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I don't believe there was ever a single Al Queda. From my reading of the gov's 9/11 report, the thing was too loose even to call it a confederation.
Al queda was and is truly, "the base". It is that which all radical Islamic terrorists hold in common. It is not a single organized entity with a heirarchy that can be disassembled. Rather, it is an information and resource sharing network, largely funded by Bin Laden originally but also funded through front organizations.
For these reasons, Bin laden is important as a symbol to us and to his confreres, but he is not a keystone without which Al Queda will collapse. The genius of Al Queda is this: It is not intended to ever be a government. It has no goals other than to rid Islamic lands of infidels and create a world safe for a peculiar brand of Islam to thrive and expand. By any means necessary. Since it is stateless and has no political ambition, it requires little to no infrastructure or bureaucracy.
So to that degree, I agree with Brian. No American administration since Al Queda started targeting western interests has been able to destroy it. Clinton's admin degraded it in some areas but generally lacked the political will and Congressional interest in pursuing Al Queda. The same was true of Bush right up until 9/11. The attacks of 9/11 allowed the politico/military leadership in the USA and allied nations to focus attention on Al Queda and the result has been serious, worldwide dissolution of what previously had been growing cells. At this time no cells are growing.
But like Brian said, they are patient. They will survive the current assault even if we keep pressuring them for decades and kill all of the top leadership. Because the Al Quedistas recognize that they are in a multigenerational conflict and that God is on their side. They view western civilization as just another crusade to defeat in the name of Islam.
But degrading them does allow us (the world) to work on the other side of our strategy--modernization and democratization of the Islamic world. People who are free to choose their own destiny are far less likely to feel powerlessness against The Great Satan.
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