Where is the Money Going?

1 to 16 of about 1473 News
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World’s Richest Seven-Tenth of a Percent Own 44% of Assets

About 44% of all personal assets on the planet are owned by only 0.7% of the global population, according to Global Wealth Report 2014 produced by Credit Suisse. In the United States, the richest 1% takes home 20% of the nation’s total income. This is the highest rate since 1928. Credit Suiisse classifies the United States as one of only three developed economies with “very high inequality.”   read more

U.S. Said to Shrug off Discovery in Lebanon of a Billion Dollars of Its Missing Iraq Reconstruction Money

One would think that if more than a billion stolen dollars could be retrieved, the U.S. government would pursue a good lead. But successive presidential administrations have chosen not to investigate it. It was the mission of Stuart W. Bowen to find out where the funds went. When he heard that the cash had been shipped to Lebanon and hidden in a bunker, he told the FBI and CIA. But neither agency pursued it. Bowen attempted to go to Lebanon himself, but was forbidden to do so by his bosses.   read more

Lack of Ebola Vaccine Blamed on Budget Cuts

Dr. Francis Collins, director of the National Institutes of Health (NIH) has faulted budget cuts, and thus Congress, for the lack of an Ebola vaccine. In fact, the lack of funding has forced NIH to slow all its research. Even now, with the media frenzy over two cases of Ebola occurring in the U.S., there is little action on Capitol Hill to provide NIH with emergency supplemental funding. “Nobody seems enthusiastic about that,” Collins said.   read more

Dark Money Political Groups Hit $100 Million Mark in Election Spending

The $100 million is more than a third higher than what was spent on congressional races at this point in 2012. The money is funneled to so-called “social welfare” groups. One of the most prominent spenders has been the Kentucky Opportunity Coalition, which promotes the campaign of Senate Minority Leader Mitch McConnell and targeting his Democratic rival, Alison Grimes. Other money is spent by the Koch brothers’-funded Americans for Prosperity and Karl Rove’s Crossroads GPS   read more

Pentagon Spends Half-Billion on Military Aircraft for Afghanistan, Then Sells Planes for Scrap for $32,000

The Pentagon bought 20 transport planes for use in Afghanistan for $486 million. The planes could not be kept operational, so 16 of them were scrapped at Kabul Airport and the shredded metal was sold for 6 cents a pound. “I am concerned that the officials responsible for planning and executing the scrapping of the planes may not have considered other possible alternatives in order to salvage taxpayer dollars," said SIGAR's John Sopko.   read more

FEC Ruling on Presidential Convention Contributions Sidesteps Party Donation Limits

When Republicans and Democrats presented a rare united front on an issue, it wasn’t surprising that their goal was to put more money in their pockets. The FEC, in reponse to a joint letter from Democratic and Republican national committees, agreed that the parties may receive convention donations that don’t count against the annual limit. Campaign Legal Center’s Larry Noble called the decision “disgraceful” and that it could lead to allowing donations for different party tasks.   read more

A Billion Dollars in Drug and Device Payments to Doctors Were Omitted from New Fed Database

The Obama administration’s attempt to report how much money has been flowing from manufacturers of pharmaceuticals and medical devices to doctors is proving to be seriously flawed. CMS officials proclaimed during the unveiling of Open Payments that the data included nearly 4.5 million payments worth $3.5 billion, but the flaws and omissions raise questions about how complete those numbers really are. Mistakes won’t be corrected until next year, and some of those errors are whoppers.   read more

New Website Born of Healthcare Law Discloses Billions of Dollars Paid to Doctors and Hospitals by Drug and Device Firms

Pharmaceutical manufacturers and device companies issued 4.4 million payments to more than 500,000 health care professionals that totaled $3.5 billion, during the last half of 2013. “The main goal is to influence prescribing practices,” said Dr. Michael Carome, director of Public Citizen’s Health Research Group. “The interest of those companies is to improve their financial bottom line, and not necessarily represent the best interest of patients.”   read more

School District to Pay Nearly $400,000 in Legal Costs after Losing Fight to Ban Boobie Bracelets

The Easton Area School District imposed a ban four years ago on students wearing breast cancer awareness bracelets that read: “I ♥ Boobies! (Keep a Breast)” Two students, Brianna Hawk and Kayla Martinez, challenged the prohibition with the help of the ACLU, twice winning in federal court. Once the U.S. Supreme Court refused to hear the district’s appeal, the ACLU negotiated a settlement of $385,000 with the school district to pay the lawyers who worked on the case.   read more

Navajos Gain Largest Native American Settlement with U.S. Government over Mismanagement of Natural Resources

Before this year is up, the Navajo Nation will receive more than half a billion dollars from the federal government to settle the government’s historical mismanagement of tribal resources. The $554 million wraps up an eight-year-old lawsuit that Navajo leaders filed claiming the federal government spent decades, going back to 1946, managing leases to oil, gas, timber and other natural resource companies without getting a fair return for the tribe.   read more

CDC Funds Group that Helps Hollywood Present Health and Health Insurance Issues Accurately

When television writers or screenwriters need some expert advice for a medical storyline, they turn to Hollywood, Health, and Society, a private group of experts funded by the federal government’s leading health research agency. The Centers for Disease Control and Prevention (CDC) provides up to half a million dollars a year to Hollywood, Health, and Society, which has been advising the entertainment industry for 13 years.   read more

California Pensions to Dump $4 Billion Hedge Fund Investments; Rockefeller Charity Drops Oil

The California Public Employees’ Retirement System (CalPERS) has decided to divest its investment portfolio of all hedge funds, a total of 24 plus six “funds of funds.” The total comes out to about $4 billion out of CalPERS’ total assets of $300 billion. The amount may not be that significant compared to the overall investing CalPERS does, but the pension fund’s sheer size makes any decision noticeable among investors.   read more

Secret Donors have Spent more than $60 Million on Current Election Campaign

Nonprofit groups that aren’t supposed to have politics as their primary purpose have reportedly put $63 million into ads and other efforts to influence the outcome of the 2014 midterm races, according to the Center for Responsive Politics (CRP), which tracks electoral spending. Mother Jones’ Andy Kroll pointed out that this amount nearly matches the $69 million in dark money that was spent during the entire 2008 presidential campaign.   read more

House Votes to Block Easy Disclosure of Corporate Financial Statements

Lawmakers embraced an important change that would force the Securities and Exchange Commission (SEC) to exempt public companies making less than $250 million a year from filing their financial statements electronically.   read more

Increased Purchases of Guns Ends up Funding Wildlife Research…and Shooting Ranges

This year, North Carolina alone has collected nearly $20 million in the revenues generated by gun and ammo sales—a three-fold increase since 2007. The money has allowed state officials to expand the number of public shooting ranges from one to four, with three more in development. The tax revenue has compensated for cuts in state spending and provided funds for new roads, signs and parking lots.   read more

Average U.S. Household Earned an Extra 50 Cents a Day Last Year

The average American household made more money last year, new federal data shows. But don’t go shopping for Beverly Hills real estate quite yet—the boost amounted to only 50 cents a day. Of course, that’s just an average. Corporate CEOs are doing much better than last year, while economic gains haven’t made their way to the middle class because of such developments as the decline in union membership and the number of workers being replaced by machines.   read more
1 to 16 of about 1473 News
1 2 3 ... 93 Next

Where is the Money Going?

1 to 16 of about 1473 News
1 2 3 ... 93 Next

World’s Richest Seven-Tenth of a Percent Own 44% of Assets

About 44% of all personal assets on the planet are owned by only 0.7% of the global population, according to Global Wealth Report 2014 produced by Credit Suisse. In the United States, the richest 1% takes home 20% of the nation’s total income. This is the highest rate since 1928. Credit Suiisse classifies the United States as one of only three developed economies with “very high inequality.”   read more

U.S. Said to Shrug off Discovery in Lebanon of a Billion Dollars of Its Missing Iraq Reconstruction Money

One would think that if more than a billion stolen dollars could be retrieved, the U.S. government would pursue a good lead. But successive presidential administrations have chosen not to investigate it. It was the mission of Stuart W. Bowen to find out where the funds went. When he heard that the cash had been shipped to Lebanon and hidden in a bunker, he told the FBI and CIA. But neither agency pursued it. Bowen attempted to go to Lebanon himself, but was forbidden to do so by his bosses.   read more

Lack of Ebola Vaccine Blamed on Budget Cuts

Dr. Francis Collins, director of the National Institutes of Health (NIH) has faulted budget cuts, and thus Congress, for the lack of an Ebola vaccine. In fact, the lack of funding has forced NIH to slow all its research. Even now, with the media frenzy over two cases of Ebola occurring in the U.S., there is little action on Capitol Hill to provide NIH with emergency supplemental funding. “Nobody seems enthusiastic about that,” Collins said.   read more

Dark Money Political Groups Hit $100 Million Mark in Election Spending

The $100 million is more than a third higher than what was spent on congressional races at this point in 2012. The money is funneled to so-called “social welfare” groups. One of the most prominent spenders has been the Kentucky Opportunity Coalition, which promotes the campaign of Senate Minority Leader Mitch McConnell and targeting his Democratic rival, Alison Grimes. Other money is spent by the Koch brothers’-funded Americans for Prosperity and Karl Rove’s Crossroads GPS   read more

Pentagon Spends Half-Billion on Military Aircraft for Afghanistan, Then Sells Planes for Scrap for $32,000

The Pentagon bought 20 transport planes for use in Afghanistan for $486 million. The planes could not be kept operational, so 16 of them were scrapped at Kabul Airport and the shredded metal was sold for 6 cents a pound. “I am concerned that the officials responsible for planning and executing the scrapping of the planes may not have considered other possible alternatives in order to salvage taxpayer dollars," said SIGAR's John Sopko.   read more

FEC Ruling on Presidential Convention Contributions Sidesteps Party Donation Limits

When Republicans and Democrats presented a rare united front on an issue, it wasn’t surprising that their goal was to put more money in their pockets. The FEC, in reponse to a joint letter from Democratic and Republican national committees, agreed that the parties may receive convention donations that don’t count against the annual limit. Campaign Legal Center’s Larry Noble called the decision “disgraceful” and that it could lead to allowing donations for different party tasks.   read more

A Billion Dollars in Drug and Device Payments to Doctors Were Omitted from New Fed Database

The Obama administration’s attempt to report how much money has been flowing from manufacturers of pharmaceuticals and medical devices to doctors is proving to be seriously flawed. CMS officials proclaimed during the unveiling of Open Payments that the data included nearly 4.5 million payments worth $3.5 billion, but the flaws and omissions raise questions about how complete those numbers really are. Mistakes won’t be corrected until next year, and some of those errors are whoppers.   read more

New Website Born of Healthcare Law Discloses Billions of Dollars Paid to Doctors and Hospitals by Drug and Device Firms

Pharmaceutical manufacturers and device companies issued 4.4 million payments to more than 500,000 health care professionals that totaled $3.5 billion, during the last half of 2013. “The main goal is to influence prescribing practices,” said Dr. Michael Carome, director of Public Citizen’s Health Research Group. “The interest of those companies is to improve their financial bottom line, and not necessarily represent the best interest of patients.”   read more

School District to Pay Nearly $400,000 in Legal Costs after Losing Fight to Ban Boobie Bracelets

The Easton Area School District imposed a ban four years ago on students wearing breast cancer awareness bracelets that read: “I ♥ Boobies! (Keep a Breast)” Two students, Brianna Hawk and Kayla Martinez, challenged the prohibition with the help of the ACLU, twice winning in federal court. Once the U.S. Supreme Court refused to hear the district’s appeal, the ACLU negotiated a settlement of $385,000 with the school district to pay the lawyers who worked on the case.   read more

Navajos Gain Largest Native American Settlement with U.S. Government over Mismanagement of Natural Resources

Before this year is up, the Navajo Nation will receive more than half a billion dollars from the federal government to settle the government’s historical mismanagement of tribal resources. The $554 million wraps up an eight-year-old lawsuit that Navajo leaders filed claiming the federal government spent decades, going back to 1946, managing leases to oil, gas, timber and other natural resource companies without getting a fair return for the tribe.   read more

CDC Funds Group that Helps Hollywood Present Health and Health Insurance Issues Accurately

When television writers or screenwriters need some expert advice for a medical storyline, they turn to Hollywood, Health, and Society, a private group of experts funded by the federal government’s leading health research agency. The Centers for Disease Control and Prevention (CDC) provides up to half a million dollars a year to Hollywood, Health, and Society, which has been advising the entertainment industry for 13 years.   read more

California Pensions to Dump $4 Billion Hedge Fund Investments; Rockefeller Charity Drops Oil

The California Public Employees’ Retirement System (CalPERS) has decided to divest its investment portfolio of all hedge funds, a total of 24 plus six “funds of funds.” The total comes out to about $4 billion out of CalPERS’ total assets of $300 billion. The amount may not be that significant compared to the overall investing CalPERS does, but the pension fund’s sheer size makes any decision noticeable among investors.   read more

Secret Donors have Spent more than $60 Million on Current Election Campaign

Nonprofit groups that aren’t supposed to have politics as their primary purpose have reportedly put $63 million into ads and other efforts to influence the outcome of the 2014 midterm races, according to the Center for Responsive Politics (CRP), which tracks electoral spending. Mother Jones’ Andy Kroll pointed out that this amount nearly matches the $69 million in dark money that was spent during the entire 2008 presidential campaign.   read more

House Votes to Block Easy Disclosure of Corporate Financial Statements

Lawmakers embraced an important change that would force the Securities and Exchange Commission (SEC) to exempt public companies making less than $250 million a year from filing their financial statements electronically.   read more

Increased Purchases of Guns Ends up Funding Wildlife Research…and Shooting Ranges

This year, North Carolina alone has collected nearly $20 million in the revenues generated by gun and ammo sales—a three-fold increase since 2007. The money has allowed state officials to expand the number of public shooting ranges from one to four, with three more in development. The tax revenue has compensated for cuts in state spending and provided funds for new roads, signs and parking lots.   read more

Average U.S. Household Earned an Extra 50 Cents a Day Last Year

The average American household made more money last year, new federal data shows. But don’t go shopping for Beverly Hills real estate quite yet—the boost amounted to only 50 cents a day. Of course, that’s just an average. Corporate CEOs are doing much better than last year, while economic gains haven’t made their way to the middle class because of such developments as the decline in union membership and the number of workers being replaced by machines.   read more
1 to 16 of about 1473 News
1 2 3 ... 93 Next