CWR co-hosts Bill Baue and Francesca Rheannon speak with investigative journalist Greg Palast, who notes the coincidental timing of revelations of Eliot Spitzer’s hiring of a prostitute on the eve of Federal Reserve Chairman Ben Bernanke’s $200 billion bailout of banks implicated in the subprime meltdown. The former New York Governor was set to unveil plans to pursue prosecution of the banks for predatory lending that is illegal under New York State law, where most of the banks are headquartered, according to Palast. So instead of being busted by Spitzer, the banks behind the subprime mess were rewarded with a fifth of a trillion dollars, printed by the US government.
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14 March 2008, GregPalast.com: “Eliot’s Mess”
CWR HEADLINES
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13 March 2008, The Economist: The Green Exchange, the first US-based carbon emissions market, opened on March 17 (“The greening of Wall Street: Tackling the carbon crisis amid the credit crisis.”)
16 March 2008, New York Times: “Hydrogen Fuel Station Opens in White Plains”
11 March 2008, New York Times: “Long Ocean Voyage Set for Vessel That Runs on Wave Power”
16 March 2008, New York Times: X-Prize Foundation announces contest for affordable, consumer-friendly car getting 100 miles a gallon
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