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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 26, 2009 Dave Lindorff
February 25, 2009 Chris Sands M. Shahid Alam Chris Floyd Dave Lindorff Norman Solomon Rachel Godfrey Wood Niranjan Ramakrishnan Ron Jacobs Nadia Hijab Dennis Loo Website of the Day February 24, 2009 Paul Craig Roberts Uri Avnery Peter Morici Jonathan Cook Paul Fitzgerald / Andy Worthington Brian Horejsi Julia Stein Norm Kent Rachel Smolker / Dennis Loo James McEnteer Website of the Day 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 26, 2009 Color Blind, Power ObliviousEric Holder and the Whitewashing of RacismBy TIM WISE It was all too predictable that Attorney General Eric Holder would be attacked for his recent remarks about race in America. To suggest that the nation is still haunted by the specter of racism is unacceptable it seems, especially since, with the election of President Obama, we have ostensibly entered the "post-racial" era. But in truth, the nation's chief law enforcement officer deserves criticism more for what he didn't say than for what he did. Specifically, Holder blamed personal cowardice for our racial divide, rather than institutionalized inequities, thereby minimizing his own Department's role in solving the problem; and he blamed everyone (and thus no one in particular) for being cowards, thereby letting white Americans--who have always been the ones least willing to engage the subject--off our uniquely large hook. This combination of power-obliviousness (ignoring discrimination and unequal access to resources, while focusing merely on attitudes) and color-blindness (suggesting that everyone is equally at fault and equivalently unwilling to discuss racism) is a popular lens through which to view these matters. Indeed, the Oscar-winning film "Crash" was based almost entirely on these two tropes. But such a lens distorts our vision, and obscures true understanding of the phenomenon being observed. The racial divide about which Holder spoke, particularly in terms of the neighborhoods where people live, is not the result of some abstract cowardice to engage one another. Rather, it is about the racist fears of whites, who decades ago began leaving neighborhoods when blacks And in their fears, these whites were assisted by government policy, which subsidized their flight via FHA and VA loans that were all but off limits to people of color. This is how (and why) the suburbs came to be. From the 1940s to the early 60s, over $120 billion in home loans were made to whites, preferentially, thanks to these government efforts, while blacks and other persons of color were excluded from the same. Indeed, about half of all homes purchased by white families during this time were financed thanks to these low-interest loans, while folks of color remained locked in cities, their dwellings and businesses often knocked down to make way for the very interstates that would shuttle their white counterparts to the suburbs where only they could live. We remain residentially divided today because of the legacy of those apartheid-like policies, as well as ongoing race-based housing discrimination: between 2 million and 3.7 million incidents per year according to private estimates. It is the AG's job to do something about that by enforcing the Fair Housing Act, not pleading for more dialogue. As Elvis once said, albeit about a very different subject, we need "a little less conversation, a little more action, please." Holder also pulled a punch by issuing his charge of personal cowardice indiscriminately, as if to say that everyone was equally averse to tackling the subject of racism. But people of color have always voiced their concerns about the matter. It is whites who have tended to shut down, to change the subject, or to minimize the problem by telling those who mention it to "get over it already," or by accusing them of "playing the race card." As exhibit one for this charge, consider the way in which most of white America has reacted to the recent New York Post cartoon, in which police officers gun down a wild ape, meant to represent the author of the stimulus bill; and this, directly opposite a picture of President Obama signing that very piece of legislation. That such an image trades on longstanding racist stereotypes is apparent to most folks of color, and yet, most of white America has yawned through the controversy, or worse, accused blacks enraged by the image of hypersensitivity. Likewise, most whites reacted with unaffected diffidence at the New Year's day videotape from the Oakland subway, in which a white police officer coolly executed a black man by the name of Oscar Grant, despite Grant putting up no resistance, possessing no weapon, and posing no threat to the officer. On message boards in the Bay Area--supposedly filled with progressive types to hear locals tell it--whites regularly expressed more outrage at protesters demanding justice for the Grant family, than at officer Mehserle for committing cold-blooded murder. Sadly, whites are rarely open to what black and brown folks have to say regarding their ongoing experiences with racist mistreatment. And we are especially reluctant to discuss what that mistreatment means for us as whites: namely that we end up with more and better opportunities as the flipside of discrimination. After all, there is no down without an up, no matter how much we'd like to believe otherwise. It is white denial, as much as anything, which has allowed racial inequity to persist for so long, and it's nothing new. In the early 1960s, even before the passage of modern civil rights laws, two out of three whites said blacks were treated equally, and nearly 90 percent said black kids had equal educational opportunity. Matter of fact, white denial has a longer pedigree than that, reaching back at least as far as the 1860s, when southern slave-owners were literally stunned to see their human property abandon them after the Emancipation Proclamation. After all, to the semi-delusional white mind of the time, they had always treated their slaves "like family." Until we address our nation's long history of white supremacy, come to terms with the legacy of that history, and confront the reality of ongoing discrimination (even in the "Age of Obama"), whatever dialogue we engage around the subject will only further confuse us, and stifle our efforts to one day emerge from the thick and oppressive fog of racism. For however much audacity may be tethered to the concept of hope, let us be mindful that truth is more audacious still. May we find the courage, some day soon, to tell it. Tim Wise is the author of: White Like Me: Reflections on Race from a Privileged Son (Soft Skull Press, 2005), Affirmative Action: Racial Preference in Black and White (Routledge: 2005) and "Between Barack and a Hard Place: Racism and White Denial in the Age of Obama." He can be reached at: timjwise@msn.com
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