ANOTHER DYNAMIC SHOW OF WEAKNESS – AT 10:37 A.M. ET:  The great Ed Lasky of American Thinker alerts us to a New York Times piece exposing the holes in American policy toward Iran:

The federal government has awarded more than $107 billion in contract payments, grants and other benefits over the past decade to foreign and multinational American companies while they were doing business in Iran, despite Washington’s efforts to discourage investment there, records show.

Here, blame must be directed at both the Bush and Obama administrations.

That includes nearly $15 billion paid to companies that defied American sanctions law by making large investments that helped Iran develop its vast oil and gas reserves.

For years, the United States has been pressing other nations to join its efforts to squeeze the Iranian economy, in hopes of reining in Tehran’s nuclear ambitions. Now, with the nuclear standoff hardening and Iran rebuffing American diplomatic outreach, the Obama administration is trying to win a tough new round of United Nations sanctions.

But a New York Times analysis of federal records, company reports and other documents shows that both the Obama and Bush administrations have sent mixed messages to the corporate world when it comes to doing business in Iran, rewarding companies whose commercial interests conflict with American security goals.

This is absolutely disgraceful, and cries out for a Congressional investigation.  But which liberal Democratic committee chairman will order such a probe?

Many of those companies are enmeshed in the most vital elements of Iran’s economy. More than two-thirds of the government money went to companies doing business in Iran’s energy industry — a huge source of revenue for the Iranian government and a stronghold of the increasingly powerful Islamic Revolutionary Guards Corps, a primary focus of the Obama administration’s proposed sanctions because it oversees Iran’s nuclear and missile programs.

COMMENT:  We recall that, before World War II, the United States sold scrap iron to Japan, despite overwhelming evidence of Japan's military buildup.  The scrap iron was returned to us in the form of warships, planes, artillery pieces and ammunition.

History doesn't repeat itself, but the psychology of history repeats itself.

March 7, 2010