The awful truth about Eliot Spitzer is . . .
he was about to succeed in saving our economy and the homes of millions of mortgage holders when he was assassinated by the very criminals who have now looted the US treasury and saddled you and me with debts to foreign investors which neither we nor our children nor our grandchildren will live to pay down.
I can't tell the story any better than this video:
But I likewise can't neglect to include Spitzer's nearly year-old article:
washingtonpost.com > Columns
How the Bush Administration Stopped the States From Stepping In to Help Consumers
By Eliot Spitzer
Thursday, February 14, 2008; Page A25
Several years ago, state attorneys general and others involved in consumer protection began to notice a marked increase in a range of predatory lending practices by mortgage lenders. Some were misrepresenting the terms of loans, making loans without regard to consumers' ability to repay, making loans with deceptive "teaser" rates that later ballooned astronomically, packing loans with undisclosed charges and fees, or even paying illegal kickbacks. These and other practices, we noticed, were having a devastating effect on home buyers. In addition, the widespread nature of these practices, if left unchecked, threatened our financial markets.
[full article here]
Finally, I owe it to the reader to include this excellent and as usual insightful article by the unstoppable Greg Palast, and a podcast to boot:
The $200 billion bail-out for predator banks and Spitzer charges are intimately linked
By Greg Palast
March 14th, 2008
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.
[full article here]
Hear The Palast Report weekly on Air America Radio’s Clout.
Greg Palast Reads "Eliot's Mess" [12:04m]: Download
Greg Palast on Corporate Watch Radio [28:25m]: Download
Elliot Spizter Gets Nailed Pt 1 [17:04m]: Download
Elliot Spizter Gets Nailed Pt 2
Lastly, I owe you a link to the current scholarly footnoted article by Prof. Peter Dale Scott of UC Berkeley on GlobalResearch.ca (very likely the finest trove of reality anywhere) by means of which I became aware of these resources:
and the free podcast of his interview with the proprietor of that website and its founder (on Sept. 9, 2001!!), economics professor at Univ. of Ottowa Michel Chossudovsky.
— yours for a bleak future, unless we stand up as one in massive numbers —