on nuclear power has strained its credibility with the public. That mistrust has been renewed this past week with the crisis at the Fukushima Dai-Ichi plant. The vagueness and scarcity of details offered by the government and Tepco — and news that seems to grow worse each day — are fueling public anger and frustration.

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

Fukushima: Mark 1 Nuclear Reactor Design Caused GE Scientist To Quit In Protest
2011-03-15, ABC News
http://abcnews.go.com/Blotter/fukushima-mark-nuclear-reactor-design-caused-ge...

Thirty-five years ago, Dale G. Bridenbaugh and two of his colleagues at General Electric resigned from their jobs after becoming increasingly convinced that the nuclear reactor design they were reviewing -- the Mark 1 -- was so flawed it could lead to a devastating accident. Five of the six reactors at the Fukushima Daiichi plant, which has been wracked since Friday's earthquake with explosions and radiation leaks, are Mark 1s. "The problems we identified in 1975 were that, in doing the design of the containment, they did not take into account the dynamic loads that could be experienced with a loss of coolant," Bridenbaugh [said]. "The impact loads the containment would receive by this very rapid release of energy could tear the containment apart and create an uncontrolled release." Questions persisted for decades about the ability of the Mark 1 to handle the immense pressures that would result if the reactor lost cooling power. In 1986, for instance, Harold Denton, then the director of NRC's Office of Nuclear Reactor Regulation, spoke critically about the design during an industry conference. Today that design is being put to the ultimate test in Japan.

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

America's favorite bankers have outdone themselves yet again
2011-01-30, CNN
http://finance.fortune.cnn.com/2011/01/30/money-for-nothing-at-goldman/

How might you compensate management for a year in which profits plunged, you spent $550 million of shareholder money to settle a fraud investigation and your stock ended up more or less exactly where it started? You might be tempted to nix raises or withhold bonuses to send a responsible message about linking pay to performance. But if so, you wouldn't be Goldman Sachs. It just had the year described above – and responded by tripling everyone's base salary while boosting bonuses by 40%. Is this a great country or what? Goldman said in a filing [on January 28] that CEO Lloyd Blankfein will make $2 million this year, and his top lieutenants will each make $1.85 million. Top Goldman brass had been making $600,000 annually in salary since the firm's 1999 initial public offering. All 470 of Goldman's partners will get higher salaries. The top five officers will also get $12.6 million each in bonuses. That's up from $9 million each last year. That may seem like a high price to pay for a pretty lousy year – and one that ended with a Fed-inspired reminder that Goldman, just in case anyone forgot, took billions upon billions of dollars in bailout loans in 2008 and 2009.

Note: For key articles from reliable sources detailing the outrageous compensation awarded to the highest officers of Wall Street financial corporations after they were bailed out by the government, click here.

The state's pedlars of fear must be brought to account
2011-01-11, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/commentisfree/2011/jan/11/police-reform-mark-stone-...

[Mark] Kennedy moved from undercover agent to agent provocateur. He worked for a murky organisation called the National Public Order Intelligence Unit (NPOIU). With a budget of £5m this operates as a branch of the National Domestic Extremism Unit (NDEU) which, in turn, works alongside the National Extremism Tactical Co-ordination Unit (NETCU). Ask where this stands, and you will be told it reports to the Association of Chief Police Officers' Terrorism and Allied Matters Committee, codenamed Acpo(TAM). Kennedy's bosses in the NPOIU work for Acpo, but this is not what it seems. It is not, as its name suggests, the police officers' staff club, nor is it a public body of any sort. [ACPO] is a private company, incorporated in 1997. It is sub-contracted by Whitehall to operate the police end of the government's counterterrorism and "anti-extremism" strategies. It is thus alongside MI5, but even less accountable. It now runs its own police forces under a police chief boss, Sir Hugh Orde, like a British FBI. It trades on its own account, generating revenue by selling data from the police national computer for £70 an item (cost of retrieval, 60p). It owns an estate of 80 flats in central London. As a private company, Acpo need not accede to Freedom of Information requests and presumably could distribute its profit to its own board. The whole operation is reminiscent of the deals set up by the Pentagon with private firms to run the Iraq and Afghan wars, free of publicity or accountability.

Note: For further information on the amazing undercover career of UK agent provocateur Mark Kennedy, click here and here and here.

When Insurers Put Profits Between Doctor and Patient
2011-01-06, New York Times
http://www.nytimes.com/2011/01/06/health/views/06chen.html

In articles, interviews, op-eds and testimony on Capitol Hill, Wendell Potter has described the dark underbelly of the health care insurance industry — unkept promises of care, canceled coverage of those who get sick and fearmongering campaigns designed to quash any change that might adversely affect profits. He should know what he is talking about. For 20 years, Mr. Potter was the head of corporate communications at two major insurers, first at Humana and then at Cigna. Now Mr. Potter has written a fascinating book that details the methods he and his colleagues used to manipulate public opinion and describes his transformation from the idealistic son of working-class parents in eastern Tennessee to top insurance company executive, to vocal critic and industry watchdog. Using little of the fiery rhetoric or lurid prose that usually marks corporate exposés or memoirs of redemption, the book, Deadly Spin ... is an evenhanded yet riveting account of the inner workings of the health care insurance industry, a cautionary tale that doctors and patients would be wise not to miss. Mr. Potter [describes] the myth-making he did, interspersing descriptions of front groups, paid spies and jiggered studies with a deft retelling of the convoluted (and usually eye-glazing) history of health care insurance policies.

Note: Mr. Potter has written a powerful condemnation of health care industry practices at this link. For other major media articles on this courageous whistleblower, click here. And for other highly informative reports on important health issues, click here.

Glaxo Whistle-Blower Lawsuit: Bad Medicine
2011-01-02, CBS News 60 Minutes
http://www.cbsnews.com/stories/2010/12/29/60minutes/main7195247.shtml

Of all the things that you trust every day, you want to believe your prescription medicine is safe and effective. The pharmaceutical industry says that it follows the highest standards for quality. But in November, we found out just how much could go wrong at one of the world's largest drug makers. A subsidiary of GlaxoSmithKline pleaded guilty to distributing adulterated drugs. Some of the medications were contaminated with bacteria, others were mislabeled, and some were too strong or not strong enough. It's likely Glaxo would have gotten away with it had it not been for a company insider: a tip from Cheryl Eckard set off a major federal investigation. Eckard worked in Glaxo quality control and over ten years she had risen to become a manager of global quality assurance. In 2002, Eckard was assigned to help lead a quality assurance team to evaluate one of Glaxo's most important plants, in Cidra, Puerto Rico. Nine hundred people worked there, making 20 drugs for patients in the U.S. But Eckard says that when she saw what was happening to some of the company's most popular drugs, she couldn't believe it. "All the systems were broken, the facility was broken, the equipment was broken, the processes were broken. It was the worst thing I had run across in my career," she [said]. As her team continued its evaluation of the plant, Eckard says ... that powerful medications were getting mixed up.

Note: For lots more on how this major pharmaceutical is endangering lives, watch the 60 Minutes video segment at the above link.

Senate panel ban seen as double standard
2010-12-19, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2010/12/18/AR20101218035...

Gordon R. England's appointment to a top Pentagon post in 2006 came at a high price. The Senate committee overseeing his confirmation demanded that he give up lucrative stocks and options he held in companies that do business with the military. England said he took a big hit on his taxes and lost out on more than $1 million in potential profits that year when he divested himself of interests in companies that included General Dynamics. If he had been a senator, he would not have had to sell anything. The Senate Armed Services Committee prohibits its staff and presidential appointees requiring Senate confirmation from owning stocks or bonds in 48,096 companies that have Defense Department contracts. But the senators who sit on the influential panel are allowed to own any assets they want. And they have owned millions in interests in these firms. The committee's prohibition is designed to prevent high-ranking Pentagon officials from using inside information to enrich themselves or members of their immediate family. But panel members have access to much of the same inside information, because they receive classified briefings from high-ranking defense officials about policy, contracts and plans for combat strategies and weapons systems. "I think Congress should live by the rules they impose on other people," said England, who served as deputy defense secretary under George W. Bush until 2009.

Note: Congress is amost always exempt from it's own rules, as further described in this powerful Time magazine article. This is one major source of rampant corruption in US government. For more on government corruption, click here.

Brooksley Born foresaw disaster but was silenced
2010-12-05, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/12/05/BUHC1GLHFA.DTL

There's a brief scene in "Inside Job," the locally produced documentary on the Great Financial Meltdown, in which a colleague of the head of the Commodity Futures Trading Commission in 1997 describes how "blood drained from her face" after receiving a phoned-in tongue-lashing from deputy Treasury Secretary Larry Summers. The target of Summers' wrath was Brooksley Born, ... the first female president of the Stanford Law Review and a recognized legal expert in the area of complex financial instruments. Her crime: Born had the temerity to push for regulation of the increasingly wild trading in derivatives, which, as we learned a decade later, helped bring the U.S. economy, and much of the world's, to its knees. Summers, with 13 bankers in his office, told Born to get off it "in a very grueling fashion," said the colleague. The story is told in much more detail in All the Devils are Here, the latest, but eminently worthwhile, book on the roots of the crisis, by Bethany McLean and ... Joe Nocera. It makes for dispiriting, even appalling, reading. Responding to growing evidence of manipulation and fraud in unregulated derivatives trading - "the hippopotamus under the rug," as Born and others referred to it - Born suggested the commission should perhaps be given some sort of oversight. She had a 33-page policy paper drawn up, full of questions and suggestions, like, for example, whether establishing a public exchange for derivatives might not be a bad idea. Responding to the policy paper, Summers, "screaming at her," according to the book, told Born the bankers sitting in his office "threatened to move their derivatives business to London," if she didn't stop.

Note: For key reports on financial fraud from reliable sources, click here.

Senator Bernie Sanders on the War Between the Shrinking Middle Class and the Wealthy
2010-11-30, U.S. Senate Testimony
http://sanders.senate.gov/newsroom/news/?id=c8f26b05-01e7-429f-a5e0-a9a6bd1a0f40

Mr. SANDERS. Mr. President, there is a war going on in this country, and I am not referring to the wars in Iraq or Afghanistan. I am talking about a war being waged by some of the wealthiest and most powerful people in this country against the working families of the United States of America, against the disappearing and shrinking middle class of our country. The reality is, many of the Nation's billionaires are on the warpath. They want more, more, more. Their greed has no end, and apparently there is very little concern for our country or for the people of this country if it gets in the way of the accumulation of more and more wealth and more and more power. The percentage of income going to the top 1 percent has nearly tripled