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 is there no website? Why, until a few years ago, was there virtually no reporting on this influential group in the major media? (Note that the alternative media has had some good articles and a Google search can be highly informative) For lots more reliable information on powerful, secret groups like this, 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.

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.

Where'd the Bailout Money Go? Shhhh, It's a Secret
2008-12-22, ABC News/Associated Press
http://abcnews.go.com/Business/wireStory?id=6508158

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.

A New Way to Fight Cancer?
2007-01-23, Newsweek
http://www.newsweek.com/id/70212

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: Thank you Newsweek for publishing 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 of this amazing potential cancer cure? Notice how even Newsweek acknowledges that the drug companies are not interested in finding a cure for cancer if they can't make a profit from it. Some suspect that the pharmaceutical industry has even suppressed cancer cures found in the past. For one amazing example of this, 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.

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 suppolies, 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.

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. For many more strange coincidences and facts around the avian flu scare, take a look at our summary of eye-opening news articles available here.

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.

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.

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.

Drugmakers, Doctors Rake in Billions Battling H1N1 Flu
2009-10-14, ABC News
http://abcnews.go.com/Business/big-business-swine-flu/story?id=8820642

Americans are still debating whether to roll up their sleeves for a swine flu shot, but companies have already figured it out: vaccines are good for business. Drug companies have sold $1.5 billion worth of swine flu shots, in addition to the $1 billion for seasonal flu they booked earlier this year. These inoculations are part of a much wider and rapidly growing $20 billion global vaccine market. "The vaccine market is booming," says Bruce Carlson, spokesperson at market research firm Kalorama, which publishes an annual survey of the vaccine industry. "It's an enormous growth area for pharmaceuticals at a time when other areas are not doing so well," he says. As always with pandemic flus, taxpayers are footing the $1.5 billion check for the 250 million swine flu vaccines that the government has ordered so far and will be distributing free to doctors, pharmacies and schools. In addition, Congress has set aside more than $10 billion this year to research flu viruses, monitor H1N1's progress and educate the public about prevention. Drugmakers pocket most of the revenues from flu sales. But some say it's not just drugmakers who stand to benefit. Doctors collect copayments for special office visits to inject shots, and there have been assertions that these doctors actually profit handsomely from these vaccinations. Pharmacies also charge co-payments or full price of about $25 to those without insurance.

Note: For a revealing article questioning the efficacy of vaccines, click here. And for a powerful CBS '60 Minutes' news clip clearly showing how the profit motive in vaccines endangers public health, 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.

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.

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.

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.

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.

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.

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?

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). The engine cuts out when the car stops, automatically and instantly restarting when you touch the accelerator to move off again. Energy that would be lost from braking is used to charge the car’s battery, and the body panels are made from biodegradable plastics. You will see more of these things in future Toyotas.

Note: If this article is no longer available at the link above, click here. So what happened to this amazing car? Why haven't we heard anything about it since the article was published in 2002? For an excellent essay which provides key information on this topic, including a detailed list of inventions which greatly improve gasoline mileage reported over the years in respected magazines, 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.

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.

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.

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.

‘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.

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.

Income Gap Is Widening, Data Shows
2007-03-29, New York Times
http://www.nytimes.com/2007/03/29/business/29tax.html?ex=1332820800&en=fb472e...

Income inequality grew significantly in 2005, with the top 1 percent of Americans — those with incomes that year of more than $348,000 — receiving their largest share of national income since 1928. The top 10 percent, roughly those earning more than $100,000, also reached a level of income share not seen since before the Depression. While total reported income in the United States increased almost 9 percent in 2005, the most recent year for which such data is available, average incomes for those in the bottom 90 percent dipped slightly compared with the year before, dropping $172, or 0.6 percent. The gains went largely to the top 1 percent, whose incomes rose to an average of more than $1.1 million each, an increase of more than $139,000, or about 14 percent. The new data also shows that the top 300,000 Americans collectively enjoyed almost as much income as the bottom 150 million Americans. The top group received 440 times as much as the average person in the bottom half earned, nearly doubling the gap from 1980. The disparities may be even greater. The [IRS] estimates that it is able to accurately tax 99 percent of wage income but that it captures only about 70 percent of business and investment income, most of which flows to upper-income individuals. For Americans in the middle, the share of income taken by federal taxes has been essentially unchanged across four decades. By comparison, it has fallen by half for those at the very top of the income ladder. [Incomes of] the top tenth of a percent and top one-hundredth of a percent ... soared by about a fifth in one year, largely because of the rising stock market and increased business profits.

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.

Richest Are Leaving Even the Rich Far Behind
2005-06-05, New York Times
http://www.nytimes.com/2005/06/05/national/class/HYPER-FINAL.html?ex=12756240...

It is no secret that the gap between the rich and the poor has grown, but the extent to which the richest are leaving everyone else behind is not widely known. The people at the top of America's money pyramid have so prospered in recent years that they have pulled far ahead of the rest of the population. They have even left behind people making hundreds of thousands of dollars a year. The share of the nation's income earned by those in this uppermost category has more than doubled since 1980, to 7.4 percent in 2002. The share of income earned by the rest of the top 10 percent rose far less, and the share earned by the bottom 90 percent fell. Under the Bush tax cuts, the 400 taxpayers with the highest incomes - a minimum of $87 million in 2000, the last year for which the government will release such data - now pay ... taxes amounting to virtually the same percentage of their incomes as people making $50,000 to $75,000. From 1950 to 1970 ... for every additional dollar earned by the bottom 90 percent, those in the top 0.01 percent earned an additional $162. From 1990 to 2002, for every extra dollar earned by those in the bottom 90 percent, each taxpayer at the top brought in an extra $18,000. An Internal Revenue Service study found that the only taxpayers whose share of taxes declined in 2001 and 2002 were those in the top 0.1 percent. Some of the wealthiest Americans, including Warren E. Buffett, George Soros and Ted Turner, have warned that such a concentration of wealth can turn a meritocracy into an aristocracy and ultimately stifle economic growth.

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.

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.

WHO to Study H1N1 Response Amid False Pandemic Debate
2010-01-13, BusinessWeek/Bloomberg News
http://www.businessweek.com/news/2010-01-12/who-to-review-swine-flu-response-...

The World Health Organization said it plans to conduct a review of its response to swine flu as policymakers in Europe prepare for an “urgent debate” on the influenza pandemic. Yesterday, the Parliamentary Assembly of the Council of Europe said “false pandemics, a threat to health” will be a major theme of its next plenary session. Health authorities worldwide are assessing whether their response to swine flu is justified by its threat as cases retreat in the U.S. and Western Europe. The new H1N1 virus, which has targeted children and younger adults, has so far resulted in fewer deaths than attributed to seasonal strains, which kills mostly the frail elderly. Council of Europe parliamentarian Wolfgang Wodarg said last week he and several colleagues had called for a commission of inquiry into a “false pandemic” and the way it was handled at national and European levels, claiming pressure from pharmaceutical firms. The WHO moved to the top level of its six-step pandemic alert in June after the discovery of swine flu in Mexico and the U.S. in April.

Note: BusinessWeek deleted this article days after posting it. Could someone have pressured them to do this? If you click the above link, the article is gone, though you can still see a promo here and read it on BusinessWeek in the Google cache available here. For a link to the article on the Bloomberg website, click here. For revealing reports of the corruption surrounding the swine flu and previous health scares, 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.

Libel gag on talk of 'medical hurricane'
2009-12-20, Times of London
http://business.timesonline.co.uk/tol/business/law/article6962816.ece

A healthcare firm is seeking to silence a Danish academic from expressing doubts about one of its products by using England’s draconian libel laws. Two years ago in a conference room in the Randolph hotel in Oxford, Henrik Thomsen ... one of Europe’s leading radiologists, revealed how patients treated at his hospital had subsequently contracted a rare and potentially fatal disease. Thomsen and other doctors at his Copenhagen University hospital were baffled as to why 20 kidney patients who had been given routine scans were afflicted by a disorder — nephrogenic systemic fibrosis (NSF) — in which the skin gradually swells, thickens and tightens. Some sufferers were confined to wheelchairs. At least one died. There was no known cure. It was confirmed that all those who had fallen ill with NSF had been given the same drug in advance of a magnetic resonance imaging (MRI) scan. Omniscan was used to enhance the images produced by the scan. The product was sold around the world and was manufactured by GE Healthcare, a subsidiary of General Electric, one of the world’s largest corporations. Thomsen ... now refuses to speak anywhere in England on the possible risks of Omniscan. The reason is that he faces another kind of storm: GE Healthcare is suing him in the High Court for libel. GE has already racked up costs of more than £380,000 pursuing the respected academic. Thomsen will have to pay the firm’s costs if he loses the case.

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

Advisers on Vaccines Often Have Conflicts
2009-12-18, New York Times
http://www.nytimes.com/2009/12/18/health/policy/18cdc.html

A new report finds that the Centers for Disease Control and Prevention did a poor job of screening medical experts for financial conflicts when it hired them to advise the agency on vaccine safety. Most of the experts who served on advisory panels in 2007 to evaluate vaccines for flu and cervical cancer had potential conflicts that were never resolved, the report said. Some were legally barred from considering the issues but did so anyway. In the report ... Daniel R. Levinson, the inspector general of the Department of Health and Human Services, found that the centers failed nearly every time to ensure that the experts adequately filled out forms confirming they were not being paid by companies with an interest in their decisions. The report found that 64 percent of the advisers had potential conflicts of interest that were never identified or were left unresolved by the centers. Thirteen percent failed to have an appropriate conflicts form on file at the agency at all, which should have barred their participation in the meetings entirely, Mr. Levinson found. And 3 percent voted on matters that ethics officers had already barred them from considering.

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

Goldman Holders Miffed at Bonuses
2009-11-20, Wall Street Journal
http://online.wsj.com/article/SB20001424052748704533904574545981008841004.html

Some of the largest shareholders in Goldman Sachs Group Inc. have urged the Wall Street firm to reduce the size of its bonus pool, arguing that it should pass along more of its blockbuster earnings to investors, according to people familiar with the situation. Their complaints in private conversations with the company and at analyst meetings show how anger over its big-money culture is spilling into the ranks of investors who typically shy away from debates over Wall Street pay. Despite record net income and compensation at Goldman as markets rebound and the firm outmuscles weakened rivals for business, analysts expect its 2009 earnings per share to be 22% lower than in 2007 and roughly equal to its 2006 earnings, according to Thomson Financial. The decline is caused by issuing more than 100 million shares in the past year to bolster Goldman's financial position and capital. Some major Goldman shareholders also are concerned about a little-noticed change in the company's financial statements that increased the firm's total head count by adding temporary employees and consultants. The change reduced per-employee compensation, making it look like Goldman employees earn less than they actually do. The figure is a lightning rod for criticism of Goldman because its staff is on pace to earn about $717,000 apiece for 2009. Excluding temporary employees and consultants would increase compensation per employee to about $775,000.

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

Drug Makers Raise Prices in Face of Health Care Reform
2009-11-16, New York Times
http://www.nytimes.com/2009/11/16/business/16drugprices.html

Even as drug makers promise to support Washington's health care overhaul by shaving $8 billion a year off the nation's drug costs after the legislation takes effect, the industry has been raising its prices at the fastest rate in years. In the last year, the industry has raised the wholesale prices of brand-name prescription drugs by about 9 percent, according to industry analysts. That will add more than $10 billion to the nation's drug bill, which is on track to exceed $300 billion this year. By at least one analysis, it is the highest annual rate of inflation for drug prices since 1992. The drug trend is distinctly at odds with the direction of the Consumer Price Index, which has fallen by 1.3 percent in the last year. Critics say the industry is trying to establish a higher price base before Congress passes legislation that tries to curb drug spending in coming years. "When we have major legislation anticipated, we see a run-up in price increases," says Stephen W. Schondelmeyer, a professor of pharmaceutical economics at the University of Minnesota. A Harvard health economist, Joseph P. Newhouse, said he found a similar pattern of unusual price increases after Congress added drug benefits to Medicare a few years ago, giving tens of millions of older Americans federally subsidized drug insurance. Just as the program was taking effect in 2006, the drug industry raised prices by the widest margin in a half-dozen years. "They try to maximize their profits," Mr. Newhouse said.

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

In House, Many Spoke With One Voice: Lobbyists
2009-11-15, New York Times
http://www.nytimes.com/2009/11/15/us/politics/15health.html

In the official record of the historic House debate on overhauling health care, the speeches of many lawmakers echo with similarities. Often, that was no accident. Statements by more than a dozen lawmakers were ghostwritten, in whole or in part, by Washington lobbyists working for Genentech, one of the world's largest biotechnology companies. E-mail messages obtained by The New York Times show that the lobbyists drafted one statement for Democrats and another for Republicans. The lobbyists ... were remarkably successful in getting the statements printed in the Congressional Record under the names of different members of Congress. Genentech, a subsidiary of the Swiss drug giant Roche, estimates that 42 House members picked up some of its talking points – 22 Republicans and 20 Democrats, an unusual bipartisan coup for lobbyists. In an interview, Representative Bill Pascrell Jr., Democrat of New Jersey, said: "I regret that the language was the same. I did not know it was." He said he got his statement from his staff and "did not know where they got the information from." In recent years, Genentech's political action committee and lobbyists for Roche and Genentech have made campaign contributions to many House members. And company employees have been among the hosts at fund-raisers for some of those lawmakers.

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

Swine flu skepticism demands deft response
2009-11-12, Reuters News
http://www.reuters.com/article/GCA-SwineFlu/idUSTRE5A52FU20091112

European scientists and health authorities are facing angry questions about why H1N1 flu has not caused death and destruction on the scale first feared, and they need to respond deftly to ensure public support. Accusations are flying in British and French media that the pandemic has been "hyped" by medical researchers to further their own cause, boost research grants and line the pockets of drug companies. Britain's Independent newspaper this week asked "Pandemic? What Pandemic?." France's Le Parisien newspaper ran the headline: "Swine flu: why the French distrust the vaccine" and noted a gap between the predicted impact of H1N1 and the less dramatic reality. "Dangerous liaisons between certain experts, the labs and the government, the obscurity of the contracts between the state and the pharma firms have added to the doubt." In Britain, health authorities' original worst-case scenario -- which said as many as 65,000 could die from H1N1 -- has twice been revised down and the prediction is now for around 1,000 deaths, way below the average annual toll of 4,000 to 8,000 deaths from seasonal winter flu.

Note: It's quite interesting and telling that a thorough Internet seach showed that no major media picked up this article from Reuters News Agency

TARP on steroids
2009-10-30, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/10/30/EDTG1ACEDE.DTL

It was 9/29/08 - a moment when a rare blast of populist democracy briefly singed the economic terrorists who hold the Capitol hostage. It had been a dark and stormy month of financial collapse, culminating in an attempted power grab. Pushed by his fellow Wall Street Ponzi schemers, Treasury Secretary Henry Paulson - a former Goldman Sachs CEO - was threatening Armageddon unless Congress ratified his ... decree for a no-strings-attached bank bailout. Today, the episode seems merely to have set minimum standards for chicanery. As evidenced by two little-noticed sections of the Obama administration's Wall Street "reform" bill, presidents and their bank benefactors are back to thinking they can pilfer whatever they want by burying their demands in the esoterica of lengthier bills. Finding this latest giveaway means digging all the way down to sections 1109 and 1604 of the White House's mammoth proposal. At a recent hearing, Rep. Brad Sherman, D-Sherman Oaks (Los Angeles County), called the language "TARP on steroids," noting the provisions would deliberately let the executive branch enact even bigger, more unregulated bailouts than ever - and by unilateral fiat. TARP on Steroids includes no specific oversight or executive pay constraints. TARP on Steroids allows taxpayer cash to go only to the behemoths (which, not coincidentally, tend to make the biggest campaign contributions). TARP on Steroids would let [the Treasury Secretary] spend as much as he wants.

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

In Harsh Reports on S.E.C.’s Fraud Failures, a Watchdog Urges Sweeping Changes
2009-09-30, New York Times
http://www.nytimes.com/2009/09/30/business/30sec.html

The Securities and Exchange Commission’s independent watchdog called for a sweeping overhaul of the agency’s investigation and enforcement practices on Tuesday, after a blistering report on the S.E.C.’s failure to detect Bernard L. Madoff’s extensive Ponzi scheme. Two reports, released by the S.E.C.’s inspector general, H. David Kotz, recommended dozens of changes in the way the agency evaluates tips, trains investigators and documents examinations of securities firms. The first report, which covers the S.E.C.’s inspections and examinations office, outlines 37 improvements that would revamp nearly every aspect of the division’s operations, including how investigators follow up on tips and creating step-by-step procedures in identifying potential violations of securities laws. Mr. Kotz also issued 21 recommendations to the S.E.C.’s division of enforcement, including the start of a formal process for handling complaints and improving working relationships within the division. One measure would mandate that tips and complaints be reviewed by at least two individuals experienced in the subject before taking further action. The proposed changes come after Mr. Kotz’s office completed an exhaustive investigation this month of the S.E.C.’s failure to detect the Madoff fraud despite many warnings and a flood of complaints from credible sources. At nearly every turn, the investigation found, the agency had failed to properly examine Mr. Madoff’s firm and had not adequately followed up on tips from as far back as 1992 that could have unearthed the estimated $65 billion scheme.

Note: For a treasure trove of key revelations on the realities behind the Wall Street crash and bailout, click here. Contact your political representatives urging them to support these recommendations.

Rise of the Super-Rich Hits a Sobering Wall
2009-08-21, New York Times
http://www.nytimes.com/2009/08/21/business/economy/21inequality.html

The rich have been getting richer for so long that the trend has come to seem almost permanent. They began to pull away from everyone else in the 1970s. By 2006, income was more concentrated at the top than it had been since the late 1920s. The recent news about resurgent Wall Street pay has seemed to suggest that not even the Great Recession could reverse the rise in income inequality. But economists say — and data is beginning to show — that a significant change may in fact be under way. The rich, as a group, are no longer getting richer. Over the last two years, they have become poorer. And many may not return to their old levels of wealth and income anytime soon. Last year, the number of Americans with a net worth of at least $30 million dropped 24 percent. Few economists expect the country to return to the relatively flat income distribution of the 1950s and 1960s. Indeed, they say that inequality is likely to remain significantly greater than it was for most of the 20th century. In 2007, the top one ten-thousandth of households took home 6 percent of the nation’s income, up from 0.9 percent in 1977. It was the highest such level since at least 1913, the first year for which the I.R.S. has data. The top 1 percent of earners took home 23.5 percent of income, up from 9 percent three decades earlier.

Note: Two researchers into income inequality, Emmanuel Saez and Thomas Piketty, recently released a detailed report showing that income inequality in 2007, just before the real estate bubble burst and the financial crisis unfolded, was the highest since 1917. To read their report, "Striking it Richer: The Evolution of Top Incomes in the United States," click here. For analysis of the report, click here.

A Whole Industry Is Waiting For A Pandemic
2009-07-21, Der Spiegel (Germany's leading news magazine)
http://www.spiegel.de/international/world/0,1518,637119,00.html

In an interview with SPIEGEL, epidemiologist Tom Jefferson speaks about dangerous fear-mongering, misguided, money-driven research and why we should all be washing our hands a lot more often. SPIEGEL: Do you consider the swine flu to be particularly worrisome? Jefferson: There are some people who make predictions year after year, and they get worse and worse. None of them so far have come about, and these people are still there making these predictions. Sometimes you get the feeling that there is a whole industry almost waiting for a pandemic to occur. SPIEGEL: Who do you mean? Jefferson: The WHO and public health officials, virologists and the pharmaceutical companies. They've built this machine around the impending pandemic. And there's a lot of money involved, and influence, and careers, and entire institutions! And all it took was one of these influenza viruses to mutate to start the machine grinding. SPIEGEL: Do you think the WHO declared a pandemic prematurely? Jefferson: Don't you think there's something noteworthy about the fact that the WHO has changed its definition of pandemic? The old definition was a new virus, which went around quickly, for which you didn't have immunity, and which created a high morbidity and mortality rate. Now the last two have been dropped, and that's how swine flu has been categorized as a pandemic.

Note: For lots more on the Swine Flu "false pandemic," click here.

Swine flu vaccine rushed through safety checks
2009-07-13, Times of London (One of the UK's leading newspapers)
http://www.timesonline.co.uk/tol/news/uk/health/article6694046.ece

A swine flu vaccine will be fast-tracked for use in Britain within five days once it is developed, and 130 million doses are on order. The Department of Health expects to have enough vaccine this year to give it to half the population. Further supplies will be available if needed. Each person will need two doses of the vaccine, unless one single jab is found to provide high rates of immunity. The first doses specific to the H1N1 swine flu virus are set to arrive in September and could be given regulatory approval in less than a week. The move came after the first British patient without underlying health problems died from swine flu, taking the number of swine flu-linked deaths in Britain to 15. Peter Holden, the British Medical Association’s lead negotiator on swine flu, said that ... although swine flu was not generally causing serious illness in patients, health officials were eager to start a mass vaccination campaign, starting first on groups that were susceptible to infection or prone to complications. It is likely that the elderly would be given a seasonal flu jab to guard against other circulating flu strains — as happens every year — as well as the swine flu vaccination. “The high-risk groups will be done at GPs’ surgeries. People are still making decisions over this, but we want to get cracking before we get a second wave, which is traditionally far more virulent,” Dr Holden said. It takes several weeks or months to make flu vaccines, which are cultured using chicken eggs. The European Medicines Agency said the fast-tracked approval procedure has involved trials of a “mock-up” vaccine and that the speed would not compromise patient safety. “The vaccines are authorised with a detailed risk management plan,” the agency said.

Important Note: Don't be fooled by this media propaganda. The same rushed attitude is what led to hundreds of deaths from the swine flu vaccine in 1976. Click here for a powerful CBS 60 Minutes video showing how a huge vaccine propaganda campaign by the government led to these deaths. And a recent article in The Scotsman quotes a spokesperson for the Scottish government saying "We have said that a vaccine is being worked on and the plan is to vaccinate everybody." Remember that the media is beholden to pharmaceutical companies for billions of dollars in advertising income. For lots more powerful information on this vital topic, click here.

Ignore the health scare professionals: you won't die of swine flu
2009-07-12, The Telegraph blogs (One of the UK's leading newspapers)
http://blogs.telegraph.co.uk/news/danielhannan/100002999/ignore-the-health-sc...

Swine flu is a nasty disease, but no nastier than other strains of influenza. True, it has killed hundreds of people in Mexico; but even there, other variants of ‘flu virus have been far more lethal. Why, then, the urgent need to inoculate the entire British population? Perhaps I’m being overly cynical, but I can’t help wondering whether we’re being pushed into a wrong-headed course of action by the health scare industry. We’re told that Tamiflu needs to be taken at once, without a moment’s delay – meaning that anyone with a sniffle is likely to start glugging the stuff. We’re also told that the virus may mutate, meaning – conveniently – that we’ll soon need a new variety of medicine. In any case, these flu vaccines have short shelf lives. Good news for the drug manufacturers and their lobbyists; bad news for the taxpayer. Ministers must suspect that the danger is being exaggerated. Yet they would rather spend gazillions than run the slightest risk of being accused of not having done enough. And, needless to say, there isn’t a medical advisory body in the world that will say: “Actually, minister, considering everything in the round, the danger posed by this virus is minor, and we recommend the disbandment of this panel”. You may think I am being unconscionably flippant. But back in April, when newspapers were filling their pages with science fiction scenarios of a deadly epidemic, I suggested that, taking everything together, we weren’t going to die of swine flu. Who has the better track record so far: the Big Pharma doom mongers, or this blog?

Pay-for-Chat Plan Falls Flat at Washington Post
2009-07-03, New York Times
http://www.nytimes.com/2009/07/03/business/media/03post.html

For generations, The Washington Post has been a scrupulous watchdog over the capital’s cozy world of power networking. For a short time, it almost became the network’s host. The Post decided Thursday to cancel plans to charge lobbyists and trade groups $25,000 or more to sponsor private, off-the-record dinner parties at the home of its publisher, Katharine Weymouth, events that would have brought together lobbyists, business leaders, Post journalists and officials from the Obama administration and Congress. The revelation of the parties early Thursday morning by Politico.com appalled members of The Post newsroom and put the paper squarely in the cross hairs of journalism ethicists. In response, Ms. Weymouth canceled the first dinner, scheduled for July 21. A flier describing the events promised corporate sponsors conversation (“Spirited? Yes. Confrontational? No.”) at the Washington home of Ms. Weymouth. Sponsors were asked to pay $25,000 to attend an event, or underwrite a series of 11 for $250,000. The July 21 event, focusing on health care reform, “guaranteed” a “collegial evening” with health industry advocates, Post journalists covering the field and administration officials involved with its policies. The Politico article prompted an immediate newsroom reaction. The Post’s ombudsman, Andrew Alexander, wrote on his blog that “this comes pretty close to a public relations disaster.” With the print business in tough straits, many news organizations have turned to conferences and other events to raise revenue and their profiles. But the planned Post events seem particularly audacious, not only acting essentially as a paid conduit between lobbyists and government officials, but also providing sponsors the opportunity to make their case to Post journalists.

Note: This article shows the blatant manipulations going on behind the scenes in our major media. To learn just how compromised the media have been for a long time, click here to read about former Post owner Katharine Graham's connections with the CIA. And to understand how major news is suppressed, click here.

A Battle to Preserve a Visionary’s Bold Failure
2009-05-05, New York Times
http://www.nytimes.com/2009/05/05/science/05tesla.html

In 1901, Nikola Tesla began work on a global system of giant towers meant to relay through the air not only news, stock reports and even pictures but also, unbeknown to investors such as J. Pierpont Morgan, free electricity for one and all. It was the inventor’s biggest project, and his most audacious. The first tower rose on rural Long Island and, by 1903, stood more than 18 stories tall. Tesla, who lived from 1856 to 1943, made bitter enemies who dismissed some of his claims as exaggerated, helping tarnish his reputation in his lifetime. Today, his work tends to be poorly known among scientists, though some call him an intuitive genius far ahead of his peers. He was widely celebrated for his inventions of motors and power distribution systems that used the form of electricity known as alternating current, which beat out direct current (and Thomas Edison) to electrify the world. Around 1900 ... inventors around the world were racing for what was considered the next big thing — wireless communication. [Tesla's] own plan was to turn alternating current into electromagnetic waves that flashed from antennas to distant receivers. The scale of his vision was gargantuan. Investors, given Tesla’s electrical achievements, paid heed. The biggest was J. Pierpont Morgan, a top financier. He sank $150,000 (today more than $3 million) into Tesla’s global wireless venture. But Morgan was [eventually] disenchanted. Margaret Cheney, a Tesla biographer, observed that Tesla had seriously misjudged his wealthy patron, a man deeply committed to the profit motive. “The prospect of beaming electricity to penniless Zulus or Pygmies,” she wrote, must have left the financier less than enthusiastic.

Note: This article underplays a number of things about Tesla. Morgan stopped funding him primarily because he eventually realized that there would be no way to charge for the electricity Tesla was generating. If successful, electricity would be available virtually for free to those supplied by his tower. Tesla was then shunned by the power elite and his rightful claim as inventor of the radio (not Marconi) was erased in the history books. As stated on the PBS website, "It wasn't until 1943 — a few months after Tesla's death — that the U.S. Supreme Court upheld Tesla's radio patent number 645,576." For more on this amazing man, click here and here.

Why Creditors Should Suffer, Too
2009-04-05, New York Times
http://www.nytimes.com/2009/04/05/business/economy/05view.html?partner=rss&em...

The Obama administration’s proposals to reform financial regulation sound ambitious enough as they aim to bring companies like A.I.G. under a broader umbrella of government rule-making and scrutiny. But there is a big hole in these proposals, as there has already been in the government’s approach to bailing out failing financial companies. Even as they focus on firms deemed too big to fail, the new proposals immunize the creditors and counterparties of such firms by protecting them from their own lending and trading mistakes. This pattern has been evident for months, with the government aiding creditors and counterparties every step of the way. Yet this has not been explained openly to the American public. In truth, it’s not the shareholders of the American International Group who benefited most from its bailout; they were mostly wiped out. The great beneficiaries have been the creditors and counterparties at the other end of A.I.G.’s derivatives deals — firms like Goldman Sachs, Merrill Lynch, Deutsche Bank, Société Générale, Barclays and UBS. These firms engaged in deals that A.I.G. could not make good on. The bailout, and the regulatory regime outlined by Timothy F. Geithner, the Treasury secretary, would give firms like these every incentive to make similar deals down the road. In both the bailouts and in the new proposals, the government is effectively neutralizing creditors as a force for financial safety. This suggests a scary possibility — that the next regulatory regime could end up even worse than the last.

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

Big Bonuses at Fannie and Freddie Draw Fire
2009-04-04, New York Times
http://www.nytimes.com/2009/04/04/business/04bonus.html?partner=rss&emc=rss&p...

Fannie Mae and Freddie Mac, the two troubled companies at the heart of the nation’s mortgage market, are set to pay their employees “retention bonuses” totaling $210 million, despite calls from lawmakers to cancel the payments. The bonuses, which were made public on Friday, were defended by the companies’ federal regulator, James B. Lockhart, who said he intended to let them proceed. In a letter sent last week to Senator Charles E. Grassley, an Iowa Republican, Mr. Lockhart disclosed that 7,600 Fannie and Freddie workers were scheduled to receive payouts aimed at retaining those “employees most critical to keep and difficult to replace.” Under the plan, 213 employees will receive retention bonuses worth more than $100,000 this year, and one Freddie Mac executive will receive $1.3 million. Those figures drew sharp rebukes from Mr. Grassley and other lawmakers, who noted that Fannie and Freddie had received pledges of $400 billion from taxpayers to offset huge losses since they were seized by the government in September. Similar bonuses paid by the American International Group, which was also bailed out by taxpayers, incited fiery attacks from the White House and legislators when they were revealed last month. “It’s hard to see any common sense in management decisions that award hundreds of millions in bonuses when their organizations lost more than $100 billion in a year,” Mr. Grassley said in a statement. “It’s an insult that the bonuses were made with an infusion of cash from taxpayers.”

Note: For many revealing reports on the realities behind the Wall Street bailouts, click here.

Vioxx maker Merck and Co drew up doctor hit list
2009-04-01, The Australian (One of Australia's leading newspapers)
http://www.theaustralian.news.com.au/story/0,25197,25272600-2702,00.html

An international drug company made a hit list of doctors who had to be "neutralised" or discredited because they criticised the anti-arthritis drug the pharmaceutical giant produced. Staff at US company Merck &Co emailed each other about the list of doctors - mainly researchers and academics - who had been negative about the drug Vioxx or Merck and a recommended course of action. The email, which came out in the Federal Court in Melbourne yesterday as part of a class action against the drug company, included the words "neutralise", "neutralised" or "discredit" against some of the doctors' names. It is also alleged the company used intimidation tactics against critical researchers, including dropping hints it would stop funding to institutions and claims it interfered with academic appointments. "We may need to seek them out and destroy them where they live," a Merck employee wrote, according to an email excerpt read to the court by Julian Burnside QC, acting for the plaintiff. Merck & Co and its Australian subsidiary, Merck, Sharpe and Dohme, are being sued for compensation by more than 1000 Australians, who claim they suffered heart attacks or strokes as a result of Vioxx. The drug was launched in 1999 and at its height of popularity was used by 80 million people worldwide because it did not cause stomach problems as did traditional anti-inflammatory drugs. It was voluntarily withdrawn from sale in 2004 after concerns were raised that it caused heart attacks and strokes and a clinical trial testing these potential side affects was aborted for safety reasons. Merck last year settled thousands of lawsuits in the US over the effects of Vioxx for $US 4.85 billion, but made no admission of guilt.

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

Obama’s Ersatz Capitalism
2009-04-01, New York Times
http://www.nytimes.com/2009/04/01/opinion/01stiglitz.html?partner=rss&emc=rss...

The Obama administration’s $500 billion or more proposal to deal with America’s ailing banks has been described by some in the financial markets as a win-win-win proposal. Actually, it is a win-win-lose proposal: the banks win, investors win — and taxpayers lose. Treasury hopes to get us out of the mess by replicating the flawed system that the private sector used to bring the world crashing down, with a proposal marked by overleveraging in the public sector, excessive complexity, poor incentives and a lack of transparency. In theory, the administration’s plan is based on letting the market determine the prices of the banks’ “toxic assets” — including outstanding house loans and securities based on those loans. The reality, though, is that the market will not be pricing the toxic assets themselves, but options on those assets. The two have little to do with each other. The government plan in effect involves insuring almost all losses. Since the private investors are spared most losses, then they primarily “value” their potential gains. This is exactly the same as being given an option. Under the plan by Treasury Secretary Timothy Geithner, the government would provide about 92 percent of the money to buy the asset but would stand to receive only 50 percent of any gains, and would absorb almost all of the losses. Some partnership! What the Obama administration is doing is far worse than nationalization: it is ersatz capitalism, the privatizing of gains and the socializing of losses. It is a “partnership” in which one partner robs the other.

Note: The author of this analysis, Joseph E. Stiglitz, is a professor of economics at Columbia University. He was chairman of the Council of Economic Advisers from 1995 to 1997, and was awarded the Nobel prize in economics in 2001. For many revealing reports on the realities behind the Wall Street bailouts, click here.

Powerful proponent of psychiatric drugs for children primed for a fall
2009-03-27, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/03/27/EDAF16N963.DTL

Dr. Joseph Biederman, chief of the Massachusetts General Pediatric Psychopharmacology Clinic, is already under investigation by Harvard University and the National Institutes of Health for failing to report income received from drug companies. Biederman has strongly pushed treating children's mental illnesses with powerful antipsychotic medicines. Diagnoses like ADHD and pediatric bipolar disorder, along with psychiatric drug use in American children, have soared in the last 15 years. No other country medicates children as frequently. Now, in newly released court documents, Biederman appears to be promising drugmaker Johnson & Johnson in advance that his studies on the antipsychotic drug risperidone will prove the drug to be effective when used on preschool age children. Biederman's status at Harvard and his research have arguably made him, until recently, America's most powerful doctor in child psychiatry. Reports from court actions, along with an ongoing investigation of conflict of interest charges led by Sen. Chuck Grassley, R-Iowa, threaten to topple Biederman from his heretofore untouchable Olympian heights. Biederman's conflict of interest problems have exposed his strong pro-drug views to the public for scrutiny. Until now, fear of the Biederman team has operated quietly on the small club of child psychiatric researchers. Only when 2-year-olds started taking three psychiatric drugs simultaneously under a Biederman protocol for bipolar disorder did the emperor's clothes become so invisible as to begin the naming of names. Biederman's personal travails tragically inform us about a crisis in academic medicine that must be resolved.

Note: For a powerful overview of corruption in the pharmaceutical industry, click here.

A.I.G. Planning Huge Bonuses After $170 Billion Bailout
2009-03-15, New York Times
http://www.nytimes.com/2009/03/15/business/15AIG.html?partner=rss&emc=rss&pag...

The American International Group, which has received more than $170 billion in taxpayer bailout money from the Treasury and Federal Reserve, plans to pay about $165 million in bonuses by Sunday to executives in the same business unit that brought the company to the brink of collapse last year. Treasury Secretary Timothy F. Geithner told the firm they were unacceptable and demanded they be renegotiated, a senior administration official said. But the bonuses will go forward because lawyers said the firm was contractually obligated to pay them. The payments to A.I.G.’s financial products unit are in addition to $121 million in previously scheduled bonuses for the company’s senior executives and 6,400 employees across the sprawling corporation. The payment of so much money at a company at the heart of the financial collapse that sent the broader economy into a tailspin almost certainly will fuel a popular backlash against the government’s efforts to prop up Wall Street. A.I.G., nearly 80 percent of which is now owned by the government, defended its bonuses, arguing that they were promised last year before the crisis and cannot be legally canceled. Of all the financial institutions that have been propped up by taxpayer dollars, none has received more money than A.I.G.. The bonuses will be paid to executives at A.I.G.’s financial products division, the unit that wrote trillions of dollars’ worth of credit-default swaps that protected investors from defaults on bonds backed in many cases by subprime mortgages. Seven executives at the financial products unit were entitled to receive more than $3 million in bonuses.

Note: For many revelations of the amazing realities of the Wall Street bailout, click here.

Some Banks, Feeling Chained, Want to Return Bailout Money
2009-03-11, New York Times
http://www.nytimes.com/2009/03/11/business/economy/11bailout.html?partner=rss...

Financial institutions that are getting government bailout funds have been told to put off evictions and modify mortgages for distressed homeowners. They must let shareholders vote on executive pay packages. They must slash dividends, cancel employee training and morale-building exercises, and withdraw job offers to foreign citizens. As public outrage swells over the rapidly growing cost of bailing out financial institutions, the Obama administration and lawmakers are attaching more and more strings to rescue funds. The conditions are necessary to prevent Wall Street executives from paying lavish bonuses and buying corporate jets, some experts say. Some bankers say the conditions have become so onerous that they want to return the bailout money. The list includes small banks ... as well as giants like Goldman Sachs and Wells Fargo. They say they plan to return the money as quickly as possible or as soon as regulators set up a process to accept the refunds. A senior Treasury official involved in the bailout effort said the administration was carefully trying not to do anything that could harm the banks and was giving financial incentives to modify mortgages. But by keeping weak banks operating, the markets continue to sink and taxpayer costs are mounting, outside experts said. “The current policy is likely to result in weaker banks,” Mr. Seidman said. “And keeping insolvent banks in operation does not benefit the system.”

Note: Could it be that that the main reason top bank executives are now talking about giving money back is that don't want to give up their lavish bonuses and corporate jets? What about all the talk about how the whole world would go to pot if they didn't get this bailout money? Somehow this is not surprising.

A 'fraud' bigger than Madoff
2009-02-16, The Independent (One of the U.K.'s leading newspapers)
http://www.independent.co.uk/news/world/americas/a-fraud-bigger-than-madoff-1...

In what could turn out to be the greatest fraud in US history, American authorities have started to investigate the alleged role of senior military officers in the misuse of $125bn ... in a US -directed effort to reconstruct Iraq after the fall of Saddam Hussein. The exact sum missing may never be clear, but a report by the US Special Inspector General for Iraq Reconstruction (SIGIR) suggests it may exceed $50bn, making it an even bigger theft than Bernard Madoff's notorious Ponzi scheme. "I believe the real looting of Iraq after the invasion was by US officials and contractors, and not by people from the slums of Baghdad," said one US businessman active in Iraq since 2003. Iraqi leaders are convinced that the theft or waste of huge sums of US and Iraqi government money could have happened only if senior US officials were themselves involved in the corruption. American federal investigators are now starting an inquiry into the actions of senior US officers involved in the programme to rebuild Iraq. In the expanded inquiry by federal agencies, the evidence of a ... US businessman called Dale C Stoffel who was murdered after leaving the US base at Taiji north of Baghdad in 2004 is being re-examined. Before he was killed, Mr Stoffel, an arms dealer and contractor, was granted limited immunity from prosecution after he had provided information that a network of bribery – linking companies and US officials awarding contracts – existed within the US-run Green Zone in Baghdad. He said bribes of tens of thousands of dollars were regularly delivered in pizza boxes sent to US contracting officers.

Note: To read a former Marine Corps general's exposure of the high-level criminality and profiteering that is the real purpose behind war, click here. For many powerful revelations from reliable sources of government corruption, click here.

New Bank Bailout Could Cost $2 Trillion
2009-01-29, Wall Street Journal
http://online.wsj.com/article/SB123319689681827391.html

Government officials seeking to revamp the U.S. financial bailout have discussed spending another $1 trillion to $2 trillion to help restore banks to health, according to people familiar with the matter. President Barack Obama's new administration is wrestling with how to stem the continuing loss of confidence in the financial system, as it divides up the remaining $350 billion from the $700 billion Troubled Asset Relief Program launched last fall. The potential size of rescue efforts being discussed suggests the administration may need to ask Congress for more funds. The administration is expected to take a series of steps, including relieving banks of bad loans and distressed securities. The so-called "bad bank" that would buy these assets could be seeded with $100 billion to $200 billion from the TARP funds, with the rest of the money -- as much as $1 trillion to $2 trillion -- raised by selling government-backed debt or borrowing from the Federal Reserve. The administration is also seeking more effective ways to pump money into banks, and is considering buying common shares in the banks. Government purchases so far have been of preferred shares, in an effort to both protect taxpayers and avoid diluting existing shareholders' stakes. Given the weakened state of the banking industry, with bank share prices low and their capital needs high, economists say the government probably can't avoid owning at least some banks for a temporary period.

Note: Note that the U.S. government has to borrow from the Federal Reserve, which most people don't realize is privately owned by the richest banks. For more on this, click here. The $2 trillion of taxpayer money for Wall Street's toxic assets revealed here is in addition to over $7 trillion already committed according to CNN and others. Wouldn't government debt of this magnitude threaten a broad range of government services and risk seriously weakening the dollar? For many other revealing reports on the Wall Street bailout, click here.

Execs of bailed-out banks got $1.6B last year, AP finds
2008-12-21, USA Today/Associated Press
http://www.usatoday.com/money/companies/management/2008-12-21-bank-execs-bail...

Banks that are getting taxpayer bailouts awarded their top executives nearly $1.6 billion in salaries, bonuses, and other benefits last year, an Associated Press analysis reveals. The rewards came even at banks where poor results last year foretold the economic crisis that sent them to Washington for a government rescue. Some trimmed their executive compensation due to lagging bank performance, but still forked over multimillion-dollar executive pay packages. Benefits included cash bonuses, stock options, personal use of company jets and chauffeurs, home security, country club memberships and professional money management. The total amount given to nearly 600 executives would cover bailout costs for many of the 116 banks that have so far accepted tax dollars to boost their bottom lines. The AP compiled total compensation based on annual reports that the banks file with the Securities and Exchange Commission. The 116 banks have so far received $188 billion in taxpayer help. Among the findings: • Lloyd Blankfein, president and chief executive officer of Goldman Sachs, took home nearly $54 million in compensation last year. The company's top five executives received a total of $242 million. The New York-based company on Dec. 16 reported its first quarterly loss since it went public in 1999. It received $10 billion in taxpayer money on Oct. 28. • John A. Thain, chief executive officer of Merrill Lynch, topped all corporate bank bosses with $83 million in earnings last year. Like Goldman, Merrill got $10 billion from taxpayers on Oct. 28.

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

House Arrest for Madoff in $7 Million Apartment
2008-12-17, abcnews.com
http://abcnews.go.com/Blotter/WallStreet/story?id=6480363

Bernard Madoff, accused of the largest fraud in U.S. history, will be allowed to remain in his $7 million Park Avenue apartment instead of being sent to jail, under terms of an agreement announced today by federal prosecutors. Madoff was unable to meet the bond conditions set last week by a federal magistrate which required him to get four people to sign his personal recognizance bond. According to the U.S. Attorney's office, only Madoff's wife and brothers were willing to sign the document. But instead of ordering him held in jail, prosecutors agreed to home detention with electronic monitoring. Madoff and his luxury apartment on Manhattan's upper east side will be fitted with an electronic monitoring device by the court's pre-trial services and Madoff will be under a curfew of between 7 p.m. through 9 a.m. Madoff's wife agreed to post the mansions in her name in Palm Beach, Florida and in Montauk on New York's Long Island. The Securities and Exchange Commission chairman said today the agency has found "no evidence of wrongdoing by any SEC personnel" in connection with Madoff's alleged $50 billion Ponzi scheme and that the SEC intends to get to the bottom of where it may have gone wrong. "I was very concerned to learn this week that credible allegations about Mr. Madoff had been made over nearly a decade and yet never referred to the commission for action," Commissioner Christopher Cox said at a press conference. Yesterday, Cox acknowledged what amounted to a generational failure on the part of the SEC to discover any hint of Madoff's scheme, despite allegations dating back to 1999.

Note: Why is the criminal responsible for the largest single banking scandal in history given house arrest rather than jail before his trial? Isn't it remarkable that the hands-off treatment Madoff received over the years from the SEC seems to be continuing from the Federal prosecutors? For more on Wall Street corruption, click here.

Why AIG Gets Billions, GM Gets Scorn
2008-12-12, U.S. News & World Report blog
http://www.usnews.com/blogs/flowchart/2008/12/12/why-aig-gets-billions-gm-get...

AIG, the huge insurance company, has so far gotten $173 billion worth of federal aid, because traders at one small division made bets on exotic securities that were so calamitous they threatened to bring down the whole company. So far, the amount of money the feds have pledged to this one firm equals nearly one-third of the nation’s defense budget. General Motors, America’s biggest automaker, has asked for a $10 billion federal loan, equal to one-seventeenth of what AIG has gotten – and Congress has said no. There were no rogue traders at GM, and the company’s problems have intensified in plain view, over several months, instead of coming from out of nowhere in a single, cataclysmic episode. Make sense? Doesn’t to me. So maybe if we look at each company a bit more closely, it will be clearer why the government favors companies like AIG over ones like GM. Does have AIG have friends in high places? You could say that. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke both support the AIG bailout, and they’ve steered money to the company without Congressional approval. GM’s most important friends in Washington have been the Michigan Congressional delegation, which obviously doesn’t have the clout it used to. Paulson has actually argued against using part of the huge $700 billion financial bailout fund to help the automakers, because they can’t pass a “viability” test proving they’ll stay in business long enough to pay back the loans. But AIG hasn’t passed a viability test either, and without federal help there’s little doubt it would be in bankruptcy.

Note: At least someone is asking the right questions! For many highly revealing reports from reliable sources on the realities of the Wall Street bailout, click here.

Wall Street legend Bernard Madoff arrested over '$50 billion Ponzi scheme'
2008-12-12, Times of London
http://www.timesonline.co.uk/tol/news/world/us_and_americas/article5331997.ece

Shock and panic spread through the country clubs of Palm Beach and Long Island after Bernard L Madoff, a trading powerbroker for over four decades, allegedly confessed to a massive fraud that will cost his wealthy investors at least $50 billion, perhaps the largest swindle in Wall Street history. Mr Madoff, 70, a former Nasdaq stock chairman, was apparently turned in by his two sons and arrested on Thursday morning at his Manhattan apartment by the FBI. The FBI claims that three senior employees of Mr Madoff's investment firm - once a towering presence on Wall Street - turned up at his apartment on Wednesday to ask questions about the company's solvency. Two of them are believed to be his sons, Andrew and Mark, who have worked for their father for two decades. Mr Madoff told them that he was "finished", that he had "absolutely nothing", and that "it's all just one big lie". He said the investment arm of his firm was "basically a giant Ponzi scheme," and that it had been insolvent for years. A Ponzi scheme, named after the swindler Charles Ponzi, is a fraudulent investment operation that pays abnormally high returns to investors paid from money put into the scheme by subsequent investors, rather from real profits generated by share trading. The FBI complaint states that Mr Madoff told his sons he believed the losses from his scheme could exceed $50 billion. If that is the case, his fraud would be far greater than past Ponzi schemes and easily the greatest swindle perpetrated by one man.

Note: If a former Nasdaq chairman was committing this kind of blatant fraud while still the chairman of Nasdaq, what does it say about the level of corruption on Wall Street? For a treasure trove of reports from reliable sources exposing the realities of the Wall Street corruption, click here.

Legislators taking hard look at oil trading
2008-11-26, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/26/BU70149LTD.DTL

For a few months this summer, the oil market speculator ... helped push oil prices steadily higher, shattering records that had lasted for decades. As oil topped $145 per barrel, Congress started looking for ways to rein the speculators in. Then oil prices plunged, and interest in the issue fizzled. But that may soon change. "This will remain an issue," said Sen. Byron Dorgan, D-N.D., who introduced oil market legislation this year. "Because when the price of oil has gone from $50 to $147 and back, it's clear to me and everyone else that this has nothing to do with supply and demand. It has to do with speculation." Among possible changes, Congress may try to assert more authority over unregulated oil swaps that don't take place on any formal market. Many factors helped shove prices higher, including the growth of China's economy and the decline of the American dollar. But oil kept rising even as gasoline sales fell in the United States, the world's largest oil consumer. That wouldn't have happened if supply and demand really were driving the market, many analysts say. "The entire move from $70 (per barrel) to $147 was people fleeing the dollar and looking at oil as an asset class," said Amy Myers Jaffe, an energy research fellow at Rice University's Baker Institute. "It was speculators, so when they exited the market, we went right back to $70." Speculators are investors who trade in oil or other commodities strictly as a financial investment. They include hedge funds and investment banks as well as retirement funds.

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

15 corporate chieftains each top $100 million in 5 years
2008-11-20, Denver Post/Wall Street Journal
http://www.denverpost.com/business/ci_11036514

The credit bubble has burst. The economy is tanking. Investors in the U.S. stock market have lost more than $9 trillion since its peak a year ago. But in industries at the center of the crisis, plenty of top officials managed to emerge with substantial fortunes. Fifteen corporate chieftains of large home-building and financial-services firms each reaped more than $100 million in cash compensation and proceeds from stock sales during the past five years, according to a Wall Street Journal analysis. Four of those executives, including the heads of Lehman Brothers Holdings Inc. and Bear Stearns Cos., ran companies that have filed for bankruptcy protection or seen their share prices fall more than 90% from their peak. The study ... showed that top executives and directors of the firms cashed out a total of more than $21 billion during the period. The issue of compensation and other rewards for corporate executives is front-and-center in the wake of the financial meltdown. In the tech bubble of the late 1990s, more than 50 individuals each made more than $100 million from selling shares just prior to the crash. Many had just founded companies that had never turned a profit. "The system tends to reward people for participating in bubbles," says Roy C. Smith, a finance professor at New York University's business school.

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

Was There a Loan It Didn’t Like?
2008-11-02, New York Times
http://www.nytimes.com/2008/11/02/business/02gret.html?partner=rssuserland&em...

As a senior mortgage underwriter, Keysha Cooper was proud of her ability to spot fraud and other problems in a loan application. But as a senior mortgage underwriter at Washington Mutual during the late, great mortgage boom, Ms. Cooper says she found herself in a vise. Brokers squeezed her from one side, her superiors from the other, she says, and both pressured her to approve loans, no matter what. “At WaMu it wasn’t about the quality of the loans; it was about the numbers,” Ms. Cooper says. “They didn’t care if we were giving loans to people that didn’t qualify. Instead, it was how many loans did you guys close and fund?” When underwriters refused to approve dubious loans, they were punished, she says. In February 2007 ... the pressure became intense. WaMu executives told employees they were not making enough loans and had to get their numbers up, she says. “They started giving loan officers free trips if they closed so many loans, fly them to Hawaii for a month,” Ms. Cooper recalls. “One of my account reps went to Jamaica for a month because he closed $3.5 million in loans that month. If a loan came from a top loan officer, they didn’t care what the situation was, you had to make that loan work,” she says. One loan file was filled with so many discrepancies that she felt certain it involved mortgage fraud. She turned the loan down, she says, only to be scolded by her supervisor. Ms. Cooper says that her bosses placed her on probation for 30 days for refusing to approve the loan and that her team manager signed off on the loan.

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

Panel grills credit raters over inflated ratings
2008-10-23, MSNBC/Associated Press
http://www.msnbc.msn.com/id/27326652

Executives and employees at the major credit ratings agencies were often aware of problems in the AAA grades awarded to thousands of mortgage-related securities whose downgrades helped plunge the nation into a financial meltdown. The companies — Standard & Poor, Moody’s and Fitch, Inc. — made enormous profits as they evaluated a ballooning number of mortgage-backed bonds, many of which were given top marks as long as housing prices went up. “The story of the credit rating agencies is a story of colossal failure,” said Rep. Henry Waxman, chairman of the House Oversight and Government Reform Committee. The California Democrat said, “Millions of investors rely on them for independent, objective assessments. The rating agencies broke this bond of trust, and federal regulators ignored the warning signs and did nothing to protect the public. The result is that our entire financial system is now at risk.” The companies are important because their high assessments assured investors that their money should be safe. The inflated ratings awarded to securities backed up by subprime loans led investors to buy them in enormous numbers. But now, most of these securities have been downgraded and the market for them has largely evaporated, contributing to the current crisis. The panel also heard former ratings agency executives say there’s an inherent conflict of interest in the industry because they’re paid by bond issuers instead of investors who trust their ratings to make smart investments.

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

This Bailout Doesn’t Pay Dividends
2008-10-21, New York Times
http://www.nytimes.com/2008/10/21/opinion/21stein.html?partner=rssuserland&em...

Secretary Paulson [has been] described as playing the role of the Godfather, making the banks [a bailout] offer they could not refuse. But in one important respect, he was more Santa Claus than Vito Corleone: the agreement allowed the banks to continue paying dividends to common shareholders. These dividends, if they are paid at current levels, will redirect more than $25 billion of the $125 billion to shareholders in the next year alone. A significant fraction of [the bailout] money will wind up in shareholders’ pockets — and thus be unavailable to plug the large capital hole on the banks’ balance sheets. The officers and directors of the nine banks will be among the leading beneficiaries of the dividend payout. Their personal take of the dividends will amount to approximately $250 million in the first year. Why would the banks want to maintain large dividend payouts when they’ve had such a hard time borrowing, are starved of cash, and the credit markets believe that they run a significant risk of defaulting? Shouldn’t these distressed banks be marshalling all of the financial resources available to them to ensure their viability? Here’s why: Each dollar paid out as a dividend today is a dollar that cannot be seized by creditors in the event of bankruptcy. For a distressed company, dividends are not in the interest of the enterprise as a whole (shareholders and lenders taken together), but only in the interest of shareholders. They are an attempt by shareholders to beat creditors out the door. The government should close the door by putting an immediate stop to the dividend payouts of any banks receiving direct federal support.

Note: Is the fox guarding the hen house? For many revealing, reliable reports on the banking bailout, click here.

Wall Street's 'Disaster Capitalism for Dummies'
2008-10-21, MarketWatch.com (owned by Dow Jones)
http://www.marketwatch.com/news/story/14-reasons-main-street-loses/story.aspx...

Sorry to pop your bubble folks, but it no longer matters who's president. Why? The real "game changer" already happened. Democracy has been replaced by Wall Street's new "disaster capitalism." That's the big game-changer historians will remember about 2008, masterminded by Wall Street's ultimate "Trojan Horse," Hank Paulson. Congress simply handed over voting power and the keys to trillions in the Treasury to Wall Street's new "Disaster Capitalists" who now control "democracy." We let it happen. In one generation America has been transformed from a democracy into a strange new form of government, "Disaster Capitalism." Three decades of influence peddling in Washington ... accelerated under Reaganomics and went into hyperspeed under Bushonomics, both totally committed to a new disaster capitalism run privately by Wall Street and Corporate America. No-bid contracts in wars and hurricanes. A housing-credit bubble -- while secretly planning for a meltdown. Finally, the coup de grace: Along came the housing-credit crisis, as planned. Press and public saw a negative, a crisis. Disaster capitalists saw a huge opportunity. Yes, opportunity for big bucks and control of America. This end game was planned for years in secret war rooms on Wall Street, in Corporate America, in Washington and the Forbes 400. Naomi Klein summarizes the game in Shock Doctrine: the Rise of Disaster Capitalism. This "new economy" generates enormous profits feeding off other peoples' misery: Wars, terror attacks, natural catastrophes, poverty, trade sanctions, subprime housing meltdowns and all kinds of economic, financial and political disasters.

Note: The author of this highly critical commentary, Paul B. Farrell, is a well-known writer on finance and investment and a long-time columnist at The Wall Street Journal's sister-site MarketWatch.

Pentagon Auditors Pressured To Favor Contractors, GAO Says
2008-07-24, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/07/23/AR20080723014...

Auditors at a Pentagon oversight agency were pressured by supervisors to skew their reports on major defense contractors to make them look more favorable instead of exposing wrongdoing and charges of overbilling, according to an 80-page report released yesterday by the Government Accountability Office. The Defense Contract Audit Agency, which oversees contractors for the Defense Department, "improperly influenced the audit scope, conclusions and opinions" of reviews of contractor performance, the GAO said, creating a "serious independence issue." The report does not name the projects or the contractors involved, but staff members on the Senate Homeland Security and Governmental Affairs Committee who were briefed on the findings cited seven contractors, some of whom are among the biggest in the defense industry: Boeing, Northrop Grumman, Fluor, Parker Hannifin, Sparta, SRS Technologies and a subsidiary of L3 Communications. Supervisors at DCAA attempted to intimidate auditors, prevented them from speaking with GAO investigators and created a "generally abusive work environment," the report said. It cited incidents of "verbal admonishments, reassignments and threats of disciplinary action" against workers who "raised questions about management guidance." The GAO said it launched the two-year inquiry after complaints on a fraud hotline. Its investigators conducted more than 100 interviews of 50 people involved in audits between 2003 and 2007.

Note: For eye-opening reports on government corruption from reliable sources, click here.

Army Overseer Tells of Ouster Over KBR Stir
2008-06-17, New York Times
http://www.nytimes.com/2008/06/17/washington/17contractor.html?partner=rssuse...

The Army official who managed the Pentagon’s largest contract in Iraq says he was ousted from his job when he refused to approve paying more than $1 billion in questionable charges to KBR, the Houston-based company that has provided food, housing and other services to American troops. The official, Charles M. Smith, was the senior civilian overseeing the multibillion-dollar contract with KBR during the first two years of the war. Speaking out for the first time, Mr. Smith said that he was forced from his job in 2004 after informing KBR officials that the Army would impose escalating financial penalties if they failed to improve their chaotic Iraqi operations. Army auditors had determined that KBR lacked credible data or records for more than $1 billion in spending, so Mr. Smith refused to sign off on the payments to the company. “They had a gigantic amount of costs they couldn’t justify,” he said in an interview. But he was suddenly replaced, he said, and his successors — after taking the unusual step of hiring an outside contractor to consider KBR’s claims — approved most of the payments he had tried to block. Mr. Smith’s account fills in important gaps about the Pentagon’s handling of the KBR contract, which has cost more than $20 billion so far and has come under fierce criticism from lawmakers. Mr. Smith ... is giving his account just as the Pentagon has recently awarded KBR part of a 10-year, $150 billion contract in Iraq.

Note: For a summary of US Marine Corps General Smedley Butler's book on war profiteering, click here.

Was Press a War ‘Enabler’? 2 Offer a Nod From Inside
2008-05-30, New York Times
http://www.nytimes.com/2008/05/30/washington/30press.html?partner=rssuserland...

In his new memoir, What Happened, Scott McClellan, the former White House press secretary, said the national news media neglected their watchdog role in the run-up to the invasion of Iraq, calling reporters “complicit enablers” of the Bush administration’s push for war. Surprisingly, some prominent journalists have agreed. Katie Couric, the anchor of “CBS Evening News,” said ... that she had felt pressure from government officials and corporate executives to cast the war in a positive light. Speaking on “The Early Show” on CBS, Ms. Couric said the lack of skepticism shown by journalists about the Bush administration’s case for war amounted to “one of the most embarrassing chapters in American journalism.”She also said she sensed pressure from “the corporations who own where we work and from the government itself to really squash any kind of dissent or any kind of questioning of it.” At the time, Ms. Couric was a host of “Today” on NBC. Another broadcast journalist also weighed in. Jessica Yellin, who worked for MSNBC in 2003 and now reports for CNN, said ... that journalists had been “under enormous pressure from corporate executives, frankly, to make sure that this was a war presented in a way that was consistent with the patriotic fever in the nation.” For five years, antiwar activists and media critics have claimed that the national news media failed to keep the White House accountable before the invasion. Greg Mitchell, the author of So Wrong for So Long, a book about press and presidential failures on the war, argues that some media organizations have yet to come to terms with their role.

Note: For a powerful overview of the media cover-up by top, award-winning journalists, click here.

Lou Dobbs Tonight: NAFTA Superhighway
2008-05-28, CNN News
http://transcripts.cnn.com/TRANSCRIPTS/0805/28/ldt.01.html

[News anchor LOU DOBBS:] Open borders advocates are refusing to acknowledge rising evidence of plans for a NAFTA superhighway. Many in the mainstream media absolutely refuse to acknowledge the reality. The plans could be a major step toward that North American Union of the United States, Canada and Mexico. BILL TUCKER, CNN Correspondent: There is no NAFTA superhighway. Not officially. In Texas planning a development is under way for what are officially called transportation corridors. The Trans Texas Corridor, I-69, a combination of rail lines, utility lines, car and truck lanes, [is planned] to be as wide as three football fields laid end to end. It will be financed by a private foreign company ... who will then own the lease on the road and the revenue generated by the tolls. Texas may use eminent domain to lay claim to some of the land needed to build it. For an imaginary road there's a lot of money and effort involved [and] some very real opposition. TERRI HALL, TEXASTURF.ORG: There's just no doubt that this is happening. We've been to the public hearings. We've seen the presentations. We've seen the documents. We waded through them and there's a whole lot more groups besides just ours. And we've got Farm Bureau, Sierra Club, a whole host of groups from the left and the right. TUCKER: In Kansas a resolution opposing the superhighway overwhelmingly passed the State House.

Note: To watch a video of this Lou Dobbs Tonight segment, click here.

The three trillion dollar war
2008-02-23, The Telegraph (One of the U.K.'s leading newspapers)
http://www.timesonline.co.uk/tol/comment/columnists/guest_contributors/articl...

The Bush Administration was wrong about the benefits of the war and it was wrong about the costs of the war. The president and his advisers [forecast] a quick, inexpensive conflict. Instead, we have a war that is costing more than anyone could have imagined. The cost of direct US military operations - not even including long-term costs such as taking care of wounded veterans - already exceeds the cost of the 12-year war in Vietnam and is more than double the cost of the Korean War. And, even in the best case scenario, these costs are projected to be almost ten times the cost of the first Gulf War, almost a third more than the cost of the Vietnam War, and twice that of the First World War. The only war in our history which cost more was the Second World War, when 16.3 million U.S. troops fought in a campaign lasting four years, at a total cost (in 2007 dollars, after adjusting for inflation) of about $5 trillion. Most Americans have yet to feel these costs. The price in blood has been paid by our voluntary military and by hired contractors. The price in treasure has, in a sense, been financed entirely by borrowing. Taxes have not been raised to pay for it - in fact, taxes on the rich have actually fallen. Deficit spending gives the illusion that the laws of economics can be repealed, that we can have both guns and butter. But of course the laws are not repealed. The costs of the war are real even if they have been deferred, possibly to another generation. From the unhealthy brew of emergency funding, multiple sets of books, and chronic underestimates of the resources required to prosecute the war, we have attempted to identify how much we have been spending - and how much we will, in the end, likely have to spend. The figure we arrive at is more than $3 trillion. Our calculations are based on conservative assumptions.

Note: For many reports from major media sources which reveal massive war profiteering, click here.

Advertisers using 'directed sound' to get in your head
2008-02-19, Atlanta Journal-Constitution (Atlanta's leading newspaper)
http://www.ajc.com/services/content/business/stories/2008/02/18/sound_0219.html

If you hear mysterious voices in your head the next time you stroll down the street, they may be trying to sell you something. That was the case recently in New York when people walking beneath a billboard for the A&E show "Paranormal State" suddenly heard a woman's disembodied voice whisper: "Who's there? Who's there?" and "It's not your imagination." The creepy effect was caused by technology called Audio Spotlight that projects sound in a focused beam so only people in a certain spot can hear it. "The idea of directing sound was a real uphill battle when we first started, but all of a sudden people are coming to us saying, 'We have to have directional sound. We don't want all this noise in our store,' " said Woody Norris, founder of American Technology Corp. in San Diego. Norris said he has sold many units for use with video screens in checkout lines in ... grocery stores so audio can reach waiting customers without constantly bombarding store workers. While some of the advertising applications are recent, directed sound is often used in museums and other places where sound must be focused on people standing in front of an exhibit or display without disturbing those around them. Smithsonian museums in Washington have used [such] systems [as have] the New York Public Library, the Boston Museum of Fine Arts and ... the observation deck of the Seattle Space Needle. Directed-sound devices ... use narrow beams of ultrasound waves that can't be heard by human ears. The beam distorts air as it passes through, generating sound people can hear along its length.

Note: It's not hard to imagine non-advertising uses for this invasive technology. Could it possibly be used to influence people's thinking in ways other than advertising?

Stimulus Plan a Scam to Benefit the Rich
2008-02-03, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/02/03/IN8LUO095.DTL

Congress is about to sell us the biggest fraud in American history. It's been highly touted as an economic stimulus bill that will help millions of Americans. As part of the bill, Congress is set to rush through an increase in the mortgage loan limits for Fannie Mae and Freddie Mac (and Federal Housing Administration insurance, too) - from $417,000 to $729,750 - the first step toward a massive financial disaster in which taxpayers will end up paying through the nose. Now, thanks to Congress, junk bond investors will be able to pawn off their bad debt to Fannie and Freddie. This shift will certainly doom Fannie Mae and Freddie Mac, so don't be surprised if we, the taxpayers, have to bail out poor Fannie and Freddie - to the tune of more than $1 trillion. The irony here is that the collapse in housing prices could make Fannie insolvent even without raising the loan limit. Increasing Fannie's limit is like going on a spending spree with your credit cards because you know you are going to file for bankruptcy in a few months. Only here the taxpayer is left holding the bag. Our children will pay interest on this debt in perpetuity. It is our debt. It is inescapable. In the coming months, Fannie and Freddie will buy up mortgages based on old, fraudulent appraisals and on loans with bogus inflated incomes. Unfortunately, many of these loans will still default. Expansion of Fannie and Freddie's reckless lending is exactly what Congress wants because it's plausibly deniable. Teary-eyed lawmakers can take to the airwaves a year from now and declare: "We had no idea Fannie could go under, but we can't cut and run now. Those same lawmakers won't mention the fact that they get paid far more by real estate lobbyists than they do from our Treasury.

Note: The author wrote this article seven months before the collapse of Fannie Mae and eight months before the huge banking bailout. For more news articles suggestion major manipulations to transfer public tax monies to the banking sector, click here.

U.S. Medical Schools, Drug Makers Share Strong Ties
2007-10-16, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2007/10/16/AR20071016014...

More than half of department chairs at U.S. medical schools and teaching hospitals have financial ties with the drug industry, a new study finds. "There is not a single aspect of medicine in which the drug companies do not have substantial and deep relationships, [including] doctors-in-training, resident physicians, researchers, physicians-in-practice, the people who review drugs for the federal government and the people who review studies," said lead researcher Eric Campbell, associate professor at the Institute for Health Policy at Massachusetts General Hospital and Harvard Medical School in Boston. "Drug companies have relationships with everyone," he continued. "They're involved in every aspect of medicine. Someone has to decide which of these is OK." The study, the first to examine the extent of these institutional relationships, is published in the Oct. 17 issue of the Journal of the American Medical Association. "I think the paper is a very valuable contribution, in that it provides what's probably the first comprehensive documentation of the extent of relationships that involve department chairs, and department chairs are certainly the key agents of overseeing and maintaining the day-to-day operations of a medical school or teaching hospital," said Dr. David Korn ... at the Association of American Medical Colleges in Washington, D.C. The issue of medicine's ties to industry has been a hot one of late. One study found that third-year medical students get, on average, one gift or attend one activity sponsored by a drug maker each week. "Now it's up to the policymakers and people who run medical schools," said Campbell. "They need to come up with some rules and they need to be new rules. I believe there's very little reasonable justification for why drug companies should be involved in the education of medical students."

Note: For a powerful overview of medical corruption, click here.

Report Assails F.D.A. Oversight of Clinical Trials
2007-09-27, New York Times
http://www.nytimes.com/2007/09/28/health/policy/28fda.html?ex=1348632000&en=d...

The Food and Drug Administration does very little to ensure the safety of the millions of people who participate in clinical trials, a federal investigator has found. The inspector general of the Department of Health and Human Services, Daniel R. Levinson, said federal health officials did not know how many clinical trials were being conducted, audited fewer than 1 percent of the testing sites and, on the rare occasions when inspectors did appear, generally showed up long after the tests had been completed. The F.D.A. has 200 inspectors, some of whom audit clinical trials part time, to police an estimated 350,000 testing sites. Even when those inspectors found serious problems in human trials, top drug officials in Washington downgraded their findings 68 percent of the time, the report found. Among the remaining cases, the agency almost never followed up with inspections to determine whether the corrective actions that the agency demanded had occurred. “In many ways, rats and mice get greater protection as research subjects in the United States than do humans,” said Arthur L. Caplan, chairman of the department of medical ethics at the University of Pennsylvania. Animal research centers have to register with the federal government, keep track of subject numbers, have unannounced spot inspections and address problems speedily or risk closing, none of which is true in human research, Mr. Caplan said. Because no one collects the data systematically, there is no way to tell how safe the nation’s clinical research is or ever has been. The drug agency oversees just the safety of trials by companies seeking approval to sell drugs or devices. Using an entirely different set of rules, the Office for Human Research Protections oversees trials financed by the federal government. Privately financed noncommercial trials have no federal oversight.

Note: For further information on corruption in the health care industry, click here.

Who Runs the CIA? Outsiders for Hire.
2007-07-08, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2007/07/06/AR20070706019...

The most intriguing secrets of the "war on terror" have nothing to do with al-Qaeda and its fellow travelers. They're about the mammoth private spying industry that all but runs U.S. intelligence operations today. In April, Director of National Intelligence Mike McConnell was poised to publicize a year-long examination of outsourcing by U.S. intelligence agencies. But the report was inexplicably delayed -- and suddenly classified a national secret. What McConnell doesn't want you to know is that the private spy industry has succeeded where no foreign government has: It has penetrated the CIA and is running the show. Over the past five years (some say almost a decade), there has been a revolution in the intelligence community toward wide-scale outsourcing. Private companies now perform key intelligence-agency functions, to the tune ... of more than $42 billion a year. Intelligence professionals [say] that more than 50 percent of the National Clandestine Service (NCS) -- the heart, brains and soul of the CIA -- has been outsourced to private firms such as Abraxas, Booz Allen Hamilton, Lockheed Martin and Raytheon. These firms recruit spies, create non-official cover identities and control the movements of CIA case officers. They also provide case officers and watch officers at crisis centers and regional desk officers who control clandestine operations worldwide. As The Los Angeles Times first reported last October, more than half the workforce in two key CIA stations -- Baghdad and Islamabad, Pakistan -- is made up of industrial contractors, or "green badgers," in CIA parlance. Intelligence insiders say that entire branches of the NCS have been outsourced to private industry.

Psychiatrists Top List in Drug Maker Gifts
2007-06-27, New York Times
http://www.nytimes.com/2007/06/27/health/psychology/27doctors.html?ex=1340596...

As states begin to require that drug companies disclose their payments to doctors for lectures and other services, a pattern has emerged: psychiatrists earn more money from drug makers than doctors in any other specialty. How this money may be influencing psychiatrists and other doctors has become one of the most contentious issues in health care. For instance, the more psychiatrists have earned from drug makers, the more they have prescribed a new class of powerful medicines known as atypical antipsychotics to children, for whom the drugs are especially risky and mostly unapproved. Vermont officials disclosed Tuesday that drug company payments to psychiatrists in the state more than doubled last year, to an average of $45,692 each from $20,835 in 2005. Antipsychotic medicines are among the largest expenses for the state’s Medicaid program. Over all last year, drug makers spent $2.25 million on marketing payments, fees and travel expenses to Vermont doctors, hospitals and universities, a 2.3 percent increase over the prior year, the state said. The number most likely represents a small fraction of drug makers’ total marketing expenditures to doctors since it does not include the costs of free drug samples or the salaries of sales representatives and their staff members. According to their income statements, drug makers generally spend twice as much to market drugs as they do to research them. Endocrinologists received the second largest amount, according to the Vermont analysis, earning an average of $33,730. Since the state identified the specialties of only the top 100 earners, these averages represent the money earned by only some of the state’s specialists. There were 11 psychiatrists and 5 endocrinologists in that top group of 100.

Note: For much more reliable, verifiable information on corruption in the pharmaceutical industry, click here.

Doctors’ Ties to Drug Makers Are Put on Close View
2007-03-21, New York Times
http://www.nytimes.com/2007/03/21/us/21drug.html?ex=1332129600&en=8ab21926768...

Dr. Allan Collins ... is president of the National Kidney Foundation. In 2004 ... the pharmaceutical company Amgen, which makes the most expensive drugs used in the treatment of kidney disease, underwrote more than $1.9 million worth of research and education programs led by Dr. Collins. In 2005, Amgen paid Dr. Collins at least $25,800, mostly in consulting and speaking fees. The payments to Dr. Collins and the research center ... come from Minnesota, the first of a handful of states to pass a law requiring drug makers to disclose payments to doctors. The Minnesota records are a window on the widespread financial ties between pharmaceutical companies and the doctors who prescribe and recommend their products. From [1997] through 2005, drug makers paid more than 5,500 doctors, nurses and other health care workers in the state at least $57 million. More than 100 people received more than $100,000. Research shows that doctors who have close relationships with drug makers tend to prescribe more, newer and pricier drugs — whether or not they are in the best interests of patients. Drug companies “want somebody who can manipulate in a very subtle way,” said Dr. Frederick R. Taylor. Kathleen Slattery-Moschkau, a former sales representative [said] “it all comes down to ways to manipulate the doctors.” Some of the doctors receiving the most money sit on committees that prepare guidelines instructing doctors nationwide about when to use medicines. “It is critical that the experts who write clinical guidelines be prohibited from having any conflicts of interest,” said Dr. Marcia Angell, a former editor of The New England Journal of Medicine.

Note: This article only scratches the surface of legal and illegal corruption by the powerful pharmaceutical industry. If you care about who really controls our health system, don't miss Dr. Marcia Angell's incredibly revealing essay showing the unbelievable wealth and influence of the drug companies available here.

Carlyle Changes Its Stripes
2007-02-12, BusinessWeek
http://www.businessweek.com/magazine/content/07_07/b4021001.htm

In the two decades since private equity firms first stormed the business world, they've been called a lot of things, from raiders to barbarians. But only [the Carlyle Group] has been tagged in the popular imagination with warmongering, treason, and acting as cold-eyed architects of government conspiracies. Carlyle, founded 20 years ago in the shadow of Washington's power centers, long went about its business far from the public eye. Its ranks were larded with the politically connected, including former Presidents, Cabinet members, even former British Prime Minister John Major. It used its partners' collective relationships to build a lucrative business buying, transforming, and selling companies -- particularly defense companies that did business with governments. Carlyle's radical makeover has turned the firm into the biggest fund-raising juggernaut the private equity world has ever seen. By the end of this year it expects to have an unprecedented $85 billion in investor commitments under management, up sixfold from 2001 and more than any other firm. [Founder David] Rubenstein sees the total swelling to as much as $300 billion by 2012. Make no mistake--Carlyle is already massive. It owns nearly 200 companies that generate a combined $68 billion in revenue and employ 200,000 people. Last year it bought a new company approximately once every three days and sold one almost once a week -- all while dabbling in increasingly esoteric investments. Since its founding in 1987 it has generated annualized after-fee returns of 26%, compared with the industry average in the mid-teens.

Note: With former presidents including George H.W. Bush and many other top world politicians helping to sway huge military contracts, could this be considered a form of insider trading? Those 26% yearly returns are placing our tax monies in the hands of individuals and companies that are already among the wealthiest in the world. For lots more on manipulation of your tax money, click here. And for a Washington Post article showing Osama Bin Laden's brother met with George H.W. Bush at a Carlyle meeting one day before 9/11, click here.

Bribes offered to scientists
2007-02-03, Sydney Morning Herald (Australia's leading newspaper)
http://www.smh.com.au/news/environment/bribes-offered-to-scientists/2007/02/0...

Scientists and economists have been offered $10,000 each by a lobby group funded by one of the world's largest oil companies to undermine the UN climate change report. Letters sent by the American Enterprise Institute, an ExxonMobil-funded think tank with close links to the Bush Administration, offered the payments for articles that emphasise the shortcomings of the report. Travel expenses and additional payments were also offered. The institute has received more than $1.6 million from ExxonMobil - which yesterday announced a $50 billion annual profit, the biggest ever by a US company - and more than 20 of its staff have worked as consultants to the Bush Administration. A former head of ExxonMobil, Lee Raymond, is the vice-chairman of the institute's board of trustees.

Note: Why wasn't this important story covered by any major media in the U.S.? For an answer, click here.

Drug company 'hid' suicide link
2007-01-29, BBC News
http://news.bbc.co.uk/1/hi/programmes/panorama/6291773.stm

Secret emails reveal that the UK's biggest drug company distorted trial results of an anti-depressant, covering up a link with suicide in teenagers. GlaxoSmithKline (GSK) attempted to show that Seroxat worked for depressed children despite failed clinical trials. And that GSK-employed ghostwriters influenced 'independent' academics. GSK faces action in the US where bereaved families have joined together to sue the company. As a result, GSK has been forced to open its confidential internal archive. Karen Barth Menzies is a partner in one of the firms representing many of the families. She has examined thousands of the documents which are stored, box upon box, in an apartment in Malibu, California. She said: "Even when they have negative studies that show that this drug Seroxat is going to harm some kids they still spin that study as remarkably effective and safe for children." An email from a public relations executive working for GSK ... said: "Originally we had planned to do extensive media relations surrounding this study until we actually viewed the results. Essentially the study did not really show it was effective in treating adolescent depression, which is not something we want to publicise." Seroxat was banned for under 18s in 2003 after the MHRA revealed that GSK's own studies showed the drug actually trebles the risk of suicidal thoughts and behaviour in depressed children.

Note: For more reliable information on how the drug companies put profits ahead of your health, click here.

Molecule offers cancer hope
2007-01-17, Toronto Star (One of Canada's leading newspapers)
http://www.thestar.com/News/article/171898

In results that "astounded" scientists, an inexpensive molecule known as DCA was shown to shrink lung, breast and brain tumours in both animal and human tissue experiments. The study was published yesterday in the journal Cancer Cell. "I think DCA can be selective for cancer because it attacks a fundamental process of cancer that is unique to cancer cells," said Dr. Evangelos Michelakis, a professor at the Edmonton university's medical school and one of the study's key authors. The molecule appears to repair damaged mitochondria in cancer cells. "When a cell is getting too old or doesn't function properly, the mitochondria are going to induce the cell death," lead study author Sebastien Bonnet said yesterday. Bonnet says DCA – or dichloroacetate – appears to reverse the mitochondrial changes in a wide range of cancers. "One of the really exciting things about this compound is that it might be able to treat many different forms of cancer because all forms of cancer suppress mitochondrial function," Michelakis said. Bonnet says DCA may also provide an effective cancer treatment because its small size allows easy absorption into the body, ensuring it can reach areas that other drugs cannot, such as brain tumours. Because it's been used to combat other ailments ... DCA has been shown to have few toxic effects on the body. Its previous use means it can be immediately tested on humans. Unlike other cancer drugs, DCA did not appear to have any negative effect on normal cells. It could provide an extremely inexpensive cancer therapy because it's not patented. But ... the lack of a patent could lead to an unwillingness on the part of pharmaceutical companies to fund expensive clinical trials.

Note: Even these scientists realize that though this discovery could be a huge benefit to mankind, because the drug companies will lose profits, they almost certainly will not fund studies. Expensive AIDS drugs with promising results, on the other hand, are rushed through the studies to market. For more reliable, verifiable information on how hugely beneficial health advances are shut down to keep profits high, click here and here.

Industry 'paid top cancer expert'
2006-12-08, BBC News
http://news.bbc.co.uk/1/hi/health/6220440.stm

The scientist who first linked smoking to lung cancer was [later] paid by a chemicals firm while investigating cancer risks in the industry. Professor Sir Richard Doll held a consultancy post with US firm Monsanto for more than 20 years. The BBC has seen private letters which show that Sir Richard ... received a US$1,500-a-day consultancy fee from Monsanto in the mid-1980s. During that time he investigated the potential cancer causing properties of the powerful herbicide Agent Orange, made by the company. Sir Richard [argued] that there was no evidence that Agent Orange caused cancer. Professor Lennart Hardell, of the Oncology Department at University Hospital Orebro, Sweden, has also studied the potential hazards posed by Agent Orange. He was one of the scientists whose work was dismissed by Sir Richard. He said: "It's quite OK to have contacts with industry, but you should be fair and say 'well, I'm [working] as a consultant for Monsanto." Further documents obtained by The Guardian newspaper allegedly show that Sir Richard was also paid a £15,000 fee by the Chemical Manufacturers Association, and chemicals companies Dow Chemicals and ICI for a review of vinyl chloride, used in plastics, which largely cleared the chemical of any link with cancers apart from liver cancer. Sir Richard's views on the chemical were used by the manufacturers' trade association to defend it for more than a decade.

Ex-security officials rake it in
2006-06-18, Seattle Times/New York Times
http://seattletimes.nwsource.com/html/nationworld/2003068930_homeland18.html

Dozens of members of the Bush administration's domestic-security team...are collecting bigger paychecks in different roles: working on behalf of companies that sell security products, many directly to the federal agencies the officials once helped run. At least 90 officials at the Department of Homeland Security or the White House Office of Homeland Security...are executives, consultants or lobbyists for companies that collectively do billions of dollars' worth of domestic-security business. Former Homeland Security Secretary Tom Ridge...stands to profit now that Savi Technology, a maker of radio-frequency-identification equipment that the department pushed while he was secretary, is being bought by Lockheed Martin. He was appointed to the Savi board three months after resigning from the department. Former Homeland Security undersecretary Asa Hutchinson...the biggest potential for profit among Hutchinson's ventures appears to come from his role as an investor in Fortress America Acquisition. Hutchinson, before the [company's] stock was sold publicly, bought 200,000 shares for $25,000. At Friday's trading price the stock was worth more than $1.2 million. More than two-thirds of the department's most senior executives in its first years have moved through the revolving door. Federal law prohibits senior executive-branch officials from lobbying former government colleagues or subordinates for at least a year after leaving public service. But by exploiting loopholes in the law...it is often easy for former officials to do just that.

Robbery, not reconstruction, in Iraq
2006-04-18, Boston Globe
http://www.boston.com/news/globe/editorial_opinion/oped/articles/2006/04/18/r...

We have heard various individual cases of overcharging and fraud by American firms in the reconstruction of Iraq. A year ago, an audit by the inspector general found no evidence of work done or goods delivered on 154 of 198 contracts. Sixty cases of potential swindles are under investigation. Halliburton and its hundreds of millions of dollars of overcharges or baseless costs are well known. But millions more were taken by companies that promised to build or restore libraries or police facilities, or deliver trucks and construction equipment. US government investigators can account for only a third of the $1.5 billion given by the CPA to the interim government and it appears that a substantial portion of the $8 billion given to Iraqi ministries went to "ghost employees." Because of the way the United States set things up after the invasion, contractors are immune from prosecution by Iraqis. This is robbery, not reconstruction. It has been three years and all Iraq has become is a "free-fraud zone," according to one of the attorneys for whistleblowers in Iraqi swindles. Recently, the Army found that Halliburton had $263 million of exaggerated or unexplainable costs on a $2.4 billion no-bid contract, yet still paid Halliburton $253 million of the $263 million.

Corporate Wealth Share Rises for Top-Income Americans
2006-01-29, New York Times
http://www.nytimes.com/2006/01/29/national/29rich.html?ex=1296190800&en=78482...

New government data indicate that the concentration of corporate wealth among the highest-income Americans grew significantly in 2003, as a trend that began in 1991 accelerated in the first year that President Bush and Congress cut taxes on capital. In 2003 the top 1 percent of households owned 57.5 percent of corporate wealth, up from 53.4 percent the year before, according to a Congressional Budget Office analysis of the latest income tax data. The top group's share of corporate wealth has grown by half since 1991, when it was 38.7 percent. In 2003, incomes in the top 1 percent of households ranged from $237,000 to several billion dollars. For every group below the top 1 percent, shares of corporate wealth have declined since 1991. Long-term capital gains were taxed at 28 percent until 1997, and at 20 percent until 2003, when rates were cut to 15 percent. The top rate on dividends was cut to 15 percent from 35 percent that year. The White House said it did not believe that the 2003 tax cuts had much influence on wealth shares.

No Boundaries
2005-06-09, CNN News
http://transcripts.cnn.com/TRANSCRIPTS/0506/09/ldt.01.html

A panel sponsored by the Council on Foreign Relations wants the United States to focus not on the defense of our own borders, but rather create what effectively would be a common border that includes Mexico and Canada. CHRISTINE ROMANS, CNN CORRESPONDENT: On Capitol Hill, testimony [is] calling for Americans to start thinking like citizens of North America and treat the U.S., Mexico and Canada like one big country. That's the view in a report called "Building a North American Community." It envisions a common border around the U.S., Mexico and Canada in just five years, a border pass for residents of the three countries, and a freer flow of goods and people. [Task force member Robert] PASTOR: What we hope to accomplish by 2010 is a common external tariff which will mean that goods can move easily across the border. We want a common security perimeter around all of North America. ROMANS: Security experts say folding Mexico and Canada into the U.S. is a grave breach of that sovereignty. [The report calls for] temporary migrant worker programs expanded with full mobility of labor between the three countries in the next five years. The idea here is to make North America more like the European Union. [CNN Anchor Lou] DOBBS: Americans must think that our political and academic elites have gone utterly mad at a time when three-and-a-half years, approaching four years after September 11, we still don't have border security. And this group of elites is talking about not defending our borders, finally, but rather creating new ones. It's astonishing.

Note: This agenda is being promoted in key political forums with practically no media reporting. For one of the few media articles reporting on this important topic, click here.

Advanced vehicles demonstrate zero oil-consumption, reduced emissions
2005-05-18, Boston Globe
http://www.boston.com/cars/news/2005/may/0518_tourdesol.html

Carmakers such as Toyota and Honda can't seem to make hybrid vehicles fast enough to keep up with public interest. Interest in this new technology is growing, and one group is highlighting these technical marvels in a yearly event called the Tour de Sol. Top prize for the Monte-Carlo Rally went to a modified Honda Insight driven by Brian Hardegen, of Pepperell, who broke the 100-mile-per-gallon barrier over a 150-mile range. The car actually got 107 miles-per gallon. St. Mark's High School in Southboro, and North Haven Community School, North Haven, ME, demonstrated true zero-oil consumption and true zero climate-change emissions with their modified electric Ford pick-up and Volkswagen bus. More than 60 hybrid, electric and biofueled vehicles from throughout the US and Canada demonstrated that we have the technology today to power our transportation system with zero-oil consumption and zero climate-change emissions.

Note: If the above link fails, click here. If high school students can do it, why aren't the car companies seriously developing these technologies? And why are car manufacturers not able to keep up with demand on hybrid vehicles? For more, click here.

Merck's infant vaccine stirs new controversy
2005-03-08, Newsday/Los Angeles Times
http://www.nynewsday.com/news/health/ny-usglan084168623mar08,0,3713664.story

Merck & Co. continued to supply infant vaccine containing a mercury preservative for two years after declaring that it had eliminated the chemical. Thimerosal, which is nearly 50 percent ethyl mercury, has largely been eliminated from most routine childhood vaccines, although it is present in most flu shots. More than 4,200 parents have filed claims in the federal Vaccine Injury Compensation Program, alleging that their children suffered autism or other neurological disorders from mercury in their shots.

Halliburton operates in Iran despite sanctions
2005-03-07, MSNBC News
http://www.msnbc.msn.com/id/7119752

in January, Halliburton won a contract to drill at a huge Iranian gas field called Pars, which an Iranian government spokesman said "served the interests" of Iran. "I am baffled that any American company would want to have employees operating in Iran," says Sen. Susan Collins, R-Maine. "I would think they'd be ashamed." Halliburton says the operation — videotaped by NBC News — is entirely legal. It's run by a subsidiary called "Halliburton Products and Services Limited," based outside the U.S. In fact, the law allows foreign subsidiaries of U.S. corporations to do business in Iran under strict conditions. Other U.S. oil services companies, like Weatherford and Baker Hughes, also are in Iran. And foreign subsidiaries of NBC's parent company, General Electric, have sold equipment to Iran. For Halliburton to have done this legally, the foreign subsidiary operating in Iran must be independent of the main operation in Texas. Yet, when an NBC producer approached managers in Iran, he was sent to company officials in Dubai. But they said only Halliburton headquarters in Houston could talk about operations in Iran.

How Bush's grandfather helped Hitler's rise to power
2004-09-25, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/usa/story/0,12271,1312540,00.html

George Bush's grandfather, the late US senator Prescott Bush, was a director and shareholder of companies that profited from their involvement with the financial backers of Nazi Germany. Newly discovered files in the US National Archives [confirm] that a firm of which Prescott Bush was a director was involved with the financial architects of Nazism. His business dealings...continued until his company's assets were seized in 1942 under the Trading with the Enemy Act. There has been a steady internet chatter about the "Bush/Nazi" connection, much of it inaccurate and unfair. But the new documents, many of which were only declassified last year, show that even after America had entered the war...he worked for and profited from companies closely involved with the very German businesses that financed Hitler's rise to power. Remarkably, little of Bush's dealings with Germany has received public scrutiny, partly because of the secret status of the documentation involving him. But now [a] multibillion dollar legal action for damages by two Holocaust survivors against the Bush family, and the imminent publication of three books on the subject are threatening to make Prescott Bush's business history an uncomfortable issue for his grandson. Three sets of archives spell out Prescott Bush's involvement. All three are readily available, thanks to the efficient US archive system. Like his son, George, and grandson, George W, he went to Yale where he was, again like his descendants, a member of the secretive and influential Skull and Bones student society.

U.S. corporations paying less in taxes
2004-09-23, MSNBC/Forbes
http://msnbc.msn.com/id/6080561/

The effective tax rate for America's largest and most profitable corporations has sharply declined in recent years, and one third of such companies paid zero taxes -- or less -- in at least one of the last three years. In 2003 alone, 46 of the 275 companies...paid no taxes at all in 2003, despite reporting a total of $42.6 billion in pre-tax profits. Indeed, these companies received $5.4 billion in tax rebates that year. Half of the "tax-break dollars" over the three-year period went to just 25 companies. All told, 82 companies paid zero or negative taxes in at least one of the last three years and 28, including Boeing, paid negative taxes for the entire period. The largest beneficiaries were some of the most profitable companies: General Electric, SBC Communications, Citigroup, IBM and Microsoft. Of the 10 most profitable U.S.-based companies on the Forbes 2000, only Wal-Mart and Freddie Mac do not appear on the study's list of top 25 tax break beneficiaries. At the same time, IRS data indicates that the overall share of federal taxes paid by corporations in now less than 10 percent, down from nearly 13 percent in 1997. This trend occurred against a backdrop of rising corporate earnings. The study attributes the trend to the widening availability of offshore tax shelters and other lawful avoidance techniques.

The Truth About the Drug Companies (Book Review)
2004-07-15, New York Review of Books
http://www.nybooks.com/articles/17244

The combined profits for the ten drug companies in the Fortune 500 ($35.9 billion) were more than the profits for all the other 490 businesses put together ($33.7 billion). Over the past two decades the pharmaceutical industry has moved very far from its original high purpose of discovering and producing useful new drugs. Now primarily a marketing machine to sell drugs of dubious benefit, this industry uses its wealth and power to co-opt every institution that might stand in its way, including the US Congress, the FDA, academic medical centers, and the medical profession itself. The great majority of "new" drugs are not new at all but merely variations of older drugs already on the market. Of the 78 drugs approved by the FDA in 2002, only 17 contained new active ingredients, and only seven of these were classified by the FDA as improvements over older drugs. [The] market would collapse virtually overnight if the FDA made approval of new drugs contingent on their being better in some important way than older drugs already on the market. Many medical schools and teaching hospitals set up "technology transfer" offices to ... capitalize on faculty discoveries. Medical school faculty entered into ... lucrative financial arrangements with drug companies, as did their parent institutions. One of the results has been a growing pro-industry bias in medical research—exactly where such bias doesn't belong. The industry ... fought the state of Maine all the way to the US Supreme Court, which in 2003 upheld Maine's right to bargain with drug companies for lower prices. This industry is taking us for a ride, and there will be no real reform without an aroused and determined public to make it happen.

Note: The above book and book review was written by Dr. Marcia Angell, former editor in chief of the prestigious The New England Journal of Medicine. For more reliable information on the health cover-up, click here.

State take from corporate income falls
2004-04-15, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2004/04/15/...

Individual Californians are shouldering an increasing percentage of the state's general fund, while the share of revenue from corporate income taxes has declined, according to a new analysis by a think tank in Sacramento. "Over time, the burden of paying for public services has, in a fairly dramatic way, shifted from businesses to individuals,'' said Jean Ross, director of the nonprofit California Budget Project in Sacramento. Ross went back more than 40 years to track how much the state derived from its three main revenue sources: personal income tax, sales tax and corporate income tax. Over time, income taxes paid by individuals have risen to fill half of the state's coffers, while corporate income taxes have fallen to about 10 percent of the take. Dan Bucks, executive director of the Multistate Tax Commission, said the decline in corporate taxes as a share of state coffers is occurring in all 47 states that levy some form of business or corporate tax. "Our data indicate that ... corporate income taxes were 9.7 percent of state revenues in 1980 and 4.9 percent in 2002,'' he said. Personal income taxes -- levied in more than 40 states -- have also risen nationwide "in a virtually straight line,'' he said. Corporations have gotten better at sheltering income from both federal and state taxes. For instance, the General Accounting Office, watchdog agency of Congress, recently reported that more than 60 percent of U.S. corporations paid no federal taxes from 1996 through 2000.

New documents show the monkey virus is present in more recent polio vaccine
2001-07-22, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2001/07/22/MN173141.DTL

A monkey virus linked to human cancers may have contaminated the oral polio vaccine for years after the U.S. government ordered manufacturers to remove it. The Chronicle reported last week that the simian virus SV40 had contaminated early polio vaccine given to millions of Americans. When health officials discovered in 1961 that SV40 caused malignant tumors in lab animals, they ordered the virus eliminated from all future vaccine. But internal memos from Lederle Laboratories, the chief producer of polio vaccine in the United States, indicate SV40 may not have been completely removed. According to one memo, SV40 was found in three of 15 lots of the oral vaccine seven months after the federal directive was issued in March 1961. Lederle released the contaminated vaccine to the public anyway, the memo shows. Scientists discovered SV40 in the Salk polio vaccine in 1960. By then as many as 30 million Americans had been given injections of the SV40-tainted polio vaccine, which was first licensed in 1955. In recent years more than 60 scientific studies have found SV40 in rare human brain, bone and lung-related cancers, the same kinds of tumors the virus caused in laboratory animals. Some scientists believe SV40 may play a role in causing those cancers. The Lederle documents, which were obtained by Philadelphia attorney Stanley Kops in litigation not related to SV40, raise the possibility the virus might have been transmitted by contaminated oral vaccine, licensed for production in 1962.

Note: There are numerous major problems with how vaccines are monitored and developed, yet the media largely fails to address this major issue. For many powerful reports from reliable sources on the dangers of vaccines, click here. For lots more, click here and here.

Trade Secrets: A Moyers Report
2001-03-29, PBS
http://www.pbs.org/tradesecrets/program/overview.html

Twenty-three years to the day after he went to work with vinyl chloride and other toxic chemicals at a plant in Lake Charles, Louisiana, Dan Ross died of a rare brain cancer. He was 46 years old, convinced that his job had killed him. His wife, Elaine, sued her husband's former employer and, over the next decade, the process of legal discovery led deeper and deeper into the inner chambers of the chemical industry and its Washington trade association. Hundreds of thousands of pages of documents were unearthed. In TRADE SECRETS: A MOYERS REPORT, journalist Bill Moyers and producer Sherry Jones investigated the Ross archive – secrets the chemical industry never intended the public to see – and discovered a shocking story. The confidential papers reveal the industry's early knowledge of vinyl chloride's dangerous effects, as well as the industry's long silence on the subject. The program also reports a much larger story. Buried in the thousands of pages of documents – minutes from board meetings, reports from industry scientists, internal memoranda – is a never-before-told account of a campaign to limit the regulation of toxic chemicals and any liability for their effects, at the same that the companies work to withhold vital information about risks from workers, the government – and the public. Over the last five decades, more than 75,000 chemicals have been produced, turned into consumer products or released into the environment. Today, every man, woman and child has synthetic chemicals in their bodies. No child is born free of them. Are they safe? Does anyone know?

Note: This article also mentions that even though Moyers never lived near a chemical plant, tests showed that his body contained a chemical soup of 84 industrial chemicals, including 31 different types of PCBs, 13 different dioxins, and pesticides such as DDT. Why are these chemicals so poorly studied and the dangerous effects hidden from us? For lots more from reliable sources on corporate corruption, click here.

Colorful Outsider Is Named No. 3 at the CIA
2001-03-17, Washington Post
http://washingtonpost.com/wp-dyn/articles/A16570-2001Mar16.html

A.B. "Buzzy" Krongard, a ... former investment banker ... was named yesterday executive director of the CIA, bringing a fast-paced management style to the agency's No. 3 job. Central Intelligence Agency Director George J. Tenet announced the appointment, saying he treasures Krongard's "wise counsel and 'no-nonsense' business-like views." Krongard, 64, former head of Alex. Brown & Co., an investment bank based in Baltimore, joined the agency three years ago as a counselor to Tenet. He switched careers shortly after helping engineer the $2.5 billion merger of Alex. Brown and Bankers Trust New York Corp., gaining $71 million in Bankers Trust stock. Few of his former colleagues were surprised by his decision to trade a $4 million salary and stock options for the far less remunerative job of Tenet's consigliere. A graduate of Princeton and the University of Maryland Law School, Krongard has a fondness for extreme military-style activities. Even as a banking executive, he trained with police SWAT teams for recreation and worked out with a kung fu master. He maintained a shooting range on the park-like grounds of his home on the northern edge of Baltimore. In an interview yesterday, Krongard described his past duties as those of a "minister without portfolio" whom senior managers felt comfortable talking to about "sticky subjects." But Krongard exhibited the requisite secretiveness when asked to explain his interest in intelligence and how he came to land a job in Tenet's inner circle. If you go back to the CIA's origins during World War II in the Office of Strategic Services, he explained, "the whole OSS was really nothing but Wall Street bankers and lawyers."

Note: Buzzy Krongard was the executive director of the CIA on 9/11. His past ties to the investment firm which placed most of the extraordinarily high volume of "put options" on United and American Airlines stocks the week before the attacks is one of many strange "coincidences" unexplained by the official story of what happened on that horrific day. For more on this, click here. To read the entire article free of charge, click here.

Who pulls the strings?
2001-03-10, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/books/2001/mar/10/extract1

So this is how it works. A tiny, shoe-string central office in Holland decides each year which country will host the next meeting. Each country has two steering committee members. They call up Bilderberg-friendly global corporations, such as Xerox or Heinz or Fiat or Barclays or Nokia, which donate the hundreds of thousands of pounds needed. They do not accept unsolicited donations from non-Bilderberg corporations. Nobody can buy their way into a Bilderberg meeting, although many corporations have tried. Then they decide who to invite - who seems to be a "Bilderberg person". The notion of a Bilderberg person hasn't changed since the earliest days, back in 1954. The guests are expressly asked not to give interviews to journalists. There are two morning sessions and two afternoon sessions. While furiously denying that they secretly ruled the world, my Bilderberg interviewees did admit to me that international affairs had, from time to time, been influenced by these sessions. This is how Denis Healey described a Bilderberg person to me: "To say we were striving for a one-world government is exaggerated, but not wholly unfair. Bilderberg is a way of bringing together politicians, industrialists, financiers and journalists. Politics should involve people who aren't politicians."

Note: For lots more on the highly secretive Bilderberg meeting from two later BBC News article, click here. For many other revealing articles from major media reports on secret societies and secret meetings of the most rich and powerful people in our world, click here.

Medical groups assail patenting of human genes
2010-02-03, USA Today
http://www.usatoday.com/news/health/2010-02-03-Genesuit03_ST_N.htm

In a case that could have far-reaching implications for medical research and health care based on genetics, groups representing thousands of doctors, scientists and patients went to court ... to argue that no one should be able to patent human genes, a question that has long been controversial in scientific circles. The case involves a Utah company, Myriad Genetics, and the University of Utah Research Foundation, which in 1994 isolated the DNA sequence for the BRCA1 and later the BRCA2 genes, mutations of which can greatly increase a woman's chance of developing breast and ovarian cancer. Myriad sells a test for the genes. The American Civil Liberties Union and the Public Patent Foundation ... argued before federal district court Judge Robert Sweet that patents on genes are unconstitutional. The U.S. Patent Office allows genes to be patented as soon as someone isolates the DNA by removing it from the cell, says ACLU attorney Sandra Park. "We're arguing that isolating it does not make it patentable. It's a natural phenomenon, and the Supreme Court has always said natural phenomena are not patentable."

Note: For many key investigations from major media sources into corporate and governmental threats against civil liberties, click here.

Swine flu taskforce's links to vaccine giant: More than half the experts fighting the 'pandemic' have ties to drug firms
2010-01-14, Daily Mail (One of the UK's largest-circulation newspapers)
http://www.dailymail.co.uk/news/article-1243034/Swine-flu-taskforces-links-va...

More than half the scientists on the swine flu taskforce advising the [UK] Government have ties to drug companies. Eleven of the 20 members of the Scientific Advisory Group for Emergencies (SAGE) have done work for the pharmaceutical industry or are linked to it through their universities. Many have declared interests in GlaxoSmithKline, the vaccine maker expected to be the biggest beneficiary of the pandemic. The disclosure of the register of interests comes just days after a health expert branded the swine flu outbreak a 'false pandemic' driven by the drug companies which stood to profit. The Government is now trying to offload up to £1billion worth of unwanted swine flu vaccine. Last July, the Department of Health warned of up 65,000 deaths, with 350 a day at the pandemic's peak. But the death toll now stands at just 251. SAGE was created to give Ministers recommendations on how to control and treat the virus. Official documents show some members are linked to vaccine manufacturer Baxter and to Roche, which makes Tamiflu. GSK, Baxter and Roche stand to make up to £1.5billion between them from Government contracts related to swine flu.

Note: For lots more on the Swine Flu "false pandemic," click here.

Swine flu ‘false pandemic’ claim
2010-01-11, The Sun (One of the largest-circulation dailies in the UK)
http://www.thesun.co.uk/sol/homepage/news/2803049/Swine-flu-false-pandemic-cl...

A leading health expert says the swine flu scare was a "false pandemic" led by drugs companies that stood to make billions from vaccines. Wolfgang Wodarg, head of health at the Council of Europe, claims major [drug] firms organised a "campaign of panic" to put pressure on the World Health Organisation to declare a pandemic. He believes it is "one of the greatest medicine scandals of the century" — and has called for an inquiry. Dr Wodarg said: "It's just a normal kind of flu. It does not cause a tenth of deaths caused by the classic seasonal flu. The great campaign of panic we have seen provided a golden opportunity for representatives from labs who knew they would hit the jackpot in the case of a pandemic being declared. We want to clarify everything that brought about this massive operation of disinformation. We want to know who made decisions, on the basis of what evidence, and precisely how the influence of the pharmaceutical industry came to bear on the decision-making." He added: "A group of people in the WHO is associated very closely with the pharmaceutical industry."

Note: For powerfully revealing reports of the corruption regarding swine flu and previous health scares, click here.

Bankers Get $4 Trillion Gift From Barney Frank
2009-12-30, Bloomberg News
http://www.bloomberg.com/apps/news?pid=20601039&sid=a48c8UpUMxKQ

H.R. 4173 [is] the financial-reform legislation passed earlier this month by the House of Representatives. The Senate has yet to pass its own reform plan. The baby of Financial Services Committee Chairman Barney Frank, the House bill is meant to address everything from too-big-to-fail banks to asleep-at-the-switch credit-ratings companies to the protection of consumers from greedy lenders. At 1,279 pages, the “Wall Street Reform and Consumer Protection Act” is a real slog. While banks opposed the legislation, they should cheer for its passage by the full Congress in the New Year: There are huge giveaways insuring the government will again rescue banks and Wall Street if the need arises. For all its heft, the bill doesn’t once mention the words “too-big-to-fail,” the main issue confronting the financial system. Instead, it supports the biggest banks. It authorizes Federal Reserve banks to provide as much as $4 trillion in emergency funding the next time Wall Street crashes. So much for “no-more-bailouts” talk. The bill also allows the government, in a crisis, to back financial firms’ debts. Bondholders can sleep easy -- there are more bailouts to come.

Note: For a treasure trove of reliable reports on the government bailout of Wall Street, click here.

Generics chafe under big pharma's reform shadow
2009-12-26, CNN/Reuters News
http://money.cnn.com/news/newsfeeds/articles/reuters/MTFH92863_2009-12-24_22-...

The massive U.S. Senate healthcare reform measure passed ... with support from the multibillion drug industry, but makers of cheaper generic rivals are feeling left out in the cold. Generic drugmakers face several obstacles in the bill backed by Democrats that they worry will dampen a potential increase in use even as more people gain access to health insurance and prescription medicines. The hurdles include extensive protections against generic versions of pricey biotech medicines, an incentive for Medicare recipients to use more brand-name drugs, and a possible end to payments from brandname makers to delay the launch of copy-cat medicines. "The bill passed by the Senate unfortunately amounts to a treasure trove to brand drug companies," said Generic Pharmaceutical Association President Kathleen Jaeger. Bill Marth, chief executive of Teva's North American operations, said Democrats missed a chance to further boost [generics] use: "It's frustrating," he said. "Maybe some people have just lost sight of what the bill is supposed to do."

Note: For a powerful analysis by Dr. Marcia Angell, former editor in chief of the New England Journal of Medicine, of the corrupt relationship between the biggest pharmaceutical companies and the federal government, click here. Drug company lobbyists who contribute millions of dollars to the elections campaigns of Congress members have a huge influence which is often detrimental to public health.

Bill Moyers on Health Care Reform
2009-12-18, PBS
http://www.pbs.org/moyers/journal/12182009/watch.html

[Bill Moyers:] Something's not right here. One year after the great collapse of our financial system, Wall Street is back on top while our politicians dither. As for health care reform, you're about to be forced to buy insurance from companies whose stock is soaring, and that's just dandy with the White House. It's capital. Raw money, mounds of it, buying politicians and policy as if they were futures on the hog market. Some of the big insurance companies, Well Point, Cigna, United Health, all surged to a 52 week high in their share prices this week when it was clear there'd be no public option in the health care bill going through Congress right now. What does that tell you? ROBERT KUTTNER: Their strategy was cut a deal with the insurance companies, the drug industry going in. And the deal was, we're not going to attack your customer base, we're going to subsidize a new customer base. And that script was pre-cooked so it's not surprising that this is what comes out the other side. Once the White House made this deal with the insurance companies, the public option was never going to be anything more than a fig leaf. And over the summer and the fall, it got whittled down, whittled down, whittled down to almost nothing and now it's really nothing.

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

The Secret US War in Pakistan
2009-11-23, The Nation magazine
http://www.thenation.com/doc/20091207/scahill

At a covert forward operating base run by the US Joint Special Operations Command (JSOC) in the Pakistani port city of Karachi, members of an elite division of Blackwater are at the center of a secret program in which they plan targeted assassinations of suspected Taliban and Al Qaeda operatives, "snatch and grabs" of high-value targets and other sensitive action inside and outside Pakistan. The Blackwater operatives also assist in gathering intelligence and help direct a secret US military drone bombing campaign that runs parallel to the well-documented CIA predator strikes, according to a well-placed source within the US military intelligence apparatus. The previously unreported program, the military intelligence source said, is distinct from the CIA assassination program. "This is a parallel operation to the CIA," said the source. "They are two separate beasts." Blackwater's presence in Pakistan is "not really visible, and that's why nobody has cracked down on it," said the source. Blackwater's operations in Pakistan, he said, are not done through State Department contracts or publicly identified Defense contracts. "It's Blackwater via JSOC, and it's a classified no-bid [contract] approved on a rolling basis. Some of these strikes are attributed to [the CIA], but in reality it's JSOC. So when you see some of these hits, especially the ones with high civilian casualties, those are almost always JSOC strikes."

Note: Don't miss this key report in it's entirety. Why haven't other major media outlets mentioned the Joint Special Operations Command (JSOC) drone operations in Pakistan, running parallel to the CIA's?

Chemicals in Our Food, and Bodies
2009-11-08, New York Times
http://www.nytimes.com/2009/11/08/opinion/08kristof.html

Your body is probably home to a chemical called bisphenol A, or BPA. It’s a synthetic estrogen that United States factories now use in everything from plastics to epoxies — to the tune of six pounds per American per year. More than 92 percent of Americans have BPA in their urine, and scientists have linked it ... to everything from breast cancer to obesity, from attention deficit disorder to genital abnormalities in boys and girls alike. Now it turns out it’s in our food. Consumer Reports magazine tested an array of brand-name canned foods for a report in its December issue and found BPA in almost all of them. The magazine says that relatively high levels turned up, for example, in Progresso vegetable soup, Campbell’s condensed chicken noodle soup, and Del Monte Blue Lake cut green beans. The magazine also says it found BPA in the canned liquid version of Similac Advance infant formula ... and in canned Nestlé Juicy Juice. The BPA in the food probably came from an interior coating used in many cans. More than 200 other studies have shown links between low doses of BPA and adverse health effects, according to the Breast Cancer Fund, which is trying to ban the chemical from food and beverage containers. “The vast majority of independent scientists — those not working for industry — are concerned about early-life low-dose exposures to BPA,” said Janet Gray, a Vassar College professor who is science adviser to the Breast Cancer Fund.

Note: For more on BPA and other health issues, click here.

Outrage as Doctors' Group Allows Coca-Cola to Sponsor Health Advice
2009-11-05, Fox News/Associated Press
http://www.foxnews.com/story/0,2933,571930,00.html

Advice about soft drinks and health from one of the nation's largest doctors groups will soon be brought to you by Coke. The American Academy of Family Physicians has prompted outcry and lost members over its new six-figure alliance with the Coca-Cola Co. The deal will fund educational materials about soft drinks for the academy's consumer health and wellness Web site, www.FamilyDoctor.org. "Coca-Cola, like other sodas, causes enormous suffering and premature death by increasing the risks of obesity, diabetes, heart attacks, gout, and cavities," Harvard University nutrition expert Dr. Walter Willett said in an e-mail. He said the academy "should be a loud critic of these products and practices, but by signing with Coke their voice has almost surely been muzzled." Dr. Henry Blackburn, a University of Minnesota public health specialist, said the deal "will inevitably have a chilling effect on the focus of their message in regards to sweet drinks."

Note: For more on corruption in the medical/corporate complex, click here.

Novartis Expects Swine Flu Boost In Q4
2009-10-22, New York Times/Reuters
http://www.nytimes.com/reuters/2009/10/22/business/business-uk-novartis.html

Swiss drugmaker Novartis said sales would grow faster than expected this year, even without a shot in the arm of up to $700 million from its H1N1 swine flu pandemic vaccine. Third-quarter net profit at Novartis ... nudged up 1 percent to $2.1 billion. This year is turning out to be better than initially feared for Novartis and other major pharmaceutical companies, thanks to hefty price increases and windfall sales arising from the H1N1 outbreak. Both Pfizer, the world's biggest drugmaker, and Eli Lilly topped earnings forecasts this week. Roche reported a sharp jump in sales of its Tamiflu drug for flu last week and analysts expect GlaxoSmithKline's Relenza will also see strong sales in the third quarter. On the vaccine front, Glaxo, Sanofi-Aventis and AstraZeneca are all expected to highlight an expected jump in fourth-quarter sales due to swine flu. The H1N1 flu vaccine is expected to contribute about $400-700 million of sales in the fourth quarter.

Note: Donald Rumsfeld personally made millions as a direct result of the avian flu scare a few year ago. For more on this, click here. For more on pharmaceutical corporation profiteering from swine flu vaccines, click here.

U.S. aid often misses targets in Afghanistan
2009-10-04, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/10/04/MN8L19NHRM.DTL

When built in 2004, the agricultural storage facility in Nangarhar province was supposed to win the hearts and minds of the Afghan people. The U.S. government paid for its construction along with several other so-called "market centers" that would enable farmers to store crops and boost exports to nearby Pakistan. But construction and design flaws left it unusable, one of many dozens of similar failures in the country, critics say. Opponents say the Nangarhar project is just one example of massive waste of taxpayer dollars in aid programs since the U.S.-led invasion ousted the Taliban government in 2001. A Washington, D.C., company, Chemonics International, won the bid for [a] $145 million program - known as Rebuilding Agricultural Markets Program, or RAMP - that ran from 2003 to 2006. Chemonics then subcontracted the training and construction work to other Americans, who in turn subcontracted to numerous Afghan companies who did the work. At each level, the subcontractors deducted costs for salaries, office expenses and security. Only a small percentage of the original RAMP contract money actually reached farmers and other intended recipients. The exact percentage may never be known because neither Chemonics nor the U.S. government tracks such figures. Moreover, opponents note, many constructed market centers have deteriorated or are not being used for their original purpose. Afghanistan's foreign minister, Rangeen Dadfar Spanta, sharply criticized how U.S. aid is spent in his country. He estimates that only "$10 or $20" of every $100 reaches its intended recipients.

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

A ‘Little Judge’ Who Rejects Foreclosures, Brooklyn Style
2009-08-31, New York Times
http://www.nytimes.com/2009/08/31/nyregion/31judge.html

Every week, the nation’s mightiest banks come to his court seeking to take the homes of New Yorkers who cannot pay their mortgages. And nearly as often, the judge says, they file foreclosure papers speckled with errors. He plucks out one motion and leafs through: a Deutsche Bank representative signed an affidavit claiming to be the vice president of two different banks. His office was in Kansas City, Mo., but the signature was notarized in Texas. And the bank did not even own the mortgage when it began to foreclose on the homeowner. “I’m a little guy in Brooklyn who doesn’t belong to their country clubs, what can I tell you?” he says, adding a shrug for punctuation. “I won’t accept their comedy of errors.” The judge, Arthur M. Schack, 64, fashions himself a judicial Don Quixote, tilting at the phalanxes of bankers, foreclosure facilitators and lawyers who file motions by the bale. He has tossed out 46 of the 102 foreclosure motions that have come before him in the last two years. And his often scathing decisions, peppered with allusions to the Croesus-like wealth of bank presidents, have attracted the respectful attention of judges and lawyers from Florida to Ohio to California. At recent judicial conferences in Chicago and Arizona, several panelists praised his rulings as a possible national model. Justice Schack, like a handful of state and federal judges, has taken a magnifying glass to the mortgage industry. Justice Schack’s take is straightforward, and sends a tremor through some bank suites: If a bank cannot prove ownership, it cannot foreclose. “If you are going to take away someone’s house, everything should be legal and correct,” he said. “I’m a strange guy — I don’t want to put a family on the street unless it’s legitimate.”

Banks 'Too Big to Fail' Have Grown Even Bigger
2009-08-28, Washington Post
http://www.washingtonpost.com/wp-dyn/content/story/2009/08/28/ST2009082800437...

When the credit crisis struck last year, federal regulators pumped tens of billions of dollars into the nation's leading financial institutions because the banks were so big that officials feared their failure would ruin the entire financial system. Today, the biggest of those banks are even bigger. The crisis may be turning out very well for many of the behemoths that dominate U.S. finance. A series of federally arranged mergers safely landed troubled banks on the decks of more stable firms. And it allowed the survivors to emerge from the turmoil with strengthened market positions, giving them even greater control over consumer lending and more potential to profit. J.P. Morgan Chase ... now holds more than $1 of every $10 on deposit in this country. So does Bank of America, scarred by its acquisition of Merrill Lynch and partly government-owned as a result of the crisis, as does Wells Fargo, the biggest West Coast bank. Those three banks, plus government-rescued and -owned Citigroup, now issue one of every two mortgages and about two of every three credit cards, federal data show. Concerns are twofold: that consumers will wind up with fewer choices for services and that big banks will assume they always have the government's backing if things go wrong. That presumed guarantee means large companies could return to the risky behavior that led to the crisis if they figure federal officials will clean up their mess. The worry for consumers is that the bailouts skewed the financial industry in favor of the big and powerful. Fresh data from the FDIC show that big banks have the ability to borrow more cheaply than their peers because creditors assume these large companies are not at risk of failing.

Note: For lots more from reliable sources on the realities of the Wall Street bailout, click here.

Doctors may refuse swine flu vaccine
2009-08-24, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/society/2009/aug/24/doctors-refuse-swine-flu-vaccine

Many GPs, as well as their patients, may be reluctant to be immunised against swine flu once a vaccine is developed, surveys suggest today. A survey of GPs published on Healthcare Republic, the website of GP magazine, found that up to 60% of GPs may decline vaccination. Although the numbers who responded were small – 216 GPs – they are in line with a much bigger survey of nurses published a week ago by Nursing Times, which found that a third of 1,500 nurses would refuse vaccination. A Canadian study published today in the journal Emerging Health Threats suggests the public, too, will have reservations that must be overcome if a vaccination campaign is to be successful in the autumn or winter. The study, which used focus groups to establish the likely response of different people to a vaccine, pointed to the need to win over people who believe that alternative therapies and a good diet are a better option than vaccines. But the biggest problem in persuading people and healthcare professionals to have the jab may be the relative shortage of evidence from trials about its safety and efficacy. Because of the urgent need for a vaccine, testing will be limited. Among the GPs who responded to the survey published by Healthcare Republic, 29% said they would not choose to have the vaccine and 29% said they were unsure whether or not they would. The biggest reason given by those who said they would not have it was concern that the safety trials would not be adequate: 71.3% said they were "concerned that the vaccine has not yet been through sufficient trials to guarantee safety". Half – 50.4% – said they "believe that swine flu is too mild to justify taking the vaccine".

Note: Yet the Massachusetts Senate has now passed a bill which would impose fines up to $1,000 and jail up to 30 days for those who refuse vaccines or quarantine orders in a health emergency. Other states are considering similar legislation. For lots more on the real dangers of the swine flu vaccine, click here.

Oil lobby to fund campaign against Obama's climate change strategy
2009-08-14, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/environment/2009/aug/14/us-lobbying

The US oil and gas lobby are planning to stage public events to give the appearance of a groundswell of public opinion against legislation that is key to Barack Obama's climate change strategy. A key lobbying group will bankroll and organise 20 "energy citizen" rallies in 20 states. In an email obtained by Greenpeace, Jack Gerard, the president of the American Petroleum Institute (API), outlined what he called a "sensitive" plan to stage events during the August congressional recess to put a "human face" on opposition to climate and energy reform. "Our goal is to energise people and show them that they are not alone," said Cathy Landry, for API, who confirmed that the memo was authentic. The email from Gerard lays out ambitious plans to stage a series of lunchtime rallies to try to shape the climate bill that was passed by the house in June and will come before the Senate in September. "We must move aggressively," it reads.The API strategy also extends to a PR drive. Gerard cites polls to test the effectiveness of its arguments against climate change legislation. It offers up the "energy citizen" rallies as ready-made events, noting that allies – which include manufacturing and farm alliances as well as 400 oil and gas member organisations – will have to do little more than turn up. "API will provide the up-front resources," the email said. "This includes contracting with a highly experienced events management company that has produced successful rallies for presidential campaigns."

Note: For important reports from major media sources on global warming and oil company manipulation of public perception, click here.

With Big Profit, Goldman Sees Big Payday Ahead
2009-07-15, New York Times
http://www.nytimes.com/2009/07/15/business/15goldman.html?partner=rss&emc=rss...

After all that federal aid, a resurgent Goldman Sachs is on course to dole out bonuses that could rival the record paydays of the heady bull-market years. Goldman posted the richest quarterly profit in its 140-year history and, to the envy of its rivals, announced that it had earmarked $11.4 billion so far this year to compensate its workers. At that rate, Goldman employees could, on average, earn roughly $770,000 each this year — or nearly what they did at the height of the boom. Senior Goldman executives and bankers would be paid considerably more. Only three years ago, Goldman paid more than 50 employees above $20 million each. In 2007, its chief executive, Lloyd C. Blankfein, collected one of the biggest bonuses in corporate history. The latest headline results — $3.44 billion in profits — were powered by earnings from the bank’s secretive trading operations and exceeded even the most optimistic predictions. But Goldman’s sudden good fortune, coming only a month after the bank repaid billions of bailout dollars, raises questions for Washington policy makers. In Washington, some lawmakers warned on Tuesday that a quick return to such high pay would stoke public anger as the Obama administration tried to overhaul financial regulation. They warned that Wall Street lobbyists were already trying to block financial reforms. “People all over this country feel an incredible frustration that they are seeing their neighbors lose their jobs and the government is helping companies like A.I.G. and Goldman Sachs and then the next thing they are reporting huge profits and huge compensation,” said Senator Sherrod Brown, Democrat of Ohio and a member of the banking committee. “I think people are incredulous that this system is working this way.”

Note: For a treasure trove of revelations from reliable sources on the hidden realities behind the Wall Street bailout, click here.

Wendell Potter on Profits Before Patients
2009-07-10, PBS Bill Moyers Journal
http://www.pbs.org/moyers/journal/07102009/profile.html

Last month, testimony in front of the U.S. Senate Committee on Commerce, Science and Transportation by a former health insurance insider named Wendell Potter made news even before it occurred: CBS NEWS headlined: "Cigna Whistleblower to Testify." After Potter's testimony the industry scrambled to do damage control: "Insurers defend rescissions, take heat for lack of transparency." In his first extended television interview since leaving the health insurance industry, Wendell Potter tells Bill Moyers why he left his successful career as the head of Public Relations for CIGNA, one of the nation's largest insurers, and decided to speak out against the industry. Potter began his trip from health care spokesperson to reform advocate while back home in Tennessee. Potter attended a "health care expedition," a makeshift health clinic set up at a fairgrounds, and he tells Bill Moyers, "It was absolutely stunning. When I walked through the fairground gates, I saw hundreds of people lined up, in the rain. It was raining that day. Lined up, waiting to get care, in animal stalls. Animal stalls." Looking back over his long career, Potter sees an industry corrupted by Wall Street expectations and greed. According to Potter, insurers have every incentive to deny coverage — every dollar they don't pay out to a claim is a dollar they can add to their profits, and Wall Street investors demand they pay out less every year. Under these conditions, Potter says, "You don't think about individual people. You think about the numbers, and whether or not you're going to meet Wall Street's expectations."

Note: To educate yourself on this important issue, watch this revealing PBS Bill Moyers segment available here.

Life-threatening disease is the price we pay for cheap meat
2009-05-01, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/opinion/commentators/johann-hari/johann-hari-lif...

A swelling number of scientists believe swine flu has not happened by accident. No: they argue that [it] is the direct result of our demand for cheap meat. So is the way we produce our food really making us sick as a pig? The scientific evidence increasingly suggests that we have unwittingly invented an artificial way to accelerate the evolution of these deadly viruses – and pump them out across the world. They are called factory farms. They manufacture low-cost flesh, with a side-dish of viruses to go. In most swine farms today, 6,000 pigs are crammed snout-to-snout in tiny cages where they can barely move, and are fed for life on an artificial pulp, while living on top of cess-pools of their own stale faeces. The virus ... has a pool of thousands [of pigs], constantly infecting and reinfecting each other. The virus can combine and recombine again and again. The ammonium from the waste they live above burns the pigs' respiratory tracts, making it easier yet for viruses to enter them. Better still, the pigs' immune systems are in free-fall. They are stressed, depressed, and permanently in panic, making them far easier to infect. There is no fresh air or sunlight to bolster their natural powers of resistance. They live in air thick with viral loads, and they are exposed every time they breathe in. As Dr Michael Greger, director of Public Health and Animal Agriculture at the Humane Society of the United States, explains: "Put all this together, and you have a perfect storm environment for these super-strains. If you wanted to create global pandemics, you'd build as many of these factory farms as possible."

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

Companies look to Swine Flu to drive profits
2009-04-29, ABC News
http://abclocal.go.com/wjrt/story?section=news/national_world&id=6786340

Pharmaceutical stocks are skyrocketing on fears that a swine flu outbreak could go global. Manufacturers of antiviral drugs [and] companies gearing up to produce a vaccine ... are turning profits in an otherwise skittish and down market. Companies gearing up for swine flu, including Roche, Gilead Sciences and GlaxoSmithKline, the manufacturers of the leading antiviral flu medications, are best positioned to see a boost in profits if the disease escalates to epidemic proportions, analysts said. Tamiflu ... was developed by Gilead and manufactured by Roche. Both companies' share prices spiked soon after the U.S. government allowed for its stockpiles of the drug to be made publicly available. Gilead stock surged to $47.53 at the end of the day Monday, up 3.78 percent. Roche rose to $31.72, up 4.34 percent. The other major flu drug currently on the market is Relenza, also stockpiled and released by the government, and manufactured by GlaxoSmithKline. Shares of Glaxo closed surged Monday to $31.56, up 7.57 percent. Both Tamiflu and Relenza are stockpiled by governments and in the case of an outbreak the companies are often required to sell the drugs directly to the government at a discount. "Government stockpiling is viewed as boon for profits. Though the government gets a discount and the margins sold to the government are lower than those if they sold to Walgreens, from a stock perspective it's an unexpected positive surprise," he said.

Note: Pharmaceutical companies make big bucks from scares like the avian flu and swine flu. Yet are the recommended drugs really effective? Many studies say they are not. For analysis of profiteering by the pharmaceutical industry during a previous flu scare, click here. See this link for lots more.

Revelations of the wholesale greed and blatant transgressions of Wall Street
2009-04-03, PBS Bill Moyers Journal
http://www.pbs.org/moyers/journal/04032009/transcript1.html

BILL MOYERS: For months now, revelations of the wholesale greed and blatant transgressions of Wall Street have reminded us that "The Best Way to Rob a Bank Is to Own One." In fact, the man you're about to meet wrote a book with just that title. Bill Black, ... what's your definition of fraud? WILLIAM K. BLACK: Fraud is deceit. And the essence of fraud is, "I create trust in you, and then I betray that trust, and get you to give me something of value." And as a result, there's no more effective acid against trust than fraud, especially fraud by top elites, and that's what we have. Well, The way that you do it is to make really bad loans, because they pay better. Then you grow extremely rapidly, in other words, you're a Ponzi-like scheme. And the third thing you do is we call it leverage. That just means borrowing a lot of money, and the combination creates a situation where you have guaranteed record profits in the early years. That makes you rich, through the bonuses that modern executive compensation has produced. It also makes it inevitable that there's going to be a disaster down the road. BILL MOYERS: So you're ... saying that CEOs of some of these banks and mortgage firms in order to increase their own personal income, deliberately set out to make bad loans? WILLIAM K. BLACK: Yes. BILL MOYERS: If I wanted to go looking for the parties to this, with a good bird dog, where would you send me? WILLIAM K. BLACK: Well, that's exactly what hasn't happened. We haven't looked, all right? You'd look at the specialty lenders. The lenders that did almost all of their work in the sub-prime and what's called Alt-A, liars' loans.

Note: William K. Black is the former senior regulator who cracked down on banks during the savings and loan crisis of the 1980s. He is now an Associate Professor of Economics and Law at the University of Missouri. The video of this fascinating interview is available here. For a powerfully revealing archive of reports from reliable sources on the hidden realities of the financial bailout, click here.

Hidden Pension Fiasco May Foment Another $1 Trillion Bailout
2009-03-03, Bloomberg News
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=alwTE0Z5.1EA

Public pension funds across the U.S. are hiding the size of a crisis that’s been looming for years. Retirement plans play accounting games with numbers, giving the illusion that the funds are healthy. The paper alchemy gives governors and legislators the easy choice to contribute too little or nothing to the funds, year after year. The misleading numbers posted by retirement fund administrators help mask this reality: Public pensions in the U.S. had total liabilities of $2.9 trillion as of Dec. 16, according to the Center for Retirement Research at Boston College. Their total assets are about 30 percent less than that, at $2 trillion. With stock market losses this year, public pensions in the U.S. are now underfunded by more than $1 trillion. That lack of funds explains why dozens of retirement plans in the U.S. have issued more than $50 billion in pension obligation bonds during the past 25 years -- more than half of them since 1997 -- public records show. The quick fix for pension funds becomes a future albatross for taxpayers. The public gets nothing from pension bonds -- other than a chance to at least temporarily avoid paying for higher pension fund contributions. Pension bonds portend the possibility of steep tax increases. By law, states must guarantee public pension fund debts. “What appears to be a riskless strategy is actually very risky,” says David Zion, director of accounting research for New York-based Credit Suisse Holdings USA Inc. “If the returns on the pension bond-financed assets don’t exceed the cost of servicing the debt, the taxpayers bear the brunt.”

Note: The risks to pension funds may require yet another huge public bailout. Where will the money come from? For lots more on the realities of the Wall Street bailout, click here.

Stimulus Plan Places New Limits on Wall St. Bonuses
2009-02-14, New York Times
http://www.nytimes.com/2009/02/14/business/economy/14pay.html?partner=rss&emc...

Buried deep inside the ... economic stimulus bill ... is some bitter medicine for companies that have received financial bailout funds. Over staunch objections from the Obama administration, Senate Democrats inserted a provision that would impose restrictions on executive bonuses at financial institutions that are much tougher than those proposed 10 days ago by the Treasury Department. The provisions would prohibit cash bonuses and almost all other incentive compensation for the five most-senior officers and the 20 highest-paid executives at large companies that receive money under TARP. The restriction with the most bite would bar top executives from receiving bonuses that exceed one-third of their annual pay. The provision, written by Sen. Chris Dodd, D-Conn., highlighted the growing wrath ... over the lavish compensation that top Wall Street firms and big banks awarded to senior executives at the same time that many of the companies, teetering on the brink of insolvency, received taxpayer-paid bailouts. "The decisions of certain Wall Street executives to enrich themselves at the expense of taxpayers have seriously undermined public confidence," Dodd said Friday. "These tough new rules will help ensure that taxpayer dollars no longer effectively subsidize lavish Wall Street bonuses." Top economic advisers to President Obama adamantly opposed the pay restrictions, according to congressional officials.

Note: For powerfully revealing reports on the realities of the Wall Street bailout, click here.

Bad bank + toxic debts = moral hazard x10
2009-02-02, MarketWatch.com
http://www.marketwatch.com/news/story/Bad-bank-toxic-debt-one/story.aspx?guid...

BusinessWeek says Paulson/Bush & Co. wasted $350 billion in TARP money ... the Congressional Budget Office and GOP say Obama & Co. will waste another $800 billion on "non-stimulus" programs ... Nobel economist [Joseph Stiglitz] calls [the Bad Bank] plan "cash for trash" ... Warning, you are entering a bizarre space-time continuum ... where Wall Street makes random quantum leaps between metaphoric realities. In the "Lost" television series we're transported into a parallel reality, a perfect metaphor for today's global economic meltdown, which is misunderstood and grossly mismanaged. Wall Street crashed ... on the "Lost Island ... of Manhattan," the former center of world banking. The collateral damage has been enormous: Freddie Mac, Fannie Mae, Lehman Brothers, Bear Stearns, global trade, Iceland. [Wall Street's] clueless leaders ... are "Lost" with no bottom, no recovery, no strategy in sight. A new president, a secretive Fed and an old Congress are throwing around taxpayer trillions like free candy ... on top of Bush's "$10 Trillion Hangover" ...after a clueless Wall Street wrote off trillions in toxic debt, then wasted $350 billion in TARP bailout money, buying $50 million private jets, attending golf outings at exclusive resorts, spending millions on CEO's office renovations and paying $18 billion in year-end bonuses. Hope masks denial: Even President Obama's consultant [Warren] Buffett acknowledges that the proposed stimulus plan "might not work." The stimulus might not work? What if this last bullet is a blank? Should you prepare for the worst-case scenario?

Note: For many revealing reports on the realities of the Wall Street bailout, click here.

Exxon Mobil sets record with $45.2 billion profit
2009-01-30, Miami Herald/Associated Press
http://www.miamiherald.com/business/nation/story/879748.html

Exxon Mobil Corp. ... reported a profit of $45.2 billion for 2008, breaking its own record for a U.S. company. The previous record for annual profit was $40.6 billion, which the world's largest publicly traded oil company set in 2007. The extraordinary full-year profit wasn't a surprise given crude's triple-digit price for much of 2008, peaking near an unheard of $150 a barrel in July. Since then, however, prices have fallen roughly 70 percent amid a deepening global economic crisis. In the fourth quarter alone crude tumbled 60 percent, prompting spending and job cuts in an industry that was reporting robust, often record, profits as recently as last summer. Irving, Texas-based Exxon said net income slid sharply to $7.8 billion, or $1.55 a share, in the October-December period. That compared with $11.7 billion, or $2.13 a share, in the same period a year ago, when Exxon set a U.S. record for quarterly profit. It has since topped that mark twice, first in last year's second quarter and then with earnings of $14.83 billion in the third quarter. Revenue in the most-recent quarter fell 27 percent to $84.7 billion. The industry went into retrenchment toward the end of the year with demand falling. The company, which produces about 3 percent of the world's oil, said overall output fell 3 percent in the most-recent period. For the full year, Exxon Mobil's massive profit amounted to $8.69 a share, versus $7.28 a share a year ago.

Note: How can it be said that this record-breaking profit "wasn't a surprise," when ethically we would all expect the oil companies not to gouge consumers world-wide at the time when oil prices were artificially driven to record highs? Why should the oil companies be allowed to rake in huge profits causing the vast majority of us to suffer even greater losses at the gas pump? This is generally called gross profiteering. Shouldn't these "windfall profits" be taxed away?

What Red Ink? Wall Street Paid Hefty Bonuses
2009-01-29, New York Times
http://www.nytimes.com/2009/01/29/business/29bonus.html?partner=rss&emc=rss&p...

By almost any measure, 2008 was a complete disaster for Wall Street — except, that is, when the bonuses arrived. Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business, employees at financial companies in New York, the now-diminished world capital of capital, collected an estimated $18.4 billion in bonuses for the year. That was the sixth-largest haul on record, according to a report released Wednesday by the New York State comptroller. Some bankers took home millions last year even as their employers lost billions. The comptroller’s estimate, a closely watched guidepost of the annual December-January bonus season, is based largely on personal income tax collections. It excludes stock option awards that could push the figures even higher. The state comptroller, Thomas P. DiNapoli, said it was unclear if banks had used taxpayer money for the bonuses, a possibility that strikes corporate governance experts, and indeed many ordinary Americans, as outrageous. He urged the Obama administration to examine the issue closely. “The issue of transparency is a significant one, and there needs to be an accounting about whether there was any taxpayer money used to pay bonuses or to pay for corporate jets or dividends or anything else,” Mr. DiNapoli said in an interview.

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

U.S. moving toward czarism, away from democracy
2009-01-18, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/01/18/INGP158S4G.DTL

Every patriot should be concerned about the intensifying efforts to supplant democracy with something far more authoritarian. Call it American czarism. Czars - i.e., policymakers granted extralegal, cross-agency powers - have become increasingly prevalent in our government over the past century. Until now, this slow lurch toward czarism has primarily reflected the ancient, almost innate human desire for power and paternalistic leadership. In recent years, this culture of "presidentialism," as Vanderbilt Professor Dana Nelson calls it, has justified the Patriot Act, warrantless wiretaps and a radical theory of the "unitary executive" that aims to provide a jurisprudential rationale for total White House supremacy over all government. But only in the past three months has American czarism metastasized from a troubling slow-growth tumor to a potentially deadly cancer. In October, Congress relinquished its most basic oversight powers and gave Treasury Secretary Henry Paulson sole authority to dole out billions of bailout dollars to Wall Street. At the same time, it did nothing when Federal Reserve chairman Ben Bernanke used fiats to commit $5 trillion worth of new money, loan guarantees and loosened lending requirements ... all while he refused to tell the public who is receiving the largesse. Indeed, the Economist magazine's prediction that the "economic crisis may increase the attractiveness of the Chinese model of authoritarian capitalism" is coming true right here at home, as we seem ever more intent on replicating - rather than resisting - that model.

Note: For many revealing reports on the realities underlying the Wall Street bailout, click here.

Madoff's fund may not have made a single trade
2009-01-15, Reuters News
http://www.forbes.com/afxnewslimited/feeds/afx/2009/01/15/afx5928915.html

Bernie Madoff's investment fund may never have executed a single trade, industry officials say, suggesting detailed statements mailed to investors each month may have been an elaborate mirage in a $50 billion fraud. An industry-run regulator for brokerage firms said ... there was no record of Madoff's investment fund placing trades through his brokerage operation. That means Madoff either placed trades through other brokerage firms, a move industry officials consider unlikely, or he was not executing trades at all. 'Our exams showed no evidence of trading on behalf of the investment advisor, no evidence of any customer statements being generated by the broker-dealer,' said Herb Perone, spokesman for the Financial Industry Regulatory Authority. Each month, Madoff sent out elaborate statements of trades conducted by his broker-dealer. There also appear to be discrepancies between monthly statements sent to investors and the actual prices at which the stocks traded on Wall Street. To some, the numbers did not add up. About 10 years ago, Harry Markopolos, then chief investment officer at Rampart Investment Management Co in Boston, asked risk management consultant Daniel diBartolomeo to run Madoff's numbers after Markopolos tried to emulate Madoff's strategy. DiBartolomeo ran regression analyses and various calculations, but failed to reconcile them. For a decade, Markopolos raised the issue with the U.S. Securities and Exchange Commission, which has come under fire in Congress in recent weeks for failing to act on Markopolos's warnings.

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

Eight Years of Madoffs
2009-01-11, New York Times
http://www.nytimes.com/2009/01/11/opinion/11rich.html?partner=rss&emc=rss&pag...

Three days after the world learned that $50 billion may have disappeared in Bernie Madoff’s Ponzi scheme, The Times led its front page of Dec. 14 with the revelation of another $50 billion rip-off. This time the vanished loot belonged to American taxpayers. That was our collective contribution to the $117 billion spent (as of mid-2008) on Iraq reconstruction — a sinkhole of corruption, cronyism, incompetence and outright theft that epitomized Bush management at home and abroad. The source for this news was a near-final draft of an as-yet-unpublished 513-page federal history of this nation-building fiasco. The document was assembled by the Office of the Special Inspector General for Iraq Reconstruction — led by a Bush appointee, no less. It pinpoints, among other transgressions, a governmental Ponzi scheme concocted to bamboozle Americans into believing they were accruing steady dividends on their investment in a “new” Iraq. The $50 billion ... pales next to other sums that remain unaccounted for in the Bush era, from the $345 billion in lost tax revenue due to unpoliced offshore corporate tax havens to the far-from-transparent disposition of some $350 billion in Wall Street bailout money. In the old Pat Moynihan phrase, the Bush years have “defined deviancy down” in terms of how low a standard of ethical behavior we now tolerate as the norm from public officials.

Note: To read the draft of the Office of the Special Inspector General for Iraq Reconstruction's report, click here. To read the New York Times analysis of this important document, click here.

Credit-card industry may cut $2 trillion lines: analyst
2008-12-01, Reuters News
http://www.reuters.com/article/topNews/idUSTRE4B01HI20081201

The U.S. credit-card industry may pull back well over $2 trillion of lines over the next 18 months due to risk aversion and regulatory changes, leading to sharp declines in consumer spending, prominent banking analyst Meredith Whitney said. The credit card is the second key source of consumer liquidity, the first being jobs, the Oppenheimer & Co analyst noted. "In other words, we expect available consumer liquidity in the form of credit-card lines to decline by 45 percent." Closing millions of accounts, cutting credit lines and raising interest rates are just some of the moves credit card issuers are using to try to inoculate themselves from a tsunami of expected consumer defaults. A consolidated U.S. lending market that is pulling back on credit is also posing a risk to the overall consumer liquidity, Whitney said. Mortgages and credit cards are now dominated by five players who are all pulling back liquidity, making reductions in consumer liquidity seem unavoidable, she said. "We are now beginning to see evidence of broad-based declines in overall consumer liquidity. Already, we have witnessed the entire mortgage market hit a wall, and we believe it will, for the first time ever, show actual shrinkage over the next few months," she wrote. "In a country that offers hundreds of cereal and soda pop choices, the banking industry has become one that offers very few choices", Whitney wrote in a note dated November 30. "Pulling credit when job losses are increasing by over 50 percent year-over-year in most key states is a dangerous and unprecedented combination, in our view," the analyst said.

Note: This article, in pointing out that the banking industry offers few choices for consumers, fails to mention that the industry is rapidly becoming extremely concentrated, with major bank failures and takeovers accelerating due to the financial crisis on Wall Street. And the bailout from the Fed and Treasury has encouraged this concentration through huge tax breaks and risk protections. For many revealing reports on the Wall Street bailout from reliable sources, click here.

Economic rescue could cost $8.5 trillion
2008-11-30, Los Angeles Times
http://www.latimes.com/business/la-fi-pricetag30-2008nov30,0,7549258.story

With its decision last week to pump an additional $1 trillion into the financial crisis, the government eliminated any doubt that [it has] no hesitation in pledging to spend previously almost unimaginable sums of money and running up federal budget deficits on a scale not seen since World War II. Indeed, analysts warn that the nation's next financial crisis could come from the staggering cost of battling the current one. Just last week, new initiatives added $600 billion to lower mortgage rates, $200 billion to stimulate consumer loans and nearly $300 billion to steady Citigroup, the banking conglomerate. That pushed the potential long-term cost of the government's varied economic rescue initiatives, including direct loans and loan guarantees, to an estimated total of $8.5 trillion -- half of the entire economic output of the U.S. this year. The spending already has had a dramatic effect on the federal budget deficit, which soared to a record $455 billion last year and began the 2009 fiscal year with an amazing $237-billion deficit for October alone. Analysts say next year's budget deficit could easily bust the $1-trillion barrier. "I didn't think we'd see that for a long time," said Maya MacGuineas, president of the Committee for a Responsible Federal Budget. "There's a huge risk of another economic crisis, a debt crisis, once we get on the other side of this one." Once the financial crisis eases, higher interest rates and soaring inflation will be risks.

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

Citigroup gets a monetary lifeline from feds
2008-11-25, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/11/24/BUST14B71M.DTL

The bailouts keep coming, and they seem to be getting worse for taxpayers. The deal worked out over the weekend to prevent the collapse of Citigroup "is a terrible deal for taxpayers," says Campbell Harvey, a Duke University global finance professor. "Some intervention was necessary. But the terms of the intervention basically shafted the U.S. taxpayer." Under the deal, the U.S. government will invest $20 billion in Citigroup preferred stock (on top of its previous $25 billion capital injection from the Troubled Asset Relief Program) and guarantee up to $306 billion in mortgage and other assets. Citigroup would absorb the first $29 billion in losses on that asset pool. Losses exceeding $29 billion would be shared 90 percent by the government and 10 percent by Citigroup. What do taxpayers get for taking on this risk? Citigroup will pay an 8 percent dividend on the preferred stock or $560 million a year. By comparison, when Warren Buffett's Berkshire Hathaway recently invested $5 billion in Goldman Sachs and $3 billion in General Electric, it got preferred stock that pays a 10 percent dividend. The government also gets warrants to purchase about $2.7 billion worth of Citigroup common stock at $10.61 per share. Citigroup's shares closed at $5.95 per share Monday, up $2.18 from Friday. For the warrants to become profitable, the common shares would have to nearly double.

Note: The answer to the question of what taxpayers get should be essentially nothing. Only Citigroup shareholders will see the benefits mentioned, and very few taxpayers are shareholders. Money is being thrown around like never before. For many revealing reports on the realities of the Wall Street bailout, click here.

Financial Crisis Tab Already In The Trillions
2008-11-18, CNBC
http://www.cnbc.com/id/27719011

Given the speed at which the federal government is throwing money at the financial crisis, the average taxpayer, never mind member of Congress, might not be faulted for losing track. CNBC, however, has been paying very close attention and keeping a running tally of actual spending as well as the commitments involved. Try $4.28 trillion dollars. That's $4,284,500,000,000 and more than what was spent on WW II, if adjusted for inflation, based on our computations from a variety of estimates and sources. Not only is it an astronomical amount of money, it's a complicated cocktail of budgeted dollars, actual spending, guarantees, loans, swaps and other market mechanisms by the Federal Reserve, the Treasury and other offices of government taken over roughly the last year, based on government data and news releases. Strictly speaking, not every cent is a direct result of what's called the financial crisis, but it is arguably related to it. Some 68-percent of the sum falls under the Federal Reserve's umbrella, while another 16 percent is the under the Troubled Asset Relief Program, TARP, as defined under the Emergency Economic Stabilization Act, signed into law in early October. The TARP alone is bigger than virtually any other US government endeavor dating back to the Louisiana Purchase.

Note: That's over $10,000 per man, woman, and child in the U.S. Click on the link above to view a highly informative slideshow, the "Biggest Budget Items in US History," comparing the Wall Street bailout to famous historic government expenditures, and a chart, the "Financial Crisis Balance Sheet," detailing the many components of the bailout. For many key articles revealing the hidden realities of the bailout, click here.

Europe's secret plan to boost GM crop production
2008-10-26, The Independent (One of the U.K.'s leading newspapers)
http://www.independent.co.uk/environment/green-living/europes-secret-plan-to-...

Gordon Brown and other European leaders are secretly preparing an unprecedented campaign to spread GM crops and foods in Britain and throughout the continent, confidential documents obtained by The Independent on Sunday reveal. The documents –- minutes of a series of private meetings of representatives of 27 governments –- disclose plans to "speed up" the introduction of the modified crops and foods and to "deal with" public resistance to them. The secret meetings were convened by Jose Manuel Barroso, the pro-GM President of the Commission, and chaired by his head of cabinet, Joao Vale de Almeida. The prime ministers of each of the EU's 27 member states were asked to nominate a special representative. Neither the membership of the group, nor its objectives, nor the outcomes of its meetings have been made public. But The IoS has obtained confidential documents, including an attendance list and the conclusions of the two meetings held so far – on 17 July and just two weeks ago on 10 October – written by the chairman. The list shows that President Nicolas Sarkozy of France and Chancellor Angela Merkel of Germany sent close aides. Britain was represented by Sonia Phippard, director for food and farming at the Department of Environment, Food and Rural Affairs. The conclusions reveal the discussions were mainly preoccupied with how to speed up the introduction of GM crops and food and how to persuade the public to accept them. The documents also make clear that Mr Barroso is going beyond mere exhortation by trying to get prime ministers to overrule their own agriculture and environment ministers in favour of GM.

Note: For an excellent summary of the many health risks posed by genetically modified foods, click here.

No curbs on Wall Street pay despite meltdown
2008-10-24, San Francisco Chronicle/Associated Press
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/10/24/national/a143651D...

Despite the Wall Street meltdown, the nation's biggest banks are preparing to pay their workers as much as last year or more, including bonuses tied to personal and company performance. So far this year, nine of the largest U.S. banks, including some that have cut thousands of jobs, have seen total costs for salaries, benefits and bonuses grow by an average of 3 percent from a year ago, according to an Associated Press review. "Taxpayers have lost their life savings, and now they are being asked to bail out corporations," New York Attorney General Andrew Cuomo said of the AP findings. "It's adding insult to injury to continue to pay outsized bonuses and exorbitant compensation." That there is a rise in pay, or at least not a pronounced dropoff, from 2007 is surprising because many of the same companies were doing some of their best business ever, at least in the first half of last year. In 2008, each quarter has been weaker than the last. "There are, of course, expectations that the payouts should be going down," David Schmidt, a senior compensation consultant at James F. Reda & Associates. "But we haven't seen that show up yet." Some banks are setting aside large amounts. At Citigroup, which has cut 23,000 jobs this year amid the crisis, pay expenses for the first nine months of this year came to $25.9 billion, 4 percent more than the same period last year. Typically, about 60 percent of Wall Street pay goes to salary and benefits, while about 40 percent goes to end-of-the-year cash and stock bonuses that hinge on performance, both for the individual and the company.

Note: For lots more on the Wall Street bailout, click here.

Insider’s Projects Drained Missile-Defense Millions
2008-10-12, New York Times
http://www.nytimes.com/2008/10/12/washington/12missile.html?partner=rssuserla...

Michael Cantrell, an engineer at the Army Space and Missile Defense Command headquarters in Huntsville, Ala., along with his deputy, Doug Ennis, had lined up millions of dollars from Congress for defense companies. Mr. Cantrell decided it was time to take a cut. Within months, [he] began getting personal checks from contractors and later [picked] up a briefcase stuffed with $75,000. The two men eventually collected more than $1.6 million in kickbacks, through 2007, [causing] them to plead guilty this year to corruption charges. But what has drawn little scrutiny are [Cantrell's] activities leading up to it. Thanks to important allies in Congress, he extracted nearly $350 million for projects the Pentagon did not want, wasting taxpayer money on what would become dead-end ventures. He often bypassed his bosses and broke department rules to make his case on Capitol Hill. He enlisted contractors to pitch projects that would keep the dollars flowing and paid lobbyists to ease them through. He cultivated lawmakers, who were eager to send money back home or to favored contractors and did not ask many questions. And when he ran into trouble, he could count on his powerful friends for protection from Pentagon officials who provided little oversight and were afraid of alienating lawmakers. “I could go over to the Hill and put pressure on people above me and get something done,” Mr. Cantrell explained. “With the Army, as long as the senator is not calling over and complaining, everything is O.K. And the senator will not call over and complain unless the contractor you’re working with does not get his money. So you just have to keep the players happy and it works.”

Note: For key reports on government corruption from reliable sources, click here.

Outrage Leads AIG To Cancel Second Luxury Retreat
2008-10-09, ABC News
http://www.abcnews.go.com/Blotter/story?id=5994567

Battered by outrage over the $440,000 it spent on a luxury retreat less than a week after the federal government loaned it $85 billion dollars, the giant AIG Insurance Company says it has called off plans to hold a second retreat next week at the exclusive Ritz-Carlton Resort in Half Moon Bay, California. The Ritz-Carlton outing, like the earlier one, was to reward top independent insurance agents, which the company called a "standard industry practice." "I am somewhat relieved to hear that AIG has canceled their Ritz-Carlton conference, which was nothing less than a slap in the face of the American people," said Rep. Elijah Cummings (D-MD). "I cannot fathom how in the same day -- the very same day -- that AIG asked the government for another $37.8 billion loan, the company would even consider moving forward with plans to host another large conference at another luxury resort." Critics ... have denounced AIG for holding an expensive retreat at a time of economic crisis. The criticism has been "demoralizing" within AIG said Nicholas Ashooh, a spokesperson for AIG, "but we have to recognize that we're in a different environment and we have to adjust to that." AIG says it has instructed its worldwide managers to re-scrutinize how money is being spent. "We're certainly reviewing all our expenditures in light of financial circumstances and the fact that taxpayer dollars are helping to support AIG as we get through this difficult credit crisis," said Ashooh.

Note: For many reports of corporate corruption from reliable sources, click here.

After Bailout, AIG Execs Head to California Resort
2008-10-07, ABC News
http://abcnews.go.com/Blotter/story?id=5973452&page=1

Less than a week after the federal government committed $85 billion to bail out AIG, executives of the giant AIG insurance company headed for a week-long retreat at a luxury resort and spa, the St. Regis Resort in Monarch Beach, California, Congressional investigators revealed today. "Rooms at this resort can cost over $1,000 a night," Congressman Henry Waxman (D-CA) said. AIG documents obtained by Waxman's investigators show the company paid more than $440,000 for the retreat, including nearly $200,000 for rooms, $150,000 for meals and $23,000 in spa charges. "They're getting their pedicures and their manicures and the American people are paying for that," said Cong. Elijah Cummings (D-MD). Appearing before the committee, Martin Sullivan, the AIG CEO until June, said the company was overwhelmed by a "financial global tsunami," and that "no simple or single cause" was to blame. "I am heartbroken at what has happened," Sullivan said. Robert Willumstad, the CEO from June to September, 2008, maintained AIG was a victim of a "crisis in confidence" and an "unprecedented global catastrophe." But Congressional investigators raised questions of "mismanagement" and whether AIG executives sought to "cook the books" and hide negative information from outside auditors. Waxman also said there is evidence the two men changed the bonus schedule once the company began to post losses, so that executives under the "Senior Partners Plan" would continue to make multi-million dollar salaries. Sullivan was given a $15 million "golden parachute" payment after being replaced as CEO in June.

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

BBC uncovers lost Iraq billions
2008-06-10, BBC News
http://news.bbc.co.uk/2/hi/middle_east/7444083.stm

A BBC investigation estimates that around $23bn (£11.75bn) may have been lost, stolen or just not properly accounted for in Iraq. The BBC's Panorama programme has used US and Iraqi government sources to research how much some private contractors have profited from the conflict and rebuilding. A US gagging order is preventing discussion of the allegations. The order applies to 70 court cases against some of the top US companies. While President George W Bush remains in the White House, it is unlikely the gagging orders will be lifted. To date, no major US contractor faces trial for fraud or mismanagement in Iraq. Henry Waxman, who chairs the House committee on oversight and government reform, said: "It may well turn out to be the largest war profiteering in history." In the run-up to the invasion, one of the most senior officials in charge of procurement in the Pentagon objected to a contract potentially worth $7bn that was given to Halliburton, a Texan company which used to be run by Dick Cheney before he became vice-president. Only Halliburton got to bid. The search for the missing billions also led ... to a house in ... west London where Hazem Shalaan lived until he was appointed to the new Iraqi government as minister of defence in 2004. He and his associates siphoned an estimated $1.2bn out of the ministry. They bought old military equipment from Poland but claimed for top-class weapons. Meanwhile they diverted money into their own accounts. Judge Radhi al-Radhi of Iraq's Commission for Public Integrity investigated. He said: "I believe these people are criminals."

Note: For many other reports on war profiteering, click here.

U.S. using food crisis to boost bio-engineered crops
2008-05-14, Chicago Tribune
http://www.chicagotribune.com/news/nationworld/chi-food-crops_14may14,0,72299...

The Bush administration has slipped a controversial ingredient into the $770 million aid package it recently proposed to ease the world food crisis, adding language that would promote the use of genetically modified crops in food-deprived countries. The value of genetically modified, or bio-engineered, food is an intensely disputed issue in the U.S. and in Europe, where many countries have banned foods made from genetically modified organisms, or GMOs. Opponents of GMO crops say they can cause unforeseen medical problems. They also contend that the administration's plan is aimed at helping American agribusinesses. "This is a hot topic now with the food crisis," said Ronnie Cummins, national director of the Organic Consumers Association. "I think it's pretty obvious at this point that genetically engineered crops ... don't increase yields. There are no commercialized crops that are designed to deal with the climate crisis." Noah Zerbe, an assistant professor of government and politics at Humboldt State University in California, said that GMO crops might not be appropriate for developing countries. "You get fantastic yields if you're able to apply fertilizer and water at the right times, and herbicides to go along with that," Zerbe said. "Unfortunately, most African farmers ... can't afford these inputs." The U.S. tried to introduce GMO crops to Africa in 2002, with mixed results. European Union opposition was part of the reason that several African nations that year balked at an offer of U.S. aid that included corn, some of which was genetically modified. [Despite] a severe drought, Zambia rejected the U.S. aid altogether.

Note: For an eye-opening overview of the risks of genetically modified foods, click here.

Safe websites let you embarrass people in high places
2008-05-08, New Scientist magazine
http://www.newscientist.com/article/mg19826555.400-safe-websites-let-you-emba...

Just how accurate are GPS-guided precision bombs, and what is most likely to send them off-target? Now you can find out by simply reading the smart bomb’s tactical manual on the internet. No, the Pentagon didn’t slip up and post the instructions online. Rather, a whistle-blower leaked the manual via Wikileaks, a website that uses anonymising technology to disguise the source of leaked information. Launched online in early 2007, Wikileaks is run by an informal group of open government and anti-secrecy advocates who want to allow people living under oppressive regimes, or with something to say in the public interest, to anonymously leak documents that have been censored or are of ethical, political or diplomatic significance. Thanks to Wikileaks, potential whistle-blowers are now far more willing to come forward, says John Young, who runs the long-standing site Cryptome.org, which specialises in posting documents on espionage, intelligence and cryptography issues. “We started getting a lot less information after 9/11 as people became more cautious when law enforcement agencies got more draconian powers. So we are very happy to see Wikileaks doing what they are doing so aggressively.” This flood of leaked documents has been made possible by internet technology that allows whistle-blowers to post documents online without revealing their identity or IP address.

Note: To read the full article for free, click here.

Multinationals make billions in profit out of growing global food crisis
2008-05-04, The Independent (One of the U.K.'s leading newspapers)
http://www.independent.co.uk/environment/green-living/multinationals-make-bil...

Giant agribusinesses are enjoying soaring earnings and profits out of the world food crisis which is driving millions of people towards starvation. And speculation is helping to drive the prices of basic foodstuffs out of the reach of the hungry. The prices of wheat, corn and rice have soared over the past year driving the world's poor – who already spend about 80 per cent of their income on food – into hunger and destitution. The World Bank says that 100 million more people are facing severe hunger. Yet some of the world's richest food companies are making record profits. Monsanto last month reported that its net income for the three months up to the end of February this year had more than doubled over the same period in 2007, from $543m (£275m) to $1.12bn. Its profits increased from $1.44bn to $2.22bn. Cargill's net earnings soared by 86 per cent from $553m to $1.030bn over the same three months. And Archer Daniels Midland, one of the world's largest agricultural processors of soy, corn and wheat, increased its net earnings by 42 per cent in the first three months of this year from $363m to $517m. The operating profit of its grains merchandising and handling operations jumped 16-fold from $21m to $341m. Similarly, the Mosaic Company, one of the world's largest fertiliser companies, saw its income for the three months ending 29 February rise more than 12-fold, from $42.2m to $520.8m, on the back of a shortage of fertiliser. Benedict Southworth, director of the World Development Movement, called the escalating earnings and profits "immoral."

Note: For a cornucopia of reports on corporate corruption from reliable, verifiable sources, click here.

Judge orders stun gun references removed from autopsies
2008-05-03, Associated Press
http://www.ktar.com/?nid=6&sid=826236

A medical examiner must change her autopsy findings to delete any reference that stun guns contributed to the deaths of three people involved in confrontations with law enforcement officers, a judge ruled. [The] decision was a victory for Taser International Inc., which had challenged rulings by Summit County Medical Examiner Lisa Kohler, including a case in which five sheriff's deputies are charged in the death a jail inmate who was restrained by the wrists and ankles and hit with pepper spray and a stun gun. Kohler ruled that the 2006 death of Mark McCullaugh Jr., 28, was a homicide and that he died from asphyxiation due to the "combined effects of chemical, mechanical and electrical restraint." Visiting Judge Ted Schneiderman said in his ruling that there was no expert evidence to indicate that Taser devices impaired McCullaugh's respiration. "More likely, the death was due to a fatal cardiac arrhythmia brought on by severe heart disease," the judge wrote. Schneiderman ordered Kohler to rule McCullaugh's death undetermined and to delete any references to homicide. The judge also said references to stun guns contributing to the deaths of two other men must be deleted from autopsy findings. Steve Tuttle, vice president of communications for Taser International, said the Scottsdale, Ariz.-based company is pleased with Schneiderman's ruling. John Manley, a Summit County prosecutor who represented Kohler, said the judge's order went too far. The county is considering an appeal, he said. "Taser is quite a force to be reckoned with and does everything to protect their golden egg, which is the Model X26," Manley said.

Note: This AP article was not picked up by any major or even local media other than this Phoenix, AZ talk radio station. Considering the lack of reporting on Taser International's stunning 69 victories before its first loss in the courts, do you think there might be some bias in the news coverage?

Behind TV Analysts, Pentagon’s Hidden Hand
2008-04-20, New York Times
http://www.nytimes.com/2008/04/20/washington/20generals.html?ex=1366344000&en...

In the summer of 2005, the Bush administration confronted a fresh wave of criticism over Guantánamo Bay. The detention center had just been branded “the gulag of our times” by Amnesty International, there were new allegations of abuse from United Nations human rights experts and calls were mounting for its closure. The administration’s communications experts responded swiftly. Early one Friday morning, they put a group of retired military officers on one of the jets normally used by Vice President Dick Cheney and flew them to Cuba for a carefully orchestrated tour of Guantánamo. To the public, these men are members of a familiar fraternity, presented tens of thousands of times on television and radio as “military analysts” whose long service has equipped them to give authoritative and unfettered judgments about the most pressing issues of the post-Sept. 11 world. Hidden behind that appearance of objectivity, though, is a Pentagon information apparatus that has used those analysts in a campaign to generate favorable news coverage of the administration’s wartime performance. The effort, which began with the buildup to the Iraq war and continues to this day, has sought to exploit ideological and military allegiances, and also a powerful financial dynamic: Most of the analysts have ties to military contractors vested in the very war policies they are asked to assess on air. Those business relationships are hardly ever disclosed to the viewers. But collectively, the men on the plane and several dozen other military analysts represent more than 150 military contractors either as lobbyists, senior executives, board members or consultants.

Note: This excellent article should be read in its entirety. For a related video presentation, click here. For an analysis, click here.

JPMorgan memo shows dirty tricks of mortgage trade
2008-03-28, Reuters News
http://www.reuters.com/article/vcCandidateFeed1/idUSN2838474720080328

An internal JPMorgan Chase memo entitled "Zippy Cheats & Tricks" offers a peek into just the sort of dubious lending tactics that underpinned the U.S. housing market's deepening downward spiral. The memo outlines step-by-step instructions on how to beef up mortgage applicants' stated incomes in order to help them qualify for home loans. They read as follows: "1. Make sure you input all income in base income. DO NOT break it down by overtime, commissions or bonus. 2. If your borrower is getting a gift, add it to a bank account along with the rest of the assets. Be sure to remove any mention of gift funds. 3. If you do not get (the desired results), try resubmitting with slightly higher income. Inch it up $500 to see if you can get the findings you want. Do the same for assets." In the context of a broader housing debacle, the memo [provides] some clues into just what lengths bankers went to [to] push loans through the system. Over the past six months, rising defaults on home loans have not only battered the mortgage sector, threatening recession, but also sent the banking industry into a tailspin. Many large banks repackaged mortgages and held them on their balance sheets as complex derivatives securities, essentially bonds backed by other types of loans. The conclusion of the JPMorgan memo, written in bright purple letters, certainly hints at a credit system gone awry: "It's super easy! Give it a try!" it reads. "If you get stuck, call me ... I am happy to help!"

Note: Though this highly revealing news was reported by the venerable Reuters news agency, why did no major media pick it up? For numerous reports of financial corruption from verifiable sources, click here.

Top Iraq contractor skirts US taxes offshore
2008-03-06, Boston Globe
http://www.boston.com/news/world/articles/2008/03/06/top_iraq_contractor_skir...

Kellogg Brown & Root, the nation's top Iraq war contractor and until last year a subsidiary of Halliburton Corp., has avoided paying hundreds of millions of dollars in federal Medicare and Social Security taxes by hiring workers through shell companies based in [the Cayman Islands]. More than 21,000 people working for KBR in Iraq - including about 10,500 Americans - are listed as employees of two companies that exist in a computer file on the fourth floor of a building on a palm-studded boulevard here in the Caribbean. Neither company has an office or phone number in the Cayman Islands. The Defense Department has known since at least 2004 that KBR was avoiding taxes by declaring its American workers as employees of Cayman Islands shell companies. With an estimated $16 billion in contracts, KBR is by far the largest contractor in Iraq, with eight times the work of its nearest competitor. The no-bid contract it received in 2002 to rebuild Iraq's oil infrastructure and a multibillion-dollar contract to provide support services to troops have long drawn scrutiny because Vice President Dick Cheney was Halliburton's chief executive from 1995 until he joined the Republican ticket with President Bush in 2000. The largest of the Cayman Islands shell companies - called Service Employers International Inc., which is now listed as having more than 20,000 workers in Iraq, according to KBR - was created two years before Cheney became Halliburton's chief executive. But a second Cayman Islands company called Overseas Administrative Services, which now is listed as the employer of 1,020 mostly managerial workers in Iraq, was established two months after Cheney's appointment.

Note: To read a powerful personal statement about the reality of war profiteering by a highly decorated Marine Corps general, click here.

U.S. expanding the law - domestic and foreign - to benefit corporations
2008-02-17, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/02/17/EDR1V0LCD.DTL

As a U.S. taxpayer, you may be contributing to fewer cheap drugs on international shelves. Public dollars support the Office of the U.S. Trade Representative, the trade agency with authority to pressure foreign governments to change their domestic intellectual property laws. As such, the agency actively presses for laws that would keep generic drugs out of markets worldwide. Congress is considering legislation to create a separate executive branch office dedicated to using government resources for lobbying other countries to change their laws, sometimes exclusively to benefit certain U.S. companies. That's a bad idea for patients here and abroad, because it would give the U.S. government more power in an area where it should instead have less. The trade agency's interpretation of what other countries' domestic laws need to cover expands beyond the broadest definitions within U.S. law. To give one example, data gathered during clinical trials of new drugs are not protected by copyright, patent or trademark in the United States. The Food and Drug Administration restricts use of test results finding that a brand-name drug is safe when considering the safety of identical generic drugs. The trade representative is using its authority to press for comparable rules restricting the approval process for generic drugs in other countries. It doesn't take much sleuthing to follow the money back to the U.S. pharmaceutical manufacturers on the trade agency's advisory panel, who can maintain monopolist profits while a generic drug is blocked from the market in Guatemala, Malaysia or any of the dozen other countries that the trade agency is pressuring to adopt U.S.-style restrictions on generic drug approval.

Note: For more reports on the power of the pharmaceutical industry to influence government policy, click here.

Fraud Crackdown Comes With a Loophole
2008-02-13, ABC News/Associated Press
http://abcnews.go.com/Politics/wireStory?id=4279612

A Bush administration plan to crack down on contract fraud has a multibillion-dollar loophole: The proposal to force companies to report abuse of taxpayer money will not apply to work overseas, including projects to secure and rebuild Iraq and Afghanistan. For decades, contractors have been asked to report internal fraud or overpayment on government-funded projects. Compliance has been voluntary, and over the past 15 years the number of company-reported fraud cases has declined steadily. Now, the Justice Department wants to force companies to notify the government if they find evidence of contract abuse of more than $5 million. Failure to comply could make a company ineligible for future government work. The proposal, now in the final approval stages, specifically exempts "contracts to be performed outside the United States," according to a notice published last month in the Federal Register. Critics including the watchdog group Taxpayers Against Fraud said the overseas exemption raises suspicions. "I hate to sound cynical, but what lobbyist working for a contractor in Iraq wanted this get-out-of-jail card?" asked Patrick Burns, spokesman for the government watchdog group. "I'm not saying that's the way it went - I'm just suggesting that's the most logical line to draw. I think somebody's got some explaining to do." After the invasions of Afghanistan and Iraq, the U.S. poured billions of dollars into projects [in] those nations. With the money came the fraud. At least $14 million has been lost in bribes alone over the past five years in Iraq and Afghanistan. An estimated $350 billion is spent on government contracts annually, according to the White House Office of Federal Procurement Policy.

Note: For many additional reports from reliable sources on war profiteering, click here.

Exxon Mobil Makes Monster Profit
2008-02-01, CBS News
http://www.cbsnews.com/stories/2008/02/01/business/main3777996.shtml

Exxon Mobil Corp. [has] posted the largest annual profit [ever] by a U.S. company - $40.6 billion. Exxon Mobil also set a U.S. record for the biggest quarterly profit, posting net income of $11.7 billion for the final three months of 2007, besting its own mark of $10.71 billion in the fourth quarter of 2005. The previous record for annual profit was $39.5 billion, which Exxon Mobil reported for 2006. The eye-popping results weren't a surprise given record prices for a barrel of oil at the end of 2007. For much of the fourth quarter, they hovered around $90 a barrel, more than 50 percent higher than a year ago. Crude prices reached an all-time trading high of $100.09 on Jan. 3 but have fallen about 10 percent since. Also extraordinary was Exxon Mobil's revenue, which rose 30 percent in the fourth quarter to $116.6 billion from $90 billion a year ago. For the year, sales rose to $404.5 billion - the most ever for the Irving, Texas-based company - from the $377.64 billion it posted in 2006. Exxon Mobil produces about 3 percent of the world's oil.

Note: How strange that they don't even mention that high pump prices is what fed these huge profits? If they are making such "monster" profits, why do they make the public pay such high gasoline prices?

Wall Street paying record bonuses
2008-01-08, New York Daily News/Bloomberg News
http://www.nydailynews.com/money/2008/01/18/2008-01-18_wall_street_paying_rec...

Wall Street's five biggest firms are paying a record $39 billion in bonuses for 2007. It was a year when three of the firms suffered their worst quarterly losses in history and shareholders lost over $80 billion. Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers and Bear Stearns together awarded $65.6 billion in compensation and benefits last year to their 186,000 employees. That means year-end bonuses, at 60% of the total, exceeded the $36 billion distributed in 2006 when the industry reported all-time high profits. The firms have said they are eliminating at least 6,200 jobs amid mounting losses from the subprime mortgage mess. The payouts come as the economy slows, with unemployment rising, retail sales declining and new home foreclosures surging to a record. The industry's bonuses are larger than the gross domestic products of Sri Lanka, Lebanon or Bulgaria, and the average bonus of $219,198 is more than four times higher than the median U.S. household income in 2006, according to Census Bureau data. Shareholders in the securities industry endured their worst year since 2002, as Merrill and Bear Stearns slumped more than 40% and the CEOs at both firms gave up their jobs. Morgan Stanley fell 21% and Lehman dropped 16%. Only Goldman rose, gaining 7.9%.

Note: For lots more on escalating income inequality, click here.

Blackwater's Owner Has Spies for Hire
2007-11-03, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2007/11/02/AR20071102021...

The Prince Group, the holding company that owns Blackwater Worldwide, has been building an operation that will [develop] intelligence ... for clients in industry and government. The operation, Total Intelligence Solutions, has assembled a roster of former ... high-ranking figures from agencies such as the CIA and defense intelligence. Its chairman is Cofer Black, the former head of counterterrorism at CIA known for his leading role in many of the agency's more controversial programs, including the rendition and interrogation of ... suspects and the detention of some of them in secret prisons overseas. Its chief executive is Robert Richer, a former CIA associate deputy director of operations who was heavily involved in running the agency's role in the Iraq war. Because of its roster and its ties to owner Erik Prince, the multimillionaire former Navy SEAL, the company's thrust into this world highlights the blurring of lines between government, industry and activities formerly reserved for agents operating in the shadows. Richer, for instance, once served as the chief of the CIA's Near East division and is said to have ties to King Abdullah of Jordan. The CIA had spent millions helping train Jordan's intelligence service in exchange for information. Now Jordan has hired Blackwater to train its special forces. "Cofer can open doors," said Richer, who served 22 years at the CIA. "I can open doors. We can generally get in to see who we need to see. We ... can deal with the right minister or person." "They have the skills and background to do anything anyone wants," said RJ Hillhouse, who writes a national security blog called The Spy Who Billed Me. "There's no oversight. They're an independent company offering freelance espionage services. They're rent-a-spies."

Report Says Firm Sought to Cover Up Iraq Shootings
2007-10-02, New York Times
http://www.nytimes.com/2007/10/02/washington/02blackwater.html?ex=1348977600&...

Employees of Blackwater USA have engaged in nearly 200 shootings in Iraq since 2005, in [the] vast majority of cases firing their weapons from moving vehicles without stopping to count the dead or assist the wounded, according to a new report from Congress. In at least two cases, Blackwater paid victims’ family members who complained, and sought to cover up other episodes, the Congressional report said. It said State Department officials approved the payments in the hope of keeping the shootings quiet. In one case last year, the department helped Blackwater spirit an employee out of Iraq less than 36 hours after the employee, while drunk, killed a bodyguard for one of Iraq’s two vice presidents on Christmas Eve. The report ... adds weight to complaints from Iraqi officials, American military officers and Blackwater’s competitors that company guards have taken an aggressive, trigger-happy approach to their work and have repeatedly acted with reckless disregard for Iraqi life. But the report is also harshly critical of the State Department for exercising virtually no restraint or supervision of the private security company’s 861 employees in Iraq. “There is no evidence in the documents that the committee has reviewed that the State Department sought to restrain Blackwater’s actions, raised concerns about the number of shooting episodes involving Blackwater or the company’s high rate of shooting first, or detained Blackwater contractors for investigation,” the report states. Based on 437 internal Blackwater incident reports as well as internal State Department correspondence, the report said Blackwater’s use of force was “frequent and extensive, resulting in significant casualties and property damage.” The State Department ... has paid Blackwater more than $832 million for security services in Iraq and elsewhere, under a diplomatic security contract it shares with two other companies, DynCorp International and Triple Canopy.

Bleakonomics
2007-09-30, New York Times
http://www.nytimes.com/2007/09/30/books/review/Stiglitz-t.html?ex=1348804800&...

The Shock Doctrine is [Naomi] Klein’s ambitious look at the economic history of the last 50 years and the rise of free-market fundamentalism around the world. “Disaster capitalism,” as she calls it, is a violent system that ... requires terror to do its job. Extreme capitalism loves a blank slate, often finding its opening after crises or “shocks.” Klein compares radical capitalist economic policy to shock therapy administered by psychiatrists. She interviews Gail Kastner, a victim of covert C.I.A. experiments in interrogation techniques that were carried out by the scientist Ewen Cameron in the 1950s. His idea was to use electroshock therapy to break down patients. Once “complete depatterning” had been achieved, the patients could be reprogrammed. For Klein the larger lessons are clear: “Countries are shocked — by wars, terror attacks, coups d’état and natural disasters.” Then “they are shocked again — by corporations and politicians who exploit the fear and disorientation of this first shock to push through economic shock therapy.” People who “dare to resist” are shocked for a third time, “by police, soldiers and prison interrogators.” Klein offers an account of Milton Friedman — she calls him “the other doctor shock”. In the 1950s, as Cameron was conducting his experiments, the Chicago School was developing the ideas that [dominate capitalist planning today]. She quotes the Chilean economist Orlando Letelier on the “inner harmony” between the terror of the Pinochet regime and its free-market policies. Letelier said that Milton Friedman shared responsibility for the regime’s crimes, rejecting his argument that he was only offering “technical” advice. Letelier was killed in 1976 by a car bomb planted in Washington [DC]. For Klein, he was another victim of the “Chicago Boys” who wanted to impose free-market capitalism on the region. “In the Southern Cone, where contemporary capitalism was born, the ‘war on terror’ was a war against all obstacles to the new order,” she writes.

Note: For highly revealing, verifiable information on government mind control programs, click here.

Consumers lose most credit card disputes
2007-09-27, CNN/Associated Press
http://money.cnn.com/news/newsfeeds/articles/newstex/AFX-0013-19878484.htm

A consumer advocacy group [has] released a study alleging credit card companies use arbitration firms that they know will rarely rule in favor of consumers. Nearly all credit card customer service agreements mandate binding arbitration because it is a cheaper and faster way to resolve disputes, industry officials say. Public Citizen though says the companies hire arbitration firms that almost always rule in favor of the card issuer. Arbitration firms used by companies such as Mastercard Inc., Visa, Discover Financial Services LLC and American Express Co. ruled against consumers in 32,300 of 34,000 disputes that went to arbitration, according to Public Citizen's study. 'This is a system that is unfair to consumers,' Joan Claybrook, the group's president said at a press briefing. Sen. Russ Feingold, D-Wis. and Rep Hank Johnson, D-Ga., attended the briefing to say they have introduced legislation that would let credit card customers choose arbitration or civil court in a dispute. 'People shouldn't have to give up their legal rights just to get a credit card,' Claybrook said. Public Citizen's study singled out arbitration disputes in California because it is the only state that requires arbitration resolutions be disclosed. Public Citizen also singled out the Minneapolis-based National Arbitration Forum, which has arbitrated many of the disputes analyzed.

Chip implants linked to animal tumors
2007-09-09, Associated Press
http://ap.google.com/article/ALeqM5hYssebw3_FRuof2bdR1YdCo8OgXA

When the U.S. Food and Drug Administration approved implanting microchips in humans, the manufacturer said it would save lives, letting doctors scan the tiny transponders to access patients' medical records almost instantly. The FDA found "reasonable assurance" the device was safe, and a sub-agency even called it one of 2005's top "innovative technologies." But neither the company nor the regulators publicly mentioned this: A series of veterinary and toxicology studies, dating to the mid-1990s, stated that chip implants had "induced" malignant tumors in some lab mice and rats. "The transponders were the cause of the tumors," said Keith Johnson, a retired toxicologic pathologist, explaining ... the findings of a 1996 study he led at the Dow Chemical Co. Leading cancer specialists reviewed the research for The Associated Press and ... said the findings troubled them. Some said they would not allow family members to receive implants, and all urged further research before the glass-encased transponders are widely implanted in people. To date, about 2,000 of the so-called radio frequency identification, or RFID, devices have been implanted in humans worldwide. Did the agency know of the tumor findings before approving the chip implants? The FDA declined repeated AP requests to specify what studies it reviewed. The FDA is overseen by the Department of Health and Human Services, which, at the time of VeriChip's approval, was headed by Tommy Thompson. Two weeks after the device's approval took effect on Jan. 10, 2005, Thompson left his Cabinet post, and within five months was a board member of VeriChip Corp. and Applied Digital Solutions. He was compensated in cash and stock options.

Note: For more reliable information about the use and dangers of microchips, click here.

Food Conscious
2007-06-27, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/06/27/FDGFMQJFG21.DTL

Opponents of GE [genetically engineered] food ... say problems suggested in some health studies could take years to show up. Meanwhile, we're eating lots of GE foods anyway, whether we know it or not -- especially in processed foods, because corn, soy and canola are the Big 3 GE food crops." Since our government has refused to label these foods, how do we avoid buying and eating these foods?" asks [Andrew] Kimbrell, an attorney who heads the Washington, D.C.-based Center for Food Safety, a vocal opponent of GE foods. His new book, Your Right to Know: Genetic Engineering and the Secret Changes in Your Food ... answers that question. For conscious eaters, the heart of the book is a 14-page guide to your local supermarket. It tells you which foods are the most likely to contain GE ingredients (chips, snacks and baby formula), which aren't (fruits, vegetables, wheat), and how to read labels for "hidden ingredients" derived from corn, soy or canola (hint: look for high fructose corn syrup, soy lecithin and canola oil). A passport-size version of the guide, small enough to slide into most pockets or purses, comes along with the book. "I wanted to give people a usable tool to avoid these foods so they don't feel so helpless," said Kimbrell. The book isn't intended to present the pros and cons of GE foods. Kimbrell is 100 percent against the technology and spends a lot of time in court fighting companies like Monsanto, to keep GE crops from spreading. The Center for Food Safety also opposes irradiation and food animal cloning, and has labored to keep industry from weakening federal organic standards. In fact, Kimbrell is the man who calls the current administration's efforts to protect food safety "Katrina on a plate."

Sicko? The truth about the US healthcare system
2007-06-04, The Independent
http://news.independent.co.uk/world/americas/article2611736.ece

Within a few hours, Cynthia Kline was dead. She died in an American city with one of the highest concentrations of top-flight medical specialists in the world. And it happened largely because of America's broken health care system - one where 50 million people are entirely without insurance coverage and tens of millions more struggle to have the treatment they need approved. As a result, medical problems go unattended until they reach crisis point. America's health system offers a tremendous paradox. In medical technology and in the scientific understanding of disease, it is second-to-none. And yet many, if not most, Americans are unable to reap the advantages of this. In fact, as The New York Times columnist Paul Krugman has argued, the very proliferation of research and high-tech equipment is part of the reason for the imbalance in coverage between the privileged few and the increasingly underserved masses. "[The system] compensates for higher spending on insiders, in part, by consigning more people to outsider status --robbing Peter of basic care in order to pay for Paul's state-of-the-art treatment," Krugman wrote. "Thus we have the cruel paradox that medical progress is bad for many Americans' health." Having the system run by for-profit insurance companies turns out to be inefficient and expensive as well as dehumanising. America spends more than twice as much per capita on health care as France, and almost two and a half times as much as Britain. And yet it falls down in almost every key indicator of public health, starting ... with infant mortality, which is 36 per cent higher than in Britain.

Executive on a Mission: Saving the Planet
2007-05-22, New York Times
http://www.nytimes.com/2007/05/22/science/earth/22ander.html?ex=1337486400&en...

What Ray Anderson calls his “conversion experience” occurred in the summer of 1994, when he was asked to give the sales force at Interface, the carpet tile company he founded, some talking points about the company’s approach to the environment. So he started reading about environmental issues, and thinking about them, until pretty soon it hit him: “I was running a company that was plundering the earth,” he realized. “I thought, ‘Damn, some day people like me will be put in jail!’” He devoted his speech to his newfound vision of polluted air, overflowing landfills, depleted aquifers and used-up resources. Only one institution was powerful enough and pervasive enough to turn these problems around, he told his colleagues, and it was the institution that was causing them in the first place: “Business. Industry. People like us. Us!" He challenged his colleagues to set a deadline for Interface to become a “restorative enterprise,” a sustainable operation that takes nothing out of the earth that cannot be recycled or quickly regenerated, and that does no harm to the biosphere. The deadline they ultimately set is 2020, and the idea has taken hold throughout the company. Mr. Anderson said that through waste reduction, recycling, energy efficiency and other steps, Interface was “about 45 percent from where we were to where we want to be.” Use of fossil fuels is down 45 percent ... he said, while sales are up 49 percent. Globally, the company’s carpet-making uses one-third the water it used to. The company’s worldwide contribution to landfills has been cut by 80 percent. And in the process, Mr. Anderson has turned into perhaps the leading corporate evangelist for sustainability.

Gas-sipping vehicle gets 1,900 mpg
2007-04-21, Los Angeles Times
http://www.latimes.com/business/la-fi-garagebriefs21apr21,1,5317797.story

We couldn't pass up mention of the winner of last week's Eco-marathon Americas, a fuel-economy challenge sponsored by Shell Oil Co. A team from Cal Poly San Luis Obispo won the $10,000 grand prize by achieving the equivalent of 1,902.7 miles per gallon on regular gasoline in a student-built vehicle. Granted, the students didn't win in someone's mom's Dodge minivan. Their "car" is a one-occupant streamliner built of carbon fiber composite. At a measly 98 pounds, it weighed less than the driver. And that was 98 pounds including the car's 50-cubic-centimeter Honda engine. "The main reason we do this is because it's a way to encourage students to focus on technical innovation for potential future careers," said David Sexton, president of Shell Oil Products. But there is a practical side to the competition, said Cal Poly team manager Tom Heckel, a junior mechanical engineering major. "Any publicity we can get makes people aware that the 20 mpg or so they're averaging in their cars can be improved on — a lot." The event, held April 14 at the California Speedway in Fontana, was the first time that Shell had brought its 25-year-old Eco-marathon competition to the U.S. The event drew 20 university, college and high school teams from around the U.S. and Canada. Rules called for each vehicle to complete seven 1.45-mile laps around the speedway's inner track, averaging at least 15 mph. Fuel consumption was measured after each attempt and adjusted for ambient temperature and other factors in a complex formula that ends up giving an extrapolation of miles per gallon.

Note: Why would the president of Shell Oil Products state the main reason for this competition is about careers and not finding ways to improve gas mileage? The world record is over 10,000 mpg. How is it that the average car gets only 22 mpg when the Ford Model T got 25 mpg almost 100 years ago? For more, click here.

Web entrepreneurs have an eye on social need -- not personal greed
2007-04-15, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/04/15/BUG5SP63BR85.DTL

Ryan Mickle's life was the stuff young bourgeois dreams are made of. Then a year ago ... Mickle began to take stock of his life. He was earning a lot of money but was giving very little of himself. So Mickle ditched his high-paying job to brainstorm a new venture with friend Rod Ebrahimi. The result was Dotherightthing.com, a San Francisco startup that allows users to rank companies based on their social impact on the world. Their site [allows] consumers to influence corporate behavior. The sentiment is summed up in Dotherightthing.com's T-shirt slogan: "It's cool to care." Mickle, 26, and Ebrahimi, 25, are among a growing number of entrepreneurs betting they can build ventures that deliver both financial and social returns. EBay founder Pierre Omidyar has dedicated much of his fortune to helping for-profits and nonprofits alike discover their power to do good. At www.freepledge.com, shoppers buy the same products from the same merchants for the same price, but a percentage is donated to the nonprofit of their choice. Darian Hickman, 28, is designing an online strategy game that turns the players into entrepreneurs who help bring prosperity to impoverished villages in underdeveloped countries. [He was] inspired by Muhammad Yunus, the Nobel prize-winning micro-finance pioneer. Premal Shah [is a] former PayPal executive who is president of online micro-lender Kiva.org. Brian Johnson, 32 ... said he felt uncomfortable with capitalism until he hit on the concept of "using economics as a force for good. How do we live our spiritual ideals and make money?" Now Johnson tries to have it both ways with Zaadz.com, which he describes as MySpace for people who want to change the world.

Note: We encourage you to take some time to explore some of these exciting new adventures which are transforming the face of business and building a brighter future for us all. For more on micro-finance, micro-lending, and how you can help end poverty without donating a penny, click here. And for the profile of website founder Fred Burks on Zaadz.com, click here.

Unsung fortune: A rich man's secret
2007-03-26, Philadelphia Inquirer
http://www.philly.com/philly/news/homepage/20070326_Unsung_fortune__A_rich_ma...

Hal Taussig wears baggy jeans and fraying work shirts that Goodwill might reject. His shoes have been resoled three times. At age 81, he doesn't own a car. He performs errands and commutes to the office by bicycle. And he has given away millions. Given the fortune that Taussig has made through Untours, his unique travel business, and has given away through the Untours Foundation, you could call him the Un-millionaire. If he so chose, he could be living in a Main Line mansion and driving a Mercedes. But he considers money and what he calls "stuff," beyond what he needs to survive, a burden, an embarrassment. In many respects, he's a 21st-century Thoreau. "Let your capital be simplicity and contentment," the sage of Walden Pond wrote. "Those are my sentiments precisely," says Taussig, who has three children, five grandchildren, and five great-grandchildren. He directs the Untours Foundation, into which he pours all his profits - $5 million since 1992. The money is used to make low-interest loans to ventures and projects that help the needy and jobless - from a craft store in Hanoi to a home-health-care cooperative in Philadelphia. "I invest in entrepreneurial efforts to help poor people leverage themselves out of poverty." "In America, we worship success," he says. "It's a shoddy ethic that leads us to value who we are by what we are." The motto of the Untours Foundation is "a hand up, not a handout." It provides low-interest loans, here and abroad, to create jobs, build low-income housing, and support fair-trade products: goods such as coffee that are sold at a price that guarantees producers and workers a fair wage and decent livelihood.

Note: For an easy way you can use your investments to help families pull out of poverty, click here.

Got rbST in your milk?
2007-03-25, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2007/03/25/BUGBROQASE1.DTL

Richard Cotta, CEO of California Dairies Inc., the nation's second-largest dairy cooperative, is guided by a simple business philosophy: "If you want milk with little blue dots, you'll have it, as long as you are willing to pay for it." So, when a string of major customers, including supermarket giant Safeway, came to his co-op saying they would no longer accept milk from cows treated with a genetically engineered growth hormone, the co-op bowed to the inevitable. In January, California Dairies' board voted to ask its members not to inject synthetic bovine growth hormone into their cows. The action by a co-op that ships 50 million pounds of milk every day is part of a sweeping, consumer-driven agricultural makeover. Demand for natural foods is rising, while increasing numbers of consumers are avoiding products that rely on antibiotics or growth hormones. And food retailers are listening. Recombinant bovine somatotropin, or rbST, was approved by the Food and Drug Administration 14 years ago. It sustains lactation by stimulating cows' appetites so they eat more and produce more milk, perhaps an extra 5 quarts per day. The European Union, Japan, Canada and Australia did not approve rbST. The reasons included questions about human and animal safety, as well social and economic considerations. Research that shows injections of rbST increase another hormone, insulin-like growth factor 1, or IGF-1, in cows. Too much IGF-1 in humans is linked with increased rates of colon, breast and prostate cancer. Synthetic hormone use also ... leads to increased use of antibiotics, whose overuse is already a serious problem in the livestock industry.

Note: For many years the media has avoided even mentioning the major controversy over growth hormone use in milk and other animal products. To better understand how the mass media and big industry sometimes work together for profit at the expense of your health, click here.

Scientists muzzled, Congress told
2007-03-21, Sydney Morning Herald (Australia's leading newspaper)
http://www.smh.com.au/news/environment/scientists-muzzled/2007/03/20/11741530...

The Bush Administration has run a systematic campaign to play down the dangers of climate change, demanding hundreds of politically motivated changes to scientific reports and muzzling a pre-eminent expert on global warming, the US Congress has been told. The testimony ... painted the Administration as determined to maintain its line on climate change even when it clashed with the findings of scientific experts. The Administration has moved to exercise control over environmental agencies by installing political appointees including a former oil industry lobbyist, Philip Cooney, as chief of staff of the Council on Environmental Quality. In 2003 Mr Cooney and other senior appointed officials made at least 181 changes to a strategic plan on climate change to play down the scientific consensus on global warming. They made a further 113 alterations to minimise the human role in climate change. "These changes must be made," a note in Mr Cooney's handwriting says. Under heated questioning, Mr Cooney admitted the changes were all intended to cast doubt on the impact of global warming. Control from the White House became the norm, [NASA's Dr. James] Hansen told the committee. "Scientific press releases were going to the White House for editing," he said. "It's very unfortunate that we developed this politicisation of science. The public relations office should be staffed by expert appointees - otherwise they become offices of propaganda." Hansen was also restrained from giving press interviews by a junior political appointee, George Deutsch. Mr Deutsch left NASA early last year after it emerged he had falsified his CV.

When Organic Isn't Really Organic
2007-03-14, Time Magazine
http://www.time.com/time/health/article/0,8599,1599110,00.html

When you buy a gallon of organic milk, you expect to get tasty milk from happy cows who haven't been subjected to antibiotics, hormones or pesticides. But you might also unknowingly be getting genetically modified cattle feed. Albert Straus, owner of the Straus Family Creamery ... decided to test the feed that he gives his 1,600 cows last year and was alarmed to find that nearly 6% of the organic corn feed he received from suppliers was "contaminated" by genetically modified (GM) organisms. Organic food is, by definition, supposed to be free of genetically modified material. But as GM crops become more prevalent, there is little that an organic farmer can do to prevent a speck of GM pollen or a stray GM seed from being blown by the wind onto his land. In 2006, GM crops accounted for 61% of all the corn planted in the U.S. and 89% of all the soybeans. So Straus and five other natural food producers, including industry leader Whole Foods, announced last week that they would seek a new certification for their products, "non-GMO verified," in the hopes that it will become a voluntary industry standard for GM-free goods. In a few weeks, Straus expects to become the first food manufacturer in the country to carry the label in addition to his "organic" one. With Whole Foods in the ring, the rest of the industry will soon be under competitive pressure to follow. Genetically modified crops have become so prevalent in the U.S. that chances are you've been buying and eating them for years. You just wouldn't know it from the label: the U.S. Department of Agriculture, unlike agencies in Europe and Japan, do not require GM foods to be labeled.

Note: This article also states "scientists have not identified any specific health risks from eating GM foods." This is a clear lie, when two sentences later the article mentions Jeffrey Smith, who has written an entire book with excellent documentation showing many scientific studies in which animals died shortly after consuming GM foods. To see an excellent summary of this book including reliable footnotes, click here.

Safety Second?
2007-02-23, WXYZ - Detroit's ABC News Affiliate
http://www1.wxyz.com/wxyz/ys_investigations/article/0,2132,WXYZ_15949_5373880...

The Pentagon has said it, the President has said it, everybody says it: "Our troops deserve nothing but the best when we send them into combat." It’s a goal that isn’t always met. Did a retired Marine colonel’s connections count more than the best design for a new vehicle for the troops? Jerry Bazinski has made a career of designing and helping to develop new vehicles here in Detroit for years. So when the Marines called for new vehicle small enough to load into an Osprey helicopter but lean and mean enough to allow soldiers to move quickly and launch attacks deep into enemy territory, Jerry and a team of veteran Detroit vehicle designers came up with [a model that] met or exceeded all the specifications. It was designed to provide for bullet-proof protection from enemy gunfire. It included a sturdy built-in roll-cage. And the Marines were impressed, as you can see from the report card that shows a whole list of many strengths ... and "no significant weaknesses." Well, here’s what the Marines ultimately bought ... a model known as the Growler that sort of looks like a dune buggy with a machine gun. Though it may seem it should have a lower sticker price, it’s turned out to cost us upwards of $127,000 a copy. Former Colonel Terry Crews ... sold the Marines on the Growler. [Investigative Reporter Steve] Wilson to Wayne Blake/Growler Plant Manager: That’s how he got this contract, he had some friends, didn’t he? Blake: Yeah, he lives 15 miles from the Pentagon. And the military version is $127,000. And if you bought it as a civilian version? 17,000.

Note: This article has disappeared from the website, though you can try this Google cache version. For a highly revealing, two-page summary by a top U.S. general on major war corruption, click here.

Merck Suspends Lobbying for Vaccine
2007-02-21, CBS News/Associated Press
http://www.cbsnews.com/stories/2007/02/21/ap/business/mainD8NDU4AG0.shtml

Pediatricians, gynecologists and even health insurers all call Gardasil, the first vaccine to prevent cervical cancer, a big medical advance. But medical groups, politicians and parents began rebelling after disclosure of a behind-the-scenes lobbying campaign by Gardasil's maker, Merck & Co., to get state legislatures to require 11- and 12-year-old girls to get the three-dose vaccine as a requirement for school attendance. Some parents' groups and doctors particularly objected because the vaccine protects against a sexually transmitted disease. Vaccines mandated for school attendance usually are for diseases easily spread through casual contact, such as measles and mumps. Bowing to pressure, Merck said Tuesday that it is immediately suspending its controversial campaign, which it had funded through a third party. Legislatures in roughly 20 states have introduced measures that would mandate girls have the vaccine to attend school. Texas Gov. Rick Perry on Feb. 2 issued an executive order requiring Texas girls entering the sixth grade as of 2008 get the vaccinations. Dr. Anne Francis, who chairs an American Academy of Pediatrics committee [stated] "I believe that their timing was a little bit premature," she said, "so soon after (Gardasil's) release, before we have a picture of whether there are going to be any untoward side effects." The country has been "burned" by some drugs whose serious side effects emerged only after they were in wide use, including Merck's withdrawn painkiller Vioxx. The vaccine also is controversial because of its price - $360 for the three doses required.

Note: $360 for every girl in school would amount to quite a hefty transfer of funds from taxpayers into the pockets of Merck. Could profit and campaign contributions be behind the move to make this mandatory?

Auditors: Billions of U.S. tax dollars wasted in Iraq
2007-02-16, CNN News/Associated Press
http://edition.cnn.com/2007/POLITICS/02/16/iraq.reconstruction.ap

The three top auditors overseeing work in Iraq told a House committee their review of $57 billion in Iraq contracts found that ... about $10 billion has been squandered by the U.S. government on Iraq reconstruction aid because of contractor overcharges and unsupported expenses. Of the $10 billion in overpriced contracts or undocumented costs, more than $2.7 billion were charged by Halliburton Co., the oil-field services company once headed by Vice President Dick Cheney. Federal investigators warned Thursday that significantly more taxpayer money is at risk. More than one in six dollars charged by U.S. contractors were questionable or unsupported, nearly triple the amount of waste the Government Accountability Office estimated last fall. "There is no accountability," said David M. Walker, who heads the auditing arm of Congress. "Organizations charged with overseeing contracts are not held accountable. Contractors are not held accountable. The individuals responsible are not held accountable." The investigators urged the Pentagon to reconsider its growing reliance on outside contractors. Layers of subcontractors, poor documentation and lack of strong contract management are rampant. Walker complained that GAO investigators have difficulty getting basic detail about reconstruction contracts such as expenses and subcontractors involved because many Pentagon divisions fail to consistently track or fully report them. Noting that auditors still have $300 billion of Iraq spending to review, Waxman said the total amount of waste, fraud and abuse "could be astronomical."

Note: To understand how so much money can go missing, read what a top U.S. general has to say here. And for major media articles claiming hundreds of billions of dollars are missing, click here.

Exxon's 'outlandish' earnings spark furor
2007-02-02, Globe and Mail (One of Canada's Leading Newspapers)
http://www.theglobeandmail.com/servlet/story/LAC.20070202.EXXON02/TPStory

The world's largest publicly owned oil company announced yesterday the largest corporate profit ever, but news of its near $40-billion (U.S.) windfall in 2006 sparked an angry backlash, coming on the eve of a major report blaming the use of fossil fuels for wreaking devastation on the planet. Exxon shares have risen by about 20 per cent in the past year. Exxon wasn't alone in unprecedented oil earnings. Royal Dutch Shell PLC, an Anglo-Dutch company, and U.S.-run Marathon Oil and Valero Energy, also posted best-ever annual results yesterday. And ConocoPhillips Co., also American, last week posted its highest profits. Profits at the five companies together totalled $91.1-billion -- in a year when drivers paid record prices for gasoline. Both Democratic and Republican members of Congress have also urged Exxon to end its funding of organizations that deny the existence of -- or minimize the seriousness of -- human-made global warming. Scientists yesterday accused the conservative American Enterprise Institute, which receives funding from Exxon, of offering scientists up to $10,000 for articles that undercut a report to be released today from the Intergovernmental Panel on Climate Change. Last month, the Union of Concerned Scientists ... said that Exxon has spent $16-million over the past 10 years financing organizations that deny the seriousness of climate change. Alden Meyer, a strategist with the group, compared Exxon's efforts to discredit the science of global warming to the tobacco companies' efforts to sow doubts about the link between smoking and lung cancer in order to protect their profits.

Note: Compare this Canadian article with the New York Times reporting of this record profit, or that of any other major U.S. newspaper. The U.S. press barely mentions that oil company gouging which took dollars from your pocket is what led to record profits. To understand why the U.S. press behaves in this way, click here.

Scientists find way to slash cost of drugs
2007-01-02, The Guardian (One of the U.K.'s leading newspapers)
http://www.guardian.co.uk/india/story/0,,1981200,00.html

Two UK-based academics have devised a way to invent new medicines and get them to market at a fraction of the cost charged by big drug companies. Sunil Shaunak, professor of infectious diseases at Imperial College ... calls their revolutionary new model "ethical pharmaceuticals". Improvements they devise to the molecular structure of an existing, expensive drug turn it technically into a new medicine which is no longer under a 20-year patent to a multinational drug company and can be made and sold cheaply. The process has the potential to undermine the monopoly of the big drug companies and bring cheaper drugs not only to poor countries but back to the UK. Professor Shaunak and his colleague from the London School of Pharmacy, Steve Brocchini, have linked up with an Indian biotech company which will manufacture the first drug - for hepatitis C. Hepatitis C affects 170 million people worldwide and at least 200,000 in the UK. Multinational drug companies put the cost of the research and development of a new drug at $800m (£408m). Professors Shaunak and Brocchini say the cost of theirs will be only a few million pounds. Professor Shaunak says it is time that the monopoly on drug invention and production by multinational corporations - which charge high prices because they need to make big profits for their shareholders - was broken. The team's work on the hepatitis C drug has impeccable establishment credentials. But the professors' ethical pharmaceutical model is unlikely to find much favour with the multinational pharmaceutical companies, which already employ large teams of lawyers to defend the patents which they describe as the lifeblood of the industry.

Note: This is very exciting news, but we'll see what happens when the hugely profitable pharmaceutical industry presses its might against this effort. For more, click here.

Has Politics Contaminated the Food Supply?
2006-12-11, New York Times
http://www.nytimes.com/2006/12/11/opinion/11schlosser.html?ex=1323493200&en=4...

One hundred years ago, companies were free to follow their own rules. The publication of Upton Sinclair’s novel “The Jungle” in 1906 — with its descriptions of rat-infested slaughterhouses and rancid meat — created public outrage over food safety. Even though the book was written by a socialist agitator, a Republican president, Theodore Roosevelt, eagerly read it. After confirming Sinclair’s claims, Roosevelt battled the drug companies, the big food processors and the meatpacking companies to protect American consumers from irresponsible corporate behavior. Over the past 40 years, the industrialization and centralization of our food system has greatly magnified the potential for big outbreaks. As a result, a little contamination can go a long way. The Taco Bell distribution center in New Jersey now being investigated as a possible source of E. coli supplies more than 1,100 restaurants in the Northeast. Since 2000, the fast-food and meatpacking industries have given about four-fifths of their political donations to Republican candidates for national office. In return, these industries have effectively been given control of the agencies created to regulate them. The current chief of staff at the Agriculture Department used to be the beef industry’s chief lobbyist. The person who headed the Food and Drug Administration until recently used to be an executive at the National Food Processors Association. Cutbacks in staff and budgets have reduced the number of food-safety inspections conducted by the F.D.A. to about 3,400 a year — from 35,000 in the 1970s.

Note: If you care about the health of our nation's food supply, write your political and media representatives encouraging the passage of the Safe Food Act mentioned in this article, which by the way, was written by the author of the most excellent book, Fast Food America.

Oil industry denies price manipulation
2006-11-26, BusinessWeek/Associated Press
http://www.businessweek.com/ap/financialnews/D8LKSUQO0.htm

An Associated Press analysis suggests that big oil companies have been crimping supplies ... across the country for years. The analysis, based on data from the U.S. Energy Information Administration, indicates that the industry slacked off supplying oil and gasoline during the prolonged price boom between early 1999 and last summer, when prices began to fall. The findings support a conclusion already reached by many motorists. Fifty-five percent of Americans believe gas prices are high because [of] oil companies. Though set back temporarily by the [9/11] attacks, the oil business has profited handsomely since then. The biggest six refiners ... rang up $400 billion in profits since 2001. Though reserves have kept pretty steady, the oil industry taps those resources to varying degrees from year to year. The industry has shelved an average of 21 percent more unrefined oil from the start of 2004 through last June. Last spring, stocks of shelved crude reached their highest level in eight years, despite the fabulous riches at hand in high prices then. The industry also protected profits by not building any new refineries. [And] thanks to mergers, the top 10 companies now control three-quarters of national refining capacity, up from half in the early 1990s. A 2001 study by the Federal Trade Commission reported that some firms were deciding to "maximize their profits" by crimping supply. One executive told regulators "he would rather sell less gasoline and earn a higher margin on each gallon sold." However upsetting to drivers, such tactics are usually viewed as legal. "A decision to limit supply does not violate the antitrust laws," regulators wrote in one FTC report.

Senators to Exxon: Stop the Denial
2006-10-27, ABC News
http://abcnews.go.com/Technology/story?id=2612021

ExxonMobil should stop funding groups that have spread the idea that global warming is a myth and that try to influence policymakers to adopt that view, two senators said today in a letter to the oil company. In their letter to ExxonMobil chairman and CEO Rex Tillerson, Sens. Olympia Snowe, R-Maine, and Jay Rockefeller, D-W.Va., appealed to Exxon's sense of corporate responsibility, asking the company to "come clean about its past denial activities." The two senators called on ExxonMobil to "end any further financial assistance" to groups "whose public advocacy has contributed to the small but unfortunately effective climate change denial myth." An upcoming study from the Union of Concerned Scientists reported that ExxonMobil funded 29 climate change denial groups in 2004 alone. Since 1990, the report said, the company has spent more than $19 million funding groups that promote their views through publications and Web sites that are not peer reviewed by the scientific community.

Getting closer to Uncle Sam
2006-09-20, Toronto Star (One of Canada's top newspapers)
http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Articl...

Public kept in dark as business leads talks about North American integration. Away from the spotlight, from Sept. 12 to 14, in Banff Springs, Minister of Public Safety Stockwell Day and Defence Minister Gordon O'Connor met with U.S. and Mexican government officials and business leaders to discuss North American integration at the second North American Forum. The guest list included such prominent figures as U.S. Defence Secretary Donald Rumsfeld, Mexican Secretary of Public Security Eduardo Medina Mora and Canadian Forces chief General Rick Hillier. The event was chaired by former U.S. secretary of state George Schultz, former Alberta premier, Peter Lougheed and former Mexican finance minister Pedro Aspe. Organizers did not alert the media about the event. Our government ... refuses to release any information about the content of the discussions or the actors involved. The event was organized by the Canadian Council of Chief Executives. The media have paid little attention to this far-reaching agreement, so Canadians are unaware that a dozen working groups are currently "harmonizing" Canadian and U.S. regulations on everything from food to drugs to the environment and even more contentious issues like foreign policy. This process ... is about priming North America for better business by weakening the impacts of such perceived obstacles as environmental standards and labour rights. This is why the public has been kept in the dark while the business elite has played a leading role in designing the blueprint for this more integrated North America.

Note: If the above link fails, click here. Why has the U.S. media not covered this key topic? For a second article discussing this secret meeting on a top Canadian TV website, click here. To learn about other secret meetings of the power elite: click here

Big Tobacco Lied to Public, Judge Says
2006-08-18, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2006/08/17/AR20060817007...

A federal judge ruled yesterday that tobacco companies have violated civil racketeering laws, concluding that cigarette makers conspired for decades to deceive the public about the dangers of their product. But U.S. District Judge Gladys Kessler said that under a 2005 appellate court ruling, she could not impose billions of dollars in penalties that had been sought by the Justice Department in its civil racketeering suit. In the opinion...Kessler wrote that there is "overwhelming evidence" [that the industry] conspired to violate, and indeed violated, federal racketeering laws. "In short," she wrote, "defendants have marketed and sold their lethal product with zeal, with deception, with a single-minded focus on their financial success, and without regard for the human tragedy or social costs that success exacted. Over the course of more than 50 years, defendants lied, misrepresented and deceived the American public, including smokers and the young people...about the devastating health effects of smoking and environmental tobacco smoke." Kessler added that the companies "suppressed research, they destroyed documents, they manipulated the use of nicotine so as to increase and perpetuate addiction...and they abused the legal system in order to achieve their goal -- to make money." The Justice Department lawsuit originally sought $280 billion. But the U.S. Court of Appeals [ruled] a company could not be forced to turn over past profits as a way of preventing future misconduct. The Justice Department subsequently proposed a $130 billion penalty to pay for anti-smoking programs, but...it scaled that back to a total of $14 billion.

The 100-mpg car is coming
2006-07-19, MSN
http://articles.moneycentral.msn.com/SavingandDebt/SaveonaCar/The100mpgCarIsC...

Though the 100 mpg car sounds like a myth, it turns out that such vehicles do exist -- only they're built in your neighbor's garage, not a giant production plant. Known as plug-in hybrid-electric vehicles ... they’re basically Priuses or similar hybrids that have been equipped with extra batteries, so that they rarely use their gasoline engines at all. "People are salivating for plug-ins," says Bradley Berman, editor of the site HybridCars.com. A hybrid vehicle today like a Prius has both a gasoline engine and a battery, which is fed by the braking energy produced by the car. It can’t be plugged in. A plug-in hybrid keeps those components, but essentially gets an extra fuel tank, in the form of an added battery bank ... that allows the car to run exclusively off battery power for most driving. Felix Kramer, founder of the California Cars Initiative, a nonprofit group that promotes the use of high-efficiency, low-emission cars, owns the first consumer plug-in in North America. Not surprisingly, he loves it. "Many days I use no gasoline, because I go at neighborhood speeds for under 30 miles, and I’m just all-electric all day," he says. And the mileage? "At highway speeds, you can easily get over 100 mpg." Other plug-in owners offer up similar results. "I used to fill up every 400 miles or so," he says ... "and now I fill up every 800 miles or so." Advocates estimate that it costs less than $1 per gallon to replenish a plug-in hybrid. "Our goal is to have a $3,000 kit," CalCars' Kramer says. (That number, coincidentally, is also what many plug-in evangelists think that the technology would cost for Toyota to add to its hybrids.)

Note: If people are doing this in their garage, why aren't the auto makers already producing them? In fact, a similar vehicle was produced to be marketed in 2002, but then pulled off the market. To find why average car mileage has remained virtually unchanged for 100 years, click here.

Intelligence Czar Can Waive SEC Rules
2006-05-23, BusinessWeek
http://www.businessweek.com/bwdaily/dnflash/may2006/nf20060523_2210.htm

President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register, dated May 5, 2006, that was opaque to the untrained eye. Unbeknownst to almost all of Washington and the financial world, Bush and every other President since Jimmy Carter have had the authority to exempt companies working on certain top-secret defense projects from portions of the 1934 Securities Exchange Act. Administration officials told BusinessWeek that they believe this is the first time a President has ever delegated the authority to someone outside the Oval Office. It couldn't be immediately determined whether any company has received a waiver under this provision. The timing of Bush's move is intriguing. On the same day the President signed the memo, Porter Goss resigned as director of the Central Intelligence Agency. Only six days later ... USA Today reported that the National Security Agency had obtained millions of calling records of ordinary citizens provided by three major U.S. phone companies. Negroponte oversees both the CIA and NSA in his role as the administration's top intelligence official. In addition to refusing to explain why Bush decided to delegate this authority to Negroponte, the White House declined to say whether Bush or any other President has ever exercised the authority and allowed a company to avoid standard securities disclosure and accounting requirements.

Note: For many revealing reports on government secrecy from major media sources, click here.

Exxon Mobil Posts Largest Annual Profit for U.S. Company
2006-01-30, New York Times
http://www.nytimes.com/2006/01/30/business/30cnd-exxon.html?ex=1296277200&en=...

Exxon Mobil, the nation's largest energy company, today reported a 27 percent surge in profits for the fourth quarter as elevated fuel prices gave rise to the most lucrative year ever for an American company. Exxon's profits are expected to generate new scrutiny of the company's operations in Washington, where legislators have recently expressed concern over Big Oil's good fortune as soaring oil and natural gas prices pressure consumers. Exxon said its profits climbed more than 40 percent last year, while its tax bill rose only 14 percent. Exxon's revenue last year allowed it to surpass Wal-Mart as the largest company in the United States. [The company's] revenue of $371 billion surpassed the gross domestic product of $245 billion for Indonesia, an OPEC member and the world's fourth most populous country with 242 million people.

Note: This article fails to mention the huge profits reaped by oil companies as a result of gas price gouging immediately after Katrina.

'National interest' halts arms corruption inquiry
2005-12-15, The Guardian (One of the U.K.'s leading newspapers)
http://www.guardian.co.uk/armstrade/story/0,,1972749,00.html

A major criminal investigation into alleged corruption by the arms company BAE Systems and its executives was stopped in its tracks yesterday when the prime minister claimed it would endanger Britain's security. The remarkable intervention was announced by the attorney general, Lord Goldsmith, who took the decision to end the Serious Fraud Office [SFO] inquiry into alleged bribes paid by the company to Saudi officials. BAE and the Saudi embassy had frantically lobbied the government for the long-running investigation to be discontinued, with the company insisting it was poised to lose another lucrative Saudi contract. This came at a time when the SFO appeared to have made a significant breakthrough, with investigators on the brink of accessing key Swiss bank accounts. Lord Goldsmith consulted the prime minister, the defence secretary, foreign secretary, and the intelligence services, and they decided that "the wider public interest" "outweighed the need to maintain the rule of law". The decision was condemned last night as naked political interference in a criminal case. The Liberal Democrat chief of staff said the government had succumbed to Saudi pressure. The UK made overseas bribery illegal in 2002, under US pressure. No prosecutions have taken place under the new law. Clare Short, Mr Blair's former cabinet colleague, said: "The message it sends to corrupt businessmen is carry on - the government will support you."

Note: It's interesting how "the wider public interest" is so often tied to lucrative contracts and profits.

'The Future of Food'
2005-09-30, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2005/09/30/DDGHOEVICB1.DTL#f...

Food insiders may already know the disturbing facts highlighted by this film, but the general public is in for a shock at how corporations are using misleading campaigns -- and scare tactics -- to ensure that people around the world become dependent on genetically modified food. Monsanto and other corporate behemoths are motivated (not surprisingly) by profits, according to farmers, academics and others who talk to documentarian Deborah Koons Garcia. Canadian farmer Percy Schmeiser was targeted by Monsanto's lawyers because some of the corporation's patented seedlings were found on his property. Schmeiser didn't plant them there; wind blew the insecticide-resistant seeds onto his farm from another farm, or the seeds fell off a passing truck. Monsanto didn't care, ordering Schmeiser to kill all his family's seed because they'd potentially been contaminated by its patented product. Schmeiser ... fought Monsanto, spending his retirement money against the sort of legal attack that has already scared farmers throughout North America. Incredibly, a judge ruled in favor of Monsanto. Garcia's documentary shows how much the U.S. federal government favors these corporations, especially through lax oversight (the [FDA] and the Department of Agriculture seem to rubber-stamp every corporate project having to do with genetically modified food). In the past 20 years, Monsanto's alumni have occupied the high reaches of American power. Supreme Court Justice Clarence Thomas, for example, did legal work for the corporation, while Secretary of Defense Donald Rumsfeld was president of a Monsanto subsidiary.

Note: To view this highly educational film, click here. To read another excellent review of this important documentary, click here.

Garrett of 'Newsday' Rips Tribune Co. 'Greed' in Exit Memo
2005-03-01, Editor and Publisher (Leading Media Trade Publication)
http://www.mediainfo.com/eandp/news/article_display.jsp?vnu_content_id=100081...

Laurie Garrett, the prize-winning Newsday reporter, left the Melville, N.Y., paper Monday with a blistering memo to her colleagues that may provoke debate elsewhere in the newspaper industry. "The leaders of Times Mirror and Tribune have proven to be mirrors of a general trend in the media world: They serve their stockholders first, Wall St. second and somewhere far down the list comes service to newspaper readerships.” Garrett won a Pulitzer Prize in 1996 for her reporting on Ebola. She’s also won a Polk Award and a Peabody and was finalist for another Pulitzer in 1998. “The deterioration we experienced at Newsday was hardly unique," she wrote.. "All across America news organizations have been devoured by massive corporations, and allegiance to stockholders, the drive for higher share prices, and push for larger dividend returns trumps everything that the grunts in the newsrooms consider their missions. Honesty and tenacity ... seem to have taken backseats to the sort of 'snappy news', sensationalism, scandal-for-the-sake of scandal crap that sells. Profits: that's what it's all about now. This is terrible for democracy. I can attest to the horrible impact the deterioration of journalism has had on the national psyche. But giving up is not an option. There is too much at stake. Now is the time to think in imaginative ways. Opportunities for quality journalism are still there, though you may need to scratch new surfaces, open locked doors and nudge a few reticent editors to find them. Your readers desperately need for you to try, over and over again, to tell the stories, dig the dirt and bring them the news."

Note: If above link fails, click here.

Technology gets under clubbers' skin
2004-06-09, CNN News
http://edition.cnn.com/2004/WORLD/europe/06/09/spain.club

Queuing to get into one nightclub in Spain could soon be a thing of the past for regular customers thanks to a tiny computer chip implanted under their skin. The technology, known as a VeriChip, also means nightclubbers can leave their cash and cards at home and buy drinks using a scanner. The bill can then be paid later. Clubbers who want to join the scheme at Baja Beach Club in Barcelona pay 125 euros (about US $150) for the VeriChip -- about the size of a grain of rice -- to be implanted in their body. Then when they pass through a scanner the chip is activated and it emits a signal containing the individual's number, which is then transmitted to a secure data storage site. The club's director, Conrad Chase, said he began using the VeriChip, made by Applied Digital Solutions, in March 2004 because he needed something similar to a VIP card and wanted to provide his customers with better service. He said 10 of the club's regular customers, including himself, have been implanted with the chip, and predicted more would follow. "I know many people who want to be implanted," said Chase. "Almost everybody now has a piercing, tattoos or silicone. Why not get the chip and be original?" Chase said VeriChip could also boost security by speeding up checks at airports, for example. He denied the scheme had any drawbacks. The VeriChip is an in-house debit card and contains no personal information.

Note: Why is the media so upbeat about this? The article raises very few questions, yet seems to promote microchip implants in humans as the wave of the future for commerce.

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.

Biotech critics at risk : Economics calls the shots in the debate
2004-01-11, San Francisco Chronicle (San Francisco's leading newspaper)
http://sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2004/01/11/INGH...

Between 1999 and 2001, unbeknownst to the others, each [of four scientists] made a simple but dramatic discovery that challenged the catechism of the same powerful industry -- biotechnology -- that by then had become the handmaiden of industrial agriculture and the darling of venture capitalists. When he was the principal scientific officer of the Rowett Institute in Aberdeen, Scotland, Hungarian citizen Arpad Pusztai fed transgenically modified [GMO] potatoes to rodents in one of the few experiments that have ever tested the safety of genetically modified food. Almost immediately, the rats displayed tissue and immunological damage. After he reported his findings, which eventually underwent peer review and were published in the United Kingdom's leading medical journal, Lancet, Pusztai's home was burglarized and his research files taken. Soon thereafter, he was fired from his job at Rowett, and he has since suffered an orchestrated international campaign of discreditation. [Read full article for the other three distrubing stories of scientific suppression] These four men were not attacked because of flawed or imperfect experiments but because the findings of their work have a potential economic effect. The sad part is that the academies and other allegedly independent institutions that once defended scientific freedom and protected employees like Hayes, Chapela, Losey and Pusztai are abandoning them to the wolves of commerce, the brands of which are being engraved over the entrances to a disturbing number of university labs.

Note: Big money is clearly stifling good science and keeping the public in the dark about genetic modifications in the food we eat. To educate yourself on this most important topic, click here.

Bush's Grandfather Directed Bank Tied to Man Who Funded Hitler
2003-10-17, Fox News/Associated Press
http://www.foxnews.com/story/0,2933,100474,00.html

President Bush's grandfather was a director of a bank seized by the federal government because of its ties to a German industrialist who helped bankroll Adolf Hitler's rise to power, government documents show. Prescott Bush was one of seven directors of Union Banking Corp., a New York investment bank owned by a bank controlled by the Thyssen family, according to recently declassified National Archives documents reviewed by The Associated Press. Fritz Thyssen was an early financial supporter of Hitler. Reports of Bush's involvement with the seized bank have been circulating on the Internet for years and have been reported by some mainstream media. The newly declassified documents provide additional details about the Union Banking-Thyssen connection. Union Banking was owned by a Dutch bank, Bank voor Handel en Scheepvaardt N.V., which was "closely affiliated" with the German conglomerate United Steel Works, according to an Oct. 5, 1942, report from the federal Office of Alien Property Custodian. The Dutch bank and the steel firm were part of the business and financial empire of Thyssen and his brother, Heinrich Thyssen-Bornemisza, the report said. The 4,000 Union Banking shares owned by the Dutch bank were registered in the names of the seven U.S. directors, [including Prescott Bush and E. Roland Harriman, the bank chairman and brother of former New York Gov. W. Averell Harriman]. Both Harrimans and Bush were partners in the New York investment firm of Brown Brothers, Harriman and Co., which handled the financial transactions of the bank as well as other financial dealings with several other companies linked to Bank voor Handel.

Corporation Says It Will Run for Congress
2010-02-02, New York Times
http://economix.blogs.nytimes.com/2010/02/02/corporation-says-it-will-run-for...

Following the Supreme Court decision implicitly granting corporations the right to free speech (by determining that political spending is a kind of speech), a corporation has decided to take what it believes to be “democracy’s next step”: It is running for Congress. With more than a twinge of irony, Murray Hill Incorporated, a liberal public relations firm, recently announced that it planned to run in the Republican primary in Maryland’s 8th Congressional District.

Note: To watch the company’s first “campaign” ad, click on the link above.

Goldman Fueled AIG Gambles
2009-12-12, Wall Street Journal
http://online.wsj.com/article/SB10001424052748704201404574590453176996032.html

Goldman Sachs Group Inc. played a bigger role than has been publicly disclosed in fueling the mortgage bets that nearly felled American International Group Inc. Goldman was one of 16 banks paid off when the U.S. government last year spent billions closing out soured trades that AIG made with the financial firms. A Wall Street Journal analysis of AIG's trades, which were on pools of mortgage debt, shows that Goldman was a key player in many of them, even the ones involving other banks. Goldman originated or bought protection from AIG on about $33 billion of the $80 billion of U.S. mortgage assets that AIG insured during the housing boom. That is roughly twice as much as Société Générale and Merrill Lynch, the banks with the biggest exposure to AIG after Goldman. In Goldman's biggest deal, it acted as a middleman between AIG and banks, taking on the risk of as much as $14 billion of mortgage-related investments. Then Goldman insured that risk with one trading partner – AIG. When the federal government bailed out the insurer, Goldman avoided losses on its trades with AIG covering a total of $22 billion in assets.

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

Blackwater Guards Tied to Secret C.I.A. Raids
2009-12-11, New York Times
http://www.nytimes.com/2009/12/11/us/politics/11blackwater.html

Private security guards from Blackwater Worldwide participated in some of the C.I.A.’s most sensitive activities — clandestine raids with agency officers against people suspected of being insurgents in Iraq and Afghanistan and the transporting of detainees, according to former company employees and intelligence officials. The raids against suspects occurred on an almost nightly basis during the height of the Iraqi insurgency from 2004 to 2006, with Blackwater personnel playing central roles in what company insiders called “snatch and grab” operations. Several former Blackwater guards said that their involvement in the operations became so routine that the lines supposedly dividing the Central Intelligence Agency, the military and Blackwater became blurred. Instead of simply providing security for C.I.A. officers, they say, Blackwater personnel at times became partners in missions to capture or kill militants in Iraq and Afghanistan, a practice that raises questions about the use of guns for hire on the battlefield. The secret missions illuminate a far deeper relationship between the spy agency and the private security company than government officials had acknowledged. Blackwater’s ties to the C.I.A. have emerged in recent months, beginning with disclosures in The New York Times that the agency had hired the company as part of a program to assassinate leaders of Al Qaeda and to assist in the C.I.A.’s Predator drone program in Afghanistan and Pakistan.

Note: After this report was published, the CIA announced it had terminated contracts with Blackwater. The reality is that many of Blackwater's services are provided under classified contracts, with both the CIA and the Joint Special Operations Command, so the denial of "contracts" with Blackwater may be deceptive.

A Cloud Still Hangs Over Bhopal
2009-12-03, New York Times
http://www.nytimes.com/2009/12/03/opinion/03mehta.html

This is the 25th anniversary of the Bhopal gas disaster. [It] started one night when a pesticide plant owned by the American chemical giant Union Carbide leaked a cloud of poisonous gas. Before the sun rose, almost 4,000 human beings capable of love and anguish sank to their knees and did not get up. Half a million more fell ill, many with severely damaged lungs and eyes. An additional 15,000 people have since died from the aftereffects, and 10 to 30 people are said to die every month from exposure to the hundreds of tons of toxic waste left over in the former factory. But amazingly, the site still has not been cleaned up, because Dow Chemical, which since acquired Union Carbide, refuses to accept any responsibility. In 2001, the maker of napalm married the bane of Bhopal: Dow Chemical bought Union Carbide for $11.6 billion and promptly distanced itself from the disaster. Union Carbide and Dow were allowed to get away with it because of the international legal structures that protect multinationals from liability. Union Carbide sold its Indian subsidiary and pulled out of India. Warren Anderson, the Union Carbide chief executive at the time of the gas leak, lives in luxurious exile in the Hamptons, even though there’s an international arrest warrant out for him for culpable homicide. The Indian government has yet to pursue an extradition request. Imagine if an Indian chief executive had jumped bail for causing an industrial disaster that killed tens of thousands of Americans. What are the chances he’d be sunning himself in Goa?

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

Plastic chemicals 'feminise boys'
2009-11-16, BBC News
http://news.bbc.co.uk/2/hi/health/8361863.stm

Chemicals in plastics alter the brains of baby boys, making them "more feminine", say US researchers. Males exposed to high doses in the womb went on to be less likely to play with boys' toys like cars or to join in rough and tumble games, they found. The University of Rochester team's latest work adds to concerns about the safety of phthalates, found in vinyl flooring and PVC shower curtains. The findings are reported in the International Journal of Andrology. Phthalates have the ability to disrupt hormones, and have been banned in toys in the EU for some years. There are many different types and some mimic the female hormone oestrogen. The same researchers have already shown that this can mean boys are born with genital abnormalities. Now they say certain phthalates also impact on the developing brain, by knocking out the action of the male hormone testosterone. Dr Shanna Swan and her team ... found that two phthalates DEHP and DBP can affect play behaviour. Boys exposed to high levels of these in the womb were less likely than other boys to play with cars, trains and guns or engage in "rougher" games like playfighting. Elizabeth Salter-Green, director of the chemicals campaign group CHEM Trust, said the results were worrying. "We now know that phthalates, to which we are all constantly exposed, are extremely worrying from a health perspective, leading to disruption of male reproduction health and, it appears, male behaviour too."

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

Report: Blackwater Sent $1M Bribe to Iraq
2009-11-11, CBS News/Associated Press
http://www.cbsnews.com/stories/2009/11/11/national/main5611339.shtml

[Four] former top executives at Blackwater Worldwide say the U.S. security contractor sent about $1 million to its Iraq office with the intention of paying off officials in the country who were angry about the fatal shootings of 17 civilians by Blackwater employees. Iraqis had long complained about ground operations by the North Carolina-based company, now known as Xe Corp. Then the shooting by Blackwater guards in Baghdad's Nisoor Square in September 2007 left 17 civilians dead, further strained relations between Baghdad and Washington and led U.S. prosecutors to bring charges against the Blackwater contractors involved. The State Department has since turned to DynCorp and another private security firm, Triple Canopy, to handle diplomatic protective services in the country. But Xe continues to provide security for diplomats in other nations, most notably in Afghanistan. The former executives told the [New York Times] that the payments were approved by the company's then-president, Gary Jackson. They did not know if he came up with the idea. Any payments would have been illegal under the U.S. Foreign Corrupt Practices Act, which bans bribes to foreign officials. Two of the former executives said they were directly involved in discussions about paying Iraqi officials, and the other two said they were told about the discussions by others at Blackwater.

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

Questions for a Trade Official
2009-11-04, New York Times
http://www.nytimes.com/2009/11/04/opinion/04wed4.html

When Islam Siddiqui appears for his Senate confirmation, possibly as early as next week, it will be time for some tough questions. The White House has nominated Mr. Siddiqui for the position of chief agricultural negotiator in the office of the United States trade representative. He is presently a vice president at CropLife America, a coalition of the major industrial players in the pesticide industry, including Syngenta, Monsanto, Dow Chemical and DuPont. That job doesn't seem to square with the Obama administration's professed interest in more sustainable, less chemically dependent approaches to agriculture. Nor does much of the rest of Mr. Siddiqui's resum̩. The White House has touted his role in the first phase of developing national organic standards. But those standards, as they first emerged in draft form in the Clinton years, were notoriously loose about allowing genetically engineered crops and the use of sewage-sludge fertilizers to be labeled as "organic." But the business of [Siddiqui's] CropLife Рan arm of which openly scoffed at Michelle Obama's plans for an organic garden Рis to increase exports of agricultural chemicals.

Note: For a powerful overview of the risks of genetically modified food, click here.

Pakistan kept billions in US aid from military
2009-10-05, Boston Globe/Associated Press
http://www.boston.com/news/world/asia/articles/2009/10/05/pakistan_kept_billi...

The United States has long suspected that [many] of the billions of dollars it has sent Pakistan to battle militants has been diverted to the domestic economy and other causes, such as fighting India. Now the scope and longevity of the misuse is becoming clear: Between 2002 and 2008 ... only $500 million of the $6.6 billion in American aid actually made it to the Pakistani military, two army generals said. At the time of the siphoning, Pervez Musharraf, a Washington ally, served as chief of staff and president, making it easier to divert money intended for the military to bolster his image at home through economic subsidies. "The army itself got very little,'' said Mahmud Durrani, a retired general who was Pakistan's ambassador to the United States under Musharraf. "It went to things like subsidies, which is why everything looked hunky-dory." Generals and ministers say the diversion of the money hurt the military in several ways. Helicopters critical to the battle in rugged border regions were not available. At one point in 2007, more than 200 soldiers were trapped by insurgents in the tribal regions without a helicopter lift to rescue them. Equipment was broken, and training was lacking. The details on misuse of American aid come as Washington again promises Pakistan money. Legislation to triple general aid to Pakistan cleared Congress last week. "We don't have a mechanism for tracking the money after we have given it to them,'' said Lieutenant Colonel Mark Wright, a Pentagon spokesman.

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

Blackwater Tapped Foreigners on Secret CIA Program
2009-08-31, ABC News/Associated Press
http://abcnews.go.com/Politics/wireStory?id=8450594

When the CIA revived a plan to kill or capture [alleged] terrorists in 2004, the agency turned to the well-connected security company then known as Blackwater USA. With Blackwater's lucrative government security work and contacts arrayed in hot spots around the world, company officials offered the services of foreigners supposedly skilled at tracking [people] in lawless regions and countries where the CIA had no working relationships with the government. But the CIA's use of the private contractor as part of its now-abandoned plan to dispatch death squads skirted concerns now re-emerging with recent disclosures about Blackwater's role. Blackwater's later hiring of several senior CIA officials who were involved in or aware of the secret program, including one of the men who ran the operation, showed the blurred lines of using a private contractor for such a highly classified and dangerous project. The 2004 decision by CIA officials to entrust the North Carolina-based company with such a sensitive overseas operation struck some former agency officials as highly unusual. "The question remains: Why do we need Blackwater?" said Charles Faddis, a former department chief at the CIA's Counterterrorism Center who retired in 2008 and was not involved in the secret program. "I remain mystified. This is quintessential CIA work. You wonder what it means that the CIA has to rely on Blackwater? Why are we still funding the CIA?" The former senior CIA official who had knowledge of the program explained that "you wouldn't want to have American fingerprints on it."

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

World's Stocks Controlled by Select Few
2009-08-26, Inside Science News/American Institute of Physics
http://www.livescience.com/culture/090826-stock-market.html

A recent analysis of the 2007 financial markets of 48 countries has revealed that the world's finances are in the hands of just a few mutual funds, banks, and corporations. This is the first clear picture of the global concentration of financial power, and ... the worldwide financial system's vulnerability. A pair of physicists at the Swiss Federal Institute of Technology in Zurich did a physics-based analysis of the world economy as it looked in early 2007. Stefano Battiston and James Glattfelder extracted the information from the tangled yarn that links 24,877 stocks and 106,141 shareholding entities in 48 countries, revealing what they called the "backbone" of each country's financial market. The most pared-down backbones exist in Anglo-Saxon countries, including the U.S., Australia, and the U.K.. The biggest fish was the Capital Group Companies, with major stakes in 36 of the 48 countries studied. The results raise questions of where and when a company could choose to exert this influence. Glattfelder added that the internationalism of these powerful companies makes it difficult to gauge their economic influence. "[With] company structures which are so big and spanning the globe, it's hard to see what they're up to and what they're doing,” he said. Large, sparse networks dominated by a few major companies could also be more vulnerable, he said. "In network speak, if those nodes fail, that has a big effect on the network." The results will be published in an upcoming issue of the journal Physical Review E.

Note: For a treasure trove of revelations about the realities of the global financial structure, click here.

Swine flu doses on way to Wales
2009-07-13, BBC News
http://news.bbc.co.uk/2/hi/uk_news/wales/wales_politics/8148345.stm

Enough doses of swine flu vaccines for everyone in Wales should begin arriving in the next few weeks. Latest figures show 64 confirmed Welsh cases, but new counting methods mean up to 1m people in Wales could be diagnosed with the illness long term. Up to six million doses would become available, with two per person, and those most at risk would be first in line to receive a jab. Experts will carry out tests and work out how to administer the vaccine. Wales' chief medical officer Dr Tony Jewell said it would be a huge logistical exercise. Dr Jewell said the vaccine would reduce the impact of a second phase of swine flu. "It will put us in a good position to modify it. It is an unprecedented situation," he said. So far 64 cases of swine flu in Wales have been confirmed by laboratory testing. Latest figures across Wales reveal that 426 people have gone to their local doctor in the past week with flu-like symptoms. Three were admitted to hospital over the last few days. Health officials said for every 100,000 people there have been 14.2 cases of flu-like illnesses. But Wales is behind other parts of the UK for infection rates. In Scotland the rate is 23.6 cases, while in England it is 51.9 cases. Seven people in Wales with swine flu had to be hospitalised but five have since been discharged. 17 people in the UK have died - all but one of them had underlying health problems. Experts say that for most people the illness is mild and gets better within five to seven days.

Note: 426 people had flu-like symptoms? Couldn't that be the normal flu? And all but one of the 17 who died had underlying health problems. Hmmmm. So why are they preparing six million vaccine doses? Could there be lots of money to be made here? A Wall Street Journal article states that $1 billion of our tax dollars have already been set aside with $7.5 billion more on the way. For more reliable information on manipulations involving swine flu, click here and here.

Weed-Whacking Herbicide Proves Deadly to Human Cells
2009-06-23, Scientific American
http://www.scientificamerican.com/article.cfm?id=weed-whacking-herbicide-p

Used in yards, farms and parks throughout the world, Roundup has long been a top-selling weed killer. But now researchers have found that one of Roundup’s inert ingredients can kill human cells, particularly embryonic, placental and umbilical cord cells. The new findings intensify a debate about so-called “inerts” – the solvents, preservatives, surfactants and other substances that manufacturers add to pesticides. Nearly 4,000 inert ingredients are approved for use by the U.S. Environmental Protection Agency. Glyphosate, Roundup’s active ingredient, is the most widely used herbicide in the United States. About 100 million pounds are applied to U.S. farms and lawns every year, according to the EPA. Until now, most health studies have focused on the safety of glyphosate, rather than the mixture of ingredients found in Roundup. But in the new study, scientists found that Roundup’s inert ingredients amplified the toxic effect on human cells – even at concentrations much more diluted than those used on farms and lawns. One specific inert ingredient, polyethoxylated tallowamine, or POEA, was more deadly to human embryonic, placental and umbilical cord cells than the herbicide itself –- a finding the researchers call “astonishing.” “This clearly confirms that the [inert ingredients] in Roundup formulations are not inert,” wrote the study authors from France’s University of Caen. “Moreover, the proprietary mixtures available on the market could cause cell damage and even death [at the] residual levels” found on Roundup-treated crops, such as soybeans, alfalfa and corn, or lawns and gardens.

Note: Monsanto, Roundup’s manufacturer, is the same company that has been using a corrupt judicial system to bankrupt farmers who won't use their seeds. For more on this important topic, click here.

Lawmakers Reveal Health-Care Investments
2009-06-13, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/06/12/AR20090612040...

Almost 30 key lawmakers helping draft landmark health-care legislation have financial holdings in the industry, totaling nearly $11 million worth of personal investments in a sector that could be dramatically reshaped by this summer's debate. The list of members who have personal investments in the corporations that will be affected by the legislation -- which President Obama has called this year's highest domestic priority -- includes Congress's most powerful leaders and a bipartisan collection of lawmakers in key committee posts. Their total health-care holdings could be worth $27 million, because congressional financial disclosure forms released yesterday require reporting of only broad ranges of holdings rather than precise values of assets. Senate Majority Leader Harry M. Reid (D-Nev.), for instance, has at least $50,000 invested in a health-care index, and Sen. Judd Gregg (R-N.H.), a senior member of the health committee, has between $254,000 and $560,000 worth of stock holdings in major health-care companies, including Bristol-Myers Squibb and Merck. The family of Rep. Jane Harman (D-Calif.), a senior member of the House Energy and Commerce Committee drafting that chamber's legislation, held at least $3.2 million in more than 20 health-care companies at the end of last year. "If someone is going to be substantially enriched by the consequences of the vote, particularly if it represents a meaningful amount of their net worth, then there is a problem," said Harlan Krumholz, a professor of medicine at Yale University.

Note: For more powerful information on major corruption in health care reform, click here. For lots more on government corruption from reliable, verfiiable sources, click here.

Chrysler rejects new loan over exec pay limits
2009-04-21, CNN
http://www.cnn.com/2009/BUSINESS/04/21/chrysler.loan/

Chrysler turned down additional government funding this month because executives at the troubled auto manufacturer could not agree to new government-mandated limits on executive pay, according to a source familiar with the matter. An official with Chrysler Financial told CNN that the loan was turned down because the company "has determined that it has adequate private capital funding to cover the short-term needs of our dealers and customers and as such, no additional TARP funding is necessary at this time." The official also said that company executives "have not been presented with any new demands with regard to executive compensation." Chrysler already borrowed $1.5 billion from the Treasury under the Troubled Asset Relief Program, or TARP, but those loans were made under less strict regulations pertaining to executive compensation. The Washington Post, which first reported the story online Monday, said the amount of the loan Chrysler rejected was $750 million. A Treasury department spokesman declined to confirm the loan rejection, but told CNN that the administration's Auto Task Force continues to monitor the financing situations for Chrysler and General Motors. "This is an issue that Chrysler and its stakeholders will need to address as part of this process," the spokesman said.

Note: The reason many banks are giving back government loans is very likely also because of executive pay limits. The limits were reported in a NY Times article on Feb. 14, 2009. Not long after came the first news that banks were considering returning the bailout money. Do you think these top execs are more interested in their own paychecks or the health of the company? For a highly revealing archive of reports on the hidden realities underlying the Wall Street bailout, click here.

The G20 moves the world a step closer to a global currency
2009-04-03, The Telegraph (One of the U.K.'s leading newspapers)
http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/5096524/The...

The world is a step closer to a global currency, backed by a global central bank, running monetary policy for all humanity. A single clause in Point 19 of the communiqué issued by the G20 leaders amounts to revolution in the global financial order. "We have agreed to support a general SDR allocation which will inject $250bn (£170bn) into the world economy and increase global liquidity," it said. SDRs are Special Drawing Rights, a synthetic paper currency issued by the International Monetary Fund that has lain dormant for half a century.In effect, the G20 leaders have activated the IMF's power to create money and begin global "quantitative easing". In doing so, they are putting a de facto world currency into play. It is outside the control of any sovereign body. Conspiracy theorists will love it. There is now a world currency in waiting. In time, SDRs are likely evolve into a parking place for the foreign holdings of central banks, led by the People's Bank of China. Beijing's moves this week to offer $95bn in yuan currency swaps to developing economies show how fast China aims to break dollar dependence.

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

Banks Get New Leeway in Valuing Their Assets
2009-04-03, New York Times
http://www.nytimes.com/2009/04/03/business/03fasb.html?partner=rss&emc=rss&pa...

A once-obscure accounting rule that infuriated banks ... was changed Thursday to give banks more discretion in reporting the value of mortgage securities. The change seems likely to allow banks to report higher profits by assuming that the securities are worth more than anyone is now willing to pay for them. But critics objected that the change could further damage the credibility of financial institutions by enabling them to avoid recognizing losses from bad loans they have made. Critics also said that since the rules were changed under heavy political pressure, the move compromised the independence of the organization that did it, the Financial Accounting Standards Board. During the financial crisis, the market prices of many securities, particularly those backed by subprime home mortgages, have plunged to fractions of their original prices. That has forced banks to report hundreds of billions of dollars in losses over the last year, because some of those securities must be reported at market value each three months, with the bank showing a profit or loss based on the change. At first FASB ... resisted making changes, but that changed within a few days of a Congressional hearing at which legislators from both parties demanded the board act. “There is a perception that we are yielding to political pressure,” one board member, Lawrence W. Smith, said as he voted for the changes. A group headed by two former chairmen of the Securities and Exchange Commission, one who served under President Bill Clinton and one who was appointed by President George W. Bush, said that it feared that politicization of accounting standards would destroy the credibility of the board.

Note: For many revealing reports on the realities behind the Wall Street bailouts, click here.

AIG - the biggest shark of all
2009-03-19, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/03/18/ED0316IQ82.DTL

There must be a criminal investigation of the AIG debacle, and it looks as if New York's top lawman is on the case. The collusion to save this toxic company in order to salvage the rogue financiers who conspired to enrich themselves by impoverishing millions is being revealed as the greatest financial scandal in U.S. history. Instead of taking bonuses, the culprits should be taking perp walks. The real culprits are the AIG leaders who, as New York Attorney General Andrew Cuomo revealed Tuesday, signed those bonus contracts a year ago to reward the very people "principally responsible for the firm's meltdown." As Cuomo noted in a letter to Rep. Barney Frank: "The contracts shockingly contain a provision that required most individuals' bonuses to be 100 percent of their 2007 bonuses. Eleven of the individuals who received 'retention' bonuses of $1 million or more are no longer working at AIG, including one who received $4.6 million." But the $165 million in taxpayer funds used to reward them is but a sideshow in a far larger drama of moral decay swirling around the banking bailout. It should not distract from the many billions, not paltry millions, of our dollars being diverted to reward the very folks who brought us such misery. Consider the $12.8 billion of the $170 billion that taxpayers gave AIG in bailout funds that AIG then secretly diverted to Goldman Sachs, a company that evidently has a lock on both the Treasury Department and the Federal Reserve no matter which political party is in power.

Note: For an excellent analysis of "the real AIG conspiracy", click here. For lots more on the hidden realities of the Wall Street bailout, click here.

Spitzer Takes Aim at ‘Real Disgrace’ at A.I.G.
2009-03-17, New York Times blog
http://dealbook.blogs.nytimes.com/2009/03/17/spitzer-takes-aim-at-real-disgra...

Eliot Spitzer must miss his glory days when he was the scourge of Wall Street as New York’s attorney general. With the bonus battle exploding at the American International Group, Mr. Spitzer has jumped into the fray — and dismissed the bonus scandal, arguing that it is obscuring the “real disgrace” at A.I.G. “Why are A.I.G.’s counterparties getting paid back in full, to the tune of tens of billions of taxpayer dollars?” he asks in an article on Slate. Mr. Spitzer notes that A.I.G.’s trading parties were all the big banks including Goldman Sachs, many of which received billions of dollars from the government’s Troubled Asset Relief Program. “So now we know for sure what we already surmised: The A.I.G. bailout has been a way to hide an enormous second round of cash to the same group that had received TARP money already,” he writes. “It all appears, once again, to be the same insiders protecting themselves against sharing the pain and risk of their own bad adventure,” Mr. Spitzer writes. Recounting how the economic crisis is affecting workers, with tax increases, pay cuts and layoffs, Mr. Spitzer asks: “Why can’t Wall Street royalty shoulder some of the burden? Why did Goldman have to get back 100 cents on the dollar? Didn’t we already give Goldman a $25 billion capital infusion, and aren’t they sitting on more than $100 billion in cash? What is the deeper relationship between Goldman and A.I.G.?”

Note: For the article written in 2008 by former NY Governor Spitzer which likely caused him to be targeted for a takedown just weeks later, click here. For lots more on the hidden realities of the Wall Street bailout, click here.

Curtailing executives' pay? Good luck with that
2009-02-05, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/05/BUHF15NF2U.DTL

Will President Obama's new plan to rein in executive compensation at companies receiving taxpayer money be more successful than previous attempts? Not if history is any guide. Since at least 1984, Congress and accounting authorities have enacted measures designed in whole or part to stem runaway pay. Yet compensation for top executives has continued to climb in both dollar terms and as a multiple of average worker pay. In 1992, the average chief executive earned $5 million, or 126 times the average hourly worker. By 2007, the average CEO was earning $12.3 million, or 275 times the average worker. No matter what Congress cooks up, it seems like executives, companies and their consultants find a way over, under or through the rules. "It's like putting up a dam for a river. The water tries very hard to find a way around it," says John Olson, a partner with Gibson Dunn & Crutcher who advises corporate boards on compensation and other matters. Obama's plan will apply only to companies taking bailout money in the future and has escape hatches of its own. "You can try all these different reforms," [says Corey Rosen, executive director of the National Center for Employee Ownership,] but none will be truly effective "unless the board of directors, the media and public stop thinking of executives as superstars and that if we just get the right CEO, everything will be OK."

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

U.N. crime chief says drug money flowed into banks
2009-01-25, International Herald Tribune/Reuters News
http://www.iht.com/articles/reuters/2009/01/25/europe/OUKWD-UK-FINANCIAL-UN-D...

The United Nations' crime and drug watchdog has indications that money made in illicit drug trade has been used to keep banks afloat in the global financial crisis, its head was quoted as saying on Sunday. Vienna-based UNODC Executive Director Antonio Maria Costa said in an interview released by Austrian weekly Profil that drug money often became the only available capital when the crisis spiralled out of control last year. "In many instances, drug money is currently the only liquid investment capital," Costa was quoted as saying by Profil. "In the second half of 2008, liquidity was the banking system's main problem and hence liquid capital became an important factor." The United Nations Office on Drugs and Crime had found evidence that "interbank loans were funded by money that originated from drug trade and other illegal activities," Costa was quoted as saying. There were "signs that some banks were rescued in that way." Profil said Costa declined to identify countries or banks which may have received drug money and gave no indication how much cash might be involved.

Note:. For powerful evidence that corporations and even rogue elements of government are involved in the huge amounts of cash generated in the drug trade, click here. For lots more on corporate corruption, click here.

Oil market manipulation alleged
2009-01-10, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/01/10/BUIC156VSD.DTL

Accusations that a big oil company is trying to manipulate California's gasoline market are swirling around a Bakersfield refinery whose owner filed for bankruptcy late last month. Flying J, owner of the Big West refinery, filed for Chapter 11 protection on Dec. 22 and reported that it was closing the plant for maintenance. But a memo written Thursday by a union official at the plant said "the refinery is out of Crude oil" and blamed Shell Oil for closing a pipeline that brings crude into the plant, effectively starving it of raw material. Shell used to own the refinery and threatened to close it in 2004, saying it wasn't profitable. California politicians, however, suspected Shell was trying to reduce the state's gasoline supplies to drive up the price, and they pressured Shell to sell the plant instead. Those suspicions resurfaced Friday, with Sen. Barbara Boxer asking California Attorney General Jerry Brown to investigate the union memo's accusations. "The Big West Refinery supplies our state with 2 percent of its gasoline and 6 percent of its diesel fuel, and in these tough economic times, Californians can't afford high gas prices stemming from refinery closures," Boxer, D-Calif., wrote in a letter to Brown, who said he would "take a hard look at the situation." With the refinery closed, Shell has had to scramble to find other sources of gasoline for Shell gas stations in the Bakersfield area.

U.S. Debt Expected To Soar This Year
2009-01-03, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/01/02/AR20090102023...

With President-elect Barack Obama and congressional Democrats considering a massive spending package aimed at pulling the nation out of recession, the national debt is projected to jump by as much as $2 trillion this year, an unprecedented increase that could test the world's appetite for financing U.S. government spending. For now, investors are frantically stuffing money into the relative safety of the U.S. Treasury, which has come to serve as the world's mattress in troubled times. Interest rates on Treasury bills have plummeted to historic lows, with some short-term investors literally giving the government money for free. But about 40 percent of the debt held by private investors will mature in a year or less, according to Treasury officials. When those loans come due, the Treasury will have to borrow more money to repay them, even as it launches perhaps the most aggressive expansion of U.S. debt in modern history. With the government planning to roll over its short-term loans into more stable, long-term securities, experts say investors are likely to demand a greater return on their money, saddling taxpayers with huge new interest payments for years to come. Some analysts also worry that foreign investors, the largest U.S. creditors, may prove unable to absorb the skyrocketing debt, undermining confidence in the United States as the bedrock of the global financial system.

Note: For many revealing reports on the realities of the Wall Street bailout and its impacts on the national debt, click here.

UAW busting, Southern style
2008-12-18, Los Angeles Times
http://www.latimes.com/news/opinion/commentary/la-oe-raynor18-2008dec18,0,406...

The foreign nonunion auto companies located in the South have a plan to reduce wages and benefits at their factories in the United States. And to do it, they need to destroy the United Auto Workers. Last week, Senate Republicans from some Southern states went to work trying to do just that, on the foreign car companies' behalf. [Republican] representatives from states that subsidize companies such as Honda, Volkswagen, Toyota and Nissan first tried to force the UAW to take reductions in wages and benefits as a condition for supporting the auto industry bailout bill. When the UAW refused, those senators torpedoed the bill. They claimed that they couldn't support the bill without specifics about how wages would be "restructured." They didn't, however, require such specificity when it came to bailing out the financial sector. Their grandstanding, and the government's generally lackluster response to the auto crisis, highlight many of the problems that have caused our current economic mess: the lack of concern about manufacturing, the privileged way our government treats the financial sector, and political support given to companies that attempt to slash worker's wages. When one compares how the auto industry and the financial sector are being treated by Congress, the double standard is staggering. At Goldman Sachs ... employee compensation made up 71% of total operating expenses in 2007. In the auto industry, by contrast, autoworker compensation makes up less than 10% of the cost of manufacturing a car. Hundreds of billions were given to the financial-services industry with barely a question about compensation; the auto bailout, however, was sunk on this issue alone.

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

UCSF says reports on drug trials skew positive
2008-12-15, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/12/14/MNKF14GTLO.DTL

What are the pills in your medicine cabinet, and how do you know they're best for you? When drug companies seek approval to market new medicines, they must show the U.S. Food and Drug Administration the results of all the tests they've run on volunteer patients - at first on only a few, then on dozens, and finally on hundreds or sometimes thousands. After winning approval, the companies typically sponsor reports of those tests in medical journal publications, which many doctors often rely on to determine whether to prescribe new drugs for their patients. Now a skeptical team of medical investigators at UCSF has accused the major drug companies of bias by distorting the results of their trials in those publications, making it hard for doctors to judge for themselves the pros and cons of prescribing the new drugs. As a result, the researchers say, patients may sometimes be taking medicines they don't need - or with unwanted side effects - that their doctors have prescribed on the basis of inadequate information. The UCSF team, led by Lisa A. Bero of the medical center's Institute for Health Policy Studies, probed the details of 164 drug trials involving as many as 1,500 patients over a two-year period and then examined reports on those trials that were published in medical journals, as well as those that remained unpublished. "We found really important information from the official trial reports that were either not published at all or that stressed mostly the positive results of trials in the published versions," said Kristin Rising, a physician at the institute who did the major investigation.

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

Jim Rogers calls most big U.S. banks "bankrupt"
2008-12-11, Reuters News
http://www.reuters.com/article/InvestmentOutlook09/idUSTRE4BA5CO20081211

Jim Rogers, one of the world's most prominent international investors, ... called most of the largest U.S. banks "totally bankrupt," and said government efforts to fix the sector are wrongheaded. Co-founder with George Soros of the Quantum Fund, [Rogers] said the government's $700 billion rescue package for the sector doesn't address how banks manage their balance sheets, and instead rewards weaker lenders with new capital. "Without giving specific names, most of the significant American banks, the larger banks, are bankrupt, totally bankrupt," said Rogers. "What is outrageous economically and is outrageous morally is that normally in times like this, people who are competent and who saw it coming and who kept their powder dry go and take over the assets from the incompetent," he said. "What's happening this time is that the government is taking the assets from the competent people and giving them to the incompetent people and saying, now you can compete with the competent people. It is horrible economics." While not saying how long the U.S. economic recession will last, he said conditions could ultimately mirror those of Japan in the 1990s. "The way things are going, we're going to have a lost decade too, just like the 1970s," he said. "Governments are making mistakes," he said. "They're saying to all the banks, you don't have to tell us your situation. You can continue to use your balance sheet that is phony.... All these guys are bankrupt, they're still worrying about their bonuses, they're still trying to pay their dividends, and the whole system is weakened."

Note: For a treasure trove of reliable reports exposing the realities of the Wall Street bailout, click here.

Ditch the smooth transition. The people voted for change
2008-11-14, The Guardian (One of the U.K.'s leading newspapers)
http://www.guardian.co.uk/commentisfree/2008/nov/14/obama-white-house-wall-st...

The more details emerge, the clearer it becomes that Washington's handling of the Wall Street bail-out is not merely incompetent: it is borderline criminal. In a moment of high panic in September, the US treasury pushed through a radical change in how bank mergers are taxed - a change long sought by the industry. Despite the fact that this move will deprive the government of as much as $140bn in tax revenue, legislators found out only after the fact. According to the Washington Post, more than a dozen tax attorneys agree that "[the] treasury had no authority to issue the [tax change] notice". Of equally dubious legality are the equity deals the treasury has negotiated with many of the banks. According to Congressman Barney Frank, one of the architects of the legislation that enables the deals: "Any use of these funds for any purpose other than lending - for bonuses, for severance pay, for dividends, for acquisitions of other institutions ... is a violation of the act." Yet this is exactly how the funds are being used. Then there is the nearly $2 trillion that America's central bank, the Federal Reserve, has handed out in emergency loans. Incredibly, the Fed will not reveal which corporations have received these loans or what it has accepted as collateral. Bloomberg news service believes this secrecy violates the law and has filed a federal suit demanding full disclosure. Yet the Democrats are either openly defending the administration or refusing to intervene. Obama owes it to the people who elected him to call this what it is: an attempt to undermine the electoral process by stealth.

Note: For many key articles revealing the hidden realities of the bailout, click here.

Illinois sheriff scolds banks for evictions of 'innocent' renters
2008-10-09, CNN
http://www.cnn.com/2008/US/10/08/chicago.evictions/index.html

An outraged sheriff in Illinois who refuses to evict ... renters from foreclosed homes criticized mortgage companies ... and said the law should protect victims of the mortgage meltdown. Sheriff Thomas J. Dart said earlier he is suspending foreclosure evictions in Cook County, which includes the city of Chicago. The county had been on track to reach a record number of evictions, many because of mortgage foreclosures. "Many good tenants are suffering because building owners have fallen behind on their mortgage payments," he said Thursday on CNN's "American Morning." "These poor people are seeing everything they own put out on the street. ... They've paid their bills, paid them on time. Here we are with a battering ram at the front door going to throw them out. It's gotten insane," he said. Mortgage companies are supposed to identify a building's occupants before asking for an eviction, but sheriff's deputies routinely find that the mortgage companies have not done so, Dart said. "This is an example where the banking industry has not done any of the work they should do. It's a piece of paper to them," Dart said. "These mortgage companies ... don't care who's in the building," Dart said. "They simply want their money and don't care who gets hurt along the way. "On top of it all, they want taxpayers to fund their investigative work for them. We're not going to do their jobs for them anymore. We're just not going to evict innocent tenants. It stops today. When you're blindly sending me out to houses where I'm coming across innocent tenant after innocent tenant, I can't keep doing this and have a good conscience about it."

Note: For many reports of corporate corruption from reliable sources, click here.

Bailout tests how much the American public will tolerate theft
2008-09-23, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/09/23/ED0J132MOV.DTL

Treasury Secretary Paulson's edict to create a $700 billion fund to buy worthless mortgage securities from agitated wealthy bond investors is nothing short of a final step on the path to the end of the republic. The secretary claims he can only be effective if his decisions are beyond judicial review. Our government and its owners appear to be testing how much the American public will tolerate. A few years ago, no one could have imagined that the silent majority would quietly accept thefts of this magnitude from a government that stopped tiny payments to single mothers with poor children in the name of welfare reform because the program's $10 billion cost was breaking the federal budget. If the public allows this theft, then it will signal to powerful forces that they can essentially do anything, because the American public has become so mushy-headed that it will stand up for nothing. When power discovers that those from whom it would exact payment are powerless, its viciousness increases infinitely. Our enemy has revealed itself, and it is our own government. Because the American public has not been introduced to methods for controlling its government for generations, I will suggest one called a general strike. This fundamental democratic power is where everyone decides to send a message to the government by not going to work, to school, shopping, nowhere. This is the critical time when charlatans among us will promise they can save us from the inevitable if we only allow them the power they need to save us. They are lying.

Note: This article's author Sean Olender is an attorney in San Mateo, California. Mr. Oleander predicted the bailout of Fannie Mae and Freddie Mac months before it happened based on clearly disempowering moves by the government. To see his prescient article on this from Feb. 2008, click here.

Almost Armageddon: Markets were 500 Trades from a Meltdown
2008-09-21, New York Post
http://www.nypost.com/seven/09212008/business/almost_armageddon_130110.htm

The market was 500 trades away from Armageddon on Thursday [September 18], traders inside two large custodial banks tell The Post. Had the Treasury and Fed not quickly stepped into the fray that morning with a quick $105 billion injection of liquidity, the Dow could have collapsed. According to traders, who spoke on the condition of anonymity, money market funds were inundated with $500 billion in sell orders prior to the opening. The Fed's dramatic $105 billion liquidity injection on Thursday (pre-market) was just enough to keep key institutional accounts from following through on the sell orders and starting a stampede of cash that could have brought large tracts of the US economy to a halt. Cracks started to show in money market accounts late Tuesday when shares in one fund, the Reserve Primary Fund - which touted itself as super safe - fell below the golden $1 a share level. By Wednesday, banks sensed a run on their accounts. They started stockpiling cash in anticipation of withdrawals. Banks, which usually keep an average of $2 billion in excess reserves earmarked for withdrawals, pumped that up to an astounding $90 billion, Lou Crandall, chief economist at Wrighton ICAP, told The [Wall Street] Journal. And for good reason. By the close of business on Wednesday, $144.5 billion - a record - had been withdrawn. How much money was taken out of money market funds the prior week? Roughly $7.1 billion, according to AMG Data Services. By Thursday, that level ... had grown to $100 billion.

Note: For insight into the banking and financial powers that runs today's governments, click here.

Britain's worst polluters set for windfall of millions
2008-09-12, The Guardian (One of the U.K.'s leading newspapers)
http://www.guardian.co.uk/environment/2008/sep/12/emissionstrading

A flagship European scheme designed to fight global warming is set to hand hundreds of millions of pounds to some of Britain's most polluting companies, with little or no benefit to the environment. Dozens of multinational firms stand to benefit from the windfall, which comes from the over-allocation of carbon permits under the European emissions trading scheme. The permits are given to companies by the government, and are supposed to account for their carbon pollution over the next five years. But figures published by the European Commission show that many companies have been allocated far too many permits, which they can sell for cash. The scheme is supposed to only distribute as many permits as companies require, with one permit allocated for each tonne of CO2 produced. The figures ... suggest that up to 9m extra annual permits have been allocated to 200 companies across almost all sectors of the British economy, from steel and cement making, to car manufacturing and the food and drink industry. Dozens of household names such as Ford, Thames Water, Astra Zeneca and Vauxhall are among the companies that could benefit. Campaigners say the allocations were ... influenced by industry group lobbying. A source at a major UK car manufacturing firm, which has been allocated more than double the number of permits it needs, told the Guardian they were given out based on "magical logic".

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

Politicians fume as Exxon profits soar to U.S. record
2008-07-31, Houston Chronicle
http://www.chron.com/disp/story.mpl/nation/5918750.html

Exxon Mobil Corp. jumped into the political fray Thursday as its $11.7 billion record quarterly earnings — and $8 billion in share buybacks — raised hackles in Washington. "They tell us they want to do more domestic production," said Sen. Charles Schumer, D-N.Y. "They tell us they need to drill offshore. They tell us that they can find oil on the mainland. And what do they do with their profits? They buy back stock, simply to increase their share price." Democrats argue that producers already hold 68 million acres of federal lands on which they are not producing oil or gas. Irving-based Exxon Mobil, the world's largest oil company, was the fourth major oil giant to release quarterly results. Hours earlier, Royal Dutch Shell, based in the Netherlands, announced a 33 percent increase in profit. Houston-based ConocoPhillips last week announced a 13 percent increase in net income during a quarter in which oil prices rose from about $100 to $140 a barrel. London-based BP announced a 28 percent profit increase on Tuesday. Analysts ... focused less on Exxon Mobil's profits than on its 8 percent drop in production. The world's largest oil companies ... are benefiting from record-high oil prices. Exxon Mobil increased spending on capital and exploration projects by 38 percent in the quarter to $7 billion. It also spent $8 billion buying back its own shares and reported $39 billion in cash on hand. A Democratic analysis of the top five oil company's expenditures from 2004 through 2007 found that the majors plowed about $181 billion into stock buybacks, nearly three times as much as they spent on U.S. production activity.

Psychiatric Group Faces Scrutiny Over Drug Industry Ties
2008-07-12, New York Times
http://www.nytimes.com/2008/07/12/washington/12psych.html?partner=rssuserland...

It seemed an ideal marriage, a scientific partnership that would attack mental illness from all sides. Psychiatrists would bring ... their expertise and clinical experience, drug makers would provide their products and the money to run rigorous studies, and patients would get better medications, faster. But now the profession itself is under attack in Congress, accused of allowing this relationship to become too cozy. After a series of stinging investigations of individual doctors’ arrangements with drug makers, Senator Charles E. Grassley, Republican of Iowa, is demanding that the American Psychiatric Association, the field’s premier professional organization, give an accounting of its financing. "I have come to understand that money from the pharmaceutical industry can shape the practices of nonprofit organizations that purport to be independent in their viewpoints and actions," Mr. Grassley said. In 2006 ... the drug industry accounted for about 30 percent of the association’s $62.5 million in financing. One of the doctors named by Mr. Grassley is the association’s president-elect, Dr. Alan F. Schatzberg of Stanford, whose $4.8 million stock holdings in a drug development company raised the senator’s concern. Commercial arrangements are rampant throughout medicine. In the past two decades, drug and device makers have paid tens of thousands of doctors and researchers of all specialties. Worried that this money could taint doctors’ research plans or clinical judgment, government agencies, medical journals and universities have been forced to look more closely at deal details.

Note: For many powerful reports of corporate corruption, click here.

Taser Suffers a Rare Loss in Court
2008-06-10, New York Times blog
http://thelede.blogs.nytimes.com/2008/06/10/taser-suffers-a-rare-loss-in-court/

Despite a steady stream of negative news coverage, Taser International’s business has sailed above it all, rolling with the punches before coming out on top of a growing industry. Perhaps most importantly, the company has been remarkably successful inside the courtroom. With 69 straight trial victories, according to one count, Taser had assembled a nearly unmatchable record — 3 more wins than this year’s much-vaunted Boston Celtics, with none of the embarrassing losses. None until [Friday, June 4], that is, when an unfavorable verdict represented the first chink in the taser-proof body armor. From The Herald of Monterey County, Calif., the local paper on the case: A federal jury has held Taser International responsible for the death of a Salinas man in U.S. District Court in San Jose ... and awarded his family more than $6 million in punitive and compensatory damages. An attorney for the family called the verdict a "landmark decision," and indicated that it was the first time Taser International had been held responsible for a death or injury linked to its product. During trading on Monday, the company’s stock dropped almost 12 percent. "Investors will assume heightened operating risk in the Taser model in the short-term," one analyst told Barron’s. Bloomberg News reported last month that more than half of Taser’s top 10 shareholders sold some of their shares this year.

Note: Do a search in Google News and you will find that no major media outlets reported that Taser International had 69 straight victories with no losses in the courts till now. Even the above was in a NY Times blog and not in the paper. How interesting that they don't seem to want us to know this.

Rescue Me: A Fed Bailout Crosses a Line
2008-03-16, New York Times
http://www.nytimes.com/2008/03/16/business/16gret.html?ex=1363320000&en=04d1c...

What are the consequences of a world in which regulators rescue even the financial institutions whose recklessness and greed helped create the titanic credit mess we are in? Will the consequences be an even weaker currency, rampant inflation, a continuation of the slow bleed that we have witnessed at banks and brokerage firms for the past year? Or all of the above? Stick around, because we’ll soon find out. And it’s not going to be pretty. Agreeing to guarantee a 28-day credit line to Bear Stearns, by way of JPMorgan Chase, the Federal Reserve Bank of New York conceded last Friday that no sizable firm with a book of mortgage securities or loans out to mortgage issuers could be allowed to fail right now. It was the most explicit sign yet of the Fed’s “Rescues ‘R’ Us” doctrine that already helped to force the marriage of Bank of America and Countrywide. But why save Bear Stearns? “Why not set an example of Bear Stearns, the guys who have this record of dog-eat-dog, we’re brass knuckles, we’re tough?” asked William A. Fleckenstein, president of Fleckenstein Capital in Issaquah, Wash., and co-author with Fred Sheehan of Greenspan’s Bubbles: The Age of Ignorance at the Federal Reserve. After years of never allowing any of our financial institutions to fail, they have become so enormous that nobody will be allowed to sink beneath the waves. Otherwise, a tsunami would swamp the hedge funds, banks and other brokerage firms that remain afloat. If Bear Stearns failed, for example, it would result in a wholesale dumping of mortgage securities and other assets onto a market that is frozen and where buyers are in hiding. This fire sale would force surviving institutions carrying the same types of securities on their books to mark down their positions, generating more margin calls and creating more failures.

Note: This excellent article should be read in its entirety by anyone who wants to understand the impending financial meltdown and the government's response to it.

Lawmakers blast USDA for food inspection lapses
2008-02-19, San Francisco Chronicle/Associated Press
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/02/19/MN17V4MU9.DTL

Lawmakers and watchdog groups had harsh words Monday for the U.S. Department of Agriculture after the agency ordered a recall of 143 million pounds of beef from a Southern California slaughterhouse. Beef products dating to Feb. 1, 2006, that came from Westland/Hallmark Meat Co. of Chino (San Bernardino County) are subject to the recall, which is the largest such action in U.S. history. The notice came after the Humane Society of the United States shot undercover video showing crippled and sick animals being shoved with forklifts - treatment that has also triggered an animal-abuse investigation. A congresswoman who chairs a House subcommittee that determines funding levels for the USDA sent a letter ... to the agency's undersecretary for food safety demanding an explanation of the Westland case before a March 5 budgetary review hearing. Rep. Rosa DeLauro, D-Conn., chairwoman of the House Agriculture, Food and Drug Administration Appropriations Subcommittee, called the scenes in the video inhumane and said the video "demonstrates just how far our food safety system has collapsed." DeLauro has called for an investigation into the government's ability to secure the safety of meat in the nation's schools. Westland was a major supplier of beef for the National School Lunch Program. She also asked how the agency is addressing staff shortages among slaughterhouse inspectors - an issue also raised by several food safety experts and watchdog groups. According to Felicia Nestor, a senior policy analyst with Food and Water Watch, a consumer advocacy group based in Washington, anywhere from 7 to 21 percent of slaughterhouse inspector positions have been left vacant by the USDA, depending on the district. "They just don't fill vacancies," Nestor said.

Note: For many revealing articles from reliable sources on government corruption, click here.

Military Contractors Are Hard to Fire
2008-02-02, San Francisco Chronicle/Associated Press
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/02/02/national/w003206S...

Contract personnel working for the Defense Department now outnumber U.S. forces in Iraq and Afghanistan; there are 196,000 private-sector workers in both countries compared to 182,000 troops. Contractors are responsible for a slew of duties, including repairing warfighting equipment, supplying food and water, building barracks, providing armed security and gathering intelligence. The dependence has come with serious consequences. A shortage of experienced federal employees to oversee this growing industrial army is blamed for much of the waste, fraud and abuse on contracts collectively worth billions of dollars. "We do not have the contracting personnel that we need to guarantee that the taxpayer dollar is being protected," said William Moser, the State Department's deputy assistant secretary for logistics management. "We are very, very concerned about the integrity [of] the contracting process. We don't feel like ... we can continue in the same situation." The office of the Special Inspector General for Iraq Reconstruction has 52 open cases related to bribery, false billing, contract fraud, kickbacks and theft; 36 of those cases have been referred to the Justice Department for prosecution, according to the inspector general's office. The Army Criminal Investigation Command is busy, too. The command has 90 criminal investigations under way related to alleged contract fraud in Iraq, Kuwait and Afghanistan. Two dozen U.S. citizens have been charged or indicted so far — 19 of those are Army military and civilian employees — and more than $15 million in bribes has changed hands.

Note: For many more revelations of war profiteering, click here.

USDA Recommends That Food From Clones Stay Off the Market
2008-01-16, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/01/15/AR20080115015...

The U.S. Department of Agriculture yesterday asked U.S. farmers to keep their cloned animals off the market indefinitely even as Food and Drug Administration officials announced that food from cloned livestock is safe to eat. Bruce I. Knight, the USDA's undersecretary for marketing and regulatory programs, requested an ongoing "voluntary moratorium" to buy time for "an acceptance process" that Knight said consumers in the United States and abroad will need, "given the emotional nature of this issue." Yet even as the two agencies sought a unified message -- that food from clones is safe for people but perhaps dangerous to U.S. markets and trade relations -- evidence surfaced suggesting that Americans and others are probably already eating meat from the offspring of clones. Executives from the nation's major cattle cloning companies conceded yesterday that they have not been able to keep track of how many offspring of clones have entered the food supply, despite a years-old request by the FDA to keep them off the market pending completion of the agency's safety report. At least one Kansas cattle producer also disclosed yesterday that he has openly sold semen from prize-winning clones to many U.S. meat producers in the past few years, and that he is certain he is not alone. "This is a fairy tale that this technology is not being used and is not already in the food chain," said Donald Coover, a Galesburg cattleman and veterinarian who has a specialty cattle semen business. "Anyone who tells you otherwise either doesn't know what they're talking about, or they're not being honest." Last year, [only] 22 percent of Americans who responded to a major survey said they had a favorable impression of food from clones.

Note: For lots more reliable information on how big business takes huge risks with the food we eat, click here.

O Brother, Who Art Thou?
2007-11-15, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2007/11/14/AR20071114021...

"I am not my brother's keeper," Howard "Cookie" Krongard, the State Department's inspector general, testified to the House Oversight and Government Reform Committee yesterday. As Cookie surely must know, that excuse hasn't worked since Genesis. In this case, the players weren't Cain and Abel, but Cookie and his brother Buzzy. Cookie, under fire for allegedly quashing probes of the infamous Blackwater security contractor, began his testimony by angrily denying the "ugly rumors" that his brother, former CIA official Alvin "Buzzy" Krongard, is on Blackwater's advisory board. But during a recess, Cookie called Buzzy and learned that -- gulp -- the ugly rumors are true: His brother is on the board. When the lawmakers returned, Cookie revised and extended his testimony. "I had not been aware of that," Cookie told the congressmen. "I hereby recuse myself from any matters having to do with Blackwater." The lawmakers reacted with Old Testament fury. The swaggering Cookie -- he alternately addressed the lawmakers with his thumb in his waistband, slouching in his chair, rolling his eyes and making baffled glances -- had spent the morning aggressively denying the allegations lodged against him: that he had impeded investigations into contracting fraud, including weapons smuggling by Blackwater, and that he had abused his underlings. But then came Buzzy's bombshell -- and Cookie's credibility crumbled. Either he had lied to Congress, or his own brother had lied to him. It was only the latest bit of strangeness for the powerful but eccentric Brothers Krongard. Buzzy [is] known for his cigar chomping, martial arts and recreational workouts with SWAT teams. "Krongard once punched a great white shark in the jaw," his hometown Baltimore Sun reported when he took the No. 3 job at the CIA a decade ago. More recently, Buzzy joined the advisory board of Blackwater, the firm known for its ready trigger fingers in Iraq.

Note: Alvin "Buzzy" Krongard was the Executive Director (the third-highest position) at the CIA on 9/11, and had until 1998 been the head of the firm used to buy many of the "put" options on United Airlines stock made just prior to 9/11 that were never claimed, though this received little media coverage.

Chinese Chemicals Flow Unchecked Onto World Drug Market
2007-10-31, New York Times
http://www.nytimes.com/2007/10/31/world/asia/31chemical.html?ex=1351483200&en...

Pharmaceutical ingredients exported from China are often made by chemical companies that are neither certified nor inspected by Chinese drug regulators, The New York Times has found. Because the chemical companies are not required to meet even minimal drug-manufacturing standards, there is little to stop them from exporting unapproved, adulterated or counterfeit ingredients. The substandard formulations made from those ingredients often end up in pharmacies in developing countries and for sale on the Internet, where more Americans are turning for cheap medicine. [At a pharmaceutical trade show in Milan], the Times identified at least 82 Chinese chemical companies that said they made and exported pharmaceutical ingredients — yet not one was certified by the State Food and Drug Administration in China, records show. Nonetheless, the companies were negotiating deals at the pharmaceutical show, where suppliers wooed customers with live music, wine and vibrating chairs. In China, chemical manufacturers that sell drug ingredients fall into a regulatory hole. Pharmaceutical companies are regulated by the food and drug agency. Chemical companies that make products as varied as fertilizer and industrial solvents are overseen by other agencies. The problem arises when chemical companies cross over into drug ingredients. “We have never investigated a chemical company,” said Ms. Yan [Jiangying], deputy director of policy and regulation at the State Food and Drug Administration. “We don’t have jurisdiction.” China has an estimated 80,000 chemical companies, and the United States Food and Drug Administration does not know how many sell ingredients used in drugs consumed by Americans. The Times examined thousands of companies selling products on major business-to-business Internet trading sites and found more than 1,300 [Chinese] chemical companies offering pharmaceutical ingredients.

Note: For many other reliable reports concerning health, click here.

Drug Co. To Pay $515M Over Marketing
2007-09-28, CBS News
http://www.cbsnews.com/stories/2007/09/28/business/main3310529.shtml

Bristol-Myers Squibb Co. and a former subsidiary have agreed to pay more than $515 million to settle federal and state investigations into their drug marketing and pricing practices. The civil settlement ... resolves a broad array of allegations against Bristol-Myers Squibb, dating from 1994 through 2005. Among them was a charge that the ... company illegally promoted the sale of Abilify, an anti-psychotic drug, for pediatric use and to treat dementia-related psychoses. Neither use is approved by the U.S. [FDA]. Although physicians are permitted to prescribe drugs for off-label uses, drug companies are prohibited from marketing them for uses that have not been approved by the FDA. U.S. Attorney Michael Sullivan said when pharmaceutical companies market drugs for unapproved uses, there is a potential risk that patients could be harmed, because the drugs have not been tested as rigorously as they are during the FDA approval process. The government also alleged the company paid illegal inducements in the form of consulting fees and trips to luxury resorts to influence doctors and other health care providers to buy and prescribe the company's drugs. The company's former generic drug subsidiary, Apothecon Inc., also was accused of giving illegal enticements to induce retail pharmacy and wholesale customers to buy its products. Bristol-Myers Squibb misreported its best price for the anti-depression drug Serzone, violating a law that requires drug companies to report their lowest price to Medicaid, prosecutors said. The company was selling Serzone to a larger commercial purchaser at a lower price, prosecutors said. Bristol-Myers Squibb and Apothecon also inflated prices for an assortment of oncology and generic drugs knowing that federal health care programs established reimbursement rates based on those prices, Sullivan said.

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

Telecom Firms Helped With Government's Warrantless Wiretaps
2007-08-24, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2007/08/23/AR20070823020...

The Bush administration acknowledged for the first time that telecommunications companies assisted the government's warrantless surveillance program and were being sued as a result, an admission some legal experts say could complicate the government's bid to halt numerous lawsuits challenging the program's legality. "[U]nder the president's program, the terrorist surveillance program, the private sector had assisted us," Director of National Intelligence Mike McConnell said in an interview with the El Paso Times. His statement could help plaintiffs in dozens of lawsuits against the telecom companies, which allege that the companies participated in a wiretapping program that violated Americans' privacy rights. David Kris, a former Justice Department official, ... said McConnell's admission makes it difficult to argue that the phone companies' cooperation with the government is a state secret. "It's going to be tough to continue to call it 'alleged' when he's just admitted it," Kris said. McConnell has just added to "the list of publicly available facts that are no longer state secrets," increasing the plaintiffs' chances that their cases can proceed, Kris said. McConnell's statement "does serious damage to the government's state secrets claims that are at the heart of its defenses," said Greg Nojeim, senior counsel at the Center for Democracy and Technology. Bruce Fein, an associate deputy attorney general in the Reagan administration, said that McConnell's disclosure shows that "an important element of a program can be discussed publicly and openly without endangering the nation. These Cassandran cries that the earth is going to fall every time you have a discussion simply are not borne out by the facts," he said.

Suit: Oil giants fixed prices for 23,000 gas station owners
2007-08-22, USA Today/Associated Press
http://www.usatoday.com/money/industries/energy/2007-08-22-gas-lawsuit_N.htm

Nearly two dozen gas station owners in California [have] sued Shell Oil, Chevron (CVX) and Saudi Refining ... claiming the companies conspired to fix prices for 23,000 franchise owners nationwide. The plaintiffs ... say chairmen of the three oil companies met privately nearly every month starting in March 1996 for the "purpose of forming and organizing a combination." The lawsuit alleges executives destroyed documents from the meetings, and a defunct joint venture violated U.S. antitrust laws and caused artificially high wholesale gas prices in nearly every state from 1999 to 2001. The lawsuit hinges on a marketing deal that, plaintiffs say, allowed former rivals to collude on prices starting in 1998, when Shell and Texaco formed Equilon Enterprises [and] Motiva Enterprises LLC. Equilon and Motiva began operating when ... crude oil prices hit their lowest levels since the Great Depression, according to ... lawyer Joseph M. Alioto, who [represents] the plaintiffs. Yet gas prices soared for franchise owners, forcing them to pass on the cost to consumers or cut profit margins. "These executives get together and say, 'OK, we're going to raise Texaco's price to Shell's price, then we're going to raise both of them 50 to 75%, and we're going to do it after we've already had all these cost savings,'" Alioto said. [He] argues wholesale prices were higher by at least 20 cents a gallon and possibly as much as 40 cents per gallon from 1999 to 2001. Station owners had little choice but to pay higher prices. Franchises typically sign long-term contracts with oil suppliers, making it tough to switch to another brand or an independent supplier.

Stung by Harper's In a Web Of Deceit
2007-06-25, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2007/06/24/AR20070624016...

Ken Silverstein says he lied, deceived and fabricated to get the story. But it was worth it, he insists. Those on the receiving end don't agree. As Washington editor of Harper's magazine, Silverstein posed as Kenneth Case, a London-based executive with the fictional Maldon Group, claiming to represent the government of Turkmenistan. He had fake business cards printed, bought a London cellphone number and created a bogus Web site -- all to persuade Beltway lobbying firms to pitch him on representing Turkmenistan. "For me to deny, or try to shade the fact that I tricked them would be stupid," Silverstein says. "Obviously we did. If our readers feel uncomfortable, they're free to dismiss the findings of the story." Says Harper's Editor Roger Hodge: "The big question in our mind was whether anybody was going to fall for it." They did. According to Harper's, executives at the Washington firm APCO Worldwide laid out a communications plan that included lobbying policymakers -- possibly including a trip for members of Congress -- and generating "news items." Senior Vice President Barry Schumacher told Silverstein the firm could drum up positive op-ed pieces by utilizing certain think tank experts. The proposed fee: $40,000 a month. Another Washington firm, Cassidy & Associates, asked for at least $1.2 million a year and touted a proposed trip to Turkmenistan for journalists and think tank analysts. Hodge says the caper is part of "a long history of sting operations" by journalists. But that undercover tradition has faded in recent years. No newspaper today would do what the Chicago Sun-Times did in the 1970s, setting up a bar to entrap crooked politicians. Fewer television programs are doing what ABC did in the 1990s, having producers lie to get jobs at a supermarket chain to expose unsanitary practices.

Note: To read the hard-hitting, in-depth article in Harper's magazine, click here.

Diagnosis: Conflict of Interest
2007-06-13, New York Times
http://www.nytimes.com/2007/06/13/opinion/13carlat.html?ex=1339387200&en=68ba...

The revelation that the diabetes drug Avandia can potentially cause heart disease is the latest in a string of pharmaceutical disappointments. Vioxx was pulled from the market in 2004 because it doubled the risks for heart attacks and strokes. Eli Lilly recently paid $750 million to settle lawsuits alleging that Zyprexa causes diabetes. Many have criticized the Food and Drug Administration as being too lax about monitoring drug safety. While those criticisms have merit, there is another culprit: the transformation of continuing medical education into an enterprise for drug marketing. The chore of teaching doctors how to practice medicine has been handed to the pharmaceutical industry. As a result, dangerous side effects are rarely on the curriculum. Most states require that doctors obtain a minimum number of credit hours of continuing medical education each year to maintain their medical licenses. Not so long ago, most of these courses were produced and paid for by universities and medical associations. But this has changed drastically over the past decade. Drug-industry financing of continuing medical education has nearly quadrupled since 1998, from $302 million to $1.12 billion. Half of all continuing medical education courses in the United States are now paid for by drug companies, up from a third a decade ago. Because pharmaceutical companies now set much of the agenda for what doctors learn about drugs, crucial information about potential drug dangers is played down, to the detriment of patient care. For example, GlaxoSmithKline footed the bill for dozens of educational courses intended to emphasize the benefits of Avandia over other drugs.

Note: For a concise, reliable overview of medical corruption, click here.

Big Oil buys Sacramento
2007-05-16, Los Angeles Times
http://www.latimes.com/news/printedition/asection/la-oe-court14may14,1,728748...

Who's afraid of Big Oil? Apparently, California's elected officials. Gasoline prices are stuck well above last year's record highs and about 50 cents above the national average. Yet state politicians are not saying or doing a thing, except for raking in political cash from the oil companies and flying around the world on their dime. Gov. Arnold Schwarzenegger ... once claimed that he was so rich he did not need anyone else's money. Yet as gasoline prices were breaking last year's record of $3.38 a gallon, Schwarzenegger collected a $100,000 check May 1 from Chevron, the West's largest refiner. Just three days earlier, it reported a $4.7-billion first-quarter profit, up 18% over the same period last year. The contribution brought Schwarzenegger's take from Chevron to $665,000 (making it his 15th largest donor) since 2003, and his total political tribute from the energy industry is now $4 million. According to a recent Schwarzenegger fundraising solicitation, Chevron's $100,000 buys the company special briefings with the governor. Refiners such as Chevron have discovered that they can make more money by producing less gasoline. So they do. They have, over more than 20 years, deliberately reduced their capacity. Chevron refined 22% less oil in the U.S. during the first quarter of this year than in the same quarter of 2006. Yet its total profit on U.S. refining increased 66%. Making less gasoline, it made much more money. Oil companies poured $90 million into California political campaigns during the 2006 election cycle. This display of sheer political muscle deters even well-meaning politicians from clashing with Big Oil. Democrats take Big Oil's millions too. The state Democratic Party accepted $50,000 from Chevron just last week.

Note: If above link fails, click here. So is it one person equals one vote in elections or one dollar one vote?

Doctors' Ties to Drug Companies Called Commonplace
2007-04-25, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2007/04/25/AR20070425022...

The ties between doctors and drug manufacturers are close indeed. Most physicians (94 percent) reported some type of relationship with the pharmaceutical industry ... according to [a] study, published in the April 26 issue of the New England Journal of Medicine. Most of these relationships involved receiving food in the workplace (83 percent) or receiving drug samples (78 percent). More than one-third of the respondents (35 percent) were reimbursed for costs associated with professional meetings or continuing medical education, while more than one-quarter (28 percent) were paid for consulting, delivering lectures or enrolling patients in clinical trials. Over the past two decades, physician-industry relationships have attracted increasing scrutiny. One review found that, on average, physicians meet with industry representatives four times a month, and medical residents accept six gifts annually from industry representatives. "We know that these relationships have benefits and risks, and we know that they benefit the companies that are involved, and we know from our data that they benefit doctors," said study author Eric G. Campbell, an assistant professor of health care policy at the Institute for Health Policy at Harvard Medical School. "The real question is to what extent do these relationships benefit patients, and the answer is, we don't know." Campbell said that he found it hard to believe that free football tickets for a doctor would trickle down to benefit patients.

Note: For an excellent article by one of the foremost doctors in the nation on how the pharmaceutical industry has corrupted politics and damaged our health, click here.

Here Comes the Sun
2007-03-02, CNN
http://money.cnn.com/magazines/business2/business2_archive/2006/11/01/8392039

Venture capitalists are pouring hundreds of millions of dollars into [Silicon] Valley solar startups pursuing technological breakthroughs to make sun power as cheap as fossil fuel. Three of the largest tech IPOs of 2005 were for solar companies. The world's largest chip-equipment maker will begin producing machines to manufacture solar wafers, laying the groundwork for an industrial infrastructure that should lower the cost of producing solar cells. Solar energy has just the sort of oversize potential that the titans of tech saw in computing: a free and practically inexhaustible power source. California is also committing $3.2 billion to fund a drive to install solar panels on a million rooftops by 2018, and a November ballot initiative ... would tax Big Oil to provide $4 billion in funding for alternative-energy research, programs, and startups. Perhaps no startup has benefited more from the solar gold rush than Nanosolar. The Palo Alto company ... has racked up more than $100 million in funding so far. Nanosolar is pursuing a technology that produces solar cells on a film that's a 100th the thickness of conventional silicon wafers. Its ultimate goal: integrating thin-film cells directly into building materials. A skyscraper's glass windows, for instance, could be embedded with thin-film cells, giving them energy-producing capabilities. Nanosolar plans to build a manufacturing facility next year ... that will eventually produce 430 megawatts' worth of solar cells per year. That would nearly triple the nation's manufacturing capacity and make Nanosolar one of the world's largest solar producers. Thanks to aggressive government subsidies, Germany and Japan are currently the global leaders in solar production.

Note: With all of its talk about energy independence, why isn't the U.S. aggressively supporting research into solar power like Japan and Germany? For reliable, verifiable information which answers this question, click here.

Report: In U.S., record numbers are plunged into poverty
2007-02-23, USA Today/AFP
http://www.usatoday.com/news/nation/2007-02-25-us-poverty_x.htm

The gulf between rich and poor in the United States is yawning wider than ever, and the number of extremely impoverished is at a three-decade high. Based on the latest available U.S. census data from 2005, [a] McClatchy Newspapers analysis found that almost 16 million Americans live in "deep or severe poverty" defined as a family of four with two children earning less than 9,903 dollars — one half the federal poverty line figure. For individuals the "deep poverty" threshold was an income under 5,080 dollars a year. The number of severely poor Americans grew by 26% from 2000 to 2005. The surge in poverty comes alongside an unusual economic expansion. "Worker productivity has increased dramatically since the brief recession of 2001, but wages and job growth have lagged behind. At the same time, the share of national income going to corporate profits has dwarfed the amount going to wages and salaries. That helps explain why the median household income for working-age families, adjusted for inflation, has fallen for five straight years. These and other factors have helped push 43% of the nation's 37 million poor people into deep poverty — the highest rate since at least 1975," the report said. Since 2000, the number of severely poor — far below basic poverty terms — in the United States has grown "more than any other segment of the population. That was the exact opposite of what we anticipated when we began," said Steven Woolf of Virginia Commonwealth University, a study co-author. U.S. social programs are minimal compared to those of western Europe and Canada.

Texas Governor Defends Vaccine Order
2007-02-22, MSNBC/Associated Press
http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=AP&Date=2...

Gov. Rick Perry on Thursday angrily defended his relationship with Merck & Co. and his executive order requiring that schoolgirls receive the drugmaker's vaccine against the sexually transmitted cervical-cancer virus. The Associated Press reported Wednesday that Perry's chief of staff had met with key aides about the vaccine on Oct. 16, the same day Merck's political action committee donated $5,000 to the governor's campaign. In issuing the order, the governor made Texas the first state to require the vaccine Gardasil for all schoolgirls. But many lawmakers have complained about his bypassing the Legislature altogether. The executive order has inflamed conservatives, who said it contradicts Texas' abstinence-only sexual education policies and intrudes into families' lives. Critics have previously questioned Perry's ties to Merck. Mike Toomey, Perry's former chief of staff, now lobbies for the drug company. And the governor accepted a total of $6,000 from Merck during his re-election campaign. Merck has waged a behind-the-scenes lobbying campaign to get state legislatures to require girls to get the three-dose vaccine to enroll in school. But on Tuesday the pharmaceutical company announced it was suspending the effort because of pressure from parents and medical groups. The Kentucky House on Thurday passed a bill that would require the vaccination for middle school girls unless their parents sign a form opposing it. Virginia lawmakers have also passed legislation requiring the vaccine, but the governor has not decided if he will sign it.

Note: The drug company lobby is the most powerful in the U.S., as reported by the former editor-in-chief of one of the most respected medical journals in the U.S. Click here for more.

ExxonMobil tried to mislead, scientists say
2007-01-04, Boston Globe/Associated Press
http://www.boston.com/business/globe/articles/2007/01/04/exxonmobil_tried_to_...

ExxonMobil Corp. gave $16 million to 43 ideological groups between 1998 and 2005 in an effort to mislead the public by discrediting the science behind global warming, the Union of Concerned Scientists asserted yesterday. The report by the advocacy group mirrors similar claims by Britain's leading scientific academy. Last September, The Royal Society wrote the oil company asking it to halt support for groups that "misrepresented the science of climate change." Alden Meyer, the Union of Concerned Scientists' strategy and policy director, said in a teleconference that ExxonMobil based its tactics on those of tobacco companies, spreading uncertainty by misrepresenting peer-reviewed scientific studies or emphasizing only selected facts. James McCarthy, a professor at Harvard University, said the company has sought to "create the illusion of a vigorous debate" about global warming.

Science a la Joe Camel
2006-11-26, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2006/11/24/AR20061124007...

At hundreds of screenings this year of "An Inconvenient Truth," the first thing many viewers said after the lights came up was that every student in every school in the United States needed to see this movie. The producers of former vice president Al Gore's film about global warming ... certainly agreed. So the company that made the documentary decided to offer 50,000 free DVDs to the National Science Teachers Association (NSTA). It seemed like a no-brainer. In their e-mail rejection, they expressed concern that ... they didn't want to offer "political" endorsement of the film; and they saw "little, if any, benefit to NSTA or its members" in accepting the free DVDs. As for classroom benefits, the movie has been enthusiastically endorsed by leading climate scientists worldwide, and is required viewing for all students in Norway and Sweden. But there was one more curious argument in the e-mail: Accepting the DVDs, they wrote, would place "unnecessary risk upon the [NSTA] capital campaign, especially certain targeted supporters." One of those supporters, it turns out, is the Exxon Mobil Corp. That's the same Exxon Mobil that for more than a decade has done everything possible to muddle public understanding of global warming and stifle any serious effort to solve it. It has run ads in leading newspapers ... questioning the role of manmade emissions in global warming, and financed the work of a small band of scientific skeptics who have tried to challenge the consensus that heat-trapping pollution is drastically altering our atmosphere. NSTA says it has received $6 million from the company since 1996. Exxon Mobil has a representative on the group's corporate advisory board.

Fuelling debate
2006-07-10, Toronto Star
http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Articl...

A poignant new documentary asks who killed GM's promising electric car project? A new documentary released June 28 in New York and Los Angeles, appropriately titled Who Killed The Electric Car? tries in Clue-like fashion to figure out why GM pulled the plug on its EV1 electric vehicle program, which by most accounts was approaching success when the first prototype was introduced in the mid-1990s. "It was a revolutionary, modern car, requiring no gas, no oil changes, no mufflers, and rare brake maintenance," according to a synopsis of the film. In the 1990s a strict clean-air mandate introduced in California that called for zero-emission vehicles was what led GM to introduce the EV1. Eventually that California mandate got watered down from "zero" to "low" emissions, and the automakers decided to literally blow up their EV programs. GM, which leased out the EV1 cars it produced, called them all back after California changed its policy. The cars were crushed and shredded. Who were the people leasing these vehicles? Tom Hanks, Mel Gibson and Ted Danson, among others, many of whom appear in the movie and talk favourably about their electric cars. If the implications of an advance means loss of future business to a paradigm, the key players of that paradigm will lobby to kill it. The paradigm? Big oil. Similarly, the auto industry has an interest in perpetuating the manufacture of vehicles that require routine, costly maintenance.

Note: For more information and showing times on the highly revealing Who Killed The Electric Car, visit www.whokilledtheelectriccar.com. For even deeper information www.WantToKnow.info/newenergysources

Exposed: the secret corporate funding behind health research
2006-02-07, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/comment/story/0,,1703694,00.html

Academics and the media have failed dismally to ask the crucial question of scientists' claims: who is paying you? In the 1990s...[Arise] was one of the world's most influential public-health groups. It described itself as "a worldwide association of eminent scientists who act as independent commentators". Its purpose...was to show how "everyday pleasures, such as eating chocolate, smoking, drinking tea, coffee and alcohol, contribute to the quality of life". "Scientific studies show that enjoying the simple pleasures in life, without feeling guilty, can reduce stress and increase resistance to disease". Between September 1993 and March 1994,...[Arise] generated 195 newspaper articles and radio and television interviews, in places such as the Wall Street Journal, the International Herald Tribune, the Independent, the Evening Standard, El País, La Repubblica, Rai and the BBC. In 1998...[tobacco] firms were obliged to place their internal documents in a public archive. Among them...is a memo from...Philip Morris - the world's largest tobacco company. The title is "Arise 1994-95 Activities and Funding". This showed that in the previous financial year Arise had received $373,400: ...over 99% - from Philip Morris, British American Tobacco, RJ Reynolds and Rothmans. The memo suggests Arise was run not by eminent scientists but by eminent tobacco companies. How much more science is being published in academic journals with undeclared interests like these? How many more media campaigns...have been secretly funded and steered by corporations?

Note: If you want to understand how corporate interests secretly manipulate both scientific results and public perception, this excellent article is well worth reading.

DuPont Stuck With Big Teflon Fine
2005-12-14, CBS/Associated Press
http://www.cbsnews.com/stories/2005/12/14/business/main1124537.shtml

DuPont Co. has agreed to pay $10.25 million in fines and $6.25 million for environmental projects in a settlement with the Environmental Protection Agency over the company's alleged failure to report the dangers of a toxic chemical used to make Teflon. EPA officials said the settlement represents the largest civil administrative penalty the agency has ever obtained under any federal environmental statute. The EPA alleged that DuPont withheld information for more than 20 years about the health effects of PFOA. DuPont faced a potential fine of more than $300 million for not reporting that the chemical posed a substantial risk of injury to health or the environment. "The settlement allows us to put this matter behind us and move forward," said [DuPont general counsel Stacey] Mobley, who noted that the company has cut PFOA emissions from U.S. plant sites by 98 percent and hopes to reduce emissions even further by 2007. DuPont...still faces a federal criminal investigation of its actions concerning PFOA. In a draft report released in June, the majority of members on a scientific advisory board that reviewed the EPA's draft risk assessment concluded that the chemical is "likely" to be carcinogenic to humans.

Gulf Between Top, Bottom Gets Wider
2005-05-31, Los Angeles Times
http://www.latimes.com/business/careers/work/la-fi-execpay31may31,1,7406992.s...

A Times survey of the state's largest companies shows that CEOs' pay is growing at a much faster pace than that of rank-and-file employees. The difference is even sharper at the top rungs of the ladder. The 10 highest-paid executives on this year's list earned 36.7% more than last year's top 10 — garnering a collective $467.5 million. That's enough to buy about 275 homes in Malibu or 1.5 million sets of golf clubs or two 747 jumbo jets. Although limited to California companies, the survey reflects a national trend: a widening chasm between the pay of chief executives and rank-and-file employees. CEOs at California's largest 100 public companies took home a collective $1.1 billion in 2004, up almost 20% from 2003. That compares with the 2.9% raise that the average California worker saw last year. The average CEO made 42 times the average worker's pay in 1980. That increased to 85 times in 1990 and is now over 300 times. Sometimes, executive pay soars even in bad years. Sanmina-SCI Corp., a San Jose telecommunications company with $12 billion in sales, lost money in 2003 and 2004. Yet Chief Executive Jure Sola scored a 1,500% hike in total pay during 2004, according to The Times survey. Sola was paid $19.8 million last year, while the company lost $14.9 million.

Merck CEO Resigns as Drug Probe Continues
2005-05-06, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2005/05/05/AR20050505011...

Merck & Co.'s longtime leader Raymond V. Gilmartin abruptly resigned yesterday on the same day congressional investigators released a slew of documents detailing how the company continued to aggressively promote its arthritis drug Vioxx after it knew of potentially serious safety concerns. The documents...showed that Merck directed its 3,000-person Vioxx sales force to avoid discussions with doctors about the cardiovascular risks identified in a major clinical trial of the drug in 2000. Sales representatives were told instead to rely on a "Cardiovascular Card" that said Vioxx was protecting the heart rather than potentially harming it. They were [also] trained how to smile, speak and position themselves most effectively when talking with doctors, and were exhorted to sell Vioxx and other Merck drugs using the Rev. Martin Luther King Jr.'s "I Have a Dream" speech. Vioxx was withdrawn from the market last September after another clinical trial found that people who had taken the drug for 18 months were five times more likely to have heart attacks and strokes than those on a placebo. Merck was sharply criticized in a hearing into how the company and the Food and Drug Administration had handled the safety concerns surrounding Vioxx.

EPA Mercury Rule Omits Conflicting Data
2005-03-22, Washington Post
http://www.washingtonpost.com/wp-dyn/articles/A55268-2005Mar21.html

When the Environmental Protection Agency unveiled a rule last week to limit mercury emissions from U.S. power plants, officials emphasized that the controls could not be more aggressive because the cost to industry already far exceeded the public health payoff. What they did not reveal is that a Harvard University study paid for by the EPA, co-authored by an EPA scientist and peer-reviewed by two other EPA scientists had reached the opposite conclusion. That analysis estimated health benefits 100 times as great as the EPA did, but top agency officials ordered the finding stripped from public documents.

Tapes Show Enron Arranged Plant Shutdown
2005-02-04, New York Times
http://www.nytimes.com/2005/02/04/national/04energy.html?ex=1265259600&en=172...

In the midst of the California energy troubles in early 2001, when power plants were under a federal order to deliver a full output of electricity, the Enron Corporation arranged to take a plant off-line on the same day that California was hit by rolling blackouts, according to audiotapes of company traders. The tapes and memorandums were made public by a small public utility north of Seattle that is fighting Enron over a power contract. They also showed that Enron, as early as 1998, was creating artificial energy shortages and running up prices in Canada in advance of California's larger experiment with deregulation. The tapes provide new details of market manipulation during the California energy crisis that produced blackouts and billions of dollars of surcharges to homes and businesses on the West Coast in 2000 and 2001. In one January 2001 telephone tape of an Enron trader the public utility identified as Bill Williams and a Las Vegas energy official identified only as Rich, an agreement was made to shut down a power plant providing energy to California. The shutdown was set for an afternoon of peak energy demand. The next day, Jan. 17, 2001, as the plant was taken out of service, the State of California called a power emergency, and rolling blackouts hit up to a half-million consumers, according to daily logs of the western power grid. Officials with the Snohomish County Public Utility District in Washington State, which released the tapes, said they believed Enron officials had taken similar measures with other power plants. This tape, they said, was proof of what was going on.

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

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.

A Real Chip On Your Shoulder
2003-07-17, CBS News/Associated Press
http://www.cbsnews.com/stories/2003/07/17/tech/main563819.shtml

A U.S. company launched Thursday in Mexico the sale of microchips that can be implanted under a person's skin and used to confirm everything from health history to identity. The microchips ... went on sale last year in the United States. The microchip, the size of a grain of rice, is implanted in the arm or hip and can contain information on everything from a person's blood type to their name. In a two-hour presentation, Palm Beach, Florida-based Applied Digital Solutions Inc. introduced reporters to the VeriChip and used a syringe-like device and local anesthetic to implant a sample in the right arm of employee Carlos Altamirano. “It doesn't hurt at all,” he said. “The whole process is just painless.” Antonio Aceves, the director of the Mexican company charged with distributing the chip here, said that in the first year of sales, the company hoped to implant chips in 10,000 people and ensure that at least 70 percent of all hospitals had the technology to read the devices. One chip costs $150 and has a $50 annual fee. Users can update and manage their chips' information by calling a 24-hour customer service line. The VeriChip can track subjects who are within 5 miles, but officials want to develop a new chip that can use satellite technology to track people who are farther away and may have been kidnapped. While the idea of using the chip to track people has raised privacy concerns in the United States, the idea has been popular with Mexicans. The company hopes to have the new anti-kidnapping chip developed by 2003.

Weekend break for the global elite
2001-05-25, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/world/2001/may/25/globalisation.madeleinebunting

Global power-brokers have a penchant for siting their get-togethers in inaccessible places. Since Seattle 1999, Washington and Prague 2000, the calendar of global get-togethers has attracted lively anti-globalisation demonstrations. Davos this year had unusually tight security to try and keep protestors well away, leading to allegations of unnecessary heavy-handedness by the Swiss police. This weekend, it is the turn of Bilderberg, perhaps the most secretive (or as the organisers would prefer to claim, discrete) club for the global elite. It holds its weekend on Stenungsund, an island off the Swedish west coast. The group was created by Denis (now Lord) Healey, Joseph Retinger, David Rockefeller and Prince Bernhard of the Netherlands (a former SS officer) - the group aimed to [bring] together financiers, industrialists, politicians and opinion formers; the press have never been allowed access. There is a growing perception that globalisation is a process which is being managed for the benefit of a small proportion of the planet's residents and at terrible cost to many more. There is a perception of illegitimacy about unaccountable corporate power and governments elected on low turnout: sooner or later global power-brokers will have to recognise this crisis of legitimacy, and engage with protestors rather than run away from them.

Note: For lots more reliable news on powerful secret societies, click here. And for another balanced article on the powerful Bilderberg Group, click here.

Congress Passes Wide-Ranging Bill Easing Bank Laws
1999-11-05, New York Times
http://www.nytimes.com/1999/11/05/business/congress-passes-wide-ranging-bill-...

Congress approved landmark legislation today that opens the door for a new era on Wall Street in which commercial banks, securities houses and insurers will find it easier and cheaper to enter one another's businesses. The measure, considered by many the most important banking legislation in 66 years, was approved in the Senate by a vote of 90 to 8 and in the House tonight by 362 to 57. The bill will now be sent to the president, who is expected to sign it, aides said. ''Today Congress voted to update the rules that have governed financial services since the Great Depression and replace them with a system for the 21st century,'' Treasury Secretary Lawrence H. Summers said. ''This historic legislation will better enable American companies to compete in the new economy.'' The decision to repeal the Glass-Steagall Act of 1933 provoked dire warnings from a handful of dissenters that the deregulation of Wall Street would someday wreak havoc on the nation's financial system. The original idea behind Glass-Steagall was that separation between bankers and brokers would reduce the potential conflicts of interest that were thought to have contributed to the speculative stock frenzy before the Depression. Consumer groups and civil rights advocates criticized the legislation for being a sop to the nation's biggest financial institutions. The opponents of the measure ... predicted that by unshackling banks and enabling them to move more freely into new kinds of financial activities, the new law could lead to an economic crisis down the road when the marketplace is no longer growing briskly.

Note: Clearly these critics of the elimination of Glass-Steagall have been proven right by the financial crisis which has unfolded less than 10 years later. Note the key role played by President Obama's top economic advisor, Larry Summers. If the players haven't changed, how likely is it that the game has?

Tracking a new kind of civil disobedience
2010-02-18, Boston Globe
http://www.boston.com/yourtown/newton/articles/2010/02/18/bc_professor_lisa_d...

As Newton resident Lisa Dodson, a Boston College sociology professor in the thick of a research project, was interviewing a grocery story manager in the Midwest about the difficulties of the low-income workers he supervised, he asked her a curious question: “Don’t you want to know what this does to me too?’’ She did. And so the manager talked about the sense of unfairness he felt as a supervisor, making enough to live comfortably while overseeing workers who couldn’t feed their families on the money they earned. That inequality, he told her, tainted his job, making him feel complicit in an unfair system that paid hard workers too little to cover basic needs. The interview changed the way Dodson talked with other supervisors and managers of low-income workers, and she began to find that many of them felt the same discomfort as the grocery store manager. And many went a step further, finding ways to undermine the system and slip their workers extra money, food, or time needed to care for sick children. She was surprised how widespread these acts were. In her new book, The Moral Underground: How Ordinary Americans Subvert an Unfair Economy, she called such behavior “economic disobedience." Dodson concluded that [many] were following the American tradition of civil disobedience - this time, against the economy - and creating a “moral underground."

Can Bosses Do That? As It Turns Out, Yes They Can
2010-01-29, NPR
http://www.npr.org/templates/story/story.php?storyId=123024596

Did you know you could be fired for not removing a political sticker from your car — or even having a beer after work? Lewis Maltby says it's more than possible — it has happened. His new book, Can They Do That? explores rights in the workplace. As he tells NPR's Ari Shapiro, "Freedom of speech is protected by the First Amendment — but only where the government is concerned. What most Americans generally don't know is that the Constitution doesn't apply to private corporations at all." In terms of monitoring its employees, the list of things a corporation can't do is a short one — it's basically confined to eavesdropping on a personal oral conversation, Maltby said. "Anything else is open season." And outside the workplace, personal blogs or social media pages on services like Twitter or Facebook offer no refuge. Asked if workers can be fired for things they write on those sites, Maltby said, "Absolutely. Happens every day. I've been getting calls from people for 20 years who've been abused in all sorts of ways," Maltby said. "When I tell them, 'Sorry, you don't have any legal rights,' they literally don't believe me," Maltby said.

New nonprofit uses Web to pressure Chevron
2009-11-16, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/11/15/BUCM1AJM61.DTL

Retired retail executive Richard Goldman was astonished when he heard about the $27 billion pollution lawsuit against Chevron Corp. in Ecuador. Astonished at the soil and water contamination surrounding Ecuador's oil fields. And astonished that he'd never heard of it before. So Goldman, one of the founders of the Men's Wearhouse clothing chain, has created a nonprofit group that will use social-networking tools to spread word of the case and put pressure on Chevron. The group, Ethos Alliance, will ask visitors to its Web site to tell others about the issue, hoping that viral communication via the Internet will reach people that news stories about the suit haven't. The site will raise money for humanitarian relief projects in Ecuador's oil patch, encouraging visitors to donate $5 apiece to build a water treatment plant and buy medicine for a health clinic. The Web site, www.ethosalliance.org, goes online today. Ethos also will urge Chevron to settle the long-running lawsuit, something the San Ramon company has vowed not to do. Ethos plans to tackle other issues of corporate responsibility in the future, uniting the alliance's online members with businesses willing to join the cause. Ethos is the latest example of social or political causes using social networking to increase their reach. Earlier this year, a one-day fundraising effort organized via Twitter collected $250,000 for drinking water projects in the developing world.

Monsanto guilty in 'false ad' row
2009-10-15, BBC News
http://news.bbc.co.uk/2/hi/europe/8308903.stm

France's highest court has ruled that US agrochemical giant Monsanto had not told the truth about the safety of its best-selling weed-killer, Roundup. The court confirmed an earlier judgment that Monsanto had falsely advertised its herbicide as "biodegradable" and claimed it "left the soil clean". The company was fined 15,000 euros (£13,800; $22,400). Roundup is the world's best-selling herbicide. Monsanto also sells crops genetically-engineered to be tolerant to Roundup. French environmental groups had brought the case in 2001 on the basis that glyphosate, Roundup's main ingredient, is classed as "dangerous for the environment" by the European Union. Earlier this month, Monsanto reported a fourth quarter loss of $233m (£147m), driven mostly by a drop in sales of its Roundup brand.

Note: For an article on the dangers of Monsanto's RoundUp, click here.

Oil, Ecuador and its people
2009-08-28, Los Angeles Times
http://www.latimes.com/news/opinion/la-ed-chevron28-2009aug28,0,6949161.story

Chevron Corp., California's largest company and one of the world's largest oil producers, will soon face a day of reckoning. After 16 years of litigation, a case the company inherited in a merger, Aguinda vs. Texaco Inc., is nearing an end. The legal battle that began in the United States in 1993 and resumed in Ecuador in 2003 has pitted the multinational against an unlikely adversary, a coalition of indigenous tribes and communities. A verdict is expected early next year. The plaintiffs are poised to prevail, and Chevron acknowledges that it is likely to lose. The case is historic by several measures. Never before have indigenous peoples brought a multinational oil corporation to trial in their own country. Moreover, a victory would mark a turning point in the relations between native populations around the world and the foreign corporations that do business in their homelands. And the potential damages are staggering: A court-appointed expert has determined that they could run to $27 billion, almost 10 times that initially awarded to plaintiffs after the Exxon Valdez oil spill. Today, a swath of the Ecuadorean Amazon the size of Rhode Island remains contaminated beyond imagining. At one site after another, oil hangs in the air, slides on the water's surface and saturates the land. Pipelines and waste pits left behind years ago still drip and ooze. Advocates for the plaintiffs have called the former Texaco concession area the "Amazon Chernobyl." Were it in the United States, it would easily qualify as a Superfund site. Neither side in the case disputes the devastation, only who should pay for it.

Note: For the inspiring story of the courageous Ecuadorian lawyer behind this David vs. Goliath lawsuit, click here. A smear campaign by Chevron against the judge in this case has more recently swayed opinion in favor of Chevron again. Contact your political and media representatives at this link to express your opinion.

'We are fighting for our lives and our dignity'
2009-06-13, The Guardian (One of the U.K.'s leading newspapers)
http://www.guardian.co.uk/environment/2009/jun/13/forests-environment-oil-com...

Across the globe, as mining and oil firms race for dwindling resources, indigenous peoples are battling to defend their lands – often paying the ultimate price. It has been called the world's second "oil war", but the only similarity between Iraq and events in the jungles of northern Peru over the last few weeks has been the mismatch of force. On one side have been the police armed with automatic weapons, teargas, helicopter gunships and armoured cars. On the other are several thousand Awajun and Wambis Indians, many of them in war paint and armed with bows and arrows and spears. The Indians this week warned Latin America what could happen if companies are given free access to the Amazonian forests to exploit an estimated 6bn barrels of oil and take as much timber they like. After months of peaceful protests, the police were ordered to use force to remove a road block near Bagua Grande. In the fights that followed, at least 50 Indians and nine police officers were killed, with hundreds more wounded or arrested. The indigenous rights group Survival International described it as "Peru's Tiananmen Square". "For thousands of years, we've run the Amazon forests," said Servando Puerta, one of the protest leaders. "This is genocide. They're killing us for defending our lives, our sovereignty, human dignity." Peru is just one of many countries now in open conflict with its indigenous people over natural resources. Barely reported in the international press, there have been major protests around mines, oil, logging and mineral exploitation in Africa, Latin America, Asia and North America. Hydro electric dams, biofuel plantations as well as coal, copper, gold and bauxite mines are all at the centre of major land rights disputes.

Note: Click on the link above to read this important article in its entirety. It reports on numerous struggles around the world by indigenous people to protect their livelihoods and traditions from corporate and governmental predation.

Health care's enigma in chief
2009-05-15, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/05/14/EDMF17KIVP.DTL

The most stunning and least reported news about President Obama's press conference with health industry executives this week wasn't those executives' willingness to negotiate with a Democrat. It was that Democrat's eagerness to involve those executives in a discussion about health care reform even as they revealed their previous plans to pilfer $2 trillion from Americans. That was the little-noticed message from the made-for-TV spectacle administration officials called a health care "game changer": In saying they can voluntarily slash $200 billion a year from the country's medical bills over the next decade and still preserve their profits, health care companies implicitly acknowledged they were plotting to fleece consumers, and have been fleecing them for years. With that acknowledgment came the tacit admission that the industry's business is based not on respectable returns but on grotesque profiteering and waste - the kind that can give up $2 trillion and still guarantee huge margins. Chief among the profiteers at the White House event were insurance companies, which have raised premiums by 119 percent since 1999, and one obvious question is why - why would Obama engage those particular thieves? It's a difficult query to answer, because Obama is a health care mystery, struggling to muster consistent positions on the issue. Listening to a 2003 Obama speech, it's hard to believe he has become such an enigma. Back then, he declared himself "a proponent of a single-payer universal health care program" - i.e., one eliminating private insurers and their overhead costs by having government finance health care.

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

Reported Suicide Is Latest Shock at Freddie Mac
2009-04-23, New York Times
http://www.nytimes.com/2009/04/23/business/23freddie.html?partner=rss&emc=rss...

The pressures were already immense when David B. Kellermann was promoted to the top financial position at the mortgage giant Freddie Mac last September. Mr. Kellermann's boss and other top executives were ousted when the Treasury secretary seized Freddie Mac and its sibling company, Fannie Mae; others left on their own and were not replaced. Early on Wednesday, Mr. Kellermann went to the basement of his brick home and hanged himself, according to people familiar with the situation who were not authorized to speak. His body was removed five hours later, through a throng of neighbors, television crews and others. "David was such an honest and humble person," said Tim Bitsberger, Freddie Mac"s treasurer until he left in December. "It just doesn't make sense," Mr. Bitsberger said. The roots and causes of suicide are often unclear. It is not known if Mr. Kellermann succumbed to the pressures of his job. But in the aftermath of his death, it is plain that at Freddie Mac, as at many of the companies in the center of this economic storm, there are forces so strong they can overwhelm almost anyone. Mr. Kellermann ... was at the intersection of some of the most difficult issues facing the company. Mr. Kellermann was also working in a poisonous political atmosphere. He was recently involved in tense conversations with the company's federal regulator over its routine financial disclosures. Freddie Mac executives wanted to emphasize to investors that they believed the company was being run to benefit the government, rather than shareholders.

Note: For a revealing archive of reports on the hidden realities underlying the Wall Street bailout, click here.

Restrain the credit card industry
2009-04-23, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/04/22/EDK817761J.DTL

While American consumers have been struggling, credit card companies have been enjoying a field day. Not only are most of them receiving federal bailout money, but they've been jacking up interest rates (there were rate hikes on nearly 25 percent of accounts between 2007 and 2008) and switching the terms of agreements with consumers. Why the rush to gouge consumers in the depths of a recession? In July 2010, the Federal Reserve will impose new, consumer-friendly disclosure and administrative restrictions on the credit card industry. Scrambling to get ahead of the deadline, the card companies have been raising interest rates, slicing credit lines and, in too many cases, simply dumping customers with little rhyme or reason. Defaults and delinquencies have skyrocketed - and consumers are livid. "It's off the charts in terms of their ire about paying higher interest rates, particularly when their money, as they see it, is being given to the banks to prop them up," said Rep. Jackie Speier, D-Hillsborough. Speier's staff says her office has been "flooded" with calls from furious constituents. Speier is ... a co-sponsor of HR627, better known as "The Credit Cardholders' Bill of Rights." The bill - which has the support of the Obama administration - would prevent card issuers from raising interest rates without advance notice and end the practice of "double-cycle billing" so that consumers do not have to pay interest on debts they've already paid.

Note: For a highly revealing archive of reports on the hidden realities underlying the Wall Street bailout, click here.

The U.S. Financial System Is Effectively Insolvent
2009-03-05, Forbes Magazine
http://www.forbes.com/2009/03/04/global-recession-insolvent-opinions-columnis...

With economic activity contracting in 2009's first quarter at the same rate as in 2008's fourth quarter, a nasty U-shaped recession could turn into a more severe L-shaped near-depression (or stag-deflation). The scale and speed of synchronized global economic contraction is really unprecedented (at least since the Great Depression), with a free fall of GDP, income, consumption, industrial production, employment, exports, imports, residential investment and, more ominously, capital expenditures around the world. And now many emerging-market economies are on the verge of a fully fledged financial crisis, starting with emerging Europe. In the meantime, the massacre in financial markets and among financial firms is continuing. The debate on "bank nationalization" is borderline surreal, with the U.S. government having already committed--between guarantees, investment, recapitalization and liquidity provision--about $9 trillion of government financial resources to the financial system (and having already spent $2 trillion of this staggering $9 trillion figure). Thus, the U.S. financial system is de facto nationalized, as the Federal Reserve has become the lender of first and only resort rather than the lender of last resort, and the U.S. Treasury is the spender and guarantor of first and only resort. And even with the $2 trillion of government support, most of these financial institutions are insolvent, as delinquency and charge-off rates are now rising at a rate ... that means expected credit losses for U.S. financial firms will peak at $3.6 trillion. So, in simple words, the U.S. financial system is effectively insolvent.

Note: The author of this insightful analysis, Nouriel Roubini, has a very informative blog, available here.

The Death of 'Rational Man'
2009-02-08, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2009/02/06/AR20090206027...

What allowed some people to see the financial crash coming while so many others missed its gathering force? I put that question recently to Nouriel Roubini, who has come to be known as "Dr. Doom" because of his insistent warnings starting in 2006 that we were heading into a global firestorm. Roubini gave two kinds of answers. The first involves standard number-crunching of the sort that economists routinely do -- and that Roubini just did better and sooner. It's his second answer that's more interesting, because it goes to the heart of what we should take away from this crisis: Roubini decided to discard the assumption of market rationality that underlies most economics and to embrace the psychological insights of what's known as "behavioral economics." Everyone else had those same numbers. Why did Roubini act? The answer is that he decided to trust his gut, which told him there was trouble ahead, rather than Wall Street's "wisdom of the crowd," which -- as reflected in stock prices -- said everything was rosy. He concluded that the markets were not pricing in the degree of risk that was actually present in housing. "The rational man theory of economics has not worked," Roubini said last month at a session of the World Economic Forum at Davos. That's why he and other prominent economists are paying more attention to behavioral economics, which starts from the premise that economic decisions, like other aspects of human behavior, are influenced by irrational psychological factors.

Note: To visit Nouriel Roubini's highly informative blog, click here. For lots more on the financial crisis and bailout, click here.

US Treasury overpaid $78 bln under TARP-watchdog
2009-02-06, CNN News/Reuters
http://money.cnn.com/news/newsfeeds/articles/reuters/MTFH29185_2009-02-06_01-...

The U.S. Treasury looks to have overpaid financial institutions to the tune of $78 billion in carrying out capital injections last year, the head of a congressional oversight panel for the government's $700 billion bailout program told lawmakers. Elizabeth Warren, a Harvard law professor, said her group estimated the Treasury paid $254 billion in 2008 in return for stocks and warrants worth about $176 billion under the Troubled Asset Relief Program, or TARP. Warren said the Treasury, under then-Secretary Henry Paulson, misled the public about how it would price them. "Treasury simply did not do what it said it was doing ... They described the program one way, and they priced it another," Warren said at a hearing before the Senate Banking Committee. She added that Paulson "was not entirely candid" in describing TARP's bank capital injection program. Neil Barofsky, another watchdog for the TARP program, told the Senate committee his office is turning to criminal investigations. "That's going to be a large focus of my office," he said. Warren told the banking committee that after three months on the job, her panel is still not getting enough answers from Treasury. She described the bailout as "an opaque process at best." Barofsky raised concerns about potential fraud in one of several programs funded by bailout money -- the Federal Reserve's Term Asset-Backed Loan Facility (TALF).

Note: Was the overpayment by Treasury to Wall Street banks for nearly-worthless assets they created a mistake? Or was it the real, hidden purpose of TARP to pay the banks more for the assets than they are worth? For many revealing reports from reliable sources on the realities behind the Wall Street bailout, click here.

U.S. Pledges Top $7.7 Trillion to Ease Frozen Credit
2008-11-24, Bloomberg News
http://bloomberg.com/apps/news?pid=20601109&sid=arEE1iClqDrk

The U.S. government is prepared to provide more than $7.76 trillion on behalf of American taxpayers after guaranteeing $306 billion of Citigroup Inc. debt yesterday. The unprecedented pledge of funds includes $3.18 trillion already tapped by financial institutions in the biggest response to an economic emergency since the New Deal of the 1930s, according to data compiled by Bloomberg. The commitment dwarfs the plan approved by lawmakers, the Treasury Department’s $700 billion Troubled Asset Relief Program. Federal Reserve lending last week was 1,900 times the weekly average for the three years before the crisis. When Congress approved the TARP on Oct. 3, Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson acknowledged the need for transparency and oversight. Now, as regulators commit far more money while refusing to disclose loan recipients or reveal the collateral they are taking in return, some Congress members are calling for the Fed to be reined in. “Whether it’s lending or spending, it’s tax dollars that are going out the window and we end up holding collateral we don’t know anything about,” said Congressman Scott Garrett, a New Jersey Republican who serves on the House Financial Services Committee. “The time has come that we consider what sort of limitations we should be placing on the Fed so that authority returns to elected officials as opposed to appointed ones.”

Note: How is it possible that trillions of taxpayer dollars are being thrown around, yet Congress is not being told where the money is going? For revealing information on how the Fed manipulates government, click here.

Bailout Expands to Insurers
2008-10-25, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/10/24/AR20081024017...

The Treasury Department is dramatically expanding the scope of its bailout of the financial system with a plan to take ownership stakes in the nation's insurance companies, signaling new concerns about a sector of the economy whose troubles until now have been overshadowed by the banking industry, government and industry sources said. Insurers, including The Hartford, Prudential and MetLife, have pushed the Bush administration to include them in the plan. Many firms have taken losses from mortgage-related securities and other investments and are struggling to replenish their coffers. The new initiative underscores the growing range of problems that Treasury is scrambling to address with the $700 billion allocated by Congress this month. The shape of the plan has changed repeatedly since Treasury Secretary Henry M. Paulson Jr. introduced it last month as an effort to rescue banks by buying their troubled mortgage-related assets. That original mandate has now been pushed aside by a plan to take equity stakes in banks and insurance companies, and other businesses are lobbying to be included. The government has been forced to expand the plan partly because the federal guarantees previously given some institutions, such as banks, have put other companies and financial sectors at a disadvantage, making them less attractive to uneasy investors. The cost of saving the country's largest insurer continues to rise. Senior managers at troubled insurance giant American International Group warned the Federal Reserve yesterday that the company would probably need more taxpayer money than the $123 billion in rescue loans the government has provided.

Note: For lots more highly revealing reports on the Wall Street bailout, click here.

Gifts to Pet Charities Keep Lawmakers Happy
2008-10-19, New York Times
http://www.nytimes.com/2008/10/19/us/politics/19charity.html?partner=rssuserl...

They do not seem the most likely classical music patrons: Northrop Grumman, General Dynamics, Boeing and Lockheed Martin. But together, these defense contractors are donating hundreds of thousands of dollars to the symphony orchestra in Johnstown, Pa., underwriting performances of Mozart and Wagner in this struggling former steel town. A defense lobbying firm, the PMA Group, even sprang for a champagne reception at the symphony’s opera festival last month. Company representatives say they are being generous corporate citizens. But the orchestra is also a beloved charity of Representative John P. Murtha, Democrat of Pennsylvania, whose Congressional committee hands out lucrative defense contracts, and whose wife, Joyce, is a major booster of the symphony. For the first time, corporations and their lobbyists are being required to disclose donations they make to the favorite causes of House and Senate members, and a review of thousands of pages of records shows the extent — and lavishness — of this once hidden practice. During the first six months of 2008, lobbyists, corporations and interest groups gave approximately $13 million to charities and nonprofit organizations in honor of more than 200 members of the House and Senate. The donations came from firms with numerous interests before the Congress, such as Wal-Mart, the Ford Motor Company, Kraft Foods and Pfizer, and were received by charities ... as well as local groups controlled by members of Congress or those close to them.

Note: For revelations of corporate corruption from major media sources, click here.

Cheney Colleague Admits Bribery in Halliburton Oil Deals
2008-09-04, The Independent (One of the U.K.’s leading newspapers)
http://www.independent.co.uk/news/world/americas/cheney-colleague-admits-brib...

A former colleague of the US Vice-President, Dick Cheney, has pleaded guilty to funnelling millions of dollars in bribes to win lucrative contracts in Nigeria for Halliburton, during the period in the Nineties when Mr Cheney ran the giant oil and gas services company. Albert Stanley, who was appointed by Mr Cheney as chief executive of Halliburton's subsidiary KBR, admitted using a north London lawyer to channel payments to Nigerian officials as part of a bribery scheme that landed some $6bn of work in the country over a decade. Mr Cheney … led Halliburton from 1995 until returning to government in 2000. He had previously been Defence Secretary under the first President George Bush, and the links with Halliburton have been a constant thorn in the side of the current administration as the company has gone on to win billions of dollars of contracts in Iraq and other US military spheres. The corruption scandal … centres on more than $180m channelled into Nigeria via intermediaries between 1994 … and 2004. Prosecutors allege that the payments were vital to a KBR-led consortium securing a succession of construction projects related to a liquefied natural gas plant at Bonny Island, on the Atlantic coast of Nigeria.

California medical schools earn A's in conflict grading
2008-06-04, San Francisco Chronicle (San Francisco's leading newspaper
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/06/04/BUV3112O9V.DTL

Drug companies shower medical school faculty members with pens, pricey dinners, free samples and other inducements to influence their prescribing patterns, an organization of U.S. medical students says. The med students are now trying to erase that pattern by grading their teachers. The American Medical Student Association issued its second annual report card ... on the conflict-of-interest policies maintained at 150 universities that grant a medical degree. California dominated the honor roll. UC Davis, UCSF and UCLA captured three of the seven A grades across the country. But only 15 percent of U.S. medical schools made the top of the class with a grade of A or B, based on their adoption of rules such as barring drug companies from distributing lavish gifts to physicians. Sixty of the schools, or 40 percent, got an F on the student association's 2008 PharmFree Scorecard. The American Medical Student Association started its PharmFree campaign in 2002 after members shared their concerns about interactions they observed between their medical professors and drug industry representatives. The Association of American Medical Colleges in April proposed that all med schools adopt policies to prevent drug marketing efforts from distorting the educational environment. The proposed rules would restrict industry funding of seminars, forbid companies from selecting the recipients of scholarships they fund and strongly discourage medical school faculty members from participating in industry-sponsored speakers' bureaus.

Note: For a treasure trove of important reports on health issues from reliable sources, click here.

Firms Seek Patents on 'Climate Ready' Altered Crops
2008-05-13, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/05/12/AR20080512029...

A handful of the world's largest agricultural biotechnology companies are seeking hundreds of patents on gene-altered crops designed to withstand drought and other environmental stresses, part of a race for dominance in the potentially lucrative market for crops that can handle global warming. Three companies -- BASF of Germany, Syngenta of Switzerland and Monsanto of St. Louis -- have filed applications to control nearly two-thirds of the climate-related gene families submitted to patent offices worldwide, according to the report by the Ottawa-based ETC Group, an activist organization that advocates for subsistence farmers. Many of the world's poorest countries, destined to be hit hardest by climate change, have rejected biotech crops, citing environmental and economic concerns. Importantly, gene patents generally preclude the age-old practice of saving seeds from a harvest for replanting, requiring instead that farmers purchase the high-tech seeds each year. The ETC report concludes that biotech giants are hoping to leverage climate change as a way to get into resistant markets, and it warns that the move could undermine public-sector plant-breeding institutions such as those coordinated by the United Nations and the World Bank, which have long made their improved varieties freely available. "When a market is dominated by a handful of large multinational companies, the research agenda gets biased toward proprietary products," said Hope Shand, ETC's research director. "Monopoly control of plant genes is a bad idea under any circumstance. During a global food crisis, it is unacceptable and has to be challenged."

Note: For many disturbing reports on risks from genetic engineering from major media sources, click here.

Bush administration rules limit lawsuits
2008-05-13, Boston Globe/Associated Press
http://www.boston.com/business/articles/2008/05/13/bush_administration_rules_...

Faced with an unfriendly Congress, the Bush administration has found another, quieter way to make it more difficult for consumers to sue businesses over faulty products. It's rewriting the bureaucratic rulebook. Lawsuit limits have been included in 51 rules proposed or adopted since 2005 by agency bureaucrats governing just about everything Americans use: drugs, cars, railroads, medical devices and food. Decried by consumer advocates and embraced by industry, the agencies' use of the government's rule-making authority represents the administration's final act in a long-standing drive to shield companies from lawsuits. Of the 51 regulations, 41 came from the Food and Drug Administration and the National Highway Traffic Safety Administration, or NHTSA. Underlying this bureaucratic version of lawsuit reform is the concept of federal preemption. Rooted in the Supremacy Clause of the Constitution, federal preemption refers to circumstances in which federal law and regulation trump state law, in this instance state laws that govern when one person may be held liable for another's injury. An expansive interpretation of preemption leaves little room for consumers to sue, and that is what the national trial lawyers group, the American Association for Justice, says is taking place. Jon Haber, AAJ's chief executive officer, says the agencies are engaging in "a brazen end run around Congress, the Constitution and the states in an effort to let negligent corporations off the hook and knowingly put consumers at risk."

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

Nanoparticles scrutinized for health effects
2008-05-12, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2008/05/12/BU4P10BB88.DTL

Windows cleaned by raindrops, white sofas immune to red wine spills, tiles protected from limescale buildup -- new products created from minute substances called nanoparticles are making such domestic dreams come true. Based on tiny particles 10,000 times thinner than a strand of hair, ... nanoparticles are showing up in everything from fabric coatings to socks to plush teddy bears. But some scientists are concerned that these seemingly magical materials are hitting the market before their effects on human health and the environment have been sufficiently studied. The few scientific reports available suggest that nanoparticles can pose a threat to human health and to the environment. For example, fish swimming in water containing modest amounts of fullerenes, soccer-ball-shaped nanoparticles made out of 60 carbon atoms, showed a large increase in brain damage. These are the same types of fullerenes being used in various skin products. From the skin, they can travel through the lymphatic duct system to lymph nodes and eventually end up in organs such as the liver, kidney and spleen. When inhaled, nanoparticles will go deeper into the lungs than larger particles and reach more sensitive parts. Because of that, scientists are particularly concerned about nanoparticles being used in spray products. "We have research showing that as a material shrinks in size, it becomes more harmful to the lungs. Nanoparticles tend to be more inflammatory to the lung, and it seems as if the lung has to work harder to get rid of them," said Andrew Maynard, chief science adviser at the Project on Emerging Nanotechnologies in Washington.

Note: For a treasure trove of health reports from major media, click here.

FDA warns Merck to fix vaccine plant problems
2008-04-30, San Francisco Chronicle/Associated Press
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2008/04/30/financial/f084419...

The Food and Drug Administration has ordered Merck & Co. to correct numerous manufacturing deficiencies at its main vaccine plant. The agency ... released a warning letter sent to Merck's chief executive, Richard T. Clark, that states FDA inspectors determined manufacturing rules are not being followed at the plant in West Point, Pa., just outside Philadelphia. The plant, which recalled two vaccines in December over sterility problems, makes a number of children's vaccines and four for adults. The nine-page letter states FDA found "significant objectionable conditions" in the manufacture of vaccines and drug ingredients during repeated inspections from Nov. 26 to Jan. 17. According to the heavily redacted warning letter, Merck officials didn't thoroughly investigate when vaccine batches inexplicably failed to meet specifications, even if batches had been distributed, and some combination measles-mumps-rubella shots that failed "visual inspection for critical defects" were distributed anyway. Production of two vaccines made at West Point — PedvaxHIB, to prevent Haemophilus influenza type B, and Comvax, a combination vaccine for Haemophilus B and hepatitis B — stopped last year and 1.2 million doses of them were recalled after a sterility problem was discovered in October. The plant also makes ProQuad, which protects children against measles, mumps, rubella and chickenpox; hepatitis A, hepatitis B and meningitis vaccines for children and adults; and Gardasil, to protect young women against cervical cancer.

Note: For further revelations from reliable sources on the dangers of vaccines, click here.

A Bailout. For Everyone.
2008-03-12, Washington Post
http://www.washingtonpost.com/wp-dyn/content/story/2008/03/11/ST2008031103060...

Last week, it was a $200 billion cash-for-bond swap for the banks. This week, it was a $200 billion bond-for-bond swap for the big investment houses. If they keep this up, pretty soon you'll be able to walk into any Federal Reserve bank and hock that diamond brooch you inherited from Aunt Mildred. Forget all that nonsense about the Bernanke Fed being too timid or behind the curve. In the face of what is turning into the most serious financial market crisis since the Great Depression, the Fed has been more aggressive and more creative in using its limitless balance sheet -- in effect, its ability to print money -- than at any time in history. We can argue till the cows come home about whether this is a bailout for Wall Street. It is -- but only to the extent that it is also a bailout for all of us, meant to prevent a financial and economic meltdown that drags everyone down with it. In broad strokes, we're going through a massive "de-leveraging" of the economy, wringing out trillions of dollars of debt that had artificially driven up the price of real estate and financial assets, and, more generally, allowed Americans to live beyond their means. Fed officials warn that this de-leveraging is nowhere near finished. It's anyone's guess how long this credit crunch will last, but the chances are that we'll have several more market meltdowns and Fed rescues before it's over, probably in the fall. Until then, the dollar will continue to get hammered and stocks will continue their fitful decline. And if the last two financially induced recessions are any guide, it will be well into 2009 before the economy hits bottom, followed by a couple of years of slow growth and "jobless" recovery.

Note: The title of this article is quite revealing. A bailout for the big banks is considered to be a bailout for everyone. If you believe this, we most highly encourage you to read our powerful two-page summary of the banking cover-up available here.

FDA to Back Food From Cloned Animals
2008-01-05, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/01/04/AR20080104036...

The Food and Drug Administration is set to announce as early as next week that meat and milk from cloned farm animals and their offspring can start making their way toward supermarket shelves. The decision would be a notable act of defiance against Congress, which last month passed appropriations legislation recommending that any such approval be delayed pending further studies. Moreover, the Senate version of the Farm bill ... contains stronger, binding language that would block FDA action on cloned food, probably for years. The FDA has hinted strongly in the past year that it is ready to lift its "voluntary moratorium" on the marketing of milk and meat from clones and their offspring, saying that the science led them to that decision. But public opinion has been negative on the issue, with some saying that not enough safety studies have been conducted and others concerned about the health of the clones, which are far more likely than ordinary farm animals to die early in life. A handful of U.S. companies have pushed for marketing approval. Margaret Mellon of the Union of Concerned Scientists, an advocacy group, said she had read the entire 678-page draft risk assessment and found it to be "long on assumptions and short on data, and especially short on the data that are directly relevant to food consumption safety." Of particular concern, she said, was that even though the vast majority of clones die either before birth or soon after, those that survive are deemed normal. She said the FDA should withhold approval at least until it has a regulatory plan in place that will give it an ability to track food from clones and watch for human health impacts. Others have called for mandatory labeling so consumers can avoid products from clones. The FDA has said that lacking any safety concerns, it will not demand such labels. The Agriculture Department has also declared that meat from clones cannot be deemed organic.

Note: For lots more reliable information on how big business takes huge risks with the food we eat, click here.

Big Brother Spying on Americans' Internet Data?
2007-11-07, ABC News
http://abcnews.go.com/Politics/Story?id=3833172

According to a former AT&T employee, the government has warrantless access to a great deal of Internet traffic should they care to take a peek. As information is traded between users it flows also into a locked, secret room on the sixth floor of AT&T's San Francisco offices and other rooms around the country -- where the U.S. government can sift through and find the information it wants, former AT&T employee Mark Klein alleged Wednesday at a press conference on Capitol Hill. "An exact copy of all Internet traffic that flowed through critical AT&T cables -- e-mails, documents, pictures, Web browsing, voice-over-Internet phone conversations, everything -- was being diverted to equipment inside the secret room," he said. Klein ... said that as an AT&T technician overseeing Internet operations in San Francisco, he helped maintain optical splitters that diverted data en route to and from AT&T customers. One day he found that the splitters were hard-wired into a secret room on the sixth floor. Documents he obtained [from] AT&T showed that highly sophisticated data mining equipment was kept there. Conversations he had with other technicians and the AT&T documents led Klein to believe there are 15 to 20 such sites nationwide, including in Seattle, Los Angeles, San Jose, San Diego and Atlanta, he said. Brian Reid, a former Stanford electrical engineering professor who appeared with Klein, said the NSA would logically collect phone and Internet data simultaneously because of the way fiber optic cables are intertwined. He said ... the system described by Klein suggests a "wholesale, dragnet surveillance." Of the major telecom companies, only Qwest is known to have rejected government requests for access to data. Former Qwest CEO Joseph Nacchio, appealing an insider trading conviction last month, said the government was seeking access to data even before Sept. 11.

Panel: Kids Shouldn't Use Cold Medicines
2007-10-20, San Francisco Chronicle/Associated Press
http://www.sfgate.com/cgi-bin/article.cgi?f=/n/a/2007/10/18/national/w000553D...

The medicines long used by parents to treat their children's coughs and colds don't work and shouldn't be used in those younger than 6, federal health advisers recommended. "The data that we have now is they don't seem to work," said Sean Hennessy, a University of Pennsylvania epidemiologist. The recommendation applies to medicines containing one or more of the following ingredients: decongestants, antihistamines and antitussives. In two separate votes ... the panelists said the medicines shouldn't be used in children younger than 2 or in those younger than 6. A third vote, to recommend against use in children 6 to 11, failed. The panel's advice dovetails with a petition filed by pediatricians that argued the over-the-counter medicines shouldn't be given to children younger than 6, an age group they called the most vulnerable to potential ill effects. The American Academy of Pediatrics and other groups back the petition. But FDA officials and panelists agreed there's no evidence they work in older children, either. Still, panelists held off from recommending against use in those 6 and older. And some said they feared such a prohibition wouldn't eliminate use of the medicines by parents. "They will administer adult products to their children because they work for them or feel they work for them," said the panel's patient and family representative, Amy Celento of Nutley, N.J. Some of the drugs — which include Wyeth's Dimetapp and Robitussin, Johnson & Johnson's Pediacare and Novartis AG's Triaminic products — have never been tested in children, something flagged as long ago as 1972 by a previous FDA panel. An FDA review found just 11 studies of children published over the last half-century. Those studies did not establish that the medicines worked in those cases, according to the agency.

Note: For a powerful exposé of corporate and government corruption in the health industry, click here.

U.S. Cites ‘Secrets’ Privilege to Stop Suit on Banking Records
2007-08-31, New York Times
http://www.nytimes.com/2007/08/31/us/nationalspecial3/31swift.html?ex=1346212...

The Bush administration ... plans to turn again to a legal tool, the “state secrets” privilege, to try to stop a suit against a Belgian banking cooperative [known as Swift] that secretly supplied millions of private financial records to the United States government. The “state secrets” privilege, allowing the government to shut down litigation on national security grounds, was once rarely used. The Bush administration has turned to it more than 30 times, seeking to end public discussion of cases like the claims of an F.B.I. whistle-blower and the abduction of a German terrorism suspect. Most notably, the administration has sought to use the privilege to kill numerous suits against telecommunications carriers over the National Security Agency’s eavesdropping program. Swift is considered the nerve center of the global banking industry, routing trillions of dollars each day among banks, brokerage houses and other financial institutions. Its partnership with Washington ... gave Central Intelligence Agency and Treasury Department officials access to millions of records on international banking transactions. Months after the Sept. 11, 2001, attacks, Swift began turning over large chunks of its database in response to a series of unusually broad subpoenas from the Treasury Department. Two American banking customers ... sued Swift on invasion-of-privacy grounds. [Steven E. Schwarz, the lawyer for the plaintiffs, said the Swift program] “is an Orwellian example of government overreaching and unfettered access to private financial information that is not consistent with the values upon which our country was founded. We’ve seen a real erosion of the ‘state secrets’ privilege in the last year. I think it is from overuse. We’ve seen it used in record numbers, in situations where it was inappropriate, and the courts are starting to recognize that.”

Bird flu vaccine recommended
2007-02-28, Los Angeles Times
http://www.latimes.com/news/nationworld/nation/la-sci-birdflu28feb28,1,454874...

A federal advisory committee on Tuesday recommended approval of the first bird flu vaccine for humans, despite concerns about its safety and evidence that the shots won't protect most people. The panel said although the vaccine had significant shortcomings, it was safe and effective for use during a pandemic or in high-risk situations, such as military deployment to regions facing an outbreak. The government plans to buy and stockpile enough doses for 20 million people. [The] director of the FDA's vaccine office told the panel that the vaccine was a stopgap measure. "There are numerous vaccines under development that are potentially better than this one," he said. The bird flu strain known as H5N1 originated in Asia. Although it rarely infects people, experts fear a mutation could make it easily transmissible, triggering a pandemic. From the start of 2003, 167 people, mostly in Asia, have died of the virus, according to the World Health Organization. In clinical trials, a two-shot series of the Sanofi vaccine provided protection in 45% of adults who received the highest dose, according to an FDA analysis this week. No serious side effects were detected among the 450 healthy adults who participated in a clinical test. However, some panel members were concerned that the trial was too small to reveal rare side effects. Some experts also worried about possible allergic reactions to the vaccine because it requires a massive dose — 12 times that of the seasonal inoculation.

Note: Who pays for and who profits from the purchase of these 20 million vaccine doses? It's pretty clear that the taxpayer covers the costs and the big drug companies make huge profits. Fear is quite useful for driving up profits. For lots more on profiteering from the avian flu, click here.

2 Ex-Enron Traders Get Probation
2007-02-14, CBS News/Associated Press
http://www.cbsnews.com/stories/2007/02/14/business/main2479660.shtml

Two of three former Enron Corp. traders accused of driving up energy prices during California's power crisis were each sentenced Wednesday to two years of court-supervised release in federal court. Timothy Belden ... was sentenced after pleading guilty in October 2002 to one count of conspiracy to commit wire fraud. Belden's plea was the first prosecution of anyone related to the West's energy crisis in 2000 and 2001. He had faced up to five years in prison, and must forfeit $2.1 million. The second defendant, Jeffrey Richter, was a lower-level trading manager ... who also pleaded guilty to two counts related to manipulating energy prices. He had faced up to five years and agreed to pay a $410,000 fine. Internal company memos describe how Belden's trading unit took power out of California at a time of rolling blackouts and shortages and sold it out of state to elude price caps. Enron bought California power at cheap, capped prices, routed it outside the state, then sold it back into California at vastly inflated prices. The crisis played a role in Pacific Gas & Electric Co.'s bankruptcy and will leave California consumers paying abnormally high electricity prices for years. Transcripts of Enron energy traders showed them openly discussing manipulating California's power market during profanity-laced telephone conversations in which they merrily gloated about ripping off “those poor grandmothers” during the energy crunch. On the calls, other traders openly and gleefully discussed creating congestion on transmission lines and taking generating units off-line to pump up electricity prices.

Note: So while California taxpayers cough up hundreds of millions of dollars as a result of Enron's scheming and thousands of employees across the U.S. lost their entire pensions, the result of the first prosecution of anyone related to the Enron scam is probation? For lots more on this, 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: 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.

Selling Sickness to the Well
2005-08-02, MSNBC News
http://www.msnbc.msn.com/id/8789159/site/newsweek/

A new book looks at how pharmaceutical companies are using aggressive marketing campaigns to turn more people into patients. In their new book, “Selling Sickness: How the World’s Biggest Pharmaceutical Companies Are Turning Us All Into Patients”, Ray Moynihan and Alan Cassels examine how the drug industry has transformed the way we think about physical and mental health and turned more and more of us each year into customers. Moynihan...a regular contributor to the British Medical Journal [discusses] how -- and why -- drug makers have begun targeting people who aren’t sick. The so-called preventives are where the big money are: like the bone-density drugs or the cholesterol [-lowering] drugs. Increasingly we’re seeing the marketing shift to those types of drugs. People talk about the "worried well." There are many ways in which the drug companies target those people. There’s an informal alliance between the drug companies and aspects of the medical profession and aspects of the patient advocacy world who all seem to have interests in defining more and more people as ill. Americans make up less than 5 percent of the world’s population but the U.S. makes up...half of total spending on drugs.

US regulator suppresses vital data on prescription drugs on sale in Britain
2005-06-12, The Independent (One of the UK's leading newspapers)
http://news.independent.co.uk/uk/health_medical/story.jsp?story=646243

Despite calls for more transparency after revelations about the side effects of ibuprofen, the FDA has withheld 28 pages of information on a new wave of painkillers. Vital data on prescription medicines found in millions of British homes has been suppressed by the powerful US drug regulators, even though the information could potentially save lives. An investigation by The Independent on Sunday shows that, under pressure from the pharmaceutical industry, the American Food and Drug Administration routinely conceals information it considers commercially sensitive, leaving medical specialists unable to assess the true risks. Dr Peter Juni, one of the team of Swiss investigators who helped to expose the risk of the new-generation drugs, claims his efforts were obstructed by the FDA. "Too often the FDA saw and continues to see the pharmaceutical industry as its customers, a vital source of funding for its activities, and not as a sector of society in need of strong regulation."

Fighting for the future of food
2004-11-07, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2004/11/07/LVG709K7MV1.DTL

"Just about everybody is pretty serious about their chow," says Deborah Koons Garcia, enjoying the understatement. No matter how serious they are, though, Garcia knows most people don't realize that genetically engineered foods have quietly slipped into much of the American food supply, mostly from corn and canola. They're in an estimated 60 percent of all processed foods. "We are at a crossroads," says Garcia. She's spent the last three years ... making "The Future of Food," a documentary about GMO (genetically modified organism) foods. "Someone needed to make this film, because if this technology isn't challenged and if this corporatization of our whole food system isn't stopped, at some point it will be too late," says Garcia. "It became clear that GMOs are really a much bigger issue ... And it was really clear that there hadn't been a really good film that told the whole story from the cellular, from the microscopic level, all the way up to the global," Garcia says. Her 90-minute documentary ... expresses a strong point of view against letting new life forms loose on the land without long-term testing of the health effects and real government controls, especially labeling of foods. Garcia threads a clear path through the history, science and politics of GMO foods to a clear call for action.

Note: To view this highly educational film, which may encourage you to change your eating habits, click here.

Schwarzenegger electricity plan fuels fears of another debacle
2003-10-11, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?file=/c/a/2003/10/11/MN20927.DTL

Gov.-elect Arnold Schwarzenegger is preparing a push to deregulate the state's electricity markets -- a move embraced by business leaders and some energy analysts but criticized by many Democrats and consumer advocates as a return to the failed policies that sparked California's energy crisis. "Deregulation has already cost the state $50 billion, give or take," said Mike Florio, senior attorney for The Utility Reform Network. "Why on earth anyone would want to do that again is mystifying to us." Florio also said he was suspicious of Schwarzenegger's idea because former Enron Corp. Chairman and CEO Ken Lay met with the actor and others in the spring of 2001, when Lay was pushing deregulation in California. Schwarzenegger has said he doesn't remember details of the meeting.

Note: What was Schwarzenegger doing meeting with the CEO of Enron well over two years before the recall vote which gave him the governorship of California? Could it be big business had plans for him?

Glaxo profits soar as drug firm charges NHS £6 for swine flu vaccine that costs £1 to make
2009-07-23, Daily Mail (One of the UK's largest-circulation newspapers)
http://www.dailymail.co.uk/news/article-1201450/GlaxoSmithKline-accused-profi...

Drugs giant GlaxoSmithKline was accused of cashing in on swine flu after it revealed its profits have risen 10 per cent since the virus was identified. It announced profits yesterday of £2.1billion in the past three months. Sales of vaccines and antiviral drugs could push the figure up even higher. GSK chief executive Andrew Witty admitted the swine flu crisis would be a 'significant financial event for the company'. Sales of the company's Relenza inhaler, an alternative to Tamiflu used by pregnant women among others, are expected to top £600million. And this figure could be boosted by up to £2billion once deliveries of the swine flu vaccine begin in September. But Mr Witty denied Europe's biggest drugs company was gearing up to cash in. He admitted it was planning to charge the UK £6 a jab, but vociferously denied reports it cost a pound to manufacture. Liberal Democrat health spokesman Norman Lamb said: 'This is clearly a bonanza for the company. This is a staggeringly substantial return. I will write to the National Audit Office to determine whether we got the best deal for the taxpayer.' Susi Squire of the TaxPayers' Alliance said: 'We need an assurance from the Government that they have got the most competitive rate out of GlaxoSmith-Kline.' Geoff Martin of London Health Emergency said: 'It's a scandal that any company could use the swine flu pandemic as an opportunity to jack up profits. 'The Government should step in and impose a windfall tax on private companies that have hit the jackpot as a result of the flu crisis.'

Note: For more on profiteering in the vaccination industry, click here.

Only a Hint of Roosevelt in Financial Overhaul
2009-06-18, New York Times
http://www.nytimes.com/2009/06/18/business/18nocera.html

Three quarters of a century ago, President Franklin Roosevelt earned the undying enmity of Wall Street when he used his enormous popularity to push through a series of radical regulatory reforms that completely changed the norms of the financial industry. Wall Street hated the reforms, of course, but Roosevelt didn’t care. Wall Street and the financial industry had engaged in practices they shouldn’t have, and had helped lead the country into the Great Depression. Those practices had to be stopped. To the president, that’s all that mattered. On Wednesday, President Obama unveiled what he described as “a sweeping overhaul of the financial regulatory system, a transformation on a scale not seen since the reforms that followed the Great Depression.” In terms of the sheer number of proposals, outlined in an 88-page document the administration released on Tuesday, that is undoubtedly true. But in terms of the scope and breadth of the Obama plan — and more important, in terms of its overall effect on Wall Street’s modus operandi — it’s not even close to what Roosevelt accomplished during the Great Depression. Rather, the Obama plan is little more than an attempt to stick some new regulatory fingers into a very leaky financial dam rather than rebuild the dam itself. Everywhere you look in the plan, you see the same thing: additional regulation on the margin, but nothing that amounts to a true overhaul. The plan places enormous trust in the judgment of the Federal Reserve — trust that critics say has not really been borne out by its actions during the Internet and housing bubbles. Firms will have to put up a little more capital, and deal with a little more oversight, but once the financial crisis is over, it will, in all likelihood, be back to business as usual.

Note: To watch the Inspector General of the Federal Reserve testify to Congress that she knows pracitcally nothing of trillions of dollars that are unaccounted for, click here. For many revealing reports from reliable sources on the hidden realities of the continuing taxpayer bailout of the biggest financial corporations, click here.

Meet Your New Farmer: Hungry Corporate Giant
2009-06-12, New York Times
http://movies.nytimes.com/2009/06/12/movies/12food.html

Forget buckets of blood. Nothing says horror like one of those tubs of artificially buttered, nonorganic popcorn at the concession stand. That, at least, is one of the unappetizing lessons to draw from one of the scariest movies of the year, “Food, Inc.,” an informative ... documentary about the big business of feeding or, more to the political point, force-feeding, Americans all the junk that multinational corporate money can buy. You’ll shudder, shake and just possibly lose your genetically modified lunch. The director Robert Kenner jumps all over the food map, from industrial feedlots where millions of cruelly crammed cattle mill about in their own waste until slaughter, to the chains where millions of consumers gobble down industrially produced meat and an occasional serving of E. coli bacteria. The voice in the opening belongs to the ethical epicurean and locavore champion Michael Pollan, author of In Defense of Food and The Omnivore’s Dilemma. Mr. Pollan ... is a great strength of “Food, Inc.,” as is one of its co-producers, Eric Schlosser, the author of Fast Food Nation. [They], together with Mr. Kenner, chart how and why the villains not only outnumber the heroes in contemporary food production, but also how and why they outbluff, outmuscle and outspend their opponents by billions of often government-subsidized dollars. The movie takes a look at the animal abuse in industrial food production — including clandestine images of sick and crippled cows being prodded to join the rest of the ill-fated herd — but its main focus is on the human cost. It’s a cost visible in the rounded bodies of a poor family that eats cheap if filling fast-food burgers for breakfast and in the obscured faces of farmers too frightened to go on record about Monsanto, the agricultural biotech giant.

Note: For another excellent review of this important film, click here.

A lesson for Detroit - Tata Nano
2009-03-31, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/03/30/EDTK16PF19.DTL

Don't dismiss the Nano as a small, poor man's car that will cause a mere ripple on the world market. The Nano is a radical innovation, with the potential to revolutionize automobile manufacturing and distribution. The tiny Nano incorporates three innovations, which together make it huge. First, the Nano uses a modular design that enables a knowledgeable mechanic to assemble the car in a workshop. Thus, Tata can outsource assembly to independent workshops that can then assemble the car on buyers' orders. This innovation not only removes costly labor from the manufacturer's side but also allows for distributed entrepreneurship on the dealer's side. Second, the low cost of the Nano comes from a combination of its no-frills design and its use of numerous lighter components, from simple door handles and bulbs to the transmission and engine parts. The lighter vehicle enables a more energy-efficient engine that gets 67 miles to the gallon. Third, at just 122 inches long, the Nano is one of the shortest four-passenger cars on the market, yet it allows for ample interior space. These innovations have enabled Tata to introduce the Nano at a base price of $2,000. The low price has triggered worldwide interest in the car and a surge of orders, even in a struggling auto market. The Nano has the potential of flourishing despite the recession or softening its sting because of its extraordinary low price. It's a radical innovation precisely because it is a poor man's car.

Note: For a treasure trove of inspiring developments in new energy and automotive technologies, click here.

Inquiry Asks Why A.I.G. Paid Banks
2009-03-27, New York Times
http://www.nytimes.com/2009/03/27/business/27cuomo.html?partner=rss&emc=rss&p...

Members of Congress and the New York State attorney general demanded detailed information Thursday on how tens of billions of taxpayer dollars flowed through the American International Group during its crisis last fall and ended up in the coffers of several dozen big banks, shielding them from losses. The new inquiries shine a spotlight on a question that is exponentially bigger, in dollars, than the $165 million in bonuses that A.I.G. paid out this month, but which has been overshadowed until now by the uproar over the bonuses. “We would like to know if the A.I.G. counterparty payments, as made, were in the best interests of the taxpayers who provided the funding,” said Representative Elijah E. Cummings, Democrat of Maryland, in a letter to Neil M. Barofsky, the special inspector general for the Troubled Asset Relief Program. The banks and investment firms that ended up with A.I.G.’s bailout money last fall were, in many cases, counterparties to derivatives contracts it had sold, known as credit-default swaps, which guaranteed the value of assets in their investment portfolios. They included Wall Street firms, like Goldman Sachs, JPMorgan Chase and Merrill Lynch, that have successfully resisted efforts to regulate credit derivatives in the past. In several hearings this month, members of Congress said they believed the derivatives had often been used to speculate, not to manage risk. They have expressed outrage that A.I.G.’s trading partners got 100 cents on the dollar for their money-losing trades when ordinary Americans paying for the bailout have suffered big losses in their 401(k) accounts and other investments.

Note: For many revealing reports on the realities behind the Wall Street bailouts, click here.

IRS defends drop in audits of millionaires
2009-03-22, MSNBC/Associated Press
http://www.msnbc.msn.com/id/29831158

The Internal Revenue Service is not living up to its pledge to crack down on wealthy tax cheats, an IRS watchdog group says, citing a drop in audits of millionaires last year. Those with incomes of $1 million and above had a 5.6 percent chance of getting audited in fiscal year 2008, which ended last September, down from 6.8 percent the previous year, according to IRS figures. The actual number of millionaires audited fell from 23,200 to 21,874; the number of millionaires filing tax returns grew from 339,138 to 392,776. "In the face of growing federal deficits and public calls to lower the tax gap — the amount of taxes due but not reported and paid — the drop in millionaire audits is surprising," said the Syracuse University-based Transactional Records Access Clearinghouse in a report Monday. It said the significant drop in audits of richer Americans contrasted with IRS statements last year that it was making strong progress in enforcement, especially of those with incomes of more than $1 million. The TRAC report said focus on high earner returns is critical because of the huge rewards. Among those millionaire audit cases where additional taxes were recommended, the average was $198,000 after face-to-face audits and $137,000 for audits done through correspondence. In total, the IRS collected $56.4 billion in enforcement revenues last year, down from $59.2 billion in 2007 and the first decline in collections in a decade.

Note: The highly important statistic only mentioned in passing here is "the number of millionaires filing tax returns grew from 339,138 to 392,776." That's an over-15% increase in the number of millionaires in one year, while most everyone else seems to be losing money. Hmmmm. Makes you wonder.

Surviving Recession: Medical research seen as lure in hard times
2009-03-13, Sacramento Bee (Sacramento, CA's leading newspaper)
http://www.sacbee.com/273/story/1696087.html

Retirement slammed Carole Jacko. Raising two grandchildren, she's too young for Medicare and too strapped to pay $600 a month for health insurance. So when a trip to the emergency room ended with a diagnosis of diabetes, Jacko found a creative solution. She became a medical guinea pig, offering herself to science in exchange for free medication, free doctor's visits and even a modest payment. With the economy careening and millions uninsured, some doctors and researchers believe the lure of volunteering for medical research is growing – and so are potential ethical pitfalls. "Sometimes desperation leads people to be poor shoppers," to gloss over risks or grasp at imagined benefits, said Kevin Weinfurt, a Duke University professor who focuses on medical decision-making and ethics. No regulations limit how much a person can be paid to take part in medical research. Researchers do not agree on how much money it takes to cross the line and exert "undue influence" or coercion to get someone to enroll in a study. That's something federal regulations do forbid. "This is the most complicated issue in research ethics, and it's still an unsettled question," Weinfurt said. It has lingered for more than 100 years, since an Army surgeon named Walter Reed paid volunteers at a Cuban outpost $100 in gold to risk being infected with yellow fever. The men got another $100 if they contracted the disease, payable to themselves – or any designated survivor.

Note: For many reports on corruption in the pharmaceutical and medical industries from major media sources, click here.

Bailout Oversight Lacking, GAO Says
2008-12-03, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/12/02/AR20081202022...

The Bush administration has failed to adequately oversee its $700 billion bailout program and must move rapidly to guarantee that banks are complying with the plan's limits on conflicts of interest and lavish executive compensation, congressional investigators said yesterday. The new report by the Government Accountability Office, the nonpartisan investigative arm of Congress, said the Treasury Department has yet to impose necessary safeguards or decide how to determine whether the program is achieving its goals. The auditors said it was too soon for them to tell whether the bailout was working. "The rapid pace of implementation and evolving nature of the program have hampered efforts to put a comprehensive system of internal control in place," the report said. "Until such a system is fully developed and implemented, there is heightened risk that the interests of the government and taxpayers may not be adequately protected and that the program objectives may not be achieved in an efficient and effective manner." So far, the rescue package has provided at least $150 billion in capital infusions to 52 financial institutions, the auditors said. They added that no applications for funding were denied by the Treasury. The congressional auditors urged Treasury officials to determine how each bank receiving bailout money is using the money and whether they are using it in a way consistent with the intent of the law. Several congressional leaders have criticized financial firms for hoarding the money instead of using it to lend to borrowers.

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

Audit: Feds wasted millions on Katrina work
2008-09-10, MSNBC/Associated Press
http://www.msnbc.msn.com/id/26647780

The government wasted millions of dollars on four no-bid contracts it handed out for Hurricane Katrina work, including paying $20 million for a camp for evacuees that was never inspected and proved to be unusable, investigators say. A report by the Homeland Security Department's office of inspector general, obtained ... by The Associated Press is the latest to detail mismanagement in the multibillion-dollar Katrina hurricane recovery effort, which investigators have said wasted at least $1 billion. The review examined temporary housing contracts awarded without competition to Shaw Group Inc., Bechtel Group Inc., CH2M Hill Companies Ltd. and Fluor Corp. in the days immediately before and after the August 2005 storm that smashed into the U.S. Gulf Coast. It found that FEMA wasted at least $45.9 million on the four contracts that together were initially worth $400 million. FEMA subsequently raised the total amounts for the four contracts twice, both times without competition, to $2 billion and then $3 billion. FEMA did not always properly review the invoices submitted by the four companies, exposing taxpayers to significant waste and fraud, investigators wrote. In many cases, the agency also issued open-ended contract instructions for months without clear guidelines on what work was needed to be done and the appropriate charges. "We question how FEMA determined that the amounts invoiced were allowable and reasonable," the IG report states, warning that its review was limited in scope so that additional waste and fraud might yet to be found.

Note: For many more reports of government corruption from major media sources, click here.

KBR, Partner in Iraq Contract Sued in Human Trafficking Case
2008-08-28, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/08/27/AR20080827032...

A Washington law firm filed a lawsuit yesterday against KBR, one of the largest U.S. contractors in Iraq, alleging that the company and its Jordanian subcontractor engaged in the human trafficking of Nepali workers. Agnieszka Fryszman, a partner at Cohen, Milstein, Hausfeld & Toll, said 13 Nepali men, between the ages of 18 and 27, were recruited in Nepal to work as kitchen staff in hotels and restaurants in Amman, Jordan. But once the men arrived in Jordan, their passports were seized and they were told they were being sent to a military facility in Iraq, Fryszman said. As the men were driven in cars to Iraq, they were stopped by insurgents. Twelve were kidnapped and later executed, Fryszman said. The thirteenth man survived and worked in a warehouse in Iraq for 15 months before returning to Nepal. The lawsuit, filed in a federal court in California on behalf of the workers' families and the survivor, claims that the trafficking scheme was engineered by KBR and its Jordanian subcontractor, Daoud & Partners, according to Fryszman. This spring, an administrative law judge at the Department of Labor, which has jurisdiction over cases that involve on the job injuries at overseas military bases, ordered Daoud to pay $1 million to the families of 11 of the victims.

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

Sovereign Funds Become Big Speculators
2008-08-12, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2008/08/11/AR20080811024...

Sovereign wealth funds, the massive investment pools run by foreign governments, are now among the biggest speculators in the trading of oil and other vital goods like corn and cotton in the United States, according to interviews with brokers who handle their investments at leading Wall Street banks, veteran traders and congressional investigators. Some lawmakers say the unregulated activity of sovereign wealth funds and other speculators such as hedge funds has contributed to the dramatic swing in oil prices in recent months. The agency regulating the market said it had not picked up on this activity by sovereign wealth funds. In a June letter, the Commodity Futures Trading Commission told lawmakers that its monitoring showed that these funds were not a significant factor in commodity trading. But the CFTC is not detecting the growing influence of foreign funds because they invest through Wall Street brokers known as "swap dealers" who often operate on unregulated markets. For this reason, the extent of their activities may be known only to the swap dealers at investment banks such as Goldman Sachs, Lehman Brothers and Morgan Stanley, which handle such transactions. The foreign funds involved in commodity trading are ... mainly from countries ... in Asia that do not already make money from producing oil. While it is difficult to quantify how large foreign funds have become, they now represent 12 percent or more of the overall commodity business for some of the largest investment banks, said an industry veteran who spoke on condition of anonymity.

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

U.S. Advised Iraqi Ministry on Oil Deals
2008-06-30, New York Times
http://www.nytimes.com/2008/06/30/world/middleeast/30contract.html?partner=rs...

A group of American advisers led by a small State Department team played an integral part in drawing up contracts between the Iraqi government and five major Western oil companies to develop some of the largest fields in Iraq, American officials say. The disclosure, coming on the eve of the contracts’ announcement, is the first confirmation of direct involvement by the Bush administration in deals to open Iraq’s oil to commercial development and is likely to stoke criticism. In their role as advisers to the Iraqi Oil Ministry, American government lawyers and private-sector consultants provided template contracts and detailed suggestions on drafting the contracts, advisers and a senior State Department official said. At a time of spiraling oil prices, the no-bid contracts, in a country with some of the world’s largest untapped fields and potential for vast profits, are a rare prize to the industry. The contracts are expected to be awarded Monday to Exxon Mobil, Shell, BP, Total and Chevron, as well as to several smaller oil companies. The deals have been criticized by opponents of the Iraq war, who accuse the Bush administration of working behind the scenes to ensure Western access to Iraqi oil fields even as most other oil-exporting countries have been sharply limiting the roles of international oil companies in development. Though enriched by high prices, the companies are starved for new oil fields. American military officials say the pipelines [in Iraq] now have excess capacity, waiting for output to increase at the fields.

Note: For many revealing reports from reliable sources on the real reasons behind the war in Iraq, click here.

The Business of Intelligence Gathering
2008-06-15, New York Times
http://www.nytimes.com/2008/06/15/business/15shelf.html?partner=rssuserland&e...

America is ruled by an “intelligence-industrial complex” whose allegiance is not to the taxpaying public but to a cabal of private-sector contractors. That is the central thesis of Spies for Hire: The Secret World of Intelligence Outsourcing by Tim Shorrock, ... an investigative journalist. His book [provides a] disturbing overview of the intelligence community, also known as “the I.C.” Mr. Shorrock says our government is outsourcing 70 percent of its intelligence budget, or more than $42 billion a year, to a “secret army” of corporate vendors. Because of accelerated privatization efforts after 9/11, these companies are participating in covert operations and intelligence-gathering activities that were considered “inherently governmental” functions reserved for agencies like the Central Intelligence Agency, he says. Some of the book’s most intriguing assertions concern the permeating influence of the consulting firm Booz Allen Hamilton. In 2006, Mr. Shorrock reports, Booz Allen amassed $3.7 billion in revenue, much of which came from classified government contracts exempt from public oversight. Among its more than 18,000 employees are R. James Woolsey, the former C.I.A. director, and Joan Dempsey, a former longtime United States intelligence official who declared in a 2004 speech, “I like to refer to Booz Allen as the shadow I.C.” The “revolving door” between Booz Allen and the I.C. is personified by Mike McConnell, who joined the firm after serving as head of the National Security Agency under President Bill Clinton, only to return as director of national intelligence under President Bush.

Note: For revealing reports on government corruption from reliable sources, click here.

Monsanto’s Harvest of Fear
2008-05-01, Vanity Fair magazine
http://www.vanityfair.com/politics/features/2008/05/monsanto200805

Gary Rinehart clearly remembers the summer day in 2002 when the stranger walked in and issued his threat. Rinehart was behind the counter of the Square Deal, his “old-time country store,” as he calls it, on the fading town square of Eagleville, Missouri, a tiny farm community 100 miles north of Kansas City. As Rinehart would recall, the man began verbally attacking him, saying he had proof that Rinehart had planted Monsanto’s genetically modified (G.M.) soybeans in violation of the company’s patent. Better come clean and settle with Monsanto, Rinehart says the man told him—or face the consequences. But Rinehart wasn’t a farmer. He wasn’t a seed dealer. He hadn’t planted any seeds or sold any seeds. He owned a small—a really small—country store in a town of 350 people. On the way out the man kept making threats. Rinehart says he can’t remember the exact words, but they were to the effect of: “Monsanto is big. You can’t win. We will get you. You will pay.” Scenes like this are playing out in many parts of rural America these days as Monsanto goes after farmers, farmers’ co-ops, seed dealers—anyone it suspects may have infringed its patents of genetically modified seeds. As interviews and reams of court documents reveal, Monsanto relies on a shadowy army of private investigators and agents in the American heartland to strike fear into farm country. They fan out into fields and farm towns, where they secretly videotape and photograph farmers, store owners, and co-ops; infiltrate community meetings; and gather information from informants about farming activities. Farmers say that some Monsanto agents pretend to be surveyors. Others confront farmers on their land and try to pressure them to sign papers giving Monsanto access to their private records.

Note: For a revealing summary on the health impacts of genetically modified food, click here.

Congress Examines Role Of Industry in Regulation
2008-04-27, Washington Post
http://www.washingtonpost.com/wp-dyn/content/story/2008/04/26/ST2008042602242...

Despite more than 100 published studies by government scientists and university laboratories that have raised health concerns about a chemical compound that is central to the multibillion-dollar plastics industry, the Food and Drug Administration has deemed it safe largely because of two studies, both funded by an industry trade group. The compound, bisphenol A (BPA), has been linked to breast and prostate cancer, behavioral disorders and reproductive health problems in laboratory animals. The FDA's position on the compound was called into question earlier this month when a National Institutes of Health panel issued a draft report linking BPA to health concerns. As part of his investigation, Rep. John D. Dingell (D-Mich.), chairman of the House Energy and Commerce Committee, wants to examine the role played by the Weinberg Group, a Washington firm that employs scientists, lawyers and public relations specialists to defend products from legal and regulatory action. The firm has worked on Agent Orange, tobacco and Teflon, among other products linked to health hazards, and congressional investigators say it was hired by Sunoco, a BPA manufacturer. From 1997 to 2005, 116 studies of the compound were published, many of them focused on its effects in low doses. Of those funded by government, 90 percent showed a health effect linked to BPA. None of the industry-funded studies found an effect; all of them said BPA is safe. There is a clear bias in studies funded by industry, said [David] Michaels, who ... runs the Project on Scientific Knowledge and Public Policy at George Washington University and wrote the book Doubt is Their Product, which details how various industries have used science to stave off regulation.

Note: For many powerful reports on corporate corruption, click here.

Colorado Proposes Tough Law on Executive Accountability
2008-04-01, New York Times
http://www.nytimes.com/2008/04/01/business/01fraud.html?ex=1364702400&en=6a78...

For 30 years, Lew Ellingson loved being a telephone man. His job splicing phone cables was one that he says gave him “a true sense of accomplishment,” first for Northwestern Bell, then US West and finally Qwest Communications International. But by the time Mr. Ellingson retired from Qwest last year at 52, he had grown angry. An insider trading scandal had damaged the company’s reputation, and the life savings of former colleagues had evaporated in the face of Qwest’s stock troubles. “It was a good place,” he said wistfully. “And then something like this happened.” Now, Mr. Ellingson is the public face of a proposed ballot measure in Colorado that seeks to create what supporters hope will be the nation’s toughest corporate fraud law. Buttressed by local advocacy groups and criticized by a Colorado business organization, the measure would make business executives criminally responsible if their companies run afoul of the law. It would also permit any Colorado resident to sue the executives under such circumstances. Proceeds from successful suits would go to the state. If passed by voters in November, the proposal would leave top business officers [with] unprecedented individual accountability, said Mr. Ellingson. “If nothing else, these folks in charge of the corporations and companies will think twice about cutting corners to make themselves look more profitable than they really are,” he said. The plight of Mr. Ellingson’s former employer, Qwest, based in Denver, was a motivation for the proposal. Last April, a jury in Denver convicted Qwest’s former chief executive, Joseph P. Nacchio, of 19 of 42 counts of insider trading. Mr. Nacchio was sentenced to six years in prison and ordered to pay a fine of $19 million and forfeit $52 million in money he earned from stock sales in 2001.

Note: As reported in the Washington Post, Joseph P. Nacchio, the former Qwest CEO, has claimed that he was singled out for prosecution because he refused to cooperate with the National Security Agency's electronic surveillance of American citizens, which began before 9/11.

Companies Seeking Immunity Donate to Senator
2007-10-23, New York Times
http://www.nytimes.com/2007/10/23/washington/23nsa.html?ex=1350792000&en=f9b3...

Executives at the two biggest phone companies contributed more than $42,000 in political donations to Senator John D. Rockefeller IV this year while seeking his support for legal immunity for businesses participating in National Security Agency eavesdropping. The surge in contributions came from a Who’s Who of executives at the companies, AT&T and Verizon, starting with the chief executives and including at least 50 executives and lawyers at the two utilities, according to campaign finance reports. The money came primarily from a fund-raiser that Verizon held for Mr. Rockefeller in March in New York and another that AT&T sponsored for him in May in San Antonio. Mr. Rockefeller, chairman of the Senate Intelligence Committee, [has emerged] as the most important supporter of immunity in [the Senate]. Mr. Rockefeller’s office said ... that the sharp increases in contributions from the telecommunications executives had no influence on his support for the immunity provision. “Any suggestion that Senator Rockefeller would make policy decisions based on campaign contributions is patently false,” Wendy Morigi, a spokeswoman for him, said. AT&T and Verizon have been lobbying hard to insulate themselves from suits over their reported roles in the security agency program by gaining legal immunity from Congress. The effort included meetings with Mr. Rockefeller and other members of the intelligence panels. Mr. Rockefeller received little in the way of contributions from AT&T or Verizon executives before this year, reporting $4,050 from 2002 through 2006. From last March to June, he collected a total of $42,850 from executives at the two companies. The increase was first reported by the online journal Wired, using data compiled by the Web site OpenSecrets.org. [Telecommunications] industry executives have given significant contributions to a number of other Washington politicians, including two presidential contenders, Senators Hillary Rodham Clinton and John McCain.

State Department Use of Contractors Leaps in 4 Years
2007-10-19, New York Times
http://www.nytimes.com/2007/10/24/washington/24contractor.html?ex=1350878400&...

Over the past four years, the amount of money the State Department pays to private security and law enforcement contractors has soared to nearly $4 billion a year from $1 billion, ... but ... the department had added few new officials to oversee the contracts. Auditors and outside exerts say the results have been vast cost overruns, poor contract performance and, in some cases, violence that has so far gone unpunished. A vast majority of the money goes to companies like DynCorp International and Blackwater [Worldwide] to protect diplomats overseas, train foreign police forces and assist in drug eradication programs. There are only 17 contract compliance officers at the State Department’s management bureau overseeing spending of the billions of dollars on these programs, officials said. Two new reports have delivered harsh judgments about the State Department’s handling of the contracts, including the protective services contract that employs Blackwater guards whose involvement in a Sept. 16 shooting in Baghdad has raised questions about their role in guarding American diplomats in Iraq. The ballooning budget for outside contracts at the State Department is emblematic of a broader trend, contracting experts say. The Bush administration has doubled the amount of government money going to all types of contractors to $400 billion, creating a new and thriving class of post-9/11 corporations carrying out delicate work for the government. But the number of government employees issuing, managing and auditing contracts has barely grown. “That’s a criticism that’s true of not just State but of almost every agency,” said Jody Freeman, an expert on administrative law at Harvard Law School.

An Opportunity for Wall St. in China’s Surveillance Boom
2007-09-07, New York Times
http://www.nytimes.com/2007/09/11/business/worldbusiness/11security.html?ex=1...

Li Runsen, the powerful technology director of China’s ministry of public security, is best known for leading Project Golden Shield, China’s intensive effort to strengthen police control over the Internet. But last month Mr. Li took an additional title: director for China Security and Surveillance Technology, a fast-growing company that installs and sometimes operates surveillance systems for Chinese police agencies, jails and banks, among other customers. The company has just been approved for a listing on the New York Stock Exchange. The company’s listing and Mr. Li’s membership on its board are just the latest signs of ever-closer ties among Wall Street, surveillance companies and the Chinese government’s security apparatus. Wall Street analysts now follow the growth of companies that install surveillance systems providing Chinese police stations with 24-hour video feeds from nearby Internet cafes. Hedge fund money from the United States has paid for the development of not just better video cameras, but face-recognition software and even newer behavior-recognition software designed to spot the beginnings of a street protest and notify police. Executives of Chinese surveillance companies say they are helping their government reduce street crime, preserve social stability and prevent terrorism. They note that London has a more sophisticated surveillance system, although the Chinese system will soon be far more extensive. Wall Street executives also defend the industry as necessary to keep the peace at a time of rapid change in China. They point out that New York has begun experimenting with surveillance cameras in Lower Manhattan and other areas of the city.

We spend far more, but our health care is falling behind
2007-07-10, San Francisco Chronicle (San Francisco's leading newspaper)
http://sfgate.com/cgi-bin/article.cgi?file=/c/a/2007/07/10/MNGNUQTQJB1.DTL

These days, fewer Americans are buying the claim that the United States has the best medical system in the world. Consumers are buying lower-cost online drugs from foreign sources, and some even become "medical tourists" to obtain affordable treatment in other countries. Studies show Americans aren't healthier, nor are they living longer than people in industrialized nations that spend half per capita of what we do on care. A 2007 ... study that compared the United States with five other nations -- Australia, Canada, Germany, New Zealand and the United Kingdom -- ranked the U.S. health system last. And a 2000 report by the World Health Organization ... put the United States 37th out of 190 nations in health care services -- between Costa Rica and Slovenia. France was rated No. 1. In a New York Times/CBS poll conducted in March, health care ranked as the top domestic concern. We spend far more, but our health care is falling behind, studies say. "We, unlike any other country, have 46 million people who are uninsured, and that raises a whole host of health and financial issues," said Ken Thorpe, professor of health policy at Emory University. "Ours is really is a sick-care system." Thorpe said. He argues ... that it is far more cost-effective to prevent people from getting sick or at least catch illnesses early through better monitoring. Karen Davis, president of .... a nonprofit foundation that supports health care research said, "We tend to have more medical errors than other countries, in part because of this highly specialized, fragmented system. More things can go wrong and do go wrong."

Note: For many highly informative major media articles on the U.S. health crisis, click here.

Care in need of a cure
2007-06-18, Los Angeles Times
http://www.latimes.com/features/health/la-he-global18jun18,1,1444274.story