home / subscribe / donate / books / archives / search / links / feedback / events / faq
Inside the New Print Edition of Our Subscriber-Only Newsletter!
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.
|
Today's Stories February 23, 2009 Mike Roselle 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 23, 2009 Will He be Able to Get Off?Obama Steps on the Pentagon EscalatorBy FRANKLIN SPINNEY Marmaris, Turkey. Perhaps the greatest weakness in any foreign policy is the temptation to shape it according to the dictates of domestic politics. This seduction corrupts the synthesis of a sensible grand strategy as well as the formulation of sound military strategies. Although the temptation afflicts all nations, recent history has shown the United States to be dangerously prone to seeing and acting on the world through the disorienting lens of domestic politics. One need only recall Bush's asinine grand-strategic assessment that the terrorists hate us, because they hate our way of life, to realize how dangerously misleading this kind of self referencing can become. Bush's inward focus was no anomaly, however. One of JFK's most successful campaign tactics in presidential campaign of 1960, for example, was his phoney allegation of a missile gap between the Soviet Union and the United States, when in fact he knew the opposite was the case. JFK's reckless campaign rhetoric unnecessarily intensified the cold war and reinforced militarists in both political parties. No doubt, his "bear any burden" rhetoric encouraged an atmosphere that helped to pave the way to Vietnam. Ronald Reagon played the same game in 1980, with the same effects, using a phoney assertion of a "window of vulnerability," together with equally spurious claim that the so-called hollow military of the Carter years was the product of budget cuts made by Democrats, when in fact the hollow military was a self-inflicted wound created by a perverse pattern of decision making within the Pentagon. The success of Reagan's gambit intensified the Cold War in the early 1980s and launched an unprecedented "peacetime" spending spree that not only did not fix the Pentagon's decision making pathologies, but put the US defense budget on a budget escalator that now can only be justified by continuing wars after the USSR had collapsed, much as George Kennan had predicted it would (i.e., due more to its internal contradictions than Reagan's spending spree). That the continuing addiction to cold-war level defense budgets needs continuing war to justify the high spending levels can be seen clearly in the obsessive predilection toward bullying coercive diplomacy punctuated by the use of military force, especially bombing, exhibited by President Clinton and especially President George W. Bush. Fast forward to 2008. During the last election, Candidate Barack Obama chose to attack President Bush's catastrophically flawed grand strategy of belligerent warmongering (you are either with us or against us) by portraying Iraq, correctly in my opinion, as an unnecessary war that distracted attention away from Al Qaeda. But to shore up support from the "pro-military" parts of the democratic and independent electorates, Obama contrasted Iraq, the bad war, to Afghanistan, the good war. To that end, he pledged to draw down troops in Iraq and increase troops in Afghanistan, implicitly buying into Bush's grand strategy of an open-ended, militarized, global war on terror -- where al Qaeda remains forgotten but with the anti-Taliban war mutates into a far more dangerous anti-Pashtun war. Pointedly, Candidate Obama never called for reductions in the defense budget. Candidate Obama's domestic politicking is now coming back to haunt President Obama's foreign policy and military strategy. Specifically, Obama's promise to focus on the "good war" is undermining his formulation of a sensible grand stategy as well as a sound military strategy, particularly with regard to the question of escalating our war in Afghanistan and intervening in Pakistan, which is clearly destabilizing Pakistan, the world's only Muslim nation with atomic weapons. To wit -- Obama just approved an increase of 17,000 troops for Afghanistan, which is in line with his campaign promise, but far less than the 30,000 increase requested by the military. According to an unnamed source interviewed by Gareth Porter, the reason he reduced the military's request is because the commander in Afghanistan, General McKiernan, could not tell Obama how the increased force would be used, and the Joint Chiefs of Staff could not tell him what the end-game in Afghanistan would be. In other words, the leaders of the military told Obama they have no strategy in Afghanistan, except doing more of the same, which everyone agrees is not working, and therefore, echoing the peculiar logic found in the Pentagon Papers, the military wants to redeem failure by escalating. Rather than just saying no and telling the military to go back to the drawing board, Obama chose to make good on his campaign pledge by approving a smaller increase than requested (domestic politics), perhaps thinking he could keep his options open by buying himself a little time while he did a strategy study. However, in so doing, he bought into an admittedly strategy-free escalation decision (foreign policy), without understanding the future consequences of that decision. Straddling the fence may make sense in the context of day-to-day domestic politics, but Mr. Obama needs to understand Pentagon plays long-term bureaucratic politics, and over in Versailles on the Potomac, the stakes are high, because careers, budgets, and contracts are at stake. Porter is right, President Obama has made a crucial mistake that could very well come back to haunt him, like the initial decision to escalate in Vietnam, made in 1965 against his better judgement, came back to haunt Lyndon Johnson. That is because, with his approval of a partial escalation in Afghanistan, Mr. Obama is now a vested party in General McKiernan's strategy of mindlessness escalation. And Obama knows it is not good domestic politics to unring the bell. So, Mr. Obama will be under tremendous pressure and temptation to construct a strategy ex-post facto to justify his decision. Moreover, given his approval of an initial escalation, the priniciple of escalation is now an agreed-to option and he will soon learn that his credibility is at stake. You can be sure the milcrats understand this, because Front Loading decisions (i.e., getting politicos to commit to things before they understand the future consequences of their approval) has been raised a high art form in Versailles on the Potomac. It is now virtually certain the milcrats will try to use Obama's initial escalation decision as the thin edge of the wedge to lever in a "new strategy" that will include sending even more troops into the Afghan/Paki meatgrinder. So, is Obama repeating the mistakes of the Americans in Vietnam or the Russians in Afghanistan? General McKiernan apparently doesn't think so, because the arrogantly dismissed analogies to the Russian experience in Afghanistan at a news conference on February 18 by saying, "There's always an inclination to relate what we're doing with previous nations ... I think that's a very unhealthy comparison." Old timers, however, will remember, however, this is exactly how McKiernan's predecessors blew off the warnings of Bernard Fall in the early 1960s, when they dismissed France's experience in Indochina. The sooner Obama realizes that studying and learning from past mistakes is a good idea, the easier it will be for him to jump off the Pentagon's escalator, but he is just where the apparat wants him to be ... alone. He has no George Ball in the Ms. Clinton's State Department to act as the canary in the coal mine. And as for the dilletentes he appointed to sub-cabinet levels in Mr. Gate's Pentagon, the milcrats know it will be far easier to roll over them that it was for their predecessors to successfully roll the best and the brightest in Mr. McNamara's Pentagon. Franklin “Chuck” Spinney is a former military analyst for the Pentagon. He currently lives on a sailboat in the Mediterranean and can be reached at chuck_spinney@mac.com |
Now Available from CounterPunch Books! Waiting for
Lightning
|