Not Too Big to Jail: Why Eliot Spitzer Is Wall Street’s Worst Nightmare
Tuesday, 20 August 2013 09:16 By Ellen Brown, Web of Debt | News Analysis

Before Eliot Spitzer’s infamous resignation as governor of New York in March 2008, he was one of our fiercest champions against Wall Street corruption, in a state that had some of the toughest legislation for controlling the banks. It may not be a coincidence that the revelation of his indiscretions with a high-priced call girl came less than a month after he published a bold editorial in the Washington Post titled “Predatory Lenders’ Partner in Crime: How the Bush Administration Stopped the States from Stepping in to Help Consumers.” The editorial exposed the collusion between the Treasury, the Federal Reserve and Wall Street in deregulating the banks in the guise of regulating them, by taking regulatory power away from the states. It was an issue of the federal government versus the states, with the Feds representing the banks and the states representing consumers.

Five years later, Spitzer has set out to take some of that local regulatory power back, in his run for New York City comptroller. Mounting the attack against him, however, are not just Wall Street banks but women’s groups opposed to this apparent endorsement of the exploitation of women. On August 17th, the New York Post endorsed Spitzer’s opponent and ran a scathing cover story attempting to embarrass Spitzer based on the single issue of his personal life.

Lynn Parramore, who considers herself a feminist, countered in an August 8th Huffington Post article that it is likely to be in the best interests of the very women who are opposing him to forgive and move on. His stand for women’s reproductive rights and other feminist issues is actually quite strong, and his role as Wall Street watchdog protected women from predatory financial practices. As New York Attorney General, he was known as the “Sheriff of Wall Street.” He is one of the few people with not only the insight and experience to expose Wall Street corruption but the courage to go after the perpetrators.

Read more.



Post comment

Forbidden Bookshelf

Forbidden Bookshelf




“While We Were Sleeping”

While We Were Sleeping is an urgent call to save Greenwich Village from New York University's uncontrolled expansion.

Click here to donate to NYUFASP and receive a copy of "While We Were Sleeping: NYU and the Destruction of New York" (minimum donation to receive a book is $10 plus $8 shipping).

Orwell Rolls In His Grave, featuring MCM – Buy the DVD



About News From Underground

News From Underground is a daily e-news service run by Mark Crispin Miller, a Professor of Culture and Communication at NYU. It is based on his belief that academics, like reporters, have a civic obligation to help keep the people well-informed, so that American democracy might finally work.

If you'd like to receive updates delivered to your inbox daily, sign up for News From Underground Alerts:

Help News From Underground!





Message from Mark: "I am a one-man operation, although assisted greatly by some volunteers, and, now and then, by people paid by others for one-time projects. There is no shortage of skilled, dedicated folks out there who want to help me. There is, however, nothing I can pay them with, unless you decide you can contribute something."

Please donate via the PayPal button above or via PayPal by email to: markcrispinmiller@gmail.com

Recent Posts

Recent Comments

Popular Posts

Blogroll

Need a bigger font size?




Sponsored Links



  • Your link could be here too, contact us for pricing details.