Spitzer’s shame is Wall Street’s gain

Truthdig, by Robert Scheer

Excerpts from the piece:

Tell me again: Why should we get all worked up over the revelation that the New York governor paid for sex? Will it bring back to life the eight U.S. soldiers killed in Iraq that same day in a war that makes no sense and has cost this nation trillions in future debt? Will it save those millions of homes that hardworking folks all over the country are losing because of financial industry shenanigans that Eliot Spitzer, as much as anyone, attempted to halt? Perhaps it provides some insight into why oil has risen to $108 a barrel, benefiting most of all the oil sheiks whom our taxpayer-supported military has kept in power?

The sad truth is that reporting on major corruption, say, the rationalizations of a president who has authorized torture, doesn’t cut it as a marketing bonanza. Just days before this grand exposé, the president vetoed a bill banning torture, and instead of being greeted with horrified disgust, the president’s deep denigration of this nation’s presumed ideals was met with a vast public yawn. Torture, unlike paid sex, doesn’t have legs as a news story.

The New York Times, which editorially has supported the candidacy of Hillary Clinton, whose vast White House experience clearly did not include corralling her husband, now editorializes contemptuously about Spitzer’s betrayal of the public trust as well as about his exploitation of his “ashen-faced” wife, who, like Hillary, stood by her man.

I wouldn’t have written this column had I not read The Wall Street Journal’s Page 1 news story headlined “Wall Street Cheers as Its Nemesis Plunges Into Crisis.” The article begins with the crowing statement “It’s Schadenfreude time on Wall Street” and goes on to quote those whom Spitzer went after over what should be considered the criminal greed that has predominated on Wall Street. It was Spitzer, as much as anyone, who sounded the alarm on the subprime mortgage crisis, the obscene payouts to CEOs who defrauded their shareholders and the other financial scandals that have brought the U.S. economy to its knees.

Go here to read the whole thing.

3 thoughts on “Spitzer’s shame is Wall Street’s gain

  1. This little essay speaks deeply of our national values. Why death is less important than sex eludes me a bit. Only the Pope experiences one once but never the other. I know that priests fall into the same basket, but it seems that that only holds if you exclude altar boys and nuns.

  2. Since this is filed under Media Bias and Corruption, I thought I would share this article on a speech given by Bush regarding the Fairness Doctrine.

    I am quoting the entire text because it’s pretty amazing to me.

    In Nashville today, during a speech to the National Religious Broadcasters Convention, President Bush said there’s nothing fair about the so-called “Fairness Doctrine” that once required broadcasters to offer air time for competing ideologies.

    The FCC got rid of it about 20 years ago. Now, some Democrats in Congress – long the target of popular conservative radio talk-show hosts – think it’s time to bring it back.

    Perish the thought, Bush told the religious broadcasters in the following passage that ends with a veto promise.

    “This organization has had many important missions, but none more important than ensuring our airways – America’s airways – stay open to those who preach the ‘Good News.’ The very first amendment to our Constitution includes the freedom of speech and the freedom of religion. Founders believed these unalienable rights were endowed to us by our Creator. They are vital to a healthy democracy, and we must never let anyone take those freedoms away.”

    ” I mention this because there’s an effort afoot that would jeopardize your right to express your views on public airways. Some members of Congress want to reinstate a regulation that was repealed 20 years ago. It has the Orwellian name called the Fairness Doctrine. Supporters of this regulation say we need to mandate that any discussion of so-called controversial issues on the public airwaves includes equal time for all sides. This means that many programs wanting to stay on the air would have to meet Washington’s definition of balance. Of course, for some in Washington, the only opinions that require balancing are the ones they don’t like.”

    “We know who these advocates of so-called balance really have in their sights: shows hosted by people like Rush Limbaugh or James Dobson, or many of you here today. By insisting on so-called balance, they want to silence those they don’t agree with. The truth of the matter is, they know they cannot prevail in the public debate of ideas. They don’t acknowledge that you are the balance … The country should not be afraid of the diversity of opinions. After all, we’re strengthened by diversity of opinions.”

    “If Congress truly supports the free and open exchange of ideas, then there is a way they can demonstrate that right now. Republicans have drafted legislation that would ban reinstatement of the so-called Fairness Doctrine. Unfortunately, Democratic leaders in the House of Representatives have blocked action on this bill. So in response, nearly every Republican in the House has signed onto what’s called a ‘discharge petition,’ that would require Congress to hold an up or down vote on the ban. Supporters of this petition are only 24 signatures away.”

    “I do want to thank (Indiana Rep.) Mike Pence, who is with us today, and Congressman Greg Walden (of Oregon), for pressing this effort and defending the right for people to express themselves freely. And I urge other members to join in this discharge petition. But I’ll tell you this: If Congress should ever pass any legislation that stifles your right to express your views, I’m going to veto it.”

    If you click on the link above to go to the original article, be sure to read what I consider to be off the wall comments. It’s sad that so many people buy into whatever this moronic, corrupt, sociopath of a president says. And vigorously, at that! It’s a shame that most of the commenters there seem to forget that these are public airwaves and lies should not be allowed (let alone endorsed by the courts!) to spew forth freely as if they were truth or fact.

    There are days I just want to give up. Either people are too greedy or gullible, or both, to understand or give a shit.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s