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Putting Finance Capitalism "Back in Its Box"
Stephen Lendman
So writes Philip Augar in an April 13 Financial Times (FT) op-ed. He's a former UK investment banker/broker and author of The Death of Gentlemanly Capitalism, The Greed Merchants, and most recently Chasing Alpha: How Reckless Growth and Unchecked Ambition Ruined the City's Golden Decade. More on his newest book below.
He quotes Nicolas Sarkozy, a questionable choice, at the G 20 summit saying "The all-powerful market that is always right is finished," then on departure adding "a page has been turned." For Augar, that depends on whether a "free-market" successor is constructed, something "entrenched interests in America and Britain would be well-advised to encourage if they wish to remain centre stage."
Things unraveled after Bretton Woods collapsed - the post-war monetary system of convertible currencies, fixed exchange rates, free trade, the dollar as the world's reserve currency linked to gold, and those of other nations fixed to the dollar. Absent that, Chicago School economists "persuade(d) the Reagan and Thatcher administrations to adopt laissez faire policies and deregulation." We then printed money freely, spent and lived beyond our means, and created an illusion of prosperity and wealth that led to the current crisis.
Rule of Law Vetoed by President Obama
Joel S. Hirschhorn
There are no headlines or pontificating pundits, but the real news that has become crystal clear to any but the most delusional and distracted Americans is that President Obama has no commitment to applying the rule of law where it counts. Certainly, not applying it to the large number of rich and powerful people that have violated our Constitution and plunged the nation into economic disaster.
Again and again we hear the flimsy argument from Obama and his top advisors that he wants to look forward and not backward. This is tortured logic when it comes to delivering justice in a nation supposedly cherishing the rule of law.
"Hizzhonor:" Chicago Politics Under Richard M. Daley
Stephen Lendman
First the father, Richard J. (mayor from April 20, 1955 - December 20, 1976), now the son. To Chicagoans - "Hizzhonor," and for some - "Hizzhonor Da Mare." Authors Adam Cohen and Elizabeth Taylor called the elder an "American Pharaoh." For former Chicago columnist, Mike Royko, he was "Boss" in his 1971 book by that title. When he died on December 20, 1976, Royko wrote:
"If ever a man reflected a city, it was Richard J. Daley," for better or worse. He was "strong (and) hard-driving" with Texas-sized ambitions, but also "arrogant, crude, conniving, ruthless, suspicious, intolerant, raucous, hot-tempered, devious, big and powerful." He was Chicago.
Haitians Overwhelmingly Reject Electoral Sham
Stephen Lendman
On April 19, sham elections were held to fill 12 open seats in the 30-member Haitian Senate, but most Haitians refused to go along.
Earlier in February on procedural grounds, Haiti's Provisional Election Council (CEP) disqualified Fanmi Lavalas (FL) candidates from participating, the party most Haitians support.
Mass outrage and apprehension showed up in Priorities Project (HPP) pre-election polls with only 5% of eligible voters stating an intention to participate.
They are all accountable for torture
Mary Shaw
It was an interesting and disappointing week for those of us who want to see some accountability for the Bush administration's torture policies.
It had started on a positive note, with the news that prosecutors in Spain would likely issue indictments against Alberto Gonzales and five other high-ranking Bush administration officials for sanctioning the torture of terror suspects. The hope for justice that came with that news quickly turned to disappointment, however, when Spain's attorney general ultimately rejected the move. AG Candido Conde-Pumpido said the case had "no merit" since no members of Bush's torture team were present when the alleged abuses took place.
Obama’s Iraq: NO ‘CHANGE’
Sarah Meyer
Asked in Turkey how he was different from President Bush, Mr. Obama said: "Here in the US is like piloting a big tanker. They're not like people ... You can't just whip them around and go in a new direction. Instead, you've gotta slowly move it and then eventually you end up in a very different place. "
Very difficult for President Obama, when – for political survival - he has chosen to listen to those with the mindset from the military - industrial complex/PNAC/AIPAC. The key word that now gives a clue to the reality of Obama’s formerly hopeful policies is “BUT,” following his “change” rhetoric.
Toward Climate Geoengineering?
Andrew Glikson
Earth and paleoclimate science Australian National University
Preamble that global climate change has reached an impasse whereby the “powers-to-be” are entertaining climate geoengineering mitigation, instead of the urgent deep reduction of carbon emissions required by science, represents the ultimate moral bankruptcy of institutions and a failure of democracy.
With global atmospheric CO2 levels rising at about 2 ppm/year toward 388 ppm, or near-440 ppm CO2-e (including methane effects) (http://www.esrl.noaa.gov/gmd/ccgg/trends/), John Holdren, in his first interview since being appointed as Obama’s new science adviser, revealed in an interview with AP (8 April, 09) “global warming is so dire, the Obama administration is discussing radical technologies to cool Earth’s air” which “as an experimental measure would only be used as a last resort … It's got to be looked at … We don't have the luxury of taking any approach off the table … One such extreme option includes shooting pollution particles into the upper atmosphere to reflect the sun's ray (http://www.google.com/hostednews/ap/article/ALeqM5hm1kMpA2nQALOfQL8Y8PxxTHNVtgD97EG5200)
Has Washington lost Lebanon?
Franklin Lamb Beirut
Part II: Persia Rising
“Who can Lebanon trust more to respect and help us, the US or Iran? Were not the American words during the Bush years and to this day that it supports our stability, sovereignty independence and democracy? But the Bush deeds demonstrated that this is true only if the American team is in control and then only to supplement its support for Israel. By its deeds the US is speaking to Lebanon with targeted words: to Hell with the Arabs, Muslims and Christians who Israel regularly kills in Lebanon, Palestine and in any country or continent it chooses! I don’t trust the Syrians or the Americans but Iran has always kept its word.” - Service driver for the Mayflower Hotel, West Beirut 04/14/09
Barack Obama: Crime Boss
Stephen Lendman
Since taking office, Obama, wittingly or otherwise, has headed the largest criminal enterprise in history - the mass looting of national wealth to enrich his Wall Street benefactors. He assembled a rogue economic team of Clinton/Robert Rubin retreads - to fix the current crisis they engineered.
In a March 13 article, (author and former Republican strategist) Kevin Phillips called them "recycled senior (Clinton administration) Democrats (responsible for the) tech mania, deregulation binge and (1997 - 2000) stock market bubble and crash. (Obama) extend(ed) the (disastrous) mismanagement and pro-Wall Street bias of the 2008 Bush regime bailout."
He called Geithner and Bernanke "hapless," the result of their ruinous misjudgments (and, along with Alan Greenspan, complicit) with finance-sector malfeasance."
The Arab world and Israel's nuclear arsenal
By Khalid Amayreh in Occupied East Jerusalem
Israel is widely believed to posses 250-300 nuclear weapons,
with their delivery systems which include the Yariho ( Jericho )
missiles and the long-range F-15 and F-16 fighter warplanes
The vociferous Israeli campaign against the Iranian nuclear program is undoubtedly a classical example of Israel’s pornographic hypocrisy in this regard.
After all, it was Israel that introduced nuclear weapons into the Middle East more than four decades ago, with the knowledge and acquiescence of western powers.
The CIA first concluded that Israel had begun to produce nuclear weapons in 1968, but few details emerged until 1986 when Mordechai Vanunu, a former technician at the Dimona nuclear facility, gave the Sunday Times detailed descriptions that led defence analysts to rank the Jewish state as the sixth largest nuclear power.
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