Corporate Corruption Media Articles
Below are key excerpts of revealing news articles on corporate corruption from reliable news media sources. If any link fails to function, a paywall blocks full access, or the article is no longer available, try these digital tools.
In 2010, Purdue Pharma replaced the original version of OxyContin, an extended-release oxycodone pill, with a reformulated product that was much harder to crush for snorting or injection. The reformulation of OxyContin was instead associated with an increase in deaths involving illicit opioids and, ultimately, an overall increase in fatal drug overdoses. Researchers ... found that death rates rose fastest in states where reformulation would have had the biggest impact. A new study by RAND Corporation senior economist David Powell extends those findings by showing that the reformulation of OxyContin also was associated with rising suicides among children and teenagers. The root cause of such perverse effects was the substitution that occurred after the old version of OxyContin was retired. Nonmedical users turned to black-market alternatives that were more dangerous because their potency was highly variable and unpredictable—a hazard that was compounded by the emergence of illicit fentanyl as a heroin booster and substitute. The fallout from the reformulation of OxyContin is one example of a broader tendency: Interventions aimed at reducing the harm caused by substance abuse frequently have the opposite effect. Based on interstate differences in nonmedical use of OxyContin prior to 2010, Powell estimates that "the reformulation of OxyContin can explain 49% of the rise in child suicides."
Note: More than 107,000 people in the United States died due to opioid overdoses in 2021. For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma corruption from reliable major media sources.
Drugmaker Novo Nordisk paid U.S. medical professionals at least $25.8 million over a decade in fees and expenses related to its weight-loss drugs [Wegovy and Saxenda], a Reuters analysis found. It concentrated that money on an elite group of obesity specialists who advocate giving its powerful and expensive drugs to tens of millions of Americans. Those payments are part of a campaign to convince U.S. doctors to make Wegovy one of the most widely prescribed drugs in history – and to persuade skeptical insurers to pay for it. Overall, at least 57 U.S. physicians each accepted at least $100,000 from Novo in payments associated with Wegovy or Saxenda. They were an influential group: Forty-one were obesity specialists who run weight-management clinics, work at academic hospitals, write obesity-treatment guidelines or hold top positions at medical societies, according to a Reuters review. "As sales grow, Medicare and the insurance industry come under intense pressure to pay for these hugely expensive drugs,” [Former dean of the US military's medical school Dr. Arthur] Kellermann said. “The end result is that everybody's healthcare costs go up.” U.S. and European regulators are studying whether GLP-1 drugs can cause suicidal thoughts. Reuters reported in September that at least 265 reports have been filed with the FDA since 2010 describing suicidal ideation or behavior in patients taking these drugs. Thirty-six reports described a death by suicide or suspected suicide.
Note: The money behind these obesity drug makers is staggering. The economic value of Novo Nordisk soared to over $420 billion, which exceeds the entire GDP of Denmark, its home country. As Lee Fang reports in this investigative piece on the issue, “The company is growing so fast, bringing in so many American dollars, that the Danish central bank recently devalued its currency to keep it in line with the euro.” For more along these lines, read the growing reports of concerning adverse side effects from these weight-loss drugs.
Nonprofit hospitals have been caught doing some surprising things, given how they are supposed to serve the public good in exchange for being exempt from federal, state and local taxes — exemptions that added up to $28 billion in 2020. Detailed media reports show them hounding poor patients for money, cutting nurse staffing too aggressively and giving preferential treatment to the rich over the poor. Nurses and other workers recently resorted to strikes to improve workplace safety at Kaiser Permanente and the Robert Wood Johnson University Hospital in New Brunswick, N.J. That’s not the end of it. Nonprofit executives have embarked on an acquisition spree, assembling huge systems of hospitals and physician practices to raise prices and increase profits. Ample evidence indicates that the growth of these giant systems makes health care less affordable for patients, families and businesses. Calling these hospitals nonprofits can be confusing. It doesn’t mean they can’t make money. What it means is that they are considered charities by the Internal Revenue Service (as opposed to being owned by investors, like for-profit hospitals). And in return for their tax exemptions, these institutions are supposed to invest the money that would have gone to taxes into their communities by lowering health care costs, providing community health services and free care to those unable to afford it and conducting research.
Note: For more along these lines, see concise summaries of deeply revealing news articles on health and corporate corruption from reliable major media sources.
It is against the law to use paraquat in China, Switzerland, the United Kingdom and dozens of other countries. Many countries have banned the herbicide due to its extreme toxicity, while others have expressed concerns over the possible risk for Parkinson's disease. Yet the herbicide, manufactured by a Swiss company that is owned by the Chinese state, is still widely used throughout the United States in part because it is a highly effective way to kill weeds. The company, Syngenta, says that paraquat, which it produces under the name Gramoxone, "is safe for its intended and labelled use." Clayton Tucholke, who used Gramoxone for years on his farm in LaBolt, South Dakota, and has since been diagnosed with Parkinson's disease, says otherwise. "It should have been pulled, I think, you know, so it didn't happen to somebody else," Tucholke told ABC News. The Tucholkes are among the more than 4,000 Americans who have filed lawsuits as part of a multi-district litigation against Syngenta, which currently manufactures Gramoxone, and Chevron, which distributed it in the U.S. from 1966 until 1986. Although Syngenta and Chevron told ABC News that there is no scientific evidence that supports a causal link between paraquat and Parkinson's disease, the Tucholkes and other plaintiffs allege that such a link exists, arguing that Syngenta and Chevron knew or should have known that the herbicide could "cause severe neurological injuries."
Note: Internal corporate documents reveal how global chemical giant Syngenta secretly influenced scientific research regarding links between its top-selling weedkiller and Parkinson's disease. For more along these lines, see concise summaries of deeply revealing news articles on health and food system corruption from reliable major media sources.
The Moderna misinformation reports, reported here for the first time, reveal what the pharmaceutical company is willing to do to shape public discourse around its marquee product. The mRNA COVID-19 vaccine catapulted the company to a $100 billion valuation. Behind the scenes, the marketing arm of the company has been working with former law enforcement officials and public health officials to monitor and influence vaccine policy. Key to this is a drug industry-funded NGO called Public Good Projects. PGP works closely with social media platforms, government agencies and news websites to confront the “root cause of vaccine hesitancy” by rapidly identifying and “shutting down misinformation.” A network of 45,000 healthcare professionals are given talking points “and advice on how to respond when vaccine misinformation goes mainstream”, according to an email from Moderna. An official training programme, developed by Moderna and PGP, alongside the American Board of Internal Medicine, [helps] healthcare workers identify medical misinformation. The online course, called the “Infodemic Training Program”, represents an official partnership between biopharma and the NGO world. Meanwhile, Moderna also retains Talkwalker which uses its “Blue Silk” artificial intelligence to monitor vaccine-related conversations across 150 million websites in nearly 200 countries. Claims are automatically deemed “misinformation” if they encourage vaccine hesitancy. As the pandemic abates, Moderna is, if anything, ratcheting up its surveillance operation.
Note: Strategies to silence and censor those who challenge mainstream narratives enable COVID vaccine pharmaceutical giants to downplay the significant, emerging health risks associated with the COVID shots. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the disappearance of privacy from reliable major media sources.
OpenAI was created as a non-profit-making charitable trust, the purpose of which was to develop artificial general intelligence, or AGI, which, roughly speaking, is a machine that can accomplish, or surpass, any intellectual task humans can perform. It would do so, however, in an ethical fashion to benefit “humanity as a whole”. Two years ago, a group of OpenAI researchers left to start a new organisation, Anthropic, fearful of the pace of AI development at their old company. One later told a reporter that “there was a 20% chance that a rogue AI would destroy humanity within the next decade”. One may wonder about the psychology of continuing to create machines that one believes may extinguish human life. The problem we face is not that machines may one day exercise power over humans. That is speculation unwarranted by current developments. It is rather that we already live in societies in which power is exercised by a few to the detriment of the majority, and that technology provides a means of consolidating that power. For those who hold social, political and economic power, it makes sense to project problems as technological rather than social and as lying in the future rather than in the present. There are few tools useful to humans that cannot also cause harm. But they rarely cause harm by themselves; they do so, rather, through the ways in which they are exploited by humans, especially those with power.
Note: Read how AI is already being used for war, mass surveillance, and questionable facial recognition technology.
The U.S. was in a fit of Covid panic during Thanksgiving week two years ago. By month’s end, Pfizer’s stock-market value had surpassed $300 billion, up 50% from the start of the pandemic. Moderna’s shares had soared by more than 1,000% over the same period. In 2022 Pfizer became the first pharmaceutical company to book more than $100 billion in annual sales owing to government purchases of its vaccines and antiviral pill. Fast-forward to today. The pandemic is over. Demand for Covid vaccines and treatments has plunged. Pfizer’s total revenue has fallen more than 40% since last year. Earlier this month the company took a $5.5 billion write-off on its Covid products owing to “lower-than-expected demand.” Only 14% of American adults have received the latest updated booster shots. The jabs’ greatest benefit was in providing political leaders with the courage to lift destructive lockdowns and mask mandates. The vaccines were supposed to be a two-shot-and-done regimen, not blockbuster medicines that rung up tens of billions of dollars in sales every year with government support. Statins and diabetes medicines prevent heart attacks, but the government doesn’t run ads urging Americans to use Lipitor or Ozempic. The government’s vaccine boosterism ... has increased public cynicism toward pharmaceutical companies. Drug makers can dine out on any given medicine only for so long before needing to cook up another pharmaceutical bonanza.
Note: For more along these lines, see concise summaries of deeply revealing news articles on Big Pharma profiteering and coronavirus vaccines from reliable major media sources.
The European Commission says it has decided to renew the license for the weedkiller compound glyphosate, approving its use in European Union countries for ten more years. Following the decision yesterday, the Commission released a statement saying that, on the basis of comprehensive safety assessments carried out by the European Food Safety Authority (EFSA) and the European Chemicals Agency (ECHA), it would renew the licence, “subject to certain new conditions and restrictions”. These include a ban on the use of the chemical to dry crops before harvest, and “the need for certain measures to protect non-target organisms”. Governments can still restrict the use of glyphosate in their own countries if they consider the risks too high. Glyphosate is the active ingredient in Roundup, the world’s most widely used herbicide. Some studies point to a link between glyphosate and certain cancers. Robin Mesnage, a toxicologist at King’s College London, welcomes the Commission’s decision to continue to allow the use of glyphosate. Others have expressed disappointment. “It is unacceptable that the Commission still plans to go ahead with its proposal, considering the amount of scientific evidence of the substance’s health impacts,” says Natacha Cingotti, a campaigner at the Health and Environment Alliance. “While we can’t undo the decades of exposure, the Commission can still seize the opportunity to turn the tide towards more sustainable agricultural practices.”
Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the food system from reliable major media sources.
Pesticides used in our homes, gardens and lawns and sprayed on foods we eat are contributing to a dramatic decline in sperm count among men worldwide, according to a new analysis of studies over the last 50 years. “Over the course of 50 years, sperm concentration has fallen about 50% around the world,” said senior study author Melissa Perry. “While there are likely many more contributing causes, our study demonstrates a strong association between two common insecticides —organophosphates and N-methyl carbamates — and the decline of sperm concentration.” Organophosphates are the main components of nerve gas, herbicides, pesticides and insecticides and are also used to create plastics and solvents. They are widely used in agriculture on the crops we eat. We use them in structural applications within homes and buildings. N-methyl carbamates are structurally and operationally similar to organophosphates, killing insects by damaging their brains and nervous systems. The study, published ... in the journal Environmental Health Perspectives, examined 25 studies around the world on the two chemicals. Those studies looked at 42 different levels of impact among 1,774 men in 21 different study populations. Men who were more highly exposed to the pesticides, such as those who work in agriculture, had significantly less sperm concentration than men who had the least exposure to organophosphates and N-methyl carbamates, the study found.
Note: For more along these lines, see concise summaries of deeply revealing news articles on health and food system corruption from reliable major media sources.
Federal regulators announced warnings against two major food and beverage industry groups and a dozen nutrition influencers on Wednesday, as part of a broad action to enforce stricter standards for how companies and social media creators disclose paid advertising. The Federal Trade Commission sent warning letters on Monday to American Beverage, a lobbying group whose members include Coca-Cola and PepsiCo, as well as the Canadian Sugar Institute and a dozen health influencers who collectively have over 6 million followers on TikTok and Instagram. The agency flagged nearly three dozen social media posts that it said failed to clearly disclose who was paying the influencers to promote artificial sweeteners or sugary foods. The action follows a months-long investigation by The Examination and The Washington Post that revealed how the food and beverage industry had enlisted popular dietitians to promote industry-friendly messages on social media posts that often failed to disclose the names of sponsors. Social media marketing ... has been described as the Wild West of advertising. Over $6 billion is expected to be spent on influencer marketing in the United States in 2023. The enforcement action is the first the FTC has taken against major food and beverage industry groups for social media marketing. The agency urged the trade groups and nutrition influencers to remove posts or add proper disclosures and noted that future failures could trigger fines of more than $50,000 for each violation.
Note: Read how cereal giant Kellogg used fake experts to sell its sugary cereals. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption from reliable major media sources.
Nine of the 12 members of a high-level congressional commission charged with advising on the US’s nuclear weapons strategy have direct financial ties to contractors that would benefit from the report’s recommendations or are employed at thinktanks that receive considerable funding from weapons manufacturers. While the Congressional Commission on the Strategic Posture of the United States (CCSPUS) purports to recommend steps to avoid nuclear conflict, it does nothing to disclose its own potential conflicts of interest with the weapons industry in its final report or at rollout events. “What we’ve consistently seen is the nuclear weapons industry buying influence and that means we cannot make serious decisions about our security when the industry is buying influence through thinktanks and commissioners that are skewing the debate,” said Susi Snyder, program coordinator at the International Campaign to Abolish Nuclear Weapons. “Instead of having a debate about the tools and materials we need to make ourselves safe,” she added, “we’re having a debate about which company should get the contracts.” The most recognizable member of the CCSPUS is its vice-chair, Jon Kyl, who served as a senator. In 2017 Kyl, personally, was registered to lobby for Northrop Grumman, which manufactures the B-21 nuclear bomber that the commission recommends the US should purchase in greater numbers, at a cost to taxpayers of nearly $700m each.
Note: For more along these lines, see concise summaries of deeply revealing news articles on military corruption from reliable major media sources.
If you count all the contracts for private industry from U.S. Customs and Border Protection (CBP) and U.S. Immigration and Customs Enforcement (ICE) since Joe Biden took office — for, that is, 2021, 2022, and 2023 — the number comes to $23.5 billion. And though you’d never guess it, given what we normally hear, that already beats Donald Trump’s total for his full four years in office, $20.9 billion. Or, to put the matter in a more historical perspective, private contracts for the Biden years already top the cumulative $22.5 billion spent in border and immigration enforcement budgets from 1975 to 1997. Budgets and private-sector contracts tell an all-too-familiar story in which the border-enforcement apparatus only continues to grow ever larger, regardless of who’s president. As 2023 nears its end, there have simply never been as many opportunities to make a killing (figuratively as well as literally) by surveilling, arresting, caging, and expelling people from this country. In 2023, there were 8,033 such opportunities — and I’m speaking here about contracts in play — or about 22 contracts a day. 1,421 remains of dead people were recovered along the border during Biden’s first two years in office, higher in other words than the 1,133 during Trump’s full four years. Imagine the national news stories, if the remains of nearly 1,500 hikers had been found in the Southwest during a two-year period. But for migrants in those ever more profitable, ever deadlier borderlands, mum’s the word.
Note: Carlos Arellano is a whistleblower and former immigration contractor, who alleges that the US government is the largest trafficker of children in the world. Watch an interview of Arellano share his shocking experiences at some of the immigration facilities. For further exploration of this troubling topic, read about MVM Inc, the ex-CIA defense contractor making millions of dollars hauling children away from the Mexico border on commercial airline flights. Where is the transparency about what is happening to these children?
The Oxford-AstraZeneca Covid-19 vaccine has been branded “defective” in a multi-million pound landmark legal action that will suggest claims over its efficacy were “vastly overstated”. The pharmaceutical giant is being sued in the High Court in a test case by Jamie Scott, a father-of-two who suffered a significant permanent brain injury that has left him unable to work as a result of a blood clot after receiving the jab in April 2021. A second claim is being brought by the widower and two young children of 35-year-old Alpa Tailor, who died after having the jab made by AstraZeneca. The test cases could pave the way for as many as 80 damages claims worth an estimated £80 million over a new condition known as Vaccine-induced Immune Thrombocytopenia and Thrombosis (VITT) that was identified by specialists in the wake of the AstraZeneca Covid-19 vaccine rollout. In the months following the rollout, the potential serious side effect of the AstraZeneca jab was identified by scientists. Following this, it was recommended it no longer be given to the under-40s in the UK because the risk of receiving the jab outweighed the harm posed by Covid. Official figures ... show at least 81 deaths in the UK are suspected to have been linked to the adverse reaction that caused clotting in people who also had low blood platelets. Victims and their lawyers question the Government’s monitoring of the rollout and point out that ... Germany suspended the vaccine’s use for the under 60s at the end of March 2021.
Note: In the US, when current and former FDA advisers and academics asked the FDA to improve COVID vaccine labeling given the risk of severe vaccine injuries, the agency denied almost every single request. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines from reliable major media sources.
Seventeen major food manufacturers earned an average grade of F for their lack of progress in reducing pesticides in the products they sell, according to a new analysis by As You Sow, a nonprofit specializing in shareholder advocacy. “It’s disheartening to see so many bad grades across the board for these major food production companies,” said Jane Houlihan, research director for Healthy Babies, Bright Futures. “Studies find the highest amounts of pesticides in some of the most popular foods children eat — berries and apples, for example,” said Houlihan. “Pesticides are also found in breast milk and umbilical cord blood, meaning that exposures start before birth and continue through infancy and beyond.” Long-term exposure to pesticides has been linked to cancer, asthma, anxiety, Parkinson’s disease, depression, and attention deficit and hyperactivity disorder, according to the report. Kale, collard and mustard greens contained the largest number of pesticides — 103 types — while nearly 90% of blueberry and green bean samples had concerning findings, according to the analysis. Green bean samples contained extremely high levels of acephate, an insecticide banned for use in the vegetable in 2011. Blueberry samples contained acephate, phosmet and malathion — organophosphates which interfere with the normal function of the nervous system. What can consumers do? Choosing organic foods is a surefire way to reduce pesticide exposure.
Note: Read the complete study, titled, "Pesticides in the Pantry: Transparency & Risk in Food Supply Chains." A groundbreaking study found that eating a completely organic diet (even just for a week) can dramatically reduce the presence of pesticide levels in our bodies. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption from reliable major media sources.
Meta’s top executives, including CEO Mark Zuckerberg, ignored warnings for years about harms to teens on its platforms such as Instagram, a company whistleblower told a Senate subcommittee. Meta instead fosters a culture of “see no evil, hear no evil” that overlooks evidence of harm internally while publicly presenting carefully crafted metrics to downplay the issue, said Arturo Bejar, an ex-Facebook engineering director and consultant. Bejar is the latest former insider to level public allegations that the tech giant knowingly turns a blind eye to problems that its policies and technology cannot cheaply or easily address. [Bejar] first became motivated to study the issue because of unwanted sexual advances his own 14-year-old daughter received from strangers on Instagram. “It is unacceptable that a 13-year-old girl gets propositioned on social media,” Bejar testified, citing a statistic from his research finding that more than 25% of 13-to-15-year-olds have reported receiving unwanted sexual advances on Instagram. Lawmakers on Tuesday ripped into the social media giant. “They hid from this committee and all of Congress evidence of the harms that they knew was credible,” said ... Sen. Richard Blumenthal. Missouri Republican Josh Hawley blasted Big Tech companies for spending “gobs” of money ... to thwart bills that would restrict the industry’s power. He also accused Meta of “cooking the books” on data related to mental health harms.
Note: Read how Instagram connects a vast pedophile network. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption from reliable major media sources.
New Yorkers may have noticed an unwelcome guest hovering round their parties. In the lead-up to Labour Day weekend the New York Police Department (NYPD) said that it would use drones to look into complaints about festivities, including back-yard gatherings. Snooping police drones are an increasingly common sight in America. According to a recent survey by researchers at the Northwestern Pritzker School of Law, about a quarter of police forces now use them. Among the NYPD’s suppliers is Skydio, a Silicon Valley firm that uses artificial intelligence (AI) to make drones easy to fly. The NYPD is also buying from BRINC, another startup, which makes flying machines equipped with night-vision cameras that can smash through windows. Facial-recognition software is now used more widely across America, too, with around a tenth of police forces having access to the technology. A report released in September by America’s Government Accountability Office found that six federal law-enforcement agencies, including the FBI and the Secret Service, were together executing an average of 69 facial-recognition searches every day. Among the top vendors listed was Clearview AI. Surveillance capabilities may soon be further fortified by generative AI, of the type that powers ChatGPT, thanks to its ability to work with “unstructured” data such as images and video footage. The technology will let users “search the Earth for objects”, much as Google lets users search the internet.
Note: For more along these lines, see concise summaries of deeply revealing news articles on police corruption and the disappearance of privacy from reliable major media sources.
Anti-vaccine advocates have recently made allegations against the Pfizer COVID-19 vaccine in hopes that the charges may hurt the drug manufacturer. In a series of posts on X (formerly Twitter), Steve Kirsch expressed concern over reports that Pfizer's vaccine was contaminated, saying that the Food and Drug Administration (FDA) "is now at a crossroads." "Either they admit that they knew about the plasma contamination, and failed to disclose that to the public and to the outside committees, or they can claim that they didn't know about it in which case Pfizer is liable. But we have the Pfizer documents that were given to the FDA so we know what the FDA got," Kirsch wrote. "I seriously doubt there's any disclosure of SV40 contamination. That means we have an adulterated vaccine and the FDA has to remove it from the market until the adulteration is fixed. If the FDA doesn't do that, they should face criminal prosecution for endangering the public, and not following the law." (SV40 refers to simian virus 40.) In his posts, Kirsch also references an incident in Michigan where a judge ruled that the manufacturer of the COVID-19 medication Remdesivir was no longer protected by the federal Public Readiness and Emergency Preparedness (PREP) Act after a man filed a lawsuit against the manufacturer. The man filed the suit after suffering strokes and an amputation following treatment with the drug, Remdesivir, which was contaminated with glass particles.
Note: While the data is still being uncovered, read an in-depth, scientific investigation into vaccine contamination, including concerns that Pfizer hid this contamination from regulators. For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines from reliable major media sources.
Ever since Israel responded to Hamas’s atrocities with a vicious onslaught that has killed more than 8,000 Palestinians there has been an attempt to silence, intimidate and harass Palestinian sympathisers. Inevitably, it is Palestinians who suffer the brunt of a campaign to stigmatise even the most basic opposition to the mass slaughter of their people. Viet Thanh Nguyen, the son of refugees and a sympathiser with other displaced people, had a talk at the 92nd Street Y centre in New York postponed after he signed an open letter demanding an “end to the violence and destruction in Palestine”. What of the US Campaign for Palestinian Rights, whose longstanding conference in Houston was cancelled following the Orthodox Jewish Chamber of Commerce describing the event as “a conference for Hamas supporters”? The Hilton cited security concerns as the reason for the cancellation. The keynote speaker, Rashida Tlaib, the first ever elected Palestinian-American congresswoman, has been targeted by a Republican smear campaign, with an attempt to censure her for “antisemitic activity” and “sympathising with terrorist organisations” – all baseless attacks. Meanwhile, MSNBC reportedly stopped three of its Muslim broadcasters from presenting their shows, with no explanation. The broadcaster claimed any change in programming as “coincidental”. This intimidation has deadly consequences: it undermines public pressure on Israel’s western allies to stop the slaughter and end the occupation.
Note: For more along these lines, see concise summaries of deeply revealing news articles on war and media manipulation from reliable sources.
The United Nations has warned that there was “clear evidence” that war crimes may have been committed in “the explosion of violence in Israel and Gaza”. Meanwhile, Wall Street is hoping for an explosion in profits. During third-quarter earnings calls this month, analysts from Morgan Stanley and TD Bank took note of this potential profit-making escalation in conflict and asked unusually blunt questions about the financial benefit of the war between Israel and Hamas. TD Cowen’s Cai von Rumohr, managing director and senior research analyst specializing in the aerospace industry, [asked] about the upside for General Dynamics, an aerospace and weapons company in which TD Asset Management holds over $16m in stock. The aerospace and weapons sector ... enjoyed a 7-percentage point jump in value in the immediate aftermath of Hamas’s 7 October attack on Israel and the beginning of Israel’s bombardment of Gaza. “Hamas has created additional demand, we have this $106bn request from the president,” said Von Rumohr, during General Dynamics’ earnings call on 25 October. “Can you give us some general color in terms of areas where you think you could see incremental acceleration in demand?” Aside from the callousness of casually discussing the financial benefits of far-off armed conflict, the comments raise questions about whether these major institutional shareholders of weapons stocks are abiding by their own human rights policies.
Note: For more along these lines, see concise summaries of deeply revealing news articles on war and corporate corruption from reliable major media sources.
The number of corporate prosecutions under President Joe Biden’s Department of Justice in 2022 hovered near the lowest level in decades, according to a new analysis published by the good government group Public Citizen. Federal prosecutors concluded just 99 criminal cases against corporations in 2022, the same number as Donald Trump’s DOJ during his second year, and only a modest increase from the 90 cases the agency brought in 2021. As a consequence, the pace of new prosecutions is at its lowest point since the start of the Clinton administration. “The light-touch approach to enforcement creates opportunities for corporate scofflaws to push the limits of what is legally allowed — risking our health and safety, our environment, our finances, and our communities — in their efforts to maximize profits,” the report warned. The slow pace of enforcement continues a two-decade decline that started after 2000, when there were three times as many corporate prosecutions as today. The Biden administration has also presided over a decline in deferred prosecution agreements and non-prosecution agreements, which the DOJ can use as an alternative to filing charges for corporate malfeasance. These more lenient agreements typically involve large multinational companies. In 2022, there were just 11. Biden’s DOJ has also expanded a policy that allows corporations to self-report misconduct in exchange for the government’s guarantee not to prosecute.
Note: For more along these lines, see concise summaries of deeply revealing news articles on government corruption from reliable major media sources.
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