Extra Extra : Economy

Texas family planning department had millions left in budget as clinics closed for lack of funds

The Texas Observer reports that the s tate health department left approximately $2.3 million of its family planning funds unspent while clinics across the state closed because of lack of money. As a result, tens of thousands of women lost access to reproductive care. The unspent funds happened at a time when, according to previous Observer reporting, "146 family-planning clinics lost funds, and more than 60 clinics closed as a result following budget cuts instituted by the Texas Legislature in 2011."

Extra Extra Monday: Medicare prescribers, payday loans, swift deportations and secret consulting work

Medicare Drug Program Fails to Monitor Prescribers, Putting Seniors and Disabled at Risk | ProPublica and The Washington Post
"Prescription data obtained by ProPublica shows widespread use of antipsychotics, narcotics and other drugs dangerous for older adults, but Medicare officials say it's not their job to look for unsafe prescribing or weed out doctors with troubled backgrounds." Also published this weekend is a database of Medicare's prescription drug program.

Beyond Payday Loans | Marketplace and ProPublica
"A near billion dollar company, World Finance is the largest of an often-overlooked breed of high-cost lender: installment lenders. Ranging from a few hundred ...

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Obama's choice for Federal Housing Finance Agency head under fire

The Center for Public Integrity reports that "Rep. Mel Watt, the North Carolina Democrat whom President Barack Obama has appointed to oversee mortgage finance giants Fannie Mae and Freddie Mac has received more campaign money from financial interests than any other industry or special interest."

"Since he entered Congress in 1992, Watt has received $1.33 million in campaign contributions from the finance, real estate and insurance industries, according to the Center for Responsive Politics, a nonprofit research group that tracks money in politics."

Google's UK tax structure in question

Today, Reuters released two articles about Google and the company’s tax structure in the UK:

From 2006 to 2011, Google generated $18 billion in revenues from the UK and paid just $16 million in taxes. Google defends its low tax bills by saying it does not have a British tax presence, because its sales to the UK are made by staff in Ireland. A Reuters examination of Google’s activities raises questions about that. Our reporting reveals many employee roles located in Britain that actually target, negotiate and close sales of Google’s advertising products to its customers. Also ...

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Extra Extra Monday: Raiteros, problems in foster care, questionable death investigations, gang wars in Toledo

Taken for a Ride: Temp Agencies and ‘Raiteros’ in Immigrant Chicago | ProPublica and Marketplace
“Some of America's best-known companies and largest temp agencies benefit from — and tacitly collaborate with — an underworld of labor brokers, known as raiteros, who charge workers fees, pushing their pay below minimum wage.”

Problems keep proliferating at discredited private foster care agency | Los Angeles Times
“A decade after L.A. County auditors delivered a harsh assessment of Teens Happy Homes, probe finds that children were repeatedly harmed in recent years and dubious financial practices grew.”

Mortgage Mess | NBC Bay Area
“Tens of thousands of Bay ...

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Extra Extra Monday: Motorcycle novelty helmets, secrets of the gulf oil spill and unregulated day cares

How the gun lobby has already blocked Boston’s bombing investigators | MSNBC
“One avenue of investigation is already closed off to forensic officials working the Boston Marathon bombing case due to efforts dating back decades by the National Rifle Association and gun manufacturers.”

What BP Doesn’t Want You to Know About the 2010 Gulf Spill | Newsweek
“What has not been revealed until now is how BP hid that massive amount of oil from TV cameras and the price that this “disappearing act” imposed on cleanup workers, coastal residents, and the ecosystem of the gulf. That story can now be ...

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Few rules for buying, selling guns online

Analyzing websites such as ARMSLIST.com, The New York Times found convicted felons advertising to buy and sell guns, sellers calling themselves private parties to avoid background checks and 170,000 advertisements offering unknown quantities of guns for sale. The Times reports that sellers often include in listings phrases such as "No questions asked. No paperwork." In all, the analysis revealed that "Armslist and similar sites function as unregulated bazaars, where the essential anonymity of the Internet allows unlicensed sellers to advertise scores of weapons and people legally barred from gun ownership to buy them."

FDA let drugs approved by fraudulent research stay on market

ProPublica reports that in 2011, the U.S. Food and Drug Administration announced years' worth of studies from a major drug research lab were potentially worthless. Those studies were part of the bases for about 100 drugs that made it to the U.S. market. According to ProPublica, the FDA let those drugs stay on pharmacy shelves with no new testing and has refused to name the drugs, saying to do so would reveal trade secrets. Meanwhile, the FDA's European counterpart ordered several of the drugs to be pulled from shelves.
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Extra Extra Monday: Secrecy for sale, a drone deal sealed in blood, bad business loans and ad rates that don't add up

Secrecy for Sale: Inside the Global Offshore Money Maze | ICIJ
“A cache of 2.5 million files has cracked open the secrets of more than 120,000 offshore companies and trusts, exposing hidden dealings of politicians, con men and the mega-rich the world over. The secret records obtained by the International Consortium of Investigative Journalists lay bare the names behind covert companies and private trusts in the British Virgin Islands, the Cook Islands and other offshore hideaways.”

A Secret Deal on Drones, Sealed in Blood | The New York Times
"The C.I.A.’s covert drone war in Pakistan began ...

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Millions of leaked documents reveal impact of offshore secrecy

Dozens of journalists working for the International Consortium of Investigative Journalism sorted through millions of leaked records that "lay bare the names behind covert companies and private trusts in the British Virgin Islands, the Cook Islands and other offshore hideaways." 

International Consortium of Investigative Journalism reports that key findings include: 

  • Government officials and their families and associates in Azerbaijan, Russia, Canada, Pakistan, the Philippines, Thailand, Mongolia and other countries have embraced the use of covert companies and bank accounts.
  • The mega-rich use complex offshore structures to own mansions, yachts, art masterpieces and other assets, gaining tax advantages and anonymity not ...
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