As of Feb. 6, we're $7,500 in the red for the month. Donate here to support this vital work.
Subscribe here to our free email list

Corporate Corruption News Stories
Excerpts of Key Corporate Corruption News Stories in Major Media


Below are highly revealing excerpts of important corporate corruption news stories reported in the media that suggest a major cover-up. Links are provided to the full stories on their major media websites. If any link fails to function, read this webpage. These corporate corruption news stories are listed by date posted to this webpage. You can explore the same articles listed by order of importance or by article date. By choosing to educate ourselves on these important issues and to spread the word, we can and will build a brighter future.


Note: This comprehensive list of corporate corruption 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.


The 'carbon pirates' preying on Amazon's Indigenous communities
2023-01-21, The Guardian (One of the UK's Leading Newspapers)
Posted: 2023-02-06 12:28:38
https://www.theguardian.com/environment/2023/jan/21/amazon-indigenous-communi...

A number of Indigenous communities in the Amazon say that "carbon pirates" have become a threat to their way of life as western companies seek to secure deals in their territories for offsetting projects. Across the world's largest rainforest, Indigenous leaders say they are being approached by carbon offsetting firms promising significant financial benefits from the sale of carbon credits if they establish new projects on their lands, as the $2bn (Ł1.6bn) market booms with net zero commitments from companies in Europe and North America. Proponents of carbon markets, especially those that aim to protect rainforests, say that carbon credits are a good way to fund the new areas and pay Indigenous communities for the stewardship of their lands. The resulting credits could then be used for climate commitments by western companies. Indigenous communities are being taken advantage of in the unregulated sector, with opaque deals for carbon rights that can last up to a century, lengthy contracts written in English, and communities being pushed out of their lands for projects. Examples include Peru's largest ever carbon deal involving an unnamed extractive firm, where the Kichwa community claim they have been forced from their land in Cordillera Azul national park and received nothing from the $87m agreement. Several Indigenous communities spoke of training themselves in carbon market regulation and organising global exchanges to help others avoid falling victim to "carbon pirates".

Note: An excellent investigation reveals that over 90% of rainforest offsets are likely to be "phantom credits" and do not represent real carbon reductions, yet are being used by Disney, Shell, Gucci, Salesforce, the band Pearl Jam, and other large corporations. For more along these lines, see concise summaries of deeply revealing news articles on climate change from reliable major media sources.


$5.4 billion in covid aid may have gone to firms using suspect Social Security numbers
2023-01-30, Washington Post
Posted: 2023-02-06 12:26:28
https://www.washingtonpost.com/business/2023/01/30/ppp-covid-fraud-social-sec...

The U.S. government may have awarded roughly $5.4 billion in coronavirus aid to small businesses with potentially ineligible Social Security numbers, offering the latest indication that Washington's haste earlier in the pandemic opened the door for widespread waste, fraud and abuse. The top watchdog overseeing stimulus spending – called the Pandemic Response Accountability Committee, or PRAC – offered the estimate in an alert issued Monday and shared early with The Washington Post. It came as House Republicans prepared to hold their first hearing this week to study the roughly $5 trillion in federal stimulus aid approved since spring 2020. The suspected wave of grift targeted two of the government's most generous emergency initiatives: the Paycheck Protection Program, known as PPP, and the Economic Injury Disaster Loan, dubbed EIDL. Studying more than 33 million applicants, the PRAC uncovered more than 221,000 ineligible Social Security numbers on requests for small-business aid. That included thousands of cases where the number was "not issued" by the government, for example, or it did not match the correct name and birth information. More than a quarter of those applications, using nearly 70,000 suspect Social Security numbers, were still approved between April 2020 and October 2022 despite the questionable data – and the government loaned those applicants about $5.4 billion, the watchdog found. The full extent of taxpayers' losses remains unknown, even to Washington.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and the coronavirus from reliable major media sources.


Crypto Firm FTX's Ownership of a U.S. Bank Raises Questions
2022-11-23, New York Times
Posted: 2023-01-29 21:00:06
https://www.nytimes.com/2022/11/23/business/ftx-cryptocurrency-bank.html

Among the many surprising assets uncovered in the bankruptcy of the cryptocurrency exchange FTX is a relatively tiny one that could raise big concerns: a stake in one of the country's smallest banks. The bank, Farmington State Bank in Washington State, has a single branch and, until this year, just three employees. It did not offer online banking or even a credit card. The tiny bank's connection to the collapse of FTX is raising new questions about the exchange and its operations. The ties between FTX and Farmington State Bank began in March when Alameda Research, a small trading firm and sister to FTX, invested $11.5 million in the bank's parent company, FBH. At the time, Farmington was the nation's 26th-smallest bank out of 4,800. Its net worth was $5.7 million. FTX is a now bankrupt company that was one of the world's largest cryptocurrency exchanges. A judge allowed the law firm Sullivan & Cromwell to continue advising FTX on bankruptcy. It's unclear how FTX was allowed to buy a stake in a U.S.-licensed bank, which would need to be approved by federal regulators. Banking veterans say it's hard to believe that regulators would have knowingly allowed FTX to gain control of a U.S. bank. "The fact that an offshore hedge fund that was basically a crypto firm was buying a stake in a tiny bank for multiples of its stated book value should have raised massive red flags for the F.D.I.C., state regulators and the Federal Reserve," said Camden Fine, a bank industry consultant.

Note: An in-depth investigation by Whitney Webb and Ed Berger further unearths the mysterious connections between FTX and Farmington State Bank. Extending far beyond Sam Bankman-Fried and FTX, they make a case for a deeper criminal network at play, with troubling connections to this bank. Incidentally, the firm Sullivan & Cromwell has old connections with the CIA. For more along these lines, see concise summaries of deeply revealing news articles on financial industry corruption from reliable major media sources.


Sam Bankman-Fried's Lawyers ​Are Veterans of Ghislaine Maxwell and 'El Chapo' Cases
2023-01-09, Wall Street Journal
Posted: 2023-01-29 20:58:34
https://www.wsj.com/articles/sam-bankman-frieds-defense-team-led-by-battle-te...

A pair of attorneys defending FTX founder Sam Bankman-Fried against one of the biggest white-collar prosecutions in decades are veterans of high-profile cases, including ones involving drug lord "El Chapo" and disgraced socialite Ghislaine Maxwell. Mark Cohen and Christian Everdell, former federal prosecutors who are now partners in the New York-based boutique firm Cohen & Gresser ... are up against hard-charging Justice Department lawyers who moved quickly to indict Mr. Bankman-Fried after FTX's collapse and secured two of his former top lieutenants as cooperating witnesses. The Manhattan U.S. attorney's office this past month charged Mr. Bankman-Fried with stealing billions of dollars from FTX customers while misleading investors and lenders connected to his crypto-trading firm Alameda Research. He faces charges of fraud, conspiracy, money laundering and campaign-finance violations and pleaded not guilty last week. Messrs. Cohen, 59 years old, and Everdell, 48, have already navigated their client through a thorny extradition from the Bahamas, where Mr. Bankman-Fried had been jailed after the Justice Department requested that local police arrest him. The two lawyers worked with local counsel to secure his transfer to U.S. custody while negotiating with federal prosecutors his pretrial release under a $250 million bond. They are now tasked with combing through voluminous and technical discovery, including documents relating to FTX investors, debtors and political campaigns.

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


History of DDT ocean dumping off L.A. coast even worse than expected, EPA finds
2022-08-04, Los Angeles Times
Posted: 2023-01-29 20:56:19
https://www.latimes.com/environment/story/2022-08-04/ddt-ocean-dumping-in-l-a...

After an exhaustive historical investigation into the barrels of DDT waste reportedly dumped decades ago near Catalina Island, federal regulators concluded that the toxic pollution in the deep ocean could be far worse ... than what scientists anticipated. In internal memos made public recently, officials from the U.S. Environmental Protection Agency determined that acid waste from the nation's largest manufacturer of DDT – a pesticide so powerful it poisoned birds and fish – had not been contained in hundreds of thousands of sealed barrels. Most of the waste, according to newly unearthed information, had been poured directly into the ocean from massive tank barges. Other chemicals – as well as millions of tons of oil drilling waste – had also been dumped decades ago in more than a dozen areas off the Southern California coast. "That's pretty jaw-dropping in terms of the volumes and quantities of various contaminants that were dispersed in the ocean," said John Chesnutt ... who has been leading the EPA's technical team on the investigation. "This also begs the question: So what's in the barrels? There's still so much we don't know." These revelations build on much-needed research into DDT's toxic – and insidious – legacy in California. As many as half a million barrels of DDT waste have not been accounted for in the deep ocean. Women face greater risk of obesity, earlier menstruation and possibly breast cancer if their grandmothers were exposed to DDT during pregnancy, researchers say.

Note: Back in 2020, LA Times wrote an excellent investigative piece on the history and background of this unsettling issue. Consider watching a brief and shocking video of how the US government made the public believe DDT was so safe you could eat it and spray it on children. For more along these lines, see concise summaries of deeply revealing news articles on health from reliable major media sources.


The country where 30 farmers die each day
2022-03-17, CNN News
Posted: 2023-01-29 20:54:28
https://www.cnn.com/2022/03/17/opinions/india-farmer-suicide-agriculture-refo...

The situation for India's more than 260 million agricultural workers is dire. Nearly 30 people in the farming sector die by suicide daily, according to the most recent figures available, typically due to overwhelming debt. Indeed in 2020, more than 10,000 people in the agricultural sector ended their own lives, according to government data. India's economic backbone – its farmers and their families – is in collapse. They face crushing pressures: insurmountable debt, environmental degradation, and extreme rates of cancer linked to exposure to pesticides. This strain is compounded by climate change and extreme weather – from ground water depletion to water shortages and crop damage due to rising temperatures – effects which have been tied to increasing suicides in India. Many are subsistence farmers who are drowning in the volatility caused by the Green Revolution which began in the 1960s as a way of industrializing the agriculture sector with high yielding seeds, mechanized tools and pesticides. In some cases, farmers cannot work their land due to illness linked to the revolution's pesticides and fertilizers. They are dealing with deep-rooted battles against multinational corporations. And all the while having to take out loans each year to make the agricultural cycle possible. And then, when farmers are unable to get loans from legitimate banks, illegal moneylenders ... step in, charging exorbitant interest rates and creating an inescapable debt-trap for farmers, in some instances pushing them to suicide.

Note: Watch a compelling talk by food sovereignty advocate Vandana Shiva, who explains how the "Green Revolution" doesn't bring any gain in food security, and has done more harm than good in India. For more along these lines, see concise summaries of deeply revealing news articles on food system corruption from reliable major media sources.


COVID-19 Drugmakers Pressured Twitter to Censor Activists Pushing for Generic Vaccine
2023-01-16, The Intercept
Posted: 2023-01-29 20:49:49
https://theintercept.com/2023/01/16/twitter-covid-vaccine-pharma/

Vaccine-makers sought to shape content moderation actions at Twitter. Stronger, a campaign run by Public Good Projects, a public health nonprofit specializing in large-scale media monitoring programs, regularly communicated with Twitter on regulating content related to the pandemic. The firm worked closely with the San Francisco social media giant to help develop bots to censor vaccine misinformation and, at times, sent direct requests to Twitter with lists of accounts to censor and verify. Internal Twitter emails show regular correspondence between an account manager at Public Good Projects, and various Twitter officials, including Todd O'Boyle, lobbyist with the company who served as a point of contact with the Biden administration. The content moderation requests were sent throughout 2021 and early 2022. The entire campaign ... was entirely funded by the Biotechnology Innovation Organization, a vaccine industry lobbying group. BIO, which is financed by companies such as Moderna and Pfizer, provided Stronger with $1,275,000 in funding for the effort, which included tools for the public to flag content on Twitter, Instagram, and Facebook for moderation. Many of the tweets flagged by Stronger contained absolute falsehoods. But others hinged on a gray area of vaccine policy through which there is reasonable debate, such as requests to label or take down content critical of vaccine passports and government mandates to require vaccination.

Note: For more along these lines, see concise summaries of deeply revealing news articles on coronavirus vaccines and media manipulation from reliable sources.


The US should break up monopolies – not punish working Americans for rising prices
2023-01-08, The Guardian (One of the UK's Leading Newspapers)
Posted: 2023-01-22 22:53:01
https://www.theguardian.com/commentisfree/2023/jan/08/us-monopolies-inflation...

Job growth and wages are slowing. This is music to the ears of Federal Reserve chair Jerome Powell, because the Fed blames inflation on rising wages. The Fed has been increasing interest rates to slow the economy and thereby reduce the bargaining power of workers to get wage gains. But aren't higher wages a good thing? The typical American worker's wage has been stuck in the mud for four decades. Most of the gains from a more productive economy have been going to the top – to executives and investors. The richest 10% of Americans now own more than 90% of the value of shares of stock owned by Americans. Powell's solution to inflation is to clobber workers even further. But if the demand for workers exceeds the supply, isn't the answer to pay workers more? Not according to Powell and the Fed. Their answer is to continue to raise interest rates to slow the economy and put more people out of work, so workers can't get higher wages. The Fed projects that as it continues to increase interest rates, unemployment will rise to 4.6% by the end of 2023 – resulting in more than 1m job losses. The problem isn't that wages are rising. The real problem is that corporations have the power to pass those wage increases – along with record profit margins – on to consumers in the form of higher prices. If corporations had to compete vigorously for consumers, they wouldn't be able to do this. Competitors would charge lower prices and grab those consumers away.

Note: The above was written by former US Secretary of Labor Robert Reich. For more along these lines, see concise summaries of deeply revealing news articles on government corruption and income inequality from reliable major media sources.


The world's biggest PR firm claims to be an expert on trust – but is it?
2023-01-15, The Guardian (One of the UK's Leading Newspapers)
Posted: 2023-01-22 22:50:55
https://www.theguardian.com/business/2023/jan/15/edelman-pr-firm-davos-trust

At the World Economic Forum in Davos, Switzerland this week, the public relations juggernaut Edelman will publish the latest edition of its "trust barometer", an annual survey that purports to measure whether people around the world trust businesses, governments, NGOs and the media. There's just one problem: even as Edelman promotes its brand and pursues clients with stern warnings about the importance of trust, critics charge the company appears reluctant to follow its own advice. The firm's clients have ranged from ExxonMobil to the Saudi government and members of the Sackler family, the former owners of the opioid manufacturer Purdue Pharma. Successful PR firms do more than simply promote and spin – they actually infuse the public discourse with their clients' perspectives. "These companies are trying not just to manage trust, but to make trust," [media studies professor Melissa] Aronczyk said. "And if they themselves are the owners of that survey, or barometer, or whatever it is, then, of course, they become the proprietors of that kind of value." Edelman's most effective case study might be the firm itself. It has managed to cultivate a reputation for trust even as its business model appears regularly to contradict its advice and its CEO's admonitions. Over the past four years Edelman has signed about $9.6m worth of deals with the government of Saudi Arabia and companies controlled by the regime, while simultaneously urging businesses to stand up for human rights.

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


Facebook Wanted Out of Politics. It Was Messier Than Anyone Expected.
2023-01-05, Wall Street Journal
Posted: 2023-01-16 12:57:49
https://www.wsj.com/articles/facebook-politics-controls-zuckerberg-meta-11672...

A Journal article in 2021 cited internal [Facebook] research showing that steps to promote engagement had favored inflammatory material, with publishers and political parties reorienting their posts toward outrage and sensationalism. After the Jan. 6 Capitol riot, Facebook parent Meta Platforms Inc. said it wanted to scale back how much political content it showed users. [Chief Executive Mark] Zuckerberg and [Meta's] board chose the most drastic, instructing the company to demote posts on "sensitive" topics as much as possible ... an initiative that hasn't previously been reported. Depending on the mix of suppression features deployed, projected Facebook traffic to Fox News, MSNBC, the New York Times, Newsmax, the Atlantic and The Wall Street Journal would initially fall by as much as 40% to 60% beyond the already enacted reductions. Suppressing civic content didn't appear likely to convince users that Facebook wasn't politically toxic. According to internal research, the percentage of users who said they thought Facebook had a negative effect on politics didn't budge with the changes, staying consistently around 60% in the U.S. Ravi Iyer, a former Meta data-science manager ... said there should be more focus on the way platforms allow certain content to go viral, rather than subjective decisions about what to leave up or take down. “Having employees judge good vs. bad speech often creates more problems than it solves,” he said. “Our goal should be fewer judgment calls.”

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and media manipulation from reliable sources.


Tensions with Virgin Islands governor over Epstein led to attorney general's firing
2023-01-06, New York Times
Posted: 2023-01-16 12:48:59
https://www.nytimes.com/2023/01/06/business/virgin-islands-epstein-attorney-g...

The former attorney general for the Virgin Islands, who recently secured a $105 million settlement from the estate of Jeffrey Epstein, was recently fired following months of friction between her and the U.S. territory's governor over the handling of the investigation into the disgraced financier, according to people briefed on the matter. Denise N. George, the former official, was dismissed by Albert Bryan Jr., the governor of the Virgin Islands, on New Year's Eve, four days after her office sued JPMorgan Chase in federal court in Manhattan for its dealings with Mr. Epstein, who died of an apparent suicide in 2019 while in federal custody. The timing of Ms. George's firing fueled media speculation in the Virgin Islands and beyond that the suit against JPMorgan was the immediate cause. In late December, Ms. George's office sued JPMorgan in federal court in Manhattan, claiming that bank was derelict in providing banking services to Mr. Epstein during the time he was charged with sexually abusing teenage girls and young women at Little St. James and elsewhere in the U.S. The lawsuit accused JPMorgan of facilitating and concealing wire and cash transactions that should have raised suspicions that Mr. Epstein was engaging in the sexual trafficking of teen girls and young women. The lawsuit contends the bank essentially turned a "blind eye" to Mr. Epstein's conduct because it was profitable. JPMorgan, the largest U.S. bank by assets, was Mr. Epstein's primary banker from the late 1990s to 2013.

Note: For more along these lines, see concise summaries of deeply revealing news articles on banking corruption and Jeffrey Epstein's sex trafficking ring from reliable major media sources.


Epstein's sex trafficking was aided by JPMorgan, a U.S. Virgin Islands lawsuit says
2022-12-30, NPR
Posted: 2023-01-09 14:31:37
https://www.npr.org/2022/12/30/1146221454/epstein-jpmorgan-virgin-islands-law...

The government of the U.S. Virgin Islands alleges in a lawsuit filed this week that JPMorgan Chase "turned a blind eye" to evidence that disgraced financier Jeffrey Epstein used the bank to facilitate sex-trafficking activities on Little St. James, the private island he owned in the territory until his 2019 suicide. In a more than 100-page complaint filed by U.S.V.I. Attorney General Denise George in the Southern District of New York in Manhattan on Tuesday, the territory alleges that JPMorgan failed to report Epstein's suspicious activities and provided the financier with services reserved for high-wealth clients after his 2008 conviction for soliciting a minor for prostitution in Palm Beach, Fla. The complaint says the territory's Department of Justice investigation "revealed that JP Morgan knowingly, negligently, and unlawfully provided and pulled the levers through which recruiters and victims were paid and was indispensable to the operation and concealment of the Epstein trafficking enterprise." It accused the bank of ignoring evidence for "more than a decade because of Epstein's own financial footprint, and because of the deals and clients that Epstein brought and promised to bring to the bank." "These decisions were advocated and approved at the senior levels of JP Morgan," it said. The bank allegedly "facilitated and concealed wire and cash transactions that raised suspicion of – and were in fact part of – a criminal enterprise whose currency was the sexual servitude of dozens of women and girls," according to the complaint.

Note: Just days after filing the lawsuit against JP Morgan Chase, the district attorney of US Virgin Islands was fired. For more along these lines, see concise summaries of deeply revealing news articles on Jeffrey Epstein's sex trafficking ring from reliable major media sources.


Elon Musk, Matt Taibbi, and a Very Modern Media Maelstrom
2022-12-04, New York Times
Posted: 2023-01-09 14:24:03
https://www.nytimes.com/2022/12/04/business/media/elon-musk-twitter-matt-taib...

The so-called Twitter Files, released ... by the independent journalist Matt Taibbi, set off a firestorm among pundits, media ethicists and lawmakers in both parties. It also offered a window into the fractured modern landscape of news, where a story's reception is often shaped by readers' assumptions about the motivations of both reporters and subjects. Mr. Musk teased the release of internal documents that he said would reveal the story behind Twitter's 2020 decision to restrict posts linking to a report in the New York Post about Joseph R. Biden Jr.'s son, Hunter. Mr. Musk, who has accused tech companies of censorship ... pointed readers to the account of Mr. Taibbi, an iconoclast journalist. Published in the form of a lengthy Twitter thread, Mr. Taibbi’s report included images of email exchanges among Twitter officials deliberating how to handle dissemination of the Post story on their platform. Skeptics of Mr. Taibbi seized on what appeared to be an orchestrated disclosure. “Imagine volunteering to do online PR work for the world’s richest man on a Friday night, in service of nakedly and cynically right-wing narratives, and then pretending you’re speaking truth to power,” the MSNBC host Mehdi Hasan wrote in a Twitter post. Mr. Taibbi clapped back on Saturday, writing: “Looking forward to going through all the tweets complaining about ‘PR for the richest man on earth,’ and seeing how many of them have run stories for anonymous sources at the FBI, CIA, the Pentagon, White House, etc.”

Note: Matt Taibbi is one of the few journalists who reports it as he sees it and is willing to look far beneath the surface. We subscribe to his excellent reports as one very useful source of unraveling the jumble of news that comes our way. For more along these lines, see concise summaries of deeply revealing news articles on media manipulation from reliable sources.


Twitter Is Said to Have Struggled Over Revealing U.S. Influence Campaign
2022-12-22, New York Times
Posted: 2023-01-09 14:21:30
https://www.nytimes.com/2022/12/22/technology/twitter-military-influence-camp...

In response to a 2017 request from the Pentagon, Twitter kept online a network of accounts that the U.S. military used to advance its interests in the Middle East, according to internal company emails that were made public on Tuesday by The Intercept, a nonprofit publication. A counterterrorism division at Twitter knew about the arrangement, but others did not, five people with knowledge of the matter said. The situation was unusual because Twitter normally removes and publicly discloses influence campaigns conducted by governments. The internal documents published by The Intercept were provided by Twitter under its new owner, Elon Musk. Mr. Musk has made an archive of documents available to select journalists to scrutinize the decisions of the company's previous leaders. The situation began in 2017 when an official working with U.S. Central Command requested that Twitter verify some of the military's accounts. The accounts had been flagged by a Twitter system used to automatically detect terrorist content and were not easy to find in searches. The Pentagon asked Twitter to "whitelist" the accounts, which would prevent the automatic tools from flagging them and make them more broadly visible on the platform. Twitter's counterterrorism team complied. While the company regularly disclosed other state-backed influence campaigns in transparency reports, executives ... feared they could violate national security laws by speaking publicly about the takedown of the campaign.

Note: For more along these lines, see concise summaries of deeply revealing news articles on military corruption and media manipulation from reliable sources.


Wells Fargo ordered to pay $3.7 billion for 'illegal activity' including unjust foreclosures and vehicle repossessions
2022-12-20, CNN News
Posted: 2023-01-03 00:46:14
https://www.cnn.com/2022/12/20/investing/wells-fargo-cfpb-foreclosure-fine/in...

Federal regulators fined Wells Fargo a record $1.7 billion on Tuesday for "widespread mismanagement" over multiple years that harmed over 16 million consumer accounts. Wells Fargo's "illegal activity" included repeatedly misapplying loan payments, wrongfully foreclosing on homes, illegally repossessing vehicles, incorrectly assessing fees and interest and charging surprise overdraft fees. The CFPB ordered Wells Fargo to pay the $1.7 billion civil penalty in addition to more than $2 billion to compensate consumers for a range of "illegal activity." CFPB officials say this is the largest penalty imposed by the agency. The misconduct described by the CFPB echoes previously reported revelations that have emerged about Wells Fargo since 2016 when the bank's fake-accounts scandal created a national firestorm. "Wells Fargo's rinse-repeat cycle of violating the law has harmed millions of American families," Rohit Chopra, the CFPB's director, said in a statement. Chopra noted that the settlement does not provide immunity for individuals at Wells Fargo, and the agency recognizes the $3.7 billion in fines and restitution will not fix the bank's problems. Although Chopra credited Wells Fargo with making some progress, he said it's not clear "they are making rapid enough progress" and said the agency is concerned that the bank's product launches, growth initiatives and profit-boosting efforts have "delayed needed reform."

Note: In 2016, Wells Fargo was caught opening millions of fake accounts in its customers' names. For more along these lines, see concise summaries of deeply revealing news articles on financial system corruption from reliable major media sources.


Why the government fails to limit many dangerous chemicals in the workplace
2022-12-15, NPR
Posted: 2023-01-03 00:43:20
https://www.npr.org/sections/health-shots/2022/12/15/1142915184/ortho-toluidi...

The permissible exposure limit for ortho-toluidine is 5 parts per million in air, a threshold based on research conducted in the 1940s and '50s without any consideration of the chemical's ability to cause cancer. Despite ample evidence that far lower levels can dramatically increase a person's cancer risk, the legal limit has remained the same. Paralyzed by industry lawsuits from decades ago, the Occupational Safety and Health Administration has all but given up on trying to set a truly protective threshold for ortho-toluidine and thousands of other chemicals. The agency has only updated standards for three chemicals in the past 25 years; each took more than a decade to complete. David Michaels, OSHA's director throughout the Obama administration, [said] that legal challenges had so tied his hands that he decided to put a disclaimer on the agency's website saying the government's limits were essentially useless: "OSHA recognizes that many of its permissible exposure limits (PELs) are outdated and inadequate for ensuring protection of worker health." The agency has also allowed chemical manufacturers to create their own safety data sheets, which are supposed to provide workers with the exposure limits and other critical information. OSHA does not require the sheets to be accurate or routinely fact-check them. As a result, many fail to mention the risk of cancer and other serious health hazards. Almost one-third of more than 650 sheets for dangerous chemicals contain inaccurate warnings.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the corporate world from reliable major media sources.


Congress and Industry Leaders Call for Crackdown on Hospice Fraud
2022-12-19, MSN News
Posted: 2023-01-03 00:41:47
https://www.msn.com/en-us/news/us/congress-and-industry-leaders-call-for-crac...

After ProPublica and the New Yorker published an exposé of hospice fraud, members of Congress have called on the Department of Health and Human Services to "immediately investigate this situation." The ... investigation described how the lucrative design of the Medicare benefit incentivizes many profit-seeking hospices to cut corners on care and target patients who are not actually dying. It chronicled the lack of regulation and the frustrated efforts of whistleblowers to hold end-of-life care conglomerates accountable. And it drew on state and federal data to reveal how, in the absence of oversight, the number of for-profit hospice providers in California, Texas, Arizona and Nevada has lately exploded. Hospice began more than 60 years ago as a countercultural charity movement to help patients die with comfort, support and as little pain as possible. After the 1980s, when President Ronald Reagan authorized Medicare to cover the service, dying became a big business. In 2000, less than a third of all hospices were for-profit. Today, more than 70% are. Between 2011 and 2019, the number of hospices owned by private equity firms tripled. For profit-seeking providers, hospice is lucrative: Medicare pays a fixed rate per patient a day, regardless of how much help is offered. The aggregate Medicare margins of for-profit providers hover around 20% compared with just 5% for nonprofits. For-profit hospices are more likely than their nonprofit counterparts to have less skilled staff ... and fewer home visits.

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


In the Southeast, power company money flows to news sites that attack their critics
2022-12-19, NPR
Posted: 2023-01-03 00:39:55
https://www.npr.org/2022/12/19/1143753129/power-companies-florida-alabama-med...

Six news outlets across Alabama and Florida [have] financial connections to the consulting firm Matrix LLC. The firm, based in Montgomery, Alabama, has boasted clients including Alabama Power and another major U.S. utility, Florida Power & Light. Last year, Florida Power & Light wrote a bill that was passed by the Florida Legislature and that would have gutted the ability of homeowners to make money off solar panels. One state away, Alabama Power runs and owns a coal-fired power plant that is the largest single source of carbon dioxide emissions in the United States. In Alabama and Florida, Matrix sought to ensure much coverage was secretly driven by the priorities of its clients. Payments flowed as the utilities in Florida and Alabama fought efforts to incorporate more clean energy in electric grids – a fight they are still waging. [Floodlight and NPR investigations reveal] a complex web of financial links, in which the six outlets collectively received, at minimum, $900,000 from Matrix, its clients, and associated entities between 2013 and 2020. Matrix shrewdly took advantage of the near collapse of the local newspaper industry and a concurrent plunge in trust in media in propelling its clients' interests. Matrix founder Joe Perkins has long held an interest in the power of the media. As a doctoral student at the University of Alabama, he wrote his thesis about a specific quandary: How can journalists' choice of sources and anecdotes affect public sentiment?

Note: For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and media manipulation from reliable sources.


The Scorched-Earth Legal Strategy Corporations Are Using to Silence Their Critics
2022-12-16, The Intercept
Posted: 2023-01-03 00:38:23
https://theintercept.com/2022/12/16/corporate-rico-environmental-advocate/

Weeks before he was murdered, Victor Hugo Orcasita presented his wife with a letter describing his last wishes. Orcasita, a union leader, had been pushing for better conditions at his workplace, a mine in northern Colombia owned by a subsidiary of the Alabama-based coal company Drummond. Then the death threats started coming in. The miners’ union was convinced that Drummond was involved in the murders. To make the case that the company was complicit in the killings, the union turned to Terry Collingsworth, a lifelong human rights attorney. In March 2015, the case took a surprising turn. Drummond had returned fire in the legal fight with an unusual accusation. The company charged that Collingsworth – an advocate who recently brought a case before the U.S. Supreme Court – had led a "multifaceted criminal campaign" to extort Drummond into paying a costly settlement. This campaign, Drummond alleged, was in fact a racketeering conspiracy as defined by the Racketeer Influenced and Corrupt Organizations Act, better known as RICO. Drummond's charges represent a scorched-earth legal strategy in which corporations are turning the tables on attorneys and advocates who accuse them of wrongdoing. By shifting the spotlight to these attorneys’ conduct, corporations effectively sidestepped the original allegations against them. The true purpose ... is to send attorneys and activists a message: Going toe-to-toe with heavyweight corporations can lead to personal ruin.

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


US health agency accused of bowing to drug industry with new opioid guidance
2022-12-17, The Guardian (One of the UK's Leading Newspapers)
Posted: 2022-12-26 20:55:10
https://www.theguardian.com/us-news/2022/dec/17/cdc-accused-opioid-guidelines...

The Centers for Disease Control and Prevention (CDC) has been accused of bowing to drug industry pressure after releasing new guidelines that doctors say put lives at risk by rowing back on warnings about the dangers of opioid prescribing. The latest CDC guidelines have caused controversy after dropping specific limits on dosages and lengths of prescribing from a key summary of recommendations used by physicians. Dr Andrew Kolodny, president of Physicians for Responsible Opioid Prescribing, sees the drug industry's hand behind the change. Kolodny has testified against opioid makers in legal actions over their part in driving the opioid epidemic by pushing sales with false claims about their safety and effectiveness. They include Purdue Pharma, manufacturer of OxyContin, a powerful narcotic pill that kickstarted the US's opioid epidemic alongside the company's marketing strategy to see the drugs widely prescribed. Kolody said ... that the drug industry calculated how much the 2016 CDC guidelines would cost it if doctors followed the recommendations to limit prescribing of high dosage pills. "The highest dosage products have had the highest profit margin. It only costs a few extra pennies to make the higher dosage pill, but retail it's almost double what they get per pill or prescription. So the industry fought very hard to block the release of the 2016 guideline and when that failed they did everything they could to make the guidelines appear controversial. And that worked," he said.

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


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.