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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 18, 2009 Paul Craig Roberts 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 18, 2009 Commanders in Iraq Challenge CentCom on Pullout RiskPushing Back Against PetraeusBy GARETH PORTER CENTCOM Commander General David Petraeus and Multinational Force Iraq (MNF-I) Commander General Ray Odierno have submitted assessments of Iraq combat troop withdrawal plans to President Barack Obama based on the premise that his 16-month withdrawal plan would pose significantly greater risk to "security gains" than the 23-month plan they favour. But a senior commander in Iraq appeared to contradict that premise last week by declaring that security gains in the Shi'a provinces of Iraq are "permanent", and a field commander in Iraq says there is no objective basis for any Petraeus-Odierno finding that Obama's plan carries greater risk than their 23-month plan. Maj. Gen. Michael Oates, U.S. commander for the eight southern provinces of Iraq, denied in remarks to reporters Feb. 12 that the security gains in that region were fragile, contrary to the premise that Odierno has publicly asserted. Oates cited the dramatic reduction in activities by Shi'a militia fighters and the holding of the Jan. 31 elections without any major attacks. In a previous press briefing Jan. 14, Oates had told reporters that, even if violence were to break out after provincial elections, Iraqi security forces "are well prepared to handle that". He also cast doubt on Iranian involvement with Shi'a militias in the south, saying he had "no evidence or reports of people training in Iran", despite periodic "anecdotal intelligence reports" of such training camps. Oates said he had already reassigned combat forces in the region to non-combat missions, either training or economic development, despite grumbling by soldiers. Although Oates did not explicitly address the issue of drawdown plans, he has been known to favour a more rapid withdrawal from Iraq than Petraeus and Odierno for some time, according to a military officer who served under Odierno and is familiar with Oates's views. "His belief is that we need to get out of the country and let the Iraqis take responsibility for their areas," the officer, who asked not to be identified, told IPS. A field commander in Iraq, who spoke with IPS on the understanding that he would not be identified, asserted flatly that there is no greater risk associated with President Obama's 16-month withdrawal plan than with the 23-month plan, contrary to Petraeus and Odierno. The officer said that the U.S. military presence has already "passed the tipping point of diminishing returns" in relation to stability and security in Iraq. "The longer we stay now, the less we achieve," he said. Neither Petraeus nor Odierno has offered any public explanation for their argument that a 16-month drawdown plan would pose greater risk to stability and security than one lasting seven months longer. However, Stephen Biddle of the Council on Foreign Relations, an adviser to Petraeus, argued in Foreign Affairs last fall that the U.S. military presence is "essential to stabilize a system of local ceasefires" between Sunnis and Shi'as and between the militias loyal to Moqtada al Sadr and the Shi'a-dominated government. But the field commander now serving in Iraq told IPS that the U.S. military mission in Iraq has "little correlation" with the present ceasefire between Sunnis and Shi'as. The Sunni-Shi'a conflict, said the officer, "is now one for political supremacy, not a counterinsurgency as defined in the Army's Counterinsurgency manual". He said he had been briefed recently on the U.S. mission in Iraq and had been told it is still a counterinsurgency mission, as it has been for several years. There was "no mention of any peacekeeping function aimed at maintaining ceasefires," the officer said. The idea of enforcing ceasefires is advocated by some in the U.S. command, he said, but that would be "a very different mission from counterinsurgency". Biddle confirmed in an interview with IPS that the U.S. military peacekeeping role he advocates has not been adopted by the MNF-I command. A number of officers in the command, he said, still believe the U.S. objective in Iraq is "the gradual elimination" of all forces competing with the Iraqi government's security forces. Ironically, it was Biddle who revealed in Congressional testimony last April that the reduction in sectarian violence in and around Baghdad beginning in 2007 for which Odierno had credited the U.S. troop surge was actually the result of the heavy defeat of Sunni insurgent forces in a year-long battle with Shi'a militias for control of Baghdad in 2006. Biddle observed that the U.S. military tried to stop the sectarian violence but played "no decisive role" in the ultimate ceasefire between Sunni and Shi'a. In an online discussion on the Washington Post website Feb. 9, Biddle conceded that U.S. troop strength had been insufficient in 2006 to prevent the sectarian violence in Baghdad. That revelation undercuts the Petraeus-Odierno argument that keeping combat troops in Iraq longer than 16 months would help maintain the present ceasefire between Sunni and Shi'a forces. In 16 months, U.S. combat troop strength will be only a fraction of its 2006 level, even under the Petraeus-Odierno plan. The U.S. field commander said that, even if U.S. troops were given the mission of enforcing ceasefires, it would not give the U.S. military any additional influence over either side to remain several more months beyond the 16-month withdrawal period. "At some point [U.S. troops] are going to have to leave," said the commander. "The Iraqis are going to resolve political differences without American military muscle to enforce it. It doesn't matter if that process begins in 16 months, 23 months, or 23 years. We gain nothing with the additional time." "The 1st Cavalry Division cannot make the Shiites and Sunnis kiss and make up," he observed. "They can't make the problems of oil revenue sharing get resolved. Those are issues only Arabs and Kurds can resolve." A second U.S. officer now serving in Iraq, who also asked not to be identified, expressed doubt that a 16-month withdrawal is logistically feasible, based on his experience in a specific area south of Baghdad. But he agreed that it is time to complete the turnover of responsibility to the Iraqi Army and rapidly withdraw U.S. combat troops. "It's time for us to get out," he said in an interview. "If the U.S. military continues to do the job, the Iraqis are going to be lazy, and they won't do it themselves." The officer conceded that the Iraq army "is nowhere near as competent as the U.S. Army," and that "there may be some breakout of bad things" after the troop withdrawal. Nevertheless, the officer warned, "If you don't give the Iraqis the mantle of responsibility, we will be there for another 25-30 years." Gareth Porter is an investigative historian and journalist with Inter-Press Service specialising in U.S. national security policy. The paperback edition of his latest book, "Perils of Dominance: Imbalance of Power and the Road to War in Vietnam", was published in 2006.
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