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Revealing News For a Better World

News Articles
Excerpts of Key News Articles in Major Media


Below are key excerpts of little-known, yet highly revealing news articles from the media. Links are provided to the full news articles for verification. If any link fails to function, read this webpage. These articles are listed by order of importance. You can also explore these articles listed by order of the date of the news article or by the date posted. By choosing to educate ourselves, we can build a brighter future.

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.


Hobby Lobby to pay $3m fine over smuggled Iraqi artifacts, prosecutors say
2017-07-06, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/us-news/2017/jul/06/hobby-lobby-iraq-artifacts-fine

The arts and crafts chain Hobby Lobby has agreed to pay a $3m fine and forfeit thousands of smuggled ancient Iraqi artifacts that the US government alleges were intentionally mislabeled. Hobby Lobby became a household name when the US supreme court ruled in its favor in the 2014 case Burwell v Hobby Lobby Stores, which in effect gave certain “closely-held” corporations the same religious rights as individuals. Hobby Lobby had begun acquiring a variety of historical Bibles and other artifacts in 2009 [and] executed an agreement to purchase more than 5,500 artifacts in December 2010 for $1.6m. Packages bore shipping labels that described their contents as “ceramic tiles”. Importing Iraqi cultural property into the US has been restricted since 1990 and banned outright since 2004. In the Hobby Lobby case, a dealer based in the United Arab Emirates shipped ... artifacts to three different corporate addresses in Oklahoma City. Five shipments that were intercepted by federal customs officials bore shipping labels that falsely declared that the artifacts’ country of origin was Turkey. In September 2011, a package containing about 1,000 clay bullae, an ancient form of inscribed identification, was received by Hobby Lobby from an Israeli dealer and accompanied by a false declaration stating that its country of origin was Israel. The illegal sale of historical artifacts is one way in which militant groups such as al-Qaida and Islamic State finance their activities.

Note: The rape of ancient Iraqi artifacts during the war is an incredibly important and underreported story. For more along these lines, see concise summaries of deeply revealing corporate corruption news articles from reliable major media sources.


Swiss Re shifts $130 bln investments to track ethical indices
2017-07-06, CNBC/Reuters
http://www.cnbc.com/2017/07/06/reuters-america-swiss-re-shifts-130-bln-invest...

Swiss Re is switching the entire $130 billion it holds in liquid assets to track ethical indices, the latest move towards principled investments by the insurance industry. The world's second-largest reinsurer ... said taking social and governance (ESG) criteria into account reduced the risk of losses especially for long term investors. "This is not only about doing good, we have done it because it makes economic sense," Swiss Re Chief Investment Officer Guido Fuerer told Reuters. Institutional investors are increasingly looking at how companies perform on environmental, social and governance-related issues, given the potential for poor behaviour to lead to a share price hit. A Bank of America Merrill Lynch Equity and Quant Strategy team last month said ESG-based investing reduced bankruptcy risks for U.S. stocks, while companies with the widest credit default swap spreads are the ones with the weakest ESG credentials, according to research by Hermes Investment Management. "The ultimate point is to put incentives to companies to become more sustainable," said Swiss Re's Fuerer. He said Swiss Re is the first insurer to base its whole portfolio on ethical principles, with portfolio managers being told to use MSCI's environmental, governance and social indices when making investment decisions. MSCI rates companies according to various ethical criteria, with the score combined with market capitalisation weight to create an index. Companies with a more ethical performance have a greater weight in the index.

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


'No doesn't really mean no': North Carolina law means women can't revoke consent for sex
2017-06-24, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/us-news/2017/jun/24/north-carolina-rape-legal-loo...

In North Carolina, a person cannot withdraw consent for sex once intercourse is taking place. Because of a 1979 state supreme court ruling that has never been overturned, continuing to have sex with someone who consented then backed out isn’t considered to be rape. The North Carolina law is an example of how the US legal system has not always kept pace with evolving ideas about rape, sex and consent. Just last year, an Oklahoma court ruled that the state’s forcible sodomy statute did not criminalize oral sex with a victim who is completely unconscious. The toughest charge available to prosecutors was unwanted touching. But the North Carolina law appears to be unique. And it has shocked even those who are used to dealing with such legalistic vagaries. “It’s absurd,” said John Wilkinson, a former prosecutor and an adviser to AEquitas, a group which helps law enforcement pursue cases of sexual violence. “I don’t think you could find anyone today to agree with this notion that you cannot withdraw consent. People have the right to control their own bodies. If sex is painful, or for whatever reason, they have the right to change their mind.” The ruling has devastated victims and frustrated prosecutors in North Carolina for years. State senator Jeff Jackson ... has introduced legislation to amend the law. “North Carolina is the only state in the country where no doesn’t really mean no,” he said in a statement. “We have a clear ethical obligation to fix this obvious defect in our rape law.”

Note: A local North Carolina newspaper, the Fayetteville Observer, drew widespread attention to this bizarre law by reporting on a case of sexual abuse involving US military personnel. For more along these lines, see concise summaries of news articles on judicial system corruption and sexual abuse scandals.


Mexican journalists, activists targeted with spyware
2017-06-19, ABC News/Associated Press
http://abcnews.go.com/Technology/wireStory/report-mexican-journalists-activis...

Mexican journalists, lawyers and activists were targeted by spyware produced by Israel’s NSO Group that is sold exclusively to governments. [A] report by Citizen Lab at the University of Toronto said the targets included people, such as prominent journalists Carmen Aristegui and Carlos Loret de Mola, who were investigating alleged government corruption and purported human rights abuses by security forces. The people targeted received messages with links that, if clicked on, opened up their devices to being exploited and spied upon. NSO’s Pegasus spyware allows hackers access to phone calls, messages, cameras and personal data. Other targets included members of the Centro Miguel Agustin Pro Juarez, a prominent human rights group that has investigated cases such as the disappearance of 43 students whom police allegedly detained and turned over to drug gang killers; the anti-graft group Mexicans Against Corruption and Impunity; and the Mexican Institute for Competitiveness, a civil society group working on economic policy and combatting corruption. Aristegui, who exposed a case of possible conflict of interest involving a luxury home acquired from a government contractor ... was aggressively targeted. She received more than two-dozen messages with NSO links claiming to be from “the U.S. Embassy in Mexico, Amber Alerts, colleagues, people in her personal life, her bank, phone company and notifications of kidnappings,” the report said.

Note: If the above link is not working, this Associated Press article is also available here. For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and the erosion of civil liberties.


'Staggering' loss of civilian life from US-led airstrikes in Raqqa, says UN
2017-06-14, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/world/2017/jun/14/staggering-civilian-deaths-from...

UN war crimes investigators have denounced a “staggering loss of civilian life” caused by the US-backed campaign to reclaim Raqqa, the de facto capital of Islamic State. The independent commission of inquiry tasked with investigating violations of international law, war crimes and crimes against humanity in Syria said the intensification of airstrikes by the US-led coalition had led to the deaths of at least 300 civilians in the city. The Raqqa operation began last week with a ground assault by the Syrian Democratic Forces (SDF), an umbrella group comprising Kurdish and Arab militiamen armed by the US and supported by coalition airstrikes. “The intensification of airstrikes ... has resulted not only in staggering loss of civilian life, but has also led to 160,000 civilians fleeing their homes and becoming internally displaced,” Paulo Pinheiro, the chairman of the UN commission of inquiry, told the human rights council in Geneva. The civilian cost of the campaign was highlighted last week when footage emerged of coalition planes deploying white phosphorus in the city, which is home to tens of thousands of civilians, prisoners of war, enslaved Yazidi women, and a few thousand Isis militants. Human Rights Watch urged the coalition separately on Wednesday to exercise great caution when using white phosphorus, saying it could cause “horrific and long-lasting harm” in crowded cities such as Raqqa.

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


Now let's fight back against the politics of fear
2017-06-10, The Guardian (One of the UK's leading newspapers)
https://www.theguardian.com/books/2017/jun/10/naomi-klein-now-fight-back-agai...

The term “shock doctrine” describes the quite brutal tactic of systematically using the public’s disorientation following a collective shock – wars, coups, terrorist attacks, market crashes or natural disasters – to push through radical pro-corporate measures, often called “shock therapy”. From the evidence so far, it’s clear that Trump and his top advisers are ... trying to pull off a domestic shock doctrine. The goal is all-out war on the public sphere and the public interest, whether in the form of antipollution regulations or programmes for the hungry. In their place will be unfettered power and freedom for corporations. It’s a programme so defiantly unjust and ... corrupt that it can only be pulled off with the assistance of divide-and-conquer racial and sexual politics, as well as a nonstop spectacle of media distractions. And, of course, it is being backed up with a massive increase in war spending. Trump’s cabinet of billionaires and multimillionaires tells us a great deal about the administration’s underlying goals. ExxonMobil for secretary of state; General Dynamics and Boeing to head the department of defence; and the Goldman Sachs guys for pretty much everything that’s left. This is ... a naked corporate takeover, one many decades in the making. We have to tell a different story from the one the shock doctors are peddling, a vision of the world compelling enough to compete head to head with theirs. Most of all, that vision needs to offer those who are hurting – for lack of jobs, lack of healthcare, lack of peace, lack of hope – a tangibly better life.

Note: The above was written by Naomi Klein, bestselling author of The Shock Doctrine: The Rise of Disaster Capitalism. For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the corporate world.


China's Clean Energy Ambition Floats on Abandoned Coal Mine
2017-06-08, Bloomberg
https://www.bloomberg.com/news/articles/2017-06-08/china-s-clean-energy-ambit...

China’s ambitions to dominate new energy technologies are unfolding at the site of an abandoned coal mine about 300 miles (483 kilometers) northwest of Shanghai. There, in Anhui province, Sungrow Power Supply Co. has built the world’s largest floating solar farm with 166,000 panels on a lake created when a nearby mine collapsed. While not an entirely unique idea - similar facilities are working in Japan, the U.K. and Israel - the project’s scale represents a step forward for China in shaping the future of energy. With plans to spend $360 billion on renewable energy by 2020, China is seeking to appear as a global leader on the environment, marking a contrast with U.S. President Donald Trump’s rebuke of the Paris Agreement on climate change. “The Chinese are really investing in the research and development side of innovation,” said Helen Clarkson, chief executive officer of The Climate Group, a non-governmental organization that works to promote clean energy technologies and policy. While Trump has said repeatedly he wants to stimulate fossil fuels and especially coal, China is funding a series of ground-breaking projects that generate power without pollution. Whether with massive floating solar farms like the one in Anhui, sprawling wind farms or ambitious plans to develop geothermal reserves, the world’s most-populous nation is asserting itself as a powerhouse of clean-energy technology.

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


School District Switches to Local and Organic Meals, Cuts Carbon Footprint—and Saves Money
2017-05-22, Yes! Magazine
http://www.yesmagazine.org/planet/school-district-switches-to-local-and-organ...

When her eldest son was in elementary school in the Oakland Unified School District, Ruth Woodruff became alarmed by the meals he was being served at school. A lot of it was frozen, processed foods, packed with preservatives. So in late 2008, she and a group of parents got together to urge the school district to reconsider how and where it was buying the food it served students. Now, five years after the district responded by overhauling the menus at its 100-plus schools - serving less meat and adding more fruits and vegetables - a new report has revealed some surprising results. The study by the environmental nonprofit, Friends of the Earth (FOE), found that the district’s Farm to School initiative not only provided its 48,000 or so students with access to healthier foods, but that between 2012 and 2015 its overall food costs declined and its carbon footprint shrank. The [Farm to School] program saves the district money because cooks prepare school meals from scratch. The lunch menu in OUSD schools transformed from a smorgasbord of processed foods to local, organic options. School cooks season and roast antibiotic-free chicken in-house, instead of heating up pre-cooked drumsticks. They also substitute frozen vegetables with fresh sides, like carrot salads made from scratch. In addition to a healthier menu, students get to go on field trips to local farms and take cooking classes through the program.

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


Swiss vote to withdraw country from use of nuclear power
2017-05-21, ABC News/Associated Press
http://abcnews.go.com/International/wireStory/swiss-vote-withdraw-country-nuc...

Swiss voters are supporting a referendum to withdraw the country from nuclear power in favor of renewable energy. A projection from Sunday's referendum shows a majority of cantons (states) voted for the plan. Under Switzerland's direct democracy system, initiatives need a majority of both cantons and votes to pass. The projection for SRF public television showed 58 percent of voters in favor and 42 percent against the proposal. The Swiss government wants to ban the construction of new nuclear power plants and decommission the country's five existing ones at the end of their technically safe operating lives. The plan would also boost renewable energies such as water and wind and make cars and electronic devices more energy efficient.

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


With New Digital Tools, Even Nonexperts Can Wage Cyberattacks
2017-05-13, New York Times
https://www.nytimes.com/2017/05/13/technology/hack-ransomware-scam-cyberattac...

A decade-old internet scourge called ransomware went mainstream on Friday when cybercriminals seized control of computers around the world, from the delivery giant FedEx in the United States to Britain’s public health system, universities in China and even Russia’s powerful Interior Ministry. Ransomware is nothing new. For years, there have been stories of individuals or companies horrified that they have been locked out of their computers and that the only way back in is to pay a ransom to someone, somewhere who has managed to take control. But computer criminals are discovering that ransomware is the most effective way to make money in the shortest amount of time. Friday’s attacks were a powerful escalation of earlier, much smaller episodes. Hackers exploited a vulnerability in Microsoft servers that was first discovered by the National Security Agency and then leaked online. It allowed the ransomware to spread [to] more than 70,000 organizations. There is even now a concept of “ransomware as a service” - a play on the Silicon Valley jargon “software as a service,” which describes the delivery of software over the internet. Now anyone can visit a web page, generate a ransomware file with the click of a mouse, encrypt someone’s systems and demand a ransom to restore access to the files. If the victim pays, the ransomware provider takes a cut of the payment. Ransomware criminals also have customer service lines that victims can call to get help paying a ransom.

Note: In 2014, it was reported that the NSA was developing tools to make it relatively easy to hack millions of computers at once. Two years later, a large collection of NSA hacking tools was leaked. Now, these tools are being used by criminals against people all over the world. For more along these lines, see concise summaries of deeply revealing news articles about intelligence agency corruption and the disappearance of privacy.


The Day You Changed The Economy
2017-04-26, Huffington Post
http://www.huffingtonpost.com/entry/the-day-you-changed-the-economy_us_5900cb...

Despite the urgings of all of the world’s great religions, “neoliberalism,” the economic narrative that now runs the world, has convinced us that “greed is good.” The sole goal of the economy and business, it says, is to generate financial wealth. Markets are perfect and all of us individualistically maximizing our own desires will somehow deliver a world that works. Except that it didn’t. Today eight men have as much wealth as the bottom 3.5 billion humans on earth. The middle class is sinking into poverty with mothers working two jobs to support their families, while proponents of austerity cut social services to give greater tax benefits to the richest one percent. The rich call themselves “job creators.” But they invest not in new companies, but in financial instruments that benefit the big banks. So in 2016 the bonuses paid to Wall St. bankers, if shared among minimum wage earners, would have doubled the minimum wage. Just the bonuses. The old narrative is based on ... assumptions that scientists now reject. Psychologists, evolutionary biologists, anthropologists and others find that most people are not greedy, rugged individualists. We seek to meet our needs, but more, people seek goodness, connection, and caring. We desire to be rewarded for meaningful contributions with a decent living. We are not mostly motivated to acquire wealth. To thrive, businesses and society must pivot toward a new purpose: shared well-being on a healthy planet.

Note: The above article was written in support of the Regenerative Future Summit, which will take place in May 2017 in Boulder, Colorado. For more along these lines, see concise summaries of deeply revealing news articles on corporate corruption and income inequality.


Marijuana may be a miracle treatment for children with autism
2017-04-25, USA Today
https://www.usatoday.com/story/news/world/2017/04/25/marijuana-pot-treatment-...

When Noa Shulman came home from school, her mother, Yael, sat her down to eat, then spoon-fed her mashed sweet potatoes - mixed with cannabis oil. Noa is part of the first clinical trial in the world to test the benefits of medicinal marijuana for young people with autism, a potential breakthrough. There is anecdotal evidence that marijuana’s main non-psychoactive compound - cannabidiol or CBD - helps children in ways no other medication has. Now this first-of-its-kind scientific study is trying to determine if the link is real. Israel is ...one of just three countries with a government-sponsored medical cannabis program, along with Canada and the Netherlands. Conducting cannabis research is also less expensive here and easier under Israeli laws, particularly compared to the United States. Autism is one of the fastest-growing developmental disorders, affecting 1 in 68 children in the United States. Only two medications have been approved in the United States by the Food and Drug Administration to treat the symptoms of autism. Both are antipsychotic drugs that are not always effective and carry serious side effects. Adi Aran, the pediatric neurologist leading the study, said nearly all the participants previously took antipsychotics and nearly half responded negatively. Anecdotal reports of autistic children who benefited from cannabis ... led Aran to pursue more scientific testing. After seeing positive results in 70 of his autistic patients in an observational study, Aran said, “OK we need to do a clinical trial."

Note: Dozens of studies have found evidence that CBD can treat epilepsy as well as a range of other illnesses. While more people are arrested in the US for marijuana use than for all violent crimes combined and the US federal government continues to regard non-psychoactive CBD as a dangerous drug, the UK government recently announced it will regulate CBD as medicine. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.


Forget the Mother of All Bombs fear the Mother of All Algorithms
2017-04-19, San Diego Union-Tribune (San Diego's leading newspaper)
http://www.sandiegouniontribune.com/opinion/commentary/sd-autonomous-weapons-...

The Mother of All Bombs made news last week after the U.S. military dropped its most powerful non-nuclear bomb at a site in Afghanistans Nangarhar Province. This massive ... explosive device may seem a high-tech marvel. But the technology is old news, based on ... World War II-era theories. Yet theres plenty of new news on the military weapons front. The militarys new toys are often fantastically costly. Yet in some categories, technological advances create opportunities for cheap but powerful military tools ... starting with weaponized drones. The Defense Department is designing robotic fighter jets that would fly into combat alongside manned aircraft. It has tested missiles that can decide what to attack, and it has built ships that can hunt for enemy submarines ... without any help from humans. The dilemma posed by artificial intelligence-driven autonomous weapons - which some scientists liken to the third revolution in warfare, after gunpowder and nuclear arms - is that to take fullest advantage of such weapons, the logical move would be to leave humans entirely out of lethal decision-making, allowing for quicker responses to threats. But if future presidents and Pentagons trusted algorithms to make such decisions, conflicts between two nations relying on such technology could rapidly escalate - to possibly apocalyptic levels - without human involvement. More than 20,000 AI researchers, scientists and [others have signed] a ...petition endorsing a ban on offensive autonomous weapons.

Note: In 2013, the United Nations investigated the rise of lethal autonomous robots, and reported that this technology endangers human rights and should not be developed further without international oversight. For more along these lines, see concise summaries of deeply revealing war news articles from reliable major media sources.


First evidence found of popular farm pesticides in drinking water
2017-04-05, Washington Post
https://www.washingtonpost.com/news/speaking-of-science/wp/2017/04/05/iowa-sc...

Of the many pesticides that American farmers have embraced in their war on bugs, neonicotinoids are among the most popular. One of them, called imidacloprid, [boasts] sales of over $1 billion a year. A 2016 study suggested a link between neonicotinoid use and local pollinator extinctions. As the bee debate raged, scientists studying the country’s waterways started to detect neonicotinoid pollutants. In 2015, the U.S. Geological Survey collected water samples from streams throughout the United States and discovered neonicotinoids in more than half of the samples. And on Wednesday, a team of [researchers] at the USGS and University of Iowa reported that they found neonicotinoids in treated drinking water. It marks the first time that anyone has identified this class of pesticide in tap water. The Environmental Protection Agency has not defined safe levels of neonicotinoids in drinking water. The pesticides ... work their way into plant tissue rather than just coating the leaves and stems. Neonicotinoids can slip past sand [water filtration systems] because they ... dissolve very readily in water. The research team looked at how effectively the university’s sand filtration system ... blocked the three neonicotinoids studied. The university’s sand filter removed 1 percent of the clothianidin, 8 percent of imidacloprid and 44 percent of thiamethoxam.

Note: For more, see this mercola.com article. For more along these lines, see concise summaries of deeply revealing health news articles from reliable major media sources.


Airstrike monitoring group overwhelmed by claims of U.S.-caused civilian casualties
2017-03-24, Washington Post
https://www.washingtonpost.com/news/checkpoint/wp/2017/03/24/airstrike-monito...

A non-profit organization that tracks civilian casualties caused by airstrikes in the Middle East said it has shifted nearly all of its resources to track a surge of claims regarding U.S.-led strikes in Syria and Iraq. The group, called Airwars.org, had been tracking deaths caused by both Russian and U.S. airstrikes. “Almost 1,000 civilian non-combatant deaths have already been alleged from coalition actions across Iraq and Syria in March - a record claim,” Airwars said in a statement. In the last week, three mass casualty incidents have been attributed to U.S.-led forces in Iraq and Syria, making March one of the most lethal months for civilians in the the two-year-old war against the Islamic State. Last week, U.S. drones targeted what locals deemed a mosque in Aleppo province in a bid to target al-Qaeda leaders. Those on the ground said at least 47 civilians ... died in the strikes. On Monday, a conflict monitoring group ... said a strike near Raqqa targeted a school that was serving as a home for multiple families displaced by fighting in the area, killing at least 33. On Thursday, Iraqi media reported that an airstrike in Mosul killed more than 200 people. According to Airwars, more than 2,500 civilians have been killed by the U.S.-led coalition, which has admitted to killing only roughly 220 civilians.

Note: Killing civilians is a sure way to create more anti-US terrorists. Why do we let the US government get away with regularly killing civilians? If American civilians were killed, there would be an uproar. For more along these lines, see concise summaries of deeply revealing war news articles from reliable major media sources.


UK debates: Are high heel dress codes sexist?
2017-03-06, Salt Lake Tribune/Associated Press
http://www.sltrib.com/home/5020582-155/uk-debates-are-high-heel-dress

In a debate that has gone from office corridors to Britain's Parliament, lawmakers put their foot down Monday and told employers to stop making women wear high heels as part of corporate dress codes. Members of Parliament debated a ban on mandatory workplace high heels in response to a petition started by a receptionist who was sent home without pay for wearing flat shoes. The debate was nonbinding, but the government promised to act against heel-height rules, makeup guidelines and other corporate codes that apply to women but not to men. Labour lawmaker Helen Jones, who helped lead a parliamentary investigation into dress codes, said she and her colleagues were shocked by what they found. "We found attitudes that belonged more - I was going to say in the 1950s, but probably the 1850s would be more accurate, than in the 21st century," she told lawmakers at Parliament's Westminster Hall. The British government says the law already forbids companies from discriminating against women, but a report from Parliament's Women and Equalities Committee found that "discriminatory dress codes" remain commonplace in sectors including the retail and tourism industries. The committee said it had heard from hundreds of women "who told us about the pain and long-term damage caused by wearing high heels for long periods in the workplace, as well as from women who had been required to dye their hair blonde, to wear revealing outfits and to constantly reapply makeup."

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


Former Spain central bank chief investigated for failed IPO
2017-02-13, Seattle times/Associated Press
http://www.seattletimes.com/business/former-spain-central-bank-chief-investig...

Spain’s National Court is summoning the former heads of Spain’s central bank and the stock market watchdog to be questioned for failing to stop the disastrous flotation of a savings bank that had to be bailed out. Eight officials, including former Bank of Spain governor Miguel Angel Fernandez Ordonez and Julio Seguro, the former president of market regulator CNMV, allegedly failed to stop Bankia’s listing in 2011 despite “repeated warnings” the bank was “unviable,” according to an investigation led by the court’s magistrates. Created by merging the assets of seven struggling Spanish banks, Bankia offered shares in an initial public offering in July 2011 and initially reported a profit for the year of 309 million euro ($327 million.) Months later, it amended its statements to show a 3 billion euro loss. The lender was nationalized in 2012 after a rescue that cost Spanish taxpayers around 22 billion euros ($23 billion). Former International Monetary Fund chief Rodrigo Rato stepped down as chairman of Bankia at the time of the IPO. Rato since has been investigated in separate, but related cases of alleged corruption. Internal central bank reports made clear the savings bank’s “severe and growing problems of profitability, liquidity and solvency,” a court order issued Monday stated.

Note: For more along these lines, see concise summaries of deeply revealing news articles on corruption in government and in the financial industry.


Extreme Vetting, But Not for Banks
2017-02-03, Rolling Stone
http://www.rollingstone.com/politics/features/extreme-vetting-but-not-for-ban...

Donald Trump, the man who positioned himself as the common man's shield against Wall Street, signed a series of orders today calling for reviews or rollbacks of financial regulations. Before he ordered a review of both the Dodd-Frank Act and the fiduciary rule requiring investment advisors to act in their clients' interests, [Trump met] with leading CEOs, including JPMorgan's Jamie Dimon, Blackstone's Steve Schwarzman, and BlackRock's Larry Fink. Former Goldman honcho Gary Cohn [is] Trump's chief economic advisor. It would be hard to put together a group of people less sympathetic to the non-wealthy. The two primary disasters in American history this century ... have been 9/11 and the 2008 financial crisis, which cost 8.7 million people their jobs and may have destroyed as much as 45 percent of the world's wealth. The response to 9/11 we know: major military actions all over the world, plus a radical reshaping of our legal structure, with voters embracing warrantless surveillance, a suspension of habeas corpus, even torture. But the crisis response? Basically, we gave trillions of dollars to bail out the very actors who caused the mess. Now ... we've triumphantly put those same actors back in charge. These egomaniacal Wall Street titans want ... to get rid of the fiduciary rule, because they don't think it's anyone's business if they choose to bet against their clients (as Cohn's Goldman famously did), or overcharge them, or otherwise screw them.

Note: For more along these lines, see concise summaries of deeply revealing news articles about corruption in government and in the financial industry.


Trump's travel ban bears the hallmarks of historic 'shock events'; don't let it fool you
2017-01-31, Dallas Morning News (A leading newspaper of Dallas, TX)
http://www.dallasnews.com/opinion/commentary/2017/01/31/americans-can-turn-ta...

What Steve Bannon is doing, most dramatically with the ban on immigration from seven predominantly Muslim countries - is creating what is known as a "shock event." Such an event is unexpected and confusing. People scramble to react to the event, usually along some fault line that those responsible for the event can widen by claiming that they alone know how to restore order. As society reels and tempers run high, those responsible for the shock event perform a sleight of hand to achieve their real goal, a goal they know to be hugely unpopular, but from which everyone has been distracted as they fight over the initial event. There is no longer concerted opposition to the real goal; opposition divides along the partisan lines established by the shock event. Donald Trump's executive order has all the hallmarks of a shock event. It was not reviewed by any governmental agencies or lawyers before it was released, and counterterrorism experts insist they did not ask for it. People charged with enforcing it got no instructions about how to do so. Courts immediately have declared parts of it unconstitutional, but border police in some airports are refusing to stop enforcing it. Unless you are the person setting it up, it is in no one's interest to play the shock event game. It is designed explicitly to divide people. But because shock events destabilize a society, they can also be used positively. We do not have to respond along old fault lines.

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


Singularity University focuses on tech transforming society
2016-12-27, San Francisco Chronicle (San Francisco's leading newspaper)
http://www.sfchronicle.com/business/article/Singularity-University-focuses-on...

Most pop culture depictions of the future, from “The Hunger Games” to the zombie apocalypse, feature dystopia. Singularity University wants to help people — particularly corporate chiefs, global entrepreneurs, government officials, academics, creative types and nonprofit leaders — envision and create more upbeat prospects. “I have a sense of urgency about the need to tell positive stories about a future of abundance, so we have an alternative,” said CEO Rob Nail. “We’re creating a new lens of how to look at the world and create a long-term future we want to live in.” Singularity isn’t a university in the traditional sense. It combines a think tank, business incubator, worldwide conferences and short-duration on-site education programs. Founded in 2009, Singularity changed from a nonprofit to a benefit corporation, a form of for-profit business, four years ago. As such, it can consider its vision of solving big problems alongside ordinary corporate goals of profit-making. Singularity aims big. Its pitch to applicants to its accelerator and students at its intensive 40-day summer program called Global Solutions is this: Come up with an idea to positively impact the lives of a billion people. Think clean water, renewable energy, health, hunger, poverty. “We get thousands of applicants, and look for people ... who have the mind-set and talent to be a game changer and are dedicated to applying technology to address the world’s biggest problems,” said Brad Templeton ... chairman of computing at Singularity.

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


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