News StoriesExcerpts of Key News Stories in Major Media
Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
Foreign arms sales by the United States jumped by almost $10 billion in 2014, about 35 percent, even as the global weapons market remained flat and competition among suppliers increased, a new congressional study has found. American weapons receipts rose to $36.2 billion in 2014 from $26.7 billion the year before, bolstered by multibillion-dollar agreements with Qatar, Saudi Arabia and South Korea. The United States remained the single largest provider of arms around the world last year, controlling just over 50 percent of the market. Russia followed the United States as the top weapons supplier, completing $10.2 billion in sales, compared with $10.3 billion in 2013. Sweden was third, with roughly $5.5 billion in sales, followed by France with $4.4 billion and China with $2.2 billion. South Korea ... was the world’s top weapons buyer in 2014, completing $7.8 billion in contracts. Iraq followed South Korea, with $7.3 billion in purchases. Some arms producers have adopted measures like flexible financing, counter-trade guarantees and coproduction and co-assembly agreements to try to secure sales. Given its positioning, the United States was likely to remain the dominant supplier of arms to developing nations in coming years. As in previous years, the vast majority of arms were supplied by large, established countries to developing ones, which made $61.8 billion in total purchases in 2014.
Note: This annual report is among the most detailed nonclassified international arms sales data available to the public. Watch this video which shows how the US and its allies stoke war in order to pad the pockets of mega-corporations which profit greatly from arms sales. For more along these lines, see concise summaries of deeply revealing war news articles from reliable major media sources.
Ramadi was liberated today, but will anyone notice? The sad fact is that nothing that actually happens on the ground against Daesh (ISIS) is likely going to have a material effect on the culture of fear that has been created to infest the American psyche by so many people who should know so much better. A whopping 59% of Democrats are unhappy with the progress President Obama has made on the war on terror, along with 86% of Republicans and 69% of independents. What did anyone expect? Since the Paris shootings, and certainly since the shootings in San Bernardino, through the efforts of our leading television news stars, Daesh has been converted into the greatest threat to Western civilization since the Battle of Tours. They are supervillains with mad computer skillz and secret Muslim mind-tricks who can turn your children into implacable murder machines. If you want to see what losing the war on terror really looks like, don't look to the Middle East. Instead, watch the television commercials approved by the various Republican presidential candidates. The three Democratic candidates are better, but not by much. You can't win a "war" on terror any more than you can win a "war" on hate or a "war" on any other easily activated human emotion, if there are enough powerful institutions that can profit from its activation. It's really up to the rest of us ... to keep things in perspective about the genuine dangers and the fantastical ones by which other people profit.
Note: Explore powerful evidence that ISIS is aided and was possibly even created by covert US support. Watch this video which shows how the US and its allies stoke war in order to pad the pockets of mega-corporations which profit greatly from arms sales. For more along these lines, see concise summaries of deeply revealing news articles about the manipulation of public perception.
Dr. Nav Persaud, a family doctor in Toronto, asked and received thousands of pages of documents from Health Canada, and what he saw made him question the effectiveness of a popular morning sickness drug. But he can't talk about it, because Health Canada forced him to sign a confidentiality agreement, and threatened him with legal action if he makes the data public. Matthew Herder, [a] health law associate professor ... is calling on other doctors, researchers and journalists to bombard Ottawa with their own demands for drug industry data, using [a] new legislative lever written into ... the Protecting Canadians from Unsafe Drugs Act, which was passed late last year. Today, in the Canadian Medical Association Journal, Herder is urging Canadians to use the clause [to request] data that has long been protected by a wall of bureaucratic and corporate secrecy. The European Medicines Agency has started publishing all of the clinical reports submitted as part of drug marketing authorization applications - the same material Health Canada refuses to disclose. Almost half of the drug trials remain secret. [In the US], one group looked at 12 antidepressants, comparing the published studies with the internal FDA assessments. 94 per cent of the published studies were positive, compared to 51 per cent when they included all of the studies assessed by the FDA. The authors concluded that without seeing all the data, drug effectiveness can be exaggerated, leading doctors and patients to assume the medications work better than they do.
Note: For more along these lines, see concise summaries of deeply revealing news articles about government corruption and big pharma profiteering. Then read an in-depth essay titled "The Truth About Drug Companies" by acclaimed author Dr. Marcia Angell.
A judge ruled on Thursday that the New York City health department could not require young children to be vaccinated for the flu to attend city-licensed preschools and day care centers, striking down one of the more ambitious public health initiatives of the Bloomberg administration. Justice Manuel J. Mendez ... said the city could not add influenza to the list of diseases requiring immunization without action by the State Legislature. The mandate ... was scheduled to take effect in January. It required children between the ages of 6 months and 59 months to be vaccinated by shot or mist. The measure was approved unanimously by the Board of Health. But the proposal soon met fierce opposition, with many parents resisting and saying that their doctors told them the vaccine was not needed. The court ruling did not delve into the debate about vaccines. Michelle Carroll, 44, one of the plaintiffs in the suit and the mother of a 4-year-old girl, said the ruling was a victory for parents. “It’s important for people to remember that vaccines are drugs and just like any other drug, not every vaccine is going to be right for every single child,” Ms. Carroll said. The ruling was important, she said, because it left “the decision about whether or not to vaccinate our smallest, youngest, most vulnerable citizens” with pediatricians and parents.
Note: According to this NPR article, last year "the vaccine was only about 13 percent effective against the main strain." Could it be that we are being tricked into believing these vaccines a much more effective than they really are? Remember that big Pharma makes big profits from vaccines. For more, see this mercola.com article. For more along these lines, see concise summaries of deeply revealing vaccine controversy news articles from reliable major media sources.
Seven years ago, the Federal Reserve and the Treasury Department bailed out the largest financial institutions in this country because they were considered too big to fail. But almost every one is bigger today than it was before the bailout. If any were to fail again, taxpayers could be on the hook for another bailout. To rein in Wall Street, we should begin by reforming the Federal Reserve, which oversees financial institutions. Unfortunately, an institution that was created to serve all Americans has been hijacked by the very bankers it regulates. What went wrong at the Fed? The chief executives of some of the largest banks in America are allowed to serve on its boards. During the Wall Street crisis of 2007, Jamie Dimon, the chief executive and chairman of JPMorgan Chase, served on the New York Fed’s board of directors while his bank received more than $390 billion in financial assistance from the Fed. Next year, four of the 12 presidents at the regional Federal Reserve Banks will be former executives from one firm: Goldman Sachs. We would not tolerate the head of Exxon Mobil running the Environmental Protection Agency. And we should not allow big bank executives to serve on the boards of the main agency in charge of regulating financial institutions. Financial reforms must not stop with the central bank. We must reinstate Glass-Steagall and break up the too-big-to-fail financial institutions. The sad reality is that the Federal Reserve doesn’t regulate Wall Street; Wall Street regulates the Fed.
Note: After the bailout in 2008, the percentage of US banking assets held by the big banks has almost doubled. Could this possibly have been planned? And why is the only US presidential candidate talking seriously about bank reform being given little attention by mainstream media? For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the financial industry.
The US is dominated by a rich and powerful elite. So concludes a recent study by Princeton University Prof Martin Gilens and Northwestern University Prof Benjamin I Page. This is not news, you say. Perhaps, but the two professors have conducted exhaustive research to try to present data-driven support for this conclusion. Here's how they explain it: "Multivariate analysis indicates that economic elites and organised groups representing business interests have substantial independent impacts on US government policy, while average citizens and mass-based interest groups have little or no independent influence." In English: the wealthy few move policy, while the average American has little power. "A proposed policy change with low support among economically elite Americans (one-out-of-five in favour) is adopted only about 18% of the time," they write, "while a proposed change with high support (four-out-of-five in favour) is adopted about 45% of the time." On the other hand: When a majority of citizens disagrees with economic elites and/or with organised interests, they generally lose. Moreover, because of the strong status quo bias built into the US political system, even when fairly large majorities of Americans favour policy change, they generally do not get it. Eric Zuess, writing in Counterpunch, isn't surprised by the survey's results. "American democracy is a sham, no matter how much it's pumped by the oligarchs who run the country" he writes. "The US, in other words, is basically similar to Russia or most other dubious 'electoral' 'democratic' countries. We weren't formerly, but we clearly are now."
Note: Read an article by Robert Reich with excellent thoughts on this. Read also how "billionaire oligarchs" are becoming their own political party. For more, see concise summaries of deeply revealing news articles on government corruption and income inequality from reliable major media sources.
Good news. Sometimes, it comes in the form of a cancelled hydro dam that spares 20,000 people from the burden of displacement. Other times, it takes the shape of a simple court admission that Indigenous Peoples do actually make the best conservationists. Indigenous rights victories give us all pause to celebrate, to reflect and to rejuvenate our own quests for justice. In a landmark decision last week, the Dutch Court of Appeals ruled that four Ogoni farmers from Nigeria can take their case against [oil company] Shell to a judge in the Netherlands. Alali Efanga, one of the Ogoni farmers who ... said the ruling "offers hope that Shell will finally begin to restore the soil around my village so that I will once again be able to take up farming and fishing on my own land." The Wampis nation ... took an unprecedented step forward by establishing the first Autonomous Indigenous Government in Peru's history. Spanning a 1.3 million hectare territory - a region the size of the State of Connecticut - the newly created democratically-elected government brings together 100 Wampis communities representing some 10,613 people. Monsanto ... took another big hit after Mexico's Supreme Court suspended a permit to grow genetically modified soybeans across 250,000 hectares on the Yucatán peninsula. The judgment stemmed from a constitutional law in Mexico that requires the consideration of indigenous communities. The judge commented in the ruling that co-existence between honey production and GM soybeans is simply not possible.
Note: Don't miss the details of these and many other recent indigenous community victories at the link above. Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Abdel Gawad Ellabbad knows exactly how he was infected with hepatitis C. As a schoolboy in this Nile Delta rice-farming village, his class marched to the local clinic every month for injections against schistosomiasis, a parasitic disease spread by water snails. Six million Egyptians were infected with hepatitis C by unsterile needles during the country’s decades-long fight against schistosomiasis. The virus spread insidiously; today, at least 10 percent of Egyptians, nearly nine million people, are chronically infected, the highest rate in the world. But a grand experiment unfolding across the country may change all that. Pharmaceutical companies are testing ... a complicated deal to sell hepatitis drugs at a fraction of their usual cost. If [successful] the arrangement in Egypt may serve as a blueprint not just for curing hepatitis around the world, but also for providing other cutting-edge medicines to citizens in poor countries who could never afford them. The experiment here is about a year old and, while still fragile, appears to be headed for success. Mr. Ellabbad, for one, was finally cured of hepatitis this spring. An air-conditioning repairman, he took a three-month regimen that included sofosbuvir, first of the new generation of miracle drugs. The pills would have cost more than $84,000 in the United States. He got them free from the Egyptian government, which paid about $900. “Before, I felt like I was dying,” he said. “Now I feel like I’ve never felt before. Like I’m 35 again.”
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
In the classroom, subjects are often presented as settled and complete. But our collective understanding of any given subject is never complete, according to Jamie Holmes, who has just written a book on the hidden benefits of uncertainty. In “Nonsense: The Power of Not Knowing,” Holmes explores how the discomforting notions of ambiguity and uncertainty affect the way we think and behave. Confronting what we don’t know sometimes triggers curiosity. Teachers who hope to inspire curiosity in their students, and to encourage tolerance for ambiguity, can take steps to introduce uncertainty into the classroom. “The emotions of learning are surprise, awe, interest and confusion,” Holmes said. But because confusion provokes discomfort, it should be discussed by teachers to help students handle the inevitable disquiet. “The best assignments should make students make mistakes, be confused and feel uncertain,” he said. Teachers who instruct with a sense of humanity, curiosity and an appreciation for mystery are more apt to engage students in learning, Holmes explained. “Those with an outlook of authority and certainty don’t invite students in,” he said. Also, when teachers present themselves as experts imparting wisdom, students get the mistaken idea that subjects are closed. “Teachers should help students find ways to think and learn,” he said. “The best teachers are in awe of their subjects.” The process of discovery is often messy and non-linear.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
Kaiser Permanente ... plans to open its own medical school in Southern California in 2019. The nonprofit, national provider of managed health care says it plans to train students in its own style of integrated diagnosis and treatment - focusing on research, the use of new technologies, and teaching doctors to work as part of a collaborative caregiving team. Their new school will be about more than just primary care. "We need to prepare physicians for the way health care is delivered in the future," says Dr. Edward Ellison, executive medical director for the Southern California Permanente Medical Group. Students need to learn not just medicine, he says, but about integrated systems of care and how to work in a much different medical environment. "Our advantage is we can start from scratch," he says. Another advantage is the HMO's deep pockets. "They've got huge resources," says Dr. George Thibault, president of the Josiah Macy Jr. Foundation, which focuses on medical education. "This is a grand experiment, but if anybody can do it, Kaiser can."
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
When Americans look out at the world, we see a swarm of threats. China seems resurgent and ambitious. Russia is aggressive. Iran menaces our allies. Middle East nations we once relied on are collapsing in flames. Latin American leaders sound steadily more anti-Yankee. Terror groups capture territory and commit horrific atrocities. We fight Ebola with one hand while fending off Central American children with the other. In fact, this world of threats is an illusion. The United States has no potent enemies. We are not only safe, but safer than any big power has been in all of modern history. It will be generations before China is able to pose a serious challenge to the United States — and there is little evidence it wishes to do so. Russia is ... not always a friendly neighbor but no threat to the United States. Violence in the Middle East has no serious implication for American security. As for domestic terrorism, the risk for Americans is modest: You have more chance of being struck by lightning on your birthday than of dying in a terror attack. Promoting the image of a world full of enemies creates a “security psychosis” that misshapes our view of the world. In extreme cases, it pushes us into wars aimed at preempting threats that do not actually exist. Arms manufacturers profit from the security psychosis even more directly than militarists. Finding new threats is always good business for someone.
Note: Explore powerful evidence that ISIS is aided and was possibly even created by covert US support. Watch this video which shows how the US and its allies stoke war in order to pad the pockets of mega-corporations which profit greatly from arms sales. For more along these lines, see concise summaries of deeply revealing news articles about government corruption and the manipulation of public perception.
The New York Times is taking a second look at its reporting on the Internet activities of the assailants in the San Bernardino, Calif., massacre. The review is addressing a discrepancy between the paper’s reporting and statements made ... by FBI Director James B. Comey. The New York Times reported in a front-page Sunday piece that Tashfeen Malik, who with her husband Syed Rizwan Farook committed the slayings, “talked openly on social media about her views on violent jihad.” In a session with reporters yesterday, Comey announced: “So far, in this investigation we have found no evidence of posting on social media by either of them at that period in time and thereafter reflecting their commitment to jihad or to martyrdom. I’ve seen some reporting on that, and that’s a garble.” Following Comey’s statements, the New York Times published an article acknowledging the inconsistencies. That the New York Times appears to have botched this story isn’t a shocker. “American law enforcement officials” - upon whom the paper relied for its scoop - are famous for feeding contradictory and unfounded information to the media. Yet the paper’s explanation is indeed a shocker, especially these two sentences: "While those remarks were made online, Mr. Comey said, they were “direct private messages” and not easily accessed. Nevertheless, the F.B.I. was able to obtain them in the days since the attacks." This is a story that needs a large correction, if not a retraction.
Note: Somebody wants us to be afraid. Read an excellent analysis raising serious questions about these alleged mass murderers and others. A New York Times editor admitted that the NYT failed to accurately report the news after 9/11. For more along these lines, see concise summaries of deeply revealing news articles about the manipulation of public perception.
Today, FBI director James Comey said the San Bernardino shooters never talked openly about violent jihadism on social media: "So far, in this investigation we have found no evidence of posting on social media by either of them at that period in time and thereafter reflecting their commitment to jihador to martyrdom." So where did this notion come from, anyway? The answer is a New York Times story on Sunday headlined "U.S. Visa Process Missed San Bernardino Wife's Zealotry on Social Media." It told us that Tashfeen Malik "talked openly" on social media about jihad and that, "Had the authorities found the posts years ago, they might have kept her out of the country." The story was written by Matt Apuzzo, Michael Schmidt, and Julia Preston. Do those names sound familiar? They should. The first two were also the authors of July's epic fail claiming that Hillary Clinton was the target of a criminal referral over the mishandling of classified information in her private email system. In the end, virtually everything about the story turned out to be wrong. Clinton was not a target. The referral was not criminal. The emails in question had most likely not been classified at the time Clinton saw them. That's two strikes. Schmidt and Apuzzo either have some bad sources somewhere, or else they have one really bad source somewhere. And coincidentally or not, their source(s) have provided them with two dramatic but untrue scoops that make prominent Democrats look either corrupt or incompetent.
Note: A New York Times editor admitted that the NYT failed to accurately report the news after 9/11. For more along these lines, see concise summaries of deeply revealing news articles about the manipulation of public perception.
A panel of scientists is disputing a World Health Organization report published earlier this year that concluded glyphosate, the world's most widely used weed killer and main ingredient in Monsanto Co's Roundup herbicide, is probably carcinogenic to humans. The 16-member panel, assembled by Intertek Scientific & Regulatory Consultancy, will present its findings to the annual meeting of the Society for Risk Analysis on Monday, aiming to publish the study at a later date after peer review. Monsanto paid Intertek for the panel's work. Concerns about glyphosate on food have been a hot topic of debate in the United States recently and contributed to the passage in Vermont last year of the country's first mandatory labeling law for foods that are genetically modified. Critics say that industry-linked scientists are downplaying the risk to human health and trying to discredit the IARC report by casting doubt on some of the scientific studies that it reviewed. Ten of the 16 scientists on the Intertek panel have been consultants for Monsanto in the past and two others are former Monsanto employees.
Note: Read an informative article titled "Monsanto Charged With Crimes Against Humanity" on mercola.com. Read how the EPA used industry studies while ignoring independent studies to declare Roundup safe. For more along these lines, see concise summaries of deeply revealing GMO news articles from reliable major media sources.
In the span of a mere 11 days this month, $1 billion in future federal tax payments vanished. As congressional leaders were hastily braiding together a tax and spending bill of more than 2,000 pages, lobbyists swooped in to add 54 words that temporarily preserved a loophole sought by the hotel, restaurant and gambling industries, along with billionaire Wall Street investors, that allowed them to put real estate in trusts and avoid taxes. The small changes, and the enormous windfall they generated, show the power of connected corporate lobbyists to alter a huge bill that is being put together with little time for lawmakers to consider. Some executives at companies with the most at stake are also big campaign donors. The real estate provision, released on Dec. 7, is intended to close a loophole in federal law that has allowed casinos, hotels, restaurant chains and other businesses to raise billions of dollars in cash by spinning off the buildings they own into a separate real estate investment trust, or REIT, without triggering a capital gains tax payment, a potentially big benefit. The revised language drew almost no notice from members of Congress, who were given three days to review a 2,009-page spending plan and the 233-page list of tax breaks before they were asked to vote on the package with almost no debate. Three House lawmakers interviewed just after the vote said they had known nothing about it.
Note: For more along these lines, see concise summaries of deeply revealing government corruption news articles from reliable major media sources.
The United Nations' "gross institutional failure" to act on allegations that French and other peacekeepers sexually abused children in the Central African Republic led to even more assaults, according to a new report. One young boy who initially reported an attack on his friends more than a year ago now says he has been raped, too. [An] independent panel found that the accounts by children as young as 9 of trading oral sex and other acts in exchange for food in the middle of a war zone in early 2014 were "passed from desk to desk, inbox to inbox, across multiple U.N. offices, with no one willing to take responsibility." Among those said to have looked the other way were the U.N. children's agency, UNICEF, as well as human rights staffers. The panel, led by Canadian judge Marie Deschamps, found that U.N. staffers failed or hesitated to pass the children's allegations to more senior officials, sometimes because of political concerns with France involved; showed "unconscionable delays" in protecting and supporting the children; failed to further investigate the allegations; failed to properly vet peacekeepers for past abuses; and, overall, appeared more concerned with whether one U.N. staffer had improperly alerted French authorities. "The welfare of the victims and the accountability of the perpetrators appeared to be an afterthought, if considered at all," the report says. As of now, more than a year and a half after U.N. staffers first heard the children's allegations of sexual abuse, no one has been arrested.
Note: Watch an excellent segment by Australia's "60-Minutes" team titled "Spies, Lords and Predators" on a pedophile ring in the UK which leads directly to the highest levels of government. A second suppressed documentary, "Conspiracy of Silence," goes even deeper into this sad subject. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.
For the past two years, the Pentagon has acknowledged having a severe problem with sexual assault in the ranks. Soldiers entrusted with key roles in the campaign against sexual assault and harassment have ... been accused of committing those very offenses. The Army Reserve’s 80th Training Command summoned about 350 personnel to an Orlando hotel in 2013 for a four-day conference on sexual-assault prevention. One session highlighted how excessive drinking is often at the root of sex crimes committed by those in uniform. Soon after the conference began, sheriff’s deputies were called to the hotel to investigate a report that a female guest had been raped by one of the participants - an inebriated soldier she had met at the hotel pool. Overall, the Defense Department received 6,131 reports of sexual assault last year, a figure that has more than doubled since 2007. In March, a sexual-assault-prevention officer for an Army battalion at Fort Hood, Tex., pleaded guilty to acting as a pimp by luring cash-strapped young female soldiers into a prostitution ring. Last year, the Army disciplined its former top sex-crimes prosecutor after receiving a complaint that he had kissed and groped a female officer - while attending a conference on sexual assault. The system shows that the military doesn’t really take sexual assault seriously.
Note: When it comes to sexual abuse, the US military has reportedly fostered a culture of coverup. For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.
More than 3,000 indigenous children and youth died in residential schools - many of them buried in unmarked graves - and those who had the power to prevent these deaths did little to stop it. The heartbreaking details of those deaths are contained in the final report of the Truth and Reconciliation Commission (TRC) released Tuesday, which details the dark history and unsettling legacy of Canadian residential schools that saw 150,000 First Nations, Métis and Inuit children come through their doors. “Many students who went to residential school never returned,” says the final report. “They died at rates that were far higher than those experienced by the general school-aged population. Their parents were often uninformed. No one took care to count how many died or to record where they were buried.” says the final report, [which] includes a volume titled “Missing Children and Unmarked Burials” detailing the circumstances, when known, of the 3,201 students deaths between 1867 and 2000 it was able to record. “Both the regulatory regime in which the schools operated and the level of compliance with that regime were inadequate to the task of protecting the health and safety of the students. "Government, church, and school officials were well aware of these failures and their impact on student health. If the question is, ‘Who knew what when?’ the clear answer is, ‘Everyone in authority at any point in the system’s history was well aware of the health and safety conditions in the schools,’ ” the report concludes.
Note: A recent BBC report goes deeper into the role of these schools in Canada's "cultural genocide" of First Nation peoples. For more along these lines, see concise summaries of deeply revealing civil liberties news articles from reliable major media sources.
In May 2009 Congress created a special commission to examine the causes of the financial crisis. Some commission members sought to block consideration of any historical account that might support efforts to rein in runaway bankers. One ... wrote [that] it was important that what they said “not undermine the ability of the new House G.O.P. to modify or repeal Dodd-Frank,” the financial regulations introduced in 2010. Never mind what really happened; the party line, literally, required telling stories that would help Wall Street do it all over again. Which brings me to a new movie the enemies of financial regulation really, really don’t want you to see. “The Big Short” is based on the Michael Lewis book of the same name, one of the few real best-sellers to emerge from the financial crisis. It does a terrific job of making Wall Street skulduggery entertaining. Many influential, seemingly authoritative players, from Alan Greenspan on down, insisted not only that there was no bubble but that no bubble was even possible. And the bubble whose existence they denied really was inflated largely via opaque financial schemes that in many cases amounted to outright fraud - and it is an outrage that basically nobody ended up being punished for those sins aside from innocent bystanders, namely the millions of workers who lost their jobs and the millions of families that lost their homes. While the movie gets the essentials of the financial crisis right, the true story of what happened is deeply inconvenient to some very rich and powerful people.
Martin Shkreli ... gained notoriety in August when, as CEO of Turing Pharmaceuticals, he acquired a drug to treat parasitic infections, especially in pregnant women and AIDS patients, and proceeded to hike the price to from $13.50 to $750 per pill. He resigned from Turing Friday after being arrested on unrelated charges of securities fraud at a hedge fund. Shkreli was no doubt a first-class tool. But to focus exclusively on shaming Shkreli risks missing the larger problem, that the American health care system allows opportunists like him to [exploit] the lack of transparency on how drugs are priced in the United States. His price gouging was perfectly legal and even justified under the market-based system that underpins the health care industry. “There’s no law that he has to be ethical,” said [Dr. Jeffrey] Lobosky, author of It's Enough To Make You Sick. “His job is not to make drugs available and save patients. His responsibility is to make a profit for his shareholders.” On paper, Turing is a drug company, but it more closely resembles a private-equity firm: it buys undervalued assets - older drugs already approved by federal regulators - and makes money by charging more than what it paid. Many firms make drugs that are mere copies of others and offer no real therapeutic value, Lobosky said.
Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.