Articles by Pratap Chatterjee

Source: Corpwatch

Egyptian security forces launched a massive crackdown on pro-democracy protestors killing around 300 people this morning. Despite near universal condemnation for the violence, the U.S. government has refused cut off the multi-billion dollar aid program that pays companies to provide support to the Egyptian government.

Six weeks ago, the Egyptian army toppled the elected government of Mohammed Morsi in a coup, which automatically disqualifies the country for aid under U.S. law. read more

Source: Corpwatch

TransCanada and the provincial government of Alberta are paying former advisors to the Obama administration – as well as former staff of the Hillary Clinton and John Kerry presidential campaigns – to help them lobby for the proposed Keystone XL pipeline to transport tar sands fuel to the U.S.

The pipeline from Alberta – which is to be built by TransCanada – has been delayed for over four years pending approval from the U.S. State Department which has final say because it crosses the international border. President Barack Obama is expected to announce a decision this fall in consultation with John Kerry, who took over the State Department earlier this year from Hilary Clinton. read more

Source: Corpwatch

Ranbaxy, a subsidiary of Japanese pharmaceutical company Daiichi Sankyo, has paid a $500 million fine and pled guilty to selling adulterated drugs manufactured in India. The settlement comes 16 months after the company signed an agreement with U.S. authorities to change its ways.

The 75 year old company was founded in Amritsar, India, as a distributor of anti-tuberculosis medicines and vitamins for Shionogi, another Japanese company. In June 2008, it was bought for $4.6 billion by Daiichi Sankyo and today it is one of India’s top pharmaceutical exporters to the U.S. with $453 million in sales last year. read more

Source: CorpWatch

The medieval alchemists claimed they could turn ordinary metals into gold. Analysts at Standard & Poors (S&P), Wall Street’s top ratings agency, claimed that bad loans to poor people were wildly profitably. A U.S. government investigation alleges that S&P financial analysts are no different from the hucksters of yore.

On Monday, the U.S. Department of Justice sued S&P for $5 billion for misleading the Western Federal Corporate Credit Union, the first federally chartered credit union, which collapsed in 2008.  Sixteen states have joined the lawsuit while the U.S. Securities & Exchange Commission has also launched an investigation. S&P has offered to settle for $100 million instead without admitting any guilt. read more

Source: CorpWatch

When Blackwater offered Salva Kiir, the president of South Sudan, a package of military aid, they arranged a delivery of ten special encrypted satellite phones. In a similar bid to befriend the King Abdullah of Jordan they presented him with the “mercenary version of a fruit basket: an assortment of Glocks, along with a Remington shotgun and a Bushmaster M4 rifle.”

Blackwater, a 15 year old North Carolina private security company, is best known for an incident when its employees gunned down 17 civilians in Nissour Square, Baghdad in September 2007. read more