August 28 in Previous Years (1/3)
News Summaries from the WantToKnow.info Archive
Mainstream media often buries important news stories. PEERS is a US-based 501(c)3 nonprofit that finds and summarizes these stories for WantToKnow.info's free weekly email newsletter and website. Explore below key excerpts of revealing news articles from our archive that were published on today's date in previous years. Each excerpt is taken verbatim from the major media website listed at the link provided. The most important sentences are highlighted. If you find a link that no longer works, please tell us about it in a comment. And if you find this material overwhelming or upsetting, here's a message just for you. By educating ourselves and spreading the word, we can and will build a brighter future.
Lockerbie evidence not disclosed
Published on this day in 2008, by BBC News
Original Article Source, Dated 2008-08-28
Scottish police had information that might have changed the outcome of the Lockerbie bombing trial, a BBC TV programme has learned. The information could have affected the credibility of key evidence, but was not passed to the defence team. Libyan national Abdelbaset ali Mohmed al-Megrahi is serving life for killing 270 people in the 1988 bombing. A prosecution witness had seen a picture linking al-Megrahi to the bombing before he identified him. Al-Megrahi, 56, who maintains he is the victim of a miscarriage of justice, has been granted leave to appeal against his conviction for a second time. Tony Gauci, who picked al-Megrahi out in a line-up, had looked at a magazine photograph of him just four days before he made the identification. BBC TV programme The Conspiracy Files: Lockerbie has now seen documentary evidence that Scottish police knew this was the case. That information should have been passed to the defence, but the disclosure did not take place. There have always been doubts expressed about who was behind the bombing and what was their motivation. In June last year the Scottish Criminal Cases Review Commission (SCCRC), which has been investigating the case, concluded that al-Megrahi could have suffered a miscarriage of justice and recommended that he should be granted a second appeal.
Note: For a revealing documentary showing a major cover-up involving the Lockerbie bombing, click here.Note: Read the complete summary and notes here
Speculators busier as crude oil cost spikes
Published on this day in 2009, by San Francisco Chronicle (San Francisco's leading newspaper)
Original Article Source, Dated 2009-08-28
Speculators now account for half of all traders in the main U.S. oil market, and their growing presence coincided with this decade's historic rise in the price of crude, according to a new Rice University study. The study does not try to prove that speculators caused the price spike, as many politicians and consumer advocates believe. But the authors note that prices rose steadily along with the number of speculative investors, and fell with them as well. Seven years ago, speculators accounted for 20 percent of oil traders on the New York Mercantile Exchange. That number jumped to 55 percent by the time oil prices reached their all-time peak above $145 per barrel last summer. Now oil costs $72, and speculative investors account for half the traders. The government limits the number of oil contracts that each speculator can hold. But under the Commodity Futures Modernization Act [passed in 2000], trades on electronic exchanges or overseas markets don't count toward those limits. The study uses data from the Commodity Futures Trading Commission. Speculators are defined as traders who use oil strictly as a financial investment, those who will never take delivery of a tanker-full of crude. "This confirms what we and others have said for some time," said Tyson Slocum, director of the energy program at the Public Citizen watchdog group. "The good thing from the oil price run-up of 2008 is it has forced Congress to realize there's a problem in these markets, and the answer is re-regulation." The financial industry opposes tightening the regulations.
Note: Read the complete summary and notes here
Kenneth Ring: 'You Never Recover Your Original Self'
Published on this day in 1988, by New York Times
Original Article Source, Dated 1988-08-28
Probably the oldest mystery to vex mankind is what, if anything, occurs after death. For a decade, Kenneth Ring, a psychology professor and researcher at the University of Connecticut, has looked into the question through the near-death experiences of others. Mr. Ring ... talked with hundreds of people between the ages of 18 and 84 who have come close to physical death. [His books] Life at Death [and] Heading Toward Omega both deal with near-death experiences and how they change people's lives. A near-death experience ... often happens to individuals who find themselves on the verge of imminent biological death. It involves ... a sense of the most profound peace and well-being that is possible to imagine. It's a sense of being separate from the physical body and sometimes being able to see it as though a spectator off to one side or from up above. These people have a sense of moving through a dark space or tunnel toward a radiantly beautiful white or golden light. They are absorbed in that light, having in some cases a panoramic life review in which virtually everything that they've ever done in their life they're able to see; perhaps meeting the spirits of deceased love ones or friends. And in some cases, they are asked to make a decision as to whether they would like to continue or go back to their body. The most powerful antidote to the fear of death is coming close to death ... and remembering one of these experiences. After having a near-death experience, people believe the end of life isn't [the end]; they believe in some sort of life after death. [Those] who have a near-death experience almost totally lose their fear of death.
Note: Read the complete summary and notes here
Oil, Ecuador and its people
Published on this day in 2009, by Los Angeles Times
Original Article Source, Dated 2009-08-28
Chevron Corp., California's largest company and one of the world's largest oil producers, will soon face a day of reckoning. After 16 years of litigation, a case the company inherited in a merger, Aguinda vs. Texaco Inc., is nearing an end. The legal battle that began in the United States in 1993 and resumed in Ecuador in 2003 has pitted the multinational against an unlikely adversary, a coalition of indigenous tribes and communities. A verdict is expected early next year. The plaintiffs are poised to prevail, and Chevron acknowledges that it is likely to lose. The case is historic by several measures. Never before have indigenous peoples brought a multinational oil corporation to trial in their own country. Moreover, a victory would mark a turning point in the relations between native populations around the world and the foreign corporations that do business in their homelands. And the potential damages are staggering: A court-appointed expert has determined that they could run to $27 billion, almost 10 times that initially awarded to plaintiffs after the Exxon Valdez oil spill. Today, a swath of the Ecuadorean Amazon the size of Rhode Island remains contaminated beyond imagining. At one site after another, oil hangs in the air, slides on the water's surface and saturates the land. Pipelines and waste pits left behind years ago still drip and ooze. Advocates for the plaintiffs have called the former Texaco concession area the "Amazon Chernobyl." Were it in the United States, it would easily qualify as a Superfund site. Neither side in the case disputes the devastation, only who should pay for it.
Note: Read the complete summary and notes here
Interview: Brooksley Born
Published on this day in 2009, by PBS Frontline
Original Article Source, Dated 2009-08-28
As head of the Commodity Futures Trading Commission [CFTC], Brooksley Born became alarmed by the lack of oversight of the secretive, multitrillion-dollar over-the-counter derivatives market. Her attempts to regulate derivatives ran into fierce resistance from then-Fed Chairman Alan Greenspan, then-Treasury Secretary Robert Rubin and then-Deputy Treasury Secretary Larry Summers, who prevailed upon Congress to stop Born and limit future regulation. PBS: Let's start with September 2008 as we all sat there and watched the economy melting down. Born: It was like my worst nightmare coming true. I had had enormous concerns about the over-the-counter derivatives [OTC] market ... for a number of years. The market was totally opaque. Nobody really knew what was going on. And then it became obvious as Lehman Brothers failed, as AIG suddenly appeared to be on the brink of tremendous defaults and turned out [to have been a major derivatives] dealer. PBS: How did it happen? Born: It happened because there was no oversight of a very, very big, dynamic, growing market. I would never say derivatives should be banned or forbidden. The problem is that they can be extremely misused. Traditionally, government has had to protect the public interest by overseeing the marketplace and keeping the extreme behavior under some check. All other financial markets have some kind of government oversight protecting the public interest. [But] not this one. The over-the-counter derivatives dealers business ... was something like 40 percent of the profits of many of these big banks as recently as a couple of years ago. PBS: We're the losers. Who were the winners? Born: Our largest banks. It was short-term benefit for a few major institutions at the expense of all the people who have lost their jobs, who have lost their retirement savings, who have lost their homes.
Note: Read the complete summary and notes here
Senate Bill Would Give President Emergency Control of Internet
Published on this day in 2009, by Fox News
Original Article Source, Dated 2009-08-28
A Senate bill would offer President Obama emergency control of the Internet and may give him a "kill switch" to shut down online traffic by seizing private networks -- a move cybersecurity experts worry will choke off industry and civil liberties. Details of a revamped version of the Cybersecurity Act of 2009 emerged late Thursday, months after an initial version authored by Sen. Jay Rockefeller, D-W.V., was blasted in Silicon Valley as dangerous government intrusion. "In the original bill they empowered the president to essentially turn off the Internet in the case of a 'cyber-emergency,' which they didn't define," said Larry Clinton, president of the Internet Security Alliance, which represents the telecommunications industry. The new legislation allows the president to "declare a cybersecurity emergency" relating to "non-governmental" computer networks and make a plan to respond to the danger, according to an excerpt published online -- a broad license that rights experts worry would give the president "amorphous powers" over private users. "As soon as you're saying that the federal government is going to be exercising this kind of power over private networks, it's going to be a really big issue," Lee Tien, a senior staff attorney with the Electronic Frontier Foundation.
Note: Read the complete summary and notes here
Bush's Search Policy For Travelers Is Kept
Published on this day in 2009, by Washington Post
Original Article Source, Dated 2009-08-28
The Obama administration will largely preserve Bush-era procedures allowing the government to search -- without suspicion of wrongdoing -- the contents of a traveler's laptop computer, cellphone or other electronic device. The policy, disclosed ... in a pair of Department of Homeland Security directives, describes more fully than did the Bush administration the procedures by which travelers' laptops, iPods, cameras and other digital devices can be searched and seized when they cross a U.S. border. And it sets time limits for completing searches. Representatives of civil liberties and travelers groups say they see little substantive difference between the Bush-era policy, which prompted controversy, and this one. "It's a disappointing ratification of the suspicionless search policy put in place by the Bush administration," said Catherine Crump, staff attorney for the American Civil Liberties Union. "It doesn't deal with the fundamental problem, which is that under the policy, government officials are free to search people's laptops and cellphones for any reason whatsoever." "Under the policy begun by Bush and now continued by Obama, the government can open your laptop and read your medical records, financial records, e-mails, work product and personal correspondence -- all without any suspicion of illegal activity," said Elizabeth Goitein, who leads the liberty and national security project at the nonprofit Brennan Center for Justice.
Note: Read the complete summary and notes here
Banks 'Too Big to Fail' Have Grown Even Bigger
Published on this day in 2009, by Washington Post
Original Article Source, Dated 2009-08-28
When the credit crisis struck last year, federal regulators pumped tens of billions of dollars into the nation's leading financial institutions because the banks were so big that officials feared their failure would ruin the entire financial system. Today, the biggest of those banks are even bigger. The crisis may be turning out very well for many of the behemoths that dominate U.S. finance. A series of federally arranged mergers safely landed troubled banks on the decks of more stable firms. And it allowed the survivors to emerge from the turmoil with strengthened market positions, giving them even greater control over consumer lending and more potential to profit. J.P. Morgan Chase ... now holds more than $1 of every $10 on deposit in this country. So does Bank of America, scarred by its acquisition of Merrill Lynch and partly government-owned as a result of the crisis, as does Wells Fargo, the biggest West Coast bank. Those three banks, plus government-rescued and -owned Citigroup, now issue one of every two mortgages and about two of every three credit cards, federal data show. Concerns are twofold: that consumers will wind up with fewer choices for services and that big banks will assume they always have the government's backing if things go wrong. That presumed guarantee means large companies could return to the risky behavior that led to the crisis if they figure federal officials will clean up their mess. The worry for consumers is that the bailouts skewed the financial industry in favor of the big and powerful. Fresh data from the FDIC show that big banks have the ability to borrow more cheaply than their peers because creditors assume these large companies are not at risk of failing.
Note: Read the complete summary and notes here
Rich NYC Mayor: Drug CEOs Don't Make Much Money
Published on this day in 2009, by ABC News/Associated Press
Original Article Source, Dated 2009-08-28
Billionaire Mayor Michael Bloomberg defended multibillion-dollar pharmaceutical companies and their chief executives on Friday, declaring that they "don't make a lot of money" and shouldn't be scapegoats in the health care debate. The mayor — and wealthiest person in New York City with a fortune estimated at $16.5 billion — made the comments on his radio show Friday. "You know, last time I checked, pharmaceutical companies don't make a lot of money, their executives don't make a lot of money," Bloomberg said. Pharmaceutical CEOs are known to make millions, with generous salaries, stock options and other perks. Abbott Laboratories Inc. Chairman and Chief Executive Miles White's compensation was $25.3 million in 2008. The North Chicago, Ill.-based company saw profit rising 35 percent to $4.88 billion. Merck & Co.'s chief executive, Richard T. Clark, received a $17.3 million compensation package for 2008. The company's profit more than doubled to $7.8 billion. The mayor ... often battles criticism that he is out of touch with regular people. Earlier this year he declared "we love the rich people" while arguing against raising taxes on the wealthy. It was clear that Bloomberg or one of his aides realized his gaffe while he was still on the air Friday. The mayor, who has sought to cast himself as a financial and business expert, came back from a break and said he had looked up the pay of some pharmaceutical executives. "Some of them are making a decent amount, more than a decent amount of money," he said.
Note: Read the complete summary and notes here
Kenya brings in world's toughest plastic bag ban: four years jail or $40,000 fine
Published on this day in 2017, by The Guardian (One of the UK's leading newspapers)
Original Article Source, Dated 2017-08-28
Kenyans producing, selling or even using plastic bags will risk imprisonment of up to four years or fines of $40,000 (£31,000) from Monday, as the world’s toughest law aimed at reducing plastic pollution came into effect. The east African nation joins more than 40 other countries that have banned, partly banned or taxed single use plastic bags, including China, France, Rwanda, and Italy. Many bags drift into the ocean, strangling turtles, suffocating seabirds and filling the stomachs of dolphins and whales with waste until they die of starvation. “If we continue like this, by 2050, we will have more plastic in the ocean than fish,” said Habib El-Habr, an expert on marine litter working with the UN environment programme in Kenya. Plastic bags, which El-Habr says take between 500 to 1,000 years to break down, also enter the human food chain through fish and other animals. In Nairobi’s slaughterhouses, some cows destined for human consumption had 20 bags removed from their stomachs. “This is something we didn’t get 10 years ago but now it’s almost on a daily basis,” said county vet Mbuthi Kinyanjui as he watched men in bloodied white uniforms scoop sodden plastic bags from the stomachs of cow carcasses. Kenya’s law allows police to go after anyone even carrying a plastic bag. But Judy Wakhungu, Kenya’s environment minister, said enforcement would initially be directed at manufacturers and suppliers. It took Kenya three attempts over 10 years to finally pass the ban.
Note: Read the complete summary and notes here
With best wishes for a transformed world,
Mark Bailey and Fred Burks for PEERS and WantToKnow.info
