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View Diary: Eliot Spitzer: Bush Shielded Subprime Lender's! (40 comments)

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  •  Had forgotten about this (12+ / 0-)

    They were investigating Spitzer for a reason.

    Which reminds me, the most ignored story of the last week is the progression of the DoJ attorney firing investigation...

    Maverick - a calf that has become separated from its mother. By convention, it can become the property of whichever lobbyist finds it first.

    by Minerva on Mon Oct 13, 2008 at 02:14:54 PM PDT

    •  The reason was a threat to Bush (6+ / 0-)

      He was ready to expose Bush, Wall Street, and Bernanke for their deplorable acts of greed.

      •  I agree that Eliot should be.... (2+ / 0-)
        Recommended by:
        Urtica dioica gracilis, eclecta

           thanked and supported for bringing this issue to light. However, it has been coming for over 35 years. Read the new book out by Kevin Phillips "Bad Money" and you can see the growth of derivatives began in 1972.
           This is a credit bubble and the sub-prime mortgage issues are only a subset of that issue. The growth in private debt in this nation is the cause of the bubble. Yes, Bush told us to go shop with the credit card in hand. Yes, the mortgage lenders allured weaker credit customers into signing the dotted line. Yes, under Bush they pushed back and stopped Spitzer's efforts to regulate in NY with the Controller of the Currency Office.
        Yes, Alan Greenspan pushed to keep credit rates low to keep us buying.
           The growth of credit in this nation should be condemned by Obama after the election. We must tighten our belts, regulate the financial industry, and maybe nationalize a few segments of the industry. In the end the growth was almost as large under Clinton as it was under Bush II. The difference was the tax cuts for the rich and the wars pushed the bubble to grow bigger.
           I hope that after the election, Eliot can be forgiven and move back into the public sector. I certainly would support him. His wife is a NC person and graduated just a couple of years ahead of my wife at Meredith in Raleigh.

        The human race is truly the highest species on earth. No other species can procreate with the female on top.

        by NC Dem on Mon Oct 13, 2008 at 03:05:05 PM PDT

        [ Parent ]

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