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Corporate Corruption News Articles

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Wells Fargo charged 570,000 customers for auto insurance they didnt need
2017-07-28, Washington Post
https://www.washingtonpost.com/news/business/wp/2017/07/28/wells-fargo-charge...

Wells Fargo acknowledged Friday that for six years about 570,000 of its customers were charged for auto insurance they didnt need, potentially driving some to default on their loan and have their cars repossessed. The San Francisco bank said it would start refunding about $80 million, or about $140 each, to customers next month. The revelation quickly sparked a backlash from lawmakers still angry after Wells Fargo admitted last year that thousands of its employees had created millions of fake credit card and bank accounts for customers without their knowledge. No wonder so many hard-working Americans believe the system is rigged against them in Wall Streets favor, Sen. Sherrod Brown, the ranking Democrat on the Banking Committee, said in a statement. Sen. Elizabeth Warren ... renewed her call for the Federal Reserve to force Wells Fargos board of directors to resign. There are surely deep ... problems at a bank when it opens millions of fake customer accounts and charges nearly a million customers for a financial product they dont need, Warren said in a statement. The Wells Fargo Board is ultimately responsible for that failure. Wells Fargo said the most recent scandal is centered on its auto lending business. Customers loan contracts require them to maintain auto insurance and allow the bank to buy it for them if there is no evidence that the customers have a policy, the bank said. But ... customers were being charged for auto insurance premiums even though they already had another policy.

Note: Read more about the massive fraud perpetrated by Wells Fargo. Steve Glazer, chairman of the California Senate Banking and Financial Institutions Committee, recently compared this bank's actions with the behavior of Enron when its culture of corruption initially came to light. For more along these lines, see concise summaries of deeply revealing banking corruption news articles from reliable major media sources.


Rich Americans live up to 15 years longer than poor peers, studies find
2017-04-06, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/us-news/2017/apr/06/us-healthcare-wealth-income-i...

Increasing inequality means wealthy Americans can now expect to live up to 15 years longer than their poor counterparts, reports in the British medical journal the Lancet have found. Researchers said these disparities appear to be worsened by the American health system itself, which relies on for-profit insurance companies, and is the most expensive in the world. Their conclusion? Treat healthcare as a human right. The Lancet studies looked at how the American health system affects inequality and structural racism, and how mass incarceration and the Affordable Care Act (ACA), also known as Obamacare, have changed public health. Among the studies key findings: the richest 1% live up to 15 years longer than the poorest 1%; the same gap in life expectancy widened in recent decades, making poverty a powerful indicator for death; more than one-third of low-income Americans avoid medical care because of costs; the poorest fifth of Americans pay twice as much for healthcare as a share of income; and life expectancy would have grown 51.1% more from 1983 to 2005 had mass incarceration not accelerated in the mid-1980s. The poorest Americans have suffered in particular, with life expectancies falling in some groups even while medicine has advanced. All of these health outcomes arrive in the context of widening general inequality. The share of total income going to the top 1% of earners has more than doubled since 1970.

Note: For more along these lines, see concise summaries of deeply revealing news articles on income inequality and health.


Mayo Clinic researchers demonstrate value of second opinions
2017-04-04, Mayo Clinic News Network
http://newsnetwork.mayoclinic.org/discussion/mayo-clinic-researchers-demonstr...

Many patients come to Mayo Clinic for a second opinion or diagnosis confirmation before treatment for a complex condition. In a new study, Mayo Clinic reports that as many as 88 percent of those patients go home with a new or refined diagnosis changing their care plan and potentially their lives. Conversely, only 12 percent receive confirmation that the original diagnosis was complete and correct. When people are sick, they look to their doctor to find solutions. However, physicians dont always have the answers. Often ... the physician will recommend a second opinion. Other times, the patient will ask for one. This second opinion could lead to quicker access to lifesaving treatment or stopping unnecessary treatments. The [study's research] team compared the referring diagnosis to the final diagnosis to determine the level of consistency between the two. In 21 percent of the cases, the diagnosis was completely changed; and 66 percent of patients received a refined or redefined diagnosis. Effective ... treatment depends on the right diagnosis, says Dr. Naessens. Knowing that more than 1 out of every 5 referral patients may be completely [and] incorrectly diagnosed is troubling ─ not only because of the safety risks for these patients ... but also because of the patients we assume are not being referred at all. Insurers often limit access to care outside their network, effectively limiting referrals. Further, primary care providers may be more confident in their diagnostic expertise than warranted.

Note: Medical error kills an estimated 251,454 people in the US every year, making it the third leading cause of death in the US. And prescription drugs were reported to have caused 123,000 deaths and 800,000 adverse patient outcomes such as disability in the US in 2014 alone. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.


Sick, dying and raped in America's nursing homes
2017-02-27, CNN News
http://www.cnn.com/interactive/2017/02/health/nursing-home-sex-abuse-investig...

The unthinkable is happening at facilities throughout the country: Vulnerable seniors are being raped and sexually abused by the very people paid to care for them. It's impossible to know just how many victims are out there. But through an exclusive analysis of state and federal data and interviews with experts, regulators and the families of victims, CNN has found that this little-discussed issue is more widespread than anyone would imagine. In cases reviewed by CNN, victims and their families were failed at every stage. Nursing homes were slow to investigate and report allegations because of a reluctance to believe the accusations - or a desire to hide them. Police viewed the claims as unlikely at the outset, dismissing potential victims because of failing memories or jumbled allegations. State regulators failed to flag patterns of repeated allegations against a single caregiver. It's these systemic failures that make it especially hard for victims to get justice - and even easier for perpetrators to get away with their crimes. Using inspection reports filed between 2013 and 2016 [a CNN analysis] found that the federal government has cited more than 1,000 nursing homes for mishandling or failing to prevent alleged cases of rape, sexual assault and sexual abuse at their facilities during this period. And nearly 100 of these facilities have been cited multiple times during the same period. These numbers likely represent only a fraction of the alleged sexual abuse incidents in nursing homes nationwide.

Note: For more along these lines, see concise summaries of deeply revealing sexual abuse scandal news articles from reliable major media sources.


Reality Check: Is 'Pizzagate' Fake News? [See important note]
2017-01-17, CBS News (Atlanta affiliate)
http://www.cbs46.com/category/306621/reality-check-with-ben-swann

Important Note: WantToKnow.info manager Fred Burks watched the CBS news video at the link above one day after it was posted. Two days later, Fred clicked on the same link only to find the video there had been replaced with one titled "Why Reports on Trump Are Fake News." The original video was gone. This is unprecedented and suggests someone did not want you to see this video. Fred managed to download the video before it disappeared. You can watch it now on this webpage.

What exactly is Pizzagate? [It began with] the WikiLeaks release of hacked emails from Clinton campaign chairman John Podesta. [Some emails suggest] Podesta may be part of a child sex trafficking ring. Podesta talks about his close relationship with Dennis Hastert, the former Speaker of the House who was recently sentenced to 15 months in prison for abusing boys. To be clear, not one single email discusses child sex trafficking. But there are dozens of ... strangely worded emails dealing with pizza. Those words [may be] code language used by pedophiles. Comet Ping Pong Pizza [is referenced] at least a dozen or so times. The owner of that place, James Alefantis, is a friend of John Podesta. He was actually named ... by GQ magazine as one of the top 50 most powerful people in Washington. Comet Ping Pong ... is a place where a number of performance artists perform [including] a group called Heavy Breathing and another called Sex Stains. Heavy Breathing has songs that do joke about pedophilia. [Alefantis] has made his Instagram profile private, but an archive search of Instagram reveals a number of strange photographs and words with ... disturbing images. According to the Washington Post, visitors to [John's brother] Tony Podesta's home in Falls Church "got an eye full when they walked into a bedroom ... hung with multiple color pictures by Katy Grannan, a photographer known for documentary style pictures of naked teenagers in their parents suburban homes." That just begins to scratch the surface of how strange some of the stuff is.

Note: Explore the retrieved Instagram account of James Alefantis and you will understand why this is so important. Read what may be the most level-headed exploration of Pizzagate. For undeniable evidence of powerful child prostitution rings leading to the highest levels of government, watch the suppressed Discovery Channel documentary "Conspiracy of Silence." An excellent segment by Australia's "60-Minutes" team "Spies, Lords and Predators" also covers a pedophile ring in the UK which leads to the highest levels of government. See also news articles on sex abuse scandals.


Feds Arrest 6 Former Insys Execs for Allegedly Bribing Doctors
2016-12-08, Fortune
http://fortune.com/2016/12/08/insys-execs-charged-bribing-doctors-fentanyl/

FBI agents arrested former Insys Therapeutics CEO Michael Babich and five other former company executives on Thursday for allegedly bribing doctors to prescribe an extremely addictive opioid painkiller to patients who didnt need it. The Department of Justice (DOJ) alleges that the executives took part in a nationwide conspiracy to give healthcare providers kickbacks in exchange for the improper prescribing of Subsys - an opioid medication containing the highly addictive substance fentanyl, which is considered even more dangerous than painkillers like Vicodin. Subsys is meant to provide pain relief to cancer patients who are going through particularly excruciating pain episodes. Its reserved for these neediest of patients due to its potency and addictive qualities. But federal prosecutors allege that Babich and his co-conspirators doled out kickbacks to doctors who prescribed the drug even to non-cancer patients, and even set up a special reimbursement unit to sway insurance companies and pharmacy benefits managers to provide coverage for these non-authorized uses. The charges range from racketeering to conspiracy to mail and wire fraud. The FBIs actions come in the wake of a newly invigorated federal effort to tackle the prescription painkiller epidemic, which has claimed the lives of more than 165,000 Americans since 1999.

Note: These charges come on the heels of an ex-DEA official's public accusation that Congress has been helping drug makers avoid responsibility for their role in the US opioid epidemic. How many deaths and ruined lives are being caused by greedy executives and the politicians in their pockets? For more along these lines, see concise summaries of deeply revealing Big Pharma corruption news articles from reliable major media sources.


Placebos Help Kids With Migraines as Well as Drugs Do
2016-10-28, NBC News
http://www.nbcnews.com/health/health-news/placebos-help-kids-migraines-well-d...

Sugar pills worked as well at preventing kids' migraines as two commonly used headache medicines, but had fewer side effects, in a study that may lead doctors to rethink how they treat a common ailment in children and teens. It's the first rigorous head-to-head test in kids of two generic prescription drugs also used for adults' migraines: topiramate, an anti-seizure medicine, and amitriptyline, an anti-depressant. The idea was to see if either drug could reduce by half the number of days kids had migraines over a month's time. Both drugs worked that well - but so did placebo sugar pills. The results "really challenge what is typical practice today by headache specialists," said study author Scott Powers, a psychologist at Cincinnati Children's Hospital. "The fact that it shows that two of the most commonly used medications are no more effective than a placebo and have adverse effects makes a very clear statement," said Dr. Leon Epstein, neurology chief at Ann & Robert Lurie H. Children's Hospital of Chicago. The only government-approved migraine medication for kids is topiramate. Side effects from the drugs [included] fatigue, dry mouth and forgetfulness. Kids on topiramate also had tingling sensations in their hands, arms, legs or feet. There was one suicide attempt in the topiramate group, another known side-effect of that drug. The side effects were not unexpected, but given the risks, the results suggest the drugs shouldn't be "first-line prevention treatments" for kids' migraines, Powers said.

Note: This study was published in the New England Journal of Medicine. For more, see this mercola.com article. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.


AT&T Secretly Selling Customers Data to Law Enforcement
2016-10-25, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/entertainment/the-wrap/article/AT-T-Secretly-Selling-Cu...

AT&T runs a secret program called Project Hemisphere that that searches millions and millions of call records and analyzes cellular data to help law enforcement spy on Americans, according to documents obtained by The Daily Beast. Police use the data to solve crimes by monitoring if specific cellular towers in the vicinity of wrongdoings picked up a known suspects cell phone. The surveillance project comes to light as the company is on the verge of acquiring Time Warner in one of the biggest media mergers in memory. Law enforcement agencies pay from $100,000 to over $1 million a year for Hemisphere access. Back in 2013, The New York Times called Hemisphere a partnership between AT&T and the government, but Daily Beast says its actually a product AT&T developed, marketed, and sold at a cost of millions of dollars per year to taxpayers. No warrant is required to access Hemisphere, but it does require a promise not to publicly disclose Hemisphere. AT&T owns significant shares in both the landline and cell phone space, which allows the company to possess information that is used by at least 28 intelligence centers. Documents show that AT&T wants to keep Hemisphere a secret, but suspects and anyone charged with a crime have the right to know the evidence against them. The Government agency agrees not to use the data as evidence in any judicial or administrative proceedings unless there is no other available and admissible probative evidence, documents obtained by the Beast said.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the disappearance of privacy.


MDs Say US Costs For Valeant's Lead Poisoning Drug Are 33,000% More Than Canada's
2016-10-06, Forbes
http://www.forbes.com/sites/emilywillingham/2016/10/16/cost-for-valeants-lead...

Using the playbook of Mylan, Turing and, well, their own company, Valeant Pharmaceuticals has hiked the price of yet another life-saving treatment to astronomical values. This time, its calcium EDTA, a lead poisoning treatment that cost US hospitals and poison control centers about $500 for a packet of six ampules (6 grams) before 2012, when Valeant acquired the drug. Poison control experts now say that US centers pay about $5000 per gram for the drug, compared to $15 per gram for Canadians. In a 6-year period ... Valeant increased the US price of the drug by as much as 7200%. Two physicians - Michael Kosnett from the University of Colorado School of Medicine and Timur Durrani at the University of California, San Francisco (UCSF) - expressed their concerns about these price hikes in a letter to U.S. Rep. Elijah Cummings (D-Md), the ranking member of the House Committee on Oversight and Government Reform. According to Kosnett and Durrani, the average price per milliliter for the drug went from $18.57 in 2008 to $1346.37 in 2014. U.S. hospitals have no other source for calcium EDTA. Most of those who develop acute lead poisoning are children. The effects of lead poisoning are lasting and profound. Calcium EDTA is on the World Health Organizations Model List of Essential Medicines, which lists medications that are most critical for a healthcare system to have on hand.

Note: For more along these lines, see concise summaries of deeply revealing Big Pharma corruption news articles from reliable major media sources.


Public understands Wells Fargos bad behavior, thats the problem
2016-09-28, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfchronicle.com/opinion/editorials/article/Public-understands-Well...

Following widespread outrage and a blistering Senate Banking Committee hearing last week, Wells Fargo CEO John Stumpf has said hell forfeit his outstanding stock awards of about $41 million. Wells Fargos former retail-banking head, Carrie Tolstedt, has agreed to forfeit outstanding stock awards of about $19 million. The givebacks are being done in response to charges that the bank opened some 2 million fraudulent deposit and credit card accounts in its customers names. Wells Fargo had already agreed to pay $185 million to settle those charges with regulators, but, clearly, that wasnt enough. The public is worn out by Wall Streets bad behavior - and its also tired of watching low-level employees be scapegoated while top executives get off scot-free. Wells had fired more than 5,000 employees connected to the illegal sales practices, but done nothing to punish senior executives. No one is buying the story that a scandal this large was the work of rogue employees at the bottom of the totem pole. Part of the reason for the alleged unauthorized accounts was employees were pressured to meet unachievable sales goals. Wells has also pledged to end the controversial sales goal program for employees in the retail banking division. The financial meltdown of 2008 ... resulted out of extreme complexity - most politicians and citizens cant parse a credit default swap. Opening a bank account in someone elses name without their permission, however, is a wrong that everyone can understand.

Note: For more along these lines, see concise summaries of deeply revealing banking corruption news articles from reliable major media sources.


Leaked documents reveal secretive influence of corporate cash on politics
2016-09-14, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/us-news/2016/sep/14/corporate-cash-john-doe-files...

The pervasive influence of corporate cash in the democratic process, and the extraordinary lengths to which politicians, lobbyists and even judges go to solicit money, are laid bare in sealed court documents leaked to the Guardian. The John Doe files amount to 1,500 pages of largely unseen material gathered in evidence by prosecutors investigating alleged irregularities in political fundraising. Last year the Wisconsin supreme court ordered that all the documents should be destroyed, though a set survived that has now been obtained by the news organisation. The files open a window on a world that is very rarely glimpsed by the public, in which millions of dollars are secretly donated by major corporations and super-wealthy individuals to third-party groups in an attempt to sway elections. Five Wisconsin prosecutors carried out a deep investigation into what they suspected were criminal campaign-finance violations by the campaign committee of Scott Walker, Wisconsin governor. In 2015, Justice Prosser refused to recuse himself from a case in which the state supreme court sat in judgment over the John Doe investigation, despite the fact that the investigation focused on precisely the same network of lobbying groups and donors that had helped him hang onto his seat. The judge joined a majority of four conservative justices who voted to terminate the investigation and destroy all the documents now leaked to the Guardian.

Note: For more along these lines, see concise summaries of deeply revealing news articles about corruption in elections and in the judicial system.


Elizabeth Warren Asks Newly Chatty FBI Director to Explain Why DOJ Didnt Prosecute Banksters
2016-09-14, The Intercept
https://theintercept.com/2016/09/15/elizabeth-warren-asks-newly-chatty-fbi-di...

Like a lot of other Americans, Sen. Elizabeth Warren wants to know why the Department of Justice hasnt criminally prosecuted any of the major players responsible for the 2008 financial crisis. On Thursday, Warren released two highly provocative letters demanding some explanations. One is to DOJ Inspector General Michael Horowitz, requesting a review of how federal law enforcement managed to whiff on all 11 substantive criminal referrals submitted by the Financial Crisis Inquiry Commission (FCIC), a panel set up to examine the causes of the 2008 meltdown. The other is to FBI Director James Comey, asking him to release all FBI investigations and deliberations related to those referrals. The FCICs criminal referrals ... have never been made public. But Warrens staff reviewed thousands of other documents released in March ... and found descriptions and records of them. They detail potential violations of securities laws by 14 different financial institutions: most of Americas largest banks. And the FCIC named names, specifying nine top-level executives who should be investigated on criminal charges: CEO Daniel Mudd and CFO Stephen Swad of Fannie Mae; CEO Martin Sullivan and CFO Stephen Bensinger of AIG; CEO Stan ONeal and CFO Jeffrey Edwards of Merrill Lynch; and CEO Chuck Prince, CFO Gary Crittenden, and Board Chairman Robert Rubin of Citigroup. None of the 14 financial firms listed in the referrals were criminally indicted or brought to trial, Warren writes. Only five of the 14 even paid fines.

Note: For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the financial industry.


Wells Fargo fired 5,300 workers for improper sales push. The executive in charge is retiring with $125 million.
2016-09-13, Washington Post
https://www.washingtonpost.com/news/wonk/wp/2016/09/13/wells-fargo-fired-5300...

When Wells Fargo was hit last week with $185 million in fines after thousands of its employees were caught setting up fake accounts customers didn't ask for, regulators heralded the settlement as a breakthrough. But the fines being levied against Wells Fargo pale in comparison to the bank's yearly profit - more than $20 billion in 2015. It is also less than the more than $200 million that the stock in the company held by company's chief executive, John G. Stumpf is worth. The fines also are not that much more than the $125 million one of its top executives, Carrie Tolstedt, will walk away with when she retires this year. "There are two possibilities: Customer abuse was part of business model, in which case lots of high ranking people need to go to prison," said Bart Naylor, a financial policy advocate. "Or the bank is too big to manage, and folks high up dont even know that laws are being broken a few levels down." The magnitude of the fraud described by regulators should be thoroughly investigated, five Democratic lawmakers said in a letter to the head of the Senate Banking Committee, Richard Shelby (R-Ala.), asking for a hearing on the case. The lawmakers, including Sen. Robert Menendez of New Jersey, said Wells Fargo's CEO, John G. Stumpf, should be called to testify. "It is difficult to believe a large-scale, coordinated [scheme] like this took place without knowledge of some higher ups," Menendez said in an interview.

Note: For more along these lines, see concise summaries of deeply revealing banking corruption news articles from reliable major media sources.


UBS whistleblower exposes 'political prostitution' all the way up to President Obama
2016-08-25, International Business Times
http://www.ibtimes.co.uk/ubs-whistleblower-exposes-political-prostitution-all...

UBS, the world's largest wealth manager, is facing embarrassment over fresh revelations going back to the tax investigation that led to the collapse of Swiss banking secrecy. Two significant events are looming before UBS. The first is the possibility of a public trial in France, featuring UBS whistleblower Bradley Birkenfeld, concerning historic tax evasion allegedly orchestrated by the bank. The other is the publication ... of Birkenfeld's scathing new book, Lucifer's Banker, which covers his time at UBS. The tax evasion controversy, which was first highlighted in 2005, subsequently involved the US Department of Justice, the State Department and Internal Revenue Service. It was prompted by disclosures made by Birkenfeld that UBS had helped wealthy US citizens evade taxes. In 2009, UBS paid $780m (588m, 693m) to US authorities to avoid prosecution. Birkenfeld served 31 months in prison for one count of conspiracy to abet tax evasion by one of his clients. After he was released he was paid a record $104m by the IRS for helping recover unpaid taxes. However, Birkenfeld has since said that he was systematically prevented from giving testimony in open court but this may be about to change thanks to the French authorities. Birkenfeld claims the UBS coverup stretches to the highest levels of the US establishment. He promises four big names will be exposed in his book, [and] claims there was a glaring conflict of interest involving then Senator Barack Obama, which essentially placed him on the UBS payroll.

Note: Read a New York Times article on how this courageous whistleblower managed to beat the system.As a result of Birkenfeld's disclosures, Obama's suspicious ties with UBS were reported in 2010. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the financial industry.


Mylan CEO's Pay Rose Over 600 Percent as EpiPen Price Rose 400 Percent
2016-08-23, NBC News
http://www.nbcnews.com/business/consumer/mylan-execs-gave-themselves-raises-t...

EpiPen prices aren't the only thing to jump at Mylan. Executive salaries have also seen a stratospheric uptick. Proxy filings show that from 2007 to 2015, Mylan CEO Heather Bresch's total compensation went from $2,453,456 to $18,931,068, a 671 percent increase. During the same period, the company raised EpiPen prices, with the average wholesale price going from $56.64 to $317.82, a 461 percent increase. In 2007 the company bought the rights to EpiPen, a device used to provide emergency epinephrine to stop a potentially fatal allergic reaction and began raising its price. In 2008 and 2009, Mylan raised the price by 5 percent. At the end of 2009 it tried out a 19 percent hike. The years 2010-2013 saw a succession of 10 percent price hikes. And from the fourth quarter of 2013 to the second quarter of 2016, Mylan steadily raised EpiPen prices 15 percent every other quarter. After Mylan acquired EpiPen the company also amped up its lobbying efforts. In 2008, its reported spending on lobbying went from $270,000 to $1.2 million, according to opensecrets.org. Legislation that enhanced its bottom line followed, with the FDA changing its recommendations in 2010 that two EpiPens be sold in a package instead of one. And in 2013 the government passed a law to give block grants to states that required they be stocked in public schools.

Note: For more, see this CNBC article. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the pharmaceutical industry.


Researchers or Corporate Allies? Think Tanks Blur the Line
2016-08-07, New York Times
http://www.nytimes.com/2016/08/08/us/politics/think-tanks-research-and-corpor...

Think tanks, which position themselves as universities without students, have power in government policy debates because they are seen as researchers independent of moneyed interests. But in the chase for funds, think tanks are pushing agendas important to corporate donors, at times blurring the line between researchers and lobbyists. And they are doing so while reaping the benefits of their tax-exempt status, sometimes without disclosing their connections to corporate interests. On issues as varied as military sales to foreign countries, international trade, highway management systems and real estate development, think tanks have frequently become vehicles for corporate influence and branding campaigns. This is about giant corporations who figured out that by spending, hey, a few tens of millions of dollars, if they can influence outcomes here in Washington, they can make billions of dollars, said Senator Elizabeth Warren, Democrat of Massachusetts, a frequent critic of undisclosed Wall Street donations to think tanks. Washington has seen a proliferation of think tanks, particularly small institutions with narrow interests tied to specific industries. At the same time, the brand names of the field have experienced explosive growth. [The Brookings Institution]s annual budget has doubled in the last decade, to $100 million. The American Enterprise Institute is spending at least $80 million on a new headquarters in Washington, not far from where the Center for Strategic and International Studies built a $100 million office tower.

Note: Read more about how big money buys off institutions democracy depends on. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the corporate world.


This Company Has Built a Profile on Every American Adult
2016-08-05, BloombergBusinessweek
http://www.bloomberg.com/news/articles/2016-08-05/this-company-has-built-a-pr...

For more than a decade, professional snoops have been able to search troves of ... addresses, DMV records, photographs of a persons car - and condense them into comprehensive reports costing as little as $10. Now they can combine that information with the kinds of things marketers know about you, such as which politicians you donate to, what you spend on groceries, and whether its weird that you ate in last night, to create a portrait of your life and predict your behavior. IDI, a year-old company in the so-called data-fusion business, is the first to centralize and weaponize all that information for its customers. Chief Executive Officer Derek Dubner says the system isnt waiting for requests from clients - its already built a profile on every American adult, including young people who wouldnt be swept up in conventional databases, which only index transactions. These personal profiles include all known addresses, phone numbers, and e-mail addresses; every piece of property ever bought or sold, plus related mortgages; past and present vehicles owned; criminal citations, from speeding tickets on up; voter registration; hunting permits; and names and phone numbers of neighbors. The reports also include photos of cars taken by private companies using automated license plate readers - billions of snapshots tagged with GPS coordinates and time stamps to help PIs surveil people or bust alibis. IDI also runs two coupon websites ... that collect purchasing and behavioral data.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the erosion of privacy.


Medicare safeguard overwhelmed by pricey drugs
2016-07-24, Seattle Times/Associated Press
http://www.seattletimes.com/business/ap-exclusive-medicare-safeguard-overwhel...

A safeguard for Medicare beneficiaries has become a way for drugmakers to get paid billions of dollars for pricey medications at taxpayer expense. The cost of Medicares catastrophic prescription coverage jumped by 85 percent in three years, from $27.7 billion in 2013 to $51.3 billion in 2015. Out of some 2,750 drugs covered by Medicares Part D benefit, two pills for hepatitis C infection - Harvoni and Sovaldi - accounted for nearly $7.5 billion in catastrophic drug costs in 2015. Medicares catastrophic coverage was originally designed to protect seniors with multiple chronic conditions from the cumulatively high costs of taking many different pills. Beneficiaries pay 5 percent after they have spent $4,850 of their own money. With some drugs now costing more than $1,000 per pill, that threshold can be crossed quickly. Lawmakers who created Part D in 2003 also hoped added protection would entice insurers to participate in the program. Medicare pays 80 percent of the cost of drugs above a catastrophic threshold that combines spending by the beneficiary and the insurer. That means taxpayers, not insurers, bear the exposure for the most expensive patients. Catastrophic spending accounts for a fast-growing share of Medicares drug costs, which totaled nearly $137 billion in 2015. The catastrophic share was 37 percent, yet only about 9 percent of beneficiaries reached the threshold for such costs. Catastrophic coverage will soon cost as much as the entire prescription program did when it launched. Experts say the rapid rise in spending for pricey drugs threatens to make the popular prescription benefit financially unsustainable.

Note: Read an excellent essay by former New England Journal of Medicine editor Dr. Marcia Angell exposing The Truth About the Drug Companies. For more along these lines, see concise summaries of deeply revealing Big Pharma profiteering news articles from reliable major media sources.


Drugmakers pay $67 million to settle claims they exaggerated cancer drug's effectiveness
2016-06-07, Los Angeles Times
http://www.latimes.com/business/la-fi-genentech-tarceva-settlement-20160607-s...

Genentech and another drugmaker will pay $67 million to settle claims that they misled doctors into prescribing a treatment to lung cancer patients for whom the companies knew it would not work. As a result, some patients may have died earlier than they would have if they had taken more effective drugs, a lawsuit brought by a former Genentech employee and joined by federal prosecutors alleges. From 2006 to 2011 Genentech and its marketing partner OSI Pharmaceuticals promoted Tarceva to treat all patients with non-small-cell lung cancer even though studies had shown that it worked for just those who had never smoked or had a certain gene mutation known as EGFR. Epidermal growth factor receptor is a type of protein found on the surface of cells in the body. The whistle-blower lawsuit was filed in 2011 by Brian Shields, who worked as a Tarceva sales representative and then a product manager. The lawsuit said the companies ... discouraged doctors from testing patients for EGFR. The companies also promoted Tarceva ... by giving doctors illegal kickbacks disguised as fees for making speeches or serving on Genentechs advisory boards. Sales representatives across the country were instructed to spend lavishly on physicians, the case said, and given an unlimited budget to wine and dine. Genentech also organized lunches or dinners for lung cancer patients where patient ambassadors were paid fees to speak about how Tarceva could be used in ways never approved by regulators, the lawsuit said.

Note: While Genentech was inaccurately describing its new drugs to doctors and patients, this company was also fiercely lobbying to prevent others from selling affordable alternatives to its costly drugs. Practices like this, along with the suppression of promising cancer research, show how Big Pharma puts profit before people.


Bilderberg: still powerful but perhaps a bit more anxious this year
2016-06-07, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/world/2016/jun/07/bilderberg-conference-dresden-c...

Prime ministers, finance ministers, leading entrepreneurs and a former spy chief are among the attendees at this years influential Bilderberg conference ... which begins on Thursday in Dresden. The German military has been drafted in to oversee security. Theyre working with corporate security from Airbus to make sure the politicians are kept safely away from the press for the entire three-day conference. Every year, a major corporation with links to the Bilderberg steering committee coordinates security for the event with the police. Which makes the whole conference even more obviously the corporate lobbying event that it is - with giant corporations handling everything from security to dry ice. And it makes the silence of the politicians who attend even more egregious. These high-level talks between policymakers and the heads of transnational oil companies ... take place in heavily guarded privacy, with no press oversight whatsoever. [This is] especially great if youre on the board of BP. Like, for example, Sir John Sawers. As well as being a director of BP, the silken, Blairish former MI6 boss is a member of Bilderbergs steering committee, and the chairman of Macro Advisory Partners, a global advisory group with heavy links to the transatlantic intelligence community, very much in the style of Kissinger Associates. And speak of the devil! The ageless 93-year-old former US secretary of state will be holding court at Dresden, croaking out his wisdom from the throne of bones he has shipped everywhere he goes.

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