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How the Press Gave Madoff Four More Years to Steal His Billions
It’s one of the greatest and most shameful failures in the history of journalism. In the new edition of our newsletter Eamonn Fingleton traces how the Wall Street Journal was handed a precise outline of Madoff’s Ponzi scheme in 2005 and sat on it. The New York Times also passed on chances to nail Madoff. Thousands, poor as well as rich, lost their life savings in consequence. Read Fingleton on how the watchdogs of the Fourth Estate took good care to snooze in their kennels. ALSO in the new edition, Paul Craig Roberts concludes the shortest, sharpest outline of economics ever written with a brilliant essay on the economics of a full, green world. Get your new edition today by subscribing online or calling 1-800-840-3683 Contributions to CounterPunch are tax-deductible. Click here to make a donation. If you find our site useful please: Subscribe Now! CounterPunch books and gear make great presents.
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Today's Stories February 24, 2009 Paul Craig Roberts Uri Avnery Peter Morici Jonathan Cook February 23, 2009 Michael Hudson Mike Roselle Patrick Cockburn Franklin Spinney Einar Már Guðmundsson Ralph Nader Jordan Flaherty Helen Redmond Dennis Loo Harvey Wasserman Terry Lodge Website of the Day February 20 / 22, 2009 Alexander Cockburn Michael Neumann / Ismael Hossein-zadeh Paul Craig Roberts Linn Washington Jr. Saul Landau Marjorie Cohn Binoy Kampmark Dave Lindorff David Yearsley David Macaray James McEnteer Rick Salutin Wayne Clark Richard Rhames Stephen Martin Mitu Sengupta Charles R. Larson Richard Morse Lorenzo Wolff Poets' Basement Website of the Weekend February 19, 2009 Norman Finkelstein Harry Browne Robert Bryce Brian M. Downing Fred Gardner Andy Worthington Wajahat Ali Laura Carlsen Deb Reich Christopher Ketcham Website of the Day February 18, 2009 Paul Craig Roberts Mike Whitney M. Shahid Alam Patrick Cockburn Conn Hallinan Dave Lindorff Rannie Amiri Gareth Porter Eric Hobsbawm Christopher Brauchli Martha Rosenberg Website of the Day February 17, 2009 Michael Hudson Mike Whitney Ralph Nader Joanne Mariner John Ross Belén Fernández Mats Svensson David Macaray Gregory Vickrey M. Junaid Levesque-Alam Michael Dickinson Website of the Day February 16, 2009 Patrick Cockburn Oscar Guardiola-Rivera Paul Craig Roberts Uri Avnery P. Sainath Dedrick Muhammad / Michael Brown Carla Blank Patrick Irelan Dan Bacher Fidel Castro Harvey Wasserman Website of the Day February 13 - 15, 2009 Alexander Cockburn Joshua Frank Mike Whitney George Ciccariello-Maher Nikolas Kozloff Brian M. Downing Paul Craig Roberts Christopher Ketcham Ron Jacobs Dave Lindorff Alan Maass Chuck Spinney Phil Gasper Stephen Lendman Charles Thomson Kathy Sanborn Saul Landau Len Wengraf Harvey Wasserman David Macaray Tom Stephens Seth Sandronsky David Yearsley Lorenzo Wolff Kim Nicolini Poets' Basement Website of the Weekend February 12, 2009 P. Sainath Jean Bricmont Michael Hudson Peter Lee Dave Lindorff February 11, 2009 Neve Gordon Peter Morici Andy Worthington Marjorie Cohn Fred Gardner Niranjan Ramakrishnan Zoe Blunt Belén Fernández Martha Rosenberg Website of the Day Blues of the Day
February 10, 2009 Kathy Kelly Nikolas Kozloff Uri Avnery Michael J. Berg Russell Mokhiber Joe Bageant Gareth Porter Dave Lindorff Rannie Amiri Harvey Wasserman Niranjan Ramakrishnan Website of the Day February 9, 2009 Vicente Navarro Paul Craig Roberts Julio Sanchez / National Lawyers Guild Jonathan Cook Alana Smith Binoy Kampmark Sam Bahour Nicole Colson Ron Jacobs Website of the Day February 6-8, 2009 Alexander Cockburn Ishmael Reed James Abourezk William Blum Patrick Cockburn Henry A. Giroux Manuel Garcia, Jr. Mouin Rabbani David Yearsley Saul Landau Jules Rabin Raymond J. Lawrence Janette Habel Dave Lindorff Missy Beattie Dale Gieringer John Ross Richard Rhames Bob Wing Robert Bryce David Macaray James L. Secor Jason Flom / Norm Kent Kim Nicolini Lorenzo Wolff Poets' Basement Website of the Weekend February 5, 2009 Michael Mandel Saul Landau / Ralph Nader Robert Bryce Russell Mokhiber Sameh Habeeb / Dave Lindorff Carmelo Ruiz-Marrero George Ochenski Website of the Day February 4, 2009 Arno J. Mayer Paul Craig Roberts Patrick Cockburn Jonathan Cook Fred Gardner Stan Cox Margaret Kimberley Lawrence Velvel Dave Lindorff Doug Giebel Serge Quadruppani Website of the Day February 3, 2009 David Price Bill Moyers Kirkpatrick Sale Conn Hallinan Peter Morici George Ciccariello-Maher Muhammad Idrees Ahmad Allan Nairn Norman Solomon David Macaray Website of the Day February 2, 2009 Uri Avnery Ralph Nader Gareth Porter Paul Craig Roberts Harvey Wasserman Rannie Amiri Cal Winslow Steve Early Alan Farago Diane Farsetta January 30 / February 1, 2009 Alexander Cockburn Michael Hudson Ismael Hossein-Zadeh Dave Lindorff Saul Landau Andy Worthington Subcomandante Marcos Robert Jensen Ron Jacobs Gareth Porter Allan Nairn Laura Carlsen Rev. William E. Alberts Christopher Brauchli Jules Rabin Col. Dan Smith Missy Beattie Tom Barry J. Michael Cole Manuel Garcia, Jr. Dan Bacher David Rosen Don Monkerud Binoy Kampmark Lorenzo Wolff David Yearsley Poets' Basement January 29, 2009 Peter Linebaugh Paul Craig Roberts Riz Khan M. Reza Pirbhai Wajahat Ali Gregory Vickrey Dina Jadallah-Taschler Alison Weir Alan Farago Walter Brasch Website of the Day
January 28, 2009 Norman Finkelstein Noam Chomsky Patrick Cockburn Rob Larson George Wuerthner Allan Nairn M. Junaid Stefan Simanowitz Charles R. Larson Website of the Day January 27, 2009 Winslow T. Wheeler Yigal Bronner / Joshua Frank Jordan Flaherty Ralph Nader Rev. José M. Tirado Benjamin Dangl Russell Mokhiber Martha Rosenberg C. G. Estabrook Website of the Day January 26, 2009 Paul Craig Roberts Deepak Tripathi Vijay Prashad Peter Lee Allan Nairn Uri Avnery John Sayen Dave Lindorff Lawrence R. Velvel David Macaray Roger Burbach Norman Solomon Website of the Day January 23 / 25, 2009 Alexander Cockburn P. Sainath Patrick Cockburn Saul Landau Sasan Fayazmanesh Alan Farago Christopher Brauchli Andy Worthington Ron Jacobs Lawrence Velvel Henry A. Giroux David Yearsley Raymond F. Gustavson Dave Lindorff Roberto Rodriguez Dina Jadallah-Taschler Fidel Castro J. Michael Cole Bob Fitrakis / Ramzy Baroud Mohammad Ali Shabani Richard Rhames Stephen Martin Lorenzo Wolff Kim Nicolini Poets' Basement Website of the Weekend January 22, 2009 Paul Craig Roberts Kathy Kelly Allan Nairn Lawrence Velvel Andy Worthington Peter Morici Joseph G. Davis Adriana Kojeve Benjamin Dangl Website of the Day January 21, 2009 Gabriel Kolko Harry Browne Michael Colby Lawrence R. Velvel Audrey Stewart Wajahat Ali Binoy Kampmark David Kεr Thomson John Ross Allan Nairn Sheldon Richman Website of the Day January 20, 2009 Chuck Spinney Kathy Kelly Raymond Deane Ralph Nader Audrey Stewart Jonathan Cook Harvey Wasserman Christopher Ketcham Robert Jensen Dave Lindorff David Macaray |
February 24, 2009 Part Two: Doing What Must be DoneThe Water LineBy DENNIS LOO No mass sentiment, no matter how widespread and strongly felt, can find concrete and effective expression unless it is organized, focused and led. People who blame the American people for their apathy and conclude that the public is principally (or wholly) at fault for this situation fail to recognize that all societies (and any group of any kind) need leadership. If the existing leaders refuse to abide by the popular will and continue to collude with the rest of the leadership class in this refusal, they can effectively prevent the popular will from being done. In 2006 the American electorate swept the GOP majority out of Congress because the people wanted the Iraq war to end and the Bush White House held to account. The Democratic controlled Congress not only didn’t do these things, they actually gave Bush more money for the illegitimate wars than Bush asked for and legalized after the fact the felonious crimes Bush had been caught committing! What can stop political leaders from refusing to abide by public sentiment when the mass media refuses to reveal the full and true nature of popular sentiment and act as flacks for the political leadership class? If the people as a whole don’t know what’s really going on because they rely for most or all of their news on the same institutions that are acting in fundamental opposition to the majority’s interests, then how can an insurgent movement possibly come into being? How can the people in sufficient numbers come to know that they are being betrayed at the highest levels of their economy and government if the media colludes overall with those carrying out these dirty deeds? Even if everyone in a society wanted to do something that the existing leadership refused to do, they cannot see these sentiments translated into a material reality unless those sentiments are focused and concretely led by political leaders. Had any recognized major political leader such as John Kerry, Nancy Pelosi, Barack Obama, or Hillary Clinton, or major news organization such as the New York Times and CBS, called for impeachment and condemned the lying, spying and torture being carried out by the Bush White House, there would have been a massive outpouring of public support for this. No one would be any longer wondering why the American people had been so passive in the face of grave injustices because the evidence of their sentiment would be manifest. The virtually universal class solidarity demonstrated by this country’s ruling circles against the very idea of impeachment meant that these mass sentiments could not find an outlet for full expression and had to remain on the level of pervasive grumbling throughout the country over lunch counters, dinner tables, around the water cooler, in letters to the editor, in answers to pollsters, and the occasional demonstration of insufficiently large numbers of the most informed, determined, and courageous people. Even among those who were appalled by the Bush White House and even among those who feel great misgivings about what Obama did as a Senator and has done and not done as President, have trouble thinking outside of the box of Democratic Party politics and, more generally, electoral politics. An exceedingly strong pull keeps people in line to gauge what is possible and imaginable by what the existing parties offer. Anything outside the chilling parameters of what the existing parties and mass media are willing to present as “realistic” and “possible” is commonly not even conceptualized seriously by most of the even politically aware segments of the populace. Yet this is precisely what must be done. Anything else is illusion. Elections that the people are permitted to vote in are quite similar to the way a parent gives choices to their small children: you can have the peas or the spinach. If the child chooses the peas, does that mean that that child is in “charge” of what it eats? If we decide as voters which mainstream candidate - who has been backed by mainstream media and by the two parties’ leadership and therefore permitted to participate in the major debates and given the stamp of approval as “legitimate” candidates - does that make this a democracy? Does this mean that the people’s will is done? As I wrote in my June 16, 2008 article “Of Whales and Worms:”
Unless and until a new leadership is constituted from among the public that becomes a new, competing, legitimate authority that a large portion of the people eventually follow and support outside of the electoral arena, then the existing bankrupt leadership will continue to get their way and will at most have to make some cosmetic changes in order to claim that things are really changing for the better. How can a competing alternative leadership emerge when the existing institutions militate against just such a possibility? How can enough people be exposed to and take seriously the offer of an alternative leadership and an alternative path when the organs of opinion-making are in the hands of gatekeepers who are the adversary? If millions of Americans took to the streets to demonstrate and displayed a willingness to persist in their popular upheaval through various forms (tent cities, street blockades, ongoing pickets, etc.), then the political situation would be dramatically different and popular action would have produced a new situation in which substantial changes could potentially occur. To adequately address why this hasn’t happened we need to get to the bottom of what’s holding people back from acting in this way. A Competing, Legitimate Authority Constituting a new legitimate authority from outside of the ranks of the existing leadership class and the major organs of opinion-making represents an extremely difficult feat. For that reason it hardly ever happens. Yet this is exactly what must happen; it offers the only hope for real change. Is there a basis for this to happen? Yes. Does actualizing this possibility present tremendous difficulties and obstacles? Yes. Is it impossible? No. There are really two dimensions to this question. The first is the moral dimension and the second is a practical question. Often times when one discusses these matters with people, those who object that such a strategy will never succeed and say that if they could be convinced that it would succeed then they would participate in such an endeavor, are really saying in essence that they don’t think it needs to happen. Their objection on the surface is about strategy and about practicalities, but their real objection is that they don’t see a real necessity for a fight to be waged against the status quo. Perhaps some reforms need to be made, but that is all. The most important question isn’t one of strategy. The most important question is one of morality and worldview. Are the express violation of the rule of law, the carrying out of torture as policy, and the repeated commission of the gravest war crime of all grounds for urgent, passionate, determined, and unyielding popular action? Can outrageous crimes against humanity be turned over to others to handle for the rest of us? And if those others, our existing government leaders, don’t handle these crimes but let the perpetrators go, are our consciences salved by the fact that we voted for them and if they don’t do what must be done, then we are satisfied merely to grumble and complain about them and the apathy of the rest of America? Does knowing that disaster is in the works yet not doing everything possible to change the course of horrendous events satisfy enough of us that this will be allowed to happen? “The water line is rising and all we do is stand there. The water line is rising and all we do is stand there. The water line is rising and all we do is stand there.” Guardians of Society and of the Future The guardians at our gates are asleep. The water line is rising and they are sleeping off their partying. To move a society, to bring about radical or revolutionary changes, does not require that a majority of people act in concert. It requires only that a relatively small minority of people come forward to lead much larger numbers of people. It requires 1-3% of the population to play that leading role. Any society must lean heavily on its leading citizens to safeguard its most precious values such as civil liberties, science, culture, music, and art since the majority of people in any society are not positioned to be the curators of these things. Critical legal matters most people are not conversant in: the preservation of crucial matters of great subtlety such as habeas corpus rights and due process are like sealing the cracks in the dike lest the dam burst and flood the countryside. If the cracks aren’t detected and allowed to languish by society’s guardians, then the disaster will come inevitably and wreck havoc, perhaps irrevocably. Groups and societies rely on their leaders to act as the defenders of the treasures of a society – its highest and most important values are precious and vulnerable. A society’s best thinkers, writers, musicians, artists, performers, professionals, and engineers push the whole society forward. They reflect the collective wisdom, experiences, activities and imagination of the masses of people, but they reflect those things in a concentrated and advanced way and are its leading edge. The people now in charge of things in the government and in the mass media are not good guardians. They are the very opposite of this. The Democrats among them are cooperating with and colluding with people who see the law as an obstacle to their aims and who think that lying, spying, war crimes, and torture are perfectly fine. A disaster of massive dimensions is gathering like black clouds massing on the horizon. We are in crisis and at a crossroads. In the face of this grand abdication of responsibility and profoundly immoral stance by the existing leaders and opinion-makers a substitute political leadership and political movement must emerge. As I wrote in my book, Impeach the President: the Case Against Bush and Cheney:
End of Part Two. Dennis Loo is an associate professor of Sociology at Cal-Poly Pomona. He is the co-author of Impeach the President: the Case Against Bush and Cheney. He can be reached at http://dennisloo.blogspot.com.
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