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.
For the past 10 years an unlikely coalition of geologists, oil drillers, bankers, military strategists and environmentalists has been warning that peak oil – the decline of global supplies – is just around the corner. We had some strong reasons for doing so: production had slowed, the price had risen sharply, depletion was widespread and appeared to be escalating. The first of the great resource crunches seemed about to strike. Some of us made vague predictions, others were more specific. In all cases we were wrong. Peak oil hasn't happened, and it's unlikely to happen for a very long time. ["Oil - The Next Revolution"] by the oil executive Leonardo Maugeri, published by Harvard University, provides compelling evidence that a new oil boom has begun. The constraints on oil supply over the past 10 years appear to have had more to do with money than geology. The low prices before 2003 had discouraged investors from developing difficult fields. The high prices of the past few years have changed that. Maugeri's analysis of projects in 23 countries suggests that global oil supplies are likely to rise by a net 17m barrels per day (to 110m) by 2020. This, he says, is "the largest potential addition to the world's oil supply capacity since the 1980s". The investments required to make this boom happen depend on a long-term price of $70 a barrel – the current cost of Brent crude is $95. Money is now flooding into new oil: a trillion dollars has been spent in the past two years; a record $600bn is lined up for 2012.
Some might call Neil Grimmer and his wife Tana Johnson picky eaters. For more than a decade, Grimmer, a triathlete, didn't eat meat or dairy while Johnson followed a macrobiotic diet, made up mostly of whole grains and vegetables. So when the couple became parents about nine years ago, they sought to feed their children healthy foods. Trouble was, they couldn't find snacks that were healthy, yet easy to pack and appealing to their kids. That's how the Nest Collective, now known as Plum Organics, was born. [The] startup makes baby food and toddler and kids' snacks such as pouches of pureed blueberry oats and quinoa for babies and squeezable oatmeal for older children. Plum Organics is also addressing increasing concerns about childhood obesity and parents looking for alternative, easy-to-pack snacks. In what turned out to be a momentous decision, the company moved away from the traditional plastic or glass jar and began offering baby food in the form of the squeezable pouch already popular with older children. The company took off from there. The benefit of the pouch is that it allows the food to be cooked more gently so that the flavors are richer, said Grimmer. The packaging also takes up less space in landfills and is easier to transport.
Wall Street has already watered down or delayed most of Dodd-Frank [financial reform act]. Now it wants to create a giant loophole, exempting its foreign branches from the law. Yet the overseas branches of Wall Street banks are where the banks have done some of their wilder betting. Four years ago, bad bets by American International Group's London office nearly unraveled the U.S. financial system. When the Commodity Futures Trading Commission, the main regulator of derivatives (bets on bets), recently proposed extending Dodd-Frank to the foreign branches of Wall Street banks, the banks screamed. "If JPMorgan overseas operates under different rules than our foreign competitors," warned Jamie Dimon, chairman and CEO of JPMorgan, Wall Street will lose financial business to the banks of nations with fewer regulations, allowing "Deutsche Bank to make the better deal." This is the same Jamie Dimon who chose London as the place to make highly risky derivatives trades that have lost the firm upward of $2 billion so far - and could leave American taxpayers holding the bag if JPMorgan's exposure to tottering European banks gets much worse. JPMorgan's risky betting in London is added proof that unless the overseas operations of Wall Street banks are covered by U.S. regulations, giant banks will hide irresponsible bets overseas. Squadrons of Wall Street lawyers and lobbyists have been pressing all the agencies charged with implementing Dodd-Frank to go easy on the Street.
Note: The author of this article, Robert Reich, is former U.S. secretary of labor, professor of public policy at UC Berkeley and the author of Aftershock: The Next Economy and America's Future. He blogs at www.robertreich.org.
Five of the biggest banks in the United States are putting finishing touches on plans for going out of business as part of government-mandated contingency planning that could push them to untangle their complex operations. The plans, known as living wills, are due to regulators no later than July 1 under provisions of the Dodd-Frank financial reform law designed to end too-big-to-fail bailouts by the government. The living wills could be as long as 4,000 pages. Since the law allows regulators to go so far as to order a bank to divest subsidiaries if it cannot plan an orderly resolution in bankruptcy, the deadline is pushing even healthy institutions to start a multi-year process to untangle their complex global operations, according to industry consultants. JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley are among those submitting the first liquidation scenarios to regulators at the Federal Reserve and the Federal Deposit Insurance Corp. The liquidation plans are coming amid renewed questions about the safety of big banks following JPMorgan's stunning announcement last month that a trading debacle has cost it more than $2 billion.
Note: For other key major media articles showing blatant financial corruption, click here. For more vitally important information on banking manipulations, explore the excellent, reliable information in our Banking Corruption Information Center available here.
President Barack Obama's campaign has recruited a legion of lawyers to be on standby for this year's election as legal disputes surrounding the voting process escalate. Thousands of attorneys and support staffers have agreed to aid in the effort, providing a mass of legal support that appears to be unrivaled by Republicans or precedent. Obama's campaign says it is particularly concerned about the implementation of new voter ID laws across the country, the possibility of anti-fraud activists challenging legitimate voters and the handling of voter registrations in the most competitive states. Republicans are building their own legal teams for the election. They say they're focused on preventing fraud -- making sure people don't vote unless they're eligible -- rather than turning away qualified voters. Since the disputed 2000 presidential election, both parties have increasingly concentrated on building legal teams -- including high-priced lawyers who are well-known in political circles -- for the Election Day run-up. The Bush-Gore election demonstrated to both sides the importance of every vote and the fact that the rules for voting and counting might actually determine the outcome. The Florida count in 2000 was decided by just 537 votes and ultimately landed in the Supreme Court.
Note: For key reports from major media sources on serious dysfunctions in the US elections process, click here.
Revelations that top officials are targeting people to be assassinated abroad, including American citizens, are only the most recent, disturbing proof of how far our nation’s violation of human rights has extended. This development began after [9/11] and has been sanctioned and escalated by bipartisan executive and legislative actions. While the country has made mistakes in the past, the widespread abuse of human rights over the last decade has been a dramatic change from the past. With leadership from the United States, the Universal Declaration of Human Rights was adopted in 1948 as “the foundation of freedom, justice and peace in the world.” This was a bold and clear commitment that power would no longer serve as a cover to oppress or injure people, and it established equal rights of all people to life, liberty, security of person, equal protection of the law and freedom from torture, arbitrary detention or forced exile. It is disturbing that, instead of strengthening these principles, our government’s counterterrorism policies are now clearly violating at least 10 of the declaration’s 30 articles, including the prohibition against “cruel, inhuman or degrading treatment or punishment.” Recent legislation has made legal the president’s right to detain a person indefinitely on suspicion of affiliation with terrorist organizations or “associated forces,” a broad, vague power that can be abused without meaningful oversight from the courts or Congress. This law violates the right to freedom of expression and to be presumed innocent until proved guilty, two other rights enshrined in the declaration.
Note: For revealing reports from major media sources on war crimes committed by US forces in the "global war on terror," click here.
In 1992, world leaders signed up to something called "sustainability". Few of them were clear about what it meant. Perhaps as a result, it did not take long for this concept to mutate into something subtly different: "sustainable development". Then it made a short jump to another term: "sustainable growth". And now, in the 2012 Rio+20 text that world leaders are about to adopt, it has subtly mutated once more: into "sustained growth". This term crops up 16 times in the document, where it is used interchangeably with sustainability and sustainable development. But if sustainability means anything, it is surely the opposite of sustained growth. Sustained growth on a finite planet is the essence of unsustainability. As a result, the draft document, which seems set to become the final document, takes us precisely nowhere: 190 governments have spent 20 years bracing themselves to "acknowledge", "recognise" and express "deep concern" about the world's environmental crises, but not to do anything about them. The draft and probably final declaration is 283 paragraphs of fluff. It suggests that the 190 governments due to approve it have, in effect, given up on multilateralism, given up on the world and given up on us. So what do we do now?
The Trans-Pacific Partnership (TPP) may soon be an acronym as recognizable as NAFTA — but this free trade venture could have much more economic strength and impact than its North American predecessor. The Trans-Pacific Partnership is a free trade deal aimed at further expanding the flow of goods, services and capital across borders. Its four founding members — New Zealand, Chile, Singapore and Brunei – soon caught the attention of five other nations: the United States, Australia, Peru, Vietnam and Malaysia, who joined in 2008. The nine partners currently have a combined GDP of more than $17 trillion. Canada and Mexico are now being considered for membership, subject to the approval of the nine countries already involved. Add to this the possibility that Japan could join the TPP, despite mounting protests in that country, and the economic and political traction of the group increases. In fact, the TPP could become the world's largest free-trade zone. "It's really a trade agreement for the one per cent and their corporate interests," said Maude Barlow, the National Chairperson of the Council of Canadians, which opposed and continues to criticize NAFTA. "This is not going to be a good deal for Canadians."
Note: A later Toronto Star article reveals that the agreements of the TPP are secret.
When Jamie Dimon, CEO of JPMorgan Chase Bank, appeared before the Senate Banking Committee on June 13, he was wearing cufflinks bearing the presidential seal. “Was Dimon trying to send any particular message by wearing the presidential cufflinks?” asked CNBC editor John Carney. “Was he . . . subtly hinting that he’s really the guy in charge?” The groveling of the Senators was so obvious that Jon Stewart did a spoof news clip on it. JPMorgan Chase is the biggest campaign donor to many of the members of the Banking Committee. Financial analysts Jim Willie and Rob Kirby think it may be something far larger, deeper, and more ominous. They contend that the $3 billion-plus losses in London hedging transactions that were the subject of the hearing can be traced, not to European sovereign debt (as alleged), but to the record-low interest rates maintained on U.S. government bonds. The national debt is growing at $1.5 trillion per year. Ultra-low interest rates must be maintained to prevent the debt from overwhelming the government budget. Near-zero rates also need to be maintained because even a moderate rise would cause multi-trillion dollar derivative losses for the banks, and would remove the banks’ chief income stream, the arbitrage afforded by borrowing at 0% and investing at higher rates. The low rates are maintained by interest rate swaps, called by Willie a “derivative tool which controls the bond market in a devious artificial manner.”
Note: We don't usually use alternet.org as a reliable source, but because the major media failed to ask the hard, very important questions posed in this article, we've included it here. For powerful reports on financial corruption, click here.
A U.N. investigator has called on the Obama administration to justify its policy of assassinating rather than capturing al Qaeda or Taliban suspects, increasingly with the use of unmanned drone aircraft that also take civilian lives. Christof Heyns, U.N. special rapporteur on extrajudicial, summary or arbitrary executions, urged Washington to clarify the basis under international law of the policy, in a report issued overnight to the United Nations Human Rights Council. The U.S. military has conducted drone attacks in Afghanistan, Iraq, Pakistan, Somalia and Yemen, in addition to conventional raids and air strikes, according to Heyns, a South African jurist serving in the independent post. Citing figures from the Pakistan Human Rights Commission, he said U.S. drone strikes killed at least 957 people in Pakistan in 2010 alone. Thousands have been killed in 300 drone strikes there since 2004, 20 percent of whom are believed to be civilians." Although figures vary widely with regard to drone attack estimates, all studies concur on one important point: there has been a dramatic increase in their use over the past three years," Heyns said. Human rights law requires that every effort be made to arrest a suspect, in line with the "principles of necessity and proportionality on the use of force", the investigator said.
Note: For lots more from reliable sources on the warcrimes committed by the US military, click here.
Native American tribes are celebrating a major victory in their battle for equal treatment after the US supreme court ruled that the government could no longer short-change them over contracts for public services. The suit claimed that the government had over many years withheld millions of dollars owed to the tribes by imposing a cap on the contracts it had taken out with them. Native American leaders hailed the ruling as an important victory. Rodger Martinez, president of the Ramah Navajo Chapter in New Mexico that was a plaintiff in the case, said they had been saddened that they had to go all the way to the supreme court to find redress. "But we are happy that they sided with us. This gets us back to the principle that the government must pay us what we are entitled to," he said. The dispute over money relates to services provided by the tribes themselves under the Indian Self-Determination Act of 1975. Under that law, the tribes would sub-contract from the federal government public services such as police, schools, fire prevention, hospitals, and infrastructure works, as well as environmental works and subsidies to farmers. Under the arrangement, the federal government would pay the tribes for the services provided, just as it would any other contractor. But from 1994 the government changed the way it paid for the services, no longer paying for each contract in full but handing the tribes a collective lump sum onto which it imposed a ceiling – thereby withholding from them a portion of the moneys owed. The supreme court ruling found this to be unacceptable.
Note: For key reports on government corruption from major media sources, click here.
Myanmar opposition leader Aung San Suu Kyi declared Saturday that the Nobel Peace Prize she won while under house arrest 21 years ago helped to shatter her sense of isolation and ensured that the world would demand democracy in her military-controlled homeland. Suu Kyi received two standing ovations inside Oslo’s city hall as she gave her long-delayed acceptance speech to the Norwegian Nobel Committee. The 66-year-old champion of political freedom praised the power of her 1991 Nobel honor both for saving her from the depths of personal despair and shining an enduring spotlight on injustices in distant Myanmar. “Often during my days of house arrest, it felt as though I were no longer a part of the real world,” she said. “What the Nobel Peace Prize did was to draw me once again into the world of other human beings, outside the isolated area in which I lived, to restore a sense of reality to me. ... And what was more important, the Nobel Prize had drawn the attention of the world to the struggle for democracy and human rights in Burma." Suu Kyi, who since winning freedom in 2010 has led her National League for Democracy party into opposition in Myanmar’s parliament, offered cautious support for the first tentative steps toward democratic reform in her country. But she said progress depended on continued foreign pressure on the army-backed government.
Note: It is inspiring to see the positive effect that the Nobel Peace Prize may have on the state of the world. Unfortunately it does not always do so, as is evident with the prizes given to strategists of global war such as Henry Kissinger.
There's been a lot of speculation about the cufflinks [JPMorgan Chase CEO] Jamie Dimon wore during [his Congressional] testimony. They caught the eye of folks because they seemed to bear some sort of official government stamp. As it turns out, they were emblazoned with the seal of the President of the United States. CNN's Lizzie O'Leary first confirmed the story last night over Twitter. They were, in fact, a gift from a resident of the White House. But people close to the JPMorgan Chase CEO won't say which president gave them to him. Dimon's got a bunch of official U.S. government cufflinks. Search for images of him and you'll see FBI cufflinks, for example. Was Dimon trying to send any particular message by wearing the presidential cufflinks? Was he, for instance, trying to remind the Democrats he supported Obama? Or subtly hinting that he's really the guy in charge?
Note: For powerful reports on financial corruption, click here.
The average American family's net worth dropped almost 40% between 2007 and 2010, according to a triennial study released [on June 11] by the Federal Reserve. The stunning drop in median net worth -- from $126,400 in 2007 to $77,300 in 2010 -- indicates that the recession wiped away 18 years of savings and investment by families. The results ... highlight the marked deterioration in household finances brought on by the financial crisis and ensuing recession. Much of the drop off in net worth -- to levels not seen since 1992 -- was attributable to a sharp decline in housing values, the Fed said. In 2007, the median homeowner had a net worth of $246,000. Three years later that number had fallen to $174,500, a loss of more than $70,000 on average. Making matters worse, income levels also fell during the tumultuous three-year period, with median pre-tax income falling 7.7% as earnings from capital gains all but disappeared. The loss of income and net worth appears to have impacted savings rates, as the number of Americans who said they saved in the prior year fell from 56.4% in 2007 to 52.0% in 2010 -- the lowest level recorded since the early 1990s. Families in the top 10% of income actually saw their net worth increase over the period, rising from a median of $1.17 million in 2007 to $1.19 million in 2010. Middle-class families who ranked in the 40th to 60th percentile of income earners reported that their median net worth fell from $92,300 to $65,900 over the same time period.
Note: What this article fails to emphasize sufficiently is that while most people have lost vast amounts of wealth, the wealthiest 1% has grown incredibly richer even through the recession. Is something wrong here? For key reports from reliable sources on wealth inequality, click here.
Anti-Mafia prosecutors have asked the secretive Vatican Bank to disclose details of an account held by a priest in connection with a money laundering and fraud investigation. The official request was made more than a month ago but so far the Vatican Bank, known as the Institute for Religious Works, has refused to disclose any records of the account held by father Ninni Treppiedi – who is currently suspended from serving as a priest. Investigators want to know more about vast sums of money that are said to have passed through his account to establish if they were money laundering operations by [the fugitive] Mafia Godfather, Matteo Messina Denaro. The reports emerged in the Italian media and came just two weeks after the head of the Vatican Bank, Ettore Gotti Tedeschi, was sacked amid claims of power struggles and corruption within the Holy See which have been linked to the leaking of sensitive documents belonging to Pope Benedict XVI. It is not the first time that the Vatican Bank has been embroiled in claims of Mafia money laundering. Thirty years ago this month financier Roberto Calvi was found hanging under London's Blackfriars Bridge with cash and bricks stuffed into his pockets. Initially City of London police recorded the death as suicide but Italian authorities believe it was murder after it emerged Calvi, known as God's Banker because of his links to the Vatican Bank, had been trying to launder millions of pounds of mob money via its accounts and through his own Banco Ambrosiano which had collapsed spectacularly.
Note: For deeply revealing reports from reliable major media sources on institutional secrecy, click here.
For decades, a handful of teachers at the Horace Mann school, an elite prep school in the Bronx [in New York City], sexually abused both their male and female students with various levels of impunity, according to the exposé [in the New York Times Magazine] by screenwriter Amos Kamil. In the article, Kamil, a Horace Mann alumnus, recalls his friends and classmates privately confiding in him the abuse that they endured at the hands of their teachers. Very few of the victims ever reported the abuse, instead resorting to silence, apathy, therapy, alcohol and even suicide. On the two occasions when complaints were made, the offenders were swiftly relieved of their duties; but as Kamil alleges, the school took no action to investigate other similar crimes or to address the mental or other needs of the victims. The case is the latest in a series of New York-area school sex abuse scandals that have come to light lately. At Poly Prep, a prestigious Brooklyn private school, a former football coach was accused of preying on boys in his charge while the school administration turned a blind eye. In April, a former math teacher at Riverdale County School in the Bronx was arrested on charges of sexually abusing a teenaged student. Meanwhile, several New York City public school teachers have been arrested for sexually assaulting students, sparking a district-wide investigation.
Note: For revealing reports from major media sources on the prevalence of sexual abuse scandals in institutional settings, click here. For powerful evidence from a suppressed Discovery Channel documentary showing that child sexual abuse scandals reach to the highest levels of government, click here.
Dominique Moceanu was the youngest member of the celebrated "Magnificent 7" gymnasts who won team gold at the 1996 Olympic Games. But behind the broad smile and shining medals she hid heartache and pain inflicted by some of the people she trusted the most. Moceanu would ultimately file for emancipation from her parents when she was 17, and got a restraining order against her father. After an injury quashed her bid for the 2000 Olympics, she went to college and was married in 2006 to a fellow gymnast named Mike Canales. She became pregnant with her first child soon after her marriage to Canales. But two weeks before giving birth, Moceanu learned some shocking news. She received a package containing a letter and photos of a young woman who looked surprisingly similar to her younger sister Christina. Reading the letter, she learned that the 20-year-old woman, named Jen Bricker, had been adopted and had recently learned that her birth name was Moceanu. "It was the biggest bombshell of my life," Dominique Moceanu remembered. "I had this sister that was born who was given up for adoption, and I never knew it." When Moceanu reached out to her new sister, Bricker [told her] "Oh by the way. I have no legs. But people forget that within minutes of meeting me." Five years later, they have met many times and have developed a friendship and bond that only sisters could have. They're athletic, do gymnastics -- Bricker even competed in the Junior Olympics -- and have discovered other striking similarities.
Note: For a touching video on this showing the amazing gymnastic abilities and inspiring can-do attitude of this woman with no legs, click here.
Derek Amato is one of just 30 “acquired savants” worldwide. Each discovered an inexplicable ability that was unleashed after an incident. Amato was 40 years old [when he hit his head hard after diving into the shallow end of a pool]. “I remember the impact being really loud. I knew I was hurt badly,” he described in a Science Channel documentary. He was taken to the hospital with a serious concussion, and suffered some memory loss and hearing loss. After the accident, Amato visited a friend who had a keyboard and felt inexplicably drawn to the instrument. He sat down to play and beautiful, fully structured, original music flowed from his hands. He played until 2 a.m. “I could not only play and compose, but I would later discover that I could recall a prior played piece of music as if it had been etched in my minds eye,” [Amato said]. Though he had dabbled in the guitar before, he’d never touched a piano. Rare cases like this open up a whole new realm of scientific exploration, as scientists investigate how this can happen. The big question is: do we all have this superhuman ability built in, if we could just tap into it and release it? Amato [reported] that though he still gets painful migraines and has lost 35% of his hearing, it’s well worth it. Amato left his corporate job and became a professional musician.
Note: Watch a fascinating video of Derek's story.
An investigation by the Department of Health and Human Services' Office of the Inspector General found that many providers of immunizations meant for low-income children don't store the vaccines at proper temperatures, potentially rendering them ineffective and placing children at risk for contracting serious diseases. Inspectors visited the offices of 45 providers in five states who offered free immunizations as part of the government's Vaccines for Children Program. Nationwide, about 44,000 offices and clinics participate in the program. The investigation found that 76 percent of the providers stored the vaccines at temperatures that were either too hot or too cold. They also found that 13 providers stored expired vaccines along with nonexpired vaccines. "As a result, the 20,252 VFC vaccine doses that we observed during site visits may not provide children with maximum protection against preventable diseases and may be vulnerable to fraud, waste and abuse," according to the report. "These doses were worth approximately $800,000."
Note: The videos available on the ABC webpage above are also very revealing about the dangers of vaccines. For excellent summaries of other revealing media articles raising serious questions about the risks and dangers of vaccines, click here.
How aware are plants? This is the central question behind a fascinating new book, What a Plant Knows, by Daniel Chamovitz, director of the Manna Center for Plant Biosciences at Tel Aviv University. Chamovitz unveils the surprising world of plants that see, feel, smell—and remember. Just because we don’t see plants moving doesn’t mean that there’s not a very rich and dynamic world going on inside the plant. People have to realize that plants are complex organisms that live rich, sensual lives. Plants had to develop incredibly sensitive and complex sensory mechanisms that would let them survive in ever changing environments. [A plant] can mount a defense when under siege, and warn its neighbors of trouble on the way. A plant can even be said to have a memory. If a maple tree is attacked by bugs, it releases a pheromone into the air that is picked up by the neighboring trees. This induces the receiving trees to start making chemicals that will help it fight off the impending bug attack. So on the face of it, this is definitely communication.
Note: This article only touches the surface of a rich world of research suggesting that plant life is much more complex and miraculous than we might imagine. For more, explore the landmark book The Secret Life of Plants or the work of researcher Cleve Backster.
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.