Media ArticlesExcerpts of Key Media Articles in Major Media
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.
Lending by the banking industry fell by $587 billion, or 7.5 percent, in 2009, the largest annual decline since the 1940s, as the number of troubled financial institutions rose sharply, the Federal Deposit Insurance Corp. [has] reported. The FDIC considered 702 banks to be in some danger of failing as of the end of 2009, more than double the number at the beginning of the year. [FDIC Chairman Sheila C.] Bair said that the vast majority of the lending decline was the result of cutbacks by the nation's largest banks, which have tightened qualification standards for borrowers and increased the proportion of money that they hold in reserve against unexpected losses. The decline in lending is a looming issue as the economy begins to recover. But for the recovery to continue, for businesses to expand and employment to grow, lending must begin to expand, too. The decline also has become a major political issue amid broad public anger that the federal rescue of the banking industry has restored profitability but not the flow of loans. The FDIC [said] that the nation's 8,012 banks posted an aggregate profit of $12.5 billion in 2009. The largest banks accounted for most of those profits as a growing number of smaller banks have struggled to survive losses on commercial real estate loans.
Note: Wasn't the main purpose of the huge stimulus packages given to banks to increase lending? Where did those trillions go? For a treasure trove of revealing reports from major media sources on the realities of the banking bailouts that were supposedly intended to increase lending, click here.
An influential lobby group is asking the US government to basically consider open source as the equivalent of piracy - or even worse. It turns out that the International Intellectual Property Alliance ... has requested with the US Trade Representative to consider countries like Indonesia, Brazil and India for its "Special 301 watchlist" because they use open source software. What's Special 301? It's a report that examines the "adequacy and effectiveness of intellectual property rights" around the planet - effectively the list of countries that the US government considers enemies of capitalism. It often gets wheeled out as a form of trading pressure - often around pharmaceuticals and counterfeited goods - to try and force governments to change their behaviours. Most FOSS [Free Open Source Software] isn't state-owned: it just takes price elasticity to its logical conclusion and uses free as a stick to beat its competitors with (would you ever accuse Google, which gives its main product away for free, of being anti-capitalist?). Governments don't even need to pass legislation. Even a recommendation can be enough. Last year the Indonesian government sent around a circular to all government departments and state-owned businesses, pushing them towards open source. But the IIPA suggested that Indonesia deserves Special 301 status because encouraging (not forcing) such takeup "weakens the software industry" and "fails to build respect for intellectual property rights."
The world of modern eavesdropping, or signals intelligence ... for many years ... operated in the shadows. The Puzzle Palace, the 1983 best seller by James Bamford that remains the benchmark study of the N.S.A., first pulled back the curtain to provide a glint of unwanted sunlight on the place. As each operation has come to light, an anxious public has wanted to know whether this powerful new surveillance model was undermining traditional notions of privacy and civil liberties. Just whom is the government watching? And who is watching the watchers? It has been left to outsiders — journalists, authors, civil rights advocates and privacy groups — to keep tabs on the watchers and to bring public scrutiny to once-secret programs. For the spymasters, this spotlight was decidedly unwelcome. Mike McConnell, a director of intelligence in the Bush administration, ... is one of the recurring characters in The Watchers: The Rise of America’s Surveillance State by Shane Harris. Mr. Harris, with some success, does what Mr. McConnell and others in the intelligence world have found so objectionable: he watches the watchers. At its best The Watchers provides an insightful glimpse into how Washington works and how ideas are marketed and sold in the back rooms of power, whether the product being peddled is widgets or a radical model for intelligence gathering.
Note: For more insights into the activities of Big Brother, click here.
A lingering technical question about the Sept. 11 terrorist attacks still haunts some, and it has political implications: How did 200,000 tons of steel disintegrate and drop in 11 seconds? A thousand architects and engineers want to know, and are calling on Congress to order a new investigation into the destruction of the Twin Towers and Building 7 at the World Trade Center. "In order to bring down this kind of mass in such a short period of time, the material must have been artificially, exploded outwards," says Richard Gage, a San Francisco architect and founder of the nonprofit Architects & Engineers for 9/11 Truth. Mr. Gage, who is a member of the American Institute of Architects, managed to persuade more than 1,000 of his peers to sign a new petition requesting a formal inquiry. "The official Federal Emergency Management [Agency] and National Institute of Standards and Technology reports provide insufficient, contradictory and fraudulent accounts of the circumstances of the towers' destruction. We are therefore calling for a grand jury investigation of NIST officials," Mr. Gage adds. "The implications are enormous."
Note: To read statements questionig the official account of the events of 9/11 by hundreds of professors, government officials and professionals, click here and here. For our 9/11 Information Center, click here.
Doctors have known that low levels of vitamin D are linked to certain kinds of cancers as well as to diabetes and asthma, but new research also shows that the vitamin can kill human cancer cells. The results fall short of an immediate cancer cure, but they are encouraging, medical professionals say. JoEllen Welsh, a researcher with the State University of New York at Albany, has studied the effects of vitamin D for 25 years. Part of her research involves taking human breast cancer cells and treating them with a potent form of vitamin D. Within a few days, half the cancer cells shriveled up and died. Welsh said the vitamin has the same effect as a drug used for breast cancer treatment. "Vitamin D enters the cells and triggers the cell death process," she [said]. "It's similar to what we see when we treat cells with Tamoxifen," a drug used to treat breast cancer. The vitamin's effects were even more dramatic on breast cancer cells injected into mice. After several weeks of treatment, the cancer tumors in the mice shrank by an average of more than 50 percent. Some tumors disappeared. Similar results have been achieved on colon and prostate cancer tumors in mice.
Note: For key reports from reliable sources on hopeful cancer cures, click here. And for a most excellent documentary on alternative cancer cures, click here.
Thirty-three-year-old Salman Khan recently quit his job as a hedge fund analyst to devote himself to an unpaid job teaching math on the Internet. He has posted 1,200 lessons on YouTube, which appear on an electronic blackboard, and range in subject from basic addition and advanced calculus to science and finance. And they are free. Khan lives in California's Silicon Valley with his wife, a rheumatologist in training at Stanford, and their new baby. He got the idea for Khan Academy four years ago, when he taught a young cousin how to convert kilograms to grams. Many American students have trouble with math, and studies show they lag behind their counterparts in Asia and Europe in both math and science. With Khan's help, his cousin got good at math, and he eventually had a new career tapping into anxieties around the world. Now he records his lessons from a converted closet in the back of his bedroom. Internet instruction, be it the Khan Academy or taped university lectures, could revolutionize education in remote Third World locations, where access to high-quality instruction is frequently unavailable.
Note: To visit the Khan Academy website, click here.
Iceland, where the journalists run free. Iceland is considering a new vision: to become a haven for journalists and publishers by offering some of the most aggressive protections for free speech and investigative journalism in the world. The proposal, the Icelandic Modern Media Initiative, combines in a single piece of legislation provisions from around the world: whistle-blower laws and rules about Internet providers from the United States; source protection laws from Belgium; freedom of information laws from Estonia and Scotland, among others; and New York State’s law to counteract “libel tourism,” the practice of suing in courts, like Britain’s, where journalists have the hardest time prevailing. “We would become the inverse of a tax haven,” said Birgitta Jonsdottir, a member of Parliament and a sponsor of the initiative. “They are trying to make everything opaque. We are trying to make it transparent.” For many observers, this legislation represents a direct reversal of recent Icelandic history. Secret dealings by a few banks in Iceland, combined with a lack of regulation and oversight, led to calamitous debts that were nine times the gross domestic product. In response, Iceland would institutionalize the most aggressive sunshine laws possible.
More than eight years after anthrax-laced letters killed five people and terrorized the country, the F.B.I. [has] closed its investigation, adding eerie new details to its case that the 2001 attacks were carried out by Bruce E. Ivins, an Army biodefense expert who killed himself in 2008. A 92-page report, which concludes what by many measures is the largest investigation in F.B.I. history, laid out the evidence against Dr. Ivins. The report disclosed for the first time the F.B.I.’s theory that Dr. Ivins embedded in the notes mailed with the anthrax a complex coded message, based on DNA biochemistry. Whether the voluminous documentation will convince skeptics about Dr. Ivins’s guilt was uncertain. Representative Rush D. Holt, a New Jersey Democrat and a physicist who has sharply criticized the bureau’s work, said the case should not have been closed. He said the F.B.I. report laid out “barely a circumstantial case” that “would not, I think, stand up in court.” Some of Dr. Ivins’s colleagues at the United States Army Medical Research Institute of Infectious Diseases in Frederick, including several supervisors who knew him well, publicly rejected the F.B.I.’s conclusion. They said he was eccentric but incapable of such a diabolical act, and they questioned whether he could have produced the deadly powder with the equipment in his lab.
Note: The FBI's "closure" of its anthrax investigation won't put an end to the unanswered questions about who the perpetrators of the attacks were. As described in this key Wall Street Journal report, the specific formulation of the anthrax used in the attacks was beyond Ivins' capabilities.
Law enforcement is tracking Americans' cell phones in real time—without the benefit of a warrant. Amid all the furor over the Bush administration's warrantless wiretapping program a few years ago, a mini-revolt was brewing over another type of federal snooping that was getting no public attention at all. Federal prosecutors were seeking what seemed to be unusually sensitive records: internal data from telecommunications companies that showed the locations of their customers' cell phones—sometimes in real time, sometimes after the fact. Prosecutors "were using the cell phone as a surreptitious tracking device," said Stephen W. Smith, a federal magistrate in Houston. "And I started asking the U.S. Attorney's Office, 'What is the legal authority for this? What is the legal standard for getting this information?'" Those questions are now at the core of a constitutional clash between President Obama's Justice Department and civil libertarians alarmed by what they see as the government's relentless intrusion into the private lives of citizens. There are numerous other fronts in the privacy wars—about the content of e-mails, for instance, and access to bank records and credit-card transactions. The Feds now can quietly get all that information. But cell-phone tracking is among the more unsettling forms of government surveillance, conjuring up Orwellian images of Big Brother secretly following your movements through the small device in your pocket.
Note: For many key reports from major media sources on the disturbing trend toward increasing government and corporate surveillance, click here.
Thousands of UFOs have been spotted in the last 20 years around the UK, according to newly released documents. More than 6,000 pages of reports describe people's experiences with unidentified flying objects between 1994 and 2000. Details have been released under a three-year project between the Ministry of Defence and The National Archives. The reports detail how objects of various shapes and sizes have been witnessed flying over a range of locations. Some drawings by witnesses have also been released. Included in the latest release is a letter from senior MoD official Ralph Noyes, in which he describes seeing a film of UFOs captured by RAF fighter pilots in 1956. Mr Noyes claims the footage was shown at a secret underground screening arranged for air defence staff at the MoD in 1970. Experts believe the records highlight how shapes of reported UFOs have changed over the last few decades. Many reports in this latest file describe aircraft as big, black and triangular in shape with lights along the edges, whereas the predominant form in the 1940s to 1950s was saucer or disc-shaped. The files are available to download for free for a month from the National Archives website.
Note: For a concise summary of key testimony on UFO sightings by highly-credible government and military officials, click here. For astonishing media reports revealing the existence of UFOs, click here.
The [IRS] reports that the nation's 400 highest-earning households reported an average income of $345 million in 2007 — up 31% from 2006 — and that their average tax bill fell to a 15-year low. Bloomberg writes that the elite 400's average income more than doubled that year from $131.1 million in 2001, the year Congress adopted tax cuts urged by then-President George W. Bush. Each household in the top 400 of earners paid an average tax rate of 16.6 percent, the lowest since the agency began tracking the data in 1992. Their average effective tax rate was about half the 29.4 percent in 1993, the first year of President Bill Clinton's administration. The top 400 earners received a total $138 billion in 2007, up from $105.3 billion a year earlier. On an inflation-adjusted basis, their average income grew almost fivefold since 1992. Almost three-quarters of the highest earners' income was in capital gains and dividends taxed at a 15 percent rate set as part of Bush-backed tax cuts in 2003.
Note: For key reports from major media sources on income inequality, click here. And for a powerful summary of 10 top corporations which avoided taxes in most egregious ways, see the excellent list compiled by independent U.S. Senator Bernie Sanders at this link.
In the world of energy, the Holy Grail is a power source that's inexpensive and clean, with no emissions. Over 100 start-ups in Silicon Valley are working on it. One of them, Bloom Energy, is about to make public its invention: a little power-plant-in-a-box they want to put literally in your backyard. You'll generate your own electricity with the box and it'll be wireless. The idea is to one day replace the big power plants and transmission line grid. K.R. Sridhar ... says he knows it works because he originally invented a similar device for NASA. He really is a rocket scientist. He invented a new kind of fuel cell, which is like a very skinny battery that always runs. Sridhar feeds oxygen to it on one side, and fuel on the other. The two combine within the cell to create a chemical reaction that produces electricity. There's no need for burning or combustion, and no need for power lines from an outside source. "It's cheaper than the grid, it's cleaner than the grid." Twenty large, well-known companies have quietly bought and are testing Bloom boxes in California. The first customer was Google. Four units have been powering a Google datacenter for 18 months. They use natural gas, but half as much as would be required for a traditional power plant. John Donahoe, eBay's CEO, says its five boxes were installed nine months ago and have already saved the company more than $100,000 in electricity costs. eBay's boxes run on bio-gas made from landfill waste, so they're carbon neutral. "In five to ten years, we would like to be in every home." [Sridhar] said a unit should cost an average person less than $3,000.
Note: To watch the fascinating 60 Minutes video clip of this amazing invention, click here. For other CBS videos clips on the Bloom Box, click here. For astounding news on other new energy sources and inventions, click here and here.
The 400 highest-earning U.S. households reported an average of $345 million in income in 2007, up 31 percent from a year earlier, IRS statistics show. The average tax rate for the households fell to the lowest in almost 20 years. The figures for 2007, the last year of an economic expansion, show that the average income reported by the top 400 earners more than doubled from $131.1 million in 2001. That year, Congress adopted tax cuts urged by then-President George W. Bush that Democrats say disproportionately benefit the wealthy. Each household in the top 400 of earners paid an average tax rate of 16.6 percent, the lowest since the agency began tracking the data in 1992. The statistics underscore “two long-term trends: that income at the very top has exploded and their taxes have been cut dramatically,” said Chuck Marr, director of federal tax policy at the Center on Budget and Policy Priorities, a Washington-based research group that supports increasing taxes on high-income individuals. The top 400 earners received a total $138 billion in 2007, up from $105.3 billion a year earlier. On an inflation-adjusted basis, their average income grew almost fivefold since 1992.
Note: BusinessWeek for some reason removed this article, though it is still available on the Bloomberg website at this link. For lots more on income inequality from reliable sources, click here.
Flying Toblerones, mysterious illnesses and silky-white substances are among hundreds of close encounters described in previously top-secret files released by the Ministry of Defence (MoD). More than 6,000 pages of material spanning from 1994 to 2000 holds hundreds of other-worldly experiences with unidentified flying objects (UFOs) and apparent aliens across Britain. Aircraft of all shapes and sizes have been witnessed flying over a wide range of locations. One man told police he was physically sick and developed a ''skin condition'' after an eerie ''tube of light'' enveloped his car in Ebbw Vale, in Wales, at 10.40pm on January 27 1997. Other highlights include: -- A man arrived at his Birmingham home at 4am on March 20, 1997, to discover an illuminated blue triangle hovering over his garden. The craft shot off leaving behind a ''silky-white'' substance on the tree-tops, which he collected in a jam-jar. -- A UFO sighted by Boston and Skegness police, in Lincolnshire, was captured on film. The police reported the sighting to the coastguard, who in turn alerted ships in North Sea - where a crew saw more UFOs. -- A letter from senior MoD official Ralph Noyes in which he describes seeing a film of UFOs captured by RAF fighter pilots in 1956. Mr Noyes claims the footage was shown at a secret underground screening arranged for Air Defence staff at the MoD Main Building in 1970.
Note: For a concise summary of key testimony on UFO sightings by highly-credible government and military officials, click here. For astonishing media reports revealing the existence of UFOs, click here. And for an excellent database compiled by a British police officer of intriguing UFO sightings reported by police, click here.
Former New York Police Commissioner Bernard Kerik, once selected to the U.S. Department of Homeland Security, was sentenced ... to four years in prison for tax evasion and lying to White House officials. Kerik, 54, who as head of the city's police worked closely with former Mayor Rudolph Giuliani at the time of the September 11, 2001 attacks, pleaded guilty to the federal charges in November. A former police detective, and once Giuliani's driver, Kerik headed the New York City jail system before taking charge of the police department in 2000. His career began to unravel during background checks when President George W. Bush nominated him in 2004 to become Secretary of Homeland Security. Kerik withdrew, but his legal troubles later embarrassed Giuliani in his unsuccessful bid for the 2008 Republican presidential nomination. Along with pleading guilty to lying and evading taxes, Kerik admitted receiving apartment renovations from a construction firm suspected of organized crime ties and helping the company win city contracts. The four-year sentence imposed ... exceeded the sentencing guidelines of less than three years, as laid out in Kerik's plea deal, but fell far short of the maximum possible term of 61 years.
Note: The NY City chief of police at the time of 9/11 is now in jail. The former head of the NASDAQ stock exchange, Bernie Madoff, is now in jail. Do you think there is corruption at the highest levels of government? How many more have engaged in gross corruption and gotten away with it? To see how deep it goes, click here.
Before the words "whole grain" and "organic" became part of Americans' everyday vocabulary, Bob Moore knew the importance of healthful eating. In 1978, he started Bob's Red Mill Natural Foods, as a small family-run business in Oregon selling stone mill-ground whole grains. The company has since grown into a multi-million dollar business that sells more than 400 whole grain products including flours, hot cereals, and organic and gluten-free products. Moore's work is a way of life and his employees are a second family, which is why he announced this week that he's handing over the keys to his 209 employees. Moore said he's gotten countless buy-out offers over the years, but he couldn't envision selling the business to a stranger. "It's the only business decision that I could make," he said. "I don't think there's anybody worthy to run this company but the people who built it. I have employees with me right now that have been with me for 30 years. They just were committed to staying with me now and they're going to own the company." The company will now be run by an Employee Stock Ownership Plan (ESOP) -- the idea being that a company's stock is put in a retirement plan for its employees, but the stock is never held or bought directly by individuals. When a vested employee retires, he can pull out money from the trust.
As Newton resident Lisa Dodson, a Boston College sociology professor in the thick of a research project, was interviewing a grocery story manager in the Midwest about the difficulties of the low-income workers he supervised, he asked her a curious question: “Don’t you want to know what this does to me too?’’ She did. And so the manager talked about the sense of unfairness he felt as a supervisor, making enough to live comfortably while overseeing workers who couldn’t feed their families on the money they earned. That inequality, he told her, tainted his job, making him feel complicit in an unfair system that paid hard workers too little to cover basic needs. The interview changed the way Dodson talked with other supervisors and managers of low-income workers, and she began to find that many of them felt the same discomfort as the grocery store manager. And many went a step further, finding ways to undermine the system and slip their workers extra money, food, or time needed to care for sick children. She was surprised how widespread these acts were. In her new book, The Moral Underground: How Ordinary Americans Subvert an Unfair Economy, she called such behavior “economic disobedience." Dodson concluded that [many] were following the American tradition of civil disobedience - this time, against the economy - and creating a “moral underground."
Bailouts and bonuses have many Americans frustrated with big banks. Some consumers think these giant institutions have lost touch with customers and basic good business practices. They're so fed up that they're holding these behemoths accountable by moving their money to community banks. Arianna Huffington of the Huffington Post is spearheading a campaign called Move Your Money, which encourages people to move from the banking giants to smaller community banks. "There's a lot of anger about the way banks have acted," says Huffington. "It's a total lack of empathy and concern." The group's Facebook page has more than 27,000 fans. "I think it's already an enormous success," says Huffington. "The fact that people are considering it; the fact that people are doing it; the fact that people are feeling empowered."
Note: Please consider going local and supporting credit unions and community banks. For information on moving your checking and savings accounts from profit oriented banks to membership run credit unions, click here and here.
[Sen. Evan] Bayh dealt a triple blow to his Democratic Party and to President Obama with his announcement ... that he is sick of the partisanship in Washington and will not seek a third term. But it was as much Bayh's stated reasons for leaving as the consequences that stirred controversy. "If in fact he believed that the Senate was broken and dysfunctional, then he had a responsibility to stand and man the pumps rather than run for the lifeboat," said Ross Baker, a political scientist at Rutgers University. Baker said Bayh's depiction of Congress overstates the case that lawmakers are dealing with something unprecedented in American politics. "I won't say it's cyclical, but from time to time . . . even the Senate goes berserk," he said. He cited the red-baiting era of the early 1950s, saying, "The McCarthy period was a terrible time, in which reputations were ruined, senators attacked each other and questioned each other's motives." Bayh has $13 million in his campaign account and, despite a determined effort by the GOP to mount a serious challenge to his reelection prospects, was leading in early polls. His decision could be taken by other Democrats as one more piece of evidence that the energy so far this year is on the right.
Note: If the people of the U.S. stopped falling for the polarization agendas of the power elite and fighting against each other, maybe the elected representatives would start working together for the good of all.
Embroiled in its debt crisis and looking for any avenue to bolster tax receipts [Greece] has done the unthinkable – it has made [cash, in euros] illegal for transactions over 1,500 euros. Of course, larger credit- or debit-based electronic transactions over 1,500 will still be denominated in euros. However, electronic transactions clearly require infrastructure and limit personal freedom. From Reuters: “From 1. Jan. 2011, every transaction above 1,500 euros between natural persons and businesses, or between businesses, will not be considered legal if it is done in cash. Transactions will have to be done through debit or credit cards.” It seems wrong for the Greek state to dictate how cash euros can be used. In fact, it’s surprising that the EU-endorsed plan would allow Greece to control euro usage at that level. Despite the fact that the reform bill is a piece of an approved EU plan to help improve Greek tax revenue and reduce deficit, it seems to go too far in curtailing personal liberty. How much is a government willing to punish its own citizens for using “too much” of their own legal tender in an otherwise legal transaction?
Note: What gives any government the right to limit cash transactions? And why is the EU approving this unusual measure? Could this be part of a hidden agenda to push the public towards a cashless society?
Important 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.