Media ArticlesExcerpts of Key Media Articles in Major Media
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When the price of the blood-pressure drug Nitropress leaped from $215 to $881 last year, an increase of 300%, it triggered public outrage. [Drug maker] Valeant Pharmaceuticals International ... would buy patents for unique, lifesaving drugs, hike their prices and then watch the profits roll in. In the wake of the Valeant pricing scandal ... congressional and media investigations have revealed that the embattled company’s business model is hardly unique. In a memo from Oct. 16, 2015 ... the global investment bank Canaccord Genuity wrote that the price increases were not out of the ordinary. In a report from the same day, BMO Capital Markets reiterated that Valeant’s tactics were a “common industry practice” and that “at least 14 different pharmaceutical companies, excluding Valeant,” had made similar price hikes in recent years. The drug industry boasts some of the biggest profits of any industry. Wall Street investors have swooned over the sector. From 2012 to the middle of 2015, more than $50 billion in new capital poured into the industry. That influx of cash shifted the character of the industry. Instead of focusing on time-consuming R&D, drug companies began worrying more about delivering short-term gains to shareholders. For 20 of the biggest drug companies, 80% of shareholder earnings in 2014 were the result of price hikes. [The] industry ... spends more on lobbying than any other industry in the country.
Note: For more along these lines, see concise summaries of deeply revealing big Pharma profiteering news articles from reliable major media sources.
In August 2015, Turing Pharmaceuticals and its then-chief executive, Martin Shkreli, purchased a drug called Daraprim and immediately raised its price more than 5,000 percent. Within days, Turing contacted ... PSI, a charity that helps people meet the insurance copayments on costly drugs. Turing wanted PSI to create a fund for patients with toxoplasmosis, a parasitic infection that is most often treated with Daraprim. Having just made Daraprim much more costly, Turing was now offering to make it more affordable. But this is not a feel-good story. It’s a story about why expensive drugs keep getting more expensive, and how U.S. taxpayers support a billion-dollar system in which charitable giving is, in effect, a very profitable form of investing for drug companies - one that may also be tax-deductible. PSI, which runs similar programs for more than 20 diseases, jumped at Turing’s offer. PSI is a patient-assistance charitable organization, commonly known as a copay charity. It’s one of seven large charities ... offering assistance to some of the 40 million Americans covered through the government-funded Medicare drug program. A million-dollar contribution from a pharmaceutical company to a copay charity can keep hundreds of patients from abandoning a newly pricey drug. Fueled almost entirely by drugmakers’ contributions, the seven biggest copay charities, which cover scores of diseases, had combined contributions of $1.1 billion in 2014. For that $1 billion in aid, drug companies “get many billions back” from insurers.
Note: For more along these lines, see concise summaries of deeply revealing pharmaceutical industry corruption news articles from reliable major media sources.
“When the guilt of our roles in facilitating this systematic loss of innocent life became too much, all of us succumbed to PTSD,” [said] an open letter to the Obama administration, crafted by four former Air Force servicemen, each of whom played a role in the nation’s targeted killing program. The moral pang of the letter reflects a very basic ethical tenet. Concluding the letter, the former soldiers write that after suffering from post-traumatic stress disorder, “We were cut loose by the same government we gave so much to - sent out in the world without adequate medical care, reliable health services, or necessary benefits. Some of us are now homeless. Others of us barely make it.” Several years ago now, The New York Times published an op-ed by one of the authors titled “Drones, Ethics, and the Armchair Soldier,” which argued that the physical remove of drone warfare would give pilots the space to engage in moral reflection ... that the urgency and danger of traditional warfare often preclude. In the United States, conscientious objection to engaging in war is permitted on secular and moral ground - but only if the individual objects to war on the whole. Members of the US armed forces are not allowed to [refuse] to engage in particular wars or ... military assignments on the basis of a moral objection. Drones [open] up both moral dilemma and moral opportunity. Every soldier is in fact required to disobey illegal orders (to deliberately kill civilians, for example). But this is different from conscientious objection.
Note: Drone strikes almost always miss their intended targets and reportedly create more terrorists than they kill. Casualties of war whose identities are unknown are frequently mis-reported to be "militants". For more along these lines, see concise summaries of deeply revealing war news articles from reliable major media sources.
The scariest part of Emily Vorland’s relatively uneventful 2009 deployment to Iraq was that the enemy wore Army green. When a higher-ranking male officer sexually harassed her, her commander told Vorland to file a formal complaint. So she did. The investigation ... concluded she had “acted inappropriately,” engaged in consensual sex and was lying about it. A lesbian, she was concerned that her best defense was one that would end her military career. The Army [discharged her] for “unacceptable conduct.” Even as the military scrambles under congressional pressure to prevent future cases of sexual abuse, past victims are suffering for having stood up for themselves. Thousands of victims have been pushed out of the service with less-than-honorable discharges, which can leave them with no or reduced benefits, poor job prospects and a lifetime of stigma. Worse, when they try to rectify their situation, as Vorland did, fewer than 10% of them succeed, the advocacy group Human Rights Watch estimates. “Military personnel who report a sexual assault frequently find that their military career is the biggest casualty,” the group says in a new report. 163 veterans [were] ousted from the military between 1966 and 2015 after complaining about sexual abuse, ranging from harassment to rape. “Our interviews suggest that all too often superior officers choose to expeditiously discharge sexual-assault victims rather than support their recovery and help them keep their position,” the study says.
Note: A 2015 Associated Press article states that: "the true scope of sex-related violence in the military communities is vastly underreported." For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.
Would you read a story if this was the headline: "New study raises questions about an experimental treatment that might not work and won't be ready for a long time." That description would apply to most medical studies that make the news but would be unlikely to generate the clicks, taps, likes and shares that propel a story through cyberspace and social media. What gets clicks? Words like "breakthrough," "groundbreaking," "game changer" and "lifesaver." Since the 1970s, the use of positive words in scientific abstracts increased by 880 per cent, according to a study last December in the British Medical Journal. And now, the world's stem cell scientists have been told to stop the hype. The International Society for Stem Cell Research (ISSCR) issued new guidelines last week that urge scientists to dial back their enthusiasm when talking publicly about their research. Because people are getting hurt. Last December, the Food and Drug Administration in the U.S. issued a warning letter to a U.S.-based company offering stem cell therapies for a range of diseases, including autism, multiple sclerosis and Parkinson's disease. And a U.K. newspaper claims its undercover investigation lead to the closure of a controversial clinic in Germany where a child died after having stem cells injected into his brain. "There is ... an industry already out there that is marketing unproven therapies directly to patients," said George Daley, a member of the ISSCR and a professor at Harvard Medical School. "It is part of the concern that has raised the alarm."
Note: According to Richard Horton, chief editor of The Lancet, up to half of all science journal claims may be untrue. Read also the revealing comments of Marcia Angell, former editor-in-chief of the New England Journal of Medicine, on the massive corruption she found in the health industry. For more along these lines, see concise summaries of deeply revealing science corruption news articles from reliable major media sources.
Plastic six-pack rings are the bane of conservationists - images of sea birds and turtles entangled in them serve as constant reminders that consumer culture and the environment don’t get along. But thanks to an innovation from a Florida-based brewery, we can feel a little better about enjoying a six-pack. Saltwater Brewery has partnered with the ad agency We Believers to create what they say is the first fully edible beer can packaging. Made from byproducts of the brewing process such as wheat and barley, their six-pack holders are fully biodegradable and completely digestible. Rather than ensnaring curious animals in a corset of litter, the company’s six-pack rings could serve as a satisfying snack. And if nothing is biting, the rings quickly decompose. Plus, the drink holders are just as strong as the plastic variety, which should keep those Screamin’ Reels safe, as well. The company 3-D printed a test batch of 500 holders in April, according to AdvertisingAge, and it plans to scale up production to meet its current output of 400,000 cans of beer a month. While the edible holders are more expensive to make, Saltwater Brewery wants set an example for other beer producers and encourage them to adopt the idea. They say if their edible holders become commonplace, they could potentially be as cheap as the regular plastic rings.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The Senate approved a bill Tuesday to allow victims and families of the 9/11 attacks to sue Saudi Arabia for its alleged involvement in the terrorist strikes. The bill, which the White House opposes ... had stalled for months. It now heads to the House. In the end, the bill's authors - John Cornyn of Texas, the second ranking Senate Republican, and Chuck Schumer of New York, the third-ranking Senate Democrat - were able to pass the bill on a voice vote, a rare feat in the divided chamber. White House press secretary Josh Earnest renewed the threat that President Barack Obama will veto the bill. The White House and State Department say the bill could have dramatic ramifications. "This legislation would change long standing international law regarding sovereign immunity. The President ... continues to harbor serious concerns that this legislation would make the United States vulnerable in other court systems around the world," Earnest said. The bill would prevent Saudi Arabia and other countries alleged to have terrorist ties from invoking their sovereign immunity in federal court. Saudi Arabia has long denied any role in the 9/11 attacks, but victims' families have repeatedly sought to bring the matter to court, only to be rebuffed after the country has invoked legal immunity allowed under current law. In March, Saudi Foreign Minister Adel al-Jubeir warned lawmakers that it would sell $750 billion in U.S. assets ... should the bill become law.
Note: Saudi Arabia's influential charm offensive and its $750 billion threat have not stopped this legislation from moving forward. Read more on the Saudi role in Sept. 11 and the hidden 9/11 report pages. For more along these lines, see concise summaries of deeply revealing 9/11 news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our 9/11 Information Center.
Say the name Bernie Madoff, and chances are everyone will immediately remember the Ponzi scheme that bilked investors of $64 billion. What likely won’t spring to mind is JPMorgan Chase’s role in the more than decadelong fraud. And the link is all the more egregious, Helen Davis Chaitman, an attorney who represents 1,600 of Madoff’s victims, and Lance Gotthoffer write in “JPMadoff: The Unholy Alliance Between America’s Biggest Bank and America’s Biggest Crook,” because the federal government has failed to prosecute any of the bankers involved. Madoff trustee Irving Picard laid out JPMorgan’s involvement in a complaint, which was turned into a list of stipulations the government entered as part of a deferred prosecution agreement with JPMorgan. The stipulations outline two violations of the Bank Secrecy Act, under which banks are responsible for alerting authorities to suspected illegal activity by customers. JPMorgan, the world’s sixth-largest bank by total assets, pleaded ignorance of wrongdoing but accepted the stipulations and paid a $1.7 billion fine. [When] Madoff began kiting checks ... Bankers Trust Co. spotted the illegal activity and closed Madoff’s account. That’s when Madoff moved his business to JPMorgan, depositing $150 billion from 1986 through 2008. JPMorgan handled only Madoff’s illegal investment advisory business, not the successful stock trading business that employed 190 of Madoff’s 200 employees. And though the bank was prosecuted, none of the bankers involved with Madoff’s account were.
Note: JP Morgan Chase's role in the Madoff scandal is outrageous, but it is relatively minor in comparison to the massive securities fraud and cover-up perpetrated by this and other corrupt financial institutions.
A CIA tip off to South Africa's apartheid regime which led to Nelson Mandela's arrest and 27-year imprisonment was condemned as a "betrayal of our nation" by the grandson and heir of the former president. Mandla Mandela called on US President Barack Obama to apologise and make a "full disclosure" of the events leading up to his grandfather's arrest in 1962 ... after a former CIA agent confirmed that he told the apartheid police how to find [Nelson] Mandela. "The USA put its imperial interests above the struggle for liberation of millions of people," said Mr Mandela, the former statesman's eldest grandson who is also an ANC MP. Donald Rickard said he and his handlers believed Mr Mandela was "the world's most dangerous communist outside of the Soviet Union" and he had no qualms about tipping the authorities off about his whereabouts in 1962, the height of the Cold War. The CIA's involvement in his detention after 17 years on the run has long been suspected but has never been confirmed until now. Mr Rickard ... broke his silence about his involvement in netting the "Black Pimpernel" as Mandela was known in an interview in March with researchers for a new film by British director John Irvin. Mr Rickard, who retired from the CIA in 1978 and spent the rest of his life in a remote spot in Colorado, died two weeks after the interview. Zizi Kodwa, a spokesman for the ANC, echoed claims by the ANC's secretary-general that the CIA was still interfering in South African politics.
Note: For more along these lines, see concise summaries of deeply revealing intelligence agency corruption news articles from reliable major media sources.
I’m a science journalist. That keeps me busy, because, as you know, most peer-reviewed scientific claims are wrong. So I’m a skeptic, but with a small s, not capital S. “The Science Delusion” is common among Capital-S Skeptics. You don’t apply your skepticism equally. You are extremely critical of belief in God, ghosts, heaven, ESP, astrology, homeopathy and Bigfoot. Meanwhile, you neglect [many] dubious and even harmful claims promoted by major scientists and institutions. Let’s take a look at ... mainstream medicine. Over the past half-century, physicians and hospitals have introduced increasingly sophisticated, expensive tests. They assure us that early detection of disease will lead to better health. But tests often do more harm than good. For every woman whose life is extended because a mammogram detected a tumor, up to 33 receive unnecessary treatment, including biopsies, surgery, radiation and chemotherapy. For men diagnosed with prostate cancer after a PSA test, the ratio is 47 to one. Similar data are emerging on colonoscopies and other tests. Mental-health care suffers from similar problems. The biological theory that really drives me nuts is the deep-roots theory of war. According to the theory, lethal group violence is in our genes. But the evidence is overwhelming that war was a cultural innovation. I hate the deep-roots theory not only because it’s wrong, but also because it encourages fatalism toward war. War is our most urgent problem.
Note: The above was written by John Horgan, director of the Center for Science Writings at the Stevens Institute of Technology. For more along these lines, see concise summaries of deeply revealing science corruption news articles from reliable major media sources.
A solar project funded and operated by both Jews and Muslims is shining some light on Auja, a small Palestinian town located in one of the most controversial territories on Earth. The $100,000 project is harnessing solar energy to power the drawing of water from deep underground to irrigate a grove of palms growing the prized Medjool dates. It is the first large project to be funded by both Jews and Muslims in the United States – including former New York City Mayor Michael R. Bloomberg – and to be operated by Israeli Jews and Palestinian Muslims on the ground. The solar array is providing an economic boost to 45 farming families in this town of 5,000 Palestinians on the eastern flank of the West Bank who struggle with scarce water and unreliable and expensive electricity. Ben Jablonski ... is leading the project through a nonprofit he founded called Build Israel Palestine. Mr. Jablonski, who is Jewish, started the organization in 2014 with Tarek Elgawhary, an Egyptian Muslim religious scholar in Washington, D.C. who also runs Coexist, an educational nonprofit. Jablonski gave up his board seat with the Jewish National Fund, a nonprofit infrastructure developer that has limited but controversial involvement in West Bank settlements, in order to meet the demands from the Auja community, which insisted that donors and engineers involved in the project have no connections to Israeli settlements. Build Israel Palestine’s work focuses on providing Palestinians access to water, and doing so by bringing Muslims and Jews together.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
In recent years, researchers have sought to rescue hallucinogens from exile by examining their efficacy in treating certain disorders of the mind. Psychoactive substances, often derived from mushrooms, have been part of human cultures ... for thousands of years. In the 1950s and ’60s, researchers assiduously explored LSD as a tool for treating mental illness and various addictions. The Central Intelligence Agency tested the drug’s possibilities as a truth serum or perhaps a vehicle for mind control. Prohibitions against LSD and brethren hallucinogens, like psilocybin and mescaline, were codified in the Controlled Substances Act of 1970. Soon enough, serious scientific exploration of psychedelics dried up. In recent years, though, mind-bending drugs have begun tiptoeing back into the research mainstream. Modern scientists are ... studying hallucinogens’ potential to help smokers kick the habit, to undo addictions to drugs and alcohol, to cope with cluster headaches and depression, and to deal with obsessive-compulsive and post-traumatic stress disorders. Institutions where such work is underway include New York University; Johns Hopkins University; the University of California, Los Angeles; Psychiatric University Hospital in Zurich; and Imperial College in London. Hallucinogens, while not addictive, remain officially taboo everywhere. Nonetheless ... if carefully administered, [some researchers] say, hallucinogens can reorient patients’ perceptions of their place in the universe and pull them out of ruts of negative thinking.
Note: Watch a 13-minute New York Times video on the return of psychedelics as a powerful healing modality. While the war on drugs has been called a "trillion dollar failure", articles like this suggest the healing potentials of mind altering drugs are starting to be investigated more scientifically.
Chris Castro has an obsession - turning the perfectly manicured lawns in his Orlando neighborhood into mini-farms. "The amount of interest in Orlando is incredibly surprising," Castro says. Surprising because he's asking Floridians to hand over a good chunk of their precious yards to volunteers who plant gardens full of produce. His program is called Fleet Farming, and it's starting off small, with 10 of these yard farms. Most of them sit smack in the middle of the front yard. Lawns are a thing here. Urban farms? Not so much. But so far, no neighbors have complained. Castro makes sure every garden is meticulously maintained - including homeowner Gary Henderson's. "I just think that the whole idea of lawns, especially in a place like Florida, is absurd," says Henderson, standing amid rows of tomatoes, sweet lettuce, carrots and arugula growing smack in the middle of his front yard. All of Fleet Farming's volunteers only ride bikes, going from garden to garden to harvest the produce. Because the program is bike-powered, Castro keeps the yard gardens within a mile of the local farmers market, where Fleet Farming sells most of the produce. Henderson offers this advice to anyone thinking about replacing their lawn with a garden: "Give it a try ... and once you get to the point where you realize that you can eat your lawn, I think it makes a whole lot of sense." And so do 300 other residents of central Florida. That's how many people are on Fleet Farming's waiting list, ready to eat their lawns instead of having to mow them.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Hidden microphones that are part of a clandestine government surveillance program that has been operating around the Bay Area has been exposed. Imagine standing at a bus stop, talking to your friend and having your conversation recorded without you knowing. It happens all the time, and the FBI doesn’t even need a warrant to do it. Jeff Harp, a ... security analyst and former FBI special agent said, “They put microphones under rocks, they put microphones in trees, they plant microphones in equipment. I mean, there’s microphones that are planted in places that people don’t think about, because that’s the intent!” FBI agents hid microphones inside light fixtures and at a bus stop outside the Oakland Courthouse without a warrant to record conversations, between March 2010 and January 2011. Federal authorities are trying to prove real estate investors in San Mateo and Alameda counties are guilty of bid rigging and fraud and used these recordings as evidence. The lawyer for one of the accused real estate investors who will ask the judge to throw out the recordings, told KPIX 5 News that, “Speaking in a public place does not mean that the individual has no reasonable expectation of privacy … private communication in a public place qualifies as a protected ‘oral communication.'”
A stone knife and other artifacts found deep underwater in a Florida sinkhole show people lived in that area some 14,500 years ago. That makes the ancient sinkhole the earliest well-documented site for human presence in the southeastern U.S., and important for understanding the settling of the Americas, experts said. The findings confirm claims made more than a decade ago about the site. At that time, researchers reported evidence that humans were there some 14,400 years ago. But in an era when such an old date was widely considered impossible, other experts disputed the evidence, said Mike Waters of Texas A&M University. The sinkhole was "just politely ignored," he said. Waters was among a new team of scientists who excavated there from 2012 to 2014. They report finding the knife and stone flakes in a paper released Friday by the journal Science Advances. The new work offers "far better" evidence for early humans than the earlier research did, he said. In American archaeology, sites showing signs of human presence more than about 13,000 years are called "pre-Clovis," since they predate the Clovis era of widespread human occupation. Dennis Stanford of the Smithsonian Institution's National Museum of Natural History said that he ranked the sinkhole with two locations in Pennsylvania and Virginia as "the best-dated and oldest pre-Clovis sites yet found in North America."
Note: For more along these lines, see concise summaries of deeply revealing suppressed archaeology news articles from reliable major media sources.
Democratic presidential front-runner Hillary Clinton is ramping up her fundraising schedule, attending a number of fundraisers this week that cost donors six-figures to attend. The former secretary of state attended a pair of small, intimate gatherings in New York City on Thursday evening that cost donors a minimum of $100,000 to attend. On Wednesday, she attended two $100,000-a-head events in Englewood, N.J., and New York City. [The] Thursday event was at the home of Lynn Forester de Rothschild, a prominent New York businesswoman and supporter of Mrs. Clinton and Democratic candidates. Six-figure fundraisers are a new frontier in presidential politics, made possible by a 2014 Supreme Court case that tossed a key contribution limit governing how much donors could give across the board in a single election cycle. As a result, campaigns and parties can now fundraise in tandem with each other. Mrs. Clinton’s events on Thursday [were] not the campaign’s first foray into high-dollar fundraising. In April, the campaign held an event at the home of actor George Clooney. The event cost $33,400 to attend, though donors who contributed $353,400 could sit at the head table.
Note: Read about Hillary's direct connections with the Rothschild family, as revealed through Wikileaks data. Read also a recent Washington Post article stating that control over US politics by the financial elites has ushered the country into a "new Gilded Age". For more along these lines, see concise summaries of deeply revealing elections corruption news articles from reliable major media sources.
John Lehman, a member of the 9/11 commission, told CNN Thursday that the classified 28 pages of a congressional investigatory report into the attacks contains evidence that as many as six Saudi officials supported al Qaeda in the run-up to the attacks. Those individuals, he said, worked for the Saudi Embassy in the U.S., Saudi charities and [a] Saudi government-funded ... mosque. Lehman charged that evidence of Saudi involvement was never sufficiently investigated. The individuals had hard ties to the government and hard ties to the hijackers, with one driving the hijackers from San Diego to Phoenix when they failed out of their first flight school. Other commission members, including former federal prosecutor Richard Ben-Veniste, are echoing Lehman's call. Lehman urged the declassification of the 28 pages of the 9/11 Commission Report, part of a congressional panel investigating intelligence failures related to the 9/11 attacks. His statements that as many as six officials were implicated appear to contrast with comments made by other members of the commission. The commission's chair and vice chairs, former Republican New Jersey Gov. Tom Kean and former Democratic Rep. Lee Hamilton of Indiana, released a statement in April saying that "only one employee of the Saudi government was implicated in the plot investigation."
Note: Read more on the Saudi role in Sept. 11 and the hidden 9/11 report pages. For more along these lines, see concise summaries of deeply revealing 9/11 news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our 9/11 Information Center.
Saudi government employees were part of a support network for the 9/11 hijackers. The Obama administration should move quickly to declassify a long-secret congressional report on Saudi ties to the 2001 terrorist attack, [said former 9/11 commission member John Lehman]. The comments ... signal the first serious public split among the 10 commissioners since they issued a 2004 final report that was largely read as an exoneration of Saudi Arabia, which was home to 15 of the 19 hijackers on 9/11. The former chairman and vice-chairman of the commission [have] urged the Obama administration to be cautious about releasing the full congressional report on the Saudis and 9/11 – “the 28 pages”, as they are widely known in Washington. In fact, there were repeated showdowns, especially over the Saudis, between the staff and the commission’s hard-charging executive director ... Philip Zelikow. Zelikow fired a staffer, who had repeatedly protested over limitations on the Saudi investigation, after she obtained a copy of the 28 pages outside of official channels. Other staffers described an angry scene late one night, near the end of the investigation, when two investigators who focused on the Saudi allegations were forced to rush back to the commission’s offices after midnight after learning to their astonishment that some of the most compelling evidence about a Saudi tie to 9/11 was being edited out of the report.
Note: Zelikow's close ties to the Bush White House are among many problems with the official 9/11 Commission Report. Read more on the Saudi role in Sept. 11 and the hidden 9/11 report pages. For more along these lines, see concise summaries of deeply revealing 9/11 news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our 9/11 Information Center.
The Federal Reserve's monetary policies "probably" fueled wealth inequality in the U.S. during the aftermath of the Great Recession, according to a former regional Fed bank president. Narayana Kocherlakota, who until this year headed the Federal Reserve Bank of Minneapolis ... wrote in a candid op-ed Wednesday that "it's not surprising that poorer American families got the impression that the Fed did more to help banks during the financial crisis and associated recession than it did to help them. The wealth of the typical family in the bottom three-quarters of the distribution declined by a lot more than that of the typical family in the top 10th [between 2007 and 2010]," Kocherlakota wrote. "This was partly the result of leverage: The poorer families tended to have more debt for each dollar in assets, so any decline in assets translated into a much larger percentage decrease in net worth." So as housing prices collapsed in the late 2000s, poorer families were left with large pools of debt and significantly diminished assets, while more wealthy families suffered less drastic blows even though they largely had greater exposure to high-value assets. The Fed's policies, then, appeared to more dramatically affect the fortunes of lower-income Americans than the nation's richest households. Kocherlakota thinks the Fed could have done more. Suggesting that the Fed's moves inherently contributed to rising income inequality in the U.S., though, is a surprising stance for a former regional bank president to take.
Note: For more along these lines, see concise summaries of deeply revealing income inequality news articles from reliable major media sources.
A shorter work day increases productivity and makes people happier. The Svartedalens retirement home in Gothenburg, Sweden's second largest city, conducted an experiment to determine whether cutting hours improved patient care and boosted employees' morale. Nurses who worked six-hour days for the past year were found to be 20 per cent happier and had more energy at work and in their spare time. The 68 nurses also took half as much sick time as those in the control group and were able to do 64 per cent more activities with elderly residents. They were also 2.8 times less likely to take any time off work in a two-week period, Bengt Lorentzon, a researcher on the project, told Bloomberg. "If the nurses are at work more time and are more healthy, this means that the continuity at the residence has increased," Mr Lorentzon said. "That means higher quality [care]." Sweden made headlines in 2015 when it was reported the country was moving towards a six-hour work day. A Toyota centre in Gothenburg, Sweden's second largest city, implemented shorter working hours over a decade ago, with the company reporting happier staff, a lower turnover rate and an increase in profits. Their results prompted a number of other Swedish companies to trial shorter hours. Longer working hours have been linked with heart disease and stroke, according to a medical study published in The Lancet.
Important Note: Explore our full index to revealing excerpts of key major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.