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Spitzer's Shame Is Wall Street's Gain
By Robert Scheer
Truthdig
Wednesday 12 March 2008
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?
Sure, the guy, by his own admission, is quite pathetic in all those small,
squirrelly ways that have messed up the lives of other grand public figures
before him, but why is an all-too-human sin, amply predicted in early Scripture,
getting all this incredible media play as some sort of shocking event? The answer
is that, while having precious little to do with serious corruption in public
life, it does have a great deal to do with stoking flagging newspaper sales
and television ratings.
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 expose, 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.
Sex sells, and frankly it would seem far more exploitative for the news media
to pimp this tale to the public than anything that VIP escort service did with
the pitiable governor. His behavior was not really any more wretched than messing
around with a young and vulnerable White House intern who didn't even get paid
for her efforts, yet Bill Clinton survived that one, whereas Spitzer was presumed
dead on the arrival of this "news." 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.
The media consensus from the opening salvo was that Spitzer must resign and
he will be thrown to the dogs, which is unfortunate because, like Clinton, he
has done much valuable work in the public interest, and the outrage over this
personal dereliction, tawdry in the extreme, is excessive. I certainly never
wanted Clinton to resign, let alone be impeached, but why is Spitzer's paying
for sex more disgraceful than ripping it off? Yes, Spitzer allegedly broke a
law that shouldn't be on the books, and his resignation in disgrace is inevitable,
but it bothers me that George W. Bush and Dick Cheney remain in office despite
having violated enormously more serious laws.
Frankly, I don't care what any of these politicians do in their personal lives
as long as the practice is consensual, and the thousands of dollars that exchanged
hands in this case would provide a presumption that the lady in question was
indeed a willing partner in this commercial transaction. True, Spitzer is an
outrageous hypocrite for having prosecuted others caught in what should not
be considered criminal behavior, but since when is hypocrisy on the part of
a politician, particularly as to sex, so shocking?
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.
The best rule of thumb these days is that ordinary Americans should be mightily
depressed over any news that Wall Street hustlers cheer, for they have been
exposed as a dangerous pack of scoundrels quite willing to rob decent, hardworking
people of their homes. And of course no one on Wall Street ever paid for sex.
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