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|User Info||The Tide Is Turning.....; entered at 2012-05-14 11:37:04|
Registered: 2008-09-09 Portland OR
Eliott Spitzer was on This Week yesterday and said a series of gems about JPM and bank regulation in general. Before being cutoff by Maitlin and Stephanopoulos, he managed to blurt this out.|
SPITZER: All I need to say is in all the years I was there trying to bring these cases, every time I went before the House Financial Services Committee, they wanted to pre-empt me so we could not bring an enforcement action. It was kowtow. When bankers said jump, they said how high? It was the most outrageous--
He said some other things most here would agree with. http://abcnews.go.com/Politics/week-tran....
We are suffering the ill effects of the corruption of our government, not just our financial services industry. If money is the functional equivalent of free speech, democracy is doomed. It takes money to be elected and being elected and re-elected is the prime directive of all politicians. When we see our government doing things that are clearly not in the public interest, you can bet that money, and promises of money are behind it. As long as money is free speech, our government will be corrupted by it, you and I will lose, and those with fat wallets will win. Even more important that reinstating Glass-Steagall, we must overturn Citizens United and do our damnedest to get big money out of politics. I agree with ending unsecured lending but am not as convinced as Gen is that it would solve the political corruption problem.