Palast links the timing of Spitzer's demise and revelation of his call girl 'use' to the bailout of investment banks, and the fact that Spitzer was going after shady dealings of these same banks around the sub prime mortgage fiasco.
Eliot's Mess
This week, Bernanke’s Fed, for the first time in its history, loaned a selected coterie of banks one-fifth of a trillion dollars to guarantee these banks’ mortgage-backed junk bonds. The deluge of public loot was an eye-popping windfall to the very banking predators who have brought two million families to the brink of foreclosure.
Up until Wednesday (March 12), there was one single, lonely politician who stood in the way of this creepy little assignation at the bankers’ bordello: Eliot Spitzer.
Who are they kidding? Spitzer’s lynching and the bankers’ enriching are intimately tied.
How? Follow the money.
1 comment:
I would tend to agree with you on his not realizing that he was in it way over his head. He might have thought that the governorship was his security, that he had reached a rung on the ladder that made him invulnerable.
Nixon probably thought the same thing. Bush actually is at that top rung, he is invulnerable to being dethroned.
All you have to do is actually look at what Bush has done and see how the media keeps throwing him lifeboat after lifeboat, its amazing. The Bush family can do anything. That's how it works.
Yea, Spitzer's head swelled. The thing that Palast indicates if true, is that Spitzer had the goods on some of these big time CEO's and
financial banks who cooked up the sub prime formulas.
These guys are way too sharp. They played their hand like complete experts. They expose Spitzer and use his whoring around to cover over their amazing corporate welfare bailout of Bear Sterns and other places as well. They totally turned the tables and we pay the price. We get to pay for the investment banks sub prime dalliance, anyhow.
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