Today's Stories

April 17-20, 2009

Alexander Cockburn
Thin Ice From Here to the Horizon

April 16, 2009

Mike Whitney
A Bulletin From the Captain of the Titantic

Russell Mokhiber
The Top 10 Enemies of Single-Payer

Ronald Teska
From Iraq to Appalachia

Gareth Porter
Predator Blowback

Paul Fitzgerald /
Elizabeth Gould
Thinking Like an Afghan

Benjamin Dangl
Latin America Changes

Kevin Pina
Haiti: Obama's First Foreign Policy Disaster?

Robert Bryce
Another Ethanol Producer Goes Bust

George Wuerthner
See the Forest: the Value of Dead Trees

Paul Garon, David Roediger and Kate Khatib The Surreal Life of Franklin Rosemont

Website of the Day
Socialism and the Facebook Generation

April 15, 2009

Kathleen and Bill Christison
Solving Palestine While Israel Destroys It

Ray McGovern
W, the Torture Decider

Robert Sandels
Is There a Latin American Policy?

Heather Williams /
Paul Baker
Carbon Cap and Trade: How Wall Street will Game the Regs and Trash the Planet

Jack Willoughby
The Lessons of the S & L Crisis

David Swanson
Habeas at Bagram?

Paul Craig Roberts
94 Years of Serfdom

Sara Mann
Norman Rockwell and the Perils of Nostalgia

Kenneth Couesbouc
John Maynard's Martingale: How Keynes Got Rich

Binoy Kampmark
Tax Haven Hypocrisies

Kekuni Blaisdell, Lynette Hi'llani Cruz, George Kahumoku Flores, et al.: An Urgent Letter to Obama on the Rights of Native Hawaiians

Website of the Day
Taxa: the Paintings of Isabella Kirkland

April 14, 2009

Conn Hallinan
The Afghan Rubik's Cube

Mike Whitney
Why is Goldman Sachs So Scared of Mike Morgan?

Peter Morici
Taxing Grandma to Subsidize Goldman Sachs

Greg Moses
Economic Curveballs: the Laffer Posse

Fidel Castro
Obama's Cuba Policy: Not a Word About the Blockade

Robert Weissman
No Blank Check for the IMF

Rebecca Macaux /
Philip Primeau
Somali Piracy and American Foreign Policy

Carmelo Ruiz-Marrero
The Dubious Revoution: Biofuels, the Next Generation

Dave Lindorff
Snatch-and-Jail Justice: the Ugly War on Immigrants

Walter Brasch
The Resurrection of Intolerance

Benjamin Day
Why Has the Press Failed Us in Reporting on Health Care Reform?

Website of the Day
The Appraisal Bubble

April 13, 2009

Patrick Cockburn
Iraqi Militia Fear Reprisals After US Exit

Uri Avnery
Our Dissonance

Jeremy Scahill
A Test Case for Habeas Corpus: Will Obama Prosecute the Somali Pirate in a US Court?

Martha Rosenberg
Suicide Syndrome: Are VA Protocols Behind Iraq Vet Suicides?

Karl Grossman
A Radioactive Extension for Aging Nuclear Plants

Nadia Hijab
Still Waiting: Obama and American Muslims

Sam Smith
America's Cultural Bear Market

James McEnteer
Peru's Shining Example

Sean McMahon
Globalizing Politicide: Israel's Strikes on Sudan

Namihei Odaira
Makota's "Campaign Against Poverty"

John V. Walsh
Bossnapping

Website of the Day
Declining IRS Audits for Big Financial Houses

April 10 / 12, 2009

Alexander Cockburn
Resurrection and Revenge

Chris Floyd
Hope Abandoned: Obama Protects CIA Torture Memos

Mike Whitney
"Liquidate the Banks; Fire the Executives!" Warren's Devastating Report to Congress

Saul Landau
How the Media Bought the Surge

M. Reza Pirbhai
Obama's Afghanistan Plan and India-Pakistan Relations

Franklin Spinney
The Art of the Scam: Wall Street and the Pentagon

Rannie Amiri
Iran's Elections: Why Arab Leaders Want Ahmadinejad to Win

William Blum
The Ideology of Barack Obama

Matt Vidal
Why Card Check Would Help the Economy

Jeff Howison
Death of the Square Deal

Jeff Leys
Resisting the Af-Pak War: the Creech Air Base Arrests

Dave Lindorff
America's Imperial Wars: Why We Need to See the Horrors

Ramzy Baroud
Israel Investigated: But Will It Repent?

Missy Beattie
The Grateful Dead, Wounded and Displaced

Fred Gardner
Fakes Left, Goes Right: Obama's Crossover Dribble on Marijuana Policy

Harvey Wasserman Another $50 Billion for Rust Bucket Nukes?

Suzan Mazur
A Revolution in Biology: an Interview with Nobel Laureate Paul Nurse

Bernard Umbrecht
German Capitalists Take Fire

David Macaray
A Word Clooney, Hanks and Baldwin Should Learn: Solidarity

Janet Kauffman
How to Starve (or Feed) a River

Ron Jacobs
Daring to Struggle, Failing to Win

Norman Solomon
Getting a Death Grip on Memory

Michael Winship
Let the Railsplitter Awake!

Richard Rhames
Empire, Ennui and Extra Cheese

Wanda Fucha
Brother, Can You Spare a Million Bucks?

David Yearsley
My Journey to the Heart of Rahman

Lorenzo Wolff
Getting Beyond the Black-and-White: Jason Isbell's Challenging New Album

Ben Sonnenberg
Rossellini's Louis XIV: "Neither the Sun Nor Death Can be Gazed Upon Fixedly"

Jeffrey St. Clair
Savage Incongruities: the Photographic Life of Lee Miller

Poets' Basement
Corseri and Corzett

Website of the Weekend
The Palestine Chronicle Needs Your Help!

April 9, 2009

Mike Whitney
The Decade of Darkness

Patrick Cockburn
What It Would Take to Mend Fences with Islam

Stephen Soldz
Caught on Tape: Diagnostic Abuse of Veterans

P. Sainath
The Rise of the Shoe-cide Bomber

Ellen Cantarow
Israel's Master Plan for Transfer

Gareth Porter /
Jim Lobe
Obama and Israel's Threat to Strike Iran

Jeremy Scahill
How Many Democrats Will Stand Up Against Obama's Bloated Military Budget?

Jerry Kroth
Saving GM From Bankruptcy--With the Stroke of a Pen

Binoy Kampmark
Fujimori Convicted: A Measure of Justice in Latin America

Fidel Castro
My Meeting with the Black Caucus

Website of the Day
Bird Song Radio

April 8, 2009

John Prados
The Af-Pak Paradox

Bill Moyers /
Michael Winship
Changing the Rules of the Blame Game

Winslow T. Wheeler
The Tooth Fairy and the Defense Budget

Russell Mokhiber
PBS Lashes Back

Kathy Sanborn
Depression Fury

Rev. William E. Alberts
If the Shoe Fits: Bush and Al-Zaidi

James McEnteer Rashomon and the Binghamton Shooter: the Rush to Interpret Jiverly Wong's "Statement"

Nadia Hijab
Olmert's Nightmare

Adam Turl
Card Check on the Ropes

Kevin Zeese
Escaping the Drug War Quagmire

Website of the Day
Walk Score Your Neighborhood

April 7, 2009

David Price
Counterinsurgency's Free Ride

Uri Avnery
Who's the Boss?

Chris Floyd
Talking Peace in Prague, Dropping Bombs in Pakistan

Winslow T. Wheeler Defense Cuts: Gates and the System

Marjorie Cohn
Prosecuting the Bush Torture Team: Spain Leads the Way

Dean Baker
Hands Off Social Security

Diana Johnstone
NATO, Strasbourg and the Black Block

Dave Lindorff
Politicizing Accounting

Martha Rosenberg
Life on HBO's Factory Hog Farm

Evelyn Pringle
Motherhood and the Psycho-Pharmaceutical Complex

Website of the Day
Gaza: Closed Zone

April 6, 2009

Michael Hudson
The IMF Rules the World

Andy Worthington Bagram: Guantánamo's Dark Mirror

Ray McGovern
Profiles in Cowardice: Eric Holder and Colin Powell

Deepak Tripathi
The Pakistan Enigma

Mike Whitney
Bernanke's Financial Rescue Plan: a Glide-Path to Destitution

Norman Solomon
Meet the New Escalators: the Democrats and the Afghan War

Jonathan Cook
Israel Railways Accused of Racism in Firing of Arab Workers

Judith Bello
Justice for the Developmentally Disabled

Deena Metzger Blackwater in Liberia

Dr. M. Kamiar
"There's No 'Eye' in Iran:" Obama's Pronunciation Problem

Website of the Day
Prison Talk

April 3-5, 2009

Alexander Cockburn
From Twin Towers to Twin Camelots

Kathy Kelly /
Brian Terrall
Getting a Closer Look at the Killer Drones

Sue Sturgis
Fooling with Disaster? Startling Revelations About Three Mile Island Raise New Doubts Over Nuclear Plant Safety

Peter Morici
Girding for a Depression

Kathy Sanborn
Homeless in Tent City, USA

Andy Worthington
Britain's Guantánamo: Fact or Fiction?

Rob Larson
Subprime Supreme Court: The Roberts Court Has Become a Powerful New Tool for Business

Saul Landau
Biden and Nixon: a Tale of Two Latin American Experiences

Steve Early
An Evening with Andy Stern

John Goekler
Was Gaza Israel's Waterloo?

Rannie Amiri
Arab League Reconciliation Summit a Bust

Dave Lindorff
Hooray for Juries! A Courtroom Victory for Ward Churchill and Academic Free Speech

Lee Ballinger
Sound Garden: Tom Morello at the Grammy Museum

Ron Jacobs
Artifacts for Survival

David Macaray
AIG Plays the Sympathy Card

John Wight
G20: Capital's New World Symphony

Keeanga-Yamahtta Taylor
Race in the Obama Era

Mychal Bell
Surviving Jena Six

Missy Beattie
Hoop Hopes, War and Peace

Reza Fiyouzat
The Iran/US Rapproachment Dance

Michael Boldin
The War on Drugs is a War on You

Christopher Brauchli
The Pope's Batting 50-50

Charles R. Larson
Too Much Stuff

Susie Day
Bernie Breakout Shocker!!

Stephen Martin
Gordon Brown's Chicken Run at the G20

Kim Nicolini
"Last House on the Left:" Vigilantes of the Bourgeoisie

David Yearsley
Homage to Moog and Mallards

Phyllis Pollack
An Interview with Legendary Rock Producer Chris Kimsey on Working with the Stones, Ronnie Wood, Jimmy Cliff, Peter Tosh and Saint Jude

Poets' Basement
Foley, Valentine and Kozak

Website of the Day
The Corner Store

April 2, 2009

Robert Weissman
What If Obama Had Treated Detroit Like Wall Street?

Eric Toussaint /
Damien Millet
A G20 Meeting for Naught

George Bisharat
Israel's Impunity Must End

Russell Mokhiber
Something is Rotten at PBS

Franklin Lamb
Has Washington Lost Lebanon?

Gareth Porter
Settling Scores in Iraq: Maliki Draws US Troops into Crackdown on Sunni Rivals

David Macaray
Obama and the Ruling Class: "Only the Little People Pay Taxes"

Chris Genovali
B.C.'s Bloody Grizzly Hunt

Sam Smith
The Politics of Adulation

Suzan Mazur
Is Neo-Darwinism Dead?

Website of the Day
Fighting for Change in St. Louis

April 1, 2009

Chris Floyd
Surging Further Into the Afghan Abyss

Stanley Heller
Israeli War Crimes: Thank God, It Was Only Rumors

Mark Brenner, Mischa Gaus and Jane Slaughter Obama's Perilous Plan for Detroit: Restructure the Big 3, But Not With Bankruptcy

Jonathan Cook
The Slow Demise of Ehud Olmert

Eric Walberg
EU in Tatters: Only the Protesters Have Any Vision

Richard Morse
Why Haiti Can't Forget Its Past

Don Fitz
Guess Who Came to Dinner with a Match? Green Mayoral Candidate's Van Firebombed in St. Louis

Laray Polk
Texas and Evolution

Belén Fernández
12 Años de Soledad?

Harvey Wasserman
Cracking the Media Silence on Three Mile Island

Website of the Day
Pentagon Fraud Investigations Fell, While Contracts Soared

March 31, 2009

Uri Avnery
The Deception Tango

Peter Lee
Ghosts in the Machine: the World's Hottest Cyberwar Battlefield

Nicholas Dearden
A New Global Debt Crisis

Dave Lindorff
The Obama Betrayal

Joanne Mariner
"We'll Make You See Death"

Ron Jacobs
Obama's Pakistan Gambit

Wiliam S. Lind
Another Lost War

David Michael Green
Who Says the GOP Doesn't Have a Plan?

Benjamin Dangl
Beyond Elections in the Americas

Johnny Barber
Meditation in Orange

Dedrick Muhammad
Economic Inequality: the Foundation of the Racial Divide

Website of the Day
How the Obama Dems Took Over the Peace Movement

March 30, 2009

Michael Hudson
Financing the Empire: Do US Face G20 Mutiny?

Patrick Cockburn
What Next in Afghanistan?

Henry A. Giroux
Hard Lessons

Mike Whitney
Where's Eliot Spitzer Now That We Need Him?

Ralph Nader
Where's All the Money Coming From?

Paul Craig Roberts
Obama's War on the (Upper) Middle Class

Jeremy Scahill
The Logistical Nightmare in Iraq

Robert Bryce
The Cellulosic Ethanol Delusion

Jonathan Cook
Remembering Land Day in Palestine

Ray McGovern
Obama Bombs

Website of the Day
Hersh: Syria Calling

Weekend Edition
April 17-20, 2009

How the Rich Cashed in on the Crash

Economic Recovery for Whom?

By DON MONKERUD

Banks and financial institutions created a speculative bubble in the housing market and made huge profits selling exotic securities bought with borrowed money. Somehow, they lost control.

Now people are discovering they aren't as rich as they thought they were. Home values fell precipitously; they lost their jobs and credit dried up. No one is to blame except perhaps the generic "bank," yet everyone is to blame because they spent money they didn't have.

With the economy overextended and corporations overleveraged, banks suddenly couldn't cover their outstanding obligations. A resulting credit freeze threw the U.S. and the international economies into a tailspin.

That's the message of two former directors of the Office of Management and Budget: Alice Rivlin from Clinton's administration and Jim Nussle from Bush's administration, speaking at the Panetta Institute 2009 Lecture Series in Monterey on April 13.

Nussle contended the worst is behind us. Decreasing housing values were only on paper; a hard concept to explain to people who thought their property was worth its accessed evaluation and were overtaken by a "reckless euphoria." We shouldn't waste our time finding "someone to blame" because we fooled ourselves into thinking we didn't have to pay our debts. Illegal bank activities should be prosecuted but, essentially, the fault is our own.

"The good news is we missed the grand depression," said Nussle. "I'm an optimist and we have to plug away in a positive direction."

Rivlin was much more nuanced throughout the discussion, stating frankly that we don't know if the crisis is over or whether the stimulus package will work-call her guardedly optimistic: Government intervention is aggressive and has a good chance of working; recovery depends upon whether credit begins to flow again; and unemployment will continue to rise for some time.

"People in high places should have known better," Rivlin said. "Lending standards got very lax and regulators took no responsibility. People making loans took no responsibly for them: They revealed a serious flaw in the system."

Both Nussle and Rivlin agree that some banks are "too large to fail," and need a bailout. Toxic assets must be taken off the books and TARP, the Troubled Asset Relief Program, may succeed. While the two clashed over the role of government, they both agreed that the government must play a role because the whole financial system is so dependent on banks that their failure could lead to a deep depression. Both claim bankers shouldn't be rewarded by a bailout, but reiterate our dependence on banks.

Considered a "hard-core conservative" for his anti-abortion, anti-gay, anti-environmental, pro-NRA, pro-war and 90 percent pro-business voting positions while in Congress, Nussle yammered away on favorite GOP topics: lowering taxes and eliminating government waste. "It's your money," he declared. Freeze the federal budget, cut Social Security and Medicare funding, oppose regulation that will starve innovation, and create new "entrepreneurs." He failed to recognize that such moves led to the Great Depression.

"Capitalism still works and we can't throw it overboard," Nussle said. "We have to make the U.S. more attractive to investments if we are to be successful. We are still one of the best deals in town."

Nussle marches with the GOP; the two percent of the budget that goes for earmarks is terrible (now that Democrats control them), and over 50 percent of the stimulus package is wasted on Congressmen's reelection campaigns. He favors indirect use of government funding to boost the economy and cut taxes on the wealthiest taxpayers: Cut inheritance, capital gains, corporate and progressive income tax and replace them with a "flatter tax." He ignored the failure of the Bush tax cuts for the rich, insisting they increased government revenue.

Rivlin supports progressive income taxes and proposes new taxes on carbon and changes in healthcare and mortgage deductions. Current tax deductions aren't fair, she claims: While the top-income brackets get a 30 percent deduction, the bottom gets only 15 percent. A single rate for everyone would make deductions more equitable. We don't pay a particularly high proportion of income in taxes compared to other countries and our government supports programs because people want them.

William K. Black, author of The Best Way to Rob a Bank is to Own One, contends that the calculated dishonesty of bankers perpetuated a huge fraud. Financial corporations made bad loans, grew rapidly and leveraged assets to increase executive compensation. With the bailout, powerful bankers have taken over the government.

Banks are bankrupt and remain solvent by behind the scenes manipulation and changing the "mark-to-market" rules to revalue toxic assets. As of February, the government has committed over $10 trillion as an investor, lender and insurer of bank debt and by September the Fed plans to print $14 for every $1 in circulation today. Will these moves alleviate the economic crisis or deepen it?

Behind the scenes, banks are rapidly reshifting power, wealth and control of the U.S. economy. We don't know what the economy will look like in the future: We do know the past is gone, the wealthy increased their share of national wealth, and taxpayers are left to pay for it.

Don Monkerud is an California-based writer who follows cultural, social and political issues. He can be reached at monkerud@cruzio.com.

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