News ArticlesExcerpts of Key News Articles in Major Media
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.
A startup that’s been called “a Kickstarter for the homeless,” HandUp Pbc, has raised $850,000 in seed funding, co-founder and Chief Executive Rose Broome told Venture Capital Dispatch. Unlike giving cash to needy people on the streets, HandUp helps donors give money to homeless people who commit to using it to fulfill specific needs like rent, security deposits, food or health bills. Homeless advocates, or case managers who work in shelters, post profiles on HandUp.us on behalf of the homeless, accept donations via HandUp, then ensure the money is spent on what that person said he or she needed. To generate revenue, HandUp asks donors to pay an optional “support fee” of five dollars each time they make a contribution. If a donor doesn’t opt-in to pay that fee, the entirety of what they donate goes to the homeless person in need. Most homeless people do not or cannot maintain an online bank account or consistent Internet access. So HandUp’s approach helps them get access to online fundraising when they wouldn’t otherwise have the option. It also has the effect of helping non-profits and shelters validate that their clients’ needs are being met fully, and with transparency for donors. With the seed funding, Ms. Broome says HandUp plans to grow its five-employee team, scale beyond San Francisco to help the homeless, and develop partnerships with shelters and non-profits.
Note: Watch an inspiring three-minute CNN video on this great program.
Pope Francis begged forgiveness [on July 7] in his first meeting with Catholics sexually abused by members of the clergy and went further than any of his predecessors by vowing to hold bishops accountable for their handling of pedophile priests. Abuse victims and their advocates have long demanded that higher-ups be made to answer for the decades-long cover-ups of rape and molestation of youngsters in a scandal that has rocked the church and dismayed its worldwide flock of 1.2 billion. "Before God and his people, I express my sorrow for the sins and grave crimes of clerical sexual abuse committed against you. And I humbly ask forgiveness," Francis said. But in speaking of accountability, he made no mention of what countless victims and their families around the globe have waited years to hear: whether bishops and other prelates who shuffled child-molesting priests from parish to parish or didn't inform police and prosecutors would be fired or demoted. The U.S.-based victims group SNAP, or the Survivors Network of those Abused by Priests, reacted skeptically. SNAP Director David Clohessy said, "Saying and doing are different things. The first is easy, the second is hard." Anne Barrett Doyle, a director of another victims advocacy group, BishopAccountability.org, said the pope's meeting with the three men and three women was still a positive step.
Note: For more on this, see concise summaries of deeply revealing sexual abuse scandals news articles from reliable major media sources.
Psychedelic mushrooms can do more than make you see the world in kaleidoscope. Research suggests they may have permanent, positive effects on the human brain. In fact, a mind-altering compound found in some 200 species of mushroom is already being explored as a potential treatment for depression and anxiety. People who consume these mushrooms, after “trips” that can be a bit scary and unpleasant, report feeling more optimistic, less self-centered, and even happier for months after the fact. But why do these trips change the way people see the world? According to a study published today in Human Brain Mapping, the mushroom compounds could be unlocking brain states usually only experienced when we dream, changes in activity that could help unlock permanent shifts in perspective. The study examined brain activity in those who’d received injections of psilocybin, which gives “shrooms” their psychedelic punch. After injections, the 15 participants were found to have increased brain function in areas associated with emotion and memory. The effect was strikingly similar to a brain in dream sleep, according to Dr. Robin Carhart-Harris, a post-doctoral researcher in neuropsychopharmacology at Imperial College London and co-author of the study. Administration of the drug just before or during sleep seemed to promote higher activity levels during Rapid Eye Movement sleep, when dreams occur. An intriguing finding, Carhart-Harris says, given that people tend to describe their experience on psychedelic drugs as being like “a waking dream.”
Note: For more on this, see concise summaries of deeply revealing mind altering drugs news articles from reliable major media sources.
At the pinnacle of a dizzying career, Indian-American rapper Nimesh “Nimo” Patel was haunted by an unshakeable sense of emptiness. In his mid-twenties, he abandoned the limelight and found himself meditating. An inner voice nudged him to radically simplify his life and find his purpose in service to others. He moved to the Gandhi Ashram in India and dedicated himself to the children in the surrounding slums. Seven years into his musical hiatus, something inside nudged Nimo to begin writing music again, but this time in a different spirit. Inspired by a global 21-Day Kindness Challenge, Nimo wrote and produced Being Kind. Together with a labor-of-love crew of volunteers, he co-created a zero-budget music video in one week as an offering of gratitude for the 5.9K participants across 98 countries who simultaneously committed to doing a unique act of kindness every day for 21 days in the spirit of “being the change” they wish to see in the world. A month and a half later, he did it again with Grateful, a musical offering inspired by the 11.5K participants and their small acts throughout the 21-Day Gratitude Challenge. Nimo has most recently embarked on a pilgrimage to bridge music, love and selfless service, through Empty Hands Music. As 14-year-old [Empty Hands volunteer] Priyanka puts it, “We are so, so busy behind getting money, behind getting power, that we forget why we are here. But that joy of spreading kindness, of spreading gratitude, is something that we will keep in our mind and heart until the time we die.”
Note: Watch the inspiring music video by Nimo titled "Keep Loving: A Universal Love Song."
Judy Fridono tells of how her dog Ricochet failed out of traditional service-dog training only to reveal a hidden talent: surfing with children with special needs. Fridono reveals the first time Ricochet hopped on a surfboard with Patrick Ivison, a quadriplegic teenager who surfed on his own with the help of a team of humans. Fridono had planned to make a video of Ricochet and Patrick surfing side-by-side, each on their own boards, to help raise money for Patrick’s treatment, but Ricochet had another idea. She wanted to surf tandem with Patrick. “Patrick, she wants to surf with you,” I said, not knowing where the words came from. “That’d be cool!” Patrick grinned. Here was a boy with a disability and I was asking him and his mother and their assembled team to put their trust in a dog. “All I can do is trust Ricochet to know what she’s doing,” I told them. “Can you trust my dog?” I asked 14-year-old Patrick. “Sure! Let’s do it!” he answered without hesitation. Patrick’s team lifted Patrick onto the board first. Then, we let Ricochet hop on the board, and she positioned herself. The team pushed Ricochet and Patrick out on the board together. Then, in one incredible moment, Ricochet and Patrick were surfing together on the same board, riding a wave of hope that changed their lives forever. Thanks to Ricochet’s fundraising, Patrick was able to get physical therapy at an innovative rehabilitation center for spinal cord injuries. In 2012, he walked across the stage at his high school graduation.
Note: Judy Fridono's book about this surfing dog is titled “Ricochet: Riding a Wave of Hope With the Dog Who Inspires Millions”.
NPR’s David Folkenflik has a revealing new look at ... one of the most important journalistic stories of the last decade: The New York Times‘ 2004 decision ... to suppress for 15 months (through Bush’s re-election) its reporters’ discovery that the NSA was illegally eavesdropping on Americans without warrants. This episode was one significant reason Edward Snowden purposely excluded the Times from his massive trove of documents. In an interview with Folkenflik, the paper’s new executive editor, Dean Baquet, describes the paper’s exclusion from the Snowden story as “really painful.” But ... Baquet has his own checkered history in suppressing plainly newsworthy stories at the government’s request, including a particularly inexcusable 2007 decision, when he was the managing editor of The Los Angeles Times, to kill a story based on AT&T whistleblower Mark Klein’s revelations that the NSA had built secret rooms at AT&T to siphon massive amounts of domestic telephone traffic. In his NPR interview, Baquet insists that he has had a serious change of heart on such questions as a result of the last year of NSA revelations: "[Baquet] says the experience has proved that news executives are often unduly deferential to seemingly authoritative warnings unaccompanied by hard evidence." Dean Baquet’s epiphany about the U.S. government and the American media ... is long overdue, but better late than never. Let us hope that it signals an actual change in behavior.
Note: For more on this, see concise summaries of deeply revealing media corruption news articles from reliable major media sources.
Statements made by NSA whistleblower Edward Snowden regarding the 9/11 terror attacks were edited out of his NBC Nightly News interview with Brian Williams ... in what appears to be an attempt to bolster legitimacy for the agency’s controversial surveillance programs. Snowden’s comments surrounding the failure of dragnet surveillance in stopping the 9/11 attacks were censored from the prime time broadcast and instead buried in an hour long clip on NBC’s website. "The CIA knew who these guys were. The problem was not that we weren’t collecting information, it wasn’t that we didn’t have enough dots, it wasn’t that we didn’t have a haystack, it was that we did not understand the haystack that we had.” NBC’s decision to bury Snowden’s comments are unsurprising given the fact that the 9/11 attacks are exhaustively used by the federal government as the prime justification for surveilling millions of innocent Americans. Snowden remarked on the government’s prior knowledge of the accused Boston bombers as well, also cut from the prime time interview. ‘We’re missing things like the Boston Marathon bombings where all of these mass-surveillance systems, every domestic dragnet in the world, didn’t reveal guys that the Russian intelligence service told us about by name,” Snowden said. Despite ... government officials pointing to 9/11 foreknowledge, whether missed or ignored, establishment media outlets have continually worked to keep such voices out of relevant reporting.
Note: We've never used globalresearch.ca as a top source respected by the general public, but as none of the major media is covering this critical information, we are making an exception here. For more on the Snowden case, see the deeply revealing reports from reliable major media sources available here.
Chipotle's ... vision is to change the way people think about and eat fast food. Nothing is more important to us than serving our customers fresh, delicious ingredients that are raised responsibly. Over the years, we have had great success serving the premium beef we call Responsibly Raised, which is produced according to high standards requiring, among other things, that animals be raised without hormones or antibiotics. Sometimes the existing supply of the premium meats we serve is unable to meet our growing demand. This has been the case recently with a portion of the steak we serve, as the size of the total U.S. cattle herd has shrunk to its lowest point in more than 60 years. Returning to grass-based farming systems for cattle is a core component of our long-term vision. Most livestock today spend much of their lives in conditions far from the natural ecosystems in which they evolved. Most cattle spend the latter part of their lives in feedlots, where they are fed grain like corn and soy. There's also evidence suggesting that grass-fed beef is healthier for the people who eat it, and when managed properly, easier on the environment. Over time, we hope that our demand for grass-fed beef will help pave the way for more American ranchers to adopt a grass-fed program. We want to encourage more American ranchers to make the transition to raising cattle entirely on grass.
Note: The above was written by Steve Ells, founder and Co-CEO of Chipotle Mexican Grill. It is great to see a major food company encouraging American farmers to transition out of the unsustainable and extremely unhealthy practice of factory-farming.
The 25 highest-paid hedge fund managers ... made a combined $21 billion in 2013. In particular, let’s think about how their good fortune refutes several popular myths about income inequality in America. Apologists for soaring inequality almost always try to disguise the gigantic incomes of the truly rich by hiding them in a crowd of the merely affluent. Instead of talking about the 1 percent or the 0.1 percent, they talk about the rising incomes of college graduates. The goal of this misdirection is to soften the picture, to make it seem as if we’re talking about ordinary white-collar professionals who get ahead through education and hard work. But many Americans are well-educated and work hard. The vast gulf that now exists between the upper-middle-class and the truly rich didn’t emerge until the Reagan years. Second, ignore the rhetoric about “job creators” and all that. Conservatives want you to believe that the big rewards in modern America go to innovators and entrepreneurs, people who build businesses and push technology forward. But that’s not what those hedge fund managers do for a living; they’re in the business of financial speculation. Once upon a time, you might have been able to argue with a straight face that all this wheeling and dealing was productive, that the financial elite was actually providing services to society commensurate with its rewards. But, at this point, the evidence suggests that hedge funds are a bad deal for everyone except their managers; they don’t deliver high enough returns to justify those huge fees, and they’re a major source of economic instability. We’re still living in the shadow of a crisis brought on by a runaway financial industry.
Note: For more on financial corruption, see the deeply revealing reports from reliable major media sources available here.
More than two months ago, a nasty mumps virus triggered fever, headache and painfully swollen glands among a handful of students at Ohio State University. Now the outbreak has ballooned to 234 cases at last count, and has spilled into the surrounding community in Columbus, Ohio. "Columbus officials are calling it the city's biggest outbreak since the development of the mumps vaccine in the 1940s," WOSU reporter Steve Brown [said]. "It even pushed them to open a new clinic." So far, most of those infected are students or workers at Ohio State, Brown says. And here's what's surprising: Many of those who got sick had previously been immunized against mumps via one of the top weapons against childhood diseases: the MMR vaccine. That's a two-dose shot most of us got when we were kids to protect against three diseases — measles, mumps and rubella. A young woman in New York caught the measles in 2011 even though she, too, had been vaccinated, scientists reported last week. "Measles Mary," as Science magazine her, also spread the virus to four others. Why can you still get the mumps and measles even if you're vaccinated? Measles is a terrific vaccine. If you get two doses, it's predicted to protect 99.99 percent of people for life. The mumps vaccine, on the other hand, is not so good. The protection rate varies from study to study. But it's usually in the mid-80s. Both vaccines, for mumps and measles, are tamed versions of the viruses. The viruses aren't killed but what we call attenuated, live viruses. The outbreak at Ohio State University is due to "vaccine failure," not declining immunization rates in the U.S.
Note: For more on major problems with many vaccines, see the deeply revealing reports from reliable major media sources available here.
Almost 600 years after Pope Nicholas V founded the Vatican Apostolic Library, the Holy See is now turning to 50 experts, five scanners and a Japanese IT firm to digitize millions of pages from its priceless manuscripts, opening them to the broader public for the first time. When the project is finished, one of the richest and most important collections of historical texts in the world will be available with a click of the mouse—and free. [The] institution known as the Popes' Library ... houses more than 82,000 manuscripts, some dating back to the second century. Scholars must now submit a detailed request to gain access to the library, which sits within the Vatican walls. The most precious works of art ... have been mostly off-limits. For the past year, Vatican officials have worked closely with experts at Japanese IT firm NTT DATA to test special scanners designed to handle particularly delicate documents. The machines have a protective screen to limit the manuscripts' exposure to light, and windows must remain shut and curtains drawn during the scanning procedure to keep dust and extraneous light out of the room. With the test phase finished, about 50 Italian and Japanese operators will soon begin the process of digitizing the first batch of 3,000 manuscripts under the watchful eye of Vatican librarians. That process, which will take place entirely inside the library, is expected to take four years. After each document is scanned, it will be formatted for long-term storage and then released onto the library's website. The first digital images are expected to be put online in the second half of this year.
Note: For a treasure trove of great news articles which will inspire you to make a difference, click here.
A German company, Biozoon, is working on a 3D-printed food extruder that creates food that literally melts in your mouth, allowing elderly patients with dysphagia – the inability to swallow – to eat without choking. Biozoon uses molecular gastronomy to create food that can be "printed" using a standard extruder-based printer. The food solidifies and is completely edible but when it's eaten it quickly dissolves in the mouth. Over 60% of older patients have problems swallowing. This could save lives by ensuring they don't aspirate food crumbs into their lungs. The product itself can be molded and extruded in different ways and you can add colorants and texturizers to make things look and taste almost like the real thing. The powder mixes [can be easily prepared] for new forms of nutrition. Starters, main courses, desserts and snacks can be made which meet individual requirements, are balanced and above all optically appealing. According to the website: "The powder mixtures ... enable universal implementation so that both family caregivers and professional cooks and nurses can easily make the new diets. Appetizers, main dishes, desserts and snacks can now [be] custom fit, balanced and also be made visually appealing." The product, called seneoPro, will be available for use in 3D printers this year. It is true "customized" food and it's a fascinating use of the technology.
Note: For a treasure trove of great news articles which will inspire you to make a difference, click here.
Mark Zuckerberg has decided he’s a $1-a-year man. Zuckerberg, who is Facebook Inc.’s chief executive officer and also the 22nd richest person in the world as ranked by the Bloomberg Billionaires Index, was paid $1 in salary for 2013, according to a regulatory filing with the U.S. Securities and Exchange Commission yesterday. That’s down from a base salary of $503,205 in 2012, the year that Facebook went public. Zuckerberg is following the well worn path of other Silicon Valley technology moguls who also chose to take on the symbolic annual salary of $1 after they were already wealthy. Apple Inc.’s late co-founder Steve Jobs helped popularize the practice, which is today also espoused by Google Inc. co-founders Larry Page and Sergey Brin, among others. All own sizable equity stakes in their own companies. Zuckerberg, whose wealth totals around $27 billion, owns Facebook shares that give him 61.6 percent of voting power in the Menlo Park, California-based social network, according to the filing. He saw his net worth balloon last year as Facebook’s stock more than doubled in value. The 29-year-old has ramped up his public service and philanthropy, including starting a group called Internet.org to connect the world to the Web. Zuckerberg’s total compensation last year was $653,165, down from $1.99 million in 2012. The amount, besides the $1 salary, was for the passenger fees, fuel, crew and catering costs for his use of private planes for personal reasons, as part of his security program, according to the filing. The CEO also made $3.3 billion last year after exercising stock options to purchase 60 million shares, according to the filing.
Note: For a treasure trove of great news articles which will inspire you to make a difference, click here.
Four years after President Obama promised to crack down on mortgage fraud, his administration has quietly made the crime its lowest priority and has closed hundreds of cases after little or no investigation, the Justice Department’s internal watchdog said on [March 13]. The report by the department’s inspector general undercuts the president’s contentions that the government is holding people responsible for the collapse of the financial and housing markets. The administration has been criticized, in particular, for not pursuing large banks and their executives. The inspector general’s report ... shows that the F.B.I. considered mortgage fraud to be its lowest-ranked national criminal priority. In several large cities, including New York and Los Angeles, F.B.I. agents either ranked mortgage fraud as a low priority or did not rank it at all. The F.B.I. received $196 million from the 2009 to 2011 fiscal years to investigate mortgage fraud, the report said, but the number of pending cases and agents investigating them dropped in 2011. Mortgage fraud was one of the causes of the 2008 financial collapse. Mortgage brokers and lenders falsified documents, sometimes to make mortgages look safer, other times to make the property look more valuable.
Note: For more on government collusion with the banking industry, see the deeply revealing reports from reliable major media sources available here.
New evidence shows that America’s obesity epidemic may be connected to our high consumption of [antibiotics]. Investigators are beginning to piece together a story about how gut bacteria shapes each life, beginning at birth, when infants are anointed with populations from their mothers’ microbiomes. Babies who are born by cesarean and never make that trip through the birth canal apparently never receive some key bugs from their mothers — possibly including those that help to maintain a healthy body weight. Children born by C-section are more likely to be obese in later life. Scientists are racing to take a census of the bugs in the human gut and — even more difficult — to figure out what effects they have on us. What if we could identify which species minimize the risk of diabetes, or confer protection against obesity? And what if we could figure out how to protect these crucial bacteria from antibiotics, or replace them after they’re killed off? The results could represent an entirely new pharmacopoeia, drugs beyond our wildest dreams: Think of them as “anti-antibiotics.” While researchers work to unravel the connections between antibiotics and weight gain, they should also put their minds toward reducing the unnecessary use of antibiotics. One way to do that would be to provide patients with affordable tests that give immediate feedback about what kind of infection has taken hold in their body. Such tools, like a new kind of blood test, are now in development and could help to eliminate the “just in case” prescribing of antibiotics.
Note: For more on important health issues, see the deeply revealing reports from reliable major media sources available here.
James Tague was standing in Dallas’s Dealey Plaza when the shots were fired on Nov. 22, 1963. A bullet presumably meant for Kennedy instead struck a curb near where Tague was standing and sent debris flying into his face. Tague’s daughter, Suanna Holloway, said her father died at his home 70 miles north of Dallas on Friday following a brief illness. He was 77. Tague’s experience at Dealey Plaza ultimately led Warren Commission investigators to conclude that one of the three shots missed and that one of the rounds went through both JFK and Texas Gov. John Connally. JFK researcher Debra Conway said the commission was initially going to settle with two shots hitting the president and one hitting the governor. But because Mr. Tague was near the missed shot and was wounded … they had to account for the missed shot,” said Conway, president of JFK Lancer, a historical research group. “Jim is a very important witness.” Critics of the Warren Commission have long questioned the so-called “magic bullet theory,” arguing that the bullet could not have traversed multiple layers and angles. Through the years, Tague’s own curiosity transformed him from eyewitness to JFK assassination researcher. He befriended other JFK assassination buffs, visited the National Archives to inspect evidence and amassed a huge collection of Kennedy-related books. Tague also authored two books, including last year’s LBJ and the Kennedy Killing in which he alleges a cover-up plot. “Personally, I’m urging young people to keep the truth alive,” he told Yahoo News.
Note: For more on the JFK assassination, see the deeply revealing reports from reliable major media sources available here.
When 7-year-old Owen Howkins met his new dog, Haatchi, he was a shy boy suffering from a rare syndrome that left his muscles permanently flexed and his mobility limited. When Haatchi met Owen, he was recovering from losing his left rear leg after being hit by a train in north London. For the boy in the wheelchair and the three-legged Anatolian Shepherd, it was an instant, soul-binding friendship, one that Owen says “changed my life.” In the video “A Boy and his Dog,” recently released on YouTube, Owen’s stepmother Colleen Drummond explains, “The day that Haatchi met Owen was utterly incredible. It was electric. It was spiritual…they immediately understood they were going to work together as a team.” Owen has a condition called Schwartz-Jampel syndrome, which his father, Will, explains leaves his muscles in a permanently flexed state. Because they never relax, it affects his balance and Owen uses a walker or wheelchair to get around. Now, Owen says, he and Hattachi “like going for walks in my electric wheelchair.” “His confidence has grown and grown this past year,” his father reports. Owen agrees. “Everything changed in my life with him,” he says, referring to Haatchi, who was rescued by the Royal Society for the Prevention of Cruelty to Animals. Among the many things Owen says Haatchi taught him is not to be afraid of strangers. Says Drummond, “Owen and Haatchi simplify everything by pure love.” Adds Owen, “Haatchi is my best friend.”
Note: Don't miss the touching, nine-minute video of this boy and his dog at this link. For a treasure trove of great news articles which will inspire you to make a difference, click here.
On a Saturday in September, more than 125 volunteers showed up with tools in hand and built six new 16-by-20-foot houses for a group of formerly homeless men. It was the beginning of Second Wind Cottages, a tiny-house village for the chronically homeless in the town of Newfield, N.Y., outside of Ithaca. On January 29, the village officially opened, and its first residents settled in. Each house had cost about $10,000 to build, a fraction of what it would have cost to house the men in a new apartment building. The project is part of a national movement of tiny-house villages, an alternative approach to housing the homeless that's beginning to catch the interest of national advocates and government housing officials alike. For many years, it has been tough to find a way to house the homeless. More than 3.5 million people experience homelessness in the United States each year, according to the National Law Center on Homelessness and Poverty. But Second Wind is truly affordable, built by volunteers on seven acres of land donated by Carmen Guidi, the main coordinator of the project. The retail cost of the materials to build the first six houses was somewhere between $10,000 and $12,000 per house, says Guidi. But many of the building materials were donated, and all of the labor was done in a massive volunteer effort. "We've raised nearly $100,000 in 100 days," he says, and the number of volunteers has been "in the hundreds, maybe even thousands now." The village will ultimately include a common house, garden beds, a chicken coop, and 18 single-unit cottages.
Note: For lots more on the tiny house movement, click here. For a treasure trove of great news articles which will inspire you to make a difference, click here.
A journalist filed a lawsuit [on February 18] alleging that Hartford [Connecticut] police officers violated his free-speech rights by questioning his use of a remote-controlled aircraft to record images of a car wreck. Pedro Rivera['s] complaint says that officers demanded that Rivera stop flying the remote-controlled aircraft, asked him to leave the area and told his employer that he had interfered with a police investigation. "I told them I was there on my personal time," said Rivera, who was suspended for a week from his on-call job with a Connecticut television station. "They went to my employer and caused a lot of problems for me and my job." The lawsuit ... seeks damages for Rivera but also asks the court to declare that he did not break any laws by operating the 2 1/2-pound, four-rotor aircraft above the scene of the fatal Feb. 1 wreck. It says that Rivera made clear he was not working for the television station, WFSB-TV, although he acknowledged that he occasionally sent the video feed from his drone to the station. "The suit is as much about trying to make sure police officers don't legislate from the beat as it is about getting a court to weigh in and say what the standards are," said Norm Pattis, the attorney for Rivera. Rivera, 29, of Hartford, argues in the lawsuit that police violated his First Amendment right to free expression as well as his Fourth Amendment right to be free from unreasonable seizures.
Note: This could be a key case which determines who has the right to use drones. Do we really want only the military and government to have the right to use them?
The deal was announced quietly, just before the holidays. The U.S. Justice Department granted a total walk to executives of the British-based bank HSBC for the largest drug-and-terrorism money-laundering case ever. They issued a fine $1.9 billion, or about five weeks' profit but they didn't extract so much as one dollar or one day in jail from any individual, despite a decade of stupefying abuses. For at least half a decade, the storied British colonial banking power helped to wash hundreds of millions of dollars for drug mobs, including Mexico's Sinaloa drug cartel, suspected in tens of thousands of murders just in the past 10 years. The bank also ... aided countless common tax cheats in hiding their cash. That nobody from the bank went to jail or paid a dollar in individual fines is nothing new in this era of financial crisis. What is different about this settlement is that the Justice Department, for the first time, admitted why it decided to go soft on this particular kind of criminal. It was worried that anything more than a wrist slap for HSBC might undermine the world economy. "Had the U.S. authorities decided to press criminal charges," said Assistant Attorney General Lanny Breuer at a press conference to announce the settlement, "HSBC would almost certainly have lost its banking license in the U.S., the future of the institution would have been under threat and the entire banking system would have been destabilized."
Note: For more on the collusion of government with the biggest, most corrupt banks, see the deeply revealing reports from reliable major media sources available here.
Important Note: Explore our full index to revealing excerpts of key 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.