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Gershom Gorenberg reports on a new case before the Isreali Supreme Court that could limit settlements:
The photo, taken from the air, shows the red roofs of the houses of Ofrah, one of the best-known Israeli settlements in the West Bank. Between the existing houses one can make out the shells of nine new homes under construction. Computer-overlaid thin green lines show the division of the land on which the settlement sits -- parcels owned by Palestinian residents of the nearby village of Ein Yabrud. The photo is Exhibit A in a lawsuit filed earlier this month by five residents of Ein Yabrud, with the backing of two Israeli human-rights groups. The residents are asking Israel's Supreme Court for an order to demolish the homes being built on their land.And Dean Baker has the latest on our troubled economy:
The New York Times does the numbers and determines that almost half of the record profits earned by the Wall Street banks in the 2004-2007 boom have already disappeared in debts gone bad . My guess is that we will see a big bite out of the other half in the months ahead.We know that the top executives at these banks pulled in tens of millions or even hundreds of millions of dollars of compensation based on what we now know to be phony profits. In other words, these people got incredibly wealthy, not because they were skilled at finance, but rather because they were skilled at manipulating financial statements.
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--The Editors
