News StoriesExcerpts of Key News Stories in Major Media
Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
Increased levels of prenatal fluoride exposure may be associated with lower cognitive function in children, a new study says. The study, published ... in the journal Environmental Health Perspectives, evaluated nearly 300 sets of mothers and children in Mexico and tested the children twice for cognitive development over the course of 12 years. The study found a drop in scores on intelligence tests for every 0.5 milligram-per-liter increase in fluoride exposure beyond 0.8 milligrams per liter found in urine. Although the researchers found a potential connection to a child's exposure to fluoride in utero, they found no significant influence from fluoride exposure on brain development once a child was born. "Childhood exposure to fluoride is safer than prenatal. The fetal system tends to be more sensitive to environmental toxicants than once the child is born," said the study's lead author, Howard Hu, founding dean of the Dalla Lana School of Public Health at the University of Toronto. Fluoride is commonly added to drinking water in the United States in order to improve dental health, though a number of communities including Portland, Oregon, and Tucson, Arizona, have rejected water fluoridation. What the new research means for pregnant women in the United States is up in the air. Previous studies have found fluoride to be a potential neurotoxin at extremely high levels.
Note: This Newsweek article and this MSNBC article also raise serious questions about the benefits and risks of fluoride in our water. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.
Adding fluoride to public drinking water for dental purposes has been controversial since the practice first began in 1945. A new study suggests that prenatal exposure to this chemical may affect cognitive abilities and that children born to mothers exposed to high amounts of fluoride could have lower IQs. The study ... found an association between lower intelligence and prenatal fluoride exposure in 299 mother-child pairs in Mexico. Even when other possible factors were taken into account, such as exposure to other chemicals, results continually showed that higher prenatal fluoride exposure was linked to lower scores on tests of cognitive function in children at age 4 and then again between 6 and 12. The mothers in this study did not have fluoride added to their water. In Mexico, fluoridated salt is the main way that women get salt into their diet, says Hu, unlike in the U.S., where fluoridated water is the main avenue. The data could renew the debate about the safety of adding fluoride to tap water, in part because experts have not been quick to dismiss the findings. "This is a very well-conducted study, and it raises serious concerns about fluoride supplementation in water," says Dr. Leonardo Trasande, a pediatrician who studies potential links between environmental exposures and health problems at New York University. Trasande ... also explains that fluoride is known to disrupt thyroid function, which in turn is crucial for brain development.
Note: Another Newsweek article and this MSNBC article also raise serious questions about the benefits and risks of fluoride in our water. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.
In a democracy, no one should be comforted to hear that generals have imposed discipline on an elected head of state. That was never supposed to happen in the United States. Now it has. Ultimate power to shape American foreign and security policy has fallen into the hands of three military men: General James Mattis, the secretary of defense; General John Kelly, President Trump’s chief of staff; and General H.R. McMaster, the national security adviser. They do not put on their ribbons to review military parades or dispatch death squads to kill opponents, as members of old-style juntas did. Yet their emergence reflects a new stage in the erosion of our political norms and the militarization of our foreign policy. Already they have exerted a stabilizing influence. Mattis refuses to join the rush to bomb North Korea, Kelly has imposed a measure of order on the White House staff, and McMaster pointedly distanced himself from Trump’s praise for white nationalists after the violence in Charlottesville. Being ruled by generals seems preferable to the alternative. It isn’t. Trump has made clear that when he must make foreign policy choices, he will defer to “my generals.” Military commanders are trained to fight wars, not to decide whether fighting makes strategic sense. That is properly the job of diplomats. Many Americans ... are so disgusted by the corruption and shortsightedness of our political class that they turn to soldiers as an alternative. It is a dangerous temptation.
Note: Check out this excellent article which shows how Trump, like Obama and his other predecessors, has been co-opted to support the hugely profitable war machine. According to this recent New York Times article, John Kelly now directly controls what news President Trump is and is not allowed to see. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the military.
An Oregon parent wanted details about school employees getting paid to stay home. College journalists in Kentucky requested documents about the investigations of employees accused of sexual misconduct. Instead, they got something else: sued by the agencies they had asked for public records. Government bodies are increasingly turning the tables on citizens who seek public records that might be embarrassing or legally sensitive. Instead of granting or denying their requests, a growing number of school districts, municipalities and state agencies have filed lawsuits against people making the requests - taxpayers, government watchdogs and journalists who must then pursue the records in court at their own expense. The lawsuits generally ask judges to rule that the records being sought do not have to be divulged, [and] name the requesters as defendants. The recent trend has alarmed freedom-of-information advocates, who say it's becoming a new way for governments to hide information, delay disclosure and intimidate critics. At least two recent cases have succeeded in blocking information while many others have only delayed the release. Even if agencies are ultimately required to make the records public, they typically will not have to pay the other side's legal bills. "You can lose even when you win," said Mike Deshotels, an education watchdog who was sued by the Louisiana Department of Education after filing requests for school district enrollment data last year.
Employees at the Environmental Protection Agency are attending mandatory training sessions this week to reinforce their compliance with laws and rules against leaking classified or sensitive government information. It is part of a broader Trump administration order for anti-leaks training at all executive branch agencies. The Associated Press obtained training materials from the hourlong class. Government employees who hold security clearances undergo background checks and extensive training in safeguarding classified information. Relatively few EPA employees deal with classified files, but the new training also reinforces requirements to keep "Controlled Unclassified Information" from unauthorized disclosure. President Donald Trump has expressed anger repeated leaks of potentially embarrassing information to media organizations. In a speech last month, Attorney General Jeff Sessions said those responsible for the "staggering number of leaks" coming out of the administration would be investigated and potentially prosecuted. "We share the White House's concern with the unlawful leaks throughout the government," Justice Department spokesman Ian Prior said. A three-page fact sheet sent to EPA employees as part of the training warned that leaks of even unclassified information could have serious consequences to national security.
Note: For more along these lines, see concise summaries of deeply revealing government corruption news articles from reliable major media sources.
It was just four years ago that roughly two dozen representatives of major news organizations crowded around a conference table at the Justice Department for a meeting with Attorney General Eric H. Holder Jr. Our agenda? Strengthening the Justice Department’s guidelines that limit when federal prosecutors can serve subpoenas on the news media. It had just been revealed that federal investigators had secretly seized the phone records of The Associated Press and the emails of a Fox News correspondent during leak investigations. The result was important: The Justice Department revised its internal guidelines to make it harder for prosecutors to obtain subpoenas for reporters’ testimony and records. Attorney General Jeff Sessions, after being chided by President Trump for being weak, recently declared a war on leakers and made clear that the news media was also on his mind. It seems all but certain that the Justice Department will try to chip away at the subpoena guidelines, [which] say that prosecutors are to seek testimony and evidence from journalists only as a last resort, and that news organizations should have a chance to go to court to challenge any subpoenas. The guidelines are far from ironclad. If a prosecutor were to ignore them, a journalist would have no right to go into court and demand they be followed. When federal courts dial back protection for reporters, the guidelines become an essential first line of defense against overzealous prosecutors.
John N. Tye wants to make it easier to expose government wrongdoing without getting fired or breaking the law. Tye, a former State Department whistleblower, and lawyer Mark S. Zaid have formed Whistleblower Aid, a nonprofit law office to help would-be tipsters in government and the military navigate the bureaucratic and legal morass involved in reporting governmental misdeeds. Whistleblowing can be a challenge for people who have taken an oath of office to support and defend the Constitution ... Tye said in a telephone interview. “Then you get into government and you see something wrong,” he said. “You’ve sworn to stop it, but there aren’t a lot of tools at your disposal, especially if it’s your supervisor who’s breaking the law. People are scared. They’re worried about their jobs. If it involves classified information, they can be criminally prosecuted.” Tye’s interest in whistleblowing came from a stint as section chief for Internet freedom in the State Department’s Bureau of Democracy, Human Rights and Labor. He came forward as a whistleblower to publicize the government’s electronic surveillance practices. He wrote about it in 2014 in a Washington Post opinion piece that he submitted to the State Department for approval. His quest to air his concerns cost him $13,000 in legal fees. If a whistleblower comes to Whistleblower Aid with classified information, he or she will be steered to investigators with security clearances and the power to do something about it.
When Bill Binney, former NSA analyst and head of the anti-terror ThinThread metadata program sits in front of you and says he is not afraid of the government, you have to admire him. A wheel-chair-bound U.S. serviceman who rose in the ranks of intelligence to work in top-secret NSA programs, Binney created ThinThread prior to September 11, 2001, and says it mathematically broke down all phone communications anywhere in the world without any infringement on Constitutional rights. The program was self-running. More important, it worked. In "A Good American," the new documentary from executive producer Oliver Stone ... audiences are taken on a tense and frightening ride through Binney and his colleagues' experience developing and deploying ThinThread in tests, only to see its funding pulled just weeks before 9/11 in favor of an expensive and ineffective ... program called Trailblazer. Binney contends that ThinThread would have identified the terrorists who planned and executed the 9/11 terror attacks, thereby preventing them from occurring. When ThinThread's plug was pulled, Binney and his team challenged their NSA bosses, and in the process found themselves at odds with the U.S. government and in a complex web of lies and corruption. Thus, when Binney said he remains unafraid of possible repercussions or retaliation tied to the film's thesis, it's not hard to believe. "What else can they do to me?" he asks. "They've already tried everything to stop me."
Note: Watch a free trailer or rent the whole documentary on this webpage. Read a revealing, detailed New York Times article on Oliver Stone and his profound work to expose corruption and manipulation through film. For more along these lines, see concise summaries of deeply revealing intelligence agency corruption news articles from reliable major media sources. Then explore the excellent, reliable resources provided in our 9/11 Information Center.
Years before anyone had ever heard of [Edward] Snowden, [Bill] Binney, a gifted cryptologist and mathematician, was pushing back against the NSA’s spying overreach. In October 2001 ... he resigned rather than participate in a clandestine, massively overpriced and questionably legal electronic spying system code-named Trailblazer. Eventually, the government came after him. [Binney] was thrilled by [Oliver] Stone’s powerful biopic of Snowden, who astounded the world with his massive exposure of the NSA’s global spying programs. "I think it will help people understand what is really going on behind the scenes. They are invading the privacy of everyone," he says. "They can turn on your cellphone and listen to you. They can turn on your camera and watch you." In 2013 ... James Clapper, the director of national intelligence, [lied] under oath during a congressional hearing about the NSA’s spying programs. Snowden was watching. He had also seen what had happened to Binney and fellow NSA executives Thomas Drake, Ed Loomis and Kirk Wiebe, whose homes were raided by FBI agents after The New York Times exposed the NSA’s secret spying programs in 2005. Drake, prosecuted under the 1917 Espionage Act, was eventually acquitted ... but his career was ruined. [Snowden's] critics insist he should have pursued his complaints internally, despite the persuasive examples of Binney and his comrades that such resistance is futile, even risky.
Note: Watch a free trailer or rent the whole documentary on this webpage. Read a revealing, detailed New York Times article on Oliver Stone and his profound work to expose corruption and manipulation through film. For more along these lines, see concise summaries of deeply revealing news articles on intelligence agency corruption and the disappearance of privacy.
Chelsea Manning, the transgender U.S. Army soldier who spent seven years in prison for leaking classified documents, will not be distinguished visiting fellow at Harvard after growing backlash prompted the school to rescind the invitation. The school withdrew Manning's invite two days after announcing she would be one of roughly ten visiting fellows this fall. Manning's designation as a visiting fellow led to Mike Morell, former deputy director and acting director of the CIA, to resign his post as a senior fellow at Harvard University, CBS reported. CIA Director Mike Pompeo also canceled a speaking event Thursday at a Harvard forum in protest of what he called the school's decision to place Manning in a "position of honor." Manning was convicted of leaking more than 700,000 classified documents, including battlefield reports on Iraq and Afghanistan and State Department cables, while working as an intelligence analyst in Iraq. She said the leaks were intended to expose wrongdoing. Manning was arrested in May 2010 and given a 35-year sentence, which was commuted in the final days of the Obama administration. Manning was known as Pvt. Bradley Manning at the time of her arrest, but announced she was transgender during her incarceration. Elmendorf said Manning will still spend a day at the Kennedy School and speak in the Forum, though she will not be designated a visiting fellow.
Note: Read about Manning's wartime whistleblowing in this CNN story. For more along these lines, see concise summaries of deeply revealing news articles on corruption in intelligence agencies and in the corporate world.
Electronic mind-control research is not new. In the 1960s ... Dr. Jose Delgado demonstrated remote control over a charging bull. In recent years Delgado has shown that the behavior of monkeys can be altered using low-power pulsing magnetic fields. "Any function in the brain - emotions, intellect, personality - could we perhaps modify by this non-invasive technology," [he said]. Delgado’s research has so far been limited to animals. But in the Soviet Union a radio frequency, or RF, device has been used for over 30 years to manipulate the moods of mental patients. It’s called a Lida machine. It radiates pulses of radio frequency energy as well as light, sound, and heat. [One] scientist, who did not want his identity revealed, is employed by the U.S. Government and has done secret RF weapons research. He believes that tests done with the Lida and similar machines prove that humans are susceptible to remote alterations of mood and awareness. "Certain kinds of weak electromagnetic signals work exactly like drugs, and so the promise is that anything you can do with drugs you could do with the right electromagnetic signal, [this scientist said]. "As far as I’m concerned, the potential that this has for producing a direct psychoactive effect upon the total American population is there, has never been disproven," [commented] Dr. Robert Becker ... a pioneer in the field of bioeffects of electromagnetism.
Note: This 1985 CNN Special Report by Chuck DeCaro is a key to understanding the secret world of manipulation using electromagnetic frequencies. Don't miss the 20-minute video of this broadcast at the link above. The text is available here. Weapons like this have already been developed, as evidenced in these major media news articles. For more along these lines, see concise summaries of deeply revealing mind control news articles from reliable major media sources.
Madan Lal, 45, from Haryana in India was born without arms but learnt to adapt to the demands of everyday life by using his feet. Now he uses his talented toes to stitch beautiful garments from a shop in his village. He said: 'All the stitching work I do with my feet. From cutting the cloth to measurement, I have to use my feet.' He said: 'When I was young almost every school denied me admission because of my disability. My family couldn't afford to educate me, and I thought ... I'll have to do something to survive in this life.' At the age of 23, Mr Lal decided to take up tailoring, but found it very difficult to get any training. A determined Mr Lal decided to travel to Fatehabad and search for a tailor who was willing to train him. He said: 'I went to Fatehabad to learn stitching from a tailor. He initially refused to teach me. He said, "You don't have any arms, how would you do stitching?" 'I said, "Just give me one chance". He said okay and within 10 to 15 days my teacher started saying, "You will become successful". And I became very happy.' Within a year, Mr Lal had learned the art of tailoring and had opened a shop in his village. The impact on his life was immediate. 'That day I forgot all the sufferings. It was the best day of my life. I saw people coming to my shop to greet me. The whole village was happy, as if they were part of my family.' And now Madan's talent has overcome even the most sceptical of his villagers, and his exploits have made him something of a local hero. He said: 'Now everyone at our village comes to my shop.'
Note: Don't miss the inspiring 3-minute video of this very capable man.
It is often said that money doesn’t bring happiness, but researchers may have found the two things that do – sex and sleep. The Living Well Index, developed by researchers Oxford Economics, found that spending time in the bedroom is a lot more significant than quadrupling your income. A poll carried out by the National Centre for Social Research found that the most rested people score 15 points higher on the index than those who struggled with their sleep. People who are deeply dissatisfied with their sex lives score seven points lower on average than those who say they were very satisfied. By the same metric, increasing household income from Ł12,500 to Ł50,000 results in an increase of just two points. The report ... said: “For the typical Brit, improving their sleep to the level of someone at the top of the index would be equivalent to them having over four times as much disposable income,” adding that sleep was the “strongest indicator of a broader sense of well-being”. Other factors include living in a strong community, job security and the health of close relatives. The analysis also found ... a strong association between happiness and having a young child at home. “Baby boomers” who were still in work were the second-happiest group because of good job security and a high standard of living. The survey of 8,250 adults also found that older people are objectively happier than younger ones – even when other factors, such as wealth and lifestyle, are controlled.
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The Compassion Games is an annual international competition or ‘coopetition’ as they like to call it, which ran from 9-21 September where teams and individuals around the world compete to be the most compassionate. The games have grown to include teams of all kinds from all over the world including schools, families, community groups and even prisons (last year a prison in California entered and had its first ever 11-day period without a single act of violence). For individuals, like myself, there is the ‘secret agent of compassion’ option which is a series of 11 missions emailed to you daily over the course of the games. The missions include doing random acts of kindness, caring for the environment or the local neighbourhood, supporting charitable organisations and even just fully appreciating an everyday activity like brushing your teeth. My own 11 days of compassion involved ... making a tangible act of appreciation for the environment (I planted some seeds in our communal garden) and engaging in an activity that made someone smile (I joined in with my girlfriend’s fitness workout – boy did that one work!). How did I get into all this? A newsletter in my inbox. Karen Armstrong, the former nun turned religious writer ... had won the TED Prize. Granted one wish by TED to change the world, she had chosen to set up a Charter for Compassion to implement the Golden Rule ... across the globe. I hit ‘subscribe’ to the newsletters and one day received an email about the Compassion Games.
What do you do when you run out of good ideas? One increasingly popular solution is mindfulness meditation. Google, Goldman Sachs, and Medtronic are among the many leading firms that have introduced meditation and other mindfulness practices to their employees. Meditation is not only useful as a stress-reduction tool but can also enhance creativity, opening doors where once there seemed to be only a wall. To further verify that creativity is among the early benefits of mindfulness meditation ... we set up an experiment. One hundred twenty-nine participants (all of them students) were divided into three groups and assigned a creative task: Generate as many business ideas as possible for using drones. Before the individual brainstorming began, one group participated in a 10-minute audio-guided mindfulness meditation, and a second group participated in a 10-minute fake meditation exercise (they were instructed to think freely by letting their minds wander). A third group started to brainstorm immediately. Each of the three groups generated roughly the same number of ideas. The main difference was that meditators ... demonstrated a 22% wider range of ideas than the two non-meditating groups. We also found that a short meditation, similar to physical exercise, often put people in a more positive and relaxed frame of mind. In the group that had meditated, most people felt less negative. In particular, meditation decreased participants’ feeling of restlessness (by 23%), nervousness (by 17%), and irritation (by 24%).
Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.
The companies responsible for programming your phones are working hard to get you and your family to feel the need to check in constantly. Some programmers call it “brain hacking” and the tech world would probably prefer you didn’t hear about it. Ramsay Brown studied neuroscience before co-founding Dopamine Labs. The company is named after the dopamine molecule in our brains that aids in the creation of desire and pleasure. Brown and his colleagues write computer code for apps ... designed to provoke a neurological response. The computer code he creates finds the best moment to give you ... rewards, which have no actual value, but Brown says trigger your brain to make you want more. When Brown says “experiments,” he’s talking generally about the millions of computer calculations being used every moment by his company and others use to constantly tweak your online experience. "You’re part of a controlled set of experiments that are happening in real time across you and millions of other people," [said Brown]. "You’re guinea pigs ... pushing the button and sometimes getting the likes. And they’re doing this to keep you in there. You don’t pay for Facebook. Advertisers pay for Facebook. You get to use it for free because your eyeballs are what’s being sold there." While Brown is tapping into the power of dopamine, psychologist Larry Rosen and his team at California State University ... are researching the effect technology has on our anxiety levels. Their research suggests our phones are keeping us in a continual state of anxiety in which the only antidote – is the phone.
Note: This new form of "brain hacking" adds to a vast arsenal of behavior modification technologies developed by government and industry. For more along these lines, see concise summaries of deeply revealing news articles on mind control and the disappearance of privacy.
The blaring, grinding noise jolted the American diplomat from his bed. He moved just a few feet, and there was silence. He climbed back into bed. The agonizing sound hit him again. It was as if he’d walked through some invisible wall cutting straight through his room. Soon came the hearing loss, and the speech problems, symptoms both similar and altogether different from others among at least 21 US victims in an astonishing international mystery still unfolding in Cuba. New details learned by the Associated Press indicate at least some of the incidents were confined to specific rooms or even parts of rooms with laser-like specificity, baffling US officials who say the facts and the physics don’t add up. Suspicion initially focused on a sonic weapon. Yet the diagnosis of mild brain injury, considered unlikely to result from sound, has confounded the FBI, the state department and US intelligence agencies involved in the investigation. Some victims now have problems concentrating or recalling specific words, several officials said, the latest signs of more serious damage than the US government initially realized. The United States first acknowledged the attacks in August – nine months after symptoms were first reported. The cases vary deeply: different symptoms, different recollections of what happened. In several episodes recounted by US officials, victims knew it was happening in real time, and there were strong indications of a sonic attack.
Note: Sound weapons developed for war and increasingly used against civilian populations are well-documented. For more along these lines, see concise summaries of deeply revealing non-lethal weapons news articles from reliable major media sources.
Some of the world’s leading robotics and artificial intelligence pioneers are calling on the United Nations to ban the development and use of killer robots. Tesla’s Elon Musk and Alphabet’s Mustafa Suleyman are leading a group of 116 specialists from across 26 countries who are calling for the ban on autonomous weapons. The UN recently voted to begin formal discussions on such weapons which include drones, tanks and automated machine guns. Ahead of this, the group of founders of AI and robotics companies have sent an open letter to the UN calling for it to prevent the arms race that is currently under way for killer robots. In their letter, the founders warn the review conference ... that this arms race threatens to usher in the “third revolution in warfare” after gunpowder and nuclear arms. The founders wrote: “Once developed, lethal autonomous weapons will permit armed conflict to be fought at a scale greater than ever, and at timescales faster than humans can comprehend.” The founders call for “morally wrong” lethal autonomous weapons systems to be added to the list of weapons banned under the UN’s convention on certain conventional weapons (CCW) brought into force in 1983, which includes chemical and intentionally blinding laser weapons. Musk ... has repeatedly warned for the need for pro-active regulation of AI, calling it humanity’s biggest existential threat. While the suggestion of killer robots conjures images from science fiction ... lethal autonomous weapons are already in use.
Note: Despite Gen. Paul Selva's recent warning against putting "robots in charge of whether or not we take a human life," the US is among several countries currently moving forward with automating warfare. A 2013 report for the U.N. Human Rights Commission called for a worldwide moratorium on the “testing, production, assembly, transfer, acquisition, deployment and use” of killer robots until an international conference can develop rules for their use. For more along these lines, see concise summaries of deeply revealing war news articles from reliable major media sources.
Google spent the most it ever has in a single quarter trying to influence elected officials in Washington, according to lobbying disclosures made public late Thursday. The past three months have also seen record spending on lobbying by several other major tech companies, including Amazon, Apple and Uber. Google Inc., according to the disclosure forms, spent $5.93 million between April 1 and June 30. That’s about 40 percent more than it had spent during the same period last year. The only three entities that doled out more money were large business organizations: the U.S. Chamber of Commerce ($11.68 million), the National Association of Realtors ($10.92 million) and Pharmaceutical Research and Manufacturers of America ($6 million). Since the 2016 election, the tech industry has had to navigate ... an administration whose decisions have often cut against Silicon Valley’s business interests. The combined lobbying efforts of some of the most influential tech companies - Google, Facebook, Amazon, Apple and Microsoft - totaled $15.79 million. Google’s lobbying efforts come as it faces the largest fine the European Union has ever levied against a company for abusing its dominant market position. In June, the European Union’s antitrust chief hit Google with a $2.7 billion fine, saying the company illegally steered users toward its comparison shopping site. If the ruling is not overturned, it could reshape the company’s behavior and direct the evolving boundaries of tech-industry regulation.
Note: Check out the intriguing, well researched article "How the CIA Made Google." For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.
Wells Fargo’s admission that its employees created up to 3.5 million fraudulent accounts suggests a reckless, out-of-control culture. But the San Francisco banking giant seems to have a split personality of sorts. While branch employees aggressively pressured consumers ... commercial bankers adopted a relatively stingy approach to lending money to companies. That strategy allowed Wells Fargo to avoid the same kind of bad commercial loans that wiped out many banks during the financial crisis a decade ago. Had Wells Fargo applied the same due diligence to consumer banking as it did to commercial banking, the company might have avoided its current troubles. How do we reconcile these reckless/conservative sides of Wells Fargo? For one thing, federal regulators were not exactly keeping a close watch over Wells Fargo’s consumer business. Over the past two decades, the Office of the Comptroller of the Currency, which is charged with protecting consumers, issued just 448 enforcement actions against Wells Fargo, even as the bank’s total assets have soared from nearly $200 billion in 1998 ... to $1.85 trillion today. The sheer size ... of the bank allows different divisions to essentially act like separate companies. That means community and commercial operations can boast completely different strategies and methods of compensating employees. In Wells Fargo’s case, branch employees would receive more pay if they hit aggressive sales goals, prompting them to open fraudulent accounts.
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.
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.