Spitzer Got Screwed - And America did too...

I bet Spitzer Isn't Surprised by the Market Crash

Too bad something got in the way of Spitzer exposing all of that nasty predatory lending stuff way back when bush was fighting like a mad dog to keep this from being pursued by state AGs.

Sure, Spitzer should have de-socked before his career-ending indiscretion. But we should revisit the prophetic message that was lost to the tsunami of Spitzer's scandalization two weeks later.

Predatory Lenders' Partner in Crime: How the Bush Administration Stopped the States From Stepping In to Help Consumers,
Feb. 14, 2008. Washington Post.

Several years ago, state attorneys general and others involved in consumer protection began to notice a marked increase in a range of predatory lending practices by mortgage lenders...These and other practices, we noticed, were having a devastating effect on home buyers. In addition, the widespread nature of these practices, if left unchecked, threatened our financial markets.

Spitzer's omen went further to note that not only did the White House do nothing, it embarked on an aggressive and unprecedented campaign to prevent states from protecting their residents from the very problems to which the federal government was turning a blind eye after 50 state Attorneys General and many legislative attempts failed to halt the worst of the predatory lending excesses.

The AGs and their banking superintendents fought the Bush Administration's use of a Civil War era banking provision which established federal preemption of all state predatory lending laws and the new rules which emasculated state consumer protections from national banks.

Shortly before Stone's November tip finally mobilized national law enforcement to rescue Americans from the perverse activities of Spitzer and his calf-length socks, he left a final warning:

When history tells the story of the subprime lending crisis and recounts its devastating effects on the lives of so many innocent homeowners, the Bush administration will not be judged favorably. The tale is still unfolding, but when the dust settles, it will be judged as a willing accomplice to the lenders who went to any lengths in their quest for profits. So willing, in fact, that it used the power of the federal government in an unprecedented assault on state legislatures, as well as on state attorneys general and anyone else on the side of consumers.

We're now to let Industry's insider dictate the terms under which we'll spend the heritage of our grandchildren to repurchase the bloody bag of instruments of our rape?

Because, ya know, it wouldn't be such a nice gift for the republicans - to be able to turn against the bush admin. - at such an opportune time (by voting against a bail out) and the election coming up n' all.

1. Dems vote for the bail out and they are damned by the "fiscal conservatives" as "big spenders."
   
   
2. Vote against a bail out and the Dems are "do nothingers."

One of those two memes that will have to be beaten. Pick yer poison well.

You would think it might even have been why Spitzer was brought down in the first place. Because they might have wanted to wait until now to unleash the chaos. Not that the bushies have ever said anything that might suggest they would pull shit like this...

The aide said that guys like me were "in what we call the reality-based community," which he defined as people who "believe that solutions emerge from your judicious study of discernible reality." I nodded and murmured something about enlightenment principles and empiricism. He cut me off. "That's not the way the world really works anymore," he continued. "We're an empire now, and when we act, we create our own reality. And while you're studying that reality -- judiciously, as you will -- we'll act again, creating other new realities, which you can study too, and that's how things will sort out. We're history's actors . . . and you, all of you, will be left to just study what we do."

You don't think the bushies are playing ya? They are playing you all in the hopes of giving the republicans an edge to cut the Dems lead with... And no matter what way this all goes - the big spenders or the do nothings - in the end the shitpile will be shoveled higher and deeper onto the next administration.

McCain will be left with a great reason to cut programs and benefits if, god forbid, he wins. And if Obama wins... He will be saddled with too much debt to make a real dent in change.

The rich will be rewarded for failure and the poor will be stuck with the bill for generations to come.

John and Cindy McCain Don't Pay Home Taxes For 4 Years

Rich elitists don't have to pay taxes.

McCains Owed 4 Years of Taxes on Home
According to HuffPo and via ThinkProgress:

The article reports that the McCains had been delinquent in paying
taxes until Newsweek inquired about the matter. The McCains then paid off
$6,744.42 in back taxes, but still owe more. Newsweek writes:

When you’re poor, it can be hard to pay the bills. When you’re rich, it’s
hard to keep track of all the bills that need paying. It’s a lesson Cindy McCain
learned the hard way when NEWSWEEK raised questions about an overdue
property-tax bill on a La Jolla, Calif., property owned by a trust that she
oversees. […]

County officials say the trust still owes an additional $1,742 for
this year, an amount that is overdue and will go into default July 1.
Told of the outstanding $1,742, the aide said: “The trust has paid all bills
shown owing as of today and will pay all other bills
due.”

That settles that.

John McCain is
the epitome of a
modern day "GOP fiscal conservative."

Trust fund babies that can't balance their own checkbooks,
nevermind the budget of a country.

Any bets on whether the McCains used the unpaid home taxes as writeoffs against their income? Both John and Cindy need to open up all of their books for public scrutiny.

Gavel Gazing Joe Lieberman

Via TPM:

Marc Ambinder and Mike Allen are both reporting this afternoon that Joe Lieberman will appear in New Hampshire to endorse John McCain's presidential campaign.

A source familiar with the endorsement said that the two will appear of NBC's Today Show tomorrow morning and at a town hall meeting in New Hampshire.

The endorsement could help McCain with independents in the state.... The move will heighten speculation that McCain might ask Lieberman to join his ticket.

A few thoughts. First, this news hardly comes as a surprise. As far back as January, Lieberman said he would consider backing the Republican nominee in '08. Obviously, given that McCain and Lieberman have been joined at the hip in support of Bush's Iraq policy for five years, I would have been more surprised if he didn't endorse McCain.

snip

This is the natural evolution of an embarrassing senator who lost his way quite a while ago. It's unlikely, in a 51-49 Senate, that the Democratic leadership will punish Lieberman for this (by, say, reevaluating the decision to give him a committee chairman's gavel he never uses), but it's hardly an unreasonable move given the circumstances.

Via Connecticut Man1 at Drinking Liberally in New Milford:

Help Wanted: Prestigious Senate Career Opportunity

A prestigious opportunity for career advancement in the Senate:

The Democratic party is in search of a new Chairman (or chairwoman/chairperson) for the Committee on Homeland Security and Governmental Affairs. Moderate Senators need only apply.(1)

The Chairman's responsibilities and Jurisdictions will include real oversight concerning failures of the Bush administration in providing security to our nation during times of war, illegal invasions, ongoing occupations, and natural disasters, as well as overseeing the bloated budget and operations of the largest branch of government ever to be created in the US governments' history through legislation authored under the Republican controlled Senate and House, and signed by the Republican pResident of the time.

Your main and immediate responsibilities will include holding the needed hearings, directing sub-commitees and legislation needed to avoid repeating the previous disasters, corrupt practices, and failures that will be found with the proper direction and oversight of a NON-PARTISAN and ETHICAL Senate leader.

Send all applications to Senator Harry Reid(2)

(1)Minorities such as moderate Republicans having no ties to far-right-wing radical organizations like the Neoconservative movement, the American Enterprise Institute, The Heritage Foundation, Energy Corporations, or the Bush administrations most recent policy proposals that are doomed to failure, are encouraged to apply to Senator Harry Reid for any consideration concerning this soon to be available position.

(2)Note to applicants: Please mark the subject of the Email as "Homeland Security" and refer to this x-posted Blog diary in the opening paragragh of the application. You will be contacted shortly before I post an "I told you so!" diary covering the flawed positions, election statement lies, and propaganda of the far-right-wing radical Neoconservative Joe Lieberman.

ReReBlogged Since this position
has yet to be filled by a qualified,
ethical or sane candidate.

Funny... But true.

Fred Head Speaks

Fred Head comments on Tim Griffin:


Tim Griffin? Who's that?



More on Tim Griffin

Giuliani Comes Out in Style...

Rudy Giuliani announces his bid:

In a sign that he's serious about running for the White House, the two-term mayor filed a so-called "statement of candidacy" with the Federal Election Commission indicating that he would seek the presidency as a Republican should he decide to go forward.

Needless to say, the republican tag on his party affilliation should be a real drag on his campaign. Though, the same can be said of almost any GOP candidate given the current political climate based on the GOP's past records that more closely resembles criminal rap sheets than curriculum vitaes.