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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

Feb. 27 - March 1, 2009

Harry Browne
Where the Cheats Have No Shame

February 26, 2009

Dave Lindorff
Obama's Address to Congress

Jonathan Cook
Israel's Military Mephistopheles

Patrick Cockburn
Did the US Learn Anything in Iraq?

Mike Whitney
The Geithner Put

Eamonn McCann
"Make Bono Pay Tax"

Tim Wise
Eric Holder and the Whitewashing of Racism

Tom Barry
Napolitano's Hard Line

Harvey Wasserman
Obama's Excellent Atomic Omission

Adam Turl
The Enemies of Unions and the Lies They Tell

David Macaray
When People are Fired Illegally

James McEnteer
Rush to the Rescue: Limbaugh's Secret Plan to Save the Economy

Website of the Day
The Carbon Casino

 

February 25, 2009

Chris Sands
Afghanistan: Chaos Central

M. Shahid Alam
Israel in 1948: Poised for Expansion

Chris Floyd
Obama's Non-Withdrawal Withdrawal Plan

Dave Lindorff
Wall Street and Bernanke: the Blind Leading the Blind

Norman Solomon
The Slow Pullout Method

Rachel Godfrey Wood
Neoliberals Do The Amazon

Niranjan Ramakrishnan
Teacher and Student: the New Class Struggle

Ron Jacobs
It Ain't Over Till It's Over

Nadia Hijab
The First Waltz

Dennis Loo
The Water Line

Website of the Day
Hitchens Gets Stomped by Syrian Nerd

February 24, 2009

Paul Craig Roberts
How the Economy was Lost

Uri Avnery
Coalition Theory

Peter Morici
Is Nationalization Inevitable?

Jonathan Cook
Arab Parties Face Most Hostile Knesset in History

Paul Fitzgerald /
Elizabeth Gould
The Man Who Shouldn't be King (of Afghanistan)

Andy Worthington
Who is Binyam Mohamed?

Brian Horejsi
Crisis Creates Hope for Reality

Julia Stein
I was a Writer for the Government

Norm Kent
How Judges Disgrace the Bench

Rachel Smolker /
Brian Tokar

Biofuels, Promise or Threat?

Dennis Loo
The Water Line: Doing What Must be Done

James McEnteer
The Oscar for Denial

Website of the Day
How to Destroy a Fox News Anchor

February 23, 2009

Michael Hudson
The Language of Looting

Mike Roselle
On Cherry Pond: Going Up Against Big Coal in W. Virginia

Patrick Cockburn
The New War in Iraq

Franklin Spinney
Obama Steps on the Pentagon Escalator

Einar Már Guðmundsson
A War Cry From the North

Ralph Nader
How Credit Unions Survived the Crash

Jordan Flaherty
A New Orleans Intifada?

Helen Redmond
Ted's Table: Kennedy and the Corporate Lobbyists Craft a Health Plan

Dennis Loo
The Water Line

Harvey Wasserman
Jet Crashes and Nuclear Reactors: Feds Ignore a Serious Risk

Terry Lodge
The Intelligence is Wrong

Website of the Day
BadCreditReport.Com

February 20 / 22, 2009

Alexander Cockburn
The Lawyer's Tale

Michael Neumann /
Osha Neumann

Remove Our Grandmother's Name from the Wall at Yad Vashem

Ismael Hossein-zadeh
Herbert Hoover Copycats

Paul Craig Roberts
Bill of Rights Under Fire

Linn Washington Jr.
The NY Post's Chimpanzee Cartoon

Saul Landau
On the Road Again

Marjorie Cohn
War Criminals Must be Prosecuted (And Their Lawyers Too)

Binoy Kampmark
Cricket and Cartels: the Fall of Sir Allen Stanford

Dave Lindorff
Using the Recession to Hammer Workers

David Yearsley
Edward Said's Greatest Musical Writings

David Macaray
A Closer Look at the Employee Free Choice Act

James McEnteer
Last Mambo in Minnehaha

Rick Salutin
A Canadian Looks at Obama

Wayne Clark
South Carolina Nears the Abyss

Richard Rhames
Got Farms?

Stephen Martin
Silver Mist Descending

Mitu Sengupta
Slumdog Millionaire's Dehumanizing View of India's Poor

Charles R. Larson
Slumdog Reality?

Richard Morse
Carnival Ramble in Haiti

Lorenzo Wolff
Desperation in an Unavoidable Groove

Poets' Basement
Three Poems of Tu Fu (Trans. K. Rexroth)

Website of the Weekend
Ron Paul: What If the People Wake Up?

February 19, 2009

Norman Finkelstein
The Cleanser: Lobbyists Whistle Up Cordesman to "Prove" Israel Waged a Clean War in Gaza

Harry Browne
How Ireland Went Bust

Robert Bryce
Why the Promise of Biofuels is a Lie

Brian M. Downing
The Winding Road: From Western Europe to Kyrgyzstan

Fred Gardner
The DEA Chief's $123,000 Flight

Andy Worthington
Obama's Uighur Problem

Wajahat Ali
Aftermath of a Beheading

Laura Carlsen
A New Attitude at the White House Toward Bolivia and Venezuela?

Deb Reich
Gaza: Choose Life!

Christopher Ketcham
Crisis? What Crisis?

Website of the Day
Taking Back NYU

February 18, 2009

Paul Craig Roberts
President of Special Interests

Mike Whitney
Trouble at Treasury

M. Shahid Alam
Afghan Pitfalls

Patrick Cockburn
A Real Surge at Last

Conn Hallinan
Death's Laboratory

Dave Lindorff
Whatever Happened to Antitrust?

Rannie Amiri
The Perils of Blogging in Egypt

Gareth Porter
Pushing Back Against Petraeus on Pullout Risks

Eric Hobsbawm
Remembering V. G. Kiernan

Christopher Brauchli
The Pope's Predicament

Martha Rosenberg
It's the Cymbalta Stupid

Website of the Day
Red Gold

February 17, 2009

Michael Hudson
The Oligarchs' Escape Plan

Mike Whitney
The Global Ditch

Ralph Nader
The One-Dimensional Congress

Joanne Mariner
Benchmarking Obama: How to Evaluate the New Administration's Counter-Terrorism Policies

John Ross
Commodifying the Revolution: Zapatista Villages Become Hot
Tourist Destinations

Belén Fernández
The Venezuelan Referendum From the Back of a Pickup Truck

Mats Svensson
Who is a Terrorist?

David Macaray
Why America Needs Labor Unions

Gregory Vickrey
$400 in Change

M. Junaid Levesque-Alam
Another Hamastan?

Michael Dickinson
Unrest in Istanbul

Website of the Day
Take a Stand for Open Access

February 16, 2009

Patrick Cockburn
Iraq Reconstruction: the Greatest Fraud in US History?

Oscar Guardiola-Rivera
The Truth About Colombia's New Emperor

Paul Craig Roberts
Who Remembers Guns and Butter?

Uri Avnery
Livni's Bitter Options

P. Sainath
The Meltdown: Whose Crisis Is It?

Dedrick Muhammad / Michael Brown
White Recession, Black Depression

Carla Blank
A New New Deal for the Arts

Patrick Irelan
Venezuela Ends Term Limits

Dan Bacher
Is Delta Pumping Driving Salmon and Orca Decline?

Fidel Castro
Chavez's Clarion Call

Harvey Wasserman
Hail to the Spleef: Did George Washington Smoke Pot?

Website of the Day
Mining Black Mesa

February 13 - 15, 2009

Alexander Cockburn
On the Rocks

Joshua Frank
The Myth of Clean Coal

Mike Whitney
Geithner's Coming Out Party

George Ciccariello-Maher
Venezuela's Term Limits: More Hypocrisy From the NYT

Nikolas Kozloff
Venezuela Beyond the Referendum

Brian M. Downing
Pakistan on the Brink

Paul Craig Roberts
Deficit Nonchalance

Christopher Ketcham
Israel's Ball Boys

Ron Jacobs
At a Campus Sit-In Against Israeli Occupation

Dave Lindorff
Why Can Judd Gregg See What Obama Can't?

Alan Maass
Lincoln at 200

Chuck Spinney
Grassley Sounds Off on Obama's Man at the Pentagon

Phil Gasper
Mr. Darwin's Reluctant Revolution

Stephen Lendman
A Short History of Business Handouts

Charles Thomson
Tate Cruises: Caveat Emptor on the High Seas

Kathy Sanborn
The Suicide Rush

Saul Landau
Bowled Over

Len Wengraf
The Nightmare in Somalia

Harvey Wasserman
Striking a Blow Against Nuclear Power

David Macaray
An Easy Call for Obama on Joining a Union

Tom Stephens
Four Freedoms, Four Changes

Seth Sandronsky
Lincoln and the Collective Mind

David Yearsley
On the Road Again

Lorenzo Wolff
Freaking Out With Danny Barnes

Kim Nicolini
The Body of the Worker: What "The Wrestler" Says About the State of America

Poets' Basement
Anderson, Buknatski and French

Website of the Weekend
The Iranian Revoution and the US Dual Containment Policy: a Presentation

February 12, 2009

P. Sainath
Neo-Liberal Terrorism in India: The Largest Wave of Suicides in History

Jean Bricmont
French Echoes of the Israeli-Palestine Conflict

Michael Hudson
Trying to Revive the Bubble Economy: Obama's Awful Financial Recovery Plan

Peter Lee
Pakistan, Not Afghanistan, is the Main Event

Dave Lindorff
Judges Nabbed, Jailing Kids for Kickbacks

 

February 11, 2009

Neve Gordon
Few Peacemakers in the New Israeli Knesset

Peter Morici
Anatomy of a Hemorrhage

Andy Worthington
Who's Running Guantánamo?

Marjorie Cohn
A Call to End All Renditions

Fred Gardner
Change We Can Smoke?

Niranjan Ramakrishnan
The G & O (Geithner and Obama) Bank

Zoe Blunt
Vancouver Island Hippies: Top Security Threat for 2010?

Belén Fernández
Politics on the Panamericana

Martha Rosenberg
Don't Breathe the Meat

Website of the Day
George Dyson on Project Orion

Blues of the Day
David Vest on the CBC

 

February 10, 2009

Kathy Kelly
How Do People Keep Going?

Nikolas Kozloff
The Stimulus Imbroglio

Uri Avnery
Dirty Socks

Michael J. Berg
Will South Carolina be the Center of the Nuclear Revival?

Russell Mokhiber
Et Tu, Atul?

Joe Bageant
A Commodity Called Misery

Gareth Porter
Petraeus' Subterfuge

Dave Lindorff
Seek Truth, But Prosecute Liars

Rannie Amiri
The Implications of Recognizing Israel's "Right to Exist"

Harvey Wasserman
Nukes and the Stimulus

Niranjan Ramakrishnan
What We Didn't Learn at Obama's Press Conference

Website of the Day
RIAA Takes Over DoJ Under Obama

February 9, 2009

Vicente Navarro
Why Sanjay Gupta is the Wrong Man for Top US Health Job

Paul Craig Roberts
Driving Over the Cliff

Julio Sanchez /
Feliz de Bedout
The Threat of Peace in Colombia: an Interview with Hollman Morris

National Lawyers Guild
Strong Indications of Israeli War Crimes

Jonathan Cook
Israeli University Welcomes "War Crimes" Colonel

Alana Smith
The Nightmarish Case of Fahad Hashmi

Binoy Kampmark
Taking the Bong

Sam Bahour
End the Occupation First

Nicole Colson
Can You Afford College?

Ron Jacobs
Remembering the Second Intifada

Website of the Day
The Legacy of Ed Grothus and the Black Hole

Norman Solomon
Why are We Still at War?

David Macaray
The Late, Great UAW

Website of the Day
The Bloody Cove


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Weekend Edition
February 27 - March 1, 2009

The Drama is in the People

Civic Heroism Awards

By RALPH NADER

As the 2009 Academy Awards swept their way into history, the glitz and the massive global audiences show that across cultures fictional stories, mythologies and money go hand in hand.

As the nominees for the awards were briefly showcased for their artistic imagination in one category after another, it occurred to me that the saying ?truth is stranger than fiction? has another meaning. Many people would rather see fiction than the real thing.

What if, permit a flight of fancy, there were the equivalent of the ?Academy Awards? for the civic heroism that goes on every day here and abroad. The powerless valiant ones who challenge the powerful and corrupt in ways that throughout history have broken new ground for more justice, economic well-being, health, safety and freedom. They are mostly unsung. They are often marginalized or maligned.

The history books make reference to only a very few?anti slavery abolitionists, women fighting for the vote, workers for the right to organize, farmers for federal regulation of brazen banks and railroads. People take on, for example, corrupt city machines, company towns dominated by a single plant or mine, toxic contamination of drinking water supplies, corporate looters of worker pensions, manufacturers of defective cars and harmful medicines.

Recognition before large audiences keeps a highly nourished concept of the heroic before the people. It gives support to those who take the first step and who speak truth to power. Acclaim is protective and encourages more people to follow in the shoes of these citizen-pioneers. Civic heroism changes the culture and the dreams of youth.

Movies are meant to be dramatic and can take liberties with reality even when they are describing real-life situations and people. But Hollywood can make almost any story dramatic and interesting. Look at Frost/Nixon. On the other hand, there have been great flops with pure violent action?consider Battlestar Galactica.

Anything that is important to people in the course of their daily life can be made interesting. Real life narratives of people taking on power and cruelty can be compelling, without losing authenticity.

How would the Civic Heroism Awards be organized? The process would start at the community level with nominations and take it up to the state, national, and international level. Unlike game shows and beauty contests, the nominees would not be allowed to promote themselves. What they have already done is why they have been nominated. There is no present or future enhancement at ever higher levels of awards for what they had accomplished and striven for in the past.

Consider for a moment the peoples? infrastructure that such a multi-tiered annual award process would stimulate. Local video producers would see an opportunity to profile potential nominees over the Internet, Cable and local screenings. The digital era assures the widespread egalitarian prevalence of such productions. Thousands of communities would be involved.

Discussions, debates and banter would be stimulated over the criteria for nominations which would include awards for ?the supporting cast? around the heroes as is done by the Academy Awards.

The teaching of civics in the local schools would become more attached to local activities beyond textbook study. Putting a human face on civic action will stir the minds of youngsters presently saturated with often degrading electronic ?virtual realities.?

The positive repercussions are many. Just the chance to become civic celebrities through this process of recognition increases media exposure and greater attention to the serious conditions and reforms that the nomination processes highlight.

The formulaic local television evening news?with its nine minutes of ads, four minutes of sports, four minutes of weather, chitchat, animal stories and miscellaneous fluff leaves very little time for civic news to attract the dwindling number of television reporters. Daily civic efforts to improve community life and justice wither on the vine for lack of any media coverage.

Civic heroism awards?done in a professional and exciting manner?can compel news coverage. Even in print form, columnists like Nicholas Kristof of the New York Times roams the continents of Asia, Africa and South America to find the most courageous and besieged people standing up at great risk for human dignity and humane treatment.

The drama is in the people. The search is for the civic dramatists to find their calling. Finally, philanthropy needs to come forward to jumpstart what could become the citizen equivalent of the Academy Awards from the local to the global for these stalwart pillars of just and democratic societies.

Readers: do you know any likely philanthropists? Have them contact Awards Project at PO Box 19367, Washington, DC, 20036.

Ralph Nader is a consumer advocate and three-time presidential candidate.

 

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Grand Theft Pentagon
How They Made a Killing on the War on Terrorism
 
 

 
 
 


The Occupation
by Patrick Cockburn

 
 

Humanitarian Imperialism
By Jean Bricmont
 

 
 

CITY BEAUTIFUL
By Tennessee Reed