Saturday, March 15, 2008

Why Spitzer really went down

By Libby

Greg Palast has a theory that blessedly avoids the moral arguments about prostitution and its patrons. He notes the case broke just as Spitzer was ramping up his attacks on Bush and the malfesance of the financial corporations with their predatory lending practices.

It's working too. While the public feasts on suggestive photos of the sex industry pro, and endlessly speculates on what she might do to be worth $4,000 of Eliot Spitzer's own money, the Fed bailed out the bankers with $200 billion of your tax dollars. You think that money is going to save the homeowners? Think again.
When the housing bubble burst and the paint flaked off, investors were left with the poop and the bankers were left with bonuses. Countrywide’s top man, Angelo Mozilo, will ‘earn’ a $77 million buy-out bonus this year on top of the $656 million - over half a billion dollars – he pulled in from 1998 through 2007.
And the cretins are calling Kristen a whore? She earned her money honestly by providing a service that her client could afford. Meanwhile, our government prostitutes our economic security to the highest bidder and people called that good business up until just a few weeks ago. So Spitzer goes down for spending his own money to make himself feel good, while Angelo Mozila gets a free ride to the Cayman Islands on your money for turning his tricks that left millions of Americans feeling bad.

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