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Corporate Corruption Media Articles
Excerpts of Key Corporate Corruption Media Articles in Major Media


Below are key excerpts of revealing news articles on corporate corruption from reliable news media sources. If any link fails to function, a paywall blocks full access, or the article is no longer available, try these digital tools.


Note: Explore our full index to key excerpts of revealing major media news articles on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.


Political writer Irving Kristol dead at 89
2009-09-18, MSNBC/Associated Press
http://www.msnbc.msn.com/id/32920052/ns/politics-more_politics

Irving Kristol, the political writer and publisher known as the godfather of neo-conservatism,... died Friday. He was 89. A Trotskyist in the 1930s, Kristol would soon sour on socialism, break from liberalism after the rise of the New Left in the 1960s and in the 1970s commit the unthinkable — support the Republican Party, once as "foreign to me as attending a Catholic mass." He was a flagship in the network of think tanks, media outlets and corporations that helped make conservatism a reigning ideology for at least two decades. Former Vice President Dick Cheney was a longtime admirer and former President George W. Bush, whose administration was heavily populated by neo-conservatives, awarded Kristol a Presidential Medal of Freedom in 2002. Kristol himself would regard neo-conservatism as a job well done. But the Iraq War and the poor economy badly damaged the right's unity and credibility over the past few years. "If there is any one thing that neo-conservatives are unanimous about, it is their dislike of the counterculture," Kristol once said. With funding from Joseph Coors, Richard Mellon Scaife and others, the right created such think tanks as the Heritage Foundation and the Center for Strategic and International Studies. Kristol himself was a fellow at a key think tank, the American Enterprise Institute. Kristol also taught at New York University, worked for several years as a senior editor at the Basic Books publishing house and in the 1950s headed the anti-communist magazine Encounter, which turned out to have been funded — without Kristol's knowledge, he said — by the CIA.

Note: To learn how Kristol became a top manager in spreading fear to support the political elite, watch the powerful BBC documentary "The Power of Nightmares" at this link. This revealing film show how much of the fear spread by the media is consciously fabricated by people like Kristol and his colleagues.


Big Oil’s Stain in the Amazon
2009-09-09, New York Times
http://movies.nytimes.com/2009/09/09/movies/09crude.html

Because of concerns about climate change, a lot of current environmentalist advocacy — including movies like “An Inconvenient Truth” — concentrates on the dire results of burning fossil fuels. Joe Berlinger’s “Crude,” a thorough and impassioned new documentary, focuses its gaze on production rather than consumption. The film, which follows the fitful progress of a class-action lawsuit undertaken on behalf of the people of the Ecuadorean Amazon, is not about the unintended consequences of using petroleum. Instead, it examines the terrible, frequently unacknowledged costs of extracting oil from the ground. “Crude,” in other words, investigates the local manifestations — cancer, contaminated water, cultural degradation — of a global problem. Even as “Crude” dwells on a single, relatively small slice of territory (about the size of Rhode Island), its action shifts from muddy villages in Amazonia to law offices and shareholders’ meetings in the steel-and-glass cities of North America, drawing into its purview a motley cast of scientists, human rights crusaders, civil servants and international celebrities. Like almost every other recent documentary on a politically charged topic, “Crude” does not pretend to neutrality. Yet while Mr. Berlinger’s sympathies clearly lie with the oddly matched pair of lawyers — Steven Donziger, a big, outgoing American, and Pablo Fajardo, a wiry, diffident Ecuadorean — who are consumed by the now 16-year-old suit against Chevron, he is fair-minded enough to include rebuttals from the company’s executives and in-house environmental scientists. And since this is, in part, a courtroom drama, both sides have a chance to be heard.


"Capitalism is evil", says new Michael Moore film
2009-09-06, Calgary Herald/Reuters
http://www.calgaryherald.com/news/Capitalism+evil+says+Michael+Moore+film/196...

Capitalism is evil. That is the conclusion U.S. documentary maker Michael Moore comes to in his latest movie "Capitalism: A Love Story", which [premiered] at the Venice film festival on Sunday. Blending his trademark humour with tragic individual stories, archive footage and publicity stunts, the 55-year-old launches an all out attack on the capitalist system, arguing that it benefits the rich and condemns millions to poverty. "Capitalism is an evil, and you cannot regulate evil," the two-hour movie concludes. "You have to eliminate it and replace it with something that is good for all people and that something is democracy." The bad guys in Moore's mind are big banks and hedge funds which "gambled" investors' money in complex derivatives that few, if any, really understood and which belonged in the casino. The filmmaker also sees an uncomfortably close relationship between banks, politicians and U.S. Treasury officials, meaning that regulation has been changed to favour the few on Wall Street rather than the many on Main Street. He says that by encouraging Americans to borrow against the value of their homes, businesses created the conditions that led to the crisis, and with it homelessness and unemployment. Moore even features priests who say capitalism is anti-Christian by failing to protect the poor.

Note: For a treasure trove of reports from reliable sources on the realities of the Wall Street bailout, click here.


Inquiry Stokes Unease Over Trading Firms That Shape Markets
2009-09-04, New York Times
http://www.nytimes.com/2009/09/04/business/global/04optiver.html

Its superfast, supersecret oil trading software was called the Hammer. And if the Commodity Futures Trading Commission is right, the name fit well with an intricate scheme that allowed commodity traders in Chicago working for Optiver, a little-known company based in Amsterdam, to put their orders first in line and subtly manipulate the price of oil to the company’s advantage. Transcripts and taped conversations of actions that took place in 2007 ... reveal the secretive workings of high-frequency trading, a fast-growing Wall Street business. Critics say this high-speed form of computerized trading, which is used in a wide range of financial markets, enables its practitioners to profit at other investors’ expense. Traders in the Chicago office of Optiver openly talked among themselves of “whacking” and “bullying up” the price of oil. But when called to account by officials of the New York Mercantile Exchange, they described their actions as just “providing liquidity.” In July 2008, the commission charged Optiver with manipulating the price of oil; negotiations over a settlement continue. The Securities and Exchange Commission has opened up an investigation into high-speed-trading practices, in particular the ability of some of the most powerful computers to jump to the head of the trading queue and — in a fraction of a millisecond — capture the evanescent trading spread before the rest of the market does.

Note: This and other reports likely show only the tip of the iceberg of how prices of key stocks and commodities are manipulated. For a great collection of reports from major media sources on the schemes and tricks used by financial corporations, click here.


A ‘Little Judge’ Who Rejects Foreclosures, Brooklyn Style
2009-08-31, New York Times
http://www.nytimes.com/2009/08/31/nyregion/31judge.html

Every week, the nation’s mightiest banks come to his court seeking to take the homes of New Yorkers who cannot pay their mortgages. And nearly as often, the judge says, they file foreclosure papers speckled with errors. He plucks out one motion and leafs through: a Deutsche Bank representative signed an affidavit claiming to be the vice president of two different banks. His office was in Kansas City, Mo., but the signature was notarized in Texas. And the bank did not even own the mortgage when it began to foreclose on the homeowner. “I’m a little guy in Brooklyn who doesn’t belong to their country clubs, what can I tell you?” he says, adding a shrug for punctuation. “I won’t accept their comedy of errors.” The judge, Arthur M. Schack, 64, fashions himself a judicial Don Quixote, tilting at the phalanxes of bankers, foreclosure facilitators and lawyers who file motions by the bale. He has tossed out 46 of the 102 foreclosure motions that have come before him in the last two years. And his often scathing decisions, peppered with allusions to the Croesus-like wealth of bank presidents, have attracted the respectful attention of judges and lawyers from Florida to Ohio to California. At recent judicial conferences in Chicago and Arizona, several panelists praised his rulings as a possible national model. Justice Schack, like a handful of state and federal judges, has taken a magnifying glass to the mortgage industry. Justice Schack’s take is straightforward, and sends a tremor through some bank suites: If a bank cannot prove ownership, it cannot foreclose. “If you are going to take away someone’s house, everything should be legal and correct,” he said. “I’m a strange guy — I don’t want to put a family on the street unless it’s legitimate.”


Blackwater Tapped Foreigners on Secret CIA Program
2009-08-31, ABC News/Associated Press
http://abcnews.go.com/Politics/wireStory?id=8450594

When the CIA revived a plan to kill or capture [alleged] terrorists in 2004, the agency turned to the well-connected security company then known as Blackwater USA. With Blackwater's lucrative government security work and contacts arrayed in hot spots around the world, company officials offered the services of foreigners supposedly skilled at tracking [people] in lawless regions and countries where the CIA had no working relationships with the government. But the CIA's use of the private contractor as part of its now-abandoned plan to dispatch death squads skirted concerns now re-emerging with recent disclosures about Blackwater's role. Blackwater's later hiring of several senior CIA officials who were involved in or aware of the secret program, including one of the men who ran the operation, showed the blurred lines of using a private contractor for such a highly classified and dangerous project. The 2004 decision by CIA officials to entrust the North Carolina-based company with such a sensitive overseas operation struck some former agency officials as highly unusual. "The question remains: Why do we need Blackwater?" said Charles Faddis, a former department chief at the CIA's Counterterrorism Center who retired in 2008 and was not involved in the secret program. "I remain mystified. This is quintessential CIA work. You wonder what it means that the CIA has to rely on Blackwater? Why are we still funding the CIA?" The former senior CIA official who had knowledge of the program explained that "you wouldn't want to have American fingerprints on it."

Note: For lots more on government corruption, click here.


Banks 'Too Big to Fail' Have Grown Even Bigger
2009-08-28, Washington Post
http://www.washingtonpost.com/wp-dyn/content/story/2009/08/28/ST2009082800437...

When the credit crisis struck last year, federal regulators pumped tens of billions of dollars into the nation's leading financial institutions because the banks were so big that officials feared their failure would ruin the entire financial system. Today, the biggest of those banks are even bigger. The crisis may be turning out very well for many of the behemoths that dominate U.S. finance. A series of federally arranged mergers safely landed troubled banks on the decks of more stable firms. And it allowed the survivors to emerge from the turmoil with strengthened market positions, giving them even greater control over consumer lending and more potential to profit. J.P. Morgan Chase ... now holds more than $1 of every $10 on deposit in this country. So does Bank of America, scarred by its acquisition of Merrill Lynch and partly government-owned as a result of the crisis, as does Wells Fargo, the biggest West Coast bank. Those three banks, plus government-rescued and -owned Citigroup, now issue one of every two mortgages and about two of every three credit cards, federal data show. Concerns are twofold: that consumers will wind up with fewer choices for services and that big banks will assume they always have the government's backing if things go wrong. That presumed guarantee means large companies could return to the risky behavior that led to the crisis if they figure federal officials will clean up their mess. The worry for consumers is that the bailouts skewed the financial industry in favor of the big and powerful. Fresh data from the FDIC show that big banks have the ability to borrow more cheaply than their peers because creditors assume these large companies are not at risk of failing.

Note: For lots more from reliable sources on the realities of the Wall Street bailout, click here.


Oil, Ecuador and its people
2009-08-28, Los Angeles Times
http://www.latimes.com/news/opinion/la-ed-chevron28-2009aug28,0,6949161.story

Chevron Corp., California's largest company and one of the world's largest oil producers, will soon face a day of reckoning. After 16 years of litigation, a case the company inherited in a merger, Aguinda vs. Texaco Inc., is nearing an end. The legal battle that began in the United States in 1993 and resumed in Ecuador in 2003 has pitted the multinational against an unlikely adversary, a coalition of indigenous tribes and communities. A verdict is expected early next year. The plaintiffs are poised to prevail, and Chevron acknowledges that it is likely to lose. The case is historic by several measures. Never before have indigenous peoples brought a multinational oil corporation to trial in their own country. Moreover, a victory would mark a turning point in the relations between native populations around the world and the foreign corporations that do business in their homelands. And the potential damages are staggering: A court-appointed expert has determined that they could run to $27 billion, almost 10 times that initially awarded to plaintiffs after the Exxon Valdez oil spill. Today, a swath of the Ecuadorean Amazon the size of Rhode Island remains contaminated beyond imagining. At one site after another, oil hangs in the air, slides on the water's surface and saturates the land. Pipelines and waste pits left behind years ago still drip and ooze. Advocates for the plaintiffs have called the former Texaco concession area the "Amazon Chernobyl." Were it in the United States, it would easily qualify as a Superfund site. Neither side in the case disputes the devastation, only who should pay for it.

Note: For the inspiring story of the courageous Ecuadorian lawyer behind this David vs. Goliath lawsuit, click here. A smear campaign by Chevron against the judge in this case has more recently swayed opinion in favor of Chevron again. Contact your political and media representatives at this link to express your opinion.


Rich NYC Mayor: Drug CEOs Don't Make Much Money
2009-08-28, ABC News/Associated Press
http://abcnews.go.com/US/wireStory?id=8382748

Billionaire Mayor Michael Bloomberg defended multibillion-dollar pharmaceutical companies and their chief executives on Friday, declaring that they "don't make a lot of money" and shouldn't be scapegoats in the health care debate. The mayor — and wealthiest person in New York City with a fortune estimated at $16.5 billion — made the comments on his radio show Friday. "You know, last time I checked, pharmaceutical companies don't make a lot of money, their executives don't make a lot of money," Bloomberg said. Pharmaceutical CEOs are known to make millions, with generous salaries, stock options and other perks. Abbott Laboratories Inc. Chairman and Chief Executive Miles White's compensation was $25.3 million in 2008. The North Chicago, Ill.-based company saw profit rising 35 percent to $4.88 billion. Merck & Co.'s chief executive, Richard T. Clark, received a $17.3 million compensation package for 2008. The company's profit more than doubled to $7.8 billion. The mayor ... often battles criticism that he is out of touch with regular people. Earlier this year he declared "we love the rich people" while arguing against raising taxes on the wealthy. It was clear that Bloomberg or one of his aides realized his gaffe while he was still on the air Friday. The mayor, who has sought to cast himself as a financial and business expert, came back from a break and said he had looked up the pay of some pharmaceutical executives. "Some of them are making a decent amount, more than a decent amount of money," he said.


Speculators busier as crude oil cost spikes
2009-08-28, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/08/28/BU1B19EQFS.DTL

Speculators now account for half of all traders in the main U.S. oil market, and their growing presence coincided with this decade's historic rise in the price of crude, according to a new Rice University study. The study does not try to prove that speculators caused the price spike, as many politicians and consumer advocates believe. But the authors note that prices rose steadily along with the number of speculative investors, and fell with them as well. Seven years ago, speculators accounted for 20 percent of oil traders on the New York Mercantile Exchange. That number jumped to 55 percent by the time oil prices reached their all-time peak above $145 per barrel last summer. Now oil costs $72, and speculative investors account for half the traders. The government limits the number of oil contracts that each speculator can hold. But under the Commodity Futures Modernization Act [passed in 2000], trades on electronic exchanges or overseas markets don't count toward those limits. The study uses data from the Commodity Futures Trading Commission. Speculators are defined as traders who use oil strictly as a financial investment, those who will never take delivery of a tanker-full of crude. "This confirms what we and others have said for some time," said Tyson Slocum, director of the energy program at the Public Citizen watchdog group. "The good thing from the oil price run-up of 2008 is it has forced Congress to realize there's a problem in these markets, and the answer is re-regulation." The financial industry opposes tightening the regulations.

Note: To read the full study, click here.


World's Stocks Controlled by Select Few
2009-08-26, Inside Science News/American Institute of Physics
http://www.livescience.com/culture/090826-stock-market.html

A recent analysis of the 2007 financial markets of 48 countries has revealed that the world's finances are in the hands of just a few mutual funds, banks, and corporations. This is the first clear picture of the global concentration of financial power, and ... the worldwide financial system's vulnerability. A pair of physicists at the Swiss Federal Institute of Technology in Zurich did a physics-based analysis of the world economy as it looked in early 2007. Stefano Battiston and James Glattfelder extracted the information from the tangled yarn that links 24,877 stocks and 106,141 shareholding entities in 48 countries, revealing what they called the "backbone" of each country's financial market. The most pared-down backbones exist in Anglo-Saxon countries, including the U.S., Australia, and the U.K.. The biggest fish was the Capital Group Companies, with major stakes in 36 of the 48 countries studied. The results raise questions of where and when a company could choose to exert this influence. Glattfelder added that the internationalism of these powerful companies makes it difficult to gauge their economic influence. "[With] company structures which are so big and spanning the globe, it's hard to see what they're up to and what they're doing,” he said. Large, sparse networks dominated by a few major companies could also be more vulnerable, he said. "In network speak, if those nodes fail, that has a big effect on the network." The results will be published in an upcoming issue of the journal Physical Review E.

Note: For a treasure trove of revelations about the realities of the global financial structure, click here.


Doctors may refuse swine flu vaccine
2009-08-24, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/society/2009/aug/24/doctors-refuse-swine-flu-vaccine

Many GPs, as well as their patients, may be reluctant to be immunised against swine flu once a vaccine is developed, surveys suggest today. A survey of GPs published on Healthcare Republic, the website of GP magazine, found that up to 60% of GPs may decline vaccination. Although the numbers who responded were small – 216 GPs – they are in line with a much bigger survey of nurses published a week ago by Nursing Times, which found that a third of 1,500 nurses would refuse vaccination. A Canadian study published today in the journal Emerging Health Threats suggests the public, too, will have reservations that must be overcome if a vaccination campaign is to be successful in the autumn or winter. The study, which used focus groups to establish the likely response of different people to a vaccine, pointed to the need to win over people who believe that alternative therapies and a good diet are a better option than vaccines. But the biggest problem in persuading people and healthcare professionals to have the jab may be the relative shortage of evidence from trials about its safety and efficacy. Because of the urgent need for a vaccine, testing will be limited. Among the GPs who responded to the survey published by Healthcare Republic, 29% said they would not choose to have the vaccine and 29% said they were unsure whether or not they would. The biggest reason given by those who said they would not have it was concern that the safety trials would not be adequate: 71.3% said they were "concerned that the vaccine has not yet been through sufficient trials to guarantee safety". Half – 50.4% – said they "believe that swine flu is too mild to justify taking the vaccine".

Note: Yet the Massachusetts Senate has now passed a bill which would impose fines up to $1,000 and jail up to 30 days for those who refuse vaccines or quarantine orders in a health emergency. Other states are considering similar legislation. For lots more on the real dangers of the swine flu vaccine, click here.


Rise of the Super-Rich Hits a Sobering Wall
2009-08-21, New York Times
http://www.nytimes.com/2009/08/21/business/economy/21inequality.html

The rich have been getting richer for so long that the trend has come to seem almost permanent. They began to pull away from everyone else in the 1970s. By 2006, income was more concentrated at the top than it had been since the late 1920s. The recent news about resurgent Wall Street pay has seemed to suggest that not even the Great Recession could reverse the rise in income inequality. But economists say — and data is beginning to show — that a significant change may in fact be under way. The rich, as a group, are no longer getting richer. Over the last two years, they have become poorer. And many may not return to their old levels of wealth and income anytime soon. Last year, the number of Americans with a net worth of at least $30 million dropped 24 percent. Few economists expect the country to return to the relatively flat income distribution of the 1950s and 1960s. Indeed, they say that inequality is likely to remain significantly greater than it was for most of the 20th century. In 2007, the top one ten-thousandth of households took home 6 percent of the nation’s income, up from 0.9 percent in 1977. It was the highest such level since at least 1913, the first year for which the I.R.S. has data. The top 1 percent of earners took home 23.5 percent of income, up from 9 percent three decades earlier.

Note: Two researchers into income inequality, Emmanuel Saez and Thomas Piketty, recently released a detailed report showing that income inequality in 2007, just before the real estate bubble burst and the financial crisis unfolded, was the highest since 1917. To read their report, "Striking it Richer: The Evolution of Top Incomes in the United States," click here. For analysis of the report, click here.


Oil lobby to fund campaign against Obama's climate change strategy
2009-08-14, The Guardian (One of the UK's leading newspapers)
http://www.guardian.co.uk/environment/2009/aug/14/us-lobbying

The US oil and gas lobby are planning to stage public events to give the appearance of a groundswell of public opinion against legislation that is key to Barack Obama's climate change strategy. A key lobbying group will bankroll and organise 20 "energy citizen" rallies in 20 states. In an email obtained by Greenpeace, Jack Gerard, the president of the American Petroleum Institute (API), outlined what he called a "sensitive" plan to stage events during the August congressional recess to put a "human face" on opposition to climate and energy reform. "Our goal is to energise people and show them that they are not alone," said Cathy Landry, for API, who confirmed that the memo was authentic. The email from Gerard lays out ambitious plans to stage a series of lunchtime rallies to try to shape the climate bill that was passed by the house in June and will come before the Senate in September. "We must move aggressively," it reads.The API strategy also extends to a PR drive. Gerard cites polls to test the effectiveness of its arguments against climate change legislation. It offers up the "energy citizen" rallies as ready-made events, noting that allies – which include manufacturing and farm alliances as well as 400 oil and gas member organisations – will have to do little more than turn up. "API will provide the up-front resources," the email said. "This includes contracting with a highly experienced events management company that has produced successful rallies for presidential campaigns."

Note: For important reports from major media sources on global warming and oil company manipulation of public perception, click here.


Glaxo profits soar as drug firm charges NHS Ł6 for swine flu vaccine that costs Ł1 to make
2009-07-23, Daily Mail (One of the UK's largest-circulation newspapers)
http://www.dailymail.co.uk/news/article-1201450/GlaxoSmithKline-accused-profi...

Drugs giant GlaxoSmithKline was accused of cashing in on swine flu after it revealed its profits have risen 10 per cent since the virus was identified. It announced profits yesterday of Ł2.1billion in the past three months. Sales of vaccines and antiviral drugs could push the figure up even higher. GSK chief executive Andrew Witty admitted the swine flu crisis would be a 'significant financial event for the company'. Sales of the company's Relenza inhaler, an alternative to Tamiflu used by pregnant women among others, are expected to top Ł600million. And this figure could be boosted by up to Ł2billion once deliveries of the swine flu vaccine begin in September. But Mr Witty denied Europe's biggest drugs company was gearing up to cash in. He admitted it was planning to charge the UK Ł6 a jab, but vociferously denied reports it cost a pound to manufacture. Liberal Democrat health spokesman Norman Lamb said: 'This is clearly a bonanza for the company. This is a staggeringly substantial return. I will write to the National Audit Office to determine whether we got the best deal for the taxpayer.' Susi Squire of the TaxPayers' Alliance said: 'We need an assurance from the Government that they have got the most competitive rate out of GlaxoSmith-Kline.' Geoff Martin of London Health Emergency said: 'It's a scandal that any company could use the swine flu pandemic as an opportunity to jack up profits. 'The Government should step in and impose a windfall tax on private companies that have hit the jackpot as a result of the flu crisis.'

Note: For more on profiteering in the vaccination industry, click here.


A Whole Industry Is Waiting For A Pandemic
2009-07-21, Der Spiegel (Germany's leading news magazine)
http://www.spiegel.de/international/world/0,1518,637119,00.html

In an interview with SPIEGEL, epidemiologist Tom Jefferson speaks about dangerous fear-mongering, misguided, money-driven research and why we should all be washing our hands a lot more often. SPIEGEL: Do you consider the swine flu to be particularly worrisome? Jefferson: There are some people who make predictions year after year, and they get worse and worse. None of them so far have come about, and these people are still there making these predictions. Sometimes you get the feeling that there is a whole industry almost waiting for a pandemic to occur. SPIEGEL: Who do you mean? Jefferson: The WHO and public health officials, virologists and the pharmaceutical companies. They've built this machine around the impending pandemic. And there's a lot of money involved, and influence, and careers, and entire institutions! And all it took was one of these influenza viruses to mutate to start the machine grinding. SPIEGEL: Do you think the WHO declared a pandemic prematurely? Jefferson: Don't you think there's something noteworthy about the fact that the WHO has changed its definition of pandemic? The old definition was a new virus, which went around quickly, for which you didn't have immunity, and which created a high morbidity and mortality rate. Now the last two have been dropped, and that's how swine flu has been categorized as a pandemic.

Note: For lots more on the Swine Flu "false pandemic," click here.


With Big Profit, Goldman Sees Big Payday Ahead
2009-07-15, New York Times
http://www.nytimes.com/2009/07/15/business/15goldman.html?partner=rss&emc=rss...

After all that federal aid, a resurgent Goldman Sachs is on course to dole out bonuses that could rival the record paydays of the heady bull-market years. Goldman posted the richest quarterly profit in its 140-year history and, to the envy of its rivals, announced that it had earmarked $11.4 billion so far this year to compensate its workers. At that rate, Goldman employees could, on average, earn roughly $770,000 each this year — or nearly what they did at the height of the boom. Senior Goldman executives and bankers would be paid considerably more. Only three years ago, Goldman paid more than 50 employees above $20 million each. In 2007, its chief executive, Lloyd C. Blankfein, collected one of the biggest bonuses in corporate history. The latest headline results — $3.44 billion in profits — were powered by earnings from the bank’s secretive trading operations and exceeded even the most optimistic predictions. But Goldman’s sudden good fortune, coming only a month after the bank repaid billions of bailout dollars, raises questions for Washington policy makers. In Washington, some lawmakers warned on Tuesday that a quick return to such high pay would stoke public anger as the Obama administration tried to overhaul financial regulation. They warned that Wall Street lobbyists were already trying to block financial reforms. “People all over this country feel an incredible frustration that they are seeing their neighbors lose their jobs and the government is helping companies like A.I.G. and Goldman Sachs and then the next thing they are reporting huge profits and huge compensation,” said Senator Sherrod Brown, Democrat of Ohio and a member of the banking committee. “I think people are incredulous that this system is working this way.”

Note: For a treasure trove of revelations from reliable sources on the hidden realities behind the Wall Street bailout, click here.


Pandemic flu shows need for pharma incentives: WHO
2009-07-14, Reuters News
http://www.reuters.com/article/healthNews/idUSTRE56D1XM20090714

Pharmaceutical firms need incentives, including lucrative patents, to keep creating drugs and vaccines against emergent threats such as the H1N1 influenza pandemic, the World Health Organization's head said on Tuesday. "Progress in public health depends on innovation. Some of the greatest strides forward for health have followed the development and introduction of new medicines and vaccines," said WHO Director-General Margaret Chan said. Chan, who last month declared a full pandemic underway from the H1N1 virus, said that patents can help ensure that companies develop medicines to "stay ahead of the development of drug resistance" in diseases like malaria and tuberculosis. The discovery of isolated H1N1 infections that resist the anti-viral Tamiflu, made by Roche and Gilead, and the global scramble to secure flu vaccines have shown the importance of robust research and development, Chan said. "Innovation is needed to keep pace with the emergence of new diseases, including pandemic influenza caused by the new H1N1 virus," she told a meeting on intellectual property and health, a contentious issue that has divided rich and poor nations.

Note: How much more blatant can it get? The WHO is telling us to pump money into the corrupt pharmaceutical corporations, who make huge profits from fear mongering and health disasters. When profit drives the health industry, which do you think comes first, money or public health? For lots more revealing, reliable information on the fear-mongering around swine flu, click here and here.


Swine flu vaccine rushed through safety checks
2009-07-13, Times of London (One of the UK's leading newspapers)
http://www.timesonline.co.uk/tol/news/uk/health/article6694046.ece

A swine flu vaccine will be fast-tracked for use in Britain within five days once it is developed, and 130 million doses are on order. The Department of Health expects to have enough vaccine this year to give it to half the population. Further supplies will be available if needed. Each person will need two doses of the vaccine, unless one single jab is found to provide high rates of immunity. The first doses specific to the H1N1 swine flu virus are set to arrive in September and could be given regulatory approval in less than a week. The move came after the first British patient without underlying health problems died from swine flu, taking the number of swine flu-linked deaths in Britain to 15. Peter Holden, the British Medical Association’s lead negotiator on swine flu, said that ... although swine flu was not generally causing serious illness in patients, health officials were eager to start a mass vaccination campaign, starting first on groups that were susceptible to infection or prone to complications. It is likely that the elderly would be given a seasonal flu jab to guard against other circulating flu strains — as happens every year — as well as the swine flu vaccination. “The high-risk groups will be done at GPs’ surgeries. People are still making decisions over this, but we want to get cracking before we get a second wave, which is traditionally far more virulent,” Dr Holden said. It takes several weeks or months to make flu vaccines, which are cultured using chicken eggs. The European Medicines Agency said the fast-tracked approval procedure has involved trials of a “mock-up” vaccine and that the speed would not compromise patient safety. “The vaccines are authorised with a detailed risk management plan,” the agency said.

Important Note: Don't be fooled by this media propaganda. The same rushed attitude is what led to hundreds of deaths from the swine flu vaccine in 1976. Click here for a powerful CBS 60 Minutes video showing how a huge vaccine propaganda campaign by the government led to these deaths. And a recent article in The Scotsman quotes a spokesperson for the Scottish government saying "We have said that a vaccine is being worked on and the plan is to vaccinate everybody." Remember that the media is beholden to pharmaceutical companies for billions of dollars in advertising income. For lots more powerful information on this vital topic, click here.


Swine flu doses on way to Wales
2009-07-13, BBC News
http://news.bbc.co.uk/2/hi/uk_news/wales/wales_politics/8148345.stm

Enough doses of swine flu vaccines for everyone in Wales should begin arriving in the next few weeks. Latest figures show 64 confirmed Welsh cases, but new counting methods mean up to 1m people in Wales could be diagnosed with the illness long term. Up to six million doses would become available, with two per person, and those most at risk would be first in line to receive a jab. Experts will carry out tests and work out how to administer the vaccine. Wales' chief medical officer Dr Tony Jewell said it would be a huge logistical exercise. Dr Jewell said the vaccine would reduce the impact of a second phase of swine flu. "It will put us in a good position to modify it. It is an unprecedented situation," he said. So far 64 cases of swine flu in Wales have been confirmed by laboratory testing. Latest figures across Wales reveal that 426 people have gone to their local doctor in the past week with flu-like symptoms. Three were admitted to hospital over the last few days. Health officials said for every 100,000 people there have been 14.2 cases of flu-like illnesses. But Wales is behind other parts of the UK for infection rates. In Scotland the rate is 23.6 cases, while in England it is 51.9 cases. Seven people in Wales with swine flu had to be hospitalised but five have since been discharged. 17 people in the UK have died - all but one of them had underlying health problems. Experts say that for most people the illness is mild and gets better within five to seven days.

Note: 426 people had flu-like symptoms? Couldn't that be the normal flu? And all but one of the 17 who died had underlying health problems. Hmmmm. So why are they preparing six million vaccine doses? Could there be lots of money to be made here? A Wall Street Journal article states that $1 billion of our tax dollars have already been set aside with $7.5 billion more on the way. For more reliable information on manipulations involving swine flu, click here and here.


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