On the web: Bernanke’s reappointment, al-Megrahi’s release, foreign policy realism, the “perfect storm”, and more…

– With the news that President Obama has nominated Ben Bernanke for a second term, over at the New Republic Noam Scheiber assesses the merits of continuity at the Fed. Stephen Roach, meanwhile, examines the case against the incumbent chairman, arguing that Obama’s decision should open a “broader debate over the conduct and role of US monetary policy”.

– Taking us back to the depths of last September’s financial meltdown, Faisal Islam has some interesting insights into the collapse of Lehman Brothers as viewed from British shores.

– Elsewhere, debate continues apace about the rights and wrongs of releasing the Lockerbie bomber. Suggesting that “cock-up offers as convincing an explanation as conspiracy for the handling of Mr Megrahi’s release”, Philip Stephens argues that the decision highlights the “price of realism” in foreign policy.

– Speaking of which, in the latest edition of FP Magazine none other than Paul Wolfowitz assesses the realist credentials of President Obama; providing at once a telling insight into the mindset of a man at the heart of foreign policy making during the Bush years.

– Mark Easton’s BBC blog, meanwhile, takes a look at how the British government is looking to influence public behaviour in light of the Chief Scientist’s warning of a “perfect storm” of energy, food and water scarcity by 2030.

– Finally, as President Obama holidays on Martha’s Vineyard, the White House announces what he’ll be reading on the beach. Slate offers its take here.

Megrahi’s release: select your conspiracy theory now

As Abdelbaset al-Megrahi makes his way to the airport after his release from prison on compassionate grounds, you have a choice of two conspiracy theories about why he was allowed out.

Option 1: it was all about oil. Interesting fact: while Nigeria is the largest oil producer in Africa, Libya has the largest reserves.  You might therefore conclude that there’s plenty of exploration / production fun to be had there.  You might also observe that the Libyan Investment Corporation’s partner in this activity is, er, BP (see their annual review, p. 26).  Add in the reports that Peter Mandelson just happened to run into Colonel Gadaffi’s son in (where else) Corfu, and presto! Your conspiracy theory is ready to serve.

Option 2: Richard Ingrams, on the other hand, has an altogether different theory – and it goes like this:

The Justice Minister Jack Straw is old enough to know that we have a long and shameful tradition, where terrorism is concerned, of imprisoning the wrong people. And the notorious Irish cases in the 1970s and 80s wreaked havoc with the reputation of the police, the intelligence services and the judges.

The offence of which Megrahi was – almost certainly wrongly – convicted after a trial lasting six months before three distinguished Scottish judges was far more serious than anything the Guildford Four or the Birmingham Six were accused of doing. Resulting in the deaths of 280 innocent people, it was far and away the most serious act of terrorism in our history. So, what if Megrahi’s appeal succeeded and it was shown that yet again the security forces and the judges had got it wrong – and this at a time when the Government is trying to introduce more and more draconian measures to deal with the supposed threat of terrorism?

Opposition to giving the police yet more powers would inevitably be boosted and the awkward question would be raised – if not Megrahi then who did it? The official hope, now that Megrahi has applied to drop his appeal, is that we can finally draw a line under Lockerbie and move on.

Take your pick…

On the web: Libyan relations, FEMA’s new head, the power of communication, and Afghanistan past and present…

– With the fortieth anniversary of Muammar Qaddafi’s rule fast approaching, Chatham House’s Molly Tarhuni takes a look (pdf) at Libya’s gradual reemergence onto the international stage. Four decades on, she suggests, and the basis of Anglo-Libyan relations remains much the same however.

– Over at Atlantic Monthly, Amanda Ripley profiles Craig Fugate, the new head of FEMA and a man with “a reputation for telling it like it is”. “Already”, she suggests, “Fugate is factoring citizens into the agency’s models for catastrophic planning, thinking of them as rescuers and responders, not just victims”. Moreover, Ripley continues,

he has changed FEMA’s mission statement from the old, paternalistic (and fantastical) vow to ‘protect the Nation from all hazards’ to a more modest, collaborative pledge to ‘support our citizens and first responders to ensure that as a nation we work together’.

A far cry, it would seem, from Michael “Heckuva Job” Brown.

– Harvard academic Joseph Nye, meanwhile, explores the importance of good communication for effective leadership. Obama’s ability to convey a resonant narrative has succeeded in rebuilding some of the US’s soft power, he argues, though the jury is still out on whether actions can match the towering oratory.

– Elsewhere, Victor Sebestyen reflects on the Soviet experience in Afghanistan during the 1980s – “Defeat in the hills around Kabul”, he suggests, “led directly – and swiftly, within months – to the fall of the Berlin Wall”.

– Finally, fast-forward to next week’s Afghan elections and the NYT takes a look at the campaign of presidential hopeful Ashraf Ghani. Reuters has some of the key election details here. Stephen Colbert, meanwhile, jests with the “Ragin’ Cajun”, James Carville, former political consultant to Bill Clinton and who regular readers will know has been advising Ghani. Don’t miss the video.