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Today's
Stories
November 24, 2009
Mary Lynn Cramer
Health Care Reform and the Skinning of Seniors
November 23, 2009
Paul Craig Roberts
A Trial That Will Convict Us All
Jonathan Cook
Have Israeli Spies Infiltrated International Aiports?
Edward S. Herman / David Peterson
Vulliamy's Smears
Bouthaina Shaaban
What's New? It's Always Been Like This
Helen Redmond
Health Care's Historic Flop
Rannie Amiri
Saudi Arabia's Attack on Yemen
Dave Lindorff
Abortion and Health Care
Rev. William E. Alberts
The Self-Delusionary American Tragedy
Mike Whitney
Is American Casino the Best Picture of the Year?
Mark Weisbrot
Honduran Dictatorship is a Threat to Democracy in the Hemisphere
David Michael Green
The Placeholder Presidency of Obama
November 20-22, 2009
Alexander Cockburn
CounterPunch Diary
It's Show Trial Time!
Gareth Porter
New Light on the Qom Facility
Mike Whitney
The Great Stimulus Debate of '09: Crybabies need not apply
Fred Gardner
Mammography
Pushes Back
James J. Brittain
It's Really a War on the Poor
A War on Coca Nobody Believes
Jonathan Cook
Rabbi Followers 'Terror Cell in Parliament'
Alan Farago
Bulletin from the Dark Side: Florida's Republican Ultras
David Macaray
A Hindu Version of the UAW
Labor Strife in India
Binoy Kampmark
The Israeli Exception: Gilo and East Jerusalem
Ben Sonnenberg
Ashes and Diamonds
Retirement Norwegian Style
Ron Jacobs
Judge Roy Bean Takes Manhattan
David Yearsley
200,000 Testicles Offered Up to the Gods of Song
Brenda Norrell
A Border Runs Through Them:
The Struggles of the Tohono O'odham
Ron Ridenour
The Tamils and Equal Rights of Self Determination
November 19, 2009
Christopher Ketcham
The Dumbest Newspapers at the Center of the World
Shamus Cooke
A Fraudulent Jobs Summit
John V. Walsh
Impotent in China
Saul Landau
Dissidents Make Noise--Oops, News
Ralph Nader
Exiting Afghanistan
Nikolas Kozloff
Blackout in Brazil
Fred Gardner
Reputable MDs Buy NorCal Health Care
Charles R. Larson
Voices of the Silenced
John A. Murphy
Nader v. Dodd
Jayne Lyn Stahl
Obama's Gray World
November 18, 2009
Uri Avnery
A Religious Scoundrel
John Ross
Hot Oil!
Conn Hallinan
Strategic Towns: Why Gen. McChrystal's Plan Will Fail
Mike Whitney
Obama's China Junket
Ray McGovern
The Bogus Success of the Surge
Nelson P. Valdés
Cyber Cuba: Internet, Broadband and Foreign Policy
Ramzy Baroud
Globalization Unchecked
Ron Ridenour
Tamil Eelam: the Historic Right to Nationhood
November 17, 2009
Mike Whitney
Let's Get Fiscal
Jayne Lyn Stahl
Double Crossed:
War Vets Deported
Brian M. Downing
Do They Subscribe to GQ at the Pentagon?
Jonathan Cook
Israel's Two-Tiered Justice System
Joanne Mariner
A First Look at the Military Commisions Act
Dean Baker
Obama's Nuclear Option on the Yuan
Martha Rosenberg
Pig Hell at Wal-Mart Supplier
Danny Weil
Fear in Nicaragua
David Macaray
Retail Sales as Combat
Laura Flanders
Buried Bonanza for Over-Builders
Walter Brasch
Rush to Judgment on Terror Trials
November 16, 2009
Alan Nasser
Obama's Flawed Case Against Single Payer
Jonathan Cook
Campus Watch Copy Cats
Mark Weisbrot
Obama, China and the Dollar
Carol Miller
We Need Health Care, Not Insurance
Gary Leupp
The Andolan in Kathmandu and the Revolution to Follow
Harry Clark
Justice Goldstone at Brandeis
Ray McGovern
Shining a Light on the Roots of Terrorism
Norman Solomon
California Democrats Urge Obama to Leave Afghanistan
Ron Ridenour
Genocide in Sri Lanka
Norm Kent
Doctors Light Up
Brenda Norrell
Torture Resisters Arrested at Fort Huachuca
November 13-15, 2009
Alexander Cockburn
A Man in a Hundred
Patrick Cockburn
Meet Our Afghan Ally: Stealing Money, Selling Heroin and Raping Boys
Tariq Ali
Short Cuts in Afghanistan
Douglas Lummis
Obama, Hatoyama and Okinawa
Vijay Prashad
Can the Major Speak?
Carl Ginsburg
Cornering the Market on Ambition
Manuel García, Jr.
The Purpose is Pork
Rannie Amiri
The Disastrous Presidency of Mahmoud Abbas
Mary Lynn Cramer
Death By Denial: the Militarization of Mental Health
Fred Gardner
Pot Doc Down
Dave Lindorff
Health Care Reform: DOA
Robert Jensen
How I Stopped Hating Thanksgiving and Learned to be Afraid
David Macaray
Wal-Mart Death Stampede Revisited
Corporate Crime Reporter
Exposing Timberland: Nike Foe Jeff Ballinger Zeros in on a New Target
Ron Jacobs
No More Star Spangled Eyes
David Model
NATO's Chimerical Enemy in Afghanistan
John V. Walsh
Godless China: What Obama Will Find
Jon Mitchell
Beggars' Belief
Stuart Easterling
Blaming the Narcos in Mexico
Dan Bacher
Big Oil Takes Over Marine "Protection" in California
Franklin Lamb
Lebanese Students Advise Obama on How to Get It Right
Farzana Versey
Moderns, Models and Martyrs
Charles R. Larson
War, Peace and Paramilitaries in Colombia
Saul Landau
The Coen Bros. Brutalize Job
David Yearsley
When the Cirque Meets the Beatles
Lorenzo Wolff
At the Side of the Frontman
Poets' Basement
Blaine, Rivas and Cox
November 12, 2009
Robert Weissman
Maniacal Deregulation
Franklin Spinney
The Afghan War Question
Nadia Hijab
After Fort Hood
Afshin Rattansi
Night Vision: Why US Sanctions on Syria Will Kill American Soldiers
Paul Craig Roberts
America's Dismal Future
Ralph Nader
Failing the People on Health Care
Belén Fernández
Tourists of the Honduran Counter-Revolution
Allan J. Lichtman
A National Peacemaker's Day
Dave Lindorff
President Peacenik's War
Jayne Lyn Stahl
Headline of the Year
November 11, 2009
Andrew Cockburn
The Crafting of a Loophole
Mike Whitney
A Small "d" Depression
Rev. Jesse Jackson
Where's the Jobs Stimulus?
Jeff Nygaard
Iranian Irrationality? Maybe Not
Stewart J. Lawrence
Honduran Regime Reneges on Political Deal
James Ridgeway
The End of the Little Red Cars: Memories of East Berlin
Eamonn McCann
Blood on Their Hands
Michael Ortiz Hill
Unbecoming War and Terrorism
Shepherd Bliss
From Oklahoma City to Fort Hood
Walter Brasch
"This is Jenna Bush Reporting ... "
November 10, 2009
Ellen Cantarow
Heroism in a Vanishing Landscape
Dean Baker
How to Raise $140 Billion a Year From Wall Street Banks
Rose Ann DeMoro
The Truth About the House Health Care Bill
Ramzy Baroud
Inch by Inch, House by House:
How Israel Won the Settlement Battle...Again
Peter Lee
The Dalai Lama Sticks His Thumb in the Dragon's Eye
Dave Lindorff
Blaming the Workers
Roberto Rodriguez
Running Past PTSD (Or My Susto Profundo)
Winslow T. Wheeler
The Self-Dismembering F-35
Alan Farago
The Rising Tide
Joseph Grosso
The Legacy of Albert Parsons
November 9, 2009
Patrick Cockburn
Leave Afghanistan to the Afghans
Linn Washington
Fox Finds a New Black Boogeyman
Carl Ginsburg
To be Young and Unemployed Forever
Jeff Leys
War Funding, 2010
John A. Murphy
Can Lieberman Save Single Payer? Why Progressives Should Back a Filibuster
John Halle
Bard and the Lobby:
Final Thoughts on the Kovel Affair
Bouthaina Shaaban
Clinton Dances With Netanyahu
James Ridgeway
Heath Care: Winning a Battle, Losing the War
Dave Lindorff
The Kafka Economy
David Macaray
The Philadelphia Transit Strike
Stephen Fleischman
The Tea Party System
Website of the Day
Cap-and-Trade: The Huge Mistake
November 6-8, 2009
Alexander Cockburn
Too Fat to Fight
Mark Grueter
Inside the American University of Iraq
Paul Craig Roberts
The Evil Empire
Patrick Cockburn
Friendly Fire
Gareth Porter
Karzai's Cabinet of Warlords
Mike Whitney
The Battle of Seattle, 10 Years Later
James Bovard
How the Media Enables Government Lies
Dean Baker
Don't Touch the Banks!
Robert Lawless
Empires and the Sullying of Anthropology
Saul Landau
Afghanistan:
a War Without Logic
Jayne Lyn Stahl
Black Ops and Fort Hood
Stephanie Westbrook
My Memories of Fort Hood
M. Shahid Alam
How Eurocentric Are You?
Marc Levy
Walking With Mr. Muhammad
Franklin Lamb
Obama's Mid-East Mess
Ron Jacobs
A New Map of Hell
David Ker Thomson
Afternoon With Tulip
John V. Whitbeck
Moment of Truth
Julien Mercille
Drugs and Afghanistan: the UN's Misleading Report
Rannie Amiri
Egypt's Next Unelected President?
John Ross
Legalize It!
David Michael Green
Can You Hear Us Now?
Carl Finamore
Strike One for Hotels in San Francisco
Farzana Versey
The Farce of Fatwas and Political Expediency
Missy Comley Beattie
No to Single Payer, Yes to Prayer?
Charles R. Larson
Business as Usual in India
David Yearsley
Anna Magdalena, Music and the Art of Dying
Kim Nicolini
"Paranormal Activity:"
a DIY Horror Film
Poets' Basement
Three Poems by Devreaux Baker
November 5, 2009
Pam Martens
The Fire Sale of America
Vijay Prashad
The Great Heretic
Brian Gallagher
The Soldiers From Standard Oil: Harvard, ROTC and American Foreign Policy
Norman Solomon
The Next Phase in Health Care Apartheid
Nadia Hijab
The Battle for Palestinian Representation
Joseph Shansky
And the Winner in Honduras is ... the United States?
Andy Thayer
Questions and Answers From Maine
Tracy Rosenberg
Pacifica and the Barbarians Who Pay the Bills
Website of the Day
All Folked Up
November 4, 2009
Stan Cox
The Inflated Promise of Natural Gas
Andy Worthington From Gitmo to Palau: Who are the Uighurs?
Robert Weissman
The Medicare-for-All Moment
Susan Galleymore
Of Veterans and Volunteers
Ralph Nader
Hoh's Afghanistan Warning
Michael Leonardi
Italy's Secret Ships of Poison
Bitta Mistofi
Death to No One: Isolating and Taunting Iran Will Only Empower the Regime
Robert Bryce
From Lahore to Copenhagen
Martha Rosenberg
Is Your Doctor's Continuing Ed Funded by Drug Makers?
Dave Lindorff
Democrats Crash and Burn
Website of the Day
Single-Payer Backtrackers
November 3, 2009
Patrick Cockburn
The Delegitimization of Karzai
Mike Whitney
Why the Crisis Isn't Going Away
Franklin C. Spinney
Katrina and the Paralysis of Fear
Laura Carlsen
The Little Coup That Couldn't
Serge Halimi
Don't Blame the Internet
John Stanton
Social Decay in America
Sophia Weeks
A Guatemalan Lament
Dave Lindorff
Country Joe, Kenny Rogers and Obama
November 2, 2009
Steven Higgs
Autism Spikes, Toxins Suspected
Ishmael Reed
White in America: Behind the Scenes at CNN
David Macaray
UAW Members Vote Down Ford; and the Media Attacked the Union
Bouthaina Shaaban
Settler Colonialism: Return to the Middle Ages
David Michael Green
Coming to Get You
David Swanson
The Two Percent Robustness
Ellen Brown
Cutting Wall Street Out
Adam Federman
Trading the Watershed to Trash the Catskills
James McEnteer
Doppleganger Politics:
Star Wars, Clone Wars
Stephen Fleischman
Foot in the Door: Capitalism and Health Care
Website of the Day
Secret California Park Giveaway
October 30 - Nov. 1, 2009
Alexander Cockburn
The Long Gaze of the State
Jeffrey St. Clair /
Joshua Frank
Facing Down the Machine: Mike Roselle Draws a Line
Carl Ginsburg
Living in the Shadow of Yankee Stadium
Mike Whitney
Obama Goes Wobbly Over More Stimulus
Joe Bageant
The Iron Cheer of Empire
Gareth Porter
Security By Warlords: the CIA's Afghan Payroll
Saul Landau
The Cuban Embargo
Anthony DiMaggio
Conspiracy, Inc.: Wild Tales From the Reactionary Right
Dave Lindorff
Happy Talk Amid the Wreckage: Stocks Up, Jobs Down
Rannie Amiri
The Spooks of Beirut
Niranjan Ramakrishnan
An Afghan Travelogue
Jayne Lyn Stahl
Who Will Reform the Health Care Reform?
Rev. William E. Alberts
God's Favorite Team (and Nation and Religion)
Alvaro Huerta
The Abominable Mr. Dobbs
Martha Rosenberg
Marketing Drugs to Psychoneurotics
Binoy Kampmark
Don't Give Us Your Wretched: Refugee Policy in OZ
Norm Kent
Not Just Zig-Zag Any More: Medical Marijuana Goes Mainstream
Charles R. Larson Roth's "The Humbling:" Nothing Like a Novel From an Old Pro
Ron Jacobs
One Man's Truth, Another Man's Lies
David Yearsley
Not Loud Enough by Half
Lorenzo Wolff
The Vulnerability of Lauryn Hill
Kim Nicolini
"Big Fan:"
Football, Class and Sexuality in America
Poets' Basement
Davies, Heyen and Orloski
Website of the Weekend
Coal Country Music
October 29, 2009
Michael Neumann
Criticism of Israel: a Wonderful Hiding Place
Mike Whitney
Housing Rebound? Not So Fast
Gary Leupp
Matthew Hoh Speaks Truth to Power
Conn Hallinan
Roman Roads and Modern Emperors
Marshall Auerback
Obama's Bogus Populism: Pay Curbs and Bank Loans
Laura Flanders
Palin's Pet Doug Hoffman Has Taliban Ties
Eamonn McCann
The War Criminal Vote: Blair or Karadzic for EU President?
David Macaray
Strange Invaders:
Can Ignorance and Arrogance Win Hearts and Minds?
Mark Weisbrot
When Small Countries Lead the Way
Stephen Soldz
Psychologist Complicity in Torture Challenged
Christopher Brauchli
Will the Pope Bring the Taliban Into His Flock?
Website of the Day
The USS Liberty Affair and the Problem of Truth in History
October 28, 2009
Moshe Adler
How to Reduce Unemployment, Rebuild the Middle Class and Free Ourselves From Wall Street
Dave Lindorff
America's Drug Crisis: Brought to You by the CIA
Frank Joseph Smecker
Agaisnt Prometheus: an Interview with Derrick Jensen on Science and Technology
Alexandra Early
What a "Jobless" Recovery Means for Young Workers
M. Shahid Alam
Israeli Exceptionalism
Vijay Prashad
Sahelian Blowback:
What's Happening in Mali?
John Ross
Three Years Later, Brad Will is Still Dead
Franklin Lamb
A
Rare Victory for Lebanon's Palestinians
Gregory Travis
The Dismal Science: Elinor Ostrom's Nobel
Susan Galleymore
Peace Cycle to Palestine
Website of the Day
Newspaper Decline, a Graphic Display
October 27, 2009
Mike Whitney
Black Tuesday and How We Got Out of It
Patrick Cockburn
Bombs Will Go Off in Baghdad, Whether the US is There or Not
Stewart J. Lawrence
Honduran Coup Myths Dispelled
Alan Farago
Power Plays in Florida: Rate Increases, Nukes and Deception
Ralph Nader
Obama: Form Letters and Business as Usual
Dave Lindorff
Pentagon Dirty Bombers: DU in America
Bouthaina Shaaban
The Danger of Towing the Line Behind Israel
Brian M. Downing Elections in Afghanistan, the Second Time Around
Iain Boal
How You Can Save Pacifica
Carl Finamore
Hotel Workers and the Law of Momentum
Jayne Lyn Stahl
Here Comes That Third Party: Palin and the Constitutionalists
Website of the Day
How Bank of America Charges for Perfect Credit
October 26, 2009
Bill Quigley /
Deborah Popowski
When Gitmo and Abu Ghraib Come Home
Paul Craig Roberts
Are You Ready for the Next Crisis?
Uri Avnery
A Tsunami Called Goldstone
Mike Whitney
Will the Dollar Remain the World's Reserve Currency in Five Years?
Michael Snedeker
The Execution of Cameron Willingham
Shamus Cooke
Obama's Dirty War on Immigrants
David Michael Green
Paranoia for Breakfast
Martha Rosenberg
Gagging Michael Pollan
Patrick Bond
Gridlock on the Way to Copenhagen
Binoy Kampmark
Heading for the Tiber
Website of the Day
Goldman Sachs Abandons Kittens
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November 24, 2009
Too Big to Kill?
The Vampire Banks Rise Again
By DEAN BAKER
There are more than 15 million people unemployed and almost 2 million people set to lose their homes to foreclosure this year. But there is good news: the Wall Street banks are as profitable as ever and set to give out record bonuses this year. The taxpayer bailouts worked.
Congress is now debating a financial reform bill that is supposed to prevent this sort of disaster from ever happening again. Leaders in Congress are promising us tough measures that will put an end to “too big to fail” institutions and the other implicit and explicit subsidies that allow the Wall Street crew to get incredibly wealthy at our expense.
It’s still an open question as to whether this reform effort will just be a pointless source of greenhouse gas emissions. If the goal were to fix the financial system, then the process would not be difficult. But the halls of Congress are infested with financial industry lobbyists. As a result, the bills being put forward are written like the adjustable rate subprime mortgages that helped get us into this mess. The wording often leads to bills that do the exact opposite of the stated meaning.
For example, the wording of a section of the House Financial Services committee bill that was intended to regulate derivatives trading included an “end user” exemption. This exemption would have given Enron a green light to carry on its shady dealings in over-the-counter transactions out of sight of any regulators.
After a bill to audit the Federal Reserve Board garnered 311 co-sponsors in the House, the financial industry’s lobbyists got a member to put up an alternative amendment for an audit. The only problem was that this alternative “audit” bill would essentially have prevented an audit.
In another coup, there was an amendment put forward by Representative Paul Kanjorski that would allow the Fed to break up banks that pose a danger to the financial system. This garnered support from many who understood the bill to require the breakup of J.P. Morgan, Citigroup, and other “too big to fail” institutions.
But this interpretation wrongly assumed that the amendment actually had some meaning. The authors of this amendment contend that no breakup of these giants is required because they do not pose a threat to the financial system at this moment. This assertion is of course absurd, because at a point where the collapse of one of these institutions does pose a threat to the financial system it will not be of any benefit to break them up.
It wouldn’t have helped anything to break Lehman or AIG up into five different companies at the point where they were collapsing in September of 2008. The authors of these bills understand this fact – there are just treating the public like their subprime borrowers; suckers to be taken for a ride.
There are thousands of details that are a necessary part of any financial reform bill, but there is a simple way to know whether it was worth the effort. If the Wall Street banks are still in place, earning the same profits and paying the same bonuses, then there was no reform. There was just a pointless charade.
Much is still up in the air. To everyone’s shock, the bogus Fed audit amendment was defeated in committee. A determined effort by Alan Grayson, one of the real audit bill’s lead sponsors, along with impressive work from grassroots/netroots activists, hardened the opposition.
There is growing support to impose a modest tax on financial transactions. This tax would be a body blow to the Wall Street speculators while leaving middle class investors largely unaffected. It could also raise more than a $1 trillion over the next decade to help the country recover from the damage inflicted by the Wall Street crew.
It is possible to design financial reform that will actually implement the changes needed to have a more efficient and a more fair financial industry. There also is enormous public support for these changes. The question is whether the public will can be harnessed to overcome the financial industry termites that infest every corner of the capital.
Dean Baker is the co-director of the Center for Economic and Policy Research (CEPR). He is the author of Plunder and Blunder: The Rise and Fall of the Bubble Economy.
This column was originally published by the Guardian.
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