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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
Is McCain a Lot Sicker Than We Know?

Syed Saleem Shahzad
Why the Neo-Taliban is Winning

Patrick Cockburn
War in the Time of Cholera

Paul Craig Roberts
A Possible Solution to the Economic Crisis

Mike Whitney
Run on the System

Peter Morici
The Deficit and the Damage Done

Christopher Ketcham
The End of the Economy

Stephen Martin
Shock and Awe in Economic Warfare

Chellis Glendinning
Wireless Mind, Gullible Mind

Saul Landau
All Guns, No Butter

Ahmad Faruqui
21 Days to Baghdad

Serge Halimi
The Battle for the West

Anthony DiMaggio
Making a Killing: the Business of Elections

José M. Tirado
Meltdown in Iceland

David Macaray
Adventures in Unionism

Robert Fantina
Bankrupt and Belligerent

October 9, 2008

Robert Bryce
From Enron to the Current Meltdown

David Vest
The Great Rescue of 2008: Could Whatever Follows Bush Be Even Worse?

Winslow T. Wheeler
Meltdown at the Pentagon

Andy Worthington
The Ordeal of the Wrongly Imprisoned Uighurs

Anthony DiMaggio
Obama the Subhuman

Helga Serrano /
Hector Tamayo

Ecuador Charts the Way

Dave Lindorff
When Money Flies

Mats Svensson
At the Checkpoint on the Day of Atonement

Rannie Amiri
The Time for Mordechai Vanunu is Now

Website of the Day
The Palestine Chronicle Needs (and Deserves) Your Support

October 8, 2008

Alexander Cockburn
Imbecilic Tedium

Linn Washington, Jr.
Palin's Racist Remark

Mike Whitney
To the Bunkers!

Deepak Tripathi
The West is Broke

George C. Wilson
Butter Over Guns? McCain and Obama on Defense Issues

Andy Worthington
Seized in Pakistan

Charles R. Larson
"I'm John McCain and I Approved This Lie"

Patrick Irelan
Ecuador's Choice

Matthew Koehler
Log, Baby, Log: Bailing Out the Timber Industry

Stanley Heller
Time to Design a New Economy

Daniel Gross
Working Class Hero: Alexandra Svoboda

Kimberly Hartke
Raw Milk and Civil Liberties

Website of the Day
Olivia Wilde Does It Early

October 7, 2008

Patrick Cockburn
Obama and McCain's Goofy Afghan Bluster

Gary Leupp
Seven Years in Afghanistan:
From "War on Terror" to
"War of Terror"

Uri Avnery
Olmert's Final Divorce
From "All of Eretz Israel"

P. Sainath
The Cop-Out Election
Major Candidates, Congress, Press, All Fail in the Big Crisis

Peter Morici
The Dow Tanks as Bank Bailout Fails to Restore Confidence

Conn Hallinan
The Great Game in the Caucasus:
Bad Moves by Uncle Sam

Martha Rosenberg
Training America's Youth
Today a Pheasant, Tomorrow Osama

Binoy Kampmark
Let's Talk About Extinction:
CERN and Halo

October 6, 2008

Paul Craig Roberts
A Futile Bailout as Darkness Falls on America

Mike Whitney
Still on the Edge of the Abyss

Tariq Ali
Goodbye to Grosvenor Square

Emily Horowitz
How People Tell Cops They're Guilty Even When They Aren't

Michael Hudson
What Did Jesus Say?
A Christian Perspective on the Paulson Bank Bailout

Ron Jacobs
Winter Soldiers and Washington's Wars

 

October 3 - 5, 2008

Alexander Cockburn
Creatures of Capital

Paul Craig Roberts
Why Paulson's Plan is a Fraud

Saul Landau
The Chutzpah of Hank Paulson

Jonathan Cook
The Souring of a West Bank Romance: Israel's Army and Settlers Fall Out

Andy Worthington
The Dark Heart of the Guantánamo Trials

Dave Marsh
Bono (Himself) Challenges Me to a Debate

Sasan Fayazmanesh
Using the IAEA to Spy on Iran

John Ross
Massacre in Morelia

Brian Cloughley
The Unacceptable Face of Capitalism

Wajahat Ali
Dueling Partners: an Interview with Tariq Ali on Pakistan

Robert Schwartz
A Serious Blow to the Rights of U.S. Workers: NLRB Limits Political Strikes

Alan Nasser
FDR's Response to the Plot to Overthrow Him: a Paradigm for Today's Democrats?

David Ker Thomson
The Case for Drunk Driving

Peter Morici
Gone in 30 Days: U.S. Loses 159,000 Jobs in September

William Blum
When is a Holocaust Not a Holocaust?

William S. Lind
War on Two Fronts: Without Railroads

Michael Donnelly
The Ghost of Gen. McClellan

Thom Rutledge
On Presidential "Rule"

Manuel Garcia, Jr.
Science and the 2008 Presidential Elections: a Survey of the Candidates

Dave Lindorff
Calling the Problem Early

Cindy Ellen Hill
Waging a Sustainable Peace?

Paul Krassner
Dying to Get High: the Side Effects of Medical Marijuana

Daniel White
Vietnam's Masterspy

Poets' Basement
Corseri, Absher, Gibbons and Jenkins

Website of the Weekend
How We Lost Glen Canyon: a Legal Chronology

October 2, 2008

Paul Craig Roberts
Can a Bailout Succeed?

Joe Bageant
Speaking in the Tongues of Brokers: the Bailout in Plain English

Ralph Nader
Soulmates in Deregulation

Mike Whitney
Why the Bailout Stinks

Madis Senner
When Push Comes to Pull: How a Foreign Banker Invasion Sent the Markets Reeling

Winslow T. Wheeler
Congress as Usual:the Crisis Will Pass, But This Bunch Will Remain the Same

William Blum
A Boy's Game: the Origins of the Financial Crisis

P. Sainath
Wall Street Transforms Presidential Race

Website of the Day
McCain's Meltdown in Des Moines

October 1 , 2008

Glen Ford
The Last Hold Up

Steven Conn
Trashing Sarah Palin: the Boomerang Effect

Alan Maass / Lee Sustar
Why Not a Bailout for the Rest of Us?

Kenneth Couesbouc
The Blame Game: When Wall Street Pigs Sprout Wings

Stan Goff
How the Republicans Can Win (And Deserve It)

Adolfo Gilly
Racism, Domination and Bolivia

Rannie Amiri
Bombs in the Levant

Ismael Hossein-Zadeh
The Recurring Myth of Peak Oil

Adam W. Parsons
Food and Markets

Dave Lindorff
Bums' Rush to the Bailout: Where are the Hearings?

Douglas Valentine
The Bush Continuity Plan?

Adrien Rain Burke
The Party's Over: an Open Letter to Nancy Pelosi

Website of the Day
Sarah Palin's Beauty Pageant

 

September 30, 2008

Pam Martens
What Wall Street Hoped to Win

Chris Floyd
The Shadow of the Pitchfork: Elite Panic on Wall Street

Stephen Martin
A Biological Walk Down Wall Street

Deepak Tripathi
A Bitter Harvest in Afghanistan

Mark Engler
Bad Money

Jonathan Cook
The Attack on Zeev Sternhell: Has Israel Become a Breeding Ground for Jewish Settler Terrorism?

Dave Lindorff
The Power of No

Manuel Garcia, Jr.
Time for a General Strike?

Ahmad Faruqui
In Cold Blood: Buried Alive in Pakistan

John Chuckman
Will the Bride Wear White? As Rome Burns, Bristol Palin Prepares to Tie the Knot with Mr. "Sex on Skates"

David Macaray
Blaming the Labor Unions

Fatemeh Keshavarz
What Obama Could Have Said

Website of the Day
538: a Cognitive Map of American Politics

September 29, 2008

Mike Whitney
Black Monday

Jeff Gibbs
"Just Say No!" to Reverse Robin Hood

Paul Craig Roberts
Why America Should Listen to Ahmadinejad

Peter Morici
The Bailout and the Economy

Tim Wise
Racism as Reflex

John Walsh
Sarah Palin is a Rotten Mom

Uri Avnery
Israeli Fascism: Yes, It Can Happen Here

Alan Farago
Hell to Pay: the Financial Collapse and the Housing Market

Andy Worthington
Is Khalid Sheikh Mohammed Running the 9/11 Trials?

David Michael Green
Where's the Repudiation?

Carl Finamore
Capitalism on Steroids; Labor on Tranquilizers

Iris Keltz
Postcards from the DNC

Bill Hatch
Take This Shrimp Slayer!

Website of the Day
Tina Fey as Palin, Round Two

September 27 / 28, 2008

Alexander Cockburn
How McCain Blew It

Linn Washington, Jr.
Alaska's Blacks and Palin: a Strained Relationship

Christopher Ketcham
An Israeli Trojan Horse

Mike Whitney
The People vs. the Banksters

Kevin Alexander Gray Race in the Race: Is Obama Shining Us On?

Anthony DiMaggio
The Unspoken War: Pakistan, the Media and Nuclear Weapons

Mary Lynn Cramer
Their Assets; Our Debts: How Economic Crises Are Overcome

Marc Levy /
Susan Erony

War Jokes Wanted: No Laughing Matter

Stan Cox
Livestock of Mass Destruction: Germ Labs in the Heartland

Saul Landau
Election Drizzle

Ali Khan
Meltdown in American Markets: an Islamic Perspective

David Rosen
The Great Fear: the Sexual Politics of Sarah Palin

Todd Alan Price
Bailing Out the Foes of Public Eduction

Matts Svensson
The Red and White Bird in Gaza

Ron Jacobs
Pakistan Through the Eyes of a Native Son

Robert Fantina
McCain and the Economy

Richard Rhames
Hank-ering for a Bailout

David Krieger
The U.S.-India Nuclear Proliferation Deal

Seth Sandronsky
Rethinking Charter Schools

Charles R. Larson
Dear Mrs. Abacha: a Nigerian Email Romance

Kim Nicolini
Sadism in the Desert

Poets' Basement
La Morticella, Holt, Moser and Buknatski

Website of the Day
The Great Schlep

September 26, 2008

Moshe Adler
Bailing Out Wall Street Won't Save Main Street

Bill Quigley
The U.S. War on Unarmed Working Mothers

Jonathan Cook
When Archaeology Becomes a Curse

Manuel Garcia, Jr.
Visions of Pinpoint Control: the Romance of Laser Weapons

Madis Senner
Why the Bailout will Fail

Brian Cloughley
US Raids in Pakistan: Violations of Sovereignty

Niranjan Ramakrishnan
Oh, Henry!

Joanne Mariner
Passport Fraud and Torture

Dan La Botz
The Financial Crisis: a View from the Left

David Macaray
Ralph's Management Indicted by Federal Grand Jury

Website of the Day
Nader and Obama Girl at the Office

September 25, 2008

Michael Hudson
The Insanity of the $700 Billion Giveaway

Sharon Smith
Democrats and Corporate Bailouts

Ralph Nader
Who Will Show Some Backbone Against the Bailout?

Christopher Ketcham
The Economy of Dead Sperm (or What I Learned From My Race-Car Grandpa Who Had No Bankers)

Eric Toussaint
Is Another Third World Debt Crisis in the Offing?

Robert Weissman
Getting Wall Street Pay Reform Right

David Estabrook
A Better Bailout Plan

Nikolas Kozloff
The Voyage of the SS Peter the Great

Steve Early
The High Price of Purple Dissent

Judith Scherr
Blue Helmets in Haiti

Laray Polk
South Ossetia and Abkhazia: Notes from the Inside

Website of the Day
Letterman Spanks McCain

September 24, 2008

Paul Craig Roberts
The Bitter Fruits of Deregulation

Nikolas Kozloff
Palin at the UN: a Tutorial from Uribe

Robert Weissman
The Financial Crisis: How and Why Congress Should Play for Time

Andy Worthington
The Guantánamo Trials: Govt. Says Six Years Not Long Enough to Prepare Evidence

Steve Conn
Will Nader's Warning be Acknowledged in the Presidential Debates?

Karyn Strickler
The $700,000,000,000 Power Punch

Diane Farsetta
Stealth Marketers Gone Wild

Dennis Loo
Poisoned Legacy

John Halle
Wealth Tax Now!

Khalil Nakhleh
Palestinians Under the Occupation

Website of the Day
Nader: Debate Crasher

September 23, 2008

Rev. Jesse Jackson, Sr.
Bail Out on This Bailout

Michael Hudson
Henry Paulson and the New Yazoo Land Scandal

Tariq Ali
Why was the Marriott Targeted?

Patrick Dyer
A Death Row Visit with Troy A. Davis

Franklin Lamb
Hezbollah and the Palestinians

Joshua Frank
Oppose Barack Obama? How Dare Thee!

Alan Farago
Pushing the Referees: How the Financial Crisis Occurred

Dave Lindorff
The Bailout Will Kill the Dollar

Tanya M. Kerssen /
Roger Burbach
Bolivia's Popular Upheaval

Harvey Wasserman
Nuclear Power Liabilities Dwarf Bush's Wall Street Bailout

Website of the Day
Hammered by the Irish: the Video

September 22, 2008

Michael Hudson
The Paulson-Bernanke Bank Bailout Plan: Will the Cure be Worse Than the Crisis?

Mike Whitney
Mushroom Clouds Over Wall Street

Christopher Ketcham
Let It Collapse!

Ron Jacobs
The Predators' Bailou
t

Anne-Marie McManus
Lost in the Rhetoric of Crisis

Robert Weitzel
The Twin Terrors of the Holy Land
: a Sexy Fundamentalist and a White-Haired Zionist

Wajahat Ali
An Interview with Howard Dean

John Ross
A New Cold War Comes to Latin America

Steve Breyman
Does the U.S. Really Need Cluster Bombs?

Patrick Bond
On the Bellies of the Filth

Uri Avnery
Fly, Tzipora, Fly

Carl J. Mayer
An Open Letter to Michael Moore (AKA God's Pen Pal): Whatever Happened to Voting Your Conscience?

Website of the Day
Stop the Execution of Troy Anthony Davis

September 20 / 21, 2008

Alexander Cockburn
Is This the Stake Through Neoliberalism's Heart?

Michael Hudson
America's Own Kleptocracy

Pam Martens
The Wall Street Model: Unintelligent Design

Lila Rajiva
Putting Lipstick on an AIG

Mike Whitney
Full-Spectrum Breakdown

Richard Rhames
A Bailout to Nowhere

Bill Moyers /
Michael Winship
The NY Yankees and the U.S. Economy

Bill and Kathleen Christison
The Making of Recent U.S. Middle East Policies: a New Study of Neocon Influence

Susan Block
Palin as Venus in Furs: the Dominatrix Politics of Drilling and Killing

Robert Fantina
Republicans and Subpoenas: Never the Twain Shall Meet

Heidi Walters
Hung Up on Route 36: an 18-Wheeler and a Nuclear Cask

David Yearsley
Germany's Lost Organs: When Bigger Was Better

Raymond J. Lawrence
The Politics of Tribulation: Sarah Palin and the Rapture

David Rosen
One Billion Pills Later: Viagra at 10

David Michael Green
Living in Sarah Palin's America

Anthony Papa
Imprisoned Voters and the Elections

Niranjan Ramakrishnan
Freddie, Fannie, Daddy, Nanny

Howard Lisnoff
When We Notice the Homeless

John Goekler
Leaving Every Child Behind

Missy Beattie
Impalement

Dave Zirin
Leave Josh Howard Alone

Charles R. Larson
Holden Caulfield, Rest in Peace

Tim Matson
Too Big for His Birches: Woodlot Economics

Susie Day
Attack of the Angry Fetus

Poets' Basement
Corseri, Gibbons, Jenkins and Ford

Website of the Weekend
Dylan & Baez: Deportees

September 19, 2008

Steven T. Banko
McCain's Passion Play

Mike Whitney
The Point of No Return

Michael Hudson
The Dow Jones' Wonderfully Cheesy Addition

William Kaufman
Shattering the Glass-Steagall Act: the Bi-Partisan Origins of the Financial Crisis

Brenda Norrell
The Fall of Lehman Bros.: Blowback for Black Mesa?

Keeanga-Yamatta Taylor
The New Rhetoric of Racism: Why Won't Obama Call It Out?

Clifton Ross
Bolivia: Cleaning Up the Bull Ring

Dave Lindorff
Hang On to Your Wallets: the Government's About to Rescue Us!

Cynthia McKinney
Seize the Time!

Susan Hurlich
Storm Survivors: a Dispatch from Cuba

Michael Donnelly
Let's Hand It All Over to the Democrats (They Helped Create This Mess)

Website of the Day
The Crisis Explained

September 18, 2008

Benjamin Dangl
The Machine Gun and the Meeting Table

Harvey Wasserman
The Senate's Drill, Drill, Drill Scam

Susan Abulhawa
The Lobby Has Spoken: Biden and Israel

Robert Weissman
After the Fall: the Financial Re-Regulatory Agenda

Anne-Marie McManus
McCain's Cinderella: the Fetishization of Sarah Palin

Corey D. B. Walker
The Poverty of 21st Century Progressivism

William S. Lind
Senator O'Bush: Why Obama is Wrong on Iran and Afghanistan

Ron Jacobs
Washington's False Logic of Torture

Dave Lindorff
American and China: Joined at the Hip

Binoy Kampmark
How Damien Hirst Got Away With It

Website of the Day
An Invisible Army

September 17, 2008

Stephen Conn
Palin and the Politics of Big Oil

Forrest Hylton
Reactionary Rampage in Bolivia

Patrick Cockburn
Petraeus Leaves Iraq

Gregory Elich
Inside North Korea

Ralph Nader
How the U.S. Auto Industry Wrecked Itself

Franklin Lamb
The Palestinians of Shabra-Shatila

Pam Martens
The Gang's All Here: Bush, McCain and the Old Iran/Contra Team

Dave Lindorff
The End of the Blue Chip Economy

Peter Morici
The Damage Deepens

Stanley Heller
The Killing of Count Folke Bernadotte

Douglas Valentine
Rambling David Foster Wallace

Website of the Day
Free Cindy McCain!

September 16, 2008

Paul Craig Roberts
US Economy: Rudderless and Reeling from Direct Hits

Tiphaine Dickson
Citizen Palin: Why Sarah Palin Quoted Westbrook Pegler

Stan Goff
America is Now Rome: an Open Letter to Christian Troops in Iraq and Afghanistan

Uri Avnery
Tzipi's Choice

Michael Winship
Lipstick on Polar Bears

Jeff Halper
Warehousing Palestinians

Patrick Irelan
Bolivia Versus the Empire

Oscar Gonzalez
Who's Dumber? Ike's Refugees or Wall Street's?

Binoy Kampmark
Cheney and His Records

Fatemeh Keshavarz
Muslims are at Peace with You

Sen. Russ Feingold
Restoring the Rule of Law

Website of the Day
The Next Great Rock Band?

September 15, 2008

Mike Whitney
The Tumbrils Roll at Dawn

Peter Morici
Toxic Lehman

Patrick Cockburn
Take Another Look at the Surge

Charles R. Larson
The Maverick Has No Clothes

Jonathan Cook
The Expulsion of Palestinians from Jaffa

Nikolas Kozloff
Racist Rhetoric in Bolivia

Roger Burbach
Morales Confronts the Insurrection: Bolivia and the Echoes of Allende

Helen Redmond
Where's the Health Care Bailout?

David Michael Green
The Democrats Do Poland

David Macaray
The Boeing Strike

Ralph Nader
Remembering Peter Camejo

Website of the Day
The Ballad of Sarah Palin

 

 

Weekend Edition
October 10 / 12, 2008

Exorcism After Death
BY SAUL LANDAU

(Read at the Leteliler Moffit Memorial 2008)

For two decades he loomed
Larger than a great white
Strange he has shrunk
Lying quietly benignly
Somewhere and who cares

He assumed strenuous postures
Reduced the curious to naughty children
Sneered at me and my family
He after all represented death
And made many quite sick

He sent smoke in my mouth
Flames and fear into the air
The rich loved his severity
The poor eternally need lessons
Tough love and such you know

Well it’s over ding dong witch is dead!
But like Neruda’s haunting memory
“His tremulous shadow twists in my hands.”
Too much blood too many bodies
“Penetrate the atmosphere—nausea”

Nothing’s ever over love hate
They just morph into apathy despair
Or onto the next vital task
Inspired by beating the odds

Some Detail
By SAUL LANDAU

(Read at the Leteliler Moffit Memorial 1988)

The Omen: rain had dropped instead of dew;
No alarm bell had roused Nature’s laws alert;
A sticky whiny misty light, no clarity;
Nervous killers wait; anxious grouchy traffic stall.

Morning filled with ugly clouds,
Shapeless blobs of muggy gray.
I remember fragments like the
Weather and the sky that day.

Afternoon visions, officials, dogs, ambitious men;
Infamy woven with confusion, ashen fear and acid tears;
Somewhere in sleep someone had dreamed symbolic something;
Rage, compassion, surrender, revenge made mental rounds

It was the night before,
Or the night before that;
We leaned on the car, a late
Summer dinner, midnight chat;

Can we remember the night?  Recall if stars and moon emerged?
Did sleep slip into the fearful tissues of reflection?
Did bruised eyelids collapse in fatigue over hollow lenses?
Time changed a troubled course; a rape in the mid morning rain.

What a laugh! Had we known
We’d’ve had much less aplomb;
We leaned on the hood of the car,
Laughing; underneath was a bomb

SAUL LANDAU lives in the Oakland and can be reached at: slandau@igc.org

 

Lost in the Translation
BY D.J. MOSER 

After the bombing,
Some soldiers drove past throwing
Candy to the kids
Chasing after them. “Fuck  you!”
Screamed the kids in their  own tongue,  
Picking up the bright
Boxes and shaking them at
The dust parade. “How
They love us!” laughed a soldier,
Taking curses for blessings.  

D.J. MOSER is a freelance writer living in Washington, DC and can be reached at dajamo@verizon.net.

 

In playing solitaire with a pearl handled card deck
BY LANCE HENSON

In playing solitaire with a  pearl handled card deck
While it rains at an outside  bar in groom texas
Lightning cracks between the  plains and a day lit moon
Following three days of anger  and desolation
A wind flares damp against  my face  
In the amazonian rain forest  the yanomami women are selling
Their bodies as prostitutes  so their warriors Can afford guns and ammunition  to fight the goldminers  
On a plane between bangkok  and manila last september
A drunk and pungent american  is staring at my long hair
Colonists all smell the same
On any given day i can spit  in any direction and hit one  
Its cold and dusty on cerrilos  road in santa fe
I havent spoken to anyone in  six days
At a taco stand a kid in a  military suit asks me
If im someone
Shit
I didnt even know i was there  
It is said that noah sent two  ravens out into the flooded world
They never returned
I met them in the red light  district in amsterdam last year
Disguised as defrocked monks
I told them i was flying away  from america
They told me they were still  flying away from the arc.....   

LANCE HENSON wrote this poem in Ponticella, Italy, December 10, 2006. Lance is Cheyenne, Oglala Sioux and French. He served in the U. S. Marine Corps after high school, during the Vietnam War, and is a graduate of Oklahoma College of Liberal Arts (now University of Science and Arts of Oklahoma) in Chickasha. He holds a MFA in creative writing from the University of Tulsa. Lance has published 17 books of poetry, half in the U.S. and half abroad. His poetry has been translated into 25 languages and he has read and lectured in nine countries. His readings include the One World Poetry Festival in Amsterdam, the International Poetry Festival in Tarascon, France, and the Geraldine Dodge Poetry Festival in New Jersey. In March 2008, he was the feature poet at the National Museum of the American Indian in Washington D.C., as part of the Vine Deloria memorial reading series. Lance can be reached at lancehens@yahoo.com.

 

Editorial Note: Submit your poems as a word document to CounterPunch's poetry editor, Kimberly Willson at: willsons53@gmail.com

Please submit your poetry by Tuesday in order to be considered for the CounterPunch Weekend Edition of the Poets Basement. The Weekend Edition will now run on Fridays instead of Saturdays. Make sure that you include a biographical sketch with your submissions.

Kimberly does not archive poetry nor biographical sketches. (At the very least, tell us where you are from and how you can be reached through CP’s Poets Basement). Thanks!


 

 

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