home / subscribe / about us / books / tower / events / archives / search / links /

 

Exclusive to CounterPunch Newsletter Subscribers!

How Bill Saved Hillary from a Federal Indictment

Here’s the second in Alexander Cockburn and Jeffrey St. Clair’s series as they describe Hillary Clinton’s years in Little Rock and her narrow escape from federal charges that would have destroyed her political career for ever.PLUS KEVIN ALEXANDER GRAY on how Hillary Clinton, Barack Obama and John Edwards are failing Black America even as they hunt for votes in South Carolina’s “Black Primary.” Get your copy today by subscribing online or calling 1-800-840-3683 Remember contributions to CounterPunch are tax--deductible. Click here to make a donation. If you find our site useful please: Subscribe Now

Order CounterPunch By Email for Only $35 a Year and Receive a Free Copy of
"Imperial Crusades: a Diary of Three Wars" by Cockburn and St. Clair

Congratulations to CounterPuncher P. Sainath, Winner of the Prestigious Magsaysay Award for Journalism!

Today's Stories

August 2, 2007

Paul Craig Roberts
The Return of the Robber Barons

Robert Fantina
Still Getting It Wrong: the NYT and Iraq

Chris Floyd
Chertoff, Chiquita and Death Squads

Anthony Papa
Drug Treatment isn't a Silver Bullet

 

August 1, 2007

Debbie Nathan
More Secret Payments by Former NYT Reporter to Web Porn Star Surface in Nashville Courtroom

Fred Gardner
Ciao, Michelangelo

Gary Leupp
Why Iraq's Best-Loved Athlete Can't Go Home

David Rosen
America's Top 10 Political Sex Scandals

Winston Warfield
Is the Tillman Case Still a Coverup?

Daniel McBride
Lessons from Bomber Harris: If the US Strikes Pakistan

Glen Ford
The Corporate Plan to Crush Black Resistance

Thomas P. Healy
The Toxic Career of Indiana's Environmental Commissioner

John V. Whitbeck
The Five Percent Solution

David Krieger
Nuclear Weapons and the University of California

Website of the Day
The Tragic Story of Hisham Mohammed

 

July 31, 2007

Kathy Kelly
Dancing in the Darkness: the Story of Abu Mahmoud

Clancy Sigal
The Ghosts of Passchendaele

Paul Krassner
Assholes of the Week: From Baby Doll to Cheney

Joe DeRaymond
Return to the Republic of Death?

Diane Christian
"Winning": What Bush Could Learn from the Shade of Achilles

Chris Floyd
Good News is No News: Why the Bush Adm. Buries Accounts of Extremist Recantations

Ramzy Baroud
Bush's Real Agenda in Palestine

Alan Farago
Battle for the Soul of Florida

Fidel Castro
In Spite of Everything: Reflections on the Pan American Games

Dan Bacher
The Fish Terminator: Schwarzenegger's Campaign to Build the Delta Canal and More Dams

 

July 30, 2007

Marjorie Cohn: Independent Counsel Time

Patrick Cockburn
Four Million Iraqis on the Run

Peter Quinn
Irish in America

Uri Avnery
A Warning to Tony Blair

John Ross
Zapatista Intergalatica Lands on Earth

Ron Jacobs
Free the San Francisco 8

David Vest
Farewell, Old Friend: Another Legend of the Blues is Gone

Jeffrey St. Clair
T99 Nelson: Seduced by a Legend of the Blues

Website of the Day
Collateral Repair Project

 

July 28 / 29, 2007

Alexander Cockburn
Now the NYT is Selling "Bloodbath" as a Rationale to Stay in Iraq

Ralph Nader
Rotten Justice

Robert Fantina
American Lies and Iraqi Nationalism

Fred Gardner
Prohibitionists Attack, Reformers Fundraise

 

Yves Engler
Handwashing and the Bottomline

 

July 27, 2007

John Ross
Bombing Pemex--or Not?

Arthur Neslen
Gaza was a Gas for Blair

Dave Lindorff
Declaring the US a Battlefield: Martial Law is Now a Real Threat

Julene Blair
The Environmentalist Within

Christopher Brauchli
Bush Uses Children as Shock Troops in His War on Socialized Medicine

Jesse Hagopian
Fund the Wounded, Not the War

Charles Modiano
Manufacturing a Villain: Sports Illustrated's Vilification of Barry Bonds

Bill Day
The Hollow Environmentalism of Leonardo DiCaprio

Walter Brasch
Leaders Afraid to Lead

M.D. Mitchell
Farm Based Camps

Website of the Day
Fighting Sarcoma

 

July 26, 2007

Kathleen Christison
The Siren Song of Elliot Abrams

Andy Worthington
Why the Pentagon's Gitmo Study is a Joke

Clancy Chassay
How the Bush White House Seeks to Destroy Lebanon

Marjorie Cohn
Showdown Over Executive Privilege

Susie Day
Apartheid Americana

David Price
Tour de Witch Hunt: Drugs, Diaries and Purges

Marie Trigona
Argentina's "Dirty War" Crimes Trial: The Torturer Priest

Norman Solomon
Media Spin on Iraq: We're Leaving (Sort Of)

William S. Lind
How to Win in Iraq

Natsu Saito
Ward Churchill and the Regents at the University of Colorado

John Stauber
Netroots and the Iraq War: Does Ending It Matter to Them Anymore?

Website of the Day
Sticking It to the Man

 

July 25, 2007

Andy Worthington
Gains and Losses at Gitmo

Gary Leupp
Bush Speechwriter, Michael Gerson, Calls for Attack on Syria

Ray McGovern
The Sad Decline of John Conyers

Dr. Susan Block
Bonobo Bashing in the New Yorker

Joshua Frank
Hillary's Neocon: the Imperial Vision of Richard Holbrooke

Tina Richards
What Harry Reid Doesn't Know About His Own Bill

Ben Terrall
Indonesia's Bloody Brand of CounterTerrorism

Farzana Versey
God Acquitted!: Lessons from the Case of Darwood Ibrahim

Mohammad Ali Salih
A Bomb in My Briefcase?

Laura Carlsen
A Strange Homecoming: Reflections on the First US Social Forum

Ron Jacobs
Come to Kennebunkport!

Sunsara Taylor
Knocked Up is F**ked Up

Website of the Day
Wal-Mart's Flip Flops: Feet Killers


July 24, 2007

Saul Landau
How to Walk in Bushtime

Kathy Kelly
The Plight of Iraqi Refugees in Jordan

Russell Mokhiber
The Michael Vick / George Bush Thing

M. Shahid Alam
Islam Now, China Then

Patrick Cockburn and Anne Penketh
Meeting in Baghdad

Dave Lindorff
Overcoming John Conyers

Binoy Kampmark
You Tube You Can't: Failure of a Medium

Richard Neville
Murdoch's Transplant: a Warning to the Wall Street Journal

Cindy Sheehan
We Must Move Beyond Politics as Usual

Evelyn Pringle
Anti-Depressants and Birth Defects: Why is the CDC Downplaying the Risks?

Norman Solomon
Media Corrections We'd Like to See

CP Newswire
Reading Harry Potter Not Sinful

Website of the Day
Sea Islands Black Heritage Festival

 

July 23, 2007

Andy Worthington
Narcolepsy on Gitmo Detainees

Uri Avnery
A Trap for Fools

Patrick Cockburn
Turkish Prime Minister Threatens to Invade Northern Iraq

Sousan Hammad
The Children Without a Title

John Walsh
Todd Gitlin's Nader Fixation

Harvey Wasserman
Spinning Kashiwazaki: PR Flacks Rush to Aid of Crippled Nuke

Martha Rosenberg
The Life and Times of a Hog-Hanging Farmer

Collin Baber
Here Come the MRAPs: Resurrecting Apartheid Armor for Iraq

Reza Fiyouzat
Iran's Forgotten Anti-Nuke Movement

Stephen Lendman
Saving a President: Scare-Mongering and Executive Orders

Website of the Day
The Port Huron Project

 

July 21 / 22, 2007

Alexander Cockburn
Giuliani and the Dogs of War

Werther
How to Read a National Intelligence Estimate

Ralph Nader
Atomic Blowback

David Keen
Buy Hard: How to Sell an Endless War

Fred Gardner
Karl Rove, Pothead: When Good Drugs Happen to Bad People

Gary Leupp
Edelman's Edict: Is Hillary "Reinforcing Enemy Propaganda?"

Robert Fantina
Fear in Iraq

Saker
The Future of Palestine: an Interview with Jonathan Cook

Rannie Amiri
Nasrallah in the Crosshairs: How will the Third Lebanon War Start?

Mike Whitney
The Crisis in Hedgistan

Dr. Susan Rosenthal, MD
The Hidden Injuries of Powerlessness: Linking Alienation and Dissociation

Monica Benderman
Facing the Truth

Dan Bacher
Deltagate: the Politics of Fish Kills

Michael Baney
Fujimori's Long Race From Justice

Missy Beattie
Here, There and Everywhere

Ron Jacobs
Tremble, Tyrants

Adam Engel
Radical Language: an Introduction

Thomas Naylor
California Split: an Open Letter to Schwarzenegger

Poets' Basement
Landau, Ford and Engel

Website of the Weekend
Surge in Action

 

July 20, 2007

Eliza Szabo
Fatal Neglect: Civilian Casualties in Afghanistan

Pam Martens
Doctoring the News: CNN's Sanjay Gupta, Laura Bush and Merck

Alan Farago
Winners and Losers in the Housing Market Crash

Harvey Wasserman
Lies and Leaks: The Earthquake That Screamed "No Nukes!"

Marjorie Cohn
Iraqis will be the Deciders

Dave Zirin
White Noise and the Black Athlete

Anthony DiMaggio
American Public Opinion and Israel

Scott Liebertz
Oaxaca on Edge

Linn Washington, Jr.
British Cops Assault Rape Allegations

Bill Piper / Anthony Papa
Flying High?: The Political Junkets of Bush's Drug Czar

Ramzy Baroud
Bush's War Policy: When Time Heals Nothing

Website of the Day
The Prankster Art of Mark Jenkins

 

July 19, 2007

Patrick Cockburn
The Next Invasion of Iraq

Remi Kanazi
Is This Ben Gurion or Hell?: a Palestinian Adventure Through Israel's Largest Airport

Winslow T. Wheeler
The Surging Costs of the Iraq War

Sharon Smith
Democrats and Health Care: Behind the Rhetoric

Dave Lindorff
Killing Cabbies in Iraq

Conn Hallinan
Have Gun, Will Travel: Mercenaries in Iraq and Afghanistan

D. K. Wilson
The Michael Vick Case Pulls Back the Veil on Who We Really Are

Joshua Frank
Democrats as Leviathan: Another Step Toward War with Iran

Norman Solomon
The Ghost of Wayne Morse

Russell Hoffman
Rattling the Reactor: Quakes, Fires and Leaks at the World's Largest Nuke

Ray McGovern
Bush's Wooden Headedness Kills

Website of the Day
Protesting Power


July 18, 2007

Brenda Norrell
Spy Towers on the US Border

Col. Dan Smith
How the US Could "Lose" Saudi Arabia

Martha Rosenberg
Lord of Crookharbour: the Trial of Conrad Black

Conn Hallinan
Bombing and Spraying Afghanistan

Binoy Kampmark
The SIM Card Terror Case

Patrick Bond /
Rehana Dada

Who Killed Sajida Khan?

Tom Johnson
The Long Road ... to Nowhere

Paul Craig Roberts
A Free Press or a Ministry of Truth?

Bob Quellos
Pushing the Poor Out of House and Home

Felice Pace
Falling for Lieberman's Iran Resolution

Robert Weissman
National Health Insurance: More Humane and More Efficient

CP Newswire
Shocking Report Showing Involvement of US Psychologists in Torture

Website of the Day
Gilad Atzmon Live!

 

July 17, 2007

Patrick Cockburn
Just Another Day in Iraq: 100 Fathers, Mothers and Children Killed

Marjorie Cohn
Out of Control: Executive Power Plays

Evelyn Pringle
Inside Bush's FDA

David Rosen
Moral Hypocrisy on the Hill: the Christian Right, Sexual Scandal and the Pleasures of the Courtesan

Susan Miller
Width Matters: Displacement and Israel's Wall

Franklin Lamb
Did the UN Cave to Israel on Lebanon's Shabaa Farms?

Don Monkerud
Considering Victory in Iraq

Harvey Wasserman
Nuclear Surge

Russell Hoffman
Japan Dodges a Radioactive Bullet

Dave Lindorff
Feingold Turns to Dross

Dave Zirin
Reclaiming Sports as True Fiction

Website of the Day
Che at the UN: 1964

 

July 16, 2007

Gary Leupp
Cheney Urges Bush to Strike Iran

Ellen Cantarow
The Untold Story of Iraqi Women

Paul Craig Roberts
Impeach Now

Allan J. Lichtman
The D.C. Madam's Public Service

Dan Bacher
Cheney and the Klamath: Was the Veep Behind the Nation's Worst Salmon Kill?

Patrick Cockburn
The Killing of Khalid W. Hassan

Manuel Garcia, Jr.
Property is Racism

James Brooks
AIPAC and Mahmoud Abbas: the Undemocratic Road to Defeat

Liaquat Ali Khan
The Judicial Crisis in Pakistan

Julie Flint
Suleiman Jamous in Limbo

Website of the Day
Free Suleiman Jamous!

 

July 14 / 15. 2007

Alexander Cockburn
Support Their Troops?

Andy Worthington
Gitmo's Tangled Web: Khalid Sheikh Mohammed, Majhid Khan, Dubious US Convictions and a Dying Man

Ralph Nader
Lawlessness, Waste and Incompetence

Robert Fantina
The Illegalities of the Iraq War

Ron Jacobs
Architecture as Military Strategy

Joshua Frank
Eat, Fight, Screw, Pray: An Interview with Joe Bageant

Conn Hallinan
Guns, Foundations and Free Trade: How the Right Targets Africa

Dr. Susan Rosenthal, MD
War and Dissociation

John Ross
No En Nuestro Nombre!: a Letter to the Mexican Antiwar Movement

Fred Gardner
Who's Afraid of Cannabidiol?

Rannie Amiri
A Primer on Israeli Doublespeak

Charles Modiano
ESPN's Rap Sheet: Pacman as Black Man

Anthony DiMaggio
America's Parochial Press

China Hand
Executive Orders and Coercive Diplomacy

Missy Comley Beattie
Reprobate Rhetoricians

Dr. James J. Murtagh, Jr.
Harry Potter Battles Big Brother

Kenneth Rexroth
On Thomas More's "Utopia"

Poets' Basement
Engel, Davies and Orloski

Website of the Weekend
GOP Sex Hypocrites: a Slideshow

 

 

August 2, 2007

An Open Letter to Barney Frank

The Toxic Mortgage Waste Crisis

By ALAN FARAGO

What’s not to like about Barney Frank, the tough talking Congressman from Massachusetts, chairman of the House Financial Services Committee?

He is one of the smartest guys in the Democratic camp, a thick skin and a slight lisp that says, “Go ahead, test me. Make my day.”

But Barney, you need advice.

In good times, a tame federal regulatory atmosphere satisfies Wall Street and its massive campaign contribution capacity. A slap here, a slap there. For instance, committee hearings on biased lending practices. That's bread and butter stuff. The white shirts filter in and out of the hearing room and pay their fine.

Fine. But Barney, the gathering momentum toward a credit meltdown in financial markets is swamping debate how to correct the vast inequities that have piled up across the nation as the late, great housing boom stifled common sense about the unabsorbed costs of growth. Actually, that debate has never happened in Congress.

That debate needs to happen now.

Jon Helsenrath in the Wall Street Journal (“Subprime mess is a new challenge for regulators", July 23) wrote: “A system designed to distribute risk also tends to breed it.” Correct.

The risks to our communities from the bubble in housing markets led to a particularly American form of madness: the assertion by economists and national leaders that inflation was low at the very same time quality of life in urban areas was swamped by unabsorbed costs: inadequate infrastructure piling hundreds of billions of dollars on unwitting taxpayers, bad roadways, degraded wetlands, poor schools, to name a few.

Breeding risk is what America’s fastest growing regions did throughout a housing boom whose promoters bucked reason, citizen outrage and complaints, multiplying debt like confetti and putting taxpayers under the yoke of foolishness.

We want to get out from under the yoke, Barney. Can you help us?

The cause of our national trouble is the market, largely unregulated, for financial derivatives related to housing mortgages. It is a beast with many faces: 10,000 unoccupied condos in downtown Miami, and, tattered, platted subdivisions in South Florida wetlands.

The housing boom, now in cinders, deformed the purposes of government to serve political ends. It favored the massive swelling of unallocated costs of growth. The tail is wagging the dog.

The House Financial Services Committee does not have to confront the builders’ lobby or their leashed companions: local elected officials who lean on every weak-kneed argument to support unsustainable growth.

The Committee has to confront Wall Street.

Now that the House Financial Services Committee is scrambling for things to do, focus on the causes of the multi-trillion dollar explosion of financial derivatives, largely without regulation, except for the mutual hand-washing of rating agencies, debt issuers and hedge funds, that swept aside concern for the environment, for wetlands, for the fabric of communities, and substituted a raft of entitlements, protections, supported by engineers and lobbyists and political enablers: the worst being those at the bottom of the legislative rung—local city and county commissioners whose hands are continually poised in the outward position and turned up.

It is tempting to make Fannie Mae and Freddie Mac stunt-doubles for Wall Street: let them take a beating today for their past fiscal transgressions by assuming the subordinate position as investment vehicles to absorb toxic mortgage waste created during the housing boom of the past decade. That is what is happening, now.

Business Week reports: “Why Fannie and Freddie are Fidgety, the financial giants are loaded down with dicey loans and defaults increase."

“Fannie Mae and Freddie Mac have been cast as saviors in the housing drama that’s roiling the financial markets… After they stepped in to snap up billions of dollars in subprime loans earlier this year, some politicos declared the duo a point of strength.”

Please, Barney, think about it: even if government sponsored entities could pull the nation’s real estate markets from where we are headed, in the end the American taxpayer will have to swallow the toxic waste of financial derivatives buried in failed financial institutions.

Excesses of the building boom are still going on in places like Miami where local legislators are so accustomed to doing the bidding of the development lobby, they don't know any other way to behave: approving new development right into the teeth of market failure.

Call Wall Street to account, now. Hold Congressional hearings on the trillion dollar array of financial derivatives and the market the risk breeders have created that cares not a whit about the costs it imposes on society.

Now is the time for a reckoning about the brain-dead policies that lead to triumph of suburban sprawl, the explosion of unallocated costs of growth, and the massive risk in teetering credit markets.

Think about the Congress for the New Urbanism, the leading organization “promoting walkable, neighborhood-based development as an alternative to sprawl.”
“Countless communities across the country are suffering from the effects of formless sprawl. These communities need tools to combat traffic congestion, pollution, social and economic division, and loss of community interaction.

Unfortunately, it is illegal to practice common sense new urbanist planning in many of these places.”

It was the simple genius of Andres Duany, one of the CNU founders, to observe in his home city, Miami, that developers of suburban sprawl had gamed the zoning and building codes so that common sense vanished. And so did fiscal common sense.

The structured debt debacle in housing markets is the reverse side of the costs of suburban sprawl.

There is a growing attention to “explaining” how the US economy got to the point of a financial crisis in credit markets. Economists talk about “the Hy Minsky moment”: how the cycle of easy credit gathers momentum towards excess and implosion.

Barney, it is common sense that the United States Congress should insist on innovations in banking regulations to codify the issuance of financial derivatives, providing incentives to make sure that the next building boom improves the shape of our communities and does not simply revive the failed models of growth that have enriched Wall Street and penalized Americans.

This building boom is over, but the chorus who want Congress to protect public health, or wetlands and the environment, the hundreds of millions of Americans who want transit-oriented communities instead of the costs of suburban sprawl need help.

The crash in housing markets is revealing an American landscape turned into a dump for toxic financial waste, furthering vast inequities in the wealth of society.
We are your constituents. Barney, speak up, now.

Alan Farago writes about the environment and politics. He can be reached at alanfarago@yahoo.com.



New FromCounterPunch Books

HOW THE IRISH
INVENTED SLANG
By Daniel Cassidy

 

Now Available!
How the Press Failed
The Gang's All Here: Judy Miller, Bob Woodward, Jeffrey Goldberg, Rupert Murdoch, Bill O'Reilly...End Times Leaves No Reputation Unstained!


Buy End Times Now!

Now Available from
CounterPunch Books!
Saul Landau's Bush and Botox World

with a Foreword by Gore Vidal


Click Here to Order!


The Case Against Israel
By Michael Neumann

Click Here to Order Michael Neumann's Devastating Rebuttal of Alan Dershowitz


Grand Theft Pentagon:
Tales of Greed and Profiteering in the War on Terror

by Jeffrey St. Clair