Editorial Roundup

Excerpts from recent editorials in newspapers in the United States and abroad:

Jan. 22

Chicago Tribune, on Khe Sanh and President Obama's inaugural speech:

In his inaugural address ... President Barack Obama summoned the memories of epic American fights for freedom, reciting battle sites that every school child knows: Concord. Gettysburg. Normandy. But he added one that has not ranked among those famous battles of the American Revolution, the Civil War and World War II.

"For us," he said, "they fought and died, in places like Concord and Gettysburg, Normandy and Khe Sanh."

The siege of Khe Sanh, in the first months of 1968, was one of the bloodiest battles of the Vietnam War. It lasted 77 days and claimed about 200 American lives, according to official U.S. figures. Some accounts put the death toll much higher. The siege, and the Tet Offensive that started around the same time, helped turn American public opinion against the war.

Obama's reference to Khe Sanh was brief, but it was probably noticed by millions of Americans some who fought in the war, some who protested against the war, and some who just remember that agonizing time in American history.

In listing Khe Sanh with three epic battles for American freedom, Obama as much as said: We're past one generation's long political divide over Vietnam. What we remember, what we honor, is the sacrifice of more than 58,000 American soldiers who died and tens of thousands who were wounded.

That was a nice touch in a fine speech summoning Americans to find courage for the days — and battles — ahead. ...

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On the Net:

http://www.chicagotribune.com.

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Jan. 23

Daily News, New York, on former Merrill Lynch CEO John Thain:

If the Olympics had a biathlon in greed and arrogance, ousted Merrill Lynch boss John Thain would win gold medal, silver and bronze — because this guy has brass.

While his storied Wall Street firm was sinking — its losses tallied $15 billion in just the last three months of 2008 — Thain rushed bonuses through for his helpmates. By some accounts, the payments were staggeringly large.

Thain's gall was all the more outrageous because, at the time, he was on the verge of unloading Merrill Lynch onto Bank of America, a financial institution that taxpayers had bailed out to the tune of $25 billion. Talk about buying drinks with other people's money.

Back then, Thain enjoyed a sterling reputation on Wall Street. After rising to the top of Goldman Sachs, he was tapped to rejuvenate the New York Stock Exchange, which he did, and was then brought in to save Merrill Lynch when the company began to collapse. They called him Mr. Fixit.

Now, his name is mud. ...

For, it turns out, Thain excelled at throwing money around even as Merrill Lynch was circling the drain. ...

Then, as he was selling Merrill Lynch to Bank of America, he passed out bonus money as if he had the key to the mint. The Financial Times reported on its Web site that as much as $4 billion may have been boodled to people who didn't deserve a penny, even if the money had been Merrill Lynch's to give. Considering that Bank of America is looking for another $20 billion from taxpayers to help it out with Merrill Lynch's losses, that goes beyond outrageous.

New York State Attorney General Andrew Cuomo is reportedly investigating the bonuses. He should. If there isn't a law against this, there should be.

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On the Net:

http://www.nydailynews.com

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Jan. 28

St. Louis Post-Dispatch, on the economic stimulus bill:

As a measure of the state of the U.S. economy, the U.S. House of Representatives today is expected to pass an $825 billion economic stimulus bill and it may not be big enough. ...

The stimulus package is expected to grow when it reaches the Senate, and its configuration may change as well. The House package contains about $2.80 in direct spending for every $1 in tax reductions. President Barack Obama is expected to adjust that ratio to attract bipartisan support in the Senate. ...

But most Republican House members cravenly will vote against the bill anyway, if only for political cover back home. They can do so secure in the knowledge that the package will pass anyway and their Senate colleagues will do the heavy lifting on a final version. ...

In all, the Congressional Budget Office estimates that the stimulus package "would have a noticeable impact on economic growth and employment in the next few years." ...

The downside, of course, is that the CBO says budget deficits would increase by $816 billion in the same period, leaving us all to hope that former Vice President Dick Cheney was right in 2002 when he said, "Reagan proved that deficits don't matter."

What budget analysts cannot forecast is the psychological effect of the stimulus bill. Confidence is expensive, but whatever the price, it must be paid.

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On the Net:

http://tinyurl.com/boprdx

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Jan. 28

Los Angeles Times, on Obama's TV interview with Al Arabiya:

President Obama is not going to solve the Israeli-Palestinian conflict, crush the Taliban, end Iran's nuclear intransigence, get Syria to stop interfering in Lebanon or end the fighting in Iraq overnight -- or next week, or possibly ever. Yet his interview ... with the Al Arabiya satellite channel laid a foundation for better U.S. relations with the Arab world than we've had in many years.

Obama's savvy diplomacy started before he even opened his mouth, with his selection of Al Arabiya to air the first official television interview he has granted since taking office. Not only did this signal a new level of involvement in Middle Eastern affairs, but it gave a boost to a Saudi-owned news channel founded in 2003 to present a more balanced view of regional conflicts than was being produced by the more Islamist-leaning Al-Jazeera network. ...

Obama offered few clues about specific changes in policy, but the interview presented a striking change in tone from the belligerence and neglect of the Bush administration to respectfulness and engagement. ...

Obama's efforts to negotiate with hostile regimes are sure to rile many in this country, and not just the wingnut crowd that thinks the president's middle name proves he's a secret Muslim. They fail to see that diplomacy is not the same as surrender, that disputes are unlikely to end if opponents don't talk to one another, and that sanctions alone have been ineffective in changing the behavior of leaders in Iran and Gaza. A new approach couldn't be more welcome.

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On the Net:

http://tinyurl.com/c2srn8

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Jan. 27

The Dallas Morning News, on President Obama's proposed stimulus package:

Judging by the size of President Barack Obama's proposed stimulus package, we know that he can say "yes."

Now we hope he also knows the word "no."

The $825 billion package slightly different versions of which are moving through the House and Senate is built with both muscle and fat. The strong parts are those initiatives most likely to spark critical job growth and provide emergency economic aid: individual and business tax relief, aid for state Medicaid programs and unemployment benefits.

But the package also carries too much fat. Green energy initiatives, construction money for schools and job-creating provisions such as weatherizing buildings and building highways may be good ideas, but they don't belong in this particular legislation. And these are the items that have inflated the package to historic levels.

The standard for the stimulus plan should be that every dollar is targeted toward initiatives that Americans can touch and feel now. If Congress is going to send the deficit rocketing toward $2 trillion and potentially mortgage future generations, the payoff must come in ideas that have the best chance to lift the economy from recession.

The president would be wise to direct congressional leaders to remove the dubious infrastructure provisions and concentrate more on tax cuts. Right now, there is twice as much for government spending in the measure as there are tax cuts a troubling imbalance. ...

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On the Net:

http://tinyurl.com/cwjxgl

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Jan. 27

Sarasota (Fla.) Herald-Tribune, on President Obama's decision to lift a global gag rule on women's reproductive health and safety:

President Obama was right to rescind the so-called global gag rule.

The punitive policy had hampered international aid groups tasked with giving women information they need for reproductive health and safety.

Under the gag rule, U.S. funding was cut off to any non-governmental organization that counseled women on the topic of abortion, referred them to abortion providers, or lobbied for legalized abortion in countries where it is now banned.

Obama's decision ... brings common sense back to the political table.

Reversing the gag rule does not mean that U.S. taxpayers will be funding abortions abroad. (Another rule, initiated by the late Sen. Jesse Helms, prohibits the use of tax dollars on foreign abortions.)

Obama's action simply lets international reproductive health groups give accurate, needed information — without risking a major funding loss that inhibits the provision of other important services, such as sex education, physicals and contraception.

About 19 million pregnancies per year are terminated under unsafe conditions, killing an estimated 68,000 women annually, according to the World Health Organization.

There is nothing "pro-life" about such preventable deaths.

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On the Net:

http://www.heraldtribune.com

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Jan. 26

The Virginian-Pilot, Norfolk, Va., on American companies:

... Because, so far, our financial malaise hasn't spread as deeply abroad, bargain-minded multinationals are on a spending spree in the United States.

In a deal announced last week, the Italian carmaker Fiat will soon control more than a third of Chrysler, which has been teetering. Now that Fiat's cars are considered some of the finest in the world, the company wants back into the market it left in disgrace more than a quarter-century ago.

Also last week, The New York Times announced that Mexican telecom billionaire Carlos Slim had taken a $250 million stake in that American newspaper. In exchange, the tycoon would become its largest shareholder.

Those aren't isolated incidents. The Associated Press put it this way: "Slim is part of a crop of emerging-market billionaires, from Mexico to Russia, who are on a shopping spree now that the recession has slashed the prices of some of America's best-known companies." ...

All this activity will sound familiar to many Americans, an echo of the time when Japan's go-go economy spawned huge U.S. investment, or when oil profits inspired OPEC members to buy real estate all over America.

With new money so scarce right now, stumbling U.S. companies have few alternatives but to look abroad, both for investment and for confidence.

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On the Net:

http://hamptonroads.com/2009/01/world-comes-america-shop

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Jan. 26

Mobile (Ala.) Register, on President Barack Obama and terrorism:

Barack Obama took the first unpopular action of his presidency ... setting a one-year deadline for the closing of the Guantanamo detention camp for captured terrorists.

He also took a hesitant step into the swamp of legal ambiguity surrounding the status of the enemy combatants held at the U.S. military base in Cuba. The new president is likely to discover soon, if he hasn't already, that there is no clear legal, political and military blueprint for dealing with some of the world's most dangerous terrorists. ...

As expected, Obama ordered an end to coercive interrogation of captured terrorists and closed CIA facilities abroad where al-Qaida leaders such as Khalid Sheikh Mohammed, who planned the 9/11 attacks, were temporarily detained and questioned by intelligence operatives.

Information provided by Mohammed helped avert terrorist attacks in the United States and Europe. We hope Obama has pondered whether his moralistic concern about alleged "torture" will cost American lives. If more attacks do occur, he may be contemplating a one-term presidency.

In his inaugural address, Obama pledged in no uncertain terms that he would fight the war against the terrorists until they are defeated. We take him at his word, but wonder if he will find that he will need many — if not all — of the weapons President Bush used to put the terrorists on the defensive and keep America safe for seven years.

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On the Net:

http://tinyurl.com/cu7avu

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Jan. 28

The Times, London, on the automotive industry's struggles:

The rules for government intervention in the markets have been ripped up by the financial crisis. Even a few months ago the news that public money was to be given to the car industry to see it through a cashflow crisis would have been greeted with incredulity. Yesterday Lord Mandelson, the Business Secretary, announced just that. In the package to help the car industry, the Government will guarantee loans to a total value of 2.3 billion pounds.

Lord Mandelson was at pains to emphasize that the package is not a "bailout". This is his attempt to avert the plea of every struggling industry for public funds. In fact, his announcement is designed to unfreeze credit in the financing wing of the industry, rather than give a subsidy to the operating lines. This is, he emphasized, a profitable industry that needs a temporary dispensation. It would be foolish to allow job losses all the way down the supply chain if that can be prevented by the timely supply of capital.

This is a plausible case for treating the problems of the automotive industry as an aspect of the credit crunch. The argument did not need the specious green coating that Lord Mandelson applied. It is very hard to believe that the rationale for the package is to accelerate the transition to a low-carbon economy. ...

... It is the absence of credit that is hurting them, rather than their own inefficiency and, to that extent, Lord Mandelson makes a good case.

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On the Net:

http://tinyurl.com/btsbvm

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Jan. 27

The Toronto Star, on President Barack Obama's upcoming visit to Ottawa:

When U.S. President Barack Obama visits Ottawa in the coming weeks, he and Prime Minister Stephen Harper plan to "focus on the economy in particular," along with climate change and energy. At least, that is Harper's understanding, after speaking to Obama on the phone. ... But that's not all Obama has in mind.

According to the White House, Obama raised "the shared challenges we face in Afghanistan," as his own first order of business, along with climate change and the economy. That's no big surprise, as Obama prepares to shift U.S. troops from Iraq to Afghanistan, and canvasses allies for more political and practical support. But it does pose a potential headache for Harper and his minority government.

While Harper personally might favor keeping our 2,700 troops in Kandahar, Parliament has voted for a 2011 pullout. And a majority of Canadians agree. We have already spent more than $8 billion on the mission, and have lost 107 troops, a diplomat and two aid workers.

Even so, Obama's Afghan focus means Harper had better be ready to resist pressure to sign on for another Kandahar tour. There are other ways we can assist. By stepping up aid, for example. Or by giving the Afghan government technical support. ...

... But Harper shouldn't assume Obama will be content to focus on economic bailouts, oil rigs and climate change on his visit. The early signs suggest otherwise.

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On the Net:

http://www.thestar.com/comment/article/577663

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Jan. 27

Svenska Dagbladet, Stockholm, Sweden, on Iceland's government crisis:

Iceland's government threw in the towel yesterday. It doesn't exactly come as a surprise. On the contrary, what is strange is that Geir Haarde's administration could hang on for so long.

The financial crisis has hit the island country rock hard. The collapse of the country's expansive banks has led to a collapse also of the currency, national budget and economic growth.

Growth domestic product is expected to shrink by 10-12 percent this year and many Icelanders see their purchasing power cut by one-fourth. Households and companies have taken up loans in foreign currencies and now see their costs shooting through the roof as the krona slumps.

Of course, voters exploded and demanded that those in power be held accountable. But that's easier said than done.

The alternative to Haarde's coalition of the Independence Party and the Social Democratic Alliance Party is the left-green movement. But that is as skeptical to the business sector as it is to European Union membership and can only contribute to even greater insecurity among investors and trading partners around the world.

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On the Net:

http://www.svd.se

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Jan. 26

Asahi Shimbun, Tokyo, on reaching out to Iran:

Iran's controversial nuclear development program poses one of the most important diplomatic challenges for U.S. President Barack Obama, who has vowed to revitalize America's diplomacy.

In his Jan. 20 inaugural speech, Obama said, "To the Muslim world, we seek a new way forward, based on mutual interest and mutual respect."

Speaking to people in power who are "on the wrong side of history," he said, "we will extend a hand if you are willing to unclench your fist."

These words were apparently directed at Iran, too.

In response, Iranian Foreign Minister Manouchehr Mottaki said his country was ready to respond to a new U.S. approach.

But another high-ranking Iranian official cited Washington's acceptance of the nation's nuclear program as a condition for rapprochement after a nearly 30-year absence of formal bilateral diplomatic relations with the United States. That indicates Tehran is still taking a hard-line stance toward the United States. ...

Iran continues a uranium enrichment program that could lead to the development of nuclear weapons, ignoring the many resolutions adopted by the U.N. Security Council to impose sanctions on the country. ...

The former U.S. administration headed by George W. Bush adopted a hostile policy toward Iran. Its refusal to negotiate with Iran failed to produce any major results and succeeded only in making the country even more recalcitrant. The situation is only getting worse.

While having labeled Iran as a security threat to the world, Obama has pledged to find a solution through all diplomatic means available, including direct dialogue. ...

The new U.S. administration should kick off dialogue with Iran as soon as possible and make a tenacious effort to figure out ways to persuade Tehran to stop its uranium enrichment program. ...

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On the Net:

http://www.asahi.com/english/Herald-asahi/TKY200901270039.html

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