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The Great Bailout Swindle
The brilliant economist Michael Hudson lays out the stupidity of Paulson’s bailout plan and the lead role in Congress of Democrats in the bankers’ plot. What happened? What should be done? Read Hudson. PLUS the complete text of Alexander Cockburn and Fred Gardner’s probe of the McCain health dossier. Find the answers in CounterPunch newsletter. 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 presents.
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Today's Stories October 10 / 12, 2008 Alexander Cockburn Patrick Cockburn October 9, 2008 Robert Bryce David Vest Winslow T. Wheeler Andy Worthington Anthony DiMaggio Helga Serrano / Dave Lindorff Mats Svensson Rannie Amiri Website of the Day October 8, 2008 Alexander Cockburn Linn Washington, Jr. Mike Whitney Deepak Tripathi George C. Wilson Andy Worthington Charles R. Larson Patrick Irelan Matthew Koehler Stanley Heller Daniel Gross Kimberly Hartke Website of the Day October 7, 2008 Patrick Cockburn Gary Leupp Uri Avnery P. Sainath Peter Morici Conn Hallinan Martha Rosenberg Binoy Kampmark October 6, 2008 Paul Craig Roberts Mike Whitney Tariq Ali Emily Horowitz Michael Hudson Ron Jacobs October 3 - 5, 2008 Alexander Cockburn Paul Craig Roberts Saul Landau Jonathan Cook Andy Worthington Dave Marsh Sasan Fayazmanesh John Ross Brian Cloughley Wajahat Ali Robert Schwartz Alan Nasser David Ker Thomson Peter Morici William Blum William S. Lind Michael Donnelly Thom Rutledge Manuel Garcia, Jr. Dave Lindorff Cindy Ellen Hill Paul Krassner Daniel White Poets' Basement Website of the Weekend October 2, 2008 Paul Craig Roberts Joe Bageant Ralph Nader Mike Whitney Madis Senner Winslow T. Wheeler William Blum P. Sainath Website of the Day October 1 , 2008 Glen Ford Steven Conn Alan Maass / Lee Sustar Kenneth Couesbouc Stan Goff Adolfo Gilly Rannie Amiri Ismael Hossein-Zadeh Adam W. Parsons Dave Lindorff Douglas Valentine Adrien Rain Burke Website of the Day
September 30, 2008 Pam Martens Chris Floyd Stephen Martin Deepak Tripathi Mark Engler Jonathan Cook Dave Lindorff Manuel Garcia, Jr. Ahmad Faruqui John Chuckman David Macaray Fatemeh Keshavarz Website of the Day September 29, 2008 Mike Whitney Jeff Gibbs Paul Craig Roberts Peter Morici Tim Wise John Walsh Uri Avnery Alan Farago Andy Worthington David Michael Green Carl Finamore Iris Keltz Bill Hatch Website of the Day September 27 / 28, 2008 Alexander Cockburn Linn Washington, Jr. Christopher Ketcham Mike Whitney Kevin Alexander Gray Race in the Race: Is Obama Shining Us On? Anthony DiMaggio Mary Lynn Cramer Marc Levy / Stan Cox Saul Landau Ali Khan David Rosen Todd Alan Price Matts Svensson Ron Jacobs Robert Fantina Richard Rhames David Krieger Seth Sandronsky Charles R. Larson Kim Nicolini Poets' Basement Website of the Day September 26, 2008 Moshe Adler Bill Quigley Jonathan Cook Manuel Garcia, Jr. Madis Senner Brian Cloughley Niranjan Ramakrishnan Joanne Mariner Dan La Botz David Macaray Website of the Day September 25, 2008 Michael Hudson Sharon Smith Ralph Nader Christopher Ketcham Eric Toussaint Robert Weissman David Estabrook Nikolas Kozloff Steve Early Judith Scherr Laray Polk Website of the Day September 24, 2008 Paul Craig Roberts Nikolas Kozloff Robert Weissman Andy Worthington Steve Conn Karyn Strickler Diane Farsetta Dennis Loo John Halle Khalil Nakhleh Website of the Day September 23, 2008 Rev. Jesse Jackson, Sr. Michael Hudson Tariq Ali Patrick Dyer Franklin Lamb Joshua Frank Alan Farago Dave Lindorff Tanya M. Kerssen / Harvey Wasserman Website of the Day September 22, 2008 Michael Hudson Mike Whitney Christopher Ketcham Ron Jacobs Anne-Marie McManus Robert Weitzel Wajahat Ali John Ross Steve Breyman Patrick Bond Uri Avnery Carl J. Mayer Website of the Day September 20 / 21, 2008 Alexander Cockburn Michael Hudson Pam Martens Lila Rajiva Mike Whitney Richard Rhames Bill Moyers / Bill and Kathleen Christison Susan Block Robert Fantina Heidi Walters David Yearsley Raymond J. Lawrence David Rosen David Michael Green Anthony Papa Niranjan Ramakrishnan Howard Lisnoff John Goekler Missy Beattie Dave Zirin Charles R. Larson Tim Matson Susie Day Poets' Basement Website of the Weekend September 19, 2008 Steven T. Banko Mike Whitney Michael Hudson William Kaufman Brenda Norrell Keeanga-Yamatta Taylor Clifton Ross Dave Lindorff Cynthia McKinney Susan Hurlich Michael Donnelly Website of the Day September 18, 2008 Benjamin Dangl Harvey Wasserman Susan Abulhawa Robert Weissman Anne-Marie McManus Corey D. B. Walker William S. Lind Ron Jacobs Dave Lindorff Binoy Kampmark Website of the Day September 17, 2008 Stephen Conn Forrest Hylton Patrick Cockburn Gregory Elich Ralph Nader Franklin Lamb Pam Martens Dave Lindorff Peter Morici Stanley Heller Douglas Valentine Website of the Day September 16, 2008 Paul Craig Roberts Tiphaine Dickson Stan Goff Uri Avnery Michael Winship Jeff Halper Patrick Irelan Oscar Gonzalez Binoy Kampmark Fatemeh Keshavarz Sen. Russ Feingold Website of the Day September 15, 2008 Mike Whitney Peter Morici Patrick Cockburn Charles R. Larson Jonathan Cook Nikolas Kozloff Roger Burbach Helen Redmond David Michael Green David Macaray Ralph Nader Website of the Day
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Weekend Edition The Business of ElectionsMaking a KillingBy ANTHONY DiMAGGIO I've written before warning about the ways in which American elections have been transformed into a business. Sadly, the second debate between Barack Obama and John McCain appears to offer more evidence of the same. While the debate was unlikely to dazzle an electorate that's been terrified about the housing collapse and the implosion of the economy, the business of negative campaigning has persevered, remaining insulated and unaffected by society's larger problems. Media corporations continue to make a killing off of negative campaigning, in the process poisoning our elections and turning off voters to the real policy issues at hand. Media critic Robert McChesney warns against the dangers of the media's profiteering from elections in his superb work: The Problem of the Media: U.S. Communication Politics in the Twenty-First Century. In the book, he points out that media corporations' percent of total revenues earned from campaign advertising increased from just three percent in 1992 to ten percent ten years later. This dramatic increase has been accompanied by elections that are radically higher in cost; for example, the amount of money it took to successfully win office in the House of Representatives and the Senate (on average) increased by 85 percent in both bodies from 1998 to 2006 alone. Sadly, the money required to buy these offices looks like it will continue to increase indefinitely into the future. Coverage of the second Presidential debate has been heavily dominated by the business of election politics. The following day's (October 8th) coverage was noteworthy in the ways it subtly and not so subtly reinforced the interests of the election profiteers. Online news sources like CNN.com and the Washingtonpost.com completely abandoned any pretense of objectivity by running profitable negative campaign ads for John McCain and Sarah Palin alongside stories on the debates and the election. The Post and CNN ads, attacking Obama for denying middle class workers tax cuts and promoting McCain for being a "maverick" and the friend of the middle class, were shamelessly run alongside other marketing campaigns promoting Chevron, AT&T World Connect, Window's Mobile Phone, as well as promotions of Lifestyle.com and auto insurance quotes. That the candidates are considered little more than products to be sold alongside these other goods and services speaks strongly to the deterioration of American's "choices" in this election. Perhaps CBS.com expressed the perversion of democracy best, as it subsumed all of its reporting of Iraq under the banner "Presented by ExxonMobil," located at the top of the debate coverage page. Such blatant corporate control over the election process would be comical if it weren't so tragic. Of course, the debate coverage was full of political spin as well. ABC News featured a "Nightline Report Card" with media commentator George Stephanopoulos which asked "Who Dominated the Debate?" Stephanopoulos answered that, clearly Obama had outperformed McCain in terms of strategy, accuracy, and style. Why voters should take Stephanopoulo's views even remotely seriously (considering he was a senior political advisor to Bill Clinton and the administratin's communication director) when they decide who won the debate was left unexplained by ABC. Did ABC executives honestly think there was any chance that Stephanopoulos, considering his background, would have seen John McCain as the victor? This inconvenient and troubling question was never addressed. Fox News resorted to its usually partisan hackery, only featuring stories glorifying the Republicans at the expense of Obama. The major stories featured on the Foxnews.com website included such hardhitting investigative pieces as: "Cindy McCain: Obama Campaign Dirtiest in History," "Palin Keeps Focus on Ayers Ahead of Debate," and "Obama Admits Bumming Cigarettes on the Campaign Trail." The nation's elite print media hardly fared much better in terms of substance. Frank Bruni of the New York Times complained that "Tuesday night’s presidential debate was remarkable for the dourness of its mood and for the subdued demeanors of the candidates even as they tore into each other." Americans have become painfully familiar with this lame, superficial approach to assessing candidates, divorced from their actual policy stances. Perhaps the one ray of light in the media response was seen in the Washington Post, where Tom Shales attacked the media for its own failures in coverage. Shales rightfully took aim specifically at debate moderator Tom Brokaw, who was seen as "the biggest wet blanket on the debate stage… [he] also played a kind of military role: Commander of the Clock. Time and time again, the NBC newsman inflicted frivolous rules on the candidates that only served to frustrate true debate and the kind of give-and-take that a 'town hall' format supposedly encourages…Exactly what the rules were [in the debate] remained unclear, even though Brokaw explained them at the start of the debate. He called for 'discussion' periods that seemed only a minute long; what kind of 'discussion is that? If a discussion really did threaten to break out, Brokaw got grumpy and called it off. The least important thing on an occasion such as this is a bunch of arbitrary rules concocted by the debate organizers." I couldn't have said it any better myself. Anthony DiMaggio teaches Politics of the Developing World and American Government at Illinois State University. His book, Mass Media, Mass Propaganda: Examining American News in the "War on Terror" will be released in paperback this December. He may be reached at: adimagg@ilstu.edu
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