Or was Bush acting as Wall Street's pitchman in order to keep the MBS flywheel operating at full throttle?
Eliot Spitzer, then governor of New York, apparently thought so when he wrote an op-ed in late 2003:
"In 2003, during the height of the predatory lending crisis, the Office of the Comptroller of the Currency (OCC) invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative.
"The OCC also promulgated new rules that prevented the states from enforcing any of their own consumer protection laws against national banks.
"The federal government's actions were so egregious and unprecedented that all 50 state attorneys general and all 50 state banking superintendents, actively fought the new rules..."
For thousands of years before anyone coined the word "socialism" ALL governments sought to privatize profit while socializing cost.
Clinton, Bush, and Obama are merely the latest in a long line of shills used by the rich to enslave humanity.
Eliot Spitzer, then governor of New York, apparently thought so when he wrote an op-ed in late 2003:
"In 2003, during the height of the predatory lending crisis, the Office of the Comptroller of the Currency (OCC) invoked a clause from the 1863 National Bank Act to issue formal opinions preempting all state predatory lending laws, thereby rendering them inoperative.
"The OCC also promulgated new rules that prevented the states from enforcing any of their own consumer protection laws against national banks.
"The federal government's actions were so egregious and unprecedented that all 50 state attorneys general and all 50 state banking superintendents, actively fought the new rules..."
For thousands of years before anyone coined the word "socialism" ALL governments sought to privatize profit while socializing cost.
Clinton, Bush, and Obama are merely the latest in a long line of shills used by the rich to enslave humanity.
