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Government Corruption News Articles
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Note: Explore our full index to revealing excerpts of key major media news articles on dozens of engaging topics. And read excerpts from 20 of the most revealing news articles ever published.


Military's Role in a Flu Pandemic
2005-10-05, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2005/10/04/AR20051004006...

President Bush said yesterday that he would consider using the military to "effect a quarantine" in the event of an outbreak of pandemic influenza in the United States. Bush also suggested that putting National Guard troops under federal, rather than state, control might be one part of a response to the "catastrophe" of an avian influenza outbreak. The president raised the same idea after Hurricane Katrina, suggesting that he is considering a greater role for the military in natural disasters. Most public health experts believe it is impossible to entirely isolate neighborhoods, towns, cities or regions during an outbreak of disease. Instead, quarantines today generally refer to a variety of strategies for identifying and limiting the movement of people who are infected with a contagious pathogen or are at high risk. That might include screening travelers for fever and flu symptoms; prohibiting large gatherings of people, including at some workplaces; and requiring that people exposed to infected individuals stay at home until the incubation period for the illness has passed. China took these measures during the outbreak of severe acute respiratory syndrome in 2003.


Bush wants right to use military if bird flu hits
2005-10-04, ABC/Reuters
http://abcnews.go.com/US/wireStory?id=1183192

President George W. Bush asked Congress on Tuesday to consider giving him powers to use the military to enforce quarantines in case of an avian influenza epidemic. "If we had an outbreak somewhere in the United States, do we not then quarantine that part of the country? And how do you, then, enforce a quarantine?" Bush asked at a news conference. The active duty military is currently forbidden from undertaking law enforcement duties by the federal Posse Comitatus Act.

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Republicans See Signs That Pentagon Is Evading Oversight
2005-09-29, New York Times
http://www.nytimes.com/2005/09/29/politics/29intel.html?ex=1285646400&en=55e3...

Republican members of Congress say there are signs that the Defense Department may be carrying out new intelligence activities through programs intended to escape oversight from Congress and the new director of national intelligence. The warnings are an unusually public signal of some Republican lawmakers' concern about overreaching by the Pentagon, where top officials have been jockeying with the new intelligence chief, John D. Negroponte, for primacy in intelligence operations. The lawmakers said they believed that some intelligence activities, involving possible propaganda efforts and highly technological initiatives, might be masked as so-called special access programs, the details of which are highly classified.

Note: To see an ABC report on the Pentagon's past plans to foment terrorism and kill Americans in the US: http://www.WantToKnow.info/010501operationnorthwoods


Military judge bars release of Abu Ghraib photos
2005-09-20, ABC News/Reuters
http://abcnews.go.com/US/wireStory?id=1143363

A day before the trial of Lynndie England, the U.S. soldier who held an Iraqi prisoner on a leash at Abu Ghraib prison, a military judge on Tuesday barred the release of photos which have already been published around the world. England is pictured in some of the most notorious Abu Ghraib photographs. In one image, she points and jeers at the genitals of a naked prisoner; in another, she poses with the father of her baby, Charles Graner, in front of a pyramid of naked Iraqi prisoners. Some photos have not been made public. England is the last of a series of low-level American soldiers convicted of abuses at Abu Ghraib, once a notorious site of torture under Saddam Hussein. Six have pleaded guilty and two others, including Graner, have been convicted at military trial.


IRS plans to allow preparers to sell data
2006-03-21, Philadelphia Enquirer (Philadelphia's leading newspaper)
http://www.philly.com/mld/inquirer/business/14147002.htm

The IRS is quietly moving to loosen the once-inviolable privacy of federal income-tax returns. If it succeeds, accountants and other tax-return preparers will be able to sell information from individual returns - or even entire returns - to marketers and data brokers. The change is raising alarm among consumer and privacy-rights advocates. It was included in a set of proposed rules that the Treasury Department and the IRS published...where the official notice labeled them "not a significant regulatory action." The proposed rules...would require a tax preparer to obtain written consent before selling tax information. Critics call the changes a dangerous breach in personal and financial privacy. They say the requirement for signed consent would prove meaningless for many taxpayers, especially those hurriedly reviewing stacks of documents before a filing deadline.The IRS first announced the proposal in a news release the day before the official notice was published, headlined: "IRS Issues Proposed Regulations to Safeguard Taxpayer Information."


Public Broadcasting Targeted By House
2005-06-10, Washington Post
http://www.washingtonpost.com/wp-dyn/content/article/2005/06/09/AR20050609022...

A House subcommittee voted yesterday to sharply reduce the federal government's financial support for public broadcasting, including eliminating taxpayer funds that help underwrite such popular children's educational programs as "Sesame Street," "Reading Rainbow," "Arthur" and "Postcards From Buster." In addition, the subcommittee acted to eliminate within two years all federal money for the Corporation for Public Broadcasting -- which passes federal funds to public broadcasters -- starting with a 25 percent reduction in CPB's budget for next year, from $400 million to $300 million. In all, the cuts would represent the most drastic cutback of public broadcasting since Congress created the nonprofit CPB in 1967. The CPB funds are particularly important for small TV and radio stations and account for about 15 percent of the public broadcasting industry's total revenue.


FEMA removes — then restores — statistics about drinking water access and electricity in Puerto Rico from website
2017-10-06, Washington Post
https://www.washingtonpost.com/news/post-politics/wp/2017/10/05/fema-removes-...

As of Wednesday, half of Puerto Ricans had access to drinking water and 5 percent of the island had electricity, according to statistics published by the Federal Emergency Management Agency on its Web page. By Thursday morning, both of those key metrics were no longer on the Web page. The statistics that are on the FEMA page, as of Thursday afternoon, include these: There are now 14,000 federal workers on the ground in Puerto Rico and the U.S. Virgin Islands, up from 12,300 earlier in the week. All airports, federally maintained ports and post offices are open. More than 30 miles of roadway have been cleared, up from about 20 miles earlier in the week. About 65 percent of grocery stores have reopened, along with nearly all hospitals and dialysis centers. And 64 percent of wastewater treatment plants are working on generator power. Those statistics illustrate President Trump's assertions that the island is quickly making tremendous strides toward full recovery and that the media have exaggerated the conditions on the ground.

Note: As of Friday afternoon, the Federal Emergency Management Agency is once again reporting the percentage of Puerto Ricans who have access to drinking water and the percentage of the island that has power.


World faces wave of epic debt defaults, fears central bank veteran
2016-01-19, The Telegraph (One of the UK's leading newspapers)
http://www.telegraph.co.uk/finance/financetopics/davos/12108569/World-faces-w...

The global financial system has become dangerously unstable and faces an avalanche of bankruptcies that will test social and political stability, a leading monetary theorist has warned. "The situation is worse than it was in 2007. Our macroeconomic ammunition to fight downturns is essentially all used up," said William White, the Swiss-based chairman of the OECD's review committee and former chief economist of the Bank for International Settlements (BIS). "It will become obvious in the next recession that many of these debts will never be serviced or repaid, and this will be uncomfortable for a lot of people who think they own assets that are worth something," he told The Telegraph on the eve of the World Economic Forum in Davos. The warnings have special resonance since Mr White was one of the very few voices in the central banking fraternity who stated loudly and clearly between 2005 and 2008 that Western finance was riding for a fall, and that the global economy was susceptible to a violent crisis. Combined public and private debt has surged to all-time highs to 185pc of GDP in emerging markets and to 265pc of GDP in the OECD club, both up by 35 percentage points since the top of the last credit cycle in 2007. Mr White, who is also chief author of G30's recent report on the post-crisis future of central banking, said it is impossible know what the trigger will be for the next crisis since the global system has lost its anchor and is inherently prone to breakdown.

Note: Since the bailout in 2008, the percentage of US banking assets held by the big banks has almost doubled. Will big banks move to avert the next financial crisis when crisis has proven so profitable for them? For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the financial industry.


Warren Increases the Pain Factor for Choosing Corporate-Friendly Democrats
2015-09-08, The Intercept
https://theintercept.com/2015/09/08/anti-bank-wing-making-headway-democratic-...

A little-noticed report on candidates for an open spot on the Securities and Exchange Commission (SEC) reaffirms that the reformist wing of the Democratic Party is winning the tactical battle over financial regulatory personnel. Luis Aguilar, one of three Democratic SEC commissioners on the five-member panel, announced he would step down in May. Initially, the White House floated as a replacement Keir Gumbs, who has passed ... from SEC staff to the white-collar corporate law firm Covington & Burling. Covington & Burling counts most major U.S. banks among its clients, and is the home of former Attorney General Eric Holder and several of his top deputies. While at Covington, Gumbs allegedly gave CEOs tutorials on how to avoid disclosing their corporate political spending. He also represented the American Petroleum Institute before the SEC. Months of criticism of both Gumbs and the SEC’s bank-friendly practices created a delay, with the White House agreeing to vet additional candidates. The Obama administration, despite a clear preference for moderates with Wall Street ties for financial regulatory positions, now must consider a far broader range of personnel. By forming a united front, [party reformers make] it more difficult for future Democratic administrations to use Wall Street as a policymaker talent pool. This significantly changes the landscape of the party, regardless of individual candidate views or the desires of Wall Street-aligned donors.

Note: According to the New York Times, the lines between Washington and Wall Street are blurred. Are government officials finally getting serious about about financial industry corruption?


Senator: Compensate Residents Near Site of Atomic Bomb Test
2015-07-16, ABC News/Associated Press
http://abcnews.go.com/Technology/wireStory/atomic-bomb-test-70th-anniversary-...

People who lived near the site of the first atomic bomb test in the New Mexico desert and later developed cancer and other health problems need to be compensated, a U.S. senator said Thursday. The federal government neglected residents of the historic Hispanic village of Tularosa near the Trinity Site, where the weapon was detonated on July 16, 1945, Sen. Tom Udall, D-N.M., said in a speech on the Senate floor on the 70th anniversary of the test. "The rest of the world didn't know about the tragedies that happened in the Tularosa Basin. For a long time, the government denied that anything happened at all," Udall said. "Attention ... must be paid now." Udall met with residents and family members who lived near the test site. He believes they should be included in the federal Radiation Exposure Compensation Act program, which could provide a $50,000 payout. Many of those living near the Trinity Site were not told about the dangers and later suffered rare forms of cancer. Researchers from the National Cancer Institute are studying past and present cancer cases in New Mexico that might be related to the test, [which] took place in southern New Mexico as part of the Manhattan Project, the secretive World War II program that provided enriched uranium for the atomic bomb.

Note: For more along these lines, read how the effects of the atomic bomb were covered up.


Joseph Stiglitz: how I would vote in the Greek referendum
2015-06-29, The Guardian (One of the UK's leading newspapers)
http://www.theguardian.com/business/2015/jun/29/joseph-stiglitz-how-i-would-v...

The rising crescendo of bickering and acrimony within Europe might seem to outsiders to be the inevitable result of the bitter endgame playing out between Greece and its creditors. In fact, European leaders are finally beginning to reveal the true nature of the ongoing debt dispute: it is about power and democracy much more than money and economics. Of course, the economics behind the programme that the "troika" (the European Commission, the European Central Bank, and the International Monetary Fund) foisted on Greece five years ago has been abysmal, resulting in a 25% decline in the country's GDP. I can think of no depression, ever, that has been so deliberate and had such catastrophic consequences: It is startling that the troika has refused to accept responsibility for any of this or admit how bad its forecasts and models have been. But what is even more surprising is ... the troika is still demanding that Greece achieve a primary budget surplus (excluding interest payments) of 3.5% of GDP by 2018. Economists around the world have condemned that target as punitive, because aiming for it will inevitably result in a deeper downturn. Indeed, even if Greece's debt is restructured beyond anything imaginable, the country will remain in depression if voters there commit to the troika's target. Almost none of the huge amount of money loaned to Greece has actually gone there. It has gone to pay out private-sector creditors – including German and French banks. Greece has gotten but a pittance, but it has paid a high price to preserve these countries' banking systems.

Note: Joseph E. Stiglitz, a Nobel laureate in economics, is a professor at Columbia University. Note that as a result of the troika's austerity measures instituted five years ago, Greece’s rate of youth unemployment now exceeds 60%. For more along these lines, see concise summaries of deeply revealing news articles on government corruption from reliable major media sources.


At least 19 UK firms under investigation for an alleged conspiracy to make $20bn of dirty money seem legitimate
2014-10-15, The Independent (One of the UK's leading newspapers)
http://www.independent.co.uk/news/business/news/the-great-british-money-laund...

Front companies in the UK are at the heart of an investigation into ... a conspiracy to make $20bn (Ł12.5bn) of dirty money look legitimate. The funds are believed to have come from major criminals and corrupt officials around the world. An investigation by The Independent and the Organised Crime and Corruption Reporting Project, an NGO, has identified dozens of ... front companies in the UK which carried out massive phoney business deals between themselves. These front companies then sued each other in courts in Moldova, demanding the repayment of hundreds of millions of pounds of loans. A judge in Moldova ... would rule in favour of the claimant company, which would then receive the cash from the other front firm – with an all-important signed court document ordering the debt to be paid. But rather than being transferred from one legitimate British company to another, the funds were being routed from Russia, where gangs from around the world go to launder money from corruption, drug dealing, prostitution and people smuggling. Their tainted money would first be put into the UK front companies’ accounts in Moldova before being transferred to another bank in Latvia. This final stage adds to the dirty money’s “clean” appearance. The UK bank accounts involved include ones at UBS in London, HSBC, RBS, NatWest and Citibank.

Note: Here is a diagram of this complex international money laundering scam. For more along these lines, see these concise summaries of deeply revealing articles about widespread corruption in government and banking and finance.


Syria-to-Ukraine Wars Send U.S. Defense Stocks to Records
2014-09-25, Bloomberg
http://www.bloomberg.com/news/2014-09-25/syria-to-ukraine-wars-send-u-s-defen...

Led by Lockheed Martin Corp. (LMT), the biggest U.S. defense companies are trading at record prices as shareholders reap rewards from escalating military conflicts around the world. Investors see rising sales for makers of missiles, drones and other weapons as the U.S. hits Islamic State fighters in Syria and Iraq, said Jack Ablin, chief investment officer at Chicago-based BMO Private Bank. “As we ramp up our military muscle in the Mideast, there’s a sense that demand for military equipment and weaponry will likely rise,” said Ablin, who oversees $66 billion including Northrop Grumman Corp. (NOC) and Boeing Co. (BA) shares. “To the extent we can shift away from relying on troops and rely more heavily on equipment -- that could present an opportunity.” Bombardments of Islamic State strongholds added to tensions this year that include U.S.-led sanctions on Russia for backing Ukrainian rebels. The U.S. also is the biggest foreign military supplier to Israel, which waged a 50-day offensive against the Hamas Islamic movement in the Gaza Strip. A Bloomberg Intelligence gauge of the four largest Pentagon contractors ... rose 19 percent this year through yesterday, outstripping the 2.2 percent gain for the Standard & Poor’s 500 Industrials Index. Lockheed, the world’s biggest defense company, reached an all-time high of $180.74 on Sept. 19, when Northrop, Raytheon Co. (RTN) and General Dynamics Corp. (GD) also set records. That quartet and Chicago-based Boeing accounted for about $105 billion in federal contract orders last year. U.S. lawmakers including Representative Peter King, a New York Republican, have suggested that the new global threats could prompt Congress to reconsider planned reductions in defense spending.

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


U.S. to pay Navajo Nation $554 million in largest settlement with single Indian tribe
2014-09-24, Washington Post
http://www.washingtonpost.com/world/national-security/us-to-pay-navajo-nation...

In the largest settlement with a single American Indian tribe, the Obama administration will pay the Navajo Nation $554 million to settle claims that the U.S. government has mismanaged funds and natural resources on the Navajo reservation for decades. The settlement, to be signed in Window Rock, Ariz., on Friday, resolves a long-standing dispute between the Navajo Nation and the U.S. government, with some of the claims dating back more than 50 years. The sprawling Navajo reservation, located in parts of Arizona, Utah and New Mexico, is the largest and most populous Indian reservation, with 14 million acres of trust lands, which are leased for farming, grazing, and oil, gas and other mineral extraction. The land is also leased for businesses, rights-of-way, easements and housing. “The Navajo Nation has worked tirelessly for many years to bring this issue to a close,” said Ben Shelly, president of the Navajo Nation. “After a long, hard-won process, I am pleased that we have finally come to a resolution on this matter to receive fair and just compensation for the Navajo Nation.” Shelly said the tribe will host town hall meetings across the Navajo Nation to decide how the funds can be used or invested. Although the settlement marks the largest ever with one tribe, the Obama administration has made several other multimillion-dollar agreements with tribes since 2009 to settle long-standing grievances by Native Americans. Along with the Navajo Nation, the administration has negotiated settlements resulting in a total of $2.61 billion paid to 80 tribes since 2010 for tribal trust accounting and trust management claims.

Note: Explore a treasure trove of concise summaries of incredibly inspiring news articles which will inspire you to make a difference.


Man who filmed NYPD choke hold video arrested on weapons charges
2014-08-03, Reuters
http://www.reuters.com/article/2014/08/03/us-usa-new-york-chokehold-idUSKBN0G...

A man who filmed a New York City police officer use a choke hold on a suspect who later died has been arrested on weapons charges, law enforcement officials said on [August 3]. Ramsey Orta, 22, and a 17-year-old female were spotted on [August 2] outside a known drug location on Staten Island by narcotics officers who saw Orta put a handgun in his companion's waistband, the New York Police Department said. Orta, who has a previous criminal conviction, faces two charges of criminal possession of a weapon. At some point during his arrest, Orta told officers, "You're just mad because I filmed your boy," an NYPD spokeswoman said. The comment was apparently in reference to the July 17 cellphone video shot by Orta during the arrest of Eric Garner, who was placed in a choke hold by a police officer while being detained for peddling illegal cigarettes. Garner later died, and the New York City medical examiner ruled the his death a homicide. Footage of the incident circulated widely on the Internet, triggering outrage and raising questions about police tactics and use of force. The choke hold is banned by the NYPD, which says it is investigating why the maneuver was used.

Note: For more on this, see concise summaries of deeply revealing government corruption news articles from reliable major media sources.


Keith Alexander Unplugged: on Bush/Obama, 1.7 million stolen documents
2014-05-08, The Intercept
https://firstlook.org/theintercept/2014/05/08/keith-alexander-unplugged-busho...

Back in December, 60 Minutes broadcast a now-notorious segment of pure access journalism in which they gullibly disseminated one false NSA claim after the next. The program claimed that Snowden “is believed to still have access to 1.5 million classified documents he has not leaked”. Ever since then, that Snowden “stole” 1.7 or 1.8 million documents from the NSA has been repeated over and over again by US media outlets as verified fact. The Washington Post‘s Walter Pincus, citing an anonymous official source, purported to tell readers that “among the roughly 1.7 million documents he walked away with — the vast majority of which have not been made public — are highly sensitive, specific intelligence reports”. Reuters frequently includes in its reports the unchallenged assertion that “Snowden was believed to have taken 1.7 million computerized documents.” In fact, that number is and always has been a pure fabrication, as even Keith Alexander admits. The claimed number has changed more times than one can count: always magically morphing into randomly chosen higher and scarier numbers. The reality, in the words of the General, is that the US Government ”really [doesn't know] what he actually took with him” and they ”don’t have an accurate way of counting”. All they know is how many documents he accessed in his entire career at NSA, which is a radically different question from how many documents he took. But that hasn’t stopped American media outlets from repeatedly affirming the inflammatory evidence-free claim that Snowden took 1.7 million documents.

Note: For more on the realities of intelligence agency operations, see the deeply revealing reports from reliable major media sources available here.


Elizabeth Warren: Don’t cut Social Security. Expand it!
2013-11-18, Washington Post blog
http://www.washingtonpost.com/blogs/plum-line/wp/2013/11/18/elizabeth-warren-...

[U.S. Senator] Elizabeth Warren is emerging as a kind of spokeswoman for the new economic populism that many Democratic activists want the party to embrace heading into 2014 and 2016. [A] speech that Warren [delivered] on the floor of the Senate suggests [that] the push to expand Social Security could become a key issue in the argument over the Democratic Party of the future. She strongly endorsed the push to boost Social Security benefits — in keeping with Senator Tom Harkin’s proposal to do the same: “Social Security isn’t the answer to all of our retirement problems. We need to find ways to tackle the financial squeeze that is crushing our families. We need to help families start saving again. We need to make sure that more workers have access to better pensions. The absolute last thing we should be doing is talking about cutting back on Social Security. The absolute last thing we should do in 2013 – at the very moment that Social Security has become the principal lifeline for millions of our seniors — is allow the program to begin to be dismantled inch by inch. Right now, more people than ever are on the edge of financial disaster once they retire — and the numbers continue to get worse. That is why we should be talking about expanding Social Security benefits — not cutting them. Senator Harkin from Iowa, Senator Begich from Alaska, Senator Sanders from Vermont, and others have been pushing hard in that direction. Social Security is incredibly effective, it is incredibly popular, and the calls for strengthening it are growing louder every day.”

Note: For more on government corruption, see the deeply revealing reports from reliable major media sources available here.


Could Elizabeth Warren beat Hillary Clinton?
2013-11-11, Washington Post blog
http://www.washingtonpost.com/blogs/wonkblog/wp/2013/11/11/could-elizabeth-wa...

The question in the background of Noam Scheiber's exploration of whether Elizabeth Warren could challenge Hillary Clinton in 2016 is whether, come 2015, Democrats will care very much about cracking down harder on Wall Street. An issue-based challenger needs two things to pose a serious threat to a front-runner. One is an issue that differentiates them from the front-runner. The other is for that issue to be foremost in the minds of voters. Scheiber points out that Warren's background isn't just Wall Street reform. It's protecting the middle class. The Two-Income Trap was a seminal book in defining the mounting pressures on working Americans. And Warren has long tried to protect that dimension of her work from being eclipsed by her unexpected turn as a finreg rockstar. But concern for the middle class doesn't, by and large, differentiate her from Clinton. Clinton, like Warren, believes in higher taxes on the rich and universal health care and higher-education costs and universal pre-k and so on. The danger for Clinton is if Warren is able to persuade Democrats that cracking down on Wall Street reform is the key to helping the middle class or -- perhaps more plausibly -- opposing inequality. On a policy level, that's a harder case to make. But on an emotional, who's-on-your-side level, it might work.

Note: For an excellent video showing the courage and forthrightness of Elizabeth Warren, click here. For more on government corruption, see the deeply revealing reports from reliable major media sources available here.


Senate rejects effort to strip detainee provision
2011-11-29, Boston Globe/Associated Press
http://articles.boston.com/2011-11-29/news/30455506_1_defense-bill-military-c...

The Senate on Tuesday rejected an effort to strip divisive provisions from a defense bill that deal with the capture and handling of suspected terrorists. “The provisions would dramatically change broad counterterrorism efforts by requiring law enforcement officials to step aside and ask the Department of Defense to take on a new role they are not fully equipped for and do not want,’’ said Sen. Mark Udall, D-Colo., who added that the legislation would make the military “police, judge and jailer.’’ His amendment would have taken out the sections on detainees and instead called for congressional hearings with Pentagon and administration officials on the issue. The bill would require military custody of a suspect deemed to be a member of al-Qaida or its affiliates. The vote came shortly after the weekly Republican and Democratic policy luncheons. A guest at the Republican session was former Vice President Dick Cheney, an advocate for harsh interrogation tactics against suspected U.S. enemies during his two terms in office. Defense Secretary Leon Panetta and FBI Director Robert Mueller have spelled out their opposition in letters to lawmakers. Mueller said Monday that because the legislation applies to people detained in the United States, it could disrupt ongoing international terrorism investigations.

Note: The implications of the Senate's vote to authorize the US military to carry out domestic arrest and imprisonment of US citizens have hardly been reported on by the major media. The defense authorization bill passed by the Senate undermines protections established by the Bill of Rights and the Posse Comitatus Act against use of US military forces in domestic control and arrest. The ACLU has issued an analysis; for further analysis of the implications of this legislation, click here and here.


Economies in peril
2011-11-15, MSNBC
http://video.msnbc.msn.com/dylan-ratigan-show/45311653

Lazy people on social services, a spree of borrowed money. That's how the Greek people are being portrayed. But like Wall Street, the streets of Athens are like a crime scene. The Greek people [are] victims of a fraud and cover-up. Greg Palast is a renowned investigative reporter and author of the new book Vultures' Picnic: In Pursuit of Petroleum Pigs, Power Pirates, and High-Finance Carnivores. Greg, how is it that a bank can lend money to a country that has an economy smaller than Dallas, at a level that is this big? Palast: Greece is a crime scene. Goldman Sachs, beginning in 2001 [or] 2002 ... cut a deal to secretly take euros out of the Greek treasury, convert them to yen, convert them back to euros. This is through some fancy derivative action. Goldman takes a multi-billion dollar loss. The Greek government gets a gain. There's no deficit in the Greek treasury. It's only 3%. The Greek economy looks good. Goldman doesn't take billions of dollars in losses. It's a fraud. They've cut a secret deal to get that money back and then some. Goldman charged about $300, $400 million to pull off this scam.

Note: For lots more from reliable sources on the chicaneries of central banks and financial corporations, click here. For other powerful reporting by journalist Greg Palast, click here.


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