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to be carried out," said Fujita. (See Censored 2008, no. 16.) Fujita went on extensively to ask about "the suspicious information being uncovered and the doubts people worldwide are having about the events of 9/11"... Fujita then addressed then Prime Minister Yasuo Fukuda: "I would like to know why the Prime Minister thinks it was the Taliban who was responsible for 9/11." He continued: "We need to go back to the beginning and not just simply and blindly trust the US government explanation and indirect information provided by them... We need to look at this evidence and ask ourselves what the war on terrorism really is... We need to ask who the real victims of this war on terrorism are. I think the citizens of the world are its victims..." examined the books of national banks to make sure they were balanced, an important but uncontroversial function. But a few years ago, for the first time in its history, the OCC was used as a tool against consumers. "In 2003, during the height of the predatory lending crisis, the 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 states from enforcing any of their own consumer protection laws against national banks. The federal government's actions were so egregious and so unprecedented that all 50 state attorneys general, and all 50 state banking superintendents, actively fought the new rules. "But the unanimous opposition of the 50 states did not deter, or even slow, the Bush administration in its goal of protecting the banks. In fact, when my office opened an investigation of possible discrimination in mortgage lending by a number of banks, the OCC filed a federal lawsuit to stop the investigation." Tha aditacial annanend tha Aner 25. Bush's Real Problem with Eliot Spitzer deter, or even slow, the Bush administration in its goal of The exposure on March 10, 2008, of New York State _ protecting the banks. In fact, when my office opened an Governor Eliot Spitzer's tryst with a luxury call-girl had little investigation of possible discrimination in mortgage lending to do with the Bush administration's high moral standards for by a number of banks, the OCC filed a federal lawsuit to public servants. Author F. William Engdahl advised in his __ stop the investigation." story for GlobalResearch.ca on The editorial appeared the day March 18 that "in evaluating W . after Spitzer's ill-fated rendezvous spectacular scandals around When history tells the story of with the prostitute at the prominent public figures, itis | the subprime lending crisis and Mayflower Hotel. With that important to ask...who might want . ° article, some Washington insiders to eliminate that person". recounts Its devastating effects... believe, Spitzer signed his own According to Engdahl, timing on . . political death warrant. suggests that "Spitzer was likely a the Bush administration...will be On March 4, _ Spitzer target of a White House and Wall judged asa willing accomplice furthermore proposed legislation Street dirty tricks operation to that would have imposed penalties silence one of its most dangerous to the lenders who went to any for mortgage fraud and predatory and vocal critics of their handling i i its! lending. [of] the current financial market lengths in their quest for profits. Curiously, Spitzer, who had crisis". been elected governor in 2006, Spitzer had become increasingly public in blaming the _—_ defeating a Republican by winning nearly 70 per cent of the Bush administration for the subprime crisis. On February vote, has been not charged with any crime. His case went 14, 2008, he testified before the US House of _ into the hands of Washington and not those of the New York Representatives Financial Services Committee's State authorities, underscoring the clear political nature of Subcommittee on Capital Markets, Insurance and Spitzer's "offence". New York Assembly Republicans Government Sponsored Enterprises. Earlier that day, in a immediately announced plans to impeach Spitzer or put him national CNBC interview, he laid blame squarely on the on public trial if he were to refuse resignation. Although administration for creating an environment ripe for predatory _ prostitution is illegal in most US states, clients of prostitutes lenders. are almost never charged, nor are their names typically Also on February 14, the Washington Post published an __ released while a case is in process. editorial by Spitzer, titled "Predatory Lenders' Partner in Spitzer's editorial concluded: Crime: How the Bush Administration Stopped the States "When history tells the story of the subprime lending crisis from Stepping In to Help Consumers", in which he charged: and recounts its devastating effects on the lives of so many "Not only did the Bush administration do nothing to —_ innocent homeowners, the Bush administration will not be protect consumers, it embarked on an aggressive and _ judged favorably. The tale is still unfolding, but when the unprecedented campaign to prevent states from protecting dust settles it will be judged as a willing accomplice to the their residents from the very problems to which the federal lenders who went to any lengths in their quest for profits. So government was turning a blind eye. willing, in fact, that it used the power of the federal ".The administration accomplished this feat through an —_ government in an unprecedented assault on state legislatures, obscure federal agency called the Office of the Comptroller —_as well as on state attorneys general and anyone else on the of the Currency (OCC). The OCC has been in existence __ side of consumers." since the Civil War. Its mission is to ensure the fiscal Eliot Spitzer announced his resignation on March 12, soundness of national banks. For 140 years, the OCC __ effective on March 17, 2008. 00 20 ¢ NEXUS www.nexusmagazine.com DECEMBER 2008 — JANUARY 2009