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Why Wall St is Betting Millions on Obama

In part 2 of her investigation, market veteran Pam Martens traces the money big Wall Street players are sluicing into Obama's war chest and exactly why they are investing big-time in the "campaign for change". Plus more on the "No federal lobbyists on my team" fraud. You've heard about the plutonium-powered spy transmitters the CIA tasked climbers to haul up 25,000 feet to the high peaks of the Himalayas? What happened to the one they lost and to the men who carried them? Peter Lee gives CounterPunchers the full amazing story. Get your copy 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 holiday presents.

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Today's Stories

March 17, 2008

Pam Martens
The Fed's Wall Street Dilemma

Sasan Fayazmanesh
The US, Iran and the Policy of Dual Containment

March 15 / 16, 2008

Patrick Cockburn
How to Destroy a Country in Five Years

Mike Whitney
Bearly Alive: Investment Giant Rushed to ICU by Panicky Fed Chief

Ralph Nader
Of Laws and Men

Robert Pollin
It's Still the Economy, Stupid

Diane Christian
The Poetics of Perversity: From Boccaccio to Spitzer

Wajahat Ali
Faking the Hood: a Conversation with Ishmael Reed

Tom Wright /
Therese Saliba

Rachel Corrie's Case for Justice

Alan Farago
Back to Florida: Where Bushtime Began

Greg Moses
Raiding the Family Room in Texas

Michael Hudson
A Grand Global Bargain?

Martha Rosenberg
Why Hillary's Favorite Chicken Company is Eying China

John Goekler
Fourth Generation Warfare in a Fifth Generation Conflict

Uzma Aslam Khan
A Letter to Barack Obama: Where's the Change, Barack?

Oren Ben-Dor
The Silencing of Gilad Atzmon

David Underhill
Mammon, Morals and the Mobile Tanker Deal

Fred Gardner
The Education of Eliot Spitzer

David Michael Green
Why Spitzer Should Have Resigned (and Why He Shouldn't Have)

Rev. William E. Alberts
Jesus, Entombed in Heaven

Gail Dines
It's All About the John: Prostitution and Male Power

David Yearsley
Conducting, Anarchy and the Problem of When to Begin

Chris Clarke
Walking with Zeke: the Luckiest of Dogs

Poets' Basement
Anderson, Lodge & Subiet

Website of the Day
Deviant Art

 

March 14, 2008

Paul Craig Roberts
Watching the Dollar Die

Don Santina
Vichy Democrats: Pelosi and the Politics of Collaboration

Patrick Cockburn
Iraqi Mother Vows Revenge on US: How She Lost Her Husband and Her Sons

Tim Rinne
StratCom Rules! The Next War Will Start in Nebraska

Robert Fantina
In Torture We Trust

Saul Landau
Letter to the Presidents-in-Waitings

David Macaray
Common Myths About Labor Unions

Franklin Lamb
Is the Bush Administration Switching Horses in Lebanon

Michael Neumann
The One State Illusion: Reply to My Critics

March 13, 2008

Paul Craig Roberts
Republicans and "Free Market" Zealots Bring Disaster to America

Mike Whitney
Meltdown Looms Larger As Credit Markets Freeze

Assaf Kfoury
"One-State or Two State?"- Sterile Debate on False Alternatives

Andy Worthington
Afghan Hero Who Died in Guantánamo: The Background to the Story

Adam Federman
From Autopia to Autogeddon: Cars Reach the End of the Road

March 12, 2008

Dave Lindorff
Bringing Down Spitzer: It's the Big Brother Who Should Bother US

R.F. Blader
The Spitzer Backlash

Yonatan Mendel
How to be an Israeli Journalist. Never Write "Murder" or "Palestine"

Jonathan Cook
One State or Two? Neither. The Issue is Zionism

Bill and Kathy Christison
Fallon and Gates -- At Least One Cheer

James J. Brittain
Was the U.S. Involved in Killing the FARC-EP Leaders

Ron Jacobs
"All the Money You Make Will Never Buy Back Your Soul"

March 11, 2008

Paul Craig Roberts
How to End the Subprime Crisis

Ed O'Loughlin
How Israeli Troops Invade Homes in Gaza, Brutalize, Smash and Steal

Ramzy Baroud
'Unwavering Commitment' to Inequality

Kathy Christison
One State or Two? The Debate Over Israel and Palestine

China Hand
PRC Plays it Cool, as U.S. Tries to Amp Up Pressure on Iran

John Joslin
Thank You, Nafta! Welcome to Weirton, Home of the Discount Cigarette

Mike Averko
Serb Politics, Kosovo and the Moscow-Washington Divide

Ben Rosenfeld
Gavin Newsom's Kneejerk Plan

Thierry Paquot
High Rise, Low Spirits:The Curse of the Tower Block

March 10, 2008

Uri Avnery
"Kill A Hundred Turks and Rest": The Five-Day War in Gaza

Col. Dan Smith
Scoring the "Surge" and What Lies Beyond

R.F. Blader
Why "Lock Them Up and Throw Away the Key" is Losing its Sheen

Michael Neumann
The One-State Illusion: More is Less

Bob Fitrakis and Harvey Wasserman
Did the Republicans Give Hillary Her Victory in Ohio?

James J. Brittain
Anti-Uribe Protests in Colombia and the World

Missy Comley Beattie
The Passion of John McCain

March 8-9, 2008 Weekend Edition

JoAnn Wypijewski
The Only Way to Fight the Clintons

Mike Whitney
Sorting Through the Rubble in Post Bubble America

Peter Morici
Fed and Treasury Fiddle as Economy Plummets

Ralph Nader
The Silent Violence of Gaza's Suffering that Candidates Ignore

Jonathan Cook
The Meaning of Gaza's Shoah

Steve Niva
Behind the Israeli Escalation in Gaza

Bill and Kathy Christison
Crisis over Teheran's Alleged Nuclear Plans Nearing Climax

Hervé Do Alto and Franck Poupeau
Bolivia: Morales is Checked

Eric Walberg
To Leave and Stay at the Same Time: Putin to Medvedev to…?

Scott Johnson
City of A Thousand Foreclosures

Mark Scaramella
James Brown's Gate

Bill Clinton
President Clinton's Remarks on Naming William M. Daley as NAFTA Task Force Chairman

Poet's Basement
St. Thomasino, Engel, Davies and Willson

Website of the Weekend
Hillary Blackens Barack

March 7, 2008

Patrick Cockburn
Why Iraq Could Blow-Up in John McCain's Face

Robin Blackburn
Question for Barrack Obama: Why Afghanistan is the 'Right War'?

Saul Landau
The Stupid Economy

Binoy Kampmark
When Competition is Good: McCain and the Muddled Democrats

Chris Floyd
Crushing the Ants: Admiral Fallon and His Empire

Andy Worthington
Spanish Drop "Inhuman" Extradition Request for Guantánamo Britons

Will Potter
Before the Smoke Even Clears in Seattle: Bringing Out the T Word

March 6, 2008

 

March 6, 2008

Vincent Navarro
The Next Failure of Health Reform

Forrest Hylton
High Stakes in the Andes: Colombia's Cornered President

Peter Morici
Why the Dollar is So Cheap

George Ciccariello-Maher
Counter-Attack of the Bureaucrats

John Ross
Taxi! Taxi! The Dark Side of the Oscars

Jacob Hornberger
No Standing to Lecture on Justice

Paul Watson
Illegal Japanese Whaling by the Numbers

Dan Bacher
Off the Deep End

Website of the Day
A Katrina Reader Online

 

March 5, 2008

Cockburn / St. Clair
A Great Day for John McCain (and Maybe Nader)

Joanne Mariner
After Guantanamo

Fidel Castro
The Raid on Ecuador: Underestimating Rafael Correa

Christopher Brauchli
The Turkish Invasions

Steven Sherman
Obama and the Prospects for a Renewal of the Left

Dave Lindorff
Busting Bush & Co. in New England

James Murren
Bombing Somalia

Adam Engel
Necropolis Now

Website of Day
Remember Song

 

March 4, 2008

Wajahat Ali
Mumbo Jumbo: Naming Names with Ishmael Reed

William Blum
How Could Hillary Have Known?

Bill Quigley
The Cleansing of New Orleans

Ralph Nader
The Prince Harry Solution

Patrick Irelan
Oil and Health in Venezuela

James J. Brittain /
R. James Sacouman

Uribe's Colombia is Destabilizing a New Latin America

Norman Solomon
The War Election

Jacob Hornberger
Hillary in Waco: the Missing Apology

Andy Worthington
Guantánamo and the European Parliament

Mike Averko
Kosovo and the Press

Website of the Day
Tex-Mex Primary

 

March 3, 2008

Jennifer Loewenstein
Gazan Holocaust

Alan Farago
American Politics and the Faltering Economy

Richard Gott
Colombian Deaths in Ecuador

Wajahat Ali
Who Speaks for a Billion Muslims? Analyzing the World Gallup Poll with John Esposito

Paul Craig Roberts
The Mukasey Conspiracy: a Bi-Partisan Attack on the Constitution

Robert Weissman
When Multinationals Say Adieu

Uri Avnery
Good Morning, Hamas

Martha Rosenberg
When Your Meat is a Downer

Eva Liddell
Leave the Next Dance for Bill

Michael Donnelly
Will Ferrell Does Flint

Website of the Day
Muddy Waters: Train Fare Home Blues

 

March 1 / 2, 2008

Alexander Cockburn
The Race Card

Paul Craig Roberts
The Political Trial of Don Siegelman

Kathleen and Bill Christison
Nader the Best Antidote to American Imperialism

Nelson P. Valdés
Cuba After Fidel

Christopher Brauchli
Meet Mr. Nursultan Nazarbayev: Friend of Bill, George and Dick

Ron Jacobs
Inside the Secret City: Bomb Making at Oak Ridge

John Ross
The New Conquistadores: Spain's Reconquest of Mexico

Robert Fantina
Posturing Over Patriotism: Obama and Those Lapel Pins

Robert Weissman
Hidden in Plain Sight: Human Rights Hypocrisy

Mohammed Omer
Fear in Gaza

Remi Kanazi
Barack Obama and the Politics of Xenophobia

Bob Jackson
Why is Yellowstone Destroying Its Bison Herd?

Richard Rhames
Casual Threats: Loaded with Mercury

Franklin Lamb
Lebanon Awaits the Arrival of the USS Cole

Rannie Amiri
Showboat Diplomacy: US Warships Steam Toward Lebanon

David Michael Green
The Three Faces of Hillary: the Politics of Flim-Flam

Conn Hallinan
Notes from the Southern Cone

Faheem Hussain
Prince Harry of Afghanistan and the Meaning of Normalcy

Poets' Basement
Gibbons, Orloski, Gardner and Ford

Website of the Weekend
The Palestine Chronicle Needs (and Deserves) Your Help!

 

 

February 29, 2008

Matt Gonzalez
The Obama Craze

Jonathan Cook
Academic Freedom? Not for Arabs in Israel

Joshua Frank
Obama and Israel

Anthony DiMaggio
The Unilateral Presidency: Signing Statements and the Rollback of American Law

Linn Washington, Jr.
Cop Abuse in America

Binoy Kampmark
Hubris and Nemesis

Robert Bryce
Energy Efficiency May be a Good Thing, But It Won't Cut Energy Use

Sonja Karkar
Australia's Government Continues Its Love Affair with Israel

Dave Lindorff
A Manchurian Candidate in the White House? Obama or Bush?

Website of the Day
Olduvai George

 

February 28, 2008

Patrick Cockburn
"Iraq" Falls Apart

Fred Gardner
The Birth of NAFTA

Michael Levitin
The Crisis in Kosovo is Just Beginning

William S. Lind
The Fake State of Kosovo

David Macaray
A Ray of Hope for Organized Labor

Stephen Fleischman
Nader's Latest Run: Monkey Wrench or Cattle Prod?

George Wuerthner
The Myths of Forest Health: Why Ecological Logging is an Oxymoron

Laura Carlsen
The North American Union Farce

Carl Finamore
Why the Delta-Northwest Deal Hasn't Taken Off

Michael Dickinson
The Day I Bombed the House of Commons

Website of the Day
Plane Stupid

 

February 27, 2008

David Rosen
Playing the Race Card: Obama, Love Across the Color Line and Political Dirty Tricks

Vijay Prashad
Bomber John: McCain and the 100 Year War

Harvey Wasserman
Incident at Turkey Point: Did Florida Go to the Radioactive Brink?

Andy Worthington
Guantánamo's Shambolic Trials: Pentagon Boss Resigns, Ex-Prosecutor Joins Defense

Wajahat Ali
Pakistan for Sale: an Interview with Ayesha Siddiqa on Pakistan's Military Economy

Peter Morici
The Auction-Rate Securities Fiasco: a Drama of Greed and Betrayal

Stephen Philion
Conspiracy Theory, Fears of Betrayal and Today's Anti-War Movement

Michael Donnelly
Obama by Unanimous Decision

Erica Rosenberg /
Janine Blaeloch
After the Land Deals: Will There be Any Wilderness Left to Protect?

Website of the Day
Dress Blues

 

February 26, 2008

Debbie Nathan
Confessions of a Gitmo Guard

Alan Dershowitz
v. Frank Menetrez

On Finkelstein

Harvey Wasserman
How Ohio Got Nuked

Michael Colby
Ralph Nader vs. the Fundamentalist Liberals

Gary Leupp
Condi vs. Putin on Bullying Belgrade

David Orchard
The New Conquistadors: Canada in Afghanistan

Martha Rosenberg
The Big HRT

Fran Shor
The Electoral Circus and Nader's Sideshow

Serge Halimi
The Dom Perignon Socialist Manifesto: Bernard Henri-Levy's Plan for the French Left

Global Balkans
Neo-Liberalism and Protectorate States in the Post-Yugoslav Balkans: an Interview with Tariq Ali

Website of the Day
Texistentialism

 

February 25, 2008

Roger Morris
A Death in Damascus

Anthony DiMaggio
Military Bases, the Media and the Democrats

Ralph Nader
Why I'm Running

Patrick Cockburn
Iraq Broils

Paul Craig Roberts
Kosovo and the Empire Crazies

Peter Morici
Bernanke's Failing Policies: a Long Recession Looms

Dave Lindorff
General Welch's Whitewash: What We Still Don't Know About That Minot Nuke Incident

Saul Landau /
Farrah Hassen

Fanatics, Mountebanks and Drillers: a Bloody Oil Film

Heather Gray
James Orange, Civil Rights Legend

Robert Weitzel
Accomodating Torture

John Halle
Kucinich Goes Down

Website of the Day
Do the Trunk Monkey!


February 23 / 4, 2008

Alexander Cockburn
The Mushrooming Clouds That Hang Over McCain

Paul Craig Roberts
Obama and Global Trade

Wajahat Ali
Omissions of the Commission: an Interview with Phillip Shenon on the 9/11 Commission

Ralph Nader
Neutering the FDA

Jürgen Vsych
"What Was Ralph Nader Thinking?"

Fidel Castro
Watching the US Presidential Campaign from Havana

Andy Worthington
Britain's Guantánamo

David Macaray
Unions Under Assault

Jeremy Scahill
The Real Story Behind Kosovo's Independence

David Krieger
Stanley Sheinbaum
Caging the Cold War Monster

Ron Jacobs
Building for the Future

Michael Garrity
The Last, Best Hope for the Northern Rockies

Brian McKenna
Higher Ed's "Civic Engagements" Get Dumbed Down

Missy Beattie
Over the Hill with John McCain

Fred Gardner
American College of Physicians Takes Pro-Cannabis Stand (Mostly)

Boris Kagarlitsky
The Growth of the Russian Labor Movement

Mike Ferner
Kick That Barrel

Dan Bacher
On the Trail with the Border Angels

Christopher Ketcham
Hillary Goes Where Obama Fears to Tread

Poets' Basement
Davies and Buknatski

Website of the Weekend
Obama Mariachi

 

February 22, 2008

Mike Whitney
The Bonfire of Capital

Jason Hribal
Elephants and the Circus: The Story of Janet

Liaquat Ali Khan
Arresting Musharraf

Joshua Frank
That Obama Glow: the Nuclear Industry's Golden Child

Dave Lindorff
Vicki's John: Ask Not What She Did for Him, Ask What He Did for Her!

Liliana Segura
When Torture is Old News: McCain's Blonde Diversion

Robert Fantina
Castro, Bush and Cuba: a Fiasco Waiting to Happen?

Yifat Susskind
The ABCs of Death: Bush vs. Africa's Women

Norm Kent
Pushing 60 with Pot

Website of the Day
Bush Gets Down in Liberia

February 21, 2008

Saul Landau
Fidel Steps Aside

Elizabeth Schulte
Left Behind, With No End in Sight: America's Long-Term Unemployed

Helen Redmond
Health Care as a Human Right

Benjamin Dangl
Undermining Bolivia

Michael Levitin
Kosovo's Dilemma

Liam Leonard
Fear and Loathing on the Emerald Isle

Patrick Irelan
Land and Food in Venezuela

Linn Cohen-Cole
Poor Ohio: a Second Letter to Hillary on Her Ties to Monsanto

Michael Simmons
Daydream Believer: John Stewart, the Miles Davis of Folk Music

CounterPunch News Service
A Message from the Women of Okinawa to US GIs

Website of the Day
Cop Abuse in Shreveport

 

 

 


 

 

 

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St. Patrick's Day Edition
March 17, 2008

Democracy Day in Pakistan

No Pardon for Musharraf

By LIAQUAT ALI KHAN

Pakistan's newly-elected Parliament meets on Monday, March 17, to form a new government. Monday is "democracy day" ending the eight years of military rule. Former Army Chief Pervez Musharraf, however, refuses to step down and claims to be the nation's lawful President. Close to a two-thirds majority of the Parliament and an overwhelming majority of lawyers of Pakistan see Musharraf as a usurper. Facing a hostile Parliament and an uncompromising Bar, Musharraf would offer to make a deal. He would relinquish power if he could safely leave the country (and perhaps fly away to the United States).

This essay argues that Pakistan's Parliament must not pardon Musharraf, openly or secretly. The people of Pakistan want their day in court.


Musharraf's Crimes

The lawyers of Pakistan see Musharraf as a criminal who unlawfully occupies the nation's highest office. Musharraf has committed numerous crimes. Two, however, stand out. On November 3, 2007, Musharraf suspended the Constitution exercising the non-existent powers of the Army Chief. Neither the Constitution, national laws, nor the Military Code confers power on the Army Chief to proclaim emergency and suspend the Constitution. Musharraf has presumptively committed the constitutional crime of high treason and his continuing occupation of the office of President is unlawful.

The Constitution mandates that the Parliament "by law provide for the punishment of persons found guilty of high treason." In exercising this power, however, the Parliament must respect international standards and the national criminal justice system that confer numerous rights on criminal defendants. Article 10 of the Constitution, which Musharraf suspended during the November 2007 Proclamation of Emergency, requires that the person in custody be "informed of the grounds for such arrest. . . and not be denied the right to consult and be defended by a legal practitioner of his choice."

In addition to perpetrating the crime of high treason, Musharraf committed the crime of massacre. In July, 2007, after prolonging a manufactured showdown with seminarians in the Red Mosque located in Islamabad, Musharraf ordered the killings of innocent men, women, and children trapped within the Mosque. In asserting the rule of law, the Supreme Court ordered an investigation of the massacre. Compounding his crime, Musharraf charged the Supreme Court with supporting terrorism. And exercising the non-existent powers of the Army Chief, Musharraf fired and arrested numerous top judges of the high courts, including the Chief Justice who still has not been freed. Musharraf's lawyers will have to explain to the trial court whether the Army Chief, in committing the crime of massacre, has the authority to openly subvert the integrity and dignity of the judiciary.


Resisting Foreign Pressure

In prosecuting Musharraf for high treason and other crimes, the new Pakistani government might come under some foreign pressure to pardon Musharraf. Except for the United States, however, many nations would see Musharraf's criminal prosecution as Pakistan's internal matter. European nations will not support a despised dictator. China rarely caters to losers and is unlikely to raise the issue with the new government. Saudi Arabia will not rescue a self-appointed reformer of Islam. India will only harm Musharraf if it supports him.

That leaves the United States in the field alone. The Bush administration may pressure Pakistan's new government to pardon Musharraf. Soon after the February elections, Bush encouraged Musharraf to stay as Pakistan's Head of the State. That commitment has now dramatically weakened, and rightfully so. The United States cannot risk alienating the people of Pakistan and the new government for the sake of a former dictator who has lost the military uniform, popularity, and constitutional legitimacy. For pragmatic American policymakers, Musharraf has outlived his utility; and the time is ripe to ditch a useless operator.

As a possible favor to Musharraf, the Bush administration might ask the new government for his safe exit to the United States. Many in the Bush administration, however, will vote against pressuring the new government to do so because Musharraf has been a duplicitous ally, frequently caught running with the hare and hunting with the hounds. Certainly Musharraf has killed Muslim militants in Pakistan but not in sufficient numbers to have earned a White House medal of gratitude.

Suppose the Bush administration coerces the new Pakistani government to furnish a safe passage for Musharraf. In such a case, Pakistan's democracy must resist pressure, assert its sovereignty, and persuade the Bush administration that Musharraf's prosecution for high treason will support and not hurt US interests. If Musharraf is prosecuted for constitutional subversion without American interference, the people of Pakistan will appreciate American commitment to democracy in the Muslim world. If persuasion does not work, saying no to Bush is good for America and a matter of self-respect for Pakistan.

In sum, strong democracies punish constitutional subversions but week democracies do not. And by punishing constitutional subversions, democracies are further strengthened. Pakistan needs to make a strong decision. Fortunately, the usurper is positioned as a sitting duck. He has lost all covers that shielded his raw powers. He is no longer the Army Chief, and cannot order the armed forces to stand behind him. The "King's Party" that propped his lawlessness for years cannot help for it has been thoroughly defeated in the general elections. The Constitution cannot guard Musharraf because Musharraf, as the President's oath requires, did not "preserve, protect, and defend the Constitution of the Islamic Republic of Pakistan." The Parliament must hold Musharraf accountable.

Ali Khan is professor of law at Washburn University School of Law in Topeka, Kansas, and the author of the book, A Theory of Universal Democracy (2003). He can be reached at: ali.khan@washburn.edu

 

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