Eliot Spitzer is a hero of mine

Eliot Spitzer is a hero of mine: He is a public witness to the establishment’s principle agency in creating the financial collapse.

Back in February last year, he wrote in a US national paper about how Bush caused the housing collapse:

“Predatory Lenders’ Partner in Crime: How the Bush Administration Stopped the States From Stepping In to Help Consumers”

Next month, Bush had him busted for hiring Ashley Alexandra Dupré, a wannabe-pop-star prostitute.

Ashley Alexandra Dupré

Greg Palast wrote it up on his blog pretty well at the time.

So I’m very happy Spitzer has kept up writing dissident articles, like this one:

The Real AIG Scandal: It’s not the bonuses. It’s that AIG’s counterparties are getting paid back in full.

This latest article “speaks volumes about what is going on, and indirectly, if you follow the money, what happened to him. … What was all that bailout money for? Apparently to make sure that no one at Goldman or the other few top firms in the hand-out-line lost anything.”

The AIG bailout’s counterparties were paid because of the ‘sanctity of contract,’ but one of the conditions of the car bailout was that those employees’ contracts were ripped up, and their wages cut. “The question arises: are contracts with blue-collar workers less binding than those with highly-paid derivatives traders?”

(This soundbite from that article is tight: “[This is] the American dream in reverse. First they lose their jobs, then their health insurance, then their homes, then their hopes.”)

Over in Latvia, you get the secret police round for talking about the reality of the economic collapse. Since the UK has some really nice anti-terrorism laws, I wonder how long it will be until the same happens here.

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The Eliot Spitzer is a hero of mine by David Crossland, except the quotations and unless otherwise expressly stated, is licensed under a Creative Commons Attribution-Share Alike 3.0 Unported License.

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