Mortaging America's future
for a quick buck
It's one of the most amazing displays of journalistic incompetence and malpractice in recent memory.
The US news media failed to draw the obvious connection between the bizarre federal law enforcement investigation and leak campaign about the private life of New York Governor Spitzer and Spitzer's all out attack on the Bush administration for its collusion with predatory lenders.
While the international credit system grinds to a halt because of a superabundance of bad mortgage loans made in the US, the news media failed to cover the details of Spitzer's public charges against the White House.
Yet when salacious details were leaked about alleged details of Spitzer's private life, they took that information and made it the front page news for days.
To the 9/11 fiasco, the Iraq War, the travesty of the federal response to Hurricane Katrina, and the shredding of the US Constitution, we can now add a deliberate and reckless undermining of the credit and banking system of the US to its list of "accomplishments."