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 Palast.com
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.