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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 18, 2009 Paul Craig Roberts 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 18, 2009 Into the ChasmAfghan PitfallsBy M. SHAHID ALAM As the United States prepares to escalate its eight-year war against the Taliban, it might be useful to weigh its chances of success. Consider, first, the fate of three previous invasions of Afghanistan by two great European powers, Britain and Soviet Union, since the nineteenth century. These invasions ended in defeat – for the Europeans. The first British occupation of Kabul lasted for four years. When the British garrison retreated from Kabul in 1842, it was picked off by Ghilzai warriors as they trudged through the snow. Only one British officer, William Brydon, survived this harrowing retreat. This solitary survivor was memorialized in a haunting painting by Elizabeth Butler, titled, Remnants of an Army. The British occupied Kabul a second time in 1878, withdrew a year later, leaving behind a British resident to keep an eye on the Afghans. They returned the same year, when their resident in Kabul was killed in an uprising. When the British withdrew in 1880, discretely, they did not insist on leaving behind a British resident. Nearly a hundred years later, 30,000 Soviet troops, invading from the north, occupied Kabul in December 1979. In order to oppose the growing Afghan resistance, the Russians soon raised their troop strength to 100,000 but never controlled any areas beyond the limits of a few cities. With 15,000 deaths, and unable to sustain growing casualties, the Soviets retreated in February 1989. Will the United States fare better than Britain or the Soviet Union? In terms of logistics, British India and Soviet Union were better placed than the United States. Afghanistan was next-door neighbor to both. It is half a world away from the United States, which, as a result, depends on long rail and road transit through Pakistan to supply and re-supply its troops. Moreover, the supply routes – from Karachi to Kabul – are vulnerable to attacks by the Taliban and their allies in Pakistan. Alternative land supply routes would have to pass through Russia or Iran. Russia might make these routes available, at a steep cost, and keep raising the cost as US troop concentration in Afghanistan rises. Dependence on the Russians may turn out to be trap. Almost certainly, the Iranians will refuse, since, to do so, would badly tarnish its image with Sunni Islam. The Soviet and British invaders primarily had to deal with Afghan fighters. The Americans are fighting the Taliban on both sides of the Afghan border, who, besides the Pushtuns, also have help from several Jihadi groups based in Punjab and Pakistani Kashmir. Pakistan, America's indispensable ally in the war against the Taliban, is an unwilling partner at best; it is also unreliable. Pakistan army has been gang-pressed and bribed into fighting the Taliban, and, as a result, the war is not popular with the junior officers and soldiers. In a rising spiral, Pakistan’s war against the Taliban has provoked them to carry their war deeper into Pakistan. At some point, this could split the Pakistan army, intensify Taliban attacks on Islamabad and Lahore, or force Islamist and nationalist officers to take over and end Pakistan’s collaboration with the United States. Under pressure, the Taliban could launch another attack inside India. After the attacks on Mumbai last November, India was threatening ‘surgical strikes’ against Pakistan, forcing Pakistan to divert its troops to the eastern front. Another Mumbai, followed by Indian surgical strikes against Pakistan, could produce consequences too horrendous to contemplate. Are US objectives in Afghanistan so vital as to bring two nuclear powers to the brink of a war? Iran was not much of a factor when British India and Soviet Union were fighting in Afghanistan. It is now. In Iraq, Iran favored the defeat of the Sunni insurgency once it had denied the United States a victory. In Afghanistan, Iran prefers to create a quagmire for the Americans, ensuring a long stalemate between them and the Taliban. In light of the consequences that have flowed from the US presence in Afghanistan, who would advise an escalation? President Obama still has time to put on hold his plans to send more troops to Afghanistan. Instead, the best political minds around the world should be examining the least costly exit from a war that promises to become a quagmire, at best, and, at worst, a disaster, which no US objective in the region can justify. Unless, dismantling the world’s only Islamicate country with the bomb is an objective worthy of such horrendous costs. M. Shahid Alam is professor of economics at Northeastern University. He is author of Challenging the New Orientalism (2007). Send comments to alqalam02760@yahoo.com. Visit his website at: http://aslama.org.
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