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Friday, Jul 05th

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Citigroup reports nearly $400m fraud in Mexico unit

Citigroup reports fraudCitigroup Inc (C.N) said on Friday that it has discovered at least $400 million in fraudulent loans in its Mexico subsidiary and said employees may have been in on the crime.

The bank wrote down bogus loans to a company whose assets Mexican law enforcement officials have now seized. Citigroup's 2013 profit fell by $235 million to $13.67 billion after the write-down. Citigroup Chief Executive Officer Michael Corbat called the incident a "despicable crime" and said the bank believes it was an isolated episode.

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Republicans block Senate bill to boost veterans' benefits

Senate GOPA divided Senate on Thursday derailed Democratic legislation that would have provided $21 billion for medical, education, and job-training benefits for the nation's veterans. The bill fell victim to election-year disputes over spending and fresh penalties against Iran.

Each party covets the allegiance of the country's 22 million veterans and their families, and each party blamed the other for turning the effort into a chess match aimed at forcing politically embarrassing votes.

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Robert Parry: A Shadow US Foreign Policy

NEDThe National Endowment for Democracy, a central part of Ronald Reagan’s propaganda war against the Soviet Union three decades ago, has evolved into a $100 million U.S. government-financed slush fund that generally supports a neocon agenda often at cross-purposes with the Obama administration’s foreign policy.

NED is one reason why there is so much confusion about the administration’s policies toward attempted ousters of democratically elected leaders in Ukraine and Venezuela. Some of the non-government organizations (or NGOs) supporting these rebellions trace back to NED and its U.S. government money, even as Secretary of State John Kerry and other senior officials insist the U.S. is not behind these insurrections.

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Former oil exec calls Exxon CEO out on his hypocritical anti-fracking lawsuit

Allstadt letter to TillersonThe news, reported last week by the Wall Street Journal, that Rex Tillerson — the CEO of the world’s largest publicly traded international oil and gas company — was involved in an anti-fracking lawsuit because the drilling was happening where he lives was rightly met with cries of outrage and incredulity.

But as a former Big Oil executive himself, Louis W. Allstadt is in a better place than many to call Tillerson out on his hypocrisy.

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Alex Baer: Dying for More Life: Skinny-Dipping in the Fountain of Youth

Fountain of YouthMost of us get used to living in clusters of contradictions.  Hypocrisy is part of the human condition, and irony is Nature's way of trying to lure us toward more introspection and humility.  And, once those forces are in play, we gain perspective and are able to laugh at ourselves and the absurdities of life.

This is healthy and is supposed to work that way -- at least, once the laughing finally dies down a little.  But, you know, difficult truths that fuel our recognition and laughter can sometimes linger and fester.  I fell over another one of these today.  I am still not certain how I feel about any of it.  Still thinking on it.

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UK spies 'intercepted webcam images of Yahoo users'

UK spied on Yahoo camcordersBritish spy agency GCHQ intercepted webcam images from millions of Yahoo users around the world, according to a report in the Guardian.

Yahoo denied prior knowledge of the alleged programme, describing it as a "completely unacceptable" privacy violation.  According to leaked documents, sexually explicit images were among those gathered - although not intentionally.

In a statement GCHQ has said all of its actions are in accordance with the law.

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Hundreds of foods in U.S. contain 'ADA' plastics chemical: report

ada in foodsNearly 500 foods found on grocery store shelves in the United States, including many foods labeled as "healthy," contain a potentially hazardous industrial plastics chemical, according to a report issued Thursday by a health research and advocacy group.

Azodicarbonamide, also known as ADA, was found as an ingredient in breads, bagels, tortillas, hamburger and hot dog buns, pizza, pastries, and other food products, according to a report by the Environmental Working Group, based in Washington.

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Regulator declines to set date for new rail tank car safety rules

rail car safetyThe chief of a federal agency tasked with improving the safety of crude oil shipments by rail declined Wednesday to give lawmakers a date for new tank car rules that railroads and safety officials have sought for years.

Cynthia Quarterman, administrator of the Pipeline and Hazardous Materials Safety Administration, also testified the tank car fixes weren’t “a silver bullet,” and were only “one piece of the mitigative puzzle” in making crude oil transportation safer.

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Ohio cuts early voting method favored by blacks

Ohio voting cutsOhio Secretary of State Jon Husted announced Tuesday he is cutting early voting on Sundays and weekday evenings, dealing another blow to the voting rights effort in the nation’s most pivotal swing state.

Husted’s change would spell doom for a voting method that’s popular among African-Americans in Ohio and elsewhere. Many churches and community groups lead “Souls to the Polls” drives after church on the Sunday before the election.

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