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

[SHRED]

---

While the mainstream media focuses on if his wife should have "stood by her man" at the press briefing, rambles on incessintly about how much the hooker charged, and shows the hooker pictures and look into her life ...meanwhile...

---


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.

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.

MORE:
http://www.gregpalast.com/elliot-spitzer-gets-nailed/#more-1979

---

[sallyseven]

1. Now we know the reason he got caught.

Way to go FBI. But the crooks are all in the banking and mortgage industry. In the Republican party and in the White House. I wish the FBI was in the business of protecting us and not the crooks in the Finance business.

[acmavm]

2. Oh they were gunning for him all right. And they knew their target.

Weak, amoral, no loyalty to his family, party, or position.

Spitzer deserves what he got and more.

[girl gone mad]

4. Absolutely.

I've had about all I can take of this "poor Spitzer" argument. Every Democrat, particularly the outspoken ones, have to be aware that they will be targeted by the right. Aren't we also constantly on the lookout for Republicans participating in criminal and scandalous activities? Pity if we aren't as aggressive.

If Spitzer had kept his dick dry, he wouldn't be in this mess. End of story.

[realFedUp]

3. Too bad mainstream media won't tell the whole story

snippet...

"A note on “Prosecutorial Indiscretion.”

Back in the day when I was an investigator of racketeers for government, the federal prosecutor I was assisting was deciding whether to launch a case based on his negotiations for airtime with 60 Minutes. I’m not allowed to tell you the prosecutor’s name, but I want to mention he was recently seen shouting, “Florida is Rudi country! Florida is Rudi country!”

Not all crimes lead to federal bust or even public exposure. It’s up to something called “prosecutorial discretion.”

Funny thing, this ‘discretion.’ For example, Senator David Vitter, Republican of Louisiana, paid Washington DC prostitutes to put him diapers (ewww!), yet the Senator was not exposed by the US prosecutors busting the pimp-ring that pampered him.
Naming and shaming and ruining Spitzer – rarely done in these cases - was made at the ‘discretion’ of Bush’s Justice Department.

Or maybe we should say, 'indiscretion.'

from http://www.gregpalast.com/elliot-spitzer-gets-nailed/#more-1979