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.
As many as 100 detainees at the prison at Guantánamo Bay, Cuba, could end up held without trial on American soil, Defense Secretary Robert M. Gates suggested Thursday, a situation that he acknowledged would create widespread if not unanimous opposition in Congress. The estimate was the most specific yet from the Obama administration about how many of the 241 prisoners at Guantánamo could not be safely released, sent to other countries or appropriately tried in American courts. Mr. Gates said discussions had started this week with the Justice Department about determining how many of the Guantánamo detainees could not be sent to other countries or tried in courts. He did not say which detainees might be in that group, but independent experts have said it probably would include terrorism suspects whom the military has not yet brought charges against, among them detainees from Yemen and the Qaeda figure Abu Zubaydah, who was subjected to brutal interrogation in secret prisons run by the Central Intelligence Agency. He did not say ... under what law they would be held. The Obama administration is debating how to establish a legal basis for incarcerating detainees deemed too dangerous to be released but not appropriate to be tried because of potential problems posed by their harsh interrogations, the evidence against them or other issues. Mr. Gates said he had asked for $50 million in supplemental financing in case a facility needed to be built quickly for the detainees.
Note: Ironically, it would seem from these plans revealed by Gates that closing the prison in Guantanamo is going to be used as the pretext to establish indefinite detention, without the right of habeas corpus, on American soil. But the reason for the widespread demand to close the prison is precisely to end such detentions! Do they think no one will notice? For many revealing reports from reliable sources on government attempts to erode civil liberties, click here.
After studying a cockatoo that grooves to the Backstreet Boys and about 1,000 YouTube videos, scientists say they've documented for the first time that some animals "dance" to a musical beat. The results support a theory for why the human brain is wired for dancing. In lab studies of two parrots and close review of the YouTube videos, scientists looked for signs that animals were actually feeling the beat of music they heard. The verdict: Some parrots did, and maybe an occasional elephant. But researchers found no evidence of that for dogs and cats, despite long exposure to people and music, nor for chimps, our closest living relatives. Why? The truly boppin' animals shared with people some ability to mimic sounds they hear, the researchers say. The brain circuitry for that ability lets people learn to talk, and evidently also to dance or tap their toes to music, suggests Aniruddh Patel of the Neurosciences Institute in San Diego. He proposed the music connection in 2006. He also led a study of Snowball that was published online Thursday by the journal Current Biology. A separate YouTube study, also published Thursday by the journal, was led by Adena Schachner, a graduate student in psychology at Harvard University. In sum, the new research "definitely gives us a bit of insight into why and how humans became able to dance," Schachner said. A video of Snowball bobbing his head and kicking like a little Rockette to music has been viewed more than 2 million times on YouTube since it was posted in 2007. Snowball's movements followed the beat of his favorite Backstreet Boys song ... even when researchers sped up the tune and slowed it down.
Note: To watch videos of Snowball dancing to the Backstreet Boys and Huey Lewis, click here.
According to current and former government officials, the CIA's secret waterboarding program was designed and assured to be safe by two well-paid psychologists now working out of an unmarked office building in Spokane, Washington. Bruce Jessen and Jim Mitchell, former military officers, together founded Mitchell Jessen and Associates. Both men declined to speak to ABC News citing non-disclosure agreements with the CIA. But sources say Jessen and Mitchell together designed and implemented the CIA's interrogation program. "It's clear that these psychologists had an important role in developing what became the CIA's torture program," said Jameel Jaffer, an attorney with the American Civil Liberties Union. Former U.S. officials say the two men were essentially the architects of the CIA's 10-step interrogation plan that culminated in waterboarding. Associates say the two made good money doing it, boasting of being paid a $1,000 a day by the CIA to oversee the use of the techniques on top al Qaeda suspects at CIA secret sites. Both Mitchell and Jessen were previously involved in the U.S. military program to train pilots how to survive behind enemy lines and resist brutal tactics if captured. But it turns out neither Mitchell nor Jessen had any experience in conducting actual interrogations before the CIA hired them. The new documents show the CIA later came to learn that the two psychologists' waterboarding "expertise" was probably "misrepresented" and thus, there was no reason to believe it was "medically safe" or effective. The waterboarding used on al Qaeda detainees was far more intense than the brief sessions used on U.S. military personnel in the training classes.
Note: For lots more on CIA torture and other recent government attacks on civil liberties, click here.
As the World Health Organization raised its infectious disease alert level Wednesday and health officials confirmed the first death linked to swine flu inside U.S. borders, scientists studying the virus are coming to the consensus that this hybrid strain of influenza -- at least in its current form -- isn't shaping up to be as fatal as the strains that caused some previous pandemics. In fact, the current outbreak of the H1N1 virus, which emerged in San Diego and southern Mexico late last month, may not even do as much damage as the run-of-the-mill flu outbreaks that occur each winter without much fanfare. "Let's not lose track of the fact that the normal seasonal influenza is a huge public health problem that kills tens of thousands of people in the U.S. alone and hundreds of thousands around the world," said Dr. Christopher Olsen, a molecular virologist who studies swine flu at the University of Wisconsin School of Veterinary Medicine in Madison. Flu viruses are known to be notoriously unpredictable, and this strain could mutate at any point -- becoming either more benign or dangerously severe. But mounting preliminary evidence from genetics labs, epidemiology models and simple mathematics suggests that the worst-case scenarios are likely to be avoided in the current outbreak. "This virus doesn't have anywhere near the capacity to kill like the 1918 virus," which claimed an estimated 50 million victims worldwide, said Richard Webby, a leading influenza virologist at St. Jude Children's Research Hospital in Memphis, Tenn.
Note: For lots more on bird and swine flu scares, click here.
Of the many ways that the Bush administration sought to evade accountability for its violations of the law and the Constitution under the cover of battling terrorism, one of the most appalling was its attempt to use inflated claims of state secrecy to slam shut the doors of the nation’s courthouses. Sadly, the Obama administration also embraced this tactic, even though President Obama criticized the cult of secrecy while running for office, leaving it to the courts to stand up for transparency and accountability. And that is just what a panel of the federal appeals court in San Francisco did on Tuesday by firmly rejecting the claim that the government can prevent a judge from even hearing those who say they were hurt by federal policies and actions. The unanimous ruling by a three-judge panel of the United States Court of Appeals for the Ninth Circuit reinstated a civil lawsuit brought against a government contractor by five victims of the extraordinary rendition program, under which foreigners were kidnapped and flown to other countries for interrogation and torture. The panel said the government can ask a judge to decide on a case-by-case basis whether disclosing particular evidence would jeopardize national security. But it recognized the affront to civil liberties and the constitutional separation of powers in the Justice Department’s argument that the executive branch is entitled to have lawsuits shut down whenever an official makes a blanket claim of national security.
Note: For lots more on government secrecy from reliable sources, click here.
Pharmaceutical stocks are skyrocketing on fears that a swine flu outbreak could go global. Manufacturers of antiviral drugs [and] companies gearing up to produce a vaccine ... are turning profits in an otherwise skittish and down market. Companies gearing up for swine flu, including Roche, Gilead Sciences and GlaxoSmithKline, the manufacturers of the leading antiviral flu medications, are best positioned to see a boost in profits if the disease escalates to epidemic proportions, analysts said. Tamiflu ... was developed by Gilead and manufactured by Roche. Both companies' share prices spiked soon after the U.S. government allowed for its stockpiles of the drug to be made publicly available. Gilead stock surged to $47.53 at the end of the day Monday, up 3.78 percent. Roche rose to $31.72, up 4.34 percent. The other major flu drug currently on the market is Relenza, also stockpiled and released by the government, and manufactured by GlaxoSmithKline. Shares of Glaxo closed surged Monday to $31.56, up 7.57 percent. Both Tamiflu and Relenza are stockpiled by governments and in the case of an outbreak the companies are often required to sell the drugs directly to the government at a discount. "Government stockpiling is viewed as boon for profits. Though the government gets a discount and the margins sold to the government are lower than those if they sold to Walgreens, from a stock perspective it's an unexpected positive surprise," he said.
Note: Pharmaceutical companies make big bucks from scares like the avian flu and swine flu. Yet are the recommended drugs really effective? Many studies say they are not. For analysis of profiteering by the pharmaceutical industry during a previous flu scare, click here. See this link for lots more.
There was a time when red meat was a luxury for ordinary Americans, or was at least something special: cooking a roast for Sunday dinner, ordering a steak at a restaurant. Not anymore. Meat consumption has more than doubled in the United States in the last 50 years. Now a new study of more than 500,000 Americans has provided the best evidence yet that our affinity for red meat has exacted a hefty price on our health and limited our longevity. The study found that, other things being equal, the men and women who consumed the most red and processed meat were likely to die sooner, especially from one of our two leading killers, heart disease and cancer, than people who consumed much smaller amounts of these foods. The number of excess deaths that could be attributed to high meat consumption is quite large given the size of the American population. Extrapolated to all Americans in the age group studied, the new findings suggest that over the course of a decade, the deaths of one million men and perhaps half a million women could be prevented just by eating less red and processed meats, according to estimates prepared by Dr. Barry Popkin, who wrote an editorial accompanying the report. In place of red meat, nonvegetarians might consider poultry and fish. In the study, the largest consumers of “white” meat from poultry and fish had a slight survival advantage. Likewise, those who ate the most fruits and vegetables also tended to live longer.
Note: For many excellent reports on health issues, click here.
In late 2007, there was the first crack of daylight into the government’s use of waterboarding during interrogations of Al Qaeda detainees. On Dec. 10, John Kiriakou, a former C.I.A. officer who had participated in the capture of the suspected terrorist Abu Zubaydah in Pakistan in 2002, appeared on ABC News to say that while he considered waterboarding a form of torture, the technique worked and yielded results very quickly. Mr. Zubaydah started to cooperate after being waterboarded for “probably 30, 35 seconds,” Mr. Kiriakou told the ABC reporter Brian Ross. “From that day on he answered every question.” His claims — unverified at the time, but repeated by dozens of broadcasts, blogs and newspapers — have been sharply contradicted by a newly declassified Justice Department memo that said waterboarding had been used on Mr. Zubaydah “at least 83 times.” Some critics say that the now-discredited information shared by Mr. Kiriakou and other sources heightened the public perception of waterboarding as an effective interrogation technique. “I think it was sanitized by the way it was described” in press accounts, said John Sifton, a former lawyer for Human Rights Watch. On “World News,” ABC included only a caveat that Mr. Kiriakou himself “never carried out any of the waterboarding.” Still, he told ABC that the actions had “disrupted a number of attacks, maybe dozens of attacks.” A video of the interview was no longer on ABC's website.
Note: For the transcript of the original ABC interview of John Kiriakou, click here. To watch a video of the interview which ABC News removed from its website, click here.
It was supposed to be a photo opportunity, a showcase of Air Force One alongside the sweep of New York City skyline. But as the low-flying Boeing 747 speeded in the shadows of skyscrapers, trailed by two fighter jets, the sight instead awakened barely dormant fears of a terrorist attack, causing a momentary panic that sent workers pouring out of buildings on both sides of the Hudson River. “I thought there was some kind of an attack,” said Paul Nadler, who sprinted down more than 20 flights of stairs after watching the plane from his office in Jersey City shortly after 10 a.m. “We ran like hell.” Witnesses described the engine roar as the planes swooped by office towers close enough to rattle the windows and prompt evacuations at scores of buildings. Some sobbed as they made their way to the street. “As soon as someone saw how close it got to the buildings, people literally ran out,” said Carlina Rivera, 25, who works at an educational services company on the 22nd floor of 1 Liberty Plaza, adjacent to the site of the Sept. 11, 2001, attack. “Probably about 80 percent of my office left within two minutes of seeing how close it got to our building.” Neither the White House nor the F.A.A. explained why the mission was deemed a secret, even though officials conceded the primary purpose was picture taking. Officials at the Department of Transportation and at the Pentagon each denied responsibility for the secrecy.
Note: The official lack of explanation for the government secrecy prior to this terrifying overflight of traumatized Manhattan certainly raises further questions. For lots more on the hidden realities behind the fake "war on terror", click here.
Warren D. Ward, 48, was in high school when the swine flu threat of 1976 swept the U.S. A relative died in the 1918 flu pandemic, and the 1976 illness was feared to be a direct descendant of the deadly virus. “The government wanted everyone to get vaccinated,” Ward said. “But the epidemic never really broke out. It was a threat that never materialized.” The episode began in February 1976, when an Army recruit at Ft. Dix, N.J., fell ill and died from a swine flu virus thought to be similar to the 1918 strain. Several other soldiers at the base also became ill. The CDC ... called on President Ford and Congress to begin a mass inoculation. The $137-million program began in early October, but within days reports emerged that the vaccine appeared to increase the risk for Guillain-Barre syndrome, a rare neurological condition that causes temporary paralysis but can be fatal. More than 40 million Americans ... received the swine flu vaccine before the program was halted in December after 10 weeks. More than 500 people are thought to have developed Guillain-Barre syndrome after receiving the vaccine; 25 died. Only about 200 cases of swine flu and one death were ultimately reported. No one completely understands the causes of Guillain-Barre, but the condition can develop after a bout with infection or following surgery or vaccination. The federal government paid millions in damages. The pandemic, which some experts estimated at the time could infect 50 million to 60 million Americans, never unfolded.
Note: For more along these lines, see concise summaries of deeply revealing news articles on vaccines from reliable major media sources.
In February 1976, an outbreak of swine flu struck Fort Dix Army base in New Jersey, killing a 19-year-old private and infecting hundreds of soldiers. Concerned that the U.S. was on the verge of a devastating epidemic, President Gerald Ford ordered a nationwide vaccination program at a cost of $135 million (some $500 million in today's money). Within weeks, reports surfaced of people developing Guillain-Barré syndrome, a paralyzing nerve disease that can be caused by the vaccine. By April, more than 30 people had died of the condition. Facing protests, federal officials abruptly canceled the program on Dec. 16. The epidemic failed to materialize. Medical historians and epidemiologists say ... the decisions made in the wake of the '76 outbreak — and the public's response to them — provide a cautionary tale for public health officials, who may soon have to consider whether to institute draconian measures to combat the disease. "I think 1976 provides an example of how not to handle a flu outbreak," says Hugh Pennington, an emeritus professor of virology at Britain's University of Aberdeen. Despite modern advances in microbiology, today's health officials still make decisions in a "cloud of uncertainty," Pennington says. "At the moment, our understanding of the current outbreak is similarly limited. For example, we don't yet understand why people are dying in Mexico but not elsewhere." Howard Markel, director of the Center for the History of Medicine at the University of Michigan and a historical consultant to the CDC on flu pandemics, says the most vexing decision facing health officials is when to institute mass vaccination programs.
Note: To watch two short commercials made in 1976 showing clear scare tactics, click here. Then read about and watch a highly revealing 60 Minutes segment covering this deception. Only one person died from the actual flu in this 1976 "epidemic," yet more than 30 died of the flu vaccine. To explore the serious risks of vaccines reported in the media, click here. For lots more on bird and swine flu scares, click here.
Portugal [in] in 2001 became the first European country to officially abolish all criminal penalties for personal possession of drugs, including marijuana, cocaine, heroin and methamphetamine. At the recommendation of a national commission charged with addressing Portugal's drug problem, jail time was replaced with the offer of therapy. People found guilty of possessing small amounts of drugs are sent to a panel consisting of a psychologist, social worker and legal adviser for appropriate treatment (which may be refused without criminal punishment), instead of jail. The recently released results of a report commissioned by the Cato Institute ... found that in the five years after personal possession was decriminalized, illegal drug use among teens in Portugal declined and rates of new HIV infections caused by sharing of dirty needles dropped, while the number of people seeking treatment for drug addiction more than doubled. "Judging by every metric, decriminalization in Portugal has been a resounding success," says Glenn Greenwald, an attorney, author and fluent Portuguese speaker, who conducted the research. "It has enabled the Portuguese government to manage and control the drug problem far better than virtually every other Western country does." Compared to the European Union and the U.S., Portugal's drug use numbers are impressive. Following decriminalization, Portugal had the lowest rate of lifetime marijuana use in people over 15 in the E.U.: 10%. The most comparable figure in America is in people over 12: 39.8%. Proportionally, more Americans have used cocaine than Portuguese have used marijuana.
Note: For an inspiring interview with a sociologist who serves on one of the drug commissions in Portugal, click here. For a treasure trove of great news articles which will inspire you to make a difference, click here.
The Pentagon has agreed to release dozens of previously undisclosed photographs depicting the abuse by American military personnel of captives in Iraq and Afghanistan. The pictures, showing incidents at a half-dozen prisons in addition to the notorious Abu Ghraib installation in Iraq, will be made available by May 28, the Defense Department and the American Civil Liberties Union said. “These photographs provide visual proof that prisoner abuse by U.S. personnel was not aberrational but widespread, reaching far beyond the walls of Abu Ghraib,” said Amrit Singh, a staff attorney with the A.C.L.U., which sued for release of the pictures under the Freedom of Information Act. There were early reports that at least some of the new pictures show detainees being intimidated by American soldiers, sometimes at gunpoint, but Ms. Singh said it is not yet clear what kinds of scenes were captured, and by whose cameras. Disclosure of the latest pictures “is critical for helping the public understand the scope and scale of prisoner abuse as well as for holding senior officials accountable for authorizing or permitting such abuse,” said Ms. Singh, who argued the case before the United States Court of Appeals for the Second Circuit, in Manhattan. The Pentagon’s decision to release the pictures came after the A.C.L.U. prevailed at the Federal District Court level and before a panel of the Second Circuit. The Pentagon had fought the release of the photographs, connected with investigations between 2003 and 2006, on the grounds that the release could endanger American military personnel overseas and that the privacy of detainees would be violated.
Note: For many revealing reports on the horrific realities of the US wars on Iraq and Afghanistan, click here.
We missed this story from earlier this week, but think it's still worth sharing. Glenn Greenwald over at Salon.com wrote an interesting column on Tuesday about the lack of cable news coverage related to New York Times journalist David Barstow's Pulitzer Prize for investigative journalism. Barstow wrote two fascinating, deeply researched stories last year about how retired generals, acting as military analysts for cable channels, had been co-opted by the Pentagon to push their line on the war. He also discovered that the generals had, as the Pulitzer committee describes it "undisclosed ties to companies than benefited from the policies they defended." Greenwald notes that there was a virtual moratorium on discussing Barstow's prize on TV. Brian William at NBC just said that the NYT had won five awards, and CNN's write-up didn't even mention Barstow's name. You can read Greenwald's piece here.
Note: For lots more on major media cover-ups, click here.
The director of the Central Intelligence Agency concluded in late 2005 that a conversation picked up on a government wiretap was serious enough to require notifying Congressional leaders that Representative Jane Harman, Democrat of California, could become enmeshed in an investigation into Israeli influence in Washington, former government officials said Thursday. But Attorney General Alberto R. Gonzales told the director of the agency, Porter J. Goss, to hold off on briefing lawmakers about the conversation, between Ms. Harman and an Israeli intelligence operative, despite a longstanding government policy to inform Congressional leaders quickly whenever a member of Congress could be a target of a national security investigation. One reason Mr. Gonzales intervened, the former officials said, was to protect Ms. Harman because they saw her as a valuable administration ally in urging The New York Times not to publish an article about the National Security Agency’s program of wiretapping without warrants. The accounts provided new details about tension between senior C.I.A. officials and the attorney general over what to make of the wiretapped conversations involving Ms. Harman, which the former government officials said first occurred in spring 2005. In the wiretapped conversation, Ms. Harman was overheard agreeing to a request made by an Israeli intelligence operative that she try to obtain leniency for two pro-Israel lobbyists in exchange for help in securing the chairmanship of the House Intelligence Committee, former officials said.
Note: For lots more on government corruption from reliable, verifiable sources, click here.
American authorities reportedly refused an Air France flight from Paris to Mexico entry into US airspace because a left-wing journalist writing a book on the CIA was on board. Hernando Calvo Ospina, who works for Le Monde Diplomatique and has written on revolutionary movements in Cuba and Colombia , figured on the US authorities' "no-fly list". A spokesman for Mr Ospina's French publisher, Le Temps des Cerises, said: "Hernando, who was heading to Nicaragua to research a report, thus found out that he is on a 'no-fly list' that bans a number of people from flying to or even over the United States." Some 50,000 people are said to be on the list set up under George W. Bush, the former US president. The publisher accused the Central Intelligence Agency of being behind Mr Ospina's blacklisting, pointing out that the journalist was currently researching a book about the spy agency. "It shows to what degree its paranoia (has reached)," it said. Critics claim that [the list] has been abusively extended to peaceful critics of US policy.
Note: For many disturbing reports from major media sources on the increasing threats to civil liberties under the pretext of the "war on terrorism," click here.
One famous aria after another: the operatic hit parade began as the bus pulled away from the depot, empty. “La donna č mobile” from Verdi’s “Rigoletto” was followed, somewhere on the West Side Highway, by “Nessun dorma” from Puccini’s “Turandot.” The A’s and that high B at the end were thrilling. And then the bus turned onto Clarkson Street, on the way to the first stop on the M8 line. “This is difficult sitting down,” said the driver, Christopher G. Dolan, 51. “You got to be standing up.” Mr. Dolan ... has been a New York City driver for 27 years, starting in the Bronx and then transferring to Manhattan. You never know whom you will meet on a bus — he married one of his passengers. “That’s worth my $2,” said Elaine Smalls, who boarded at Eighth Street and Avenue C. He started as a baritone. On the job one day in 2002 — he was on the M10 then — he picked up a passenger on Eighth Avenue whom he recognized as Vincent La Selva, the artistic director of the New York Grand Opera. “I called him over, which surprised him, being recognized on the bus, and I said, ‘What does somebody have to do to get an audition with you?’ He handed me his card and said, ‘Give me a call.’ ” Mr. Dolan did, and soon he was in Mr. La Selva’s studio, plowing through aria after aria. He remembers what Mr. La Selva told him when he finished: “I love your voice, but you’re not a baritone. Go home and learn to be a tenor and come back.” Mr. Dolan did as he was told: he worked on getting his voice up to a higher tessitura.
Note: To watch a short video of Mr. Dolan singing while driving his bus, click here. For a video of a short recital off the bus, click here.
Federal prosecutors in the U.S. will be reading with amusement the Australian press's coverage of a class action trial down under for patients who took Merck's now-withdrawn painkiller Vioxx. Details emerging in Oz make some of the antics that Merck's American counterparts got up to look tame by comparison. For example, in Australia, Merck allegedly: Had a doctor sign his name to an entirely ghostwritten journal article even though a Merck staffer had complained that the data within it was based on "wishful thinking;" created a fake "peer-reviewed" journal, the "Australasian Journal of Bone and Joint Medicine," in which to publicize pro-Vioxx articles; created a Ricky Martin-style pop song to get Merck sales reps all jazzed up about Vioxx; [and] hatched a Blackadder-style "cunning plan" to seed seminars with speakers who were sympathetic to Vioxx. Here's The Australian's description of the Merck PR team's over-the-top "handling" of reporters at ... a class action trial down under for patients who took Merck's now-withdrawn painkiller Vioxx: A hired crisis management team sits in court every day, under the guidance of Merck & Co's media spokeswoman flown out from the US, watching what journalists write, who they talk to and where they go in the court breaks. The team ... follow journalists out of court, ask them what they are writing, hand out daily press releases and send "background" emails they say should not be attributed to the company but which detail what they think are the "salient points" from the evidence presented in court. The team rings reporters first thing in the morning, accuses them of "cherry-picking" the evidence and bombards newspapers with letters to the editor arguing their case in detail based on the day's evidence - five were sent to The Australian in just seven days.
Note: FDA analysts estimated that Vioxx caused between 88,000 and 139,000 heart attacks, 30 to 40 percent of which were probably fatal, in the five years the drug was on the market. Read another CBS News article which shows how Merck literally created a hit list for doctors who opposed use of Vioxx. For more along these lines, see concise summaries of deeply revealing health corruption news articles from reliable major media sources.
The pressures were already immense when David B. Kellermann was promoted to the top financial position at the mortgage giant Freddie Mac last September. Mr. Kellermann's boss and other top executives were ousted when the Treasury secretary seized Freddie Mac and its sibling company, Fannie Mae; others left on their own and were not replaced. Early on Wednesday, Mr. Kellermann went to the basement of his brick home and hanged himself, according to people familiar with the situation who were not authorized to speak. His body was removed five hours later, through a throng of neighbors, television crews and others. "David was such an honest and humble person," said Tim Bitsberger, Freddie Mac"s treasurer until he left in December. "It just doesn't make sense," Mr. Bitsberger said. The roots and causes of suicide are often unclear. It is not known if Mr. Kellermann succumbed to the pressures of his job. But in the aftermath of his death, it is plain that at Freddie Mac, as at many of the companies in the center of this economic storm, there are forces so strong they can overwhelm almost anyone. Mr. Kellermann ... was at the intersection of some of the most difficult issues facing the company. Mr. Kellermann was also working in a poisonous political atmosphere. He was recently involved in tense conversations with the company's federal regulator over its routine financial disclosures. Freddie Mac executives wanted to emphasize to investors that they believed the company was being run to benefit the government, rather than shareholders.
Note: For a revealing archive of reports on the hidden realities underlying the Wall Street bailout, click here.
While American consumers have been struggling, credit card companies have been enjoying a field day. Not only are most of them receiving federal bailout money, but they've been jacking up interest rates (there were rate hikes on nearly 25 percent of accounts between 2007 and 2008) and switching the terms of agreements with consumers. Why the rush to gouge consumers in the depths of a recession? In July 2010, the Federal Reserve will impose new, consumer-friendly disclosure and administrative restrictions on the credit card industry. Scrambling to get ahead of the deadline, the card companies have been raising interest rates, slicing credit lines and, in too many cases, simply dumping customers with little rhyme or reason. Defaults and delinquencies have skyrocketed - and consumers are livid. "It's off the charts in terms of their ire about paying higher interest rates, particularly when their money, as they see it, is being given to the banks to prop them up," said Rep. Jackie Speier, D-Hillsborough. Speier's staff says her office has been "flooded" with calls from furious constituents. Speier is ... a co-sponsor of HR627, better known as "The Credit Cardholders' Bill of Rights." The bill - which has the support of the Obama administration - would prevent card issuers from raising interest rates without advance notice and end the practice of "double-cycle billing" so that consumers do not have to pay interest on debts they've already paid.
Note: For a highly revealing archive of reports on the hidden realities underlying the Wall Street bailout, click here.
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.