U.S. Intelligence “Black Budget” Tops $50 Billion
Documents leaked by Edward Snowden have revealed the CIA has mushroomed into the largest U.S. spy agency with a nearly $15 billion budget as it expands intelligence, cybersabotage and overseas covert operations. On Thursday, The Washington Post published details about the so-called black budget of the nation’s 16 spy agencies. Altogether the spy agencies requested nearly $53 billion last year. More than half the money was split between the CIA, the National Security Agency and the National Reconnaissance Office. The documents also reveal the NSA is paying hundreds of millions of dollars a year to U.S. telephone and Internet companies for clandestine access to their communications networks. In addition, the black budget revealed that the United States has carried out counterintelligence operations against the governments of Israel and Pakistan, as well as Iran, Russia, China and Cuba.
Banks Report Record $42 Billion Profit in Second Quarter
U.S. banks reported a record net income of $42 billion between April and June. At JPMorgan Chase, profits increased by 31 percent to $6.5 billion in the second quarter. That means the bank made on average more than $70 million a day during that period. Meanwhile, CNN Money reports the nation’s five biggest banks are on track to pay out $127 billion in total compensation, including at least $23 billion in bonuses, this year.
Top Firms Produce 73 Percent of Emissions
A new report has found 50 of the world’s top corporations produce 73 percent of greenhouse gas emissions that fuel global warming. According to the Global 500 Climate Change Report, Wal-Mart and Exxon Mobil are among the top 50 polluters whose emissions have risen about 1.7 percent since 2009.