News StoriesExcerpts of Key News Stories in Major Media
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The world's super-rich have taken advantage of lax tax rules to siphon off at least $21 trillion, and possibly as much as $32tn, from their home countries and hide it abroad – a sum larger than the entire American economy. James Henry, a former chief economist at consultancy McKinsey and an expert on tax havens, has conducted groundbreaking new research for the Tax Justice Network campaign group – sifting through data from the Bank for International Settlements (BIS), the International Monetary Fund (IMF) and private sector analysts to construct an alarming picture that shows capital flooding out of countries across the world and disappearing into the cracks in the financial system. "This offshore economy is large enough to have a major impact on estimates of inequality of wealth and income; on estimates of national income and debt ratios; and – most importantly – to have very significant negative impacts on the domestic tax bases of 'source' countries," Henry says. John Christensen of the Tax Justice Network [commented] "Inequality is much, much worse than official statistics show, but politicians are still relying on trickle-down to transfer wealth to poorer people. This new data shows the exact opposite has happened: for three decades extraordinary wealth has been cascading into the offshore accounts of a tiny number of super-rich." In total, 10 million individuals around the world hold assets offshore, according to Henry's analysis; but almost half of the minimum estimate of $21tn – $9.8tn – is owned by just 92,000 people.
Note: Henry's report, entitled The Price of Offshore Revisited, is available here. For more on this, click here.
The first systematic look at the New York police department's response to Occupy Wall Street protests paints a damning picture of an out-of-control and aggressive organization that routinely acted beyond its powers. In a report that followed an eight-month study, researchers at the law schools of NYU and Fordham accuse the NYPD of deploying unnecessarily aggressive force, obstructing press freedoms and making arbitrary and baseless arrests. The study ... found evidence that police made violent late-night raids on peaceful encampments, obstructed independent legal monitors and was opaque about its policies. The NYPD report is the first of a series to look at how police authorities in five US cities, including Oakland and Boston, have treated the Occupy movement since it began in September 2011. The research concludes that there now is a systematic effort by authorities to suppress protests, even when these are lawful and pose no threat to the public. Sarah Knuckey, a professor of law at NYU, said: "All the case studies we collected show the police are violating basic rights consistently, and the level of impunity is shocking". To be launched over the coming months, the reports are being done under the Protest and Assembly Rights Project, a national consortium of law school clinics addressing America's response to Occupy Wall Street.
Note: For lots more from reliable major media sources on government threats to civil liberties and other types of government corruption, click here and here.
California's parks system stashed away nearly $54 million even as it was cutting services and threatening to close parks, a revelation that prompted the resignation of the department's director. The hoarded cash remained untapped while the California Department of Parks and Recreation painted a dire picture of the system's health, soliciting hundreds of thousands of dollars in donations in what was thought to be a desperate scramble to keep facilities open. The state attorney general's office has launched an investigation into the hidden surplus, which officials believe the department concealed from state bookkeepers, the governor and the Legislature for at least a dozen years, dating to the tenure of Gray Davis. State auditors found the extra money in two funds, one intended to finance the purchase and upkeep of properties for off-road vehicle recreation, the other for general park maintenance and restoration. The money came from user fees, rentals and fines. The state planned to close 70 parks this month to save $22 million, less than half the amount of the department's hidden surplus. Elizabeth Goldstein, president of the California State Parks Foundation, called Friday's news "truly disturbing and appalling. People inside the department have not been honest about the resources that have been available to them." The surplus "doesn't prevent the crisis that is currently underway; it may help minimize it," Goldstein said. "This money will not solve the overall parks crisis that has been building for decades."
Note: To learn how governments secretly stash large amounts of cash which very few know about, read the CAFR webpage at this link. For lots more from reliable major media sources on government corruption, click here.
The former head of Anglo Irish Bank, Sean FitzPatrick, has been arrested by Irish police in connection with alleged financial irregularities at the bank. He is the third former senior executive from Anglo Irish Bank to appear in court within the past 24 hours. All three men face 16 charges in relation to an alleged failed attempt to prop up Anglo's share price after a stock market collapse. Anglo was nationalised at a cost of about 30bn euros (Ł23.4bn) to Irish taxpayers. Anglo was badly exposed by the bursting of the Irish property bubble and suffered the largest corporate loss in the history of the Republic of Ireland. It is the third time Mr FitzPatrick has been arrested as part of the three-and-a-half year long investigation into the collapse of Anglo Irish Bank. Willie McAteer - the second in command at the bank before his resignation in January 2009 - appeared in court alongside Pat Whelan, a former head of lending and operations at the bank. The former bank is being wound down and is currently being run by the Irish Bank Resolution Corporation Limited (IBRC).
Note: For deeply revealing and reliable major media reports on corruption and criminality in the operations and regulation of the financial sector, click here.
Anthony V. Mangione, the former chief of U.S. Immigration and Customs Enforcement in South Florida, plans to plead guilty rather than go to trial next month on Internet child-pornography charges, according to a federal court filing. It is customary for federal defendants who plead guilty to receive lower sentences after they accept responsibility and forego trial. Still, each of the charges accusing Mangione of transporting and receiving images of minors engaging in sexually explicit conduct carries a minimum-mandatory sentence of five years. Mangione ... served as an agent with ICE for 27 years. During the past decade, ICE aggressively targeted child pornography, with Mangione frequently speaking out against predators who illegally share images through their computers. As the special agent in charge of ICEs South Florida office between 2007 and 2011, Mangione often praised the agencys efforts against child pornography in both the cyber and real worlds.
Note: To learn about documented sexual abuse in secret CIA mind control programs, click here. For deeply revealing and reliable major media reports on sexual abuse, click here.
In January of this year, health and nutrition blogger Steve Cooksey received a disturbing letter from the North Carolina Board of Dietetics/Nutrition. The letter contained a 19-page markup of Cooksey’s own blog, highlighting in handwritten red pen an extensive series of changes the Board demanded that Cooksey make. He had to make these changes, the Board censors told him, or he would face arrest. Specifically, the Board censors said, he had to remove or change all writing they construed as constituting “nutrition advising” or “nutrition counseling” without a license. Forbes was granted exclusive first-look at a new series of internal documents, freshly leaked by outraged members within the Academy of Nutrition and Dietetics [formerly the American Dietetic Association, or ADA], the professional association behind the NC State Board of Dietetics/Nutrition which censored Cooksey. In these newly-available internal documents, [the ADA]: Openly discusses creating and using state boards of dietetics/nutrition ... for the express purpose of limiting market competition for its Registered Dietitian members; [and] openly discusses a nation-wide plan of surveilling and reporting private citizens, and particularly all competitors on the market for nutrition counseling, for “harming the public” by providing nutrition information/advice/counseling without a license.
Note: For lots more from reliable major media sources on government corruption, click here.
More than a decade has passed since Mitt Romney presided over the Winter Olympics in Salt Lake City, but the archival records from those games that were donated to the University of Utah to provide an unprecedented level of transparency about the historic event, remain off limits to the public. And some of the documents that may have shed the most light on Romney's stewardship of the Games were likely destroyed by Salt Lake Olympic officials. The archivists involved in preparing the documents for public review told ABC News that financial documents, contracts, appointment calendars, emails and correspondence are likely not included in the 1,100 boxes of Olympic records, and will not be part of the collection that will ultimately be made public. The Salt Lake City Winter Olympics represent a crucial chapter in the Romney biography -- his selection to oversee the Games came in the wake of a bribery scandal. Romney ... frequently cites the experience as part of what qualifies him to assume the presidency. But the absence of publicly available records that detail the decisions he made while running the games has increasingly become an uneasy subject for the library, which has for months been receiving inquiries from journalists and other researchers trying to subject Romney's version of the events to an analysis based on documents from the events. Romney [has] already faced criticism for his decisions to keep secret some of his past tax records and some details about his investment holdings.
Note: For lots more from reliable major media sources on institutional secrecy, click here.
Four eyewitnesses on the hotel staff told me Willard Mitt Romney was here at Bilderberg 2012. Romney's office initially refused to confirm or deny his attendance as Bilderberg is "not public". His people later said it wasn't him. So, was he being crowned, or singing for his supper? Will Mitt Romney follow in the august footsteps of Clinton, Cameron and Blair to have attended Bilderberg and then shortly become leader? Did Romney have to get down on one knee in front of David Rockefeller? This sounds flippant, but it's a serious question: has Bilderberg switched allegiance? The Washington Post saw Bill Gates come in. And I've got three eyewitnesses from inside who confirmed he was here. You won't see the names Mitt Romney or Bill Gates on the officially released Final List of Participants because, well, the list is a nonsense. It's nothing like a complete list of people who attend Bilderberg. It's a smokescreen, a bit of spin. To those gathered outside, at least, it looks increasingly like, at this year's Bilderberg, the war of regime change got signed off. In the airport lobby, on the way home from Bilderberg, I looked up at a TV monitor to see Bilderberg attendee and CFR board member Fouad Ajami talking about how Syria is about to become another Libya. That sound you can hear? It's all those juicy defence contracts being scratched out around Chantilly. Fuel the jets and open the champagne, boys. We're going in.
Note: For a special Guardian webpage listing all articles related to the Bilderberg Group, click here. For incredibly revealing major media articles on the Bilderberg Group and other powerful secret societies, click here.
A 14-year-old Maine girl named Julia Bluhm [has] mobilized more than 80,000 supporters to lobby Seventeen [magazine] to commit to [a] modest goal: printing one photo spread per issue without an unaltered image. Bluhm’s efforts are part of Sexualization Protest: Action, Resistance, Knowledge or SPARK, a girl-fueled activist movement that is demanding an end to the sexualization of women and girls in media. In the magazine’s August issue, Seventeen editor Ann Shoket responded to the campaign with a carefully worded statement that vowed that the magazine will “never change girls’ body or face shapes” and will publish only images of “real girls and models who are healthy.” [This] represents a meaningful victory for young women seeking reality-based images in a seemingly unwinnable war against big publishing, big advertising and big fashion. Images of blemish-free cover models displaying skeletal arms, enhanced chests and disappearing waistlines are a time-honored magazine tradition. The breakthrough success of Bluhm’s campaign represents ... the beginning of a new era of female empowerment. Bluhm started her movement on the online organizing site Change.org, which allows users to share electronic petitions with their social networks. When petitions like Bluhm’s rally significant support, the site offers the additional assistance of its expert organizing staff and broad activist network. Now, with the momentum of a successful campaign, Bluhm and her peers have turned their attention to transforming the policies of other magazines, including Teen Vogue and Cosmo Girl.
Note: For a treasure trove of inspirational reports from major media sources, click here.
Regulators on both sides of the Atlantic failed to act on clear warnings that the Libor interest rate was being falsely reported by banks during the financial crisis, it emerged last night. A cache of documents released yesterday by the New York Federal Reserve showed that US officials had evidence from April 2008 that Barclays was knowingly posting false reports about the rate at which it could borrow in order to assuage market concerns about its solvency. An unnamed Barclays employee told a New York Fed analyst, Fabiola Ravazzolo, on 11 April 2008: "So we know that we're not posting, um, an honest Libor." He said Barclays started under-reporting Libor because graphs showing the relatively high rates at which the bank had to borrow attracted "unwanted attention" and the "share price went down". The verbatim note of the call released by the Fed represents the starkest evidence yet that Libor-fiddling was discussed in high regulatory circles years before Barclays' recent Ł290m fine. The New York Fed said that, immediately after the call, Ms Ravazzolo informed her superiors of the information, who then passed on her concerns to Tim Geithner, who was head of the New York Fed at the time. Mr Geithner investigated and drew up a six-point proposal for ensuring the integrity of Libor which he presented to the British Bankers Association, which is responsible for producing the Libor rate daily. Mr Geithner, who is now US Treasury Secretary, also forwarded the six-point plan to the Governor of the Bank of England, Sir Mervyn King.
Note: For deeply revealing reports from reliable major media sources on regulatory and financial corruption and criminality, click here. For our highly revealing Banking Corruption Information Center, click here.
The global bank HSBC has been used by Mexican drug cartels looking to get cash back into the United States, by Saudi Arabian banks that needed access to dollars despite their terrorist ties and by Iranians who wanted to circumvent United States sanctions, a Senate report says. The 335-page report released [on July 16] also says that executives at HSBC and regulators at the Office of the Comptroller of the Currency ignored warning signs and failed to stop the illegal behavior at many points between 2001 and 2010. The problems at HSBC, Europe's largest financial institution, [are] indicators of a broader problem of illegal money flowing through international financial institutions into the United States. The report on HSBC is the latest of several scandals that have recently rocked global banks and highlighted the inability of regulators to catch what is claimed to be widespread wrongdoing in the financial industry. The British bank Barclays recently admitted that its traders tried to manipulate a crucial global interest rate, and multiple major banks are under investigation. JPMorgan Chase disclosed last week that its employees may have tried to hide trades that are likely to cost the bank billions of dollars. The Office of the Comptroller of the Currency has come under particularly harsh criticism for showing too much deference to the banks it regulates.
Note: For deeply revealing reports from reliable major media sources on regulatory and financial corruption and criminality, click here. For our highly revealing Banking Corruption Information Center, click here.
Motorists may have been paying too much for their petrol because banks and other traders are likely to have tried to manipulate oil prices in the same way they rigged interest rates, an official report has warned. Concerns are growing about the reliability of oil prices, after a report for the G20 found the market is wide open to “manipulation or distortion”. Traders from banks, oil companies or hedge funds have an “incentive” to distort the market and are likely to try to report false prices, it said. Petrol retailers use oil price “benchmarks” to decide how much to pay for future supplies. The rate is calculated by data companies based on submissions from firms which trade oil on a daily basis – such as banks, hedge funds and energy companies. However, like Libor ... the market is unregulated and relies on the honesty of the firms to submit accurate data about all their trades. This is one of the major concerns raised in the G20 report, published last month by the International Organisation of Securities Commissions (IOSCO). In the study for global finance ministers, including George Osborne, the regulator warns that traders have opportunities to influence oil prices for their own profit. It points out that the whole market is “voluntary”, meaning banks and energy companies can choose which trades to make public. IOSCO says this “creates opportunity for a trader to submit a partial picture in order to influence the [price] to the trader’s advantage”.
Note: For deeply revealing reports from reliable major media sources on regulatory and financial corruption and criminality, 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.
A new study in the New England Journal of Medicine finds men who opt to surgically remove their prostate gland - a procedure called a radical prostatectomy - are no less likely to die than men who choose wait and monitor their symptoms to see if the cancer progresses. The study adds to the ongoing debate surrounding prostate-specific antigen (PSA) testing and whether the tests pick up cancers that may be too slow-growing to ever cause a problem. In May, the U.S. Preventive Services Task Force ... reported in its final recommendation that healthy men of all ages should not take a PSA test because the potential harms from a positive test outweigh the benefits from catching the cancer early. The researchers found that out of 364 men who had their prostate removed, 171 died (47 percent), and 21 of those men (6 percent) died from prostate cancer or treatment. In comparison, 183 of 367 people who were assigned for watchful waiting died (50 percent), and 31 of the men died from prostate cancer (8 percent). The differences between groups were not statistically significant, meaning prostate cancer surgery did not significantly reduce the men's risk of dying from the cancer or any cause, as compared with the observation approach. Within two years of surgery, the researchers found that 81 percent of the men who underwent the procedure experienced erectile dysfunction, 17 percent had urinary incontinence with symptoms such as "dribbling" or having "no control over urine," and 12 percent reported bowel dysfunction.
Note: For revealing reports from reliable major media sources on health issues, click here.
In 1998, officials at Penn State, including its president and its legendary football coach, were aware Jerry Sandusky was being investigated by the university’s police department for possibly molesting two young boys in the football building’s showers. They followed the investigation closely, updating one another along the way. The officials did nothing. No one so much as spoke to Mr. Sandusky. Last month, Mr. Sandusky, for three decades one of Joe Paterno’s top coaching lieutenants, was convicted of sexually attacking 10 young boys, nine of them after the 1998 investigation, and several of them in the same football building showers. Louis J. Freeh, the former federal judge and director of the F.B.I. who spent the last seven months examining the Sandusky scandal at Penn State, issued a damning conclusion [on July 12]: The most senior officials at Penn State had shown a “total and consistent disregard” for the welfare of children, had worked together to actively conceal Mr. Sandusky’s assaults, and had done so for one central reason: fear of bad publicity. That publicity, Mr. Freeh said, would have hurt the nationally ranked football program, Mr. Paterno’s reputation as a coach of high principles, the Penn State “brand” and the university’s ability to raise money as one of the most respected public institutions in the country.
Note: For deeply revealing reports from reliable major media sources on institutional sexual abuse, 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.
Efforts to write benefits for biotech seed companies into U.S. legislation, including the new Farm Bill, are sparking a backlash from groups that say the multiple measures would severely limit U.S. oversight of genetically modified crops. From online petitions to face-to-face lobbying on Capitol Hill, an array of consumer and environmental organizations and individuals are ringing alarm bells over moves they say will eradicate badly needed safety checks on crops genetically modified to withstand herbicides, pests and pesticides. The measures could speed the path to market for big biotech companies like Monsanto and Dow Chemical that make billions of dollars from genetically altered corn, soybeans, cotton and other crops. "They are trying to change the rules," said George Kimbrell, senior attorney at the Center for Food Safety, which has lawsuits pending against government regulators for failing to follow the law in approving certain biotech crops. "It is to the detriment of good governance, farmers and to the environment." As early as next week the U.S. House of Representatives could take up one of the more controversial measures - a provision included in the 2013 Agriculture Appropriations bill known as Section 733 that would allow biotech crops to be planted even if courts rule they were approved illegally. Opponents call it the "Monsanto Rider" because Monsanto's genetically altered alfalfa and sugar beets have been subject to court challenges for illegal regulatory approvals.
Note: For deeply revealing reports from reliable major media sources on the dangers of genetically modified organisms, click here. Multiple reliable sources show that you may be eating genetically modified food daily which scientific experiments have repeatedly demonstrated can cause sickness and even death in lab animals. Click here to verify.
The Department of Homeland Security will soon be using a laser at airports that can detect everything about you from over 160 feet away. This laser-based scanner ... could read everything from a person’s adrenaline levels, to traces of gun powder on a person’s clothes, to illegal substances — and it can all be done without a physical search. It also could be used on multiple people at a time, eliminating random searches at airports. The scanner is called the Picosecond Programmable Laser. The device works by blasting its target with lasers which vibrate molecules that are then read by the machine that determine what substances a person has been exposed to. The inventor of this invasive technology is Genia Photonics. Active since 2009, they hold 30 patents on laser technology designed for scanning. In 2011, they formed a partnership with In-Q-Tel, a company chartered by the CIA and Congress to build “a bridge between the Agency and a new set of technology innovators.” Although the technology could be used by “Big Brother,” Genia Photonics states that the device could be far more beneficial being used for medical purposes to check for cancer in real time, lipids detection, and patient monitoring.
Note: For deeply revealing reports from reliable major media sources on government threats to privacy, click here.
On February 2, 2011, President Obama called Yemeni President Ali Abdullah Saleh. The two discussed counterterrorism cooperation and the battle against Al Qaeda in the Arabian Peninsula. At the end of the call, according to a White House read-out, Obama “expressed concern” over the release of a man named Abdulelah Haider Shaye, whom Obama said “had been sentenced to five years in prison for his association with AQAP.” It turned out that Shaye had not yet been released at the time of the call, but Saleh did have a pardon for him prepared and was ready to sign it. But ... Abdulelah Haider Shaye is not an Islamist militant or an Al Qaeda operative. He is a journalist. Shaye risked his life to travel to areas controlled by Al Qaeda and to interview its leaders. He also conducted several interviews with the radical cleric Anwar al Awlaki. Shaye did the last known interview with Awlaki just before it was revealed that Awlaki, a US citizen, was on a CIA/JSOC hit list. “We were only exposed to Western media and Arab media funded by the West, which depicts only one image of Al Qaeda,” recalls his best friend Kamal Sharaf, a well-known dissident Yemeni political cartoonist. “But Abdulelah brought a different viewpoint.” Shaye had no reverence for Al Qaeda, but viewed the group as an important story, according to Sharaf.
Note: We generally avoid using sources with a strong bias like The Nation, but as none of the other major media have touched this most important story, we're including it here. For more on this revealing story, click here and here
For generations, most college-bound Americans paid reasonable fees to attend publicly financed state universities. But the bedrock of that system is fracturing as cash-strapped states slash funding to these schools just as attendance has soared. Places like Ohio State, Penn State and the University of Michigan now receive less than 7 percent of their budgets from state appropriations. As a result, public universities — which historically have graduated the majority of U.S. college students — are eliminating programs, raising tuition and accepting more out-of-state students, who typically pay significantly higher rates. The upshot of it all? Students face greater competition for admission, significantly higher tuition bills and bigger debt loads upon graduation. The state cutbacks also mean students are attending larger classes, frequently taught by part-time professors earning dismal salaries. In 2009, less than a quarter of all university faculty were full-time, compared with 45 percent in 1975, according to the American Association of University Professors. State and local spending for public university students dropped to a 25-year low in 2011. Tuition and fees at public, four-year colleges have jumped by more than 70 percent on average over the last decade. Those costs hit $8,240 in 2011-12, up from $4,790 in 2001-02.
Note: Is the military more important than education? Why do huge military budgets continue to be well funded while educational budgets are slashed? Is this the future we want to give our children?
Media manipulation currently shapes everything you read, hear and watch online. Everything. In the old days, we only had a few threats to fear when it came to media manipulation: the government propagandist and the hustling publicist. They exploited the fact that the media was trusted and reliable. Today, with our blog and web driven media cycle, nothing can escape exaggeration, distortion, fabrication and simplification. Media manipulation is the status quo. It becomes, as Daniel Boorstin, author [of] The Image: A Guide to Pseudo-Events in America, once put it, a "thicket ... which stands between us and the facts of life." Today the media -— driven by blogs -— is assailed on all sides, by the crushing economics of their business, dishonest sources, inhuman deadlines, pageview quotas, inaccurate information, greedy publishers, poor training, the demands of the audience, and so much more. These incentives are real, whether you’re the Huffington Post or CNN or some tiny blog. They warp everything you read online. Everyone is in on the game, from bloggers to non-profits to marketers to the New York Times itself. And when everyone is running the same racket, the line between the real and the fake becomes indistinguishable. Media manipulation exploits the difference between perception and reality. This all happens because of the poor incentives. When readers don’t PAY for news, the creators of the news don’t have any loyalty to the readers. To combat these manipulations, we must change the incentives. If we want loyalty to the truth, we must be loyal to the people who provide us with it. This probably means paying for information in one form or another.
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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.