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As John Mearsheimer and Stephen Walt's long awaited "The Israel Lobby and U.S. Foreign Policy" draws hysterical abuse, former CIA intelligence officers Kathy and Bill Christison define the Lobby's real nature, trace its history, and measure its actual power. 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
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October 3, 2007 Vijay
Prashad
October 2, 2007 Ibrahim
Warde Gary
Leupp David
Macaray Conn
Hallinan John
Ross Alan
Farago Sonja
Karkar Niranjan
Ramakrishnan Website
of the Day
October 1, 2007 Al
Giordano Paul
Craig Roberts Moshe Adler Ingmar Lee John V. Walsh Norman Solomon Roger Burbach Ramzy Baroud Stephen Lendman Susie Day Website of the Day
September 29 / 30, 2007 Alexander
Cockburn Uri
Avnery Andrew
Cockburn Jeffrey
St. Clair Wajahat
Ali Andy
Worthington Don
Santina Ralph
Nader Fred
Gardner Seth
Sandronsky Gideon
Levy William
S. Lind Reza
Fiyouzat Richard
Rhames David
Michael Green Zach
Mason Poets'
Basement Website
of the Weekend
September 28, 2007 Kathleen
and Bill Christison Roberto
J. González / Saul
Landau Tom
Clifford Christopher
Brauchli Martha
Rosenberg Dave
Zirin Laray
Polk Binoy
Kampmark James
McEnteer Website
of the Day
September 27, 2007 Alan
Farago Andy
Worthington Jonathan
Cook William
Hughes Ray
McGovern Ron
Jacobs Dave
Lindorff Joshua
Frank Anne
Dachel Website
of the Day
Bill
Quigley Paul
Craig Roberts Jeff
Kisseloff China
Hand Behzad
Yaghmaian Sonja
Karkar Mike
Ferner Col.
Dan Smith Clifton
Ross Brenda
Norrell Website
of the Day
September 25, 2007 Nicole
Colson Uri
Avnery Brendan
Cooney Harry
Browne Marjorie
Cohn David
Macaray Ralph
Nader Dan
Bacher Anthony
Papa Christopher
Ketcham Website
of the Day
September 24, 2007 George
Ciccariello-Maher Saree Makdisi David
Keen Sherwood
Ross Ron
Jacobs Donna
Saggia Mike
Ferner Malini
Johar Schueller Monique
Dols Website
of the Day
Alexander
Cockburn Jennifer
Loewenstein Linn
Washington, Jr. Jeffrey
St. Clair Alan
Farago Brian
Cloughley Robert
Fantina Roxanne
Dunbar-Ortiz Jason
Hribal David
Rosen Mike
Whitney John
V. Walsh Dave
Lindorff David
Michael Green Fred
Gardner Cassandra
Jones Roger
van Zwanenberg Poets'
Basement Website
of the Weekend
September 21, 2007 Karim
Makdisi M.
Shahid Alam Alan
Farago Joshua
Frank Dave
Zirin Kenneth
Couesbouc Dr.
Steffie Woolhandler and Dr. David Himmelstein Ben
Terrall Steve
Fournier Frederico
Fuentes, et al Website
of the Day
September 20, 2007 Kathleen
Christison Zoltan
Grossman Paul
Craig Roberts Stan
Cox Russell
Mokhiber Charles
Modiano Raymond
J. Lawrence Brendan
Cooney Website
of the Day
September 19, 2007 Paul
Craig Roberts Paul
Krassner Sgt.
Martin Smith Seth
Sandronsky Claud
Cockburn Victoria
Buch Robert
Weissman Mike
Ferner Dan
Bacher Website
of the Day
September 18, 2007 Mike
Whitney Alan
Farago John
Ross Ron
Jacobs Alex
Doherty September 17, 2007 Marjorie
Cohn Paul
Craig Roberts Ricardo
Alarcón Marc
Levy Eva
Liddell Website
of the Day Sept. 15-16, 2007 Alexander
Cockburn Vicente
Navarro Mike
Whitney Herman
Mindshaftgap Ellen
Cantarow Jordan
Flaherty Zachary
Hurwitz September 14, 2007 Debbie
Nathan Franklin
Lamb Patrick
Cockburn Farzana
Versey Alan
Farago Hank
Edson September 13, 2007 Patrick
Cockburn Scott
Vest, former Air Force Captain at Minot Andy
Worthington Michael
Baney Dr.
Susan Block September 12, 2007 Paul
Craig Roberts Stan
Goff William
Blum Manuel
Garcia Debbie
Nathan September 11, 2007 Patrick
Cockburn Iain
Boal Michael
Dickinson Guerry
Hoddersen Bill
Hatch Gary
Leupp Website
of the Day September 10, 2007 Uri
Avnery Patrick
Cockburn Saul
Landau and Farrah Hassen David
Michael Green Pius
Adesanmi Betty
Schneider September 8 / 9, 2007 Alexander
Cockburn Saul
Landau Ismael
Hossein-Zadeh Ray
McGovern Matthew
Abraham Alan
Farago Christopher
Brauchli Rannie
Amiri Fred
Gardner James
L. Secor Missy
Comley Beattie Ben
Tripp Francis
Boyle Joe
Allen and Paul D'Amato Website
of the Weekend
Robert
Fantina John
Ross James
Brooks Russell
Mokhiber Joshua
Frank John
Walsh Mark
Brenner Mike
Ferner Website
of the Day
September 6, 2007 Kathleen
and Bill Christison Allan
J. Lichtman Norman
Solomon Yifat
Susskind Catherine
Fenton Laura
Santina Farzana
Versey Yves
Engler Kelly
Overton Michael
Simmons Website
of the Day
September 5, 2007 Stan
Goff Michael
Dickinson Matthew
Abraham Patrick
Cockburn Dave
Lindorff Paul
Craig Roberts Clifton
Ross Elizabeth
Schulte Joseph
Grosso Ben
Terrall Website
of the Day
September 4, 2007 Jean
Bricmont Patrick
Cockburn Ron
Jacobs Tom
Kerr Gary
Leupp Sonja
Karkar Heather
Gray Fidel
Castro Jackie
Corr Sunsara
Taylor Website
of the Day
September 3, 2007 Patrick
Cockburn Eamon
McCann Joshua
Frank Chris
Floyd Marjorie
Cohn Walter
Brasch Matt
Reichel Website
of the Day
September 1 / 2, 2007 Alexander
Cockburn Andy
Worthington Saul
Landau David
Keen Patrick
Cockburn Diana
Johnstone George
Longstreth, MD Linda
M. Woolf Ralph
Nader Fred
Gardner Ben
Tripp David
Michael Green Missy
Comley Beattie Michael
Dickinson Paul
Krassner Ron
Jacobs Poets'
Basement
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October 3, 2007 A Crisis of LegitimacyNo Sex, Still a Scandal at the IMFBy ROBERT WEISSMAN Because it did not come amidst a sex scandal and because the outgoing leader was not one of the architects of the Iraq War, the surprise June resignation of the International Monetary Fund's Managing Director Rodrigo de Rato did not garner the gleeful, gossipy headlines surrounding Paul Wolfowitz's disgraceful exit from the World Bank. Last week, the IMF announced the selection of a new leader, Dominique Strauss-Kahn, a former French finance minister, with the world again barely taking notice. But that doesn't mean there isn't scandal at the Fund, or that the Fund's policies are any less important than those of the Bank. For decades, in various names, the IMF, along with the Bank, has imposed "structural adjustment" on developing countries -- a set of corporate-oriented, market fundamentalist policies including slashing of government budgets, sale of government assets to local elites and foreign corporations ("privatization"), deregulation of the economy, and promoting exports and trade at the expense of local needs. IMF policies have left shattered economies around the world, consigned untold millions to poverty, and directly and indirectly destroyed social welfare systems, including healthcare and education systems, throughout much of the developing world. In the last few years, the IMF has seen a remarkable, quiet revolt against its power, influence and policies. Middle-income countries in Asia and Latin America have paid off their debts to the Fund, and announced they won't borrow from the Fund any more. That move follows a string of high-profile Fund failures -- interventions in economic crises (caused in no small part by IMF recommendations for countries to deregulate their financial systems) made drastically worse by Fund advice. But most African countries don't have the resources to pay off their debts to the IMF and other international lenders. They remain stuck in the debt trap, meaning they need new money from the IMF to pay off old loans, or at least the IMF stamp of approval to access capital from other sources. Which means they remain subject to IMF dictates. Among other barbaric consequences, the IMF's obsession with conservative financial prescriptions have left the nations worst hit by the HIV/AIDS pandemic unable to mobilize resources -- or even to use donated monies -- to address the pandemic or other excruciating health needs. In March, the IMF's Internal Evaluation Office (IEO) issued a report far more scandalous than anything connected to the Wolfowitz drama at the Bank. The IEO found that IMF policy was preventing African countries from spending increased foreign aid on its intended purposes. Instead, the IMF was forcing countries to use increases in foreign aid to pay down debts or build currency reserves. Thanks to the IMF, more than 70 percent in increased foreign aid was being diverted, according to the IEO. Alongside this refusal to let countries spend aid for intended purposes, the IMF has capped countries' ability to spend more money on healthcare, including to hire more healthcare workers and pay them more. These are the key steps needed to address the healthcare infrastructure problem that almost everyone agrees is now the main impediment to further scaling up treating for people with HIV/AIDS and resuscitating countries' ability to deliver basic health services to all. Underlying these restrictions on countries' ability to spend money to address pressing health needs is an IMF fixation on what it terms macroeconomic stability, by which it means very low inflation rates and no or limited deficit spending. Dressed up in the guise of technocratic economic advice, they are really policy decisions that restrain economic expansion, preventing countries from generating more resources for their own needs. They are also policies that take no account of the special circumstances of countries facing the HIV/AIDS pandemic. "The IMF doesn't know what the hell it's talking about," says former UN Special Envoy for HIV/AIDS in Africa Stephen Lewis in his trademark direct manner. "It never sufficiently takes into account the damage that is done to a country when you strip the social sectors." In other words, failing to invest in healthcare and education not only is immoral, it actually weakens economies. The costs are particularly high when a deadly but treatable disease is ravaging people in the prime of their working years. Urging an abandonment of these failed policies, more than 100 health and development organizations in a letter today called on Strauss-Kahn to change course. (My organization, Essential Action, was an initiator of the letter sent by the groups to Strauss-Kahn.) The civil society organizations called on Strauss-Kahn, in his first 100 days after assuming office November 1, to ensure that the IMF:
The odds of Strauss-Kahn adopting this agenda, on this timeframe, are, of course, slim. But there is a reasonable chance that a concerted push from civil society -- especially if joined by developing country governments -- can make a difference. The decision by middle-income countries to end their dependence on the Fund has left the IMF with a crisis of legitimacy, not to mention its own fiscal crisis (the interest payments on loans from middle-income countries were a key source of revenue). Strauss-Kahn, who comes from the left side of the French political spectrum, takes office as a self-proclaimed reformer with a special interest in low-income countries. Most of his talk about reform has focused on giving developing countries a greater say in the governing process, not on the substance of Fund policy, however. It is too much to hold out hope that Strauss-Kahn may assist with the transformation of the IMF -- he won't have the power, even on the off chance that he secretly harbors the desire -- but he might lessen the harm caused by the institution, and give the world's poorest countries more policy space. Whether that happens will depend in no small part on whether the world pays attention and demands change. Can some fraction of the attention devoted to whether Paul Wolfowitz improperly helped deliver a big paycheck to his partner be devoted in the months and years ahead to how IMF policies impact the lives and well-being of hundreds of millions of people? Robert Weissman is editor of the Washington, D.C.-based
Multinational
Monitor and director of Essential
Action.
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