Connie's Comments

Incisive observations on political, cultural, and spiritual topics, based on personal commitment to accuracy and honesty.
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Saturday, March 22, 2008
Sharks Got Federal Bail-Out; "Sheriff" Got Federal Investigation; Workers Got Destroyed Lives
(and what have Israel and Manchurian Candidates got to do with it?)

by Connie Cook Smith
As NY attorney general, "Sheriff of Wall Street" Eliot Spitzer actually did prosecute some of the upper echelons of bankers whose Bush-enabled lawlessness was victimizing home owners. That was before this thing got so big that the media cared.

Spitzer brought about some accountability against some Wall Street sharks for "sub-priming," essentially loan-sharking -- but the Bush regime not only made prosecution difficult for him but sometimes totally ineffective, by providing banker buddies outrageous end-runs around the law.

Now that it's boiled over and the tax dollars of many victims have been designated to keep a shark-bank afloat -- insult to injury! -- nevertheless a run on the Bear-Stearns bank has collapsed it. And "the assistants, secretaries and blue-collar guys who keep the building running" have lost everything.

Some long-term nest-eggs of $200,000 -- worked-long-and-hard-for -- are now reduced to only $2,000.

Is federal money pouring in for THEM? No, the bank has hired "grief counselors" to help them just get over it.

Meanwhile, those at the top who have CAUSED this disaster have lost some dough, too. But because they were paid so highly to begin with, they can fall back on numerous other resources that they've been able to accumulate.

Spitzer over the past year was no longer attorney general, but as NY governor he was at least powerfully editorializing against Bush and Buddies who had undermined and blocked accountability -- an accountability under the law that could've stopped the sub-primes from mushrooming to the point where some families are living in campers now -- a burgeoning 21st century version of the 1929 Depression "Hoovervilles" where families had to subsist in tents.

"Coincidentally," all light, noise, and heat was on Spitzer and his sins on the day that billions of our federal dollars were handed to Bear-Stearns -- and shouldn't it be called Shark-Stearns?

The focus on the day he resigned should have been on how BAD these bankers are. My god look at all the devastation to America they are causing! But instead it was, oh look look look at the bad man governor! The governor who, by the way, tried to jail those bankers in the past, and was whistle-blowing on Bush's support for them in the Washington Post in the present.

What a coincidence indeed that the sharks got a federal bail-out, while the "sheriff" got a federal investigation.

Of course Spitzer shouldn't have been so stupid on the personal front.
And the now-arrested Israeli owner of the escort service -- well, that is a whole 'nother story, but here's a hint: a decades-long policy of American politicians being blackmailed to serve Israel's interests, not America's.

And why didn't Spitzer ever prosecute any of the high-level U.S. government and corporate yahoos who made sure the 9/11 attacks destroyed incriminating records and burdensome buildings (and oh yeah thousands of people in order to enrage America enough to invade the Middle East, to control oil -- and as always -- to protect Israel at America's expense).

Spitzer was presented mounds of evidence on all this years ago by the 9/11 Truth movement, but as far as is known, did nothing.

So of course, Spitzer is no angel. But he was at least doing his part years ago to nip the sub-prime disaster in the bud. And when he had to resign as governor, he had just used his clout editorially to expose the Bush-and-Buddies cabal who truly enjoy robbing the poor to give to the rich.

One more thing about Spitzer's Washington Post piece: Nobody read it. Why? On that Valentine's Day, "a sweet guy" who had been bestowed academic honors at Northern Illinois University suddenly drove from downstate back to the school where he was so highly esteemed and went on a shooting-killing rampage.

I've seen speculation before that when really bad news for the bad guys ruining our country and wrecking our world erupts, so suddenly do shooting rampages like Virginia Tech and NIU -- whereupon no other news gets noticed.

Well, Manchurian Candidates are real. Government-hypnotized killers are not fiction. Spitzer's Valentine expose' of Bush got pre-empted. And a month later, his forced resignation got the publicity -- on the same day Bear-Stearns got the money.

Spitzer's Valentine's Day editorial:
# # # # #
From ABC News -- Bear-Stearns Calls In Grief Counselors


Facing the loss of their life savings and very possibly their jobs, employees at investment bank Bear Stearns are turning to trained professionals -- not for financial advice but for psychological counseling.

The company, which collapsed suddenly last week when real estate clients withdrew $17 billion in two days, will provide psychological counselors to help workers handle the news that their plans and perhaps their dreams have abruptly and dramatically changed.

...real estate clients caused essentially a run on the bank last week. Facing the prospect of bankruptcy, Bear CEO Alan Schwartz sold the company to JPMorgan Chase for $240 million, a song compared with its value of $20 billion just three months ago.

Overnight, the stock tumbled and was valued at $2 a piece Monday...about 30 percent of the company, from secretaries to executives, are long-term owners of the shares, leaving people who had recently bought homes or who were looking forward to retirement to radically change their plans. average Bear Stearns employee who had $200,000 in a retirement fund last week now has just $2,000.


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