Comments on: The $200 Billion Bail-out for Predator Banks and Spitzer Charges are Intimately Linked http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/ a radical newsletter in the struggle for peace and social justice Sun, 22 Nov 2009 13:03:40 -0800 http://wordpress.org/?v=2.8.4 hourly 1 By: societyfriend http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-28978 societyfriend Sun, 28 Sep 2008 22:01:15 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-28978 I find it curious that you left wing doubletalkers can't see what is going on. Dodd, Pelozzi, Reid et al are knee deep in the conspiracy with Fannie Mae. Obama's fingers are into ACORN. Your own people did it to you and want to blame Bush. You are now celebrating your success. I hope you sink along with the ship. Nobody is confused, just thoroughly disgusted Pelozzi, you are the pig! Society's Friend I find it curious that you left wing doubletalkers can’t see what is going on. Dodd, Pelozzi, Reid et al are knee deep in the conspiracy with Fannie Mae. Obama’s fingers are into ACORN. Your own people did it to you and want to blame Bush.

You are now celebrating your success. I hope you sink along with the ship. Nobody is confused, just thoroughly disgusted

Pelozzi, you are the pig!

Society’s Friend

]]> By: Max Shields http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16470 Max Shields Tue, 18 Mar 2008 14:10:38 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16470 Predatory lending is incidious, and coupled with wholesale mortage shuffling into the global market for high stakes speculation is the issue at hand, not whether some people are more easily hoodwinked when their desire for a house seems at last in their grasp. This does not excuse ignorance but relatively young families are easily enticed and frequently lack the life experience to see past the immediacy of a dreamed for home (not all fall into this category to be sure). The "ballooning" that will occur in the future is like our death, some day...who knows. But back here, to the "man" behind the curtain - there's the culprit. They who perpetrate the possible under the guise of qualified lenders with the "good housekeeping seal of approval". So, yea, we can blame the victims who are now shoved out on the street while the lenders go scott free and many will be bailed out...sounds like perfect justice to me....no? Spitzer never flinched from going after those with the wealth and power - at least I'm not aware of any. I can't speak for his governorship, but there's a reason why he was overwhelmingly voted into that position and it wasn't because he spewed words of "hope" and "oneness". Predatory lending is incidious, and coupled with wholesale mortage shuffling into the global market for high stakes speculation is the issue at hand, not whether some people are more easily hoodwinked when their desire for a house seems at last in their grasp.

This does not excuse ignorance but relatively young families are easily enticed and frequently lack the life experience to see past the immediacy of a dreamed for home (not all fall into this category to be sure). The “ballooning” that will occur in the future is like our death, some day…who knows.

But back here, to the “man” behind the curtain – there’s the culprit. They who perpetrate the possible under the guise of qualified lenders with the “good housekeeping seal of approval”. So, yea, we can blame the victims who are now shoved out on the street while the lenders go scott free and many will be bailed out…sounds like perfect justice to me….no?

Spitzer never flinched from going after those with the wealth and power – at least I’m not aware of any. I can’t speak for his governorship, but there’s a reason why he was overwhelmingly voted into that position and it wasn’t because he spewed words of “hope” and “oneness”.

]]> By: opeluboy http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16452 opeluboy Tue, 18 Mar 2008 00:23:22 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16452 I felt from the beginning that this whole Spitzer thing was just a distraction from more serious issues. Now I'm beginning to think the whole thing smells. We have a really fucked up country, ladies and gentlemen. Really fucked up. I felt from the beginning that this whole Spitzer thing was just a distraction from more serious issues. Now I’m beginning to think the whole thing smells. We have a really fucked up country, ladies and gentlemen. Really fucked up.

]]> By: anonymous http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16449 anonymous Mon, 17 Mar 2008 23:15:04 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16449 that the mud campaign was solely blown up to get him out was quite obvious to see, at least from europe where the only news were what he did before and what he was accused of then. in (the non-english part of) europe nobody really cares for someone else seeing prostitutes, that made it easy to see through it. that the mud campaign was solely blown up to get him out was quite obvious to see, at least from europe where the only news were what he did before and what he was accused of then.
in (the non-english part of) europe nobody really cares for someone else seeing prostitutes, that made it easy to see through it.

]]> By: HR http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16414 HR Mon, 17 Mar 2008 02:23:26 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16414 Yeah, I agree. I settled for a house I could afford rather than look for a loan I couldn't. Yeah, I agree. I settled for a house I could afford rather than look for a loan I couldn’t.

]]> By: TRM http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16409 TRM Mon, 17 Mar 2008 00:02:49 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16409 Not defending any bank or anything, but don't you think those 2 million people you mentioned being close to foreclosure are responsible for their circumstance? No one forced them to go into debt... c'mon... Not defending any bank or anything, but don’t you think those 2 million people you mentioned being close to foreclosure are responsible for their circumstance? No one forced them to go into debt… c’mon…

]]> By: HR http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16407 HR Sun, 16 Mar 2008 23:54:40 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16407 For what it's worth, I believe that New York will have a much better governor tomorrow than it does today. For what it’s worth, I believe that New York will have a much better governor tomorrow than it does today.

]]> By: synicab12 http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16403 synicab12 Sun, 16 Mar 2008 23:37:50 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16403 What baffles me is that how come a sophisticated person like Spitzer who was around a long time and know the ropes of how the sytem operates do something stupid like that. The stakes were very big and the risk was VERY possible that he would be exposed. Many people knew what was going on from the escort agancy and "Kristen" , his inner circle and the hotel personnel ..etc etc. Any one of them for the right price or motive would have talke. I am really baffled??!! What baffles me is that how come a sophisticated person like Spitzer
who was around a long time and know the ropes of how the sytem
operates do something stupid like that.
The stakes were very big and the risk was VERY possible that he would be exposed. Many people knew what was going on from the escort agancy and “Kristen” , his inner circle and the hotel personnel ..etc etc.
Any one of them for the right price or motive would have talke.
I am really baffled??!!

]]> By: Evie http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16402 Evie Sun, 16 Mar 2008 23:34:03 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16402 Perhaps not caring about the sexual exploits of the rich and powerful gives them faith, that they're not accountable for other immoral decisions they make. Such as playing around in countries where they shouldn't be in wars for profit - where instead of the high-priced hire by hour hooker they're just f*cking Pfc. Schmuck and we the sheeple, and a lot cheaper. Seems to me no matter what our "leaders" do - immoral war, adultery, blow jobs in the office - they know half their constituents will walk to the podium and stand by their side, with sad faces, like good little spouses. Perhaps not caring about the sexual exploits of the rich and powerful gives them faith, that they’re not accountable for other immoral decisions they make. Such as playing around in countries where they shouldn’t be in wars for profit – where instead of the high-priced hire by hour hooker they’re just f*cking Pfc. Schmuck and we the sheeple, and a lot cheaper.

Seems to me no matter what our “leaders” do – immoral war, adultery, blow jobs in the office – they know half their constituents will walk to the podium and stand by their side, with sad faces, like good little spouses.

]]> By: HR http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16401 HR Sun, 16 Mar 2008 23:08:17 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16401 Equating Spitzer's situation to Ward Churchill's and others who have broken no laws makes no sense whatever. Churchill did NOT violate the law, Spitzer has, based on his resignation speech. How you arrive at the conclusion that I hold the opinion that Spitzer fell on his own sword is beyond me. More like he tripped on his own inflated ego and fell on the sword of the legal system. He broke the law, and irrespective of our opinions on the rightness or wrongness of the particular law, it IS the law.. He got caught, irrespective of whether the investigation was politically motivated (and he's not claiming the charges are bogus, is he?). He's paid part of the price for that by resigning. Period. No amount of stating the obvious about our sick media or sick system of morals can change that. It's too damned bad, as I wrote in my original post that Spitzer, a man who knows how politics works, allowed his ego to override his good sense, knowing full well what lay in store, and knowing full well that his political enemies were watching his every move. Equating Spitzer’s situation to Ward Churchill’s and others who have broken no laws makes no sense whatever. Churchill did NOT violate the law, Spitzer has, based on his resignation speech. How you arrive at the conclusion that I hold the opinion that Spitzer fell on his own sword is beyond me. More like he tripped on his own inflated ego and fell on the sword of the legal system. He broke the law, and irrespective of our opinions on the rightness or wrongness of the particular law, it IS the law.. He got caught, irrespective of whether the investigation was politically motivated (and he’s not claiming the charges are bogus, is he?). He’s paid part of the price for that by resigning. Period. No amount of stating the obvious about our sick media or sick system of morals can change that.

It’s too damned bad, as I wrote in my original post that Spitzer, a man who knows how politics works, allowed his ego to override his good sense, knowing full well what lay in store, and knowing full well that his political enemies were watching his every move.

]]> By: rosemarie jackowski http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16398 rosemarie jackowski Sun, 16 Mar 2008 22:01:28 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16398 HR...Are you saying that Spitzer fell on his sword? He did - after the bureaucrats stuck it in his back. I don't care about the sex lives of those on the Right any more than I care about sexual escapades on the Left. I care about a Single Payer Health care system and the 18,000 who will die this year because they don't have it. I care about the 2 million we have slaughtered in Iraq since 1991. I care about the silencing of Ward Churchill, Jeremiah Wright, and many others. I care about too many other things to care about who is playing around where they shouldn't be. Life is short - too short to swallow the trivia fed us by the media. How many times have the photos of the prostitute been shown on TV. How many times have the Fisk War Photos been on TV. They are online. Check them out. HR…Are you saying that Spitzer fell on his sword? He did – after the bureaucrats stuck it in his back.
I don’t care about the sex lives of those on the Right any more than I care about sexual escapades on the Left.
I care about a Single Payer Health care system and the 18,000 who will die this year because they don’t have it. I care about the 2 million we have slaughtered in Iraq since 1991. I care about the silencing of Ward Churchill, Jeremiah Wright, and many others. I care about too many other things to care about who is playing around where they shouldn’t be.
Life is short – too short to swallow the trivia fed us by the media. How many times have the photos of the prostitute been shown on TV. How many times have the Fisk War Photos been on TV. They are online. Check them out.

]]> By: HR http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16396 HR Sun, 16 Mar 2008 20:02:15 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16396 No wonder the "left" can do nothing more than paddle in circles. Spitzer "disenfranchised" the voters by his own actions. We waste little sympathy when those on the right are caught in similar situations, so it's time to grow up and learn to take our knocks. The man did himself in, period. No wonder the “left” can do nothing more than paddle in circles. Spitzer “disenfranchised” the voters by his own actions. We waste little sympathy when those on the right are caught in similar situations, so it’s time to grow up and learn to take our knocks. The man did himself in, period.

]]> By: rosemarie jackowski http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16395 rosemarie jackowski Sun, 16 Mar 2008 18:24:20 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16395 There should be a massive protest against the busy-body, voyeuristic bureaucrats who disenfranchised all of the voters who voted for Spitzer. This is "democracy" at its worse! There should be a massive protest against the busy-body, voyeuristic bureaucrats who disenfranchised all of the voters who voted for Spitzer. This is “democracy” at its worse!

]]> By: Michael Kenny http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16391 Michael Kenny Sun, 16 Mar 2008 16:03:50 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16391 I would guess that more is linked than just this. The Israel Lobby's strategy is an Isreal propped up by American brute force. That requires US military and economic hegemony in the world. The defeats in Iraq and Afghanistan have discredited US military power and that has undermined the dollar, which, in its turn, has set off the current economic crisis. For the Lobby, therefore, the dollar must at all costs be propped up so as to retain American control of the world economy, and, in particular, oil supplies, and so as to rebuild the American military machine. that, I think, explains the frantic and panicky reaction of the financial sector and why buckets of taxpayers' money are being thrown at the problem. I would guess that more is linked than just this. The Israel Lobby’s strategy is an Isreal propped up by American brute force. That requires US military and economic hegemony in the world. The defeats in Iraq and Afghanistan have discredited US military power and that has undermined the dollar, which, in its turn, has set off the current economic crisis. For the Lobby, therefore, the dollar must at all costs be propped up so as to retain American control of the world economy, and, in particular, oil supplies, and so as to rebuild the American military machine. that, I think, explains the frantic and panicky reaction of the financial sector and why buckets of taxpayers’ money are being thrown at the problem.

]]> By: Don Hawkins http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16390 Don Hawkins Sun, 16 Mar 2008 15:52:04 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16390 DR the only solution is hard choices. Now in order to make those hard choices it means to change the system. Bear Stearns what is it? In simple terms people sitting in front of a computer screen looking at numbers that in many cases are not real looking at charts that are in many cases not real and these people have on those head set’s to talking with other people who are taking those not real numbers and pushing the easy button to make money that is not real except on paper. It’s the not real part that we all see now. It’s time to pay-up. Well pay up with what it’s not real. The money the Fed gave to them where did it come from thin air that’s where it came from. I take that back the air now day’s is thick with CO 2 and a few other gas’s that is another very good reason to change the system. Let’s go with this. Oil companies, gas, coal and on and on. Do these people who run these companies know the seriousness of climate change, sure they do. There prime directive is to make money for the share holders again in many way’s not real. The people who run these companies have ego’s the size of there bank accounts and even in the face of making this planet in just a few years real fun because of climate change and for my kids and there kids survival is the name of the game it seems that’s Ok in there book. This administration has done nothing, nothing to slow this down and in many way’s helped to speed it up. It’s the change the system part they have a real hard time with as to do what is needed to go after this problem means they have to put themselves out of business or change. Right now what is the Big plan. To get the economy going again and keep the whole thing going the same as before this is where I hear the laughter of the God’s. They don’t get it or they want to go out in style. 85 million barrels a day oil that’s it. What are the cafe standards for 2020 it’s a joke. 14,000 new cars a day in China and on and on. Hard choices there is no other way to do this. This morning on Fox News they had a man on with his book on how to get rich apparently that ego some have blocks out that laughter of the God’s that seems to be getting louder everyday. DR the only solution is hard choices. Now in order to make those hard choices it means to change the system. Bear Stearns what is it? In simple terms people sitting in front of a computer screen looking at numbers that in many cases are not real looking at charts that are in many cases not real and these people have on those head set’s to talking with other people who are taking those not real numbers and pushing the easy button to make money that is not real except on paper. It’s the not real part that we all see now. It’s time to pay-up. Well pay up with what it’s not real. The money the Fed gave to them where did it come from thin air that’s where it came from. I take that back the air now day’s is thick with CO 2 and a few other gas’s that is another very good reason to change the system.
Let’s go with this. Oil companies, gas, coal and on and on. Do these people who run these companies know the seriousness of climate change, sure they do. There prime directive is to make money for the share holders again in many way’s not real. The people who run these companies have ego’s the size of there bank accounts and even in the face of making this planet in just a few years real fun because of climate change and for my kids and there kids survival is the name of the game it seems that’s Ok in there book. This administration has done nothing, nothing to slow this down and in many way’s helped to speed it up. It’s the change the system part they have a real hard time with as to do what is needed to go after this problem means they have to put themselves out of business or change. Right now what is the Big plan. To get the economy going again and keep the whole thing going the same as before this is where I hear the laughter of the God’s. They don’t get it or they want to go out in style. 85 million barrels a day oil that’s it. What are the cafe standards for 2020 it’s a joke. 14,000 new cars a day in China and on and on. Hard choices there is no other way to do this. This morning on Fox News they had a man on with his book on how to get rich apparently that ego some have blocks out that laughter of the God’s that seems to be getting louder everyday.

]]> By: DRL http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16382 DRL Sun, 16 Mar 2008 12:32:55 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16382 Quite right, rosemarie jackowinski. This smear campaign against Spitzer with, in the background, one of the foulest, most criminal administrations of all times, stinks to high heaven. I mean, really! All these vociferous busy-bodies condemning Spitzer for his "transgressions", even amongst the most "progressive" of voices. Oh, please do spare us, for cripe's sake! If anyone were truly concerned about morality, one would do better to investigate dynastic American families, among which the Rockefellers, the Carnegies, the Fords, the Bush family, the Clinton faction, and on to openly supported corporate entities such as Dyncorp and its human trafficking activities, the CIA and its worldwide drug-related fund-raising operations, <i>et ad nauseum</i>. The PTB viewed Spitzer's policies as a direct challenge to their grip, thus he was eliminated. Case closed. Quite right, rosemarie jackowinski. This smear campaign against Spitzer with, in the background, one of the foulest, most criminal administrations of all times, stinks to high heaven.

I mean, really! All these vociferous busy-bodies condemning Spitzer for his “transgressions”, even amongst the most “progressive” of voices. Oh, please do spare us, for cripe’s sake!

If anyone were truly concerned about morality, one would do better to investigate dynastic American families, among which the Rockefellers, the Carnegies, the Fords, the Bush family, the Clinton faction, and on to openly supported corporate entities such as Dyncorp and its human trafficking activities, the CIA and its worldwide drug-related fund-raising operations, et ad nauseum.

The PTB viewed Spitzer’s policies as a direct challenge to their grip, thus he was eliminated.

Case closed.

]]> By: rosemarie jackowski http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16363 rosemarie jackowski Sat, 15 Mar 2008 21:14:21 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16363 Greg, thanks for this great article. I live 40 miles outside of Albany. There has been a lot of news coverage of the Spitzer scandal. All along, I had a gut feeling that the Press was not getting the whole story. Spitzer made a lot of enemies when he wanted to allow immigrants to have drivers licenses. He was right then, but the Press and local talk show hosts really waged a nasty smear campaign against him. Greg, thanks for this great article. I live 40 miles outside of Albany. There has been a lot of news coverage of the Spitzer scandal. All along, I had a gut feeling that the Press was not getting the whole story. Spitzer made a lot of enemies when he wanted to allow immigrants to have drivers licenses. He was right then, but the Press and local talk show hosts really waged a nasty smear campaign against him.

]]> By: Don Hawkins http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16361 Don Hawkins Sat, 15 Mar 2008 20:11:00 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16361 Hooray could be heard from the floor of the exchange as the news came that Spitzer was in trouble. The fascinating part is I think many on Wall Street thought this would solve all there problems. Right, kind of like corn to solve this little energy problem and who came up with that idea? Many of the same people Greg talked about. It's for the good of the Nation. Well golly gee it sure seems to me stuck on stupid is America's greatest resource. Yes ,I said stuck on stupid shocking isn't it. Hooray could be heard from the floor of the exchange as the news came that Spitzer was in trouble. The fascinating part is I think many on Wall Street thought this would solve all there problems. Right, kind of like corn to solve this little energy problem and who came up with that idea? Many of the same people Greg talked about. It’s for the good of the Nation. Well golly gee it sure seems to me stuck on stupid is America’s greatest resource. Yes ,I said stuck on stupid shocking isn’t it.

]]> By: Evie http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16360 Evie Sat, 15 Mar 2008 20:06:08 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16360 As a "dark skinned" homeowner since the '70 - we do have a choice. Having a good credit rating and understanding what I sign goes a long way. In the Reagan/Bush era of the '80s when interest rates doubled, tripled, the same old subprime was ARMs, adjustable rate mortgages, the "negative amortization" mortgage program. Smart folks re-financed as soon as possible and did not take out second mortgages on the equity. Let's not forget the Reagan bailout for lenders. Remember Madison S&L and Silverado. The big boys have been pumping fuel into this ever-more-creative mortgage "crisis" since Reagan/Bush. Subprime lending grew big in the '90s as pols and lenders looked for new ways to create homeowners. Let's not forget Billy's role in <a href="http://www.presidency.ucsb.edu/ws/index.php?pid=51448" rel="nofollow"> National Home Ownership Strategy </a>, a "strategy" which devised new ways to get po' and non-white folks into the Amercian dream. HUD, lenders, banksters, pols and a cast of 1000s found buyers with no downpayment and sometimes no income to make payments, bad credit, no credit, high risk - and turned them into homeowners. <a href="http://about.countrywide.com/History/History.aspx" rel="nofollow"> Countrywide</a> hit the $12 billion mark in home loan servicing in 1989 and became the nations #1 mortgage lender in 1993. Not bad for a company founded in the 2 man office of Angelo Mozilo and David Loeb with more business savvy than Meyer Lansky and Lucky Luciano. Predatory lending has been around a long time, e.g. pawnshops, Payday loans, credit cards, etc. In fact, I think loan-sharking was legalized around the same time BigDaddy government legalized the numbers racket, calling it cutesy things like Powerball, Lotto, scratch off Money 4 Life tickets. As for Spitzer - he sued Countrywide in 2006 until they agreed to "... eradicate racial and ethnic disparities in mortgage lending and are willing to go the extra mile in their efforts to ensure that minorities do not pay higher prices for mortgage loans than similarly-situated non-minorities." Whoop dee doo. Such a silly agreement doesn't stop the vultures from preying on minorities - they just get more creative about it. We can cease being "victims" and stupid "steers" and the first thing to do is stop listening to anyone who tells us "we don't have a choice." As a “dark skinned” homeowner since the ‘70 – we do have a choice. Having a good credit rating and understanding what I sign goes a long way.

In the Reagan/Bush era of the ’80s when interest rates doubled, tripled, the same old subprime was ARMs, adjustable rate mortgages, the “negative amortization” mortgage program. Smart folks re-financed as soon as possible and did not take out second mortgages on the equity.

Let’s not forget the Reagan bailout for lenders. Remember Madison S&L and Silverado.

The big boys have been pumping fuel into this ever-more-creative mortgage “crisis” since Reagan/Bush.

Subprime lending grew big in the ’90s as pols and lenders looked for new ways to create homeowners. Let’s not forget Billy’s role in National Home Ownership Strategy , a “strategy” which devised new ways to get po’ and non-white folks into the Amercian dream. HUD, lenders, banksters, pols and a cast of 1000s found buyers with no downpayment and sometimes no income to make payments, bad credit, no credit, high risk – and turned them into homeowners.

Countrywide hit the $12 billion mark in home loan servicing in 1989 and became the nations #1 mortgage lender in 1993.

Not bad for a company founded in the 2 man office of Angelo Mozilo and David Loeb with more business savvy than Meyer Lansky and Lucky Luciano.

Predatory lending has been around a long time, e.g. pawnshops, Payday loans, credit cards, etc. In fact, I think loan-sharking was legalized around the same time BigDaddy government legalized the numbers racket, calling it cutesy things like Powerball, Lotto, scratch off Money 4 Life tickets.

As for Spitzer – he sued Countrywide in 2006 until they agreed to “… eradicate racial and ethnic disparities in mortgage lending and are willing to go the extra mile in their efforts to ensure that minorities do not pay higher prices for mortgage loans than similarly-situated non-minorities.” Whoop dee doo.

Such a silly agreement doesn’t stop the vultures from preying on minorities – they just get more creative about it. We can cease being “victims” and stupid “steers” and the first thing to do is stop listening to anyone who tells us “we don’t have a choice.”

]]> By: HR http://dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16358 HR Sat, 15 Mar 2008 19:37:27 +0000 http://www.dissidentvoice.org/2008/03/the-200-billion-bail-out-for-predator-banks-and-spitzer-charges-are-intimately-linked/#comment-16358 Like it or not, Spitzer apparently got carried away with his own ego, and broke the law. He had been in politics long enough to know how the system worked and got involved with prostitution anyway ... and got caught, like many before him, and many who will follow him. It's a damned shame, the demonization and criminalization of prostitution is a damned shame, and the way politics works in this country is a damned shame, too, but nobody seems to care enough to effect any significant change in the way we do business. Ya gets the government you deserve. Like it or not, Spitzer apparently got carried away with his own ego, and broke the law. He had been in politics long enough to know how the system worked and got involved with prostitution anyway … and got caught, like many before him, and many who will follow him. It’s a damned shame, the demonization and criminalization of prostitution is a damned shame, and the way politics works in this country is a damned shame, too, but nobody seems to care enough to effect any significant change in the way we do business. Ya gets the government you deserve.

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