1,600 new east J'lem homes okayed  ::  PA negotiator says Interior Ministry move "destroys" trust required for peace talks.  JerusalemPost

Israeli building could derail talks  ::  See Video Below  AlJazeera

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Must Read: 

Finance: An exposed position  ::  The story of how one village in particular – and Italian local authorities in general – ended up so high on derivatives that a former finance minister compared them to junkies is pertinent as scrutiny focuses on the use of complex financial instruments by states. FinancialTimes UK

The euro is under attack like never before, as the promises on which it was based turn out to be lies  :: The Fundamental Flaw of Europe's Common Currency  Spiegel

Taking a stand against underage drinking:  The Anheuser-Busch company is suing a firm that has been selling baby bottles designed to look like Budweiser and Miller Lite bottles. Trademark infringement is rarely this amusing.  Smoking Gun

Out in the World

Sources of tension between China and U.S  Reuters

Afghanistan Taliban 'using human shields'  ::  Taliban militants are increasingly using civilians as "human shields" as they battle against a joint Afghan-Nato offensive, an Afghan general has said.    BBC

Cuba's aid ignored by the media? ::  Public health experts say the Cubans were the first to set up medical facilities among the debris and to revamp hospitals immediately after the earthquake struck.  However, their pivotal work in the health sector has received scant media coverage.  AlJazeera

6 new suspects surface in Dubai terror case ::  The probe into the terror of a senior Hamas member Mahmoud al-Mabhouh enters a new phase as Dubai officials confirm that at least six other assassins remain unaccounted for. EmiratesTribune

Britain summons Israeli diplomat over Dubai killing   ::  Relations with Tel Aviv now in 'deep freeze', say British officials as passports row escalates UKGuardian

Facing up to China  ::  Making room for a new superpower should not be confused with giving way to it    Economist

Perspective :: Tangoing with the Taliban  ::  Despite the US military 'surge', Afghanistan is proving more challenging than Iraq.  Marwan Bishara, Al Jazeera's senior political analyst

Analysts defend China government's sanctioning of U.S. companies selling arms to Taiwan   ::  Chinese analysts justified the government's decision to sanction U.S. companies involved in a 6.4-billion-dollar arms sale package to Taiwan, saying the punishment is the "right thing to do" for China's core interests. China View Xinghua

China says RMB exchange rate "reasonable", dismisses U.S. criticism over trade  ::  China on Thursday dismissed the latest U.S. criticism on its trade surplus, saying its currency exchange rate is close to a reasonable level. China View Xinghua

The Man Who Launched the Burqa Debate  ::  For months the French have been embroiled in a public debate centered on their national identity and a possible ban on the burqa. Immigration Minister Éric Besson, a former Socialist, is the man behind the aggressive debate, making him one of France's most controversial politicians.  Spiegel

Blair admits Saddam threat was overstated  ::  Tony Blair opened himself up to a charge of misleading Parliament today when he told the Iraq inquiry that by any objective analysis the threat posed by Saddam Hussein's chemical and biological weapons programme had not increased after 9/11.   UKTimes

Haiti revival after quake could take generations says UN chief :: Bleak outlook for decades to come and fears of health calamity when rainy season starts in May Guardian

Pakistan lukewarm to US offer  ::  The U.S. announcement that it is considering providing Pakistan a dozen unmanned aerial vehicles for surveillance has received a less than warm reception here, with one report saying the military was unimpressed. Pakistan has for months been demanding that the U.S. must transfer to its military the drones themselves or the technology for these unmanned aircraft used by the CIA to bomb targets in the tribal areas.   TheHindu-India

Gates: Al-Qaeda has assembled a 'syndicate' of terror groups ::  NEW DELHI -- Defense Secretary Robert M. Gates said Wednesday that al-Qaeda was using proxy terrorist groups to orchestrate attacks  Washington Post

Islamic organization urges Muslims to help Haiti  ::  The Organization of the Islamic Conference (OIC) urged Islamic countries to extend aid to earthquake-devastated Haiti, which was struck again by a 6.1-magnitude on Wednesday as rescuers pulled more than 100 survivors from the rubble. AlArabiya

Full veil not welcome in France, says Sarkozy  ::  Nicolas Sarkozy last night threw his weight behind moves to ban the full Islamic veil in France, calling for an "unambiguous" parliamentary resolution against an item of clothing he said was "not welcome" in a country which valued sexual equality.   Guardian UK

Obama: Our expectations of Mideast progress were 'too high'  ::  Jerusalem Post

Opinion:  The peace process will resume, but why?    Jerusalem Post

Abbas to U.S.: Negotiate with Israel on our behalf  ::  Palestinian President Mahmoud Abbas has proposed that the Obama administration negotiate the final borders of a Palestinian state with Israel, a Palestinian official said Wednesday, as a U.S. envoy headed to the region for another attempt to restart Mideast peace talks.    Haaretz

Dutch government misrepresented case for Iraq war  ::  The Dutch government was less than truthful in presenting its case for the invasion of Iraq to parliament, a report released on Tuesday noted. NRC Handelsblad

Anti-sleaze symphony wins Ivo Josipovic election as president in Croatia  ::  The torrent of sleaze brought a backlash at the weekend when Ivo Josipovic, a classical music composer with scant political experience, easily won election as president, promising a cleaner Croatia. UKGuardian

Josipovic eyes swift EU accession for Croatia    :: Ivo Josipovic, Croatia’s president-elect, on Monday said he looked forward to taking the former Yugoslav republic of nearly 4.5m people into the European Union. FinancialTimes

Yemen says there are limits to its military cooperation with United States   Washington Post

Yemen's Most Wanted  ::  Meet the new al Qaeda bad guys that keep U.S. counterterrorism officials up at night.   Foreign Policy

Palestine: More process, less peace ::  Over the last few days, the Middle East has witnessed diplomatic activity unprecedented in recent months, even years, aimed at breaking the deadlock in the "peace process" and defusing growing regional frustration with the deteriorating situation in the Gaza Strip.  AlJazeera

'Israel will lose nerve-racking game'  ::Hamas source reportedly says group's position in Schalit talks is strong enough to justify its demands.  Jerusalem Post

Two arrested in suspected New York bomb plot  ::  Federal authorities arrested two men on Friday in connection with the case of an Afghan-born man accused of plotting a bombing attack in New York City on the anniversary of the Sept. 11 attacks. AlArabiya

Paris expels radical imam to Egypt after 'inciting violence' France has deported to Egypt a radical Imam who had been inciting his followers to rise up against the West.   France24

Politics such as they are . . .

Nearly 40 Percent of Stimulus Paid Out  ::  The Obama administration has paid out $309 billion of the nearly $800 billion stimulus, according to the latest figures available from Recovery.gov and the White House.  ProPublica

What's gone wrong in Washington?  ::American politics seems unusually bogged down at present. Blame Barack Obama more than the system  Economist

Clinton: U.S. has no plan to strike Iran over nuclear program  "   Obviously, we don't want Iran to become a nuclear weapons power, but we are not planning anything other than going for sanctions," Clinton told Al-Arabiya television.   Ha'arretz

Pakistani Scientist Found Guilty of Shootings    NYTimes

US verdict sparks Pakistan protests AlJazeera

Call to expedite Dr Aafia\'s repatriation  TheDawn-Pakistan

U.S. Examines Whether Blackwater Tried Bribery   ::  The Justice Department is investigating whether officials of Blackwater Worldwide tried to bribe Iraqi government officials in hopes of retaining the firm’s security work in Iraq after a deadly shooting episode in 2007, according to current and former government officials. NYTimes

CIA moonlights in corporate world  ::  In the midst of two wars and the fight against Al Qaeda, the CIA is offering operatives a chance to peddle their expertise to private companies on the side — a policy that gives financial firms and hedge funds access to the nation’s top-level intelligence talent, POLITICO has learned.

The Great Unalignment   ::  The crises that Bush bequeathed to Democrats have now officially become theirs, and the notion of a great liberal realignment seems as retro as Friendster.  NYTimesMagazine

OUCH, a Euro Perspective:  German commentators say it is the end of hope.::   The World Bids Farewell to Obama Spiegel

Public Agrees With Court: Campaign Money Is "Free Speech"  ::  But have mixed views on other issues at heart of new Supreme Court ruling  GallupOrganization

'I'm Scott Brown. I'm from Wrentham. I drive a truck'  ::  How the former Cosmopolitan centrefold became Ted Kennedy's Republican successor  UKGuardian

The Massachusetts shocker  :: The unstoppable truck  ::  How Scott Brown swept up the Bay State and stymied health reform in Washington, DC  Economist

The Left’s Circular Firing Squad  ::  NEWSWEEK's guide to Democratic recriminations: six different explanations for why Martha Coakley lost the Massachusetts Senate race.  Newsweek

SPIEGEL Interview with General Stanley McChrystal ::  'Killing the Enemy Is Not The Best Route to Success'  ::  General Stanley McChrystal, the top US and NATO commander in Afghanistan, talks to SPIEGEL about his new approach to the war, negotiations with the Taliban and the hunt for Osama bin Laden. Spiegel

How to read "Game Change"   ::  "Game Change" by Mark Halperin and John Heilemann offers more heat than light.  CSMonitor

'How Much Bush Is There in Obama?'  ::  President Barack Obama has slammed the "near-disastrous" intelligence failures surrounding an attempted Christmas Day terror attack on a Northwest Airlines jetliner. Looking beyond his tough rhetoric, German commentators scratch their heads and wonder if he is getting a bit too much like his predecessor.  Spiegel

(An important story that has slipped between the lines of mainstream US media)   Interpol Immunity :: Obama takes America down another notch with an unnecessary, reckless act.  National Review

Solving The Steele Mystery: Why Did He Cancel On ABC? ::  What the heck happened? In a case of what might be bad communication or could be trouble brewing for Republican National Committee Chairman Michael Steele, we delve into today's Steele Mystery.  TPM

Steele's Book Shocks GOP  ::  The release of Michael Steele’s book this week apparently came as a shock to Republican congressional leaders, who say they were never told about the book and had no input in its contents, having since been told they have “no control” over Steele’s controversial comments while promoting the book. Washington Post

Inside Obama’s War on Terrorism ::  The evening before he was sworn into office, Barack Obama stepped out of Blair House, the government residence where he was staying across from the White House, and climbed into an armored limousine for the ride to a bipartisan dinner. NYTimes Magazine

Obama Details New Policies in Response to Terror Threat  ::  President Obama ordered a series of steps to streamline how terrorism threats are pursued, after a review of the thwarted bombing revealed shortcomings.  NYTimes

Obama Administration Underestimated the Immediate Threat Posed by ‘Al Qaeda in the Arabian Peninsula’   ::   President Obama and his White House counterterrorism adviser on Thursday accepted responsibility for attempted terror attack on Christmas Day that could have knocked an airliner out of the sky over Michigan.  CNS News

Palin aide warned of 'epic debacle'    :: Sarah Palin’s charming opening debate line for now-Vice President Joe Biden — “Hey, can I call you Joe?” — was scripted after she repeatedly referred to him as “O’Biden” in preparation sessions, former McCain campaign senior adviser Steve Schmidt told “60 Minutes.”    Politico

Health Care

Was swine flu ever a real threat?  ::  With one scientist alleging a World Health Organization 'conspiracy' that was a bonanza for drug firms, Mark Honigsbaum asks if H1N1 could have been handled differently  Telegraph

Doubts cast on H1N1 scare ::  The severity of the H1N1 outbreakwas deliberately exaggerated by pharmaceutical companies that stood to make billions of dollars from a worldwide scare, a leading European health expert has claimed. AlJazeera

U.S. Trims Vaccine Order From CSL as Interest Wanes ::  The U.S. government wants less than half the swine flu vaccine it originally sought from CSL Ltd. joining countries such as France and Germany in canceling orders amid waning public concern about the influenza pandemic.   Bloomberg

Medicare and the Mayo Clinic ::  The famous hospital will no longer take some senior patients.   WSJ

AHA Supports Reconciled Healthcare Reform Bill, But with Caveats ::  As Congress starts its work on reconciling the two healthcare reform bills, the American Hospital Association (AHA) said in a letter to lawmakers Thursday that it "strongly supports" keeping the level of coverage proposed in the House bill—96% of all individuals legally residing in the U.S. (as opposed to 94% projected in the Senate bill).  HealthLeadersMedia

What Health Reform Means for  . . . .   ::  A ProPublica Overview  ProPublica

Stuff & Other Stuff

The many voices of the web  :: The internet: New combinations of human and computer translation are making web pages available in foreign languages  Economist

Genetic inferiority threatens mankind, professor says  ::  The human race is slowly becoming a mutant shadow of its former well-adapted self, says genetics professor Rolf Hoekstra. NRC Handelsbad Netherland

Veil can be lifted for ID check: Clerics  ::  MUMBAI: Muslim scholars and community leaders have urged the community not to oppose the Supreme Court ruling asking burqa-clad women to lift the \\ veil at the time of voting so that their identitites could be checked. Most Islamic scholars maintain that since face veil was not mandated by the Quran it should not be portrayed as a contravention of the scriptures. Times of India

Mobile-phone culture - The Apparatgeist calls  ::  How you use your mobile phone has long reflected where you live. But the spirit of the machines may be wiping away cultural differences  Economist

Watching TV Linked to Higher Risk of Death   WSJ

Economy

Obama aims lower for financial reform package  ::  The White House may be willing to compromise on creating a new consumer financial protection agency, as lawmakers debate watered-down alternatives to the administration proposal.    Washington Examiner

Financial Reform Endgame by Paul Krugman  : :  So here’s the situation. We’ve been through the second-worst financial crisis in the history of the world, and we’ve barely begun to recover: 29 million Americans either can’t find jobs or can’t find full-time work. Yet all momentum for serious banking reform has been lost. The question now seems to be whether we’ll get a watered-down bill or no bill at all. And I hate to say this, but the second option is starting to look preferable. NYTimes

Basically, It's Over  ::  A parable about how one nation came to financial ruin.  By Charles Munger ::  Charles Thomas Munger is the partner and vice-chairman of Warren Buffett's Berkshire Hathaway Corporation. Slate

Warren Buffet's Annual Letter to Shareholders  BerkshireHathaway.com

Moody’s warns US of credit rating fears  ::  Moody’s Investors Service fired off a warning on Wednesday that the triple A sovereign credit rating of the US would come under pressure unless economic growth was more robust than expected or tougher actions were taken to tackle the country’s budget deficit. FTimes

Germany to Buy Stolen Swiss Bank Data, Schaeuble Says  ::  German Finance Minister Wolfgang Schaeuble said in a newspaper interview that Germany will buy stolen information on Swiss bank accounts, backed by a poll showing voter support for the move if it helps fight tax fraud. Bloomberg

Paul Volker, Financial Reforms, A Framework for Financial Stability Group of 30 Recommendations Working Group on Financial Reforms

Statement of Volker summarizing Financial Reforms to Senate Banking Committee.  USSenate Banking Comm.

Roubini Sees ‘Dismal’ Growth as Summers Rues ‘Human Recession’ :: Nouriel Roubini, the New York University professor who anticipated the financial crisis, said the U.S. growth outlook remains “very dismal” and White House economic adviser Lawrence Summers said the economy is still mired in a “human recession.” Bloomberg

European Parliament to Reject Bank Data Agreement with US   ::  The European Parliament is likely to spike a deal which would allow US terrorism investigators access to European bank transfer data. Privacy advocates oppose the deal and Germany's Federal Criminal Police Office says the data profiling is ineffective in counterterrorism efforts. Spiegel

Glass-Steagall lite ::  Barack Obama proposes limiting the activities of big banks Economist

New York Times to charge readers for online content  ::  America's most popular newspaper website today announced that the era of free online journalism is drawing to a close.  UKGuardian

Editor Note:  See some of our views on this here

Google sends a shockwave through Chinese internet  ::  Google has declared cyberwar on China, deploying the world's information against its repressive government  Guardian

Google's turbulent five years in China: a timelineTelegraph UK

Britain's recession the steepest for 88 years ::  Britain's economy fell last year at the sharpest rate since 1921, despite hopes that it finally emerged from recession in the last three months of the year, according to a respected economics forecaster. UKTimes

China's Aggressive Exports / Beijing Economic Policy Rocks the Global Boat  ::  In order to stimulate its economy, Beijing re-pegged its currency to the dollar. Doing so, however, has not only increased global economic imbalances -- it could ultimately harm China itself.  Spiegel

Bubbles and the Banks Opinion by Paul Krugman NYTimes

The $$$ Dialogue Taylor Disputes Bernanke on Bubble, Blaming Low Rates   BusinessWeek/Bloomberg old's record run: No end in sight  CNNMoney Is Ben Bernanke descended from the Bourbons? FinancialTimes UK

Walk Away From Your Mortgage!  NYTimes Magazine

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