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Today's
Stories
March 4, 2004
Tariq Ali
Notes on Anti-Semitism, Zionism and
Palestine
March 3, 2004
Jack McCarthy
Guy's
Our Guy: "I am the Chief. My Hero is Pinochet."
Robert Sandels
The
Purloined Label: The Struggle Over the Havana Club Trademark
Juliana Fredman / James Davis
Israeli Organized Crime
JG
The Yuppie Silence on Haiti
Emilio Sardi
The
Colombia/US Free Trade Deal: It's About More Than Trade
Alan Farago
Swimming in Sewage
Mike Whitney
"Blood
Will Have Blood": 143 Murdered in Liberated Iraq
CounterPunch Wire
Nader's Legislative Record in the 1960s
Steve Perry
Kerry
Advisory: Remember Lena Guerrero
Nelson George/ Marcus Miller
Miles Davis & Hip Hop: a Conversation
Website of the Day
$10,000 Is Yours for the Taking: The USS Liberty Challenge
March 2, 2004
William Blum
If Kerry's
the Answer, What's the Question?
Conn Hallinan
Haiti:
the Dangerous Muddle
JoAnn Wypijewski
The Bravo
H-Bomb Test: One WMD They Couldn't Hide
Mike Whitney
Regime Change in Haiti: the Bush Dominos Keep Falling
Ra Ravishankar
Afghanistan, the Liberation That Isn't: an Interview with Mariam
from RAWA
Dan Bacher
Merle Haggard & the Politics of Salmon: "Clearcutting
is Rape"
Greg Moses
Oscar White
Brandy Baker
Mel Gibson's Minstrelsy Show
Little Tucker Carlson
What I Did on My Vacation
Robert Fisk
All This
Talk of Civil War, Now This
Merle Haggard
Kern River
Website of the Day
Rebel Edit
March 1, 2004
Alexander Cockburn
Morris
Thanks War Criminal in Front of Billions
Richard Oxman
Oscar's
Obit: Thanking Bob McNamara
Elaine Cassel
Writing and Reading as "Terrorism"
Mickey Z
Thomas Friedman's Education
Mike Whitney
George Will and Anti-Semitism: a Cul-de-Sac of Prejudice
Heather Williams
Haiti
as Target Practice: How the US Press Missed the Story
Cathy Crosson
Chanson d'amour haïtienne
Website of the Day
God Hates Shrimp
February 28 / 29, 2004
Stephen Green
Serving
Two Flags: Neo-Cons, Israel and the Bush Team
Gary Leupp
Another Senseless Bush Battle: Defining and Protecting Marriage
William A. Cook
Israel:
America's Albatross
Ron Jacobs
Kucinich: Good Fight; Wrong Battlefield
Ben Tripp
A Nosegay of Posies: Queer Weddings at Last!
Leilla Matsui
Dances with Crucifixes
Mike Whitney
Dismantle
the Military Goliath
Yoel Marcus
Down and Out in the Hague
Uri Avnery
The Dancing Bear
Linda S. Heard
Britons and Americans Condemned to a Hobson's Choice
Al Krebs
Unmasking a Secret American Empire: Land, Water & Cotton
Stan Cox
Life (Pat. Pend.): Genetic Commandeering
JG
The Haiti Boomerang: "After The Looting & Pillaging,
Your Hunger Will Remain"
Rick Giombetti
Censorship at the Seattle P-I on Forced Psychiatry
Keith Hoeller
The Bankruptcy of Mental Health Insurance Parity
Dave Zirin
Colorado Football: Buffalo Swill
NADERAMA
Alan Maass
Nader and the Politics of Lesser
Evils
Michael Donnelly
Regime
Rotation: Anybody But Bush...Again?
Niranjan Ramakrishnan
Exeunt Serenaders; Enter Nader
Doug Giebel
So Nader's Running? Get Over It
Bruce Jackson
An Open Letter to Naderites
CounterPunch Wire
Stalinists for Kerry! and Other Roars from the Crowd
Poets' Basement
Davies, Scarr, Kearney & Albert
February 27, 2004
Thomas C. Mountain
A
White Jesus During Black History Month?
Laura Carlsen
Americans
Abroad: Bush is Persona Non Grata
John B. Anderson
Nader's Campaign Brings Back Memories: Creating an Open Electoral
Process
Jason Leopold
Spying
on Kofi Annan
John Chuckman
Nader,
Risk and Hope
Standard Schaefer
An
Interview with Michael Hudson on Putin's Russia
Ray McGovern
Punished
for Honest Intelligence
Saul Landau
The
Haiti Redux
Website of the Day
Bush: Why I'm Running for Re-election
February 26, 2004
Brandy Baker
Is Nader
on to Something?
Jacques Kinau
AEI
to Colombia: "Can't Give You Anything But Guns, Baby"
Norman Solomon
Bugging Kofi Annan: UN Spying
and the Evasions of US Journalism
Greg Weiher
A Purloined Letter: the Zarqawi Gambit
Walt Brasch
Janet Jackson, Bush & No. 542: There are No Halftime Shows
in War
Shadi Hamid
The Music World Explodes in Anger
Norman Madarasz
As Canadian as Corruption
Chris Floyd
Bullets and Ballots
Virginia Tilly
The
Deeper Meaning of the Wall
Amy Goodman / Jeremy
Scahill
Haiti's
Lawyer Says US is Arming Haiti's Anti-Aristide Paramilitaries
Website of the Day
Clear Channel Sucks
February 25, 2004
Dr. Susan Block
Saddam's
Sex Therapist and the Rape of Free Speech
Bruce Anderson
Treacherous Bastards: The Greens and the Dems and Nader
Ron Jacobs
Our Power is on the Streets and
in Our Hearts
Mike Whitney
Bush
and Gay America: the Politics of Duplicity
Sam Husseini
Jesus in 100 Words
John L. Hess
Kick Off or Flub?
Sam Hamod
Bush's Newest Red Herring
Cockburn / St. Clair
Winning
with Nader
Website of the Day
VotePact
February 24, 2004
Ralph Nader
Why
I'm Running for President
Greg Moses
Rally
the Mob! Bush, Gay Marriage and the Constitution
Douglas O'Hara
The
Merchants of Fear: Smearing Nader
Phillip Cryan
Frozen in Time: The WSJ's Paranoid
Lens on Latin America
David Lindorff
John Kerry's China Connection
Jason Leopold
Cheney's Shame: Halliburton Faces New Charges
Gary Younge
Haiti: Throttled by History
Kromm, Masri & Purohit
Why No Democracy in Iraq?
Steve Perry
Tangled Up in Red and Blue: Beware the Electoral College
February 23, 2004
Neve Gordon
Israel's Apartheid Wall on Trial
at The Hague
Kurt Nimmo
Richard Perle, Executioner: "Heads Should Roll"
Jonathan Franklin
US Soldier Seeks Refugee Status in Canada
Al Krebs
The Liberal "Intelligentsia" v. Nader
Josh Frank
Nader's Nadir? Not a Chance
Bruce Jackson
Nader, Another View: "He's as Evil as Bush"
Gary Leupp
A Misguided
Attack, The Passion, Rabbi Lerner and the Gospels
February 20 / 22, 2004
Cockburn / St. Clair
Kerry:
He's Peaking Already!
Derek Seidman
Chasing
Judith Miller from the Stage: Watch Her Run!
Ghada Karmi
Sharon is not the Problem
Vanessa Jones
This Week in Redfern, a Boy Dies, Chased by Cops
Ben Granby
Anatomy of a Night Raid on Balad, Iraq
John Holt
An Air That Kills: Greed, Apathy, Dead People
Saul Landau
Entry from a White House Diary
Tom Jackson
Why They Couldn't Wait to Invade Iraq
Frederick B. Hudson
Slave Power and the Constitution: Jefferson, Slaves, Haiti and
Hypocrisy
Roger Burbach
Argentina Fights Back
Kate Doyle
Lessons on Justice from Guatemala
Mike Whitney
Operation Enduring Misery: the Afghanistan Debacle
Greg Moses
What Gives Texas A&M the Right to Trample the Civil Rights
Act?
David Krieger
US Elections: an Opportunity to Debate Nuclear Weapons
Sam Bahour
Palestinian Issue Riddles Bush's Budget
David Grenier
You Could Get 10 Years in Prison Just for Reading This
Charles Sullivan
Corporatism vs. Single Party Politics
Poet's Basement
Hilda White, Larry Kearney & Stew Albert
Website of the Weekend
The Rumsfeld Fighting Technique
February 19, 2004
Cecilie Surasky
Anti-Semitism
at the World Social Forum? That's Not What I Saw
Ray McGovern
Iraq
Hawks and Deceptive Intelligence: Did They Really Think They'd
Get Away With It?
Tariq Ali
How Far
Will Bush Go in Iraq?
Ralph Nader
Whither
the Nation?
Wayne Madsen
Would Kerry Purge the Neo-Cons?
Norman Solomon
The Collapse of Dean's Cyber-Bubble
Christopher Brauchli
Cheney, Halliburton and the NYT
Mike Whitney
Bush's Iraq Strategy: "I Hope They Kill Each Other"
Lewis Carroll
Bush the Mighty Helmsman from Yale
Website of the Day
Sex Toy Horoscope
February 18, 2004
William Wilgus
Bush:
AWOL and Dereliction of Duty
William Blum
Mush-Minded
Liberals
Dave Lindorff
Bush's China Syndrome
Greg Weiher
Why
is Kerry Getting a Pass?
Mike Griffin
Killing the Messenger: the AFL-CIO's Attack on Harry Kelber
Mark Hand
Kerry Tells Peace Movement to "Move On"
February 17, 2004
Mike Ferner
The
Countryside Murders in Iraq
Mokhiber / Weissman
Corporation
as Psychopath
Marjorie Cohn
DrakeGate:
a Victory for Free Speech
Kurt Nimmo
Bush's
Endgame: a Review of Chalmers Johnson's "Sorrows of Empire"
Greg Bates
Nader Ambush: a New Low for The
Nation
Ximena Ortiz
A Bush
Doctrine, of Sorts
Gary Leupp
Whatever Happened to Gen. Khazraji?
Sen. John Kerry
"The Cause of Israel is the Cause of America"
Steve Perry
Kerry
1, Drudge 0
February 16, 2004
James Johnston
Huddling
with the Cheeseheads in a NASCAR World
Sara Eltantawi
To
Wear the Hijab or Not
Bruce Anderson
Kevin
Cooper and the Midnight Needle
Elaine Cassel
Feds
on Campus: the Drake Subpoenas
Rahul Mahajan
Bush,
Is the Tide Finally Turning?
Kevin Cooper
The Ritual of Death
Stan Cox
Goodbye, Howard Dean
Larry David
My War
Steve Perry
Bush and the Guard: the Cover-Up's the Thing
Website of the Day
Prison Patriots: Help This Vital Film Get Made
Hot Stories
Alexander Cockburn
Behold,
the Head of a Neo-Con!
Subcomandante Marcos
The
Death Train of the WTO
Norman Finkelstein
Hitchens
as Model Apostate
Steve Niva
Israel's
Assassination Policy: the Trigger for Suicide Bombings?
Dardagan,
Slobodo and Williams
CounterPunch Exclusive:
20,000 Wounded Iraqi Civilians
Steve
J.B.
Prison Bitch
Sheldon
Rampton and John Stauber
True Lies: the Use of Propaganda
in the Iraq War
Wendell
Berry
Small Destructions Add Up
CounterPunch
Wire
WMD: Who Said What When
Cindy
Corrie
A Mother's Day Talk: the Daughter
I Can't Hear From
Gore Vidal
The
Erosion of the American Dream
Francis Boyle
Impeach
Bush: A Draft Resolution
Click Here
for More Stories.
|
March
4, 2004
Hypocrisy
at the Fed
Greenspan's
Pension
By DAVID LINDORFF
Federal Reserve Board Chairman Alan Greenspan
has caused a political furor by calling this past week for a
cutback in the benefits that the Baby Boom generation can expect
to receive from Social Security when they retire--something that
will start to happen in 2011.
Greenspan made this proposal during his
latest appearance before Congress, claiming the hit on boomers
would be necessary because of the staggering deficits facing
the U.S. in the wake of President Bush's unprecedented tax cuts.
Now aside from the fact that Greenspan
failed to suggest to Congress the obvious alternative solution
for eliminating those staggering deficits--rescinding the tax
cuts that are causing them (in fact he said he favors making
them permanent, instead of letting them expire as would currently
happen without any Congressional action to keep them)--it seems
fair to ask what Greenspan himself is doing about his own retirement.
In fact, Greenspan, who was born in 1926,
has been very careful to prepare a very comfortable retirement
for himself. According to some accounts, one key reason he left
Wall Street and went into government service was for the pension.
As the story goes, Townsend-Greenspan & Co, a pension management
firm that Greenspan founded, actually did such a poor job of
predicting the direction of the market that the enterprise was
about to go belly up and had to be liquidated. As one former
Greenspan competitor, Pierre Renfret, recalls, 'When Greenspan
closed down his economic consulting business to go on the Board
of the Federal Reserve he did so because he had no clients left
and the business was going under. We even went so far as to try
and hire some of his former employees only to find out he had
none for the 6 months prior to his closing. When he closed down
he did not have a single client left on a retainer basis."
According to Renfret, it was the failure
of Greenspan's company that led him to turn to government employment,
initially going to work for the Ford Administration, and later
taking a job with the Federal Reserve Bank.
Since the early--90s, when he hit retirement
age, Greenspan has been cashing a monthly Social Security check
that is at the maximum benefit rate--currently just over $1800.
That might seem chump change for a guy who's pulling down a salary
of $172,000 a year, but it will rise when his wife, NBC journalist
Andrea Mitchell, starts collecting her Social Security and retirement
pension checks, too.
Then of course, there will be that fat
federal pension check that will start arriving when Greenspan
finally decides to step down from his sinecure at the central
bank. According to people familiar with the workings of the federal
pension program, Greenspan can probably expect to collect close
to $100,000 a year in his dotage, making his total personal retirement
take just from pension and Social Security about $121,600 a year.
Of course, it's unlikely that a man with Greenspan's income and
background (he's trained as an economist, worked on Wall Street
and is the son of a stockbroker), wouldn't also have availed
himself of the Keogh and IRA tax breaks available to him, which
means he must have a sizeable private retirement fund too.
It's more than ironic--cynical and callous
are probably better terms--that a man with these kinds of assets,
and who has benefited so handsomely from the New Deal's most
famous legacy, would be out front calling for diminished benefits
for the next generation scheduled to begin retiring just after
him.
It's particularly galling that this call
for benefits cuts is coming from a guy who contributed so mightily
to the mismanagement of the U.S. economy in the late 1990s --
mismanagement that led to the collapse of the stock market two
years ago, and the needless and wanton destruction of millions
of people's retirement funds. Writing in a Morgan Stanley research
report, analyst Stephen Roach says Greenspan, despite admitting
in closed meetings of the Federal Reserve Board that there was
a dangerous stock market bubble developing, publicly endorsed
the ludicrous theory that America has entered a 'new economy"
in which earnings didn't matter, and failed to advocate any significant
measures, such as an increase in margin requirements or a major
increase in short term interest rates, that would have deflated
that bubble, preventing the subsequent crash.
It ill befits those who are well fed
to tell the starving classes to eat less. Neither should those
who will retire like kings advocate taking away the meager income
of those who will have little or nothing to live on when they
are too old to work.
Dave Lindorff,
currently on a Fulbright Senior Scholar residency in Taiwan,
is working on "This Can't Be Happening," a collection
of CounterPunch columns and other musings for Common Courage
Press.
Weekend
Edition Features for February 28 / 29, 2004
Stephen Green
Serving
Two Flags: Neo-Cons, Israel and the Bush Team
Gary Leupp
Another Senseless Bush Battle: Defining and Protecting Marriage
William A. Cook
Israel:
America's Albatross
Ron Jacobs
Kucinich: Good Fight; Wrong Battlefield
Ben Tripp
A Nosegay of Posies: Queer Weddings at Last!
Leilla Matsui
Dances with Crucifixes
Mike Whitney
Dismantle
the Military Goliath
Yoel Marcus
Down and Out in the Hague
Uri Avnery
The Dancing Bear
Linda S. Heard
Britons and Americans Condemned to a Hobson's Choice
Al Krebs
Unmasking a Secret American Empire: Land, Water & Cotton
Stan Cox
Life (Pat. Pend.): Genetic Commandeering
JG
The Haiti Boomerang: "After The Looting & Pillaging,
Your Hunger Will Remain"
Rick Giombetti
Censorship at the Seattle P-I on Forced Psychiatry
Keith Hoeller
The Bankruptcy of Mental Health Insurance Parity
Dave Zirin
Colorado Football: Buffalo Swill
NADERAMA
Alan Maass
Nader and the Politics of Lesser
Evils
Michael Donnelly
Regime
Rotation: Anybody But Bush...Again?
Niranjan Ramakrishnan
Exeunt Serenaders; Enter Nader
Doug Giebel
So Nader's Running? Get Over It
Bruce Jackson
An Open Letter to Naderites
CounterPunch Wire
Stalinists for Kerry! and Other Roars from the Crowd
Poets' Basement
Davies, Scarr, Kearney & Albert
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