“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
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Dean Baker: Alan Greenspan owes America an apology
The former Fed chair is promoting his new book. He should admit his role in the housing crisis, not insult our intelligence
Alan Greenspan will go down in history as the person most responsible for the enormous economic damage caused by the housing bubble and the subsequent collapse of the market. The United States is still down almost 9m jobs from its trend path. We are losing close to $1tn a year in potential output, with cumulative losses to date approaching $5tn. [..]
The horror story could have easily been prevented had there been intelligent life at the Federal Reserve Board in the years when the housing bubble was growing to ever more dangerous proportions (2002-2006). But the Fed did nothing to curb the bubble. Arguably, it even acted to foster its growth with Greenspan cheering the development of exotic mortgages and completely ignoring its regulatory responsibilities.
Most people who had this incredible infamy attached to their name would have the decency to find a large rock to hide behind; but not Alan Greenspan. He apparently believes that he has not punished us enough. Greenspan has a new book which he is now hawking on radio and television shows everywhere.
Jeremy Scahill: Will the Global War on Terror Ever End?
Policies initiated under President Bush and continued and expanded under Obama have brought the world to the dawn of a new age, the era of the Dirty War on Terror.
On January 21, 2013, Barack Obama was inaugurated for his second term as president of the United States. Just as he had promised when he began his first campaign for president six years earlier, he pledged again to turn the page on history and take U.S. foreign policy in a different direction. “A decade of war is now ending,” Obama declared. “We, the people, still believe that enduring security and lasting peace do not require perpetual war.” [..]
Yet, as Obama embarked on his second term in office, the United States was once again at odds with the rest of the world on one of the central components of its foreign policy. The drone strike in Yemen the day Obama was sworn in served as a potent symbol of a reality that had been clearly established during his first four years in office: U.S. unilateralism and exceptionalism were not only bipartisan principles in Washington, but a permanent American institution. As large-scale military deployments wound down, the United States had simultaneously escalated its use of drones, cruise missiles, and Special Ops raids in an unprecedented number of countries. The war on terror had become a self-fulfilling prophecy.
The question all Americans must ask themselves lingers painfully: How does a war like this ever end?
Now we know that even the president needs leaks from Edward Snowden to be fully informed about the dastardly acts of his own top spy agency. It was Snowden’s recent revelations that led Obama to order an investigation into spying on private communications of 35 world leaders, including our closest allies, a clear betrayal of the trust needed to establish a more peaceful world.
According to a Wall Street Journal account from senior U.S. officials, the president had been kept in the dark as to the extent of the NSA spy program: “President Barack Obama went nearly five years without knowing his own spies were bugging the phones of world leaders. Officials said the NSA has so many eavesdropping operations under way that it wouldn’t have been practical to brief him on all of them. They added that the president was briefed on and approved of broader intelligence-collection ‘priorities,’ but that those below him make decisions about specific intelligence targets.” Huh?
Ana Marie Cox: Dick Cheney, one-man zombie apocalypse
The former VP has returned from the shadows – weirdly, to court the Tea Party for daughter Liz’s Senate run. Happy Halloween!
Rationally, I realize that the reappearance of Dick Cheney in the media landscape is tied to his promoting his new book, Heart: An American Medical Odyssey. And, with equal clear-mindedness, I know that his publisher no doubt timed the book’s debut to capitalize on the roll-out of the Affordable Care Act – Cheney has gravely insisted in interviews that the ACA would limit the technological innovations that allow his own survival.
A more primal part of me simply sees “Cheney”, “heart” and “Halloween” and I clutch my own chest in fear. [..]
‘m as eager a student of horror novels as politics, but I don’t usually get a chance to bring the wisdom of one field into the other. By way of wishing you a happy Halloween, let me also issue a reminder: the risk of bringing someone back from the dead is that they turn on you. When people play God, they only create monsters … boo!
Eugene Robinson: The Out-of-Control NSA
Let’s get this straight: The National Security Agency snooped on the cellphone conversations of German Chancellor Angela Merkel? Perhaps for as long as a decade? And President Obama didn’t know a thing about it?
Either somebody’s lying or Obama needs to acknowledge that the NSA, in its quest for omniscience beyond anything Orwell could have imagined, is simply out of control.
The White House has not denied news reports-courtesy of disclosures by whistleblower Edward Snowden-that the spy agency eavesdropped on Merkel’s phone calls. Press secretary Jay Carney said that “the United States is not monitoring and will not monitor the communications of the chancellor,” which sure sounds like an admission that such “monitoring” took place in the past.
Karen Higgins: Targeting Wall Street, Robin Hood Tax Comes to Washington
With Congress about to begin the next cycle of budget battles – mostly focused on how much more pain to inflict on Main Street communities across America – a far different message is bubbling up across the land.
Activists from across the land gathered in Washington October 29 to step up what has become an increasingly vocal demand for a change of priorities and tone – with a call to expand the revenue pie with a tax on Wall Street speculation, the Robin Hood tax.
“The fire in this room will light up the sky for a lot of people,” said Larry Hanley, international president of the Amalgamated Transit Union surveying the room in the closing session of an action conference for the Robin Hood Tax campaign.
For the past two years, a movement has been building in the U.S., now endorsed by more than 160 local and national organizations who are calling for a sharp turn away from policies of austerity and more budget cuts with a financial transaction tax on stocks, bonds, derivatives and other financial instruments, paid by those very same banks, investment houses, hedge fund managers, and Wall Street traders who created the latest financial crisis.
Or as Hanley put it, “There’s been a 40 year crime wave and we’ve been the victims.”