Why Wall Street & Co. Will Do Anything to Stop Eliot Spitzer from Championing the Public Interest

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http://www.alternet.org/economy/eliot-spitzer-comptroller-and-wall-street



Before Eliot Spitzer’s infamous resignation as governor of New York in March 2008, he was one of our fiercest champions against Wall Street corruption, in a state that had some of the toughest legislation for controlling the banks. It may not be a coincidence that the revelation of his indiscretions with a high-priced call girl came less than a month after he published a bold editorial in the Washington Post titled “ Predatory Lenders’ Partner in Crime: How the Bush Administration Stopped the States from Stepping in to Help Consumers.” The editorial exposed the collusion between the Treasury, the Federal Reserve and Wall Street in deregulating the banks in the guise of regulating them, by taking regulatory power away from the states. It was an issue of the federal government versus the states, with the Feds representing the banks and the states representing consumers.

Five years later, Spitzer has set out to take some of that local regulatory power back, in his run for New York City comptroller. Mounting the attack against him, however, are not just Wall Street banks but women’s groups opposed to this apparent endorsement of the exploitation of women. On August 17th, the New York Post endorsed Spitzer’s opponent and ran a scathing cover story attempting to embarrass Spitzer based on the single issue of his personal life.

Lynn Parramore, who considers herself a feminist, countered in an August 8th Huffington Post article that it is likely to be in the best interests of the very women who are opposing him to forgive and move on. His stand for women’s reproductive rights and other feminist issues is actually quite strong, and his role as Wall Street watchdog protected women from predatory financial practices. As New York Attorney General, he was known as the “Sheriff of Wall Street.” He is one of the few people with not only the insight and experience to expose Wall Street corruption but the courage to go after the perpetrators.

[rurallib]

1. As a big Spitzer fan in the hinterlands i say

off to the greatest page with you.

It is now 2013. So far how many Banksters have been charged with crimes for the near-depression they caused?

[90-percent]

2. Near depression?

This has been the worst recession since the great depression 80 years ago!

How about near Great Depression, as the economy is the worst it's been since the thirties?

Sorry to nit-pik, but this whole thing could have been greater than the Great Depression, especially if McCain or Romney had won!

As bad as things have become, it all could have been much much worse. The election of 2008 saved us, for a time.

-90% Jimmy

[rurallib]

3. you are 100% right Jimmy

i was searching for a word this morning and just didn't want to sound to agresive.

I think 'near total collapse' would have said it best.
Thanks for the correction, I appreciate it.

[90-percent]

4. I'm sorry i came off as critical

it's mostly because we as a country dodged a bullet that would have turned America into The Grapes of Wrath 2.0. Obama coming in rescued this country from the brink - tarp and the auto bailout and a few other economically wise things.

As opposed to fucking Romney who's dad was the ultimate car guy and he still advocated for killing Detroit! We are so fortunate the republicans ran a walking-talking-bona-fide member of the .01% richest cream of our society who was nothing more than a psychopathic vulture capitalist who gleefully ruined thousands of lives just to make the most money possible. HE could have still been stinking rich while leaving all those jobs in the US, but these greedy pricks want every last penny they can squeeze, human misery be damned!

Romney would have chosen to create another Great Depression if he thought it would make him and his cronies wealthier!

-jim

[rurallib]

5. Not at all. i put up weak tea and you called me on it

rightfully so.
I thank you.

[90-percent]

7. how about this

I was inspired by your post and I just wanted to take it to the next hyperbolic level?

the most correct term for our near depression is "the most magnificent economic cluster fuck of the 21st century."

no, thats not it, but i hope you get my point.

-jim

[rurallib]

9. pesce, jim Nice discussion

support those fast food workers!

[NightWatcher]

6. Imagine what might have been had he not fucked prostitutes

I'm dumbfounded how very public people continue to think that they can keep their actions secret. Was it hubris or was he naive? We've also got to acknowledge that what you do in your personal life can negate what good you do in your professional life.

He made enemies, so of course they were going to scrutinize him. Poor Elliot was his own worst enemy.

[geek tragedy]

10. Scott Stringer is a lifelong NYC'er with great progressive bona fides.

This position is a mere stepping stone for Spitzer, better that it go to someone who is interested in the actual job.