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UK Anti-Corruption Drive has US Companies Sweating

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© unknown
U.S. companies, already sweating under heightened enforcement of anti-corruption laws at home, are nervously reviewing their policies on how they wine and dine business contacts abroad in the wake of tough new regulations imposed in Britain.

The new law, which took effect July 1, bans all so-called facilitating payments and does not expressly allow entertainment of government officials and others.

The jury is still out on how rigorously British authorities will choose to enforce the law. Companies in the defense, pharmaceuticals, energy and telecommunications sectors are seen as particularly vulnerable.

At the same time, U.S. companies are grappling with tighter rules at home too. New whistleblower rules approved by the U.S. Securities and Exchange Commission have also spurred companies to scrutinize their existing compliance programs, according to legal experts in the United States and Washington.

"We have definitely seen an uptick in our business in the anti-corruption and anti-bribery area," said Ed Rubinoff, a Washington-based expert on export controls and foreign corruption with Akin Gump Strauss Hauer and Feld.

Bug

US: Obesity Charity Allegedly Secretly Takes Money to Promote Artificial Sweeteners

The National Obesity Forum is a charity dedicated, it claims, to raising awareness about the hazards of obesity and produce guidelines regarding its management. When one hears the name 'National Obesity Forum' and learns it was started by health professionals, it's natural to imagine that this organisation is an independent body with genuine concerns about health at heart. While the top brass in the National Obesity Forum (NOF) may indeed be well meaning, the organisation is most certainly not independent. Below are screenshots of the NOF's partners, as well as those who have funded its website and conferences:
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Comment: Obesity is not the only evil that can be attributed to aspartame consumption:

Aspartame: Toxicology

Aspartame consumption strongly associated with migraines and seizures

Aspartame Can Mess Up Your Body and Brain


Dollar

The New "Let them eat cake!"

10 shocking, illuminating moments that prove just how out of touch the powerful really are

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© Salon/iStockphoto/TennesseePhotographer
In the midst of this prole-crushing economic emergency engineered by wealthy speculators and their political puppets, we now find ourselves watching those same modern-day Marie Antoinettes at once celebrating their station and begging for sympathy as if they were the real casualties of the decade-long economic slowdown they created.

There was, for instance, Lebron James' parade of free-agent narcissism in the shadow of an economically destroyed Cleveland -- and then there was one of the architects of that economic apocalypse, Cavaliers owner and Quicken Loans CEO Dan Gilbert, pretending that the move of a single basketball player to Miami was the root of Cleveland's problems, and not the subprime bomb Gilbert himself had dropped on the city.

There was historian Doris Kearns Goodwin suggesting those politicians who followed Wall Street and voted for the bank bailouts exemplified the same heroism as those who fought for the passage of the Civil Rights Act in the 1960s.

And, more recently, there was that searing image of President Obama convening a $35,800-a-plate Upper East Side dinner with "a committee of bankers, private equity executives and hedge fund managers" as the economy burns.

But appalling as those examples are, they pale in comparison to the recession's 10 most egregious sets of "Let Them Eat Cake" moments, comments and actions. These are the ones that truly deserve a place in the history books.

Alarm Clock

Why QE2 Failed: The Money All Went Offshore

bankers money bags
© Unknown
On June 30, QE2 ended with a whimper. The Fed's second round of "quantitative easing" involved $600 billion created with a computer keystroke for the purchase of long-term government bonds. But the government never actually got the money, which went straight into the reserve accounts of banks, where it still sits today. Worse, it went into the reserve accounts of FOREIGN banks, on which the Federal Reserve is now paying 0.25% interest.

Before QE2 there was QE1, in which the Fed bought $1.25 trillion in mortgage-backed securities from the banks. This money too remains in bank reserve accounts collecting interest and dust. The Fed reports that the accumulated excess reserves of depository institutions now total nearly $1.6 trillion.

Interestingly, $1.6 trillion is also the size of the federal deficit - a deficit so large that some members of Congress are threatening to force a default on the national debt if it isn't corrected soon.

So here we have the anomalous situation of a $1.6 trillion hole in the federal budget, and $1.6 trillion created by the Fed that is now sitting idle in bank reserve accounts. If the intent of "quantitative easing" was to stimulate the economy, it might have worked better if the money earmarked for the purchase of Treasuries had been delivered directly to the Treasury. That was actually how it was done before 1935, when the law was changed to require private bond dealers to be cut into the deal.

The one thing QE2 did for the taxpayers was to reduce the interest tab on the federal debt. The long-term bonds the Fed bought on the open market are now effectively interest-free to the government, since the Fed rebates its profits to the Treasury after deducting its costs.

But QE2 has not helped the anemic local credit market, on which smaller businesses rely; and it is these businesses that are largely responsible for creating new jobs. In a June 30 article in the Wall Street Journal titled "Smaller Businesses Seeking Loans Still Come Up Empty," Emily Maltby reported that business owners rank access to capital as the most important issue facing them today; and only 17% of smaller businesses said they were able to land needed bank financing.

Bad Guys

Aiding Insecurity: Four Years of Mexico's Drug War

Mexican federal police
© Adriana Zehbrauskas / The New York Times

A Mexican federal police officer patrols the streets of Acapulco, Mexico, January 28, 2011.

*Region is less secure after nearly four years of regional security cooperation.

* Claims that US national security threatened by drug trafficking remain unsubstantiated.

*Obama administration's professions of "shared responsibility" don't acknowledge the US government's fundamental responsibility.

Mexico's drug-trafficking organizations constitute a threat to regional security and to US national security, says the US government. Yet the region is becoming less secure and less safe as the result of the security emphasis of US counternarcotics initiatives.

The Merida Initiative, signed by President George W. Bush and Felipe Calderon in October 2007, officially launched new US efforts to improve "regional security" through counternarcotics aid programs in Mexico, and, to a lesser degree, in Central America and the Caribbean. [1]

Heart - Black

Murdoch's dirty tricks against Palestinians

Hacking the mobile phones of British families who had lost loved ones to sexually depraved violent criminals, al-Qaeda inspired "terrorists" and Taliban insurgents proved the tipping point that led to the closure of Britain's most popular Sunday newspaper The News of the World, first published in London in 1843 and printed for the very last time on Sunday July 9, 2011.

Rupert Murdoch Scandal
© Gallo/Getty
Murdoch's News International phone hacking scandal will be subject to forensic examination and extensive analysis
To adopt a current media idiom, hacking these telephones at times of deep family grief became toxic for Rupert Murdoch's News International media empire because public support for precisely these victims sits at the heart of all Murdoch's political strategies. As a result, Murdoch has been forced to mount a damage limitation exercise on an unprecedented scale in an effort to protect his global media empire from the fallout.

Hugh Grant, a famous British actor turned investigative journalist, himself a victim of News International phone hacking was the first to acknowledge the extent to which the invasion of celebrities and politicians' privacy paled into insignificance compared to the unpardonable intrusion into the lives of the newly bereaved. Grant is absolutely right, but it is the fact that Sunday's News of the World - like its daily sister The Sun - sets itself up as the champion of these victims that hoisted it by its own petard.

In fact, the "Sarah's Law" campaign that named and shamed convicted paedophiles following the murder of eight-year-old Sarah Payne was spearheaded personally by Murdoch's now beleaguered lieutenant Rebekah Brooks. When confronted with criticism that the campaign encouraged vigilantism and threatened the rule of law she responded that she did not "regret the campaign for one minute". The same well attuned ear for the popular mood led The News of the World and The Sun to launch and promote the popular charity Help the Heroes that supports British troops.

Footprints

Why the US won't leave Afghanistan

Among multiple layers of deception and newspeak, the official Washington spin on the strategic quagmire in Afghanistan simply does not hold.

Afghanistan troop surge
© Gallo/Getty
The Pentagon wants the White House to "hold off on ending the Afghanistan troop surge until the fall of 2012"
No more than "50-75 'al-Qaeda types' in Afghanistan", according to the CIA, have been responsible for draining the US government by no less than US $10 billion a month, or $120 billion a year.

At the same time, outgoing US Defense Secretary Robert Gates has been adamant that withdrawing troops from Afghanistan is "premature". The Pentagon wants the White House to "hold off on ending the Afghanistan troop surge until the fall of 2012."

That of course shadows the fact that even if there were a full draw down, the final result would be the same number of US troops before the Obama administration-ordered AfPak surge.

And even if there is some sort of draw down, it will mostly impact troops in supporting roles - which can be easily replaced by "private contractors" (euphemism for mercenaries). There are already over 100,000 "private contractors" in Afghanistan.

Newspaper

China "Kidnaps" Bishops to Stage Catholic Ordination

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© Reuters
There are thought to be millions of "underground" Catholics in China who remain loyal to Rome.
China has ordained another bishop without the Pope's approval and allegedly kidnapped four bishops to witness the ceremony, in its fiercest act of defiance against the Vatican yet.

In a three hour-long morning ceremony, China's government-run Catholic church ordained the Reverend Joseph Huang Bingzhang as the new bishop of the southern city of Shantou.

It is the third time in eight months that the Communist party - which insists that it, rather than the Pope, controls China's church - has appointed a bishop without a Papal mandate.

Thursday's ceremony was particularly controversial after four bishops loyal to the Vatican were taken away by Chinese police and allegedly forced to participate.

The Rt Revs Liang Jiansen, Liao Hongqing, Paul Su Yongda disappeared from their dioceses in Guangdong province on Sunday, while the Bishop of Guangzhou, the Rt Rev Joseph Junqi, has been missing for even longer.

Eagle

US: Appeals Court Upholds TSA's Use of Full-Body Scanners

TSA
© Cynthia Boll/Associated Press
A U.S. appeals court Friday upheld the use of full-body scanners to screen air travelers, but said the Transportation Security Administration should have sought public comment before deploying them.

The U.S. Court of Appeals for the District of Columbia Circuit ruled that the machines, known as Advanced Imaging Technology (AIT), were not an unconstitutional search and declined to halt their use despite TSA's failure to follow proper procedure.

Privacy advocates, who have strongly opposed the use of the machines, had argued their use constituted an illegal search under the U.S. Constitution's Fourth Amendment. They also said TSA failed to provide public notice that it was deploying them and to seek public comment.

"Any passenger may opt-out of AIT screening in favor of a pat-down, which allows him to decide which of the two options for detecting a concealed, nonmetallic weapon or explosive is least invasive," the three-judge panel ruled.

Evil Rays

Belly-Bomb Baloney: the TSA Lies Yet Again

tsa,nazi
© Unknown
Ah, belly-bombs -- the Transportation Security Administration's (TSA) newest scare-story for frightening us into its porno-scanners and sexual assaults at airports.

Belly-bombs play right into the TSA's hands even if passengers won't. They kill, which makes them petrifying. And they're invisible but pervasive: since terrorists "surgically implant" them inside the body, almost any passenger could conceal one. Worse, "regular scanning equipment, including full-body scanners, is not designed to penetrate the skin, so it would not be able to detect implanted devices."

Ergo, the possibility that we could explode from causes other than rage at the TSA justifies "additional security measures at U.S. airports and overseas airports serving U.S. destinations, the [TSA] said in a statement. The new measures could include increased use of behavior-detection techniques such as agents studying passengers for nervous behavior and conducting airport interviews, pat-down searches, and efforts to detect traces of explosive materials by swabbing skin and clothing and using explosives-sniffing dogs and machines, the TSA said."

It's all a tad too convenient, isn't it? As the TSA abuses dying grandmothers and molests children, as legislation at both the local and national levels threatens to trim its power, as calls for its abolition reverberate, along comes a diabolical threat right out of Marvel Comics. The lesson from the TSA and its collaborators in the corporate press who ballyhoo belly-bombs is clear: not only do we "need" the agency with its groping and ogling, we must cede it authority for "additional security measures at U.S. airports" - - and everywhere else.