Posts Tagged ‘Looting’
The worm turns….or twists in the wind, according to your view. It really was international Banksters that lit the fuse under Mubarak with their wholesale looting, so it’s almost fun to watch them scurry around trying to find someone to bail them out of this mess. Too bad power and wisdom don’t go together. And in the end the people pay with misery for the blunders of their bosses.
“Obama scrambles to limit damage after Frank Wisner makes robust call for Mubarak to remain in place as leader…..Frank Wisner, President Barack Obama’s envoy to Cairo who infuriated the White House this weekend by urging Hosni Mubarak to remain President of Egypt, works for a New York and Washington law firm which works for the dictator’s own Egyptian government. Mr Wisner’s astonishing remarks – “President Mubarak’s continued leadership is critical: it’s his opportunity to write his own legacy” – shocked the democratic opposition in Egypt and called into question Mr Obama’s judgement, as well as that of Secretary of State Hillary Clinton. The US State Department and Mr Wisner himself have now both claimed that his remarks were made in a “personal capacity”. But there is nothing “personal” about Mr Wisner’s connections with the litigation firm Patton Boggs, which openly boasts that it advises “the Egyptian military, the Egyptian Economic Development Agency, and has handled arbitrations and litigation on the [Mubarak] government’s behalf in Europe and the US”.”
Three US warships dispatched to Egypt signal that Washington is stepping up efforts to secure the embattled regime of Hosni Mubarak.
The IMF’s Epic Fail on Egypt (naked capitalism)
Over the last week, we’ve had the spectacle of the Western media speculating about what is going on in Egypt in the absence of much understanding of the forces at work (this article by Paul Amar is a notable exception).
Needless to say, there has also been a great deal of consternation as to how the West’s supposedly vaunted intelligence apparatus failed to see this one coming. This lapse is as bad as the inability to foresee the collapse of the Soviet Union (it’s arguably worse: a lot of people profited from the Cold War, and they’d have every reason to fan fears and thus look for evidence that would support the idea that the USSR was a formidable threat. By contrast, one would think that conveying word that the domestic situation in Egypt was charged would have led to more intense scrutiny which ought to have served some interests (like various consultants and analysts). That suggests the US was so wedded to Mubarak that anyone who dared say his regime was at risk would get “shoot the messenger” treatment, and thus nary a discouraging word was conveyed).
Driving Through the Gates of Hell and Other American Pastimes in the Greater Middle East
“There is simply no basis for arguing that Democratic elites are pursuing poor strategy anymore. They are achieving an enormous amount of leverage within the party. Consider the following. Despite Obama violating every core tenet of what might have been considered the Democratic Party platform, from supporting foreclosures to destroying civil liberties to torturing political dissidents to wrecking unions, Obama has no viable primary challenger. Moreover, no Senate Democratic incumbent lost a primary challenge in 2010, despite a horrible governing posture. Now THAT is a successful strategy, it minimized the losses of the Democratic elite and kept them firmly in control of the party. Thus, the political debate remains confined to what neoliberals want to talk about. It’s a good strategy, it’s just you are the one the strategy is being played on.”
NakedCapitalism January 13, 2011
Yves here. I took the liberty of lifting this comment by Matt Stoller from a recent post, since it is informative in its own right and relevant to the piece today dissecting a mortgage proposal advanced by a think tank with close ties to the Administration.
By Matt Stoller, the former Senior Policy Advisor for Rep. Alan Grayson. His Twitter feed is @matthewstoller
Since the 1970s, Democratic elites have focused on breaking public sector unions and financializing the economy. Carter, not Reagan, started the defense build-up. Carter, not Reagan, lifted usury caps. Carter, not Reagan, first cut capital gains taxes. Clinton, not Bush, passed NAFTA. It isn’t the base of the Democratic party that did this, but then, voters in America have never had a lot of power because they are too disorganized. And there wasn’t a substantial grassroots movement to challenge this, either.
Obama continues this trend. It isn’t that he’s not fighting, he fights like hell for what he wants. He whipped incredibly aggressively for TARP, he has passed emergency war funding (breaking a campaign promise) several times, and nearly broke the arms of feckless liberals in the process. I mean, when Bernie Sanders did the filiBernie, Obama flirted with Bernie’s potential 2012 GOP challenger. Obama just wants policies that cement the status of a aristocratic class, with crumbs for everyone else (Republican elites disagree in that they hate anyone but elites getting crumbs). And he will fight for them.