Daily Archives: April 17, 2010


Gates Says U.S. Lacks Policy to Curb Iran’s Nuclear Drive

Follow this link to the New York Times article published April 17, 2010.

Defense Secretary Robert M. Gates has warned in a secret three-page memorandum to top White House officials that the United States does not have an effective long-range policy for dealing with Iran’s steady progress toward nuclear capability, according to government officials familiar with the document.

Has warned some months ago, I might add, just in case you thought this was a recent story.

In other words, in a carefully leaked story, the administration let Iran know that it was fully prepared to take military action.

In an interview on Friday, General Jones declined to speak about the memorandum. But he said: “On Iran, we are doing what we said we were going to do. The fact that we don’t announce publicly our entire strategy for the world to see doesn’t mean we don’t have a strategy that anticipates the full range of contingencies — we do.”

We all know that this is the way strategy should be discussed.  You leave it vague enough that the enemy does not know what you are planning, but you make sure they know you are planning something.  At least this administration is a little more subtle about it.  It doesn’t challenge anybody to bring it on.


Simon Johnson & James Kwak on Fin’l Reform (Moyers Journal) 1

On 16 April 2010, Bill Moyers Journal (PBS) aired an excellent interview with Simon Johnson and James Kwak on Financial Regulation Reform. [This link takes you to both an archived video and a transcript of the broadcast.] The interview is an indictment of the historical (and current) intertwining of large financial institutions and political legislators to create and maintain a financial oligarchy in this country. Shame on the members of Congress who are trying to thwart efforts to reform our financial system!

This interview is emblematic of the hard-hitting and well-reasoned analysis of Bill Moyers Journal. I am deeply saddened that Bill Moyers is retiring on 30 April 2010; I hope that PBS finds someone nearly as talented as Moyers to fill his shoes.

Simon Johnson is former Chief Economist at the International Monetary Fund and is currently a Professor at MIT’s Sloan School of Management and a Senior Fellow at the Peterson Institute.   James Kwak is  a former Consultant at McKinsey and Co. and is currently a student at Yale Law School.

Both Johnson and Kwak are co-founders of the financial crisis blog, BaselineScenario, and are co-authors of the recently published book, 13 Bankers. Here are two reviews of “13 Bankers”:

“The best explanation yet for how the smart guys on Wall Street led us to the brink of collapse. In the process, Johnson and Kwak demystify our financial system, stripping it down to expose the ruthless power grab that lies at its center.”
— Elizabeth Warren, Leo Gottlieb Professor of Law, Harvard Law School; and Chair, TARP Congressional Oversight Panel

“Too many discussions of the Great Recession present it as a purely economic phenomenon – the result of excessive leverage or errors of monetary policy or algorithms run mad. Simon Johnson was the first to point out that this was and is a crisis of political economy. His and James Kwak’s analysis of the unholy inter-twining of Washington and Wall Street – a cross between the gilded age and a banana republic – is essential reading.”
— Niall Ferguson, Professor of History, Harvard University; Professor, Harvard Business School; and author of The Ascent of Money

-RichardH