Elliot Spitzer, like so many other politicians frequents prostitutes, not all of them have such a spectacular fall from grace. Thinking of the guy with the diaper! This news story from BBC journalist Greg Palast certainly lends an interesting angle as to why him and why now?
The $200 billion bail-out for predator banks and Spitzer charges are intimately linked
While was paying an "escort" $4,300 in a hotel room in , just down the road, 's new Federal Reserve Board Chairman, , 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: .
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