No Banker Left Behind
Terri Whitehouse March 15th, 2008
There is an excellent post on Greg Palast’s blog linking the Eliot Spitzer scandal with the recent bailout of Bear Stearns:
It was the night of February 13 when Spitzer made the bone-headed choice to order take-out in his Washington Hotel room. He had just finished signing these words for the Washington Post about predatory loans:
“Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye.”
Bush, Spitzer said right in the headline, was the “Predator Lenders’ Partner in Crime.” The President, said Spitzer, was a fugitive from justice. And Spitzer was in Washington to launch a campaign to take on the Bush regime and the biggest financial powers on the planet.
Spitzer wrote, “When history tells the story of the subprime lending crisis and recounts its devastating effects on the lives of so many innocent homeowners the Bush administration will not be judged favorably.”
But now, the Administration can rest assured that this love story – of Bush and his bankers - will not be told by history at all – now that the Sheriff of Wall Street has fallen on his own gun.
It looks like Gov. Spitzer wasn’t the only one getting screwed.
(h/t: Crooks and Liars)
- Bailouts , Coporate Greed , Corruption , Countrywide , Daddy State , Economy , Free Market Cure , GOP , George W. Bush , Money-Grubbing , Obstructionism , Recession 2008
- Comments(8)
It ain’t normal for the FBI to becopme involved in chasing hookers. Seems like they are abusing FISA for political gain.
BTW: Let’s not forget Ken Lucas (R) and his part in protecting ‘payday lenders’.
While the American news media was obsessing over Spitzer’s sex life, Mitch tried to kill Social Security again.
From: http://thebridge.typepad.com/thebridge/
Washington D.C. – Americans United for Change, the group best know for leading the successful fight to defeat President Bush’s misguided effort to privatize Social Security in 2005, sharply rebuked Sen. Mitch McConnell for voting for an amendment to the FY 2009 Budget put forward by U.S. Sen. Jim DeMint (R-SC) that would have funneled surplus Social Security funds into risky private accounts rather than keeping it in the Social Security trust fund. The amendment failed Thursday night by a 41-57 margin.
Correction: above post should read
Geoff Davis (R) Ky and his part in protecting ‘payday lenders’(not Ken Lucas(DINO)).
2 things:
1. Be nice to Ken please, We need to supply as well as advertise the big tent.
2. Eliot was a victim of his own behavior. That said, he should not have used such exotic methodologies to cover his financial tracks. The Fed Bank in NYC caught his money management using procs designed by Eliot himself. When he realized he had an infatuation for ’strange’, he should have had a conference with Silda and sought counselling. He’s actually smart enough to figure this out for himself. I don’t think that he’s going to be convicted of anything. None of the ‘evidence’ currently on display is covered by a warrant. No warrant, no admissability.
Yes, Eliot was the loosest cannon on the political deck of the ship of state. He was wealthy and never hesitated to bite the hand that illegitimately fed the mouths of his contemporaries. He was as popular as a turd in a punchbowl.
It’s a sad day with Spitzer gone from the top in NY and Richardson relegated to NM.
Has anyone out there been able to find out if Edwards’ $400 haircut was a misplaced decimal point?
that’s what I pay down at the barber college in Lexington - $4.00 not $400 - get the picture?
BimBette calls …
The sub prime issue is not entirely sub prime. A and Alt A loans, which are fully qualifying loans, bore the same predatory characteristics.
From politicalbase comes this excellent explanation, titled America, The Pimped Out Culture
http://www.politicalbase.com/profile/rhadamanthine/blog/&page=2
Asian stock market open everything down it’s Monday their. dollar still falling Gold up $1024. oz,going to be another bad day for the US stock market
BimBeau,
Ya know, Spitzer may be a scumbag hypocrite, but I do not give a flying fig who Spitzer slept with, as long as it was not a small child. Our Moral values are not to be forced on others.
I do give a shit that our government has abused the power of the FBI, once again, for political gain. NONE of our bank records, phone records, or E-mail, should be subject to this kind of abuse, including yours.
As for Ken, if he and Bruce are last best hope for democratic big tent, we have no hope.
one thing about it, he wasn’t wearing a diaper, in a airport bathroom,are with a page!!
he did do the right thing and resign