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Lewis Powell, a corporate lawyer who sits on the boards of 11 corporations, writes a memo to his friend Eugene Sydnor Jr., the director of the US Chamber of Commerce. The memo, titled “Attack of American Free Enterprise System,” posits that the US business culture “is under broad attack” from a number of venues. (Reclaim Democracy 4/3/2004) Powell is a conservative Southern Democrat and former American Bar Association president who turned down a 1969 offer to sit on the Supreme Court. (Landay 8/20/2002)
Corporate Capitalism under Broad Attack - Powell is worried about “attacks” from left-wing political and social interests and organizations, whom he says want to institutionalize “socialism or some form of statism (communism or fascism)” in the stead of US capitalism, but is more concerned with a few “extremist” critics who strive for many of the same goals as the “statists.” “We are not dealing with sporadic or isolated attacks from a relatively few extremists or even from the minority socialist cadre,” he writes. “Rather, the assault on the enterprise system is broadly based and consistently pursued. It is gaining momentum and converts.” Powell points to a “varied and diffused” number of attackers, including “not unexpectedly, the Communists, New Leftists, and other revolutionaries who would destroy the entire system, both political and economic. These extremists of the left are far more numerous, better financed, and increasingly are more welcomed and encouraged by other elements of society than ever before in our history. But they remain a small minority and are not yet the principal cause for concern. The most disquieting voices joining the chorus of criticism come from perfectly respectable elements of society: from the college campus, the pulpit, the media, the intellectual and literary journals, the arts and sciences, and from politicians. In most of these groups the movement against the system is participated in only by minorities. Yet, these often are the most articulate, the most vocal, the most prolific in their writing and speaking.” Television gives these voices a prominence that their numbers and ideologies should not have, he says. Powell cites university campuses and the national news media as the most troublesome and “dangerous” sources of anti-business sentiment. He cites consumer advocate Ralph Nader as “[p]erhaps the single most effective antagonist of American business,” a “legend in his own time” who, Powell writes, wants to “smash… utterly the target of his hatred, which is corporate power.” Nader and his colleagues want to radically revamp the corporate tax system, Powell says, to gut tax loopholes and “incentives” that keep corporate profits high and tax burdens relatively low; the same tax revisions would harshly impact America’s wealthy. Powell calls these effots “either political demagoguery or economic illiteracy,” and warns, “This setting of the ‘rich’ against the ‘poor,’ of business against the people, is the cheapest and most dangerous kind of politics.” Most corporate entities and personnel have paid little to no attention to these attacks, Powell says; he acknowledges that “businessmen have not been trained or equipped to conduct guerrilla warfare with those who propagandize against the system, seeking insidiously and constantly to sabotage it.” But, he says, this training must commence, for the survival of America’s corporate business culture.
Fighting Back - Individual businesses must designate senior executives “whose responsibility is to counter—on the broadest front—the attack on the enterprise system,” perhaps through the various corporations’ public relations departments. The Chamber of Commerce, both the national entity and its local affiliates, must take a leadership role in organizing, streamlining, and effecting these countering activities.
Countering University Opposition - American college campuses must be targeted, Powell writes, with a particular eye to social science departments, whose members “tend to be liberally oriented, even when leftists are not present. This is not a criticism per se, as the need for liberal thought is essential to a balanced viewpoint. The difficulty is that ‘balance’ is conspicuous by its absence on many campuses, with relatively few members being of conservatives or moderate persuasion and even the relatively few often being less articulate and aggressive than their crusading colleagues.” Attacking academic freedom itself would be a “fatal” mistake, Powell notes, but the “liberal” and “anti-business” voices on university faculties must be “balanced” by Chamber of Commerce speakers and scholars who challenge the rhetoric coming from the universities. College textbooks must be “evaluated” by these Chamber-employed scholars to ensure that they reflect “balance,” in many instances challenging what Powell calls the rewriting of textbooks by scholars affiliated with the civil rights movement. “If the authors, publishers, and users of textbooks know that they will be subjected—honestly, fairly, and thoroughly—to review and critique by eminent scholars who believe in the American system, a return to a more rational balance can be expected,” he writes. Powell says that “avowed Communists” make a large number of speeches and presentations on college campuses every year—over 100 in 1970 alone—and are augmented by “many hundreds of appearances by leftists and ultra-liberals who urge the types of viewpoints indicated earlier in this memorandum.” Such presentations must be “balanced” by pro-business, pro-conservative speakers, put forth “aggressively” by the Chamber and other organizations. College faculties must be “balanced” by the hiring of pro-business professors. One venue that entities such as the Chamber could successfully work through is a university’s graduate school of business. And the Chamber scholars must publish in academic journals and consumer publications such as Life and Reader’s Digest.
High School Efforts - Such efforts must be tailored and implemented on a high school level also, Powell writes.
Public Outreach - The public must be reeducated, Powell writes, to see business and corporate interests as inherently good for America. The obvious and most effective venue, he says, should be through the means of television, using educational programs, paid news analysts, and advertising as much as possible—“[i]f American business devoted only 10 percent of its total annual advertising budget to this overall purpose, it would be a statesman-like expenditure,” he writes. News forums such as Meet the Press should be constantly urged to provide “equal time” for pro-business analysts. Radio and newspaper outlets are also important for promulgating the message. Books and pamphlets made widely available are quite necessary, Powell notes.
Political Arena - Only “Marxists” insist that “capitalist” countries such as the US are controlled by big business. Indeed, Powell says, “leftist” and “socialist” interests control much of American politics, particularly in the area of messaging. “One does not exaggerate to say that, in terms of political influence with respect to the course of legislation and government action, the American business executive is truly the ‘forgotten man,’” he writes. Advocates of “consumerism” or the “environment” dominate the political discussion, Powell states. This dominance must be challenged, and Americans must be “enlightened” as to the positive role of a powerful business culture in US politics. Business must adopt some of the more direct tactics now used by US labor groups.
The Judiciary - The US judicial system, he writes, “may be the most important instrument for social, economic, and political change.” Left-wing groups have long “exploited” the judiciary for their own ends, he says; it is time for business to exert some of the same influence in the courts and fight for its own prerogatives. “This is a vast area of opportunity for the Chamber, if it is willing to undertake the role of spokesman for American business and if, in turn, business is willing to provide the funds,” he says. A large and competent cadre of lawyers is necessary to this end, trained to argue pro-business viewpoints in front of “activist” judges, and carefully selected cases should be advanced in the judicial system.
Neglected Stockholder Power - Powell continues: “The average member of the public thinks of ‘business’ as an impersonal corporate entity, owned by the very rich and managed by over-paid executives. There is an almost total failure to appreciate that ‘business’ actually embraces—in one way or another—most Americans. Those for whom business provides jobs, constitute a fairly obvious class. But the 20 million stockholders—most of whom are of modest means—are the real owners, the real entrepreneurs, the real capitalists under our system. They provide the capital which fuels the economic system which has produced the highest standard of living in all history. Yet, stockholders have been as ineffectual as business executives in promoting a genuine understanding of our system or in exercising political influence.”
The Influence of the Stockholder - Twenty million voters are stockholders, Powell says. These people can be a powerful force for pro-business change, if educated and mobilized. Individual corporations can reach out to their stockholders through their stock reports and news publications.
A New Aggression - Corporate interests must, Powell says, “attack [those] who openly seek destruction of the system. There should not be the slightest hesitation to press vigorously in all political arenas for support of the enterprise system. Nor should there be reluctance to penalize politically those who oppose it.” The AFL-CIO labor union is a past master of using this kind of political pressure, Powell writes. Its practices and techniques can be adapted to serve business ends.
Relationship to Freedom - All of this must be characterized as an essential “return” to the fundamental tenets of American freedom, Powell writes. “The threat to the enterprise system is not merely a matter of economics. It also is a threat to individual freedom. It is this great truth—now so submerged by the rhetoric of the New Left and of many liberals—that must be re-affirmed if this program is to be meaningful. There seems to be little awareness that the only alternatives to free enterprise are varying degrees of bureaucratic regulation of individual freedom—ranging from that under moderate socialism to the iron heel of the leftist or rightist dictatorship.” America is well on its way to institutionalized socialism, Powell warns. It is up to American business interests to counter that shift. (Powell 8/23/1971)
Effects - Powell’s memo triggers a seismic shift in the way business and corporate interests function, though the Chamber of Commerce proceeds more cautiously than Powell may hope. As a result of Powell’s memo and other influences, the Chamber, wealthy businessmen such as beer magnate Joseph Coors and Richard Mellon Scaife, and an array of corporate activists create, among other entities: the Heritage Foundation, the Manhattan Institute, the Cato Institute, Citizens for a Sound Economy, the Analysis and Research Association (ARA), Accuracy in Academe, the Pacific Legal Foundation, and other powerful organizations. When Ronald Reagan takes the presidency in 1981, they will begin to solidfy and extend the reach of their efforts. In 2002, progressive journalist Jerry Landay will write that Powell’s memo will spawn “a well-paid activist apparatus of idea merchants and marketeers—scholars, writers, journalists, publishers, and critics—to sell policies whose intent was to ratchet wealth upward. They have intimidated the mainstream media, and filled the vacuum with editors, columnists, talk-show hosts, and pundits who have turned conservatism into a career tool. They have waged a culture war to reduce the rich social heritage of liberalism to a pejorative. And they have propagated a mythic set of faux-economic values that have largely served those who financed the movement in the first place.” Landay calls Powell’s language and proposals “baldly militant” with “authoritarian overtones.”
Powell Joins Supreme Court - In January 1972, Powell will join the Supreme Court, where he will become regarded as a moderate-to-conservative justice, sympathetic to business interests but not unwilling to consider other points of view. (Though the press will subsequently publish leaked copies of the memo, no senator will ask Powell about his memo or his business interests in his confirmation hearings.) One of his most pro-business decisions is his majority opinion in 1978’s First National Bank of Boston v. Bellotti, in which Powell will create a First Amendment “right” for corporations to influence ballot questions. (Landay 8/20/2002; Reclaim Democracy 4/3/2004)
A group of hardline Cold Warriors and neoconservatives revive the once-influential Committee on the Present Danger (CPD) in order to promote their anti-Soviet, pro-military agenda. The CPD is an outgrowth of the Coalition for a Democratic Majority (CDM), itself a loose amalgamation of neoconservatives and Democratic hawks.
Confederation of Establishment Conservatives, Neoconservatives, and Hawkish Democrats - The CPD is led by Eugene Rostow, the head of the CDM’s foreign policy task force. Others include CIA spymaster William Casey; iconic Cold War figure and “Team B” member Paul Nitze (see January 1976 and Late November, 1976); established neoconservatives such as Norman Podhoretz and Team B leader Richard Pipes (see Early 1976); rising neoconservative stars like Jeane Kirkpatrick, Midge Decter, Donald Brennan, and Richard Perle; conservative Democrats such as Nitze and former Secretary of State Dean Rusk; established Republicans such as House representative Claire Booth Luce (R-CT), David Packard, Nixon’s deputy secretary of defense, Andrew Goodpaster, Eisenhower’s National Security Adviser, millionaire Richard Mellon Scaife; and famed military officers such as Admiral Elmo Zumwalt. (Unger 2007, pp. 58-59; Scoblic 2008, pp. 99-100)
No 'Realists' - Author Craig Unger will write: “Ultimately, in the CPD, one could see the emerging fault lines in the Republican Party, the ideological divide that separated hardline neocons and Cold Warriors from the more moderate, pragmatic realists—i.e. practitioners of realpolitik such as Henry Kissinger, Brent Scowcroft, George H. W. Bush, and James Baker. All of the latter were conspicuously absent from the CPD roll call.” (Unger 2007, pp. 58-59)
Advocates US First Strike against USSR - Like the CDM and Team B, the CPD believes that the entire concept of detente with the Soviet Union is an abject failure, and the only way to deal with the ravenously hegemonical USSR is through armed confrontation. Like Team B (see November 1976), the CPD insists, without proof, that the USSR has made far greater strides in increasing the size and striking power of its nuclear arsenal; and like Team B, no amount of debunking using factual information stops the CPD from making its assertions (see November 1976). The US must drastically increase its stockpile of nuclear and conventional weapons, it maintains, and also be prepared to launch a nuclear first strike in order to stop the USSR from doing the same. In April 1977, the CPD evokes the familiar neoconservative specter of appeasement by writing, “The Soviet military build-up of all its armed forces over the past quarter century is, in part, reminiscent of Nazi Germany’s rearmament in the 1930s.” Author J. Peter Scoblic will observe, “The CPD saw itself as a collection of [Winston] Churchills facing a country of [Neville] Chamberlains.” In 1978, the CPD predicts, “The early 1980s threaten to be a period of Soviet strategic nuclear superiority in which America’s second-strike capability will become vulnerable to a Soviet pre-emptive attack without further improvements in US weapons.” (Unger 2007, pp. 58-59; Scoblic 2008, pp. 99-100)
Spreading Propaganda - According to a 2004 BBC documentary, the CPD will produce documentaries, publications, and provide guests for national talk shows and news reports, all designed to spread fear and encourage increases in defense spending, especially, as author Thom Hartmann will write, “for sophisticated weapons systems offered by the defense contractors for whom neocons would later become lobbyists.” (Hartmann 12/7/2004; BBC 1/14/2005)
Authors David Horowitz and Richard Poe publish a book titled The Shadow Party: How George Soros, Hillary Clinton, and Sixties Radicals Seized Control of the Democratic Party, that purports to prove Jewish billionaire George Soros, who finances progressive and Democratic Party causes, is in reality a Nazi collaborator and anti-Semite. However, the book is riddled with doctored quotes, misinformation, factual errors, and outright lies. Progressive media watchdog Web site Media Matters notes that the book relies on long-discredited accusations from the authors’ “Front Page Magazine” Web site, from their articles on conservative Web publications such as WorldNetDaily and NewsMax, and on unsourced allegations from political extremist Lyndon LaRouche and his followers, who have called Soros a “Nazi beast-man” and a “small cog in Adolf Eichmann’s killing machine,” aiding “the Holocaust against 500,000 Hungarian Jews.” Media Matters calls the book “a new low in the long-running Republican Party and conservative movement campaign of scurrilous personal attacks against Soros, a major supporter of progressive causes in the US and abroad.” The organization also notes that the Web sites used in the book’s research are largely funded by conservative billionaire Richard Mellon Scaife, and Scaife-owned newspapers such as the Pittsburgh Tribune-Review have promoted the book. Media Matters documents numerous issues of doctored quotes and falsified claims in the book. (Media Matters 8/2/2006)
Liberal author and columnist Joe Conason says that conservatives accusing Minnesota Senate candidate Al Franken (D-MN) of stealing the election from opponent Norm Coleman (R-MN) should show genuine evidence of voter fraud “or shut up.” Franken was recently declared the winner of the US Senate race by a narrow margin of votes (see January 5, 2009). Conason cites a raft of radio and television talk show hosts such as Bill O’Reilly and Rush Limbaugh, and conservative billionaires such as Richard Mellon Scaife, who have been “scream[ing] that Franken is stealing, rigging, pilfering, scamming, thieving, and cheating his way to victory” without advancing any proof, and “in plain contradiction of the available facts.” Conason writes, “Not only is there no evidence that Franken or his campaign ‘cheated’ in any way during the election or the recount, but there is ample reason to believe that the entire process was fair, balanced, and free from partisan taint.” Conason cites claims by Limbaugh on January 5 that Franken “stole the race,” and quotes Limbaugh as saying on that same broadcast: “They are stealing the race up there blind in front of everybody’s nose. They are counting absentee ballots [which election officials are required to do by law].… They’re counting votes twice—votes that were rejected, all kinds of things [which election officials ordered after determining that some votes were rejected wrongly]. That’s just—the Democrats are stealing the election up there.” (The material in brackets is inserted by Conason.) Conason goes on to quote Republican political consultant Dick Morris, who appeared on O’Reilly’s show on January 7 and claimed: “I think there’s funny business—funny business going on in Franken’s thing. Sure, he’s cheating, and sure that Minnesota’s doing it for him. I mean, there’s no question that there’s cheating going on.… This is outright larceny. This is just a total theft.” Conason calls Morris’s accusations “incendiary,” and notes that like Limbaugh, Morris advanced no evidence to support his claims. As for O’Reilly, he has written columns on Newsmax asking readers to donate to the Republican National Lawyers Association to “stop Franken from stealing the election”; that organization is raising money to assist in Coleman’s election lawsuit (see January 7, 2009). Conason writes that the Canvassing Board, the bipartisan entity that decided the race in Franken’s favor, was “impeccably nonpartisan,” and continues, “Nobody in their right mind in Minnesota believes that the board was biased.” He cites conservative blogger Scott Johnson as saying: “There was no noticeable partisan division among the board. Minnesotans are justifiably proud of the transparency and fairness of their work.” Conason concludes: “In essence, [the right-wing pundits] have accused my friend Franken of a felony under Minnesota law. If they know of any evidence that would show he has stolen votes or violated any election statute, let them report it to the state law enforcement authorities. And if they don’t, perhaps they will at last have the decency to shut up.” (Conason 1/9/2009)
Investigative journalist Robert Parry speaks at a conference in Heidelberg, Germany concerning the progression of journalism from the 1970s to the present. Parry tells the gathering that American investigative journalism may have hit something of a zenith in the 1970s, with the media exposure of the Pentagon Papers (see March 1971) and the Watergate scandal (see August 8, 1974). “That was a time when US journalism perhaps was at its best, far from perfect, but doing what the Founders had in mind when they afforded special protections to the American press,” he says. “In the 1970s, besides the Pentagon Papers and Watergate, there were other important press disclosures, like the My Lai massacre story and the CIA abuses—from Iran to Guatemala, from Cuba to Chile. For people around the world, American journalism was the gold standard. Granted, that was never the full picture. There were shortcomings even in the 1970s. You also could argue that the US news media’s performance then was exceptional mostly in contrast to its failures during the Cold War, when reporters tended to be stenographers to power, going along to get along, including early in the Vietnam War.” However, those days are long past, Parry notes, and in recent years, American journalism has, he says, gone “terribly wrong.” Parry says that the American press was subjected to an orchestrated program of propaganda and manipulation on a par with what the CIA did in many foreign countries: “Think how the CIA would target a country with the goal of shoring up a wealthy oligarchy. The agency might begin by taking over influential media outlets or starting its own. It would identify useful friends and isolate troublesome enemies. It would organize pro-oligarchy political groups. It would finance agit-prop specialists skilled at undermining and discrediting perceived enemies. If the project were successful, you would expect the oligarchy to consolidate its power, to get laws written in its favor. And eventually the winners would take a larger share of the nation’s wealth. And what we saw in the late 1970s and early 1980s in the United States was something like the behavior of an embattled oligarchy. Nixon’s embittered allies and the Right behaved as if they were following a CIA script. They built fronts; they took over and opened new media outlets; they spread propaganda; they discredited people who got in the way; ultimately, they consolidated power; they changed laws in their favor; and—over the course of several decades—they made themselves even richer, indeed a lot richer, and that, in turn, has translated into even more power.”
Building a Base - Right-wing billionaires such as the Koch brothers (see 1979-1980) and Richard Mellon Scaife, along with Nixon-era figures such as former Treasury Secretary William Simon (a Wall Street investment banker who ran the right-wing Olin Foundation) worked to organize conservative foundations; their money went into funding what Parry calls “right-wing media… right-wing think tanks… [and] right-wing attack groups. Some of these attack groups were set up to go after troublesome reporters.” Parry finds it ironic, in light of the CIA’s interference in the affairs of other nations, that two foreign media moguls, Sun Myung Moon and Rupert Murdoch, were key figures in building and financing this conservative media construct. Some media outlets, such as Fox News (see Summer 1970 and October 7, 1996), were created from scratch, while others, such as the venerable and formerly liberal New Republic, were bought out and taken over by conservatives. When Ronald Reagan ascended to the White House, Parry says, he brought along with him “a gifted team of [public relations] and ad men.” Vice President George H.W. Bush, a former CIA director, enabled access to that agency’s propaganda professionals. And Reagan named William Casey to head the CIA; Casey, a former Nixon administration official, was “obsessed [with] the importance of deception and propaganda,” Parry says. “Casey understood that he who controlled the flow of information had a decisive advantage in any conflict.”
Two-Pronged Attack - Two key sources of information for Washington media insiders were targeted, Parry says: the “fiercely independent” CIA analytical division, whose analyses had so often proven damaging to White House plans when reported, and the “unruly” Washington press corps. Casey targeted the CIA analysts, placing his young assistant, Robert Gates, in charge of the analytical division; Gates’s reorganization drove many troublesome analysts into early retirement, to be replaced with more malleable analysts who would echo the White House’s hard line against “Soviet expansionism.” Another Casey crony, Walter Raymond Jr., worked to corral the Washington press corps from his position on the National Security Council. Raymond headed an interagency task force that ostensibly spread “good news” about American policies in the foreign press, but in reality worked to smear and besmirch American journalists who the White House found troubling. According to Parry, “Secret government documents that later emerged in the Iran-Contra scandal revealed that Raymond’s team worked aggressively and systematically to lobby news executives and turn them against their reporters when the reporters dug up information that clashed with Reagan’s propaganda, especially in hot spots like Central America.” It was easy to discredit female journalists in Central America, Parry says; Raymond’s team would spread rumors that they were secretly having sexual liaisons with Communist officials. Other reporters were dismissed as “liberals,” a label that many news executives were eager to avoid. Working through the news executives was remarkably successful, Parry says, and it was not long before many Washington reporters were either brought to heel or marginalized.
'Perception Management' - Reagan’s team called its domestic propaganda scheme “perception management.” Parry says: “The idea was that if you could manage how the American people perceived events abroad, you could not only insure their continued support of the foreign policy, but in making the people more compliant domestically. A frightened population is much easier to control. Thus, if you could manage the information flows inside the government and inside the Washington press corps, you could be more confident that there would be no more Vietnam-style protests. No more Pentagon Papers. No more My Lai massacre disclosures. No more Watergates.” The New York Times and Washington Post, the newspapers that had led the surge of investigative reporting in the 1970s, were effectively muzzled during the Reagan era; Parry says that the two papers “became more solicitous to the Establishment than they were committed to the quality journalism that had contributed to the upheavals of the 1960s and 1970s.” The same happened at the Associated Press (AP), where Parry had attempted, with limited success, to dig into the Reagan administration’s Central American policies, policies that would eventually crystallize into the Iran-Contra scandal (see May 5, 1987). Few newspapers followed the lead of AP reporters such as Parry and Brian Barger until late 1986, when the Hasenfus air crash provided a news story that editors could no longer ignore (see October 5, 1986). But, Parry says, by the time of the Iran-Contra hearings, few news providers, including the Associated Press, had the stomach for another scandal that might result in another impeachment, particularly in light of the relentless pressure coming from the Reagan administration and its proxies. By June 1990, Parry says he understood “the concept of ‘perception management’ had carried the day in Washington, with remarkably little resistance from the Washington press corps.… Washington journalists had reverted to their pre-Vietnam, pre-Watergate inability to penetrate important government secrets in a significant way.” The process accelerated after 9/11, Parry says: “[M]any journalists reverted back their earlier roles as stenographers to power. They also became cheerleaders for a misguided war in Iraq. Indeed, you can track the arc of modern American journalism from its apex at the Pentagon Papers and Watergate curving downward to that center point of Iran-Contra before reaching the nadir of Bush’s war in Iraq. Journalists found it hard even to challenge Bush when he was telling obvious lies. For instance, in June 2003, as the search for WMD came up empty, Bush began to tell reporters that he had no choice but to invade because Saddam Hussein had refused to let UN inspectors in. Though everyone knew that Hussein had let the inspectors in and that it was Bush who had forced them to leave in March 2003, not a single reporter confronted Bush on this lie, which he repeated again and again right through his exit interviews in 2008” (see November 2002-March 2003, November 25, 2002, December 2, 2002, December 5, 2002, January 9, 2003, March 7, 2003, and March 17, 2003).
The Wikileaks Era and the 'Fawning Corporate Media' - Parry says that now, the tough-minded independent media has been all but supplanted by what former CIA analyst Ray McGovern calls the “Fawning Corporate Media.” This has increased public distrust of the media, which has led to people seeking alternative investigative and reporting methods. Parry comments that much of the real investigative journalism happening now is the product of non-professionals working outside the traditional media structure, such as Wikileaks (see February 15, 2007, 2008, and April 18, 2009). However, the independent media have not demonstrated they can reach the level of influence of institutions like the Washington Post and the New York Times. “[I]f we were assessing how well the post-Watergate CIA-style covert operation worked,” Parry says, “we’d have to conclude that it was remarkably successful. Even after George W. Bush took the United States to war in Iraq under false pretenses and even after he authorized the torture of detainees in the ‘war on terror,’ no one involved in those decisions has faced any accountability at all. When high-flying Wall Street bankers brought the world’s economy to its knees with risky gambles in 2008, Western governments used trillions of dollars in public moneys to bail the bankers out. But not one senior banker faced prosecution.… Another measure of how the post-Watergate counteroffensive succeeded would be to note how very well America’s oligarchy had done financially in the past few decades. Not only has political power been concentrated in their hands, but the country’s wealth, too.… So, a sad but—I think—fair conclusion would be that at least for the time being, perception management has won out over truth. But the struggle over information and democracy has entered another new and unpredictable phase.” (Parry 5/15/2012)
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