Why Spitzer was Bushwhacked

[Crazy Horse]

Ah............the Kaput primitive never fails

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=389x3031359

kpete  (1000+ posts)       Wed Mar-19-08 08:10 AM
Original message
Why Spitzer was Bushwhacked 
 Advertisements [?]Edited on Wed Mar-19-08 08:11 AM by kpete
Mar 20, 2008

Why Spitzer was Bushwhacked
By F William Engdahl

.........Spitzer was likely the target of a White House and Wall Street dirty tricks operation to silence one of the most dangerous and vocal critics of their handling of the current financial market crisis.

.......................

Why the attack now?

Spitzer had become increasingly public in blaming the Bush administration for the nation’s current financial and economic disaster. He testified in Washington in mid-February before the US House of Representatives Financial Services subcommittee on the problems in New York-based specialized insurance companies, known as "monoline" insurers. In a national CNBC TV interview the same day, he laid blame for the crisis and its broader economic fallout on the Bush administration.


That article, laying clear blame on the administration for the development of the subprime crisis, appeared the day after his ill-fated tryst with the prostitute at the Mayflower Hotel. Just a coincidence? Spitzer wrote, "In 2003, during the height of the predatory lending crisis, the OCC invoked a clause from the 1863 National Bank Act pre-empting all state predatory lending laws, thereby rendering them inoperative. The OCC also promulgated new rules that prevented states from enforcing any of their own consumer protection laws against national banks."

In his article, Spitzer charged, "Not only did the Bush administration do nothing to protect consumers, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye."

Bush, said Spitzer right in the headline, was the "predator lenders' partner in crime". The president, said Spitzer, was a fugitive from justice. And Spitzer was in Washington to launch a campaign to take on the Bush regime and the biggest financial powers on the planet. Spitzer wrote, "When history tells the story of the subprime lending crisis and recounts its devastating effects on the lives of so many innocent homeowners the Bush administration will not be judged favorably."

With that article, Spitzer may well have signed his own political death warrant.

F William Engdahl is author of the book Seeds of Destruction: The Hidden Agenda of Genetic Manipulation, about to be released by Global Research Publishing, and of A Century of War: Anglo-American Oil Politics and the New World Order, Pluto Press. He may be reached via his website, www.engdahl.oilgeopolitics.net .

(Copyright 2007 F William Engdahl.)


more at:
http://www.atimes.com/atimes/Global_Economy/JC20Dj04.ht...

 

MADem  (1000+ posts)      Wed Mar-19-08 08:15 AM
Response to Original message
1. He was 'bushwhacked' because he patronized prostitution services.
 Edited on Wed Mar-19-08 08:16 AM by MADem
Had he not done that, he'd still be governor.

Now, it's entirely probable that he was under a microscope, but anyone in public life is to some extent.

He gleefully took down elements in the very industry he patronized, so that makes him a bit of a hypocrite at a minimum.

There is, even if he was unfairly targeted, an element of "comeuppance" to it all.

 

Oh hell that's gonna leave a mark

DemoGreen (156 posts)      Wed Mar-19-08 08:21 AM
Response to Original message
2. 1st rec - Question is, have the Repukes wasted this mode...
 ... of "political take down" or "political assassination" (if being less charitable). That is, how many times can they go to the "oops we found a questionable transaction" well. And, which fellow Repuke will they sacrifice to keep the appearance of balance?

  What??????

willing dwarf (288 posts)      Wed Mar-19-08 08:21 AM
Response to Original message
3. Did he jump or was he pushed? 
 I wonder if his family was being threatened, and the prostitute scenario was an easy cover for getting out before something worse happened to his family. I may be the last fool standing, but I don't see Spitzer as the type to go for prostitutes etc. I think he got pushed into the whole thing, and had to make it kinky to be really repugnant-- clearly something like Craig's sex in a an airport with a stranger wasn't going to be enough to get him fired--

Ahem...............when was Craig having sex in a airport bathroom with a stranger???

Also intresting that a judge is dismissing other cases like Craigs.

Family being threatened my ass

[jukin]

Still kicking my ass that I did not buy tinfoil futures in November 2000.

[USA4ME]

Being in the biz, and I've got no problem with AG's going after predatory lenders because they give what is otherwise a good industry a black eye.  But it had nothing to do with Bush, that's the Dem vs. Republican politics in place because these same loans were being made in the 90's, it's just that they held up because the market was gaining value ahead of the bad loans.  Was he blaming Clinton for allowing bad loans to take place?  No.

Spitzer was a pain to the mortgage industry, but not because of predatory lending, he went after a lot of good things that were taking place.  He was casting nets and trying to place blame in areas of the industry that were not to blame.  He created in NY what has happened in a lot of States, and that is NY has made it virtually impossible to lend money to low-income borrowers because the risk of making one that goes bad is too great via the gov't regulations he was imposing.  NC has done the same thing in the past few years.

.