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IPS Writers in the Blogosphere » Connie Bruck https://www.ips.org/blog/ips Turning the World Downside Up Tue, 26 May 2020 22:12:16 +0000 en-US hourly 1 http://wordpress.org/?v=3.5.1 Ex-IAEA Chief Warns on Using Unverified Intel to Pressure Iran https://www.ips.org/blog/ips/ex-iaea-chief-warns-on-using-unverified-intel-to-pressure-iran/ https://www.ips.org/blog/ips/ex-iaea-chief-warns-on-using-unverified-intel-to-pressure-iran/#comments Fri, 19 Dec 2014 19:48:28 +0000 Gareth Porter http://www.lobelog.com/?p=27452 via Lobelog

by Gareth Porter

In a critique of the handling of the Iran file by the International Atomic Energy Agency, former IAEA Director General Han Blix has called for greater skepticism about the intelligence documents and reports alleging Iranian nuclear weapons work and warned that they may be used to put diplomatic pressure on Tehran.

In an interview with this writer in his Stockholm apartment late last month, Blix, who headed the IAEA from 1981 to 1997, also criticized the language repeated by the IAEA under its current director general, Yukiya Amano, suggesting that Iran is still under suspicion of undeclared nuclear activity.

Blix, who clashed with US officials when he was head of the United Nations Monitoring, Verification and Inspection Commission (UNMOVIC) on weapons of mass destruction in Iraq from 2000 to 2003, said he has long been skeptical of intelligence that has been used to accuse Iraq and Iran of having active nuclear-weapons programs. “I’ve often said you have as much disinformation as information” on alleged weaponization efforts in those countries, Blix said.

Hans_Blix

Former IAEA Director General Hans Blix. Credit: Mikael Sjöberg

Referring to the allegations of past Iranian nuclear weapons research that have been published in IAEA reports, Blix said, “Something that worries me is that these accusations that come from foreign intelligence agencies can be utilized by states to keep Iran under suspicion.”

Such allegations, according to Blix, “can be employed as a tactic to keep the state in a suspect light—to keep Iran on the run.” The IAEA, he said, “should be cautious and not allow itself to be drawn into such a tactic.”

Blix warned that compromising the independence of the IAEA by pushing it to embrace unverified intelligence was not in the true interests of those providing the intelligence.

The IAEA Member States providing the intelligence papers to the IAEA “have a long-term interest in an international service that seeks to be independent,” said Blix. “In the Security Council they can pursue their own interest, but the [IAEA] dossier has to be as objective as possible.”

In 2005, the George W. Bush administration gave the IAEA a large cache of documents purporting to derive from a covert Iranian nuclear weapons research and development program from 2001 to 2003. Israel provided a series of documents and intelligence reports on alleged Iranian nuclear weapons work in 2008 and 2009.

Blix’s successor as IAEA director general, Mohamed ElBaradei, recalled in his 2011 memoirs having doubts about the authenticity of both sets of intelligence documents. ElBaradei resisted pressure from the United States and its European allies in 2009 to publish an “annex” to a regular IAEA report based on those unverified documents.

But Amano agreed to do so, and the annex on “possible military dimensions” of the Iranian nuclear program was published in November 2011. During the current negotiations with Iran, the P5+1 (US, UK, Russia, China, France plus Germany) has taken the position that Iran must explain the intelligence documents and reports described in the annex.

The provenance of the largest part of the intelligence documents—the so-called “laptop documents”—was an unresolved question for years after they were first reported in 2004 and 2005. But former senior German foreign office official Karsten Voigt confirmed in 2013 that the Iranian exile opposition group, the Mujahedeen E-Khalq (MEK), gave the original set of documents to the German intelligence service (BND) in 2004. The MEK has been reported by Seymour Hersh, Connie Bruck, and a popular history of the Mossad’s covert operations to have been a client of Israel’s foreign intelligence agency, the Mossad, serving to “launder” intelligence that Mossad did not want to have attributed to Israel.

Blix has been joined by two other former senior IAEA officials in criticizing the agency for its uncritical presentation of the intelligence documents cited in the November 2011 annex. Robert Kelley, the head of the Iraq team under both Blix and ElBaradei, and Tariq Rauf, the former head of the Agency’s Verification and Security Policy Coordination Office, have written that the annex employed “exaggeration, innuendo and careful choice of words” in presenting intelligence information from an unidentified Member State of the IAEA on the alleged cylinder at the Parchin military facility.

Blix said he is “critical” of the IAEA for the boilerplate language used in its reports on Iran that the Agency is “not in a position to provide credible assurances about the absence of undeclared nuclear material and activities….”

Blix added that it is “erroneous” to suggest that the IAEA would be able to provide such assurances if Iran or any other state were more cooperative. As head of UNMOVIC, Blix recalled, “I was always clear that there could always be small things in a big geographical area that can be hidden, and you can never guarantee completely that there are no undeclared activities.”

“In Iraq we didn’t maintain there was nothing,” he said. “We said we had made 700 inspections at 500 sites and we had not seen anything.”

Blix emphasized that he was not questioning the importance of maximizing inspections, or of Iran’s ratification of the Additional Protocol. “I think the more inspections you can perform the smaller the residue of uncertainty,” he said.

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More Smears, and Support, for Hagel https://www.ips.org/blog/ips/more-smears-and-support-for-hagel/ https://www.ips.org/blog/ips/more-smears-and-support-for-hagel/#comments Thu, 27 Dec 2012 21:03:09 +0000 Jasmin Ramsey http://www.ips.org/blog/ips/more-smears-and-support-for-hagel/ via Lobe Log

The fight over the possible nomination of Chuck Hagel as Secretary of Defense can be defined as a battle waged with smears from the one side, and thoughtful, evidence-backed arguments from the other.

Too simplistic to be true? Case in point. A few hours ago, Josh Block, a via Lobe Log

The fight over the possible nomination of Chuck Hagel as Secretary of Defense can be defined as a battle waged with smears from the one side, and thoughtful, evidence-backed arguments from the other.

Too simplistic to be true? Case in point. A few hours ago, Josh Block, a former spokesman for the American Israel Public Affairs Committee (AIPAC), tweeted this full-page ad from the New York Times this morning with the following message: “Found complete Log Cabin ad about #Hagel. Full page NYT today. Wow. If this now, what if later? pic.twitter.com/AqJ449zW“.

While the hottest issue over Hagel’s nomination has been his stance on Israel — which appears to be fully supportive, despite rampant claims to the contrary — so too has there been attention on his support for Gay rights. This ad, sponsored by Log Cabin Republicans, a Gay Conservative group that endorsed Romney over Obama, appears damning, but isn’t factual.

“…Chuck Hagel is pro-gay, pro-LGBT, pro-ending “don’t ask, don’t tell.” The only problem is that no one asked him his views lately — including the president of the Human Rights Campaign,” wrote Steve Clemons, the openly Gay Washington Editor at Large at The Atlantic, a week ago. He goes on:

…Hagel has lunch with Vice President Biden about once a week. They don’t tell others about it — but they are best friends. Hagel once donned a Joe Biden mask in the Senate Foreign Relations Committee on Halloween, wearing a T-shirt labeled “Vote for Me” — when Biden was getting ready (again) to run for president. When Biden opened the door on Meet the Press on gay marriage — saying that he had “absolutely no problem” with gay marriage — I’m guessing Biden and Hagel chatted about it. Biden doesn’t tolerate bigots or racists or people who are locked in anachronistic sensibilities, at least not on his own time. Hagel had evolved privately on these issues — but again, no one had asked him his views.

Perhaps the Log Cabin Republicans were unaware of Clemons article, or, maybe there’s more to that story. But other attacks against Hagel have been carefully crafted by groups and people who undoubtedly know what they’re doing. Groups like the neoconservative Emergency Committee for Israel, which is known for publishing patently dishonest attacks on President Obama, smear campaigns against its ideological opponents, and attempting to paint the Occupy Wall Street Protests as anti-Semitic.

Then there’s the other side. The side that has taken the time to carefully explain why the ferocious attacks on Hagel have not only been unfair, but untrue. “Hagel is a blunt-spoken, passionate internationalist who believes that it is important to talk to your enemies, and that war should be a last resort,” writes Connie Bruck of the New Yorker. A veteran investigative reporter who has broken some of the most important political stories of our time, Bruck doesn’t shy away from explaining what the fuss is really over:

From the moment Hagel’s name was leaked as a possible nominee for Secretary of Defense—in what was, apparently, a trial balloon floated by the Obama Administration—Hagel’s most vocal critics have been members of what can be called the Israel lobby. Their enmity for Hagel goes back to his two terms in the Senate. A committed supporter of Israel and, also, of a two-state solution between Israel and Palestine, Hagel did not make the obeisance to the lobby that the overwhelming majority of his Congressional colleagues do. And he further violated a taboo by talking about the lobby, and its power. In his 2008 book, “The Much Too Promised Land,” Aaron Miller interviewed Hagel, whom he described as “a strong supporter of Israel and a believer in shared values.” Miller also wrote, “Of all my conversations, the one with Hagel stands apart for its honesty and clarity.” He quoted Hagel saying that Congress “is an institution that does not inherently bring out a great deal of courage.” The American Israel Public Affairs Committee comes knocking with a pro-Israel letter, Hagel continued, and “then you’ll get eighty or ninety senators on it. I don’t think I’ve ever signed one of the letters”—because, he added, they were “stupid.” Hagel also said, “The Jewish lobby intimidates a lot of people up here,” but “I’m a United States senator. I’m not an Israeli senator.”

Perhaps most interesting is the so far limited, but growing pushback from Jewish commentators who are calling out right-wing and “extremist” Jewish groups for leading the attack-Hagel wagon. According to Bernard Avishai, an Israeli-American Professor and analyst:

…I think it is time to acknowledge, bluntly, that certain major Jewish organizations, indeed, the Conference of Presidents of Major Jewish Organizations—also, the ADL, AIPAC, the American Jewish Committee, political groups like the Republican Jewish Coalition, along with their various columnists, pundits, and list-serves—are among the most consistent purveyors of McCarthyite-style outrages in America today. Are there greater serial defamers of public officials in fake campaigns against defamation? Starting with Andrew Young and the late Charles Percy, and on to Chas Freeman and (now) Chuck Hagel, the game has been to keep Congresspeople and civil servants who might be skeptical of Israel’s occupation and apologetics in a posture that can only be called exaggerated tact.

And here’s James Besser, the Washington correspondent for The Jewish Week from 1987 to 2011, in the New York Times today:

Playing to the extremist fringe could produce short-term gains for pro-Israel groups by rallying the faithful and encouraging big contributions. But — as this year’s election and rising anti-gun sentiment demonstrates — it brings with it the risk of a popular backlash.

Support for the Jewish state remains strong among both parties on Capitol Hill and across the American electorate, and it won’t disappear anytime soon. But that support will wither if Aipac and other mainstream Jewish leaders don’t forcefully reject the zealots in their midst.

And, in the long run, that can only damage the interests of a vulnerable Israel.

photo credit: New America Foundation via photopin cc

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Why does Haim Saban prefer Obama over Romney? https://www.ips.org/blog/ips/why-does-haim-saban-prefer-obama-over-romney/ https://www.ips.org/blog/ips/why-does-haim-saban-prefer-obama-over-romney/#comments Wed, 05 Sep 2012 16:55:30 +0000 Jasmin Ramsey http://www.ips.org/blog/ips/why-does-haim-saban-prefer-obama-over-romney/ via Lobe Log

In 2004 Haim Saban told a New York Times reporter: “I’m a one-issue guy and my issue is Israel.” That’s only important because Saban is a billionaire media mogul and generous political campaign donor who has contributed to individuals and lobbying organizations. Saban’s desire to influence US [...]]]> via Lobe Log

In 2004 Haim Saban told a New York Times reporter: “I’m a one-issue guy and my issue is Israel.” That’s only important because Saban is a billionaire media mogul and generous political campaign donor who has contributed to individuals and lobbying organizations. Saban’s desire to influence US foreign policy on Israel has been no secret either. He made his views and objectives clear in two long articles in the New York Times and the New Yorker, even listing for Connie Bruck “three ways to be influential” in US politics: “make donations to political parties, establish think tanks, and control media outlets.” According to Bruck,  in “targeting media properties, Saban frankly acknowledges his political agenda” and “repeatedly” tried to buy the Los Angeles Times because he considered it pro-Palestinian. Saban’s donations to the prominent Brookings Institution also resulted in the Saban Center for Middle East Policy, which is frequently used as a resource by media professionals in search of expert quotables.

Bruck revealed in 2010 that Saban has maintained an enduring friendship with the Clintons and reportedly withheld from donating to Barak Obama’s 2008 presidential campaign after Obama failed to convince Saban that he would continue Clinton’s stated position on Israel and Iran:

For example, Saban continued, “Obama was asked the same question Hillary was asked—‘If Iran nukes Israel, what would be your reaction?’ Hillary said, ‘We will obliterate them.’ We . . . will . . . obliterate . . . them. Four words, it’s simple to understand. Obama said only three words. He would ‘take appropriate action.’ I don’t know what that means. A rogue state that is supporting killing our men and women in Iraq; that is a supporter of Hezbollah, which killed more Americans than any other terrorist organization; that is a supporter of Hamas, which shot twelve thousand rockets at Israel—that rogue state nukes a member of the United Nations, and we’re going to ‘take appropriate action’! ” His voice grew louder. “I need to understand what that means. So I had a list of questions like that. And Chicago”—Obama campaign headquarters—“could not organize that meeting. ‘Schedule, heavy schedule.’ I was ready and willing to be helpful, but ‘helpful’ is not to write a check for two thousand three hundred dollars. It’s to raise millions, which I am fully capable of doing. But Chicago wasn’t able to deliver the meeting, so I couldn’t get on board.”

But a little over 2 months before the 2012 presidential election, Saban explains in the Times that Mitt Romney’s unclear foreign policy simply doesn’t stand up to Obama’s firm support for Israel and that’s why he is endorsing and supporting the Obama campaign:

When he visited Israel as a candidate he saw firsthand how vulnerable Israeli villagers were to rocket attacks from Gaza. As president, he responded by providing full financing and technical assistance for Israel’s Iron Dome short-range anti-rocket defense system, which is now protecting those villagers. In July, he provided an additional $70 million to extend the Iron Dome system across southern Israel. That’s in addition to the $3 billion in annual military assistance to Israel that the president requests and that Congress routinely approves, assistance for which Prime Minister Benjamin Netanyahu has expressed deep personal appreciation.

When the first President Bush had disagreements with Israel over its settlement policy, he threatened to withhold loan guarantees from Israel. Mr. Obama has had his own disagreements with Mr. Netanyahu over the settlers but has never taken such a step. To the contrary, he has increased aid to Israel and given it access to the most advanced military equipment, including the latest fighter aircraft.

Ask any senior Israeli official involved in national security, and he will tell you that the strategic relationship between the United States and Israel has never been stronger than under President Obama. “I can hardly remember a better period of American support and backing, and Israeli cooperation and similar strategic understanding of events around us,” the defense minister, Ehud Barak, said last year, “than what we have right now.”

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Protocols of the Elders of Las Vegas https://www.ips.org/blog/ips/protocols-of-the-elders-of-las-vegas/ https://www.ips.org/blog/ips/protocols-of-the-elders-of-las-vegas/#comments Fri, 10 Aug 2012 15:15:03 +0000 Marsha B. Cohen http://www.ips.org/blog/ips/protocols-of-the-elders-of-las-vegas/ via Lobe Log

The Protocols of the Elders of Zion is probably the most notorious work of anti-Semitic propaganda ever written. First surfacing publicly in 1905 after several years in private circulation, the work was a fabricated transcript of a secret meeting of rabbis plotting to control the world, as Gary Saul [...]]]> via Lobe Log

The Protocols of the Elders of Zion is probably the most notorious work of anti-Semitic propaganda ever written. First surfacing publicly in 1905 after several years in private circulation, the work was a fabricated transcript of a secret meeting of rabbis plotting to control the world, as Gary Saul Morson explains. Its initial purpose appears to have been to blame the Jews of Russia for the radical activity that was beginning to shake the foundations of the Tsarist Russian Empire. Translated into English, French, German, Polish, Spanish and Arabic, its unfounded claim that a global Jewish conspiracy seeks to rule the world has shaped and seeped into anti-Semitic propaganda for over a century.

The Protocols of the Elder of Las Vegas, on the other hand, is a 21st century work in progress, and it is no hoax. It’s about a casino magnate with an estimated net worth of just under $25 billion (the seventh richest man in the United States) who decides to devote a small portion of his vast wealth to a neoconservative agenda determined to thwart negotiations between the Israeli government and the Palestinians; prevent the reelection of an incumbent U.S. president; engineer the destruction of political liberalism; and reshape the political environments of the U.S. and Israel by funding the election of politicians who serve his own corporate and ideological interests. Following is a rough draft of the plot line so far.

Chapter One: The Neoconservative

In April 2007, Sheldon and Miriam Adelson’s newly-established Adelson Family Foundation gives a $4.5 million three year grant to the Shalem Center in Jerusalem to establish the Adelson Institute for Strategic Studies to “explore topics ranging from democracy and security, to nationalism, terror and identity.” Heading the Adelson Institute is former Soviet dissident Natan (Anatoly) Sharansky, who, after arriving in Israel, became a nationalist hardliner. Named as Adelson Institute fellows are former Israel Defense Forces Chief of Staff Moshe Ya’alon (currently Israel’s Vice Prime Minister and Minister for Strategic Affairs); Yossi Klein Halevi (a contributing editor of The New Republic since 2008); Martin Kramer, an Middle East Studies professor and Washington Institute (WINEP) Fellow; and historian Michael Oren who became Israel’s Ambassador to the U.S. in 2008.

The Adelson Institute’s first project is a June 2007 conference on “Democracy & Security” in Prague. Its agenda is a melange of neoconservative talking points: support for the U.S. war in Iraq; demanding human rights for freedom fighters (as long as they are not Palestinian); celebrating Eastern European resistance to Soviet domination and Communism, which had culminated in the integration of most former Warsaw Pact countries into NATO and the EU; and defending Israel’s right to absolute sovereignty. As Jim Lobe astutely noted at the time, the conference constitutes “a kind of ‘Neo-Conservative International’ designed to rally support for ‘dissidents,’ primarily from the Islamic world, and give them hope that ‘regime change’ in their countries is possible much as it was in the former Soviet bloc almost 20 years ago.

Within this “Middle East as Eastern Europe” neoconservative paradigm, Iran is accorded the role of “evil empire” once reserved for the Soviet Union. Two months later, in August, Sheldon Adelson is among the major donors who establish Freedom’s Watch, an advocacy group whose supporters overlapped with or were closely tied to the Republican Jewish Coalition. Freedom’s Watch immediately launches a 5 week, $15 million media blitz supporting President George W. Bush’s “surge” strategy in Iraq. In October, Freedom’s Watch sponsors a private forum of 20 “experts” on radical Islam and Iran.

Chapter 2: Ready for Prime (Minister) Time Player

In August 2007, after a failed attempt to purchase the Israeli evening newspaper Maariv, Adelson launches an Israeli newspaper of his own, Israel Hayom (Israel Today) with a reported $180 million investment. Israel Hayom soon achieves wide circulation. Not only is it free, it also offers home delivery at no charge. For Adelson, Israel Hayom would be a tool with which to remove Prime Minister Ehud Olmert from office, and replace him with Benjamin Netanyahu.

Olmert resigns as Prime Minister on July 29, 2008 after being accused of corruption during his previous posts as cabinet minister and Jerusalem’s mayor. The charges included taking $150,000 in bribes from a U.S. businessman and defrauding Israeli charities by double-billing them for overseas fundraising trips. Israel Today regales its readers with sensationalist headlines and accounts of Olmert pocketing cash-stuffed envelopes and enjoying a lavish lifestyle in luxury hotels. Olmert insists he is innocent and will ultimately be vindicated.

In a CNN interview this past May, Olmert explains to Christiane Amanpour that he had been the victim of a right-wing conspiracy involving American millionaires determined to thwart his peacemaking efforts and destroy his political career:

“[Trying to make peace] was a killer for me,” he said. “I had to fight against superior powers, including millions and millions of dollars that were transferred from this country by figures in the extreme right-wing who tried to topple me. There is no question about it. I know the names of people who spent millions of dollars who tried to stop me. They wanted to prevent a government led by me from achieving peace.”

In July 2012, Olmert is acquitted of major corruption charges, but found guilty of a lesser charge of breaching the public trust. Olmert calls for an investigation of “right wing American Jews” who had used their money and influence to topple him from power. Former government Minister Haim Ramon tells Israel Radio:

American right-wing Jews who filed countless complaints against Olmert have to be investigated. They saw Olmert as the man who could deliver an agreement with the Palestinians. Consider what Olmert could have done had he remained prime minister for two more years instead of Netanyahu.

Adelson’s intransigence on the Palestinian issue also brings him into conflict with the American Israel Public Affairs Committee (AIPAC). Adelson has been underwriting the cost of trips to Israel for members of Congress — although only for Republicans sponsored by an AIPAC-affiliate — and contributed toward a luxurious new office building for AIPAC in Washington DC, according to  Connie Bruck in the New Yorker. Adelson is infuriated when he discovers that AIPAC is supporting a letter signed by 130 members of the House of Representatives that asks the Bush  administration to increase economic aid to the Palestinians, a measure also supported by the Israeli government.

Chapter 3: All the President’s Money?

In 2011, Adelson forges an alliance with Republican presidential candidate Newt Gingrich. Adelson and his wife contribute $10 million to Gingrich‘s Winning Our Future political action committee. Adelson’s cash enables Gingrich’s campaign to run ads vilifying rival Mitt Romney‘s record at Bain Capital. When Gingrich drops out of the GOP primary race, Adelson begins negotiations with Romney. In June, “a well-placed source in the Adelson camp with direct knowledge of the casino billionaire’s thinking” hints to Forbes‘  Steve Bertoni that Adelson might even be willing to make “limitless” donations to Romney’s campaign in order to prevent Barack Obama’s re-election.

“What scares me is the continuation of the socialist-style economy we’ve been experiencing for almost four years,” Adelson tells Bertoni in an interview. The man who amassed more wealth than anyone in the U.S. during the three and a half years Obama has been in office — $21.6 billion, which is about 90% of his current fortune — declares, “I believe that people will come to their senses and not extend the current Administration’s quest to socialize this country.”

Adelson has other items on his agenda besides putting the lid on creeping “socialism” in the U.S. During Romney’s Israel visit, Netanyahu gave Romney a letter signed by the heads of all non-Arab political parties in Israel requesting clemency for Jonathan Pollard, an American convicted of spying for Israel while employed by U.S. naval intelligence. Pollard was  sentenced to life in prison 27 years ago. All U.S. presidents including Obama have declined to free Pollard, who supporters say has served more time in prison than any other spy in U.S. history. An associate of Adelson’s, identified as a major Republican donor, tells the Daily Beast’s Eli Lake and Dan Ephron that Adelson is putting pressure on Romney to commit to freeing Pollard if he is elected. Romney’s response has been that he’ll have to wait until he is president and has access to top level national security files to make a decision about Pollard. That’s not the sort of answer Adelson likes to hear, so it’s being touted as evidence that Romney is a principled and independent thinker, not Adelson’s yes-man, despite the lure of massive cash infusions. According to Jonathan S. Tobin: ”The Romney campaign isn’t shy about making it clear that even the most beneficent contributor to the candidate’s coffers can expect nothing more than a civil hearing.”

“When Adelson was merely rich, he wrote checks for causes that he favored and for politicians whom he supported,” writes Connie Bruck. “Occasionally, he demanded to be heard. But he did not expect to play a significant role in U.S. foreign policy, or in Israel’s strategic decisions, or in the fate of a sitting Israeli Prime Minister. That was before he acquired many billions of dollars.”

Chapter 4: The Tycoon

Sheldon Adelson’s empire of shifting Sands was on the brink of bankruptcy in 2008. Now he is the 14th richest man in the world. ProPublica and Frontline have been co-publishing some in-depth reporting about Adelson’s business methods that may be under investigation, including “Inside the Investigation of Leading Republican Money Man Sheldon Adelson” and “New Questions about Sheldon Adelson’s Casino Operations in Macao.” Thomas B. Edsall also provides a detailed discussion of the business aspects behind Adelson’s success and questionable practices by which he may have attained it in the New York Times.

But could his obsession with politics be setting up Adelson for another downfall? Howard Stutz suggests in the Casino City Times that Adelson’s investors have reason to be concerned about the declining profitability and downgraded value of  shares in Adelson’s casino empire, while he lavishes his largesse on philanthropy and politicians:

A few days after Las Vegas Sands Corp. disappointed investors with quarterly earnings declines that sent the company’s share price tumbling and had analysts breaking out in a cold sweat, Chairman and CEO Sheldon Adelson jetted to Israel to watch presumptive Republican presidential nominee Mitt Romney deliver a speech in Jerusalem. “It was a great speech. Loved it,” Adelson told Bloomberg News.

In Israel, he was treated like a rock star. Adelson, 78, was swarmed by Israeli citizens, Romney donors, and the press as he slowly made his way to his wheelchair after the speech. Back in the U.S., Argus Research downgraded its view of Las Vegas Sands stock. The firm placed a Hold recommendation on the shares, a change from its previous Buy rating. The weaker outlook reflected Argus’ concerns that revenues and profits from Las Vegas Sands’ four Macau casino developments were in trouble. During the quarter, net income from Macau declined 40 percent. Argus said the Chinese economy seems to be slowing.

Analysts openly wonder if Adelson, Las Vegas Sands’ controlling stockholder with 57 percent of the outstanding shares, is being distracted from the casino operations by his bi-continental political endeavors. “With shares falling will Sheldon open his wallet for [Las Vegas Sands] or the GOP?” Stifel Nicolaus Capital Markets gaming analyst Steve Wieczynski asked at the top of a critical July 26 research report discussing the company’s quarterly results.

Chapter 5:  The Outcome

A New York Times editorial views Adelson as “the perfect illustration of the squalid state of political money, spending sums greater than any political donation in history to advance his personal, ideological and financial agenda, which is wildly at odds with the nation’s needs.”

The Protocols of this Elder of Las Vegas is no conspiratorial fabrication. That’s the bad news. The good news is that the last chapter has yet to be written. Will money ultimately decide the 2012 U.S. election? And if it does, will it be Sheldon Adelson’s?

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