News StoriesExcerpts of Key News Stories in Major Media
Note: This comprehensive list of news stories is usually updated once a week. Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.
Da Ying "David" Sze walked out of a four-story concrete warehouse in Queens, New York, carrying several bags full of money. Federal agents had been surveilling him for months. They suspected him of leading a gang of money launderers whose clients included Chinese fentanyl dealers. Most of that business had been conducted at one institution: TD Bank. When investigators looked closer at the bank, they realized Sze wasn't the only criminal who'd made TD their depository of choice. There was the group from Manhattan's Diamond District using bogus gold sales to launder money. The Colombian drug traffickers using TD debit cards to bring their US profits back home. And the human trafficking ring that claimed to be an HVAC company when it opened an account. The more investigators looked at TD, the more money laundering they found. Last year, TD's American subsidiary became the first US bank ever to plead guilty to conspiracy to commit money laundering. The company agreed to pay $3.1 billion in fines to various parts of the federal government, a sum that included the biggest penalty ever levied by the Department of Justice under the Bank Secrecy Act, the main US anti-money-laundering law. More than two dozen people, including three bank employees, have already been charged. US authorities have also imposed an asset cap on TD's American retail operations, limiting their size indefinitely. This is among the most feared punishments in banking.
Note: Read our Substack on the dark truth about the war on drugs. For more along these lines, read our concise summaries of news articles on financial industry corruption and the war on drugs.
If economic inequality increases within a country, the risk of civil war breaking out grows. This is the finding from a study by the Chair of Economic History at the University of TĂĽbingen. The study has been published in the Review of Income and Wealth. The calculations revealed a statistically significant connection between unequal distribution of income and the outbreak of civil wars. The results can be verified using historical events: for example, land was extremely unequally distributed in Russia before the October revolution of 1917–and this critically contributed to the outbreak of revolution and civil war, a marker that was also identified by the new benchmark with a correspondingly high probability. The new benchmark also makes it possible to predict the risk of civil war today: "In the U.S. the inequality in income distribution has risen sharply in the past 30 years. Accordingly, the risk of a civil war in the U.S. has risen drastically from 10% to 21%," says Baten. In Great Britain, China, India and Russia too, inequality has risen greatly in the same period. "We've checked what influence other variables had on the outbreak of civil wars," says Laura Radatz, co-author of the study. "For instance, the size of a country and its population naturally increase the probability that a civil war will break out somewhere in this country." The amount of economic growth in a country does not measurably influence the risk of a civil war, according to the study.
Note: For more along these lines, read our concise summaries of news articles on financial inequality.
Even when the economy appears to be booming, millions struggle to stay afloat. In a recent poll from Demand Progress, 81.6 percent of voters surveyed said they want leaders who break up monopolies, compared to just 47.3 percent who prioritize cutting government red tape. This poll suggests that the public supports a populist approach that confronts corporate power more than an abundance agenda that sidesteps it. It reflects a growing recognition: while bureaucratic inefficiencies certainly exist, corporations are blocking our abundance because scarcity is profitable. The scarcity that so many Americans feel in their daily lives is not by accident, it's by design. Companies block abundance by strategically reducing output and access to goods and services. Artificial scarcity is a business strategy. One that prioritizes profit maximization over widespread availability, ensuring that demand consistently outstrips supply. This deliberate restriction allows companies to command higher prices. Concentration makes it easier to manufacture scarcity. When a few large players dominate the market, they can manipulate the fundamental dynamics of supply and demand and charge high economic rents. This is made possible by an economic and political system that corporations have spent decades reshaping to suit their needs. As a result, we live in an economy that has quietly redefined freedom as the power of the wealthy to set the terms for the rest.
Note: For more along these lines, read our concise summaries of news articles on corporate corruption and financial inequality.
In her new book, Bad Company: Private Equity and the Death of the American Dream, journalist and WIRED alum Megan Greenwell chronicles the devastating impacts of one of the most powerful yet poorly understood forces in modern American capitalism. Flush with cash, largely unregulated, and relentlessly focused on profit, private equity firms have quietly reshaped the US economy, taking over large chunks of industries ranging from health care to retail–often leaving financial ruin in their wake. Twelve million people in the US now work for companies owned by private equity, Greenwell writes, or about 8 percent of the total employed population. It is very hard for private equity firms to lose money on deals. They're getting a 2 percent management fee, even if they're running the company into the ground. They're also able to pull off all these tricks, like selling off the company's real estate and then charging the company rent on the same land it used to own. When private equity firms take out loans to buy companies, the debt from those loans is assigned not to the private equity firm but to the portfolio company. It is just not about improving the company at all. It is about, how do we extract money? There was a huge expansion of private equity in the 2010s for the same reason that venture capital exploded: There was a lot of cheap money out there, and cheap money is great for investors.
Note: For more along these lines, read our concise summaries of news articles on financial industry corruption.
A few dozen people gathered inside a graffiti-clad building in the Carabanchel district of Madrid. They had come to commiserate about the American investment banks and private equity funds that controlled their homes. Some at this meeting of the Sindicato de Vivienda de Carabanchel (the Carabanchel Housing Union) were fighting eviction orders or skyrocketing rents. Others had lost their homes through mortgage foreclosures. One attendee, Elsa Riquelme, described her yearslong battle to stay in the 600-square-foot apartment where she raised her three sons, which is now owned by Blackstone, the world's largest private equity firm. Over the past decade, Blackstone has become Madrid's largest private owner of residential real estate, and the second largest in all of Spain. Ms. Riquelme's apartment is one of 13,000 that Blackstone currently owns in Madrid, and among 19,600 it owns nationwide. Across Spain, around 185,000 rental properties are now owned by large corporations, half of those by firms based in the United States. Rental prices have increased 57 percent since 2015 and home prices 47 percent ... even as more than 4 million homes sit empty. After the pandemic pushed Spain's unemployment rate up to 15 percent, evictions nationwide spiked. In Madrid, tenant groups estimate that 20,000 renters in the city currently face the threat of eviction. These days, just 2 percent of Spanish homes available for rent are public housing. In France it's 14 percent; in the Netherlands it's 34 percent.
Note: This article is also available here. For more along these lines, read our concise summaries of news articles on corporate corruption and financial inequality.
BlackRock, the world's biggest asset management company, faces a complaint at the Organization for Economic Co-operation and Development (OECD) for allegedly contributing to environmental and human rights abuses around the world through its investments in agribusiness. Friends of the Earth US and the Articulation of Indigenous Peoples of Brazil accuse BlackRock of increasing investments in companies that have been implicated in the devastation of the Amazon and other major forests despite warnings that this is destabilising the global climate, damaging ecosystems and violating the rights of traditional communities. The influence of BlackRock is enormous. It manages more than $11tn in assets, more than the combined government spending of the world's 10 wealthiest countries. To support their complaint, Friends of the Earth investigated publicly available data on BlackRock's shareholdings ... in 20 agribusiness companies that have been implicated in environmental and human rights abuses, operating in the palm oil, pulp/paper, soy, cattle, timber and biomass sectors. It found BlackRock has more than $5bn invested in these companies, an increase since 2019 of $519m. In each of the companies is it a top 10 shareholder. Conservation organisations and Indigenous peoples have repeatedly asked BlackRock to stop financing companies that deforest the Amazon and violate communities' land rights.
Note: For more along these lines, read our concise summaries of news articles on financial industry corruption and environmental destruction.
BlackRock Inc.'s annual proxy statement devotes more than 50 pages to executive pay. How many of those are useful in understanding why Chief Executive Officer Larry Fink was compensated to the tune of $37 million for 2024? Not enough. The asset manager's latest remuneration report has heightened significance because BlackRock's shareholders delivered a rare and large protest vote against its pay framework at last year's annual meeting. That followed recommendations ... to withhold support for the so-called say-on-pay motion. In the wake of the rebuke, a board committee responsible for pay and perks took to the phones and hit the road to hear shareholders' gripes. Investors wanted more explanation of how the committee members used their considerable discretion in arriving at awards. There was also an aversion to one-time bonuses absent tough conditions. Incentive pay is 50% tied to BlackRock's financial performance, with the remainder split equally between objectives for "business strength" and "organizational strength." That financial piece was previously described using a non-exhaustive list of seven financial metrics. Now there are eight, gathered under three priorities: "drive shareholder value creation," "accelerate organic revenue growth" and "enhance operating leverage." There's no weighting given to the three financial priorities. The pay committee says Fink "far exceeded" expectations, but those expectations weren't quantified.
Note: For more along these lines, read our concise summaries of news articles on financial industry corruption.
U.S. regulators are preparing to ease key financial requirements for Wall Street – a win for the industry's largest banks, which have long pushed for looser restrictions. The Federal Reserve and two other agencies are expected as soon as next month to propose easing requirements for certain financial buffers that banks use to absorb losses. It would mark a significant step to ease capital standards for the biggest banks. The work has been endorsed by Fed Chair Jerome H. Powell, as well as the Trump administration, which has made deregulation a key economic goal. Currently, the highly technical rules in question do not distinguish between risky loans and ultrasafe assets banks hold such as U.S. Treasury securities. Banks and some regulators say the requirements have had unintended consequences, forcing firms to hold more capital or reduce their holdings of low-risk assets. Critics say this has inadvertently harmed the functioning of the nearly $30 trillion market for U.S. Treasury bonds, the bedrock of the global financial system that plays a critical role in financing U.S. budget deficits. They say banks that are required to manage to the ratio are inadvertently discouraged from buying or selling U.S. Treasury securities. Banks say relief is important, since the Treasury market is forecast to grow dramatically over the next 10 years, with government deficits and the rising cost of interest payments pushing the market to about $50 trillion.
Note: For more along these lines, read our concise summaries of news articles on corruption in government and in the financial industry.
A former housing official who worked under President George H. W. Bush has made an astonishing claim that the U.S. government spent years funneling money into the creation of a secret underground "city" where the rich and powerful can shelter in the event of a "near-extinction event." Catherine Austin Fitts ... served as the assistant secretary of Housing and Urban Development for Housing between 1989 and 1990. Fitts ... cited research by Michigan State University economist Mark Skidmore, who released a report in 2017 stating that he and a team of scholars had uncovered $21 trillion in "unauthorized spending in the departments of Defense and Housing and Urban Development for the years 1998-2015." According to Fitts, who worked as an investment banker before joining Bush's administration, that money was used to fund the development of what she described as an "underground base, city infrastructure and transportation system" that has been kept hidden from the public. She [said] that she spent two years researching where the $21 trillion had gone, alleging that she uncovered evidence that there are 170 secret facilities in the U.S. alone, explaining that she and a team of investigators combed through "all the data and all the allegations on underground bases" in order to make a "guess" as to how many might exist. Additionally, Fitts alleged that several of these bases are located beneath oceans–not just underground.
Note: Read more about the groundbreaking work of Mark Skidmore and Catherine Austin Fitts. For more along these lines, read our concise summaries of news articles on military corruption and government waste.
The Electronic Frontier Foundation (EFF) and a nonprofit privacy rights group have called on several states to investigate why "hundreds" of data brokers haven't registered with state consumer protection agencies in accordance with local laws. An analysis done in collaboration with Privacy Rights Clearinghouse (PRC) found that many data brokers have failed to register in all of the four states with laws that require it, preventing consumers in some states from learning what kinds of information these brokers collect and how to opt out. Data brokers are companies that collect and sell troves of personal information about people, including their names, addresses, phone numbers, financial information, and more. Consumers have little control over this information, posing serious privacy concerns, and attempts to address these concerns at a federal level have mostly failed. Four states – California, Texas, Oregon, and Vermont – do attempt to regulate these companies by requiring them to register with consumer protection agencies and share details about what kind of data they collect. In letters to the states' attorneys general, the EFF and PRC say they "uncovered a troubling pattern" after scraping data broker registries. They found that many data brokers didn't consistently register their businesses across all four states. The number of data brokers that appeared on one registry but not another includes 524 in Texas, 475 in Oregon, 309 in Vermont, and 291 in California.
Note: For more along these lines, read our concise summaries of news articles on Big Tech and the disappearance of privacy.
The blockchain is a revolution that builds on another technical revolution so old that only the more experienced among us remember it: the invention of the database. IBM's database model stood unchanged until about 10 years ago, when the blockchain came into this conservative space with a radical new proposition: What if your database worked like a network – a network that's shared with everybody in the world, where anyone and anything can connect to it? Blockchain experts call this "decentralization." Decentralization offers the promise of nearly friction-free cooperation between members of complex networks that can add value to each other by enabling collaboration without central authorities and middle men. In a world without middle men, things get more efficient in unexpected ways. A 1% transaction fee may not seem like much, but down a 15-step supply chain, it adds up. These kinds of little frictions add just enough drag on the global economy that we're forced to stick with short supply chains and deals done by the container load, because it's simply too inefficient to have more links in the supply chain and to work with smaller transactions. The decentralization that blockchain provides would change that, which could have huge possible impacts for economies in the developing world. Any transformation which helps small businesses compete with giants will have major global effects.
Note: This article is also available here. Watch our 13 minute video on the promise of blockchain technology. Explore more positive stories like this on reimagining the economy and technology for good.
Look at the modus operandi of today's internet giants – such as Google, Facebook, Twitter, Uber, or Airbnb – and you'll notice they have one thing in common: They rely on the contributions of users as a means to generate value within their own platforms. All of the profits are captured by the large intermediaries who operate the platforms. Recently, a new technology has emerged that could change this imbalance. Blockchain facilitates the exchange of value in a secure and decentralized manner, without the need for an intermediary. With a blockchain, software applications no longer need to be deployed on a centralized server: They can be run on a peer-to-peer network that is not controlled by any single party. These blockchain-based applications can be used to coordinate the activities of a large number of individuals, who can organize themselves without the help of a third party. Blockchain technology is ultimately a means for individuals to coordinate common activities, to interact directly with one another, and to govern themselves in a more secure and decentralized manner. New forms of organizations ... which have no director or CEO, or any sort of hierarchical structure – are administered, collectively, by all individuals interacting on a blockchain. And since there is no intermediary operator, the value produced within these platforms can be more equally redistributed among those who have contributed to the value creation.
Note: This article is also available here. Watch our 13 minute video on the promise of blockchain technology. Explore more positive stories like this on reimagining the economy and technology for good.
No toilets, expensive food of dubious quality, crowded housing. This was the reality for many in 1840s Britain. Something had to change. And the Rochdale Pioneers knew it. The group of 28 artisans and cotton weavers ... wanted to start a co-operative society in order to provide their community with affordable and unadulterated food. Their small grocery shop started by selling only flour, sugar, oatmeal and butter and opened just before Christmas 1844. Any profit was shared among member-owners. With this, the co-operative movement took root. Today, these businesses employ some 280 million people around the world – 10% of the employed population. Approximately 3m co-ops with an astonishing 1.2bn members, more than an eighth of the world's population, exist internationally. Shared Interest is a UK-based social lender that supports farmers and handcraft producers in 47 countries around the world. From sphagnum moss farmers in Peru to coffee farmers in Rwanda, the organisation provides finance for smallholder communities that collectively provide around a third of the world's food but are often stuck in cycles of poverty. Uganda-based coffee producer Bukonzo Organic Farmers Cooperative Union (BOCU), which Shared Interest has supported since 2014 ... negotiates prices, undertakes marketing and manages export on behalf of 13 smaller primary co-ops. Having this tiered system is crucial for small-scale farmers who don't speak English.
Note: Explore more positive stories like this on reimagining the economy.
Across the country, armed federal immigration officers have increasingly hidden their identities while carrying out immigration raids, arresting protesters and roughing up prominent Democratic critics. Mike German, a former FBI agent, said officers' widespread use of masks was unprecedented in US law enforcement and a sign of a rapidly eroding democracy. "Masking symbolizes the drift of law enforcement away from democratic controls," he said. The Department of Homeland Security (DHS) has insisted masks are necessary to protect officers' privacy, arguing, without providing evidence, that there has been an uptick in violence against agents. "It is absolutely shocking and frightening to see masked agents, who are also poorly identified in the way they are dressed, using force in public without clearly identifying themselves," [said German]. "Our country is known for having democratic control over law enforcement. When it's hard to tell who a masked individual is working for, it's hard to accept that that is a legitimate use of authority. The recent shootings of two Democratic lawmakers in Minnesota, by a suspect who allegedly impersonated an officer, highlights the danger of police not looking like police. Federal agents wearing masks and casual clothing significantly increases this risk of any citizen dressing up in a way that fools the public into believing they are law enforcement so they can engage in illegal activity."
Note: For more along these lines, read our concise summaries of news articles on police corruption and the erosion of civil liberties.
From facial recognition to predictive analytics to the rise of increasingly convincing deepfakes and other synthetic video, new technologies are emerging faster than agencies, lawmakers, or watchdog groups can keep up. Take New Orleans, where, for the past two years, police officers have quietly received real-time alerts from a private network of AI-equipped cameras, flagging the whereabouts of people on wanted lists. In 2022, City Council members attempted to put guardrails on the use of facial recognition. But those guidelines assume it's the police doing the searching. New Orleans police have hundreds of cameras, but the alerts in question came from a separate system: a network of 200 cameras equipped with facial recognition and installed by residents and businesses on private property, feeding video to a nonprofit called Project NOLA. Police officers who downloaded the group's app then received notifications when someone on a wanted list was detected on the camera network, along with a location. That has civil liberties groups and defense attorneys in Louisiana frustrated. "When you make this a private entity, all those guardrails that are supposed to be in place for law enforcement and prosecution are no longer there, and we don't have the tools to ... hold people accountable," Danny Engelberg, New Orleans' chief public defender, [said]. Another way departments can skirt facial recognition rules is to use AI analysis that doesn't technically rely on faces.
Note: Learn about all the high-tech tools police use to surveil protestors. For more along these lines, read our concise summaries of news articles on AI and police corruption.
In Leavenworth, Kansas ... a group of locals sat on squeaky folding chairs at the public library to discuss their mission: How to stop a private prison behemoth from warehousing immigrants down the road. Prisons are the largest employer in this community. But when CoreCivic applied earlier this year for a permit in Leavenworth to reopen a prison with a troubled history to hold immigration detainees, city officials balked. And local residents – including some former prison employees – pushed back. Local organizer (and cookie baker) Rick Hammett suggested to the crowd that political and corporate interests had stirred fears of immigrants ahead of the 2024 election cycle to benefit private prisons. "To be profitable, private prison firms must ensure that prisons are not only built but also filled," Hammett said. "Which is how you end up with a scare tactic over migrants to drum up a reason to put people in jail." In early June, U.S. Immigration and Customs Enforcement reported the most immigrant arrests in a single day in its history: More than 2,200 people. When CoreCivic previously operated the Leavenworth Detention Center, Tina Shonk-Little was detained there for about 16 months for insurance fraud. She described for the crowd that night at the Leavenworth library how medical and dental care in the facility was scant. A week after Trump was elected, CoreCivic leadership began contacting Leavenworth city officials about reopening their facility there.
Note: Watch our Mindful News Brief on how the US government facilitates child trafficking at the border. For more along these lines, read our concise summaries of news articles on corruption in the prison system and in immigration enforcement.
The grooming and serial rape of thousands of English girls by men of mostly Pakistani Muslim background over several decades is the biggest peacetime crime in the history of modern Europe. It is still going on. And there has been no justice for the vast majority of the victims. Every level of the British system is implicated in the cover-up. Social workers were intimidated into silence. Local police ignored, excused, and even abetted pedophile rapists across dozens of cities. Senior police and Home Office officials deliberately avoided action in the name of maintaining what they called "community relations." Local councilors and Members of Parliament rejected pleas for help from the parents of raped children. Charities, NGOs, and Labour MPs accused those who discussed the scandal of racism and Islamophobia. A 2014 inquiry estimated that 1,400 girls had been serially raped in Rotherham alone. The suffering described in ... court papers is sickening to read: The girls were drugged, beaten, sodomized, gang-raped, trafficked, and tortured. Welfare workers admit that they failed to report crimes because the police told them they would be accused as racist. In multiple cases, local Labour politicians of Pakistani background interfered with police inquiries. "No justice, no peace" is a common slogan among the activist class that chose not to act against the rape gangs. There will be no peace in Britain until the full truth is known.
Note: For more along these lines, read our concise summaries of news articles on government corruption and sexual abuse scandals.
Prime Minister Christopher Luxon is fronting media after a walkabout with police in central Auckland. Earlier, the Prime Minister encouraged people with information about allegations of a paedophile ring in the 1980s to come forward to police. It follows the release of the final report from the Royal Commission into abuse in care, which referenced allegations of offending against children by politicians and public servants in the 1980s. The report states it received "deeply suspicious" evidence but it was "unable to make a finding that organised abuse of children and young people in State care occurred by groups of people in public positions of influence". The long-awaited Royal Commission report into abuse in state and faith-based institutions was released on Wednesday. It found an estimated 200,000 people out of 655,000 in care were abused and many more neglected. The true number will never be known because some records were never created, had been lost or, in some cases, destroyed. The "unimaginable" abuse was widespread between 1950 and 2019 – and amounted to a "national disgrace". Violence and sexual abuse were common, and in some cases children and young people were "trafficked" to members of the public for sex. "Instead of receiving care and support, children, young people and adults in care were exposed to unimaginable physical, emotional, mental and sexual abuse, severe exploitation and neglect," the report says.
Note: This article is also available here. Watch an excellent segment by Australia's "60-Minutes" team "Spies, Lords and Predators" on a pedophile ring in the UK which leads directly to the highest levels of government. A second suppressed documentary, "Conspiracy of Silence," goes even deeper into this topic in the US. For more, read our concise summaries of news articles on sexual abuse scandals.
Andre Daigle, 27, went missing on June 9, 1987, after a night of drinks and pool with friends, following which, the New Orleans resident was never seen alive again. Four days later, Andre's sister Elise, who lived out in California, went to psychic Rosemarie Kerr of Cypress with her brother's photo, whose body and killers were found 13 days later thanks to the clairvoyant. In researching the validity of psychics in police work, Euro Weekly News came across a highly surprising and unexpected 5-page US DoJ report published in 1993 entitled "Psychics and Police Work." "The usefulness of psychics in police investigations is controversial, but psychics have long been and will undoubtedly continue to be involved in unsolved criminal investigations," it reads. The Department of Justice document compares the work of psychics and detectives, saying "both base their work on intuition to some extent, and then they specifically mention one psychic who they say helped police in thousands of cases." In an August 2000 CIA document entitled "Use of Psychics in Law Enforcement," the US intelligence agency acknowledged that psychics have been helpful to police in many cases and outlined some guidelines on when and how to deal with them. "Psychics have provided information that was helpful to law enforcement, contributing to the successful resolution of cases," the CIA confirms. "Using psychics can be legitimate when traditional methods fail."
Note: Explore our resources on remote viewing programs. For more, read our concise summaries of news articles on the mysterious nature of reality.
The CIA claimed to have confirmed the existence of the Ark of the Covenant by way of remote viewing – aka extra sensory perception or ESP – alleging the mysterious and sacred object is guarded by "entities" with an "unknown" power, a recently resurfaced declassified document claims. When a remote viewer is tasked with searching for a target, the desired object is written down on a piece of paper and put into an envelope. The remote viewer does not know what is written and is guided through the process by another person, retired US Army Chief Warrant Joe McMoneagle explained. McMoneagle, aka remote viewer #1, was the first to do the psychic phenomena experiments for the CIA. Remote viewer #32's vision described a secret Middle Eastern location of the object – which they don't know is the Ark – but they say is "protected by entities," the document reveals. "Target is a container. This container has another container inside of it. The target is fashioned of wood, gold and silver... similar in shape to a coffin and is decorated with seraphim," they relayed, per the file. "The target is protected by entities and can only be opened by those who are authorized to do so – this container will not/cannot be opened until the time is deemed correct," they said. "The purpose of the target is to bring people together. It has something to do with ceremony, memory, homage, the resurrection. There is an aspect of spirituality, information, lessons and historical knowledge," they said.
Note: Explore our resources on remote viewing programs. For more, read our concise summaries of news articles on the mysterious nature of reality.
Important Note: Explore our full index to revealing excerpts of key major media news stories on several dozen engaging topics. And don't miss amazing excerpts from 20 of the most revealing news articles ever published.