Archive for the ‘Bad Business’ Category
Lawmaker Seeks FBI Files On Financial Crash; Wants To See Why No Bank Execs Were Arrested – Consumerist
Millions of Americans lost their jobs, houses, savings, and more when the housing market collapsed under the weight of mortgages that should never have been approved, let alone bundled and converted into worthless, toxic securities. And yet, no senior Wall Street bank executives were ever charged with a crime. Now one U.S. congressman is asking to look at the FBI files to find out why. In a letter [PDF] sent yesterday to FBI Director James Comey, Rep. Bill Pascrell (NJ) points out that in 2004 — four years before the collapse — the FBI had already expressed concerns about questionable mortgage practices that would ultimately result in the loss of trillions of dollars in household wealth.
Monsanto had been aware for 40 years now that glyphosate causes cancer — yet they remain mum about it. This was revealed by a new paper by researchers Anthony Samsel and Stephanie Seneff through an article published by GMWatch. Samsel examined Monsanto’s secret toxicology data after he obtained it through a request to his senator. Both Samsel and Seneff concluded that “significant evidence of tumors was found during the investigations.” They also revealed that Monsanto diluted the data to decrease its significance by including data and statistics from unrelated experiments to create doubt and obscure significant evidences.
Apple boss Tim Cook lashed out at Internet giants and government Tuesday, calling them out for undermining constitutionally-guaranteed rights to privacy.
In a speech seemingly aimed at differentiating Apple’s corporate culture from some of its biggest rivals in Silicon Valley, Cook stepped up his criticisms of those who fund their business models by monetizing users’ data.
“We at Apple reject the idea that our customers should have to make tradeoffs between privacy and security,” Cook said. “We can, and we must provide both in equal measure. We believe that people have a fundamental right to privacy. The American people demand it, the constitution demands it, morality demands it.”
Later in the article, Cook made this great, insightful comment:
“Removing encryption tools from our products altogether, as some in Washington would like us to do, would only hurt law-abiding citizens who rely on us to protect their data,” Cook said. “The bad guys will still encrypt; it’s easy to do and readily available.”
Read that again if need be. If the bad guys can easily encrypt their communications, and the government knows this, then why do they still insist that average American citizens not have their data encrypted? Wake up Americans! To paraphrase Kanye West when he accused Bush of not caring about black people, the U.S. Government does not care about Americans.
Some members of the US Congress also urged FIFA to reconsider its rewarding of the 2018 World Cup to Russia, with Republican Senator Robert Menendez, saying he has been deeply “concerned about FIFA’s selection of Russia.”Blatter said the US-led probe may be influenced by Washington’s disappointment in [not] having the 2022 World Cup on its soil.
Keep in mind that Menendez is the subject of his own corruption scandal t hat somehow was kept out of the narrative for this scandal.
Rigid sales quotas at Wells Fargo Bank have driven employees to open unauthorized accounts for customers, sticking them with bogus fees and damaging their credit, according to a city of Los Angeles lawsuit that echoes a Times investigation.The civil complaint, filed Monday in state court in Los Angeles by City Atty. Mike Feuer, says the largest California-based bank encouraged its employees to engage “in unfair, unlawful and fraudulent conduct” through a pervasive culture of high-pressure sales. Employees misused customers’ confidential information and often failed to close unauthorized accounts even when customers complained, the suit alleges.Some employees went so far as to raid client accounts for money to open additional accounts, the suit alleges.
MOSCOW (Sputnik) – The US National Security Agency’s (NSA) PRISM surveillance program could cost US-based cloud and outsourcing vendors an overall three-year loss of $47 billion in revenues, a Forrester Research study revealed.
Lost revenue from spending on cloud services and platforms is expected to amount to over $500 million in the period between 2014 and 2016, according to the analysis, released by the independent technology and market research company on April 1.
The most overlooked piece of evidence in the downing of the Germanwings Airbus A320 is as follows:
Witnesses have described hearing an explosion ‘like the sound of dynamite’, and then seeing fighter jets fly past, suggesting the passenger plane had been under military escort.’
In the history of the commercial airline industry never has a jetliner been brought down under the bizarre and much publicized circumstances of a depressed pilot deliberately executing a “crash and burn” scenario. Given the number of mysterious airliner crashes and explosions over the past few years, there appears to be only one explanation for this purposeful takedown.