Eliot Spitzer Wants Back In the Game And Deserves A Second Chance
I consider this a postitive development. Though tonight he is repudiating the story first reported in the Page Six column of the New York Post, Spitzer's denial is to be expected either way. It's too early to declare for the 2010 race, his true intent notwithstanding,
Page Six reports that former New York governor Eliot Spitzer would like to be Attorney General of NY, a position he held for two terms before moving on to the Governor's mansion. Let me be one of the few so far to support former Governor Spitzer in his campaign trial balloon. Here's why.
Prostitution should probably be legal and regulated. His crime was against his wife and family and not the people of New York. He has already paid the substantial price of losing his job as well as the residual social embarrassment.
No one can deny that he gets a special kick from indicting financial giants. Talk to Hank Greenberg, longtime CEO of AIG as well as Henry Blodget. I think Frank Quattrone and Mary Meeker also might have a few thoughts on Eliot. Cuomo is the only prosecutor in the country doing anything substantial in terms of indictments of financial charlatans. He is exactly what we need to follow Cuomo.
His arrest was the result of a Karl Rove persecution over a charge Spitzer made aginst the Bush White House related to unfair lending practices by large banks.
Let us know if you would like to see Spizer back as Attorny General handing out indictments like candy to folks such as Joseph Cassano, Hank Paulson (a man can dream), Richard Fuld and Bob Lewis of AIG.
Spitzer: The Real AIG Scandal (Slate, March 17)
The Real AIG Scandal Continued: The Goldman Sachs connection (Slate, March 22)
bank bailouts, bailout, banks, financial crisis
Apr 15, 2009 at 1:35 AM
Reader Comments (23)
The central bank will probably increase disclosure on the collateral it holds against loans to financial firms, while also weighing a full range of options, including possible press conferences, according to people familiar with the matter.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aVtg1X1_ctPc&refer=home
Calpers, as the largest U.S. public pension manager is known, said today it’s setting aside “billions of dollars” amid the credit crunch and is ready to deploy capital. It added that there’s a “glimmer of hope” in the stock market.
http://www.bloomberg.com/apps/news?pid=20601087&sid=aZzTwlcyvQGE&refer=home
Regarding that Bloomberg article on the Fed, I think the Federal Reserve is in panic mode for perceived transparency and legitimacy because they know their days are numbered. Greenspan and Bernanke have accelerated this demise.
The general public isn't buying the BS anymore, even though many believe with the Federal attached to the name and a nice office in Washington that they are a government agency and with Reserve attached to the name that they have some kind of reserves. The Federal Reserve is no more part of the U.S. Federal Government than the Federal Express mail service. Likewise, many ignorant souls actually believe that Scientology's Oxford Capacity Analysis was developed by the University of Oxford. It is amazing what deceptive names can do for your business.
Additionally, the United States Bullion Depository is in no way connected to the Federal Reserve, nor can be it be considered reserves for their counterfeiting operation. Furthermore, the gold bullion in the Federal Reserve Bank of New York's vault are monetary reserves for foreign governments, central banks, and other international organizations. This gold does not belong to the Federal Reserve, though they do collect fees for its safekeeping. The Fed has no reserves other than guarantees on increasingly worthless US debt obligations.
Oh well, ramp up the spin machine and put those Iraqi Information Ministers in the line of Mohammed Saeed al-Sahhaf to work.
So when Goody-Goody-Eliot's secret life was revealed he had few friends who would quash the story or spin it into nothing.
Normally a Democrat Governor of NY would have automatically been supported by a wide array of powerful people and media. In a week the story would vanish and all would be well.
He should be able to resume political life it that is what he wants. He didn't commit an axe murder. I tend go easy on people who fess up like Eliot did. He said in effect "Yes I did it and it was a rotten thing to do."
Contrast that with the usual evasive, mealy-mouth, self-serving, half apology we so often hear.
If this experience has not made him a better man then nothing will.
Couldn't have said it better myself. You know something is up when a party goes out of its way to devour their own. Come to slick Willie's defense when he perjures himself, but crucify Spritzer even when he confesses. I think the shadows that be found Spitzer's weakness for exotic prostitutes and exploited it. The timing is suspect at the very least.
Any time you can come up with some juvenile wordplay involving someone's fanny, please, PLEASE post it. Right away. God knows we can use all the laughs we can get these days.
No offense. AB was referring to Barney Frank and Herb Moses.
A history of suspect campaign contributions, lax lending advocacy, obstruction of any additional banking regulation, and the general conflict of interest are repugnant. His repeated insistence that Fannie and Freddie were not in crisis like Lehman et al. is ridiculous at best.
To Franks's credit, he did oppose Gramm-Leach-Bliley, and there were precious few that did. That still doesn't excuse his culpability in the fraud committed and current bailouts. If he introduces a bill to dissolve the Fed, much can be forgiven.
http://www.govtrack.us/congress/vote.xpd?vote=h1999-570
However, Brown Brothers Harriman & Co. has taken a recent interest in Frank. Why would a front for funneling secret society men into politics want to bribe Frank now? Perhaps this is a ploy to get him to divorce from Ron Paul on criticism of the Fed.
http://www.opensecrets.org/politicians/summary.php?cycle=2008&type=C&cid=N00000275&newMem=N
http://www.time.com/time/magazine/article/0,9171,740853,00.html
Maybe they need some bailout money of their own to fund the current Bones legal battle. I am kidding of course.
http://www.nytimes.com/2009/02/20/us/20geronimo.html?_r=1&hp
I was afraid it was a Barney Frank reference, but didn't know all the background. Double kudos, AB. Also, very, very interesting re Ron Paul and the Fed. (That's one of the amazing things about Ron Paul - his ability to work with people like Barney Frank, even for limited ends, even when they reject so much of what he stands for.)
Has anyone been following progress on HR 1207 (to open the Fed to audit)?
Because he kept his socks on. He's classy that way.
Check out the LOC's Thomas archive for status on active bills: http://thomas.loc.gov/cgi-bin/bdquery/z?d111:h1207:
Unless you have contacts with one of the cosponsors staffs, I doubt you are going to hear much. It was referred to the House Committee on Financial Services a few weeks ago and is likely being discussed internally for the time being. This would be a tremendous win if it goes to vote and passes. However, knowing the filth any causal audit of the Pentagon has dug up, I have to ask, do we really want to know what kind of filth an audit of the Fed will dig up?
At the end of the day, Halliburton kept the billions in fraudulent charges and kept the contract. They remain "servicing" our DOD to this day. Most companies would have the contracts immeidately terminated, the offending party blackballed for life, and pursue damages and fines in court, usually in multiples of the fraudulent ammount. Not so with uncle Sam.
http://www.nytimes.com/2006/02/27/international/middleeast/27contract.html
http://www.huffingtonpost.com/paige-donner/the-pentagons-fifteen-bil_b_103784.html
Gates cut many problematic programs, but just as many remain. Why is this guy still in Obama's cabinet? Can someone please show this man the door or put your boot in his @$$? You should be ashamed Obama. As if bringing in a bunch of tax-evading financial pedophiles wasn't enough, you have truly turned the White House into a corporate whore house. :(
http://www.cnn.com/2008/POLITICS/04/01/pentagon.overspending/index.html
Recent Senate votes: http://www.senate.gov/pagelayout/legislative/a_three_sections_with_teasers/votes.htm
Recent House votes: http://clerk.house.gov/evs/2009/index.asp
Thomas has both but it sux as the data is mashed together in paragraph form: http://thomas.loc.gov/home/rollcallvotes.html
C'mon LOC interface design and usability guys! Somebody better fix this archive so average non-research PhD users can actually use it. It is an embarrassment.
http://www.youtube.com/watch?v=XD3k_FDYJss
This man deserves a Presidential Medal of Freedom (well maybe at least a beer if you see him). This was from the Katrina aftermath days, but congratulations are in order. I am petty sure he was in the When the Levees Broke Spike Lee documentary, but I can't remember for sure.