GREG PALAST RUNS IT DOWN

28 03 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.

Who are they kidding? Spitzer’s lynching and the bankers’ enriching are intimately tied.

How? Follow the money.

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2 responses

28 03 2008
johnnypeepers

We are getting sold down the river big time. This back-room Big Bankster deal makes the creature from Jekyll Island look like a two-bit mosquito. The sub-prime crash was engineered to usher in the new FED superpowers. The Fiat empire is running roughshod over our economic future. Who is paying attention though?

28 03 2008
brothermartin

I’m starting to think a lot of people are paying attention, actually…and I know time is not on the big boys’ side…that’s why they’re getting so dumb and desperate….hang in there!

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