Former Shin Bet head Yaakov Peri and former Mossad chief Danny Yatom told the New York Times' Ethan Bronner that they and forty other former security establishment bigwigs (if one makes allowances for people like Yuval Rabin and Moshe Shahal) have come up with an Israeli Peace Initiative. To believe Peri, this initiative is timed to respond to developments in the Arab world and demonstrate to Arab democrats that Israel will take steps in their direction.
A quick Google check reveals that the initiative and the people behind it were already in place in November 2010 before the ferment in the Arab countries began and it was then billed as a response to the 2002 Saudi Peace Plan. The original progenitors were Yuval Rabin and Koby Huberman, a Tel Aviv businessman, who since 2008 have been playing with the idea of Israel making all sorts of concessions, but this time in return for "a real universal peace."
Peri recently registered for Kadima and Yatom was allied with Ehud Barak when, as Prime Minister, Barak tried to establish peace with Syria in return for surrendering the Golan, while similarly offering all of Judea and Samaria with land swaps.
The security figures backing the initiative are the usual suspects who made no secret of their extreme dovish tendencies. The one surprising name is Yehuda Ben Meir, a former champion of Judea and Samaria who began his leftward odyssey back in the 1970s when he abstained on the Camp David Agreement, effectively acquiescing to the destruction of the Jewish communities in the Sinai.
Yaakov Peri was a major cheerleader of the Oslo agreements and one of the iconic moments of the Oslo infatuation had Peri presenting a set of pearl handled pistols to Jibril Rajoub, the head of Yasser Arafat's Preventive Security Service. This was part and parcel of the idea that Israel could subcontract its security to the Arabs. Members of this security service and other Palestinian security organizations played a major role in the Second Intifada, a.k.a. the Oslo War, when they turned the weapons that Israel gave them against Israel's citizens.
The initiative is reminiscent of the Geneva Initiative, where Israeli leftists presumably reached an accord with their counterparts in the Palestinian civil society. Rabin and Huberman do not claim to have reached agreement when sounding out Arabs but have received "encouragement".
What makes things worse than Geneva is that the proposal also calls for the gradual surrender of the Golan Heights in return for security arrangements. The plan holds out hope for a joint response against mutual regional threats, presumably meaning that Syria would abandon Iran.
The Geneva initiative was credited with putting pressure on former Israeli Prime Minister Ariel Sharon to the point that he was willing to come up with his ill-fated Disengagement plan for Gaza and northern Samaria (although others speculate that the Sharon clan's legal difficulties may have had a role in the decision). In common with Geneva, the purpose is to put pressure on an elected Israeli government.