While everyone ritually insists that the bonds between Israel and the United States are “unbreakable,” yesterday’s analysis by Jeffrey Goldberg, “The Crisis in U.S.-Israel Relations Is Officially Here,” argues that they’re currently under unprecedented strain and that the fault lies mainly with Prime Minister Bibi Netanyahu.
The analysis argues further that, post-November, the Obama administration may no longer be inclined to protect Israel (at least to the same pathetic extent) at the UN Security Council and may even be willing to go a step further by presenting “a public full lay-down of the administration’s vision for a two-state solution, including maps delineating Israel’s borders. These borders, to Netanyahu’s horror, would based on 1967 lines, with significant West Bank settlement blocs attached to Israel in exchange for swapped land elsewhere. Such a lay-down would make explicit to Israel what the U.S. expects of it.”
I’m not a big fan of Goldberg, but this analysis is definitely worth a read if for no other reason than his voice is a very important one in the US Jewish community, including among the right-wing leadership of its major national organizations. And he essentially gives over most of the article—in a way that suggests he shares their views—to anonymous administration officials who have clearly grown entirely contemptuous of the Israeli leader, calling him, among other names, “chickenshit.” Goldberg himself describes the Netanyahu government’s policy toward Palestinians as being “disconnected from reality” and stresses what he calls the “unease felt by mainstream American Jewish leaders about recent Israeli government behavior.” It seems that his chief envoy and confidante here, Ron Dermer, is not doing a good job.
You don't have to subsidize banks and their stakeholders at taxpayer expense to avoid another Lehman. You just have to fix the banks the right way. What's the right way? * Temporarily seize the banks * Write their assets down to nuclear-winter levels (or, if desired, put them in a big bad bank, as Sheila Bair wants to do.) * Convert enough of their debt to equity to put them in a strong capital position. That's it. No taxpayer money. No citizen outrage. No comical "Yes, we're lending" assurances when what the banks are really doing is, sensibly, hoarding everything. We could do this to Citigroup and Bank of America tomorrow afternoon, and on Wednesday morning, two of our biggest banks would be rock solid (they could also still be publicly traded, under the same ticker symbols, with different shareholders).
