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Coca-Cola Says Its Drinks Don't Cause Obesity -  Science Says Otherwise

These days, you almost have to feel sorry for soda companies. Sales of sugar-sweetened and diet drinks have been falling for a decade in the United States, and a recent Gallup Poll says 60 percent of Americans are trying to avoid drinking soda. In attempts to reverse these trends and deflect concerns about the health effects of sugary drinks, the soda industry invokes elements of the tobacco industry’s classic playbook: cast doubt on the science, discredit critics, invoke nanny statism and attribute obesity to personal irresponsibility.

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Don Blankenship Goes on Trial for Massey Mine Blast That Killed 29

Don Blankenship’s, the former CEO of Massey Energy Co., trial started yesterday in what NBC News describes as “the biggest corporate accountability case in years.” Blankenship resigned as CEO eight months after one of its mines exploded in West Virginia in 2010, killing 29 miners.

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Environmentalists Blast Obama's Decision to Let Shell Drill in Arctic

Last Monday, just weeks after he gave Royal Dutch Shell (NYSE:RDS.A) final approval to go ahead with its controversial plan to resume oil and gas drilling in the Arctic, President Obama greenlighted a request by the company to drill even deeper for oil than it ever has before. Granted through the Bureau of Safety and Environmental Enforcement, the approval lets Shell start drilling in the Arctic for the first time in since 2012, when it was forced to halt drilling operations amidst a series of accidents, culminating in the washing ashore of its drilling rig Kulluk on Sitkalidak, a pristine uninhabited island off the Alaskan coast.

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The 3 Most Asinine Corporate Arguments Against CEO-Worker Pay Disclosure

Regulators of the Great Depression era could teach their modern-day counterparts a few lessons in how to get things done. Consider, for example, how fast the Securities and Exchange Commission of that era was able to implement the first executive pay disclosure rules, compared to today’s bureaucratic foot-dragging.

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Robert Reich: The Disgusting Way Insider Traders Rig America and How Courts Let Them

A few years ago, hedge fund Level Global Investors made $54 million selling Dell Computer stock based on insider information from a Dell employee. When charged with illegal insider trading, Global Investors’ co-founder Anthony Chiasson claimed he didn’t know where the tip came from.

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Why We're Heading Towards Another Financial Crisis - And How It Will Play Out

Bloomberg financial reporter Bob Ivry has written an entertaining new book, “The Seven Sins of Wall Street,” which, instead of rehashing the various illegal activities that triggered the financial meltdown, focuses on what the banks have been up to since the crisis. Much of it would be familiar to readers of this space: the Bank of America whistle-blowers who were instructed to lie to homeowners, and received gift card bonuses for pushing them into foreclosure; the London Whale derivatives trade that lost JPMorgan Chase more than $6 billion; the investment banks who traded commodities while also operating physical commodity warehouses and facilities; and more. All the while, megabanks continue to enjoy subsidies on their borrowing costs because of the (accurate) perception that they will get bailed out in the event of any trouble.

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Obama and the SEC Could Make Large Political Contributions Public: Why Don't They?

In post-Citizens United America, there is growing concern that the ability for corporations to anonymously funnel money into politics – with no need to disclose these donations to voters, election officials or their own shareholders – will corrupt the political process. Democrats have previously tried and failed to pass the Disclose Act, which would require greater disclosure of donors – but with a divided Congress, many in Washington see bringing meaningful transparency to campaign finance an utterly impossible task.

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SEC Prosecutor Says SEC Top Brass Are Corrupt

Bloomberg News reported, on April 8, that a Securities and Exchange Commission prosecuting attorney, James Kidney, said at his recent retirement party on March 27, that his prosecutions of Goldman Sachs and other mega-banks had been squelched by top people at the agency, because they "were more focused on getting high-paying jobs after their government service than on bringing difficult cases." He suggested that SEC officials knew that Wall Street would likely hire them after the SEC at much bigger pay than their government remuneration was, so long as the SEC wouldn't prosecute those megabank executives on any criminal charges for helping to cause the mortgage-backed securities scams and resulting 2008 economic crash.

His "remarks drew applause from the crowd of about 70 people," according to the Bloomberg report. This would indicate that other SEC prosecutors feel similarly squelched by their bosses.

Kidney's speech said that his superiors did not "believe in afflicting the comfortable and powerful."

Referring to the agency's public-relations tactic of defending its prosecution-record by use of what he considered to be misleading statistics, Kidney said, "It's a cancer" at the SEC.

Two recent studies have provided additional depth to Kidney's assertions, by showing that Obama and his Administration had lied when they promised to prosecute Wall Street executives who had cheated outside investors, and deceived homebuyers, when creating and selling mortgage-backed securities for sale to investors throughout the world.

President Obama personally led in this lying.

On May 20, 2009, at the signing into law of both the Helping Families Save Their Homes Act and the Fraud Enforcement and Recovery Act, Obama said: "This bill nearly doubles the FBI's mortgage and financial fraud program, allowing it to better target fraud in hard-hit areas. That's why it provides the resources necessary for other law enforcement and federal agencies, from the Department of Justice to the SEC to the Secret Service, to pursue these criminals, bring them to justice, and protect hardworking Americans affected most by these crimes. It's also why it expands DOJ's authority to prosecute fraud that takes place in many of the private institutions not covered under current federal bank fraud criminal statutes — institutions where more than half of all subprime mortgages came from as recently as four years ago."

Then, in the President's Jan. 24, 2012 State of the Union Address, he said: "Tonight, I'm asking my Attorney General to create a special unit of federal prosecutors and leading state attorneys general to expand our investigations into the abusive lending and packaging of risky mortgages that led to the housing crisis. (Applause.) This new unit will hold accountable those who broke the law, speed assistance to homeowners, and help turn the page on an era of recklessness that hurt so many Americans. Now, a return to the American values of fair play and shared responsibility will help protect our people and our economy."

However, two years later, the Inspector General of the U.S. Department of Justice issued on March 13, 2014 its "Audit of the Department of Justice's Efforts to Address Mortgage Fraud," and reported that Obama's promises to prosecute turned out to be just a lie. DOJ didn't even try; and they lied even about their efforts. The IG found: "DOJ did not uniformly ensure that mortgage fraud was prioritized at a level commensurate with its public statements. For example, the Federal Bureau of Investigation (FBI) Criminal Investigative Division ranked mortgage fraud as the lowest criminal threat in its lowest crime category. Additionally, we found mortgage fraud to be a low priority, or not [even] listed as a priority, for the FBI Field Offices we visited." Not just that, but, "Many Assistant United States Attorneys (AUSA) informed us about underreporting and misclassification of mortgage fraud cases." This was important because, "Capturing such information would allow DOJ to ... better evaluate its performance in targeting high-profile offenders."

Privately, Obama had told Wall Street executives that he would protect them. On March 27, 2009, Obama assembled the top executives of the bailed-out financial firms in a secret meeting at the White House and he assured them that he would cover their backs; he promised "My administration is the only thing between you and the pitchforks". It's not on the White House website; it was leaked out, which is one of the reasons Obama hates leakers. What the DOJ's IG indicated was, in effect, that Obama had kept his secret promise to them.

Here is the context in which he said that (from page 234 of Ron Suskind's 2011 book, "Confidence Men"):

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Another Financial Crisis Is Looming - Here's Why and How It Will Play Out

Bloomberg financial reporter Bob Ivry has written an entertaining new book, “The Seven Sins of Wall Street,” which, instead of rehashing the various illegal activities that triggered the financial meltdown, focuses on what the banks have been up to since the crisis. Much of it would be familiar to readers of this space: the Bank of America whistle-blowers who were instructed to lie to homeowners, and received gift card bonuses for pushing them into foreclosure; the London Whale derivatives trade that lost JPMorgan Chase more than $6 billion; the investment banks who traded commodities while also operating physical commodity warehouses and facilities; and more. All the while, megabanks continue to enjoy subsidies on their borrowing costs because of the (accurate) perception that they will get bailed out in the event of any trouble.

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IRS, DOJ, SEC: Three-Letter Abbreviations For ‘Federal Bully’

Government entities that use three-letter abbreviations, like the Internal Revenue Service (IRS), Department of Justice (DOJ) and Securities and Exchange Commission (SEC) increasingly embody all the truant characteristics of playground bullies.

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Busted Vs. Bailed-Out: Should DEA and SEC Switch Jobs?

Pick up a quarter-pound of outdoor organic Purple Kush, split it four ways, and sell it to some friends, and you might find yourself ratted out by a narc. Put under police surveillance. Surreptitiously recorded by a confidential informant. Tailed home from work by an unmarked car. Until the cops kick down your door, shoot your dog and handcuff your kids. And that's just low-level local bullshit.

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