Sunday, March 16, 2008

Spitzer In Your Eye

The $200 billion bail-out for predator banks and Spitzer charges are intimately linked.

By Greg Palast
Reporting for Air America Radio’s Clout

March 14th, 2008

Bernanke Explains why the 200 Billion is good for YOU

While New York Governor Eliot Spitzer was paying an ‘escort’ $4,300 in a hotel room in Washington, just down the road, George Bush’s new Federal Reserve Board Chairman, Ben Bernanke, was secretly handing over $200 billion in a tryst with mortgage bank industry speculators.

Both acts were wanton, wicked and lewd. But there’s a BIG difference. The Governor was using his own checkbook. Bush’s man Bernanke was using ours.

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, 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.

@ Greg


Put the coffee down, this is a rats nest of shenanigans like there has never been before.

Beyond comprehension of us 'little people' the BIG MONEY boys have been hard at work taking over and look what happens, we get screwed yet again.

Now don't get me wrong here, 'buyer beware' applies and a lot of folks got suckered by all the carrot dangling and the goal of something for nothing.

Well nothing is what they got.


Hajji said...

Hank Paulson is failing miserably at trying to explain why a "Taxpayer Bailout" of yet another self-imposed banking disaster is a good thing.



Hajji said...

sorry...on Stephanopolis.


DEN said...

Paulson on Stephanopolis, forclosures are 2% of the total mortgages *cough*.

"No government bailout for homeowners"


DEN said...

Why does Barack have to apologize for his preacher and McPain does not have renounce the full-blown idiot hagee?

still not impressed said...

Apologies in politics are a dime a dozen these days. I don't really care if Obama "apologizes" or not, since it wouldn't influenece my opinion of him, at this point.

But, for purely practical reasons, Obama has to "apologize" because he has based his candidacy on a message of unity. It's totally separate from John McCain's batshit crazy pastor. It's not tit for tat. Democrats are "supposed" to have higher standards.

Rev. Wright is not a unifying figure -- Obama was married by him, his daughters baptized by him, the title for his first book was provided by one of Wright's sermons. Wright was the "pastoral advisor" who convinced Obama to "come to Jesus" and join his congregation over 20 years ago (conveniently, when Obama was getting into politics -- can't be without a "church home" for godsakes if ya wanna be in politics in this almighty Christian nation!). Obama is obviously very close to the man.

When a presidential candidate's pastor yells "God damn America" (repeatedly) in his sermons and calls black Republicans "sellouts," likens Obama to Jesus, and claims the United States is under the influenece of the KKK, to remain viable as a figure of unity and hope, Obama should explain himself.

And, BTW, it would be the ultimate trickery, but if John McCain picked Condoleezza Rice as his running mate, the currently monolithic black voting bloc would be in a conundrum. Obama and his supporters would have one prop kicked out from under them -- it would be difficult to cry "racism" at every perceived slight.

DEN said...

Micki, watch the interview with Obama on Olbermann Friday.

David B. Benson said...

Well, I guess I'll go have Sunday brunch while I can still afford it...

carol said...

No one answered my query about Gerald. Guess I'm not surprised.

Oh, and there's another web link placed by a stranger at the end of the last thread.

David B. Benson said...

Before we get all excited by this or that about either of the candidates, we might reflect upon the life and career of

Franklin Delano Roosevelt

David B. Benson said...

Another sign:

Glaciers suffer record shrinkage

Hajji said...


Probably all that cold water...

Brrrr! MAJOR Shrinkage!


David B. Benson said...

Hajji --- Actualy, it's all that hot air!

Coming your way, big time, this time next year...

Hajji said...

Another year of drought and the puddles that our lakes have become will dry up completely!

They held the “Bass-Masters’Classic” fishing tournament here a few weeks ago. They had to pour tons of concrete, so that the boat-ramps would reach the water. Probably easier to catch fish when you just wade in after them!

The spring storms are helping a bit with at least making some of the streams and rivers navigable again, so our paddling hobby is safe, for now.

I’m not sure about the how the sequestering of most of the water that comes down off the Blue Ridge Escarpment in our lake system for both hydroelectric generation and cooling for the Oconee Nuke plant affects the overall picture.

The lakes, though, here at the top of the Savannah River watershed (Another place where much water is turned to steam and/or re-circulated, much warmer) are mostly about the recreation. Below Jocassee, the waters are almost completely encircled by housing developments and vacation homes. Sturdy docks have remained high and dry for several years now and folks who were counting on an economic windfall from the sale of such property are finding prices sharply lower because of the uncertainty of their “Lake-front” status.

While I’m all for non-fossil fueled power generation, I do wonder about the effects of sequestering all that water and speeding the evaporation of it.


Hajji said...

On a personal note, I've just been informed that Jill has recieved DMAT's "Volunteer of the Year" award for the Southeastern Region.

That 'Gal really knows how be where she's needed. Would that many more of us dedicate ourselves more fully to serving others.


David B. Benson said...

Hajji --- The global effects are non-existent. I'll rather naively opine that the regional effects are less than the so-called spread of the tropics, which is bringing you desertified conditions.

Which will only grow worse:

Joe Romm, Hell aand High Water

DEN said...

Congrats to Jill!

The world needs good people like her willing to give time to others and make the world a better place.

DEN said...

Will the last commenter please turn out the lights?

Thanks, the Managment

Alan said...

I'll hit the lights, but first I gotta do some more bragging. The Rockets hit 22 in a row today by beating the Lakers. The two teams were tied for the best record in the West, which means now the Rockets are ranked #1. When the streak started, they were ranked #6I think,. The winning streak is second in NBA history, only to the Lakers 33-game streak back in the 70's.

Carol, I was wondering about Gerald myself the other day. I don't always read his links, but you get used to seeing them, ya know? I didn't ask, but I noted when you did.

*hits light switch*
"night y'all"

Alan said...
This comment has been removed by the author.