He actually tried! He stood up, thinking that, as governor of one of the most power states in America, he could rally the nation against he gangsters who were running it.
He brought out his guns and fired them off on MSNABC and Fox News and wire services and the whole world:
He even fired the first (and only) volley of the charge inside the prestigious National Press Club thinking that this shot would be so loud it would be heard around the world, that the media would follow his leading charge against the crime of the century.
The price of your house today echos the noise from that shot; a little late, maybe, but being addressed.
Some excerpts from Spitzer's volley puplished in the Washington Post under this headline:
Predatory Lenders' Partner in Crime - and the reason he was politically assassinated
"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.
"Some were misrepresenting the terms of loans, making loans without regard to consumers' ability to repay, making loans with deceptive "teaser" rates that later ballooned astronomically, packing loans with undisclosed charges and fees, or even paying illegal kickbacks.
"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.
"Even though predatory lending was becoming a national problem, the Bush administration looked the other way and did nothing to protect American homeowners.
"In fact, the government chose instead to align itself with the banks that were victimizing consumers.
"Predatory lending was widely understood to present a looming national crisis. This threat was so clear that as New York attorney general, I joined with colleagues in the other 49 states in attempting to fill the void left by the federal government.
"Individually, and together, state attorneys general of both parties brought litigation or entered into settlements with many subprime lenders that were engaged in predatory lending practices. Several state legislatures, including New York's, enacted laws aimed at curbing such practices."
The Washington Post added a flanking volley with its own comment, initially joining the leading charge:
"What did the Bush administration do in response? (To Spitzer's charges). Did it reverse course and decide to take action to halt this burgeoning scourge? As Americans are now painfully aware, with hundreds of thousands of homeowners facing foreclosure and our markets reeling, the answer is a resounding no."
(The Washington Post, as you are aware, was the journal that brought down the Nixon administration).
Trussed, eviscerated and thoroughly brought down, he was held in check by threats of criminal prosecution under the Mann Act, but, since the end of the Bush regime, things are heading for a return to sanity with Spitzer the first to be completely let off what's left of the hooks that were in him.
This is his capitulation speech after being told on the sixth of November he was not to be prosecuted:
"I appreciate the impartiality and thoroughness of the investigation by the U.S. Attorney's Office, and I acknowledge and accept responsibility for the conduct it disclosed. I resigned my position as Governor because I recognized that conduct was unworthy of an elected official. I once again apologize for my actions."
Spitzer, the 54th governor of New York, officially resigned on March 17 after he was found to be a client of the Emperors Club VIP that was busted days before. He has remained out of the public eye until his November 7 speech,
This is his legacy:
"When history tells the story of the sub prime 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."
Sad, isn't it, how the little things in life affect us?
(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).
3
3
2
