Skip to main content

Spitzer Says 'I Believe in Facts' After Claiming Bush 'Gave Us the Deregulatory Craziness That Led Us Over the Cliff'

Noel Sheppard's picture

The folks at CNN should be really proud of themselves.

In less than 24 hours, one of their current anchors - Fareed Zakaria - flat out lied about deficits, the debt ceiling, and the U.S. credit rating before a former host - Eliot Spitzer - falsely told viewers of HBO's "Real Time" that George W. Bush "gave us the deregulatory craziness that led us over the cliff" (video follows with transcript and commentary):

ELIOT SPITZER, FORMER CNN ANCHOR: Bill Clinton had a budget surplus. George Bush gave us the deficit, gave us the recession, gave us the deregulatory craziness that led us over the cliff. The Tea Party is the tail wagging the dog. It is the inmates running the asylum. It is people who don't know history, economics, politics, sociology, science. It is insane. And it is, it is time, I let you, I’m glad you [Bill Maher] said I’m an old school Democrat: I believe in science, facts…

MARGARET HOOVER: And spending.

SPITZER: ...no, and responsible capitalism. That’s who I am.

Yes, that's who he is: a man willing to go on national television and lie to the American people.

As a reminder, up until a few weeks ago, he was doing this on CNN on a nightly basis.

It is a immutable fact that the two pieces of legislation that led to the credit bubble and our economy's eventual collapse were the Financial Services Modernization Act of 1999 and the Commodity Futures Modernization Act of 2000.

The first signed by Bill Clinton in November 1999 - twelve months before Bush was elected - removed the last Depression era Glass Steagall constraints on the financial services industry thereby deregulating banks, securities firms, and insurance companies to invest in anything they wanted.

The second signed by Clinton in December 2000 a month before Bush was inaugurated deregulated commodities, in particular various derivatives including credit default swaps and collateralized debt obligations which were at the very heart of the eventual crisis.

These two bills George W. Bush had nothing to do with were the "deregulatory craziness that led us over the cliff."

Yet Spitzer, who accused Tea Partiers of not knowing "history, economics, politics, sociology, science" as he bragged about believing in "facts" on national television falsely pinned them on our 43rd President rather than the man whose signature is actually on both.

He concluded this diatribe by saying, "That's who I am."

Well, I can't argue with that.

Comments

#1 Synonyms

Liberal/Liar--Liar/Liberal.... Synonyms!

NEVER,NEVER trust a "liberal" (progressive)

#2 It's too bad

That Teddy K is not around . He could take Client #9, the Weiner and Wu out for a ride in Chappaquiddick and give them the benefit of his scandal free life. Oh there's room for Bayonne Barney Frank too.
"Don't let the bastards grind you down."

Red

#3 Red

Don't take this wrong I am not jumping on you. Don't let the bastards grind you down In the original Latin, Noli ilegitimus carborundum, carborundum meant like an abrasive or today we think of bastard file . During WWII General "Vinegar Joe" Stilwell used it as his motto. That is where the word bastard came to mean like a bastard in Washington. I think that Barry Goldwater also used it.

A well regulated militia being necessary to a free state, the right of the people to keep and bear arms shall not be infringed.

#4 Don't forget ----

The great hit by "The Toasters" in 97--(sarcasm on). Not that much of a fan of Stillwell, but much admired Barry Goldwater and his service to this country. Thanks Rick
"Don't let the bastards grind you down."

Red

#5 I can’t hear you. I have a banana in my ear.

Liberals seem to assume that, if you don't believe in their particular political solutions, then you don't really care about the people that they claim to want to help. Dr. Thomas Sowell

Te audire no possum. Musa sapientum fixa est in aure.
I can’t hear you. I have a banana in my ear.

Re vera, potas bene
Say, you sure are drinking a lot

Braccae tuae aperiuntur
Your fly is open
Antiquis temporibus, nati tibi similes in rupibus ventosissimis exponebantur ad necem.
In the old days, children like you were left to perish on windswept crags.

Non curo. Si metrum non habet, non est poema.
I don’t care. If it doesn’t rhyme, it isn’t a poem.
Canis meus id comedit.
My dog ate it

Quantum materiae materietur marmota monax si marmota monax materiam possit materiari?
How much wood would a wood chuck chuck if a wood chuck could chuck wood

#6 Here's a fact for Spitzer. I

Here's a fact for Spitzer. I refuse to allow a perverted moron like Spitzer to lead me around by the nose.

                                                                                                                                                                    

#7 That's probably not what he grabs on to

to lead someone around. If you get my drift...

hbnolikeee

#8 Spitzer quote: "I believe in

Spitzer quote: "I believe in facts. Like with a face like mine I have to pay women $1,000 to have sex with me."

"For evil to triumph it is enough only that good men do nothing".

#9 "I’m an old school Democrat"

No, Spitter.  You're just another horny little lying liberal.

No wait.  That IS  "an old school Democrat."  My bad.

What's da matter, dog?  You ain't gettin' enough lately.  You sure are gettin' touchy, yo!  Time for a trim?

Comrade Bubba

#10 Pot calling the kettle black

Sum of Eliot Spitzer's reasoning:
1) Bush deregulated
2) Clinton left a surplus

Debt is bad under Republicans but good under Democrats?

Clinton "surplus" was a smoke and mirrors operation that requited hiding off budget items and ignoring the big gorilla in the room called the national debt.

Bush added a huge bureaucracy to the government and the taxpayers have to carry the extra load by direct taxation or indirectly through inflation. The Department of Homeland Security considers Christians, Constitution advocates, second amendment activists, right to lifers and other "right wing" conservatives "terrorists." No thanks, Mr. Bush!

Bush signed a huge increase of costs by his Prescription Drug Program. Add that law to the "create more paper work for private industry" column. http://en.wikipedia.org/wiki/Medicare_Prescription_Drug,_Improvement,_an...

More paper work via Bush's No Child Left Behind law. It's interesting that Atlanta PUBLIC SCHOOL teachers blame NCLB for causing them to cheat on failing students' test scores to meet requirements of NCLB. That's like blaming laws against prostitution for causing Eliot Spitzer to hire expensive call girls to console him during his pensive moments of dealing with the heavy responsibilities of thinking of ways to bankrupt the state of New York.

#11 Republican Congress?

Correct me if I am wrong, but wouldn't the two bills cited by Noel have come from a Republican Congress?

Irgon,

Bush 43 was a "progressive" Republican not unlike his dad. That being said, he still cannot hold a candle to Obama and the democrats when it comes to out of control spending. If you look at the chart here, it is clear that Obama has increased deficit spending by at least an order of magnitude compared to Bush 43.

--

If you want to know what liberal secular progressives are really doing, just listen to what they are accusing others of.

Recommended reading: Liberal Fascism by Jonah Goldberg

#12 Client #9 has such tremendous credibility

in the eyes of those who use the false regulation argument for the purpose of ???? The only deregulation topic Spitzer should worry about is prostitution, both physical and moral.

#13 More stupid from the k00k.

Irgon: ...requited hiding off...

requite: 1a: to make return for : repay  b: to make retaliation for : avenge

Republicans repayed hiding off budget...  Huh?

Irgon: Bush signed a huge increase of costs...

Huh? President Bush signed costs? Huh?

Irgon: That's like blaming laws against prostitution for causing Eliot Spitzer to hire expensive call girls to console him during his pensive moments of dealing with the heavy responsibilities of thinking of ways to bankrupt the state of New York.

That's like the longest run-on sentence where the point just keeps waiting and you don't know when or where or why the point will come but it never does and you forget what was said in the beginning by the time you get to the end and it is like the longest run-on sent...., say didn't I already say that?

#14 Messed up on the headline, NS. Left out "Spitzer doubles down on

Messed up on the headline, NS. Left out "Spitzer doubles down on lying to viewers."

Or . . "Spitzer picks up the lying, where Zakaria left off, day before."

Or . . " Spitzer -- Just another idiot liar on CNN."

Just saying -- his lies are bold enough to deserve the 'headline, tell-it-like-it-is' treatment.

We all know -- why don't they(?) that "Bill Clinton had fleas, oops, I mean a "surplus," is meaningless, as Bill Clinton also had a crash - a big - "huge" (as Julia Roberts would say, in ""Pretty Girl") M-F crash.

It was the March, 2000 dot.com [Enron] bubble crash that took the economy down before Bush became president. Either just before that "Crash," or in the months that followed it, darn near every single leading economic indicator turned on a dime heading straight south - the charts are ugly, as they say.

It was that fallout that caused the huge deficits to return by 2002-03. Sure, the hard costs and additional fallout from 9/11 added to that process, and indeed, the stimulus bills [some call them tax cuts] that Bush and Congress passed to try to get the economy back on it's feet again, from the disaster that Bush inherited, added a bit more to the deficit turn around, but, as I often quote what the progressive - heck socialist - economist and darling of the MSM, Dean Baker told me in a 2002 e-mail, it was the economic fallout from the bubble crash which:

  • has been a far bigger cause of the return of deficits than the Bush tax cuts

Paul Krugman as alluded to the same, in the past. This is just common sense - Econ Understanding 101 - and if anyone in the national media would simply just asked the question straight out to any of them, they'd get the same answer again.

The problem here, is that the MSM doesn't want the truth out - never has wanted it out.

This past week, in addition to NB's calling em out on the lies, we had Senator Jon Kyle, R. AZ, calling out Bob Schieffer on lying --  three cheers for Kyle. That's what the Republicans need to do, on this and many other issues. And, they need to do it daily, each and every time they have the chance in front of the American people.

So, let's put it in the headline when they lie - which is about every day of the week. Goodness, if the Democrats (including sitting elected members) and members of the MSM can comfortably call Republicans fascists and terrorists over their populist (widely supported by a super majority) views, then we can call them a "liar" when they lie.

(;~/ gary

#15 Are liberals ignorant of the

Are liberals ignorant of the facts or just plain stupid?

Bush led us over a cliff? What a nice pile of steaming hyperpole.
How about Franks and Dodd not allowing Bush to audit Fannie and Freddie? How about that? It was regulation that got us into this mess. When crooked politicians are in charge of the piggy bank!

Spitzer, you are one stupid a******!

"It may be true that you can't fool all the people all the time, but you can fool enough of them to rule a large country"......Will Durant

#16 They Are Liberal Secular Progressives.

Need we say more?

--

If you want to know what liberal secular progressives are really doing, just listen to what they are accusing others of.

Recommended reading: Liberal Fascism by Jonah Goldberg

#17 Libturds like Spitzer and

Libturds like Spitzer and Fareed do not let facts get in the way of their screed.

"The trouble with our liberal friends is not that they are ignorant; it's just that they know so much that isn't so." President Ronald Reagan

#18 Truth

TRUTH.....we don't need no stinkin' truth!!

#19 NB readers might want to watch "The Warning"

NB readers might want to watch the PBS presented production of  "The Warning." Even though it is presented thru a liberal tinted lens - it clearly demonstrates how out of touch with truth Elliot Spitzer is.

(;~> gary

#20 Government regulations are a big reason why this country...

...is in the final throws of its existence.

That, along with last-minute, insane, and go-out-with-a-bang spending.

-Dave

Vote for the American in November

#21 Wasn't Spitz part of the problem?

Didn't Spitz, as attorney general, hound a number of competent CEOs into quitting on almost-trumped-up charges, forcing those companies to be led by incompetent replacements who made bad investment decisions?

#22 Yes he did--

Done by a 1919 0r 1920 little known tool known as the "Martin Act" where CEO's or others were brought in for questioning by the AG Spitzer and his henchmen without the right to legal counsel and were not protected under self incrimination laws. "Now for the scary part: To win a case, the AG doesn't have to prove that the defendant intended to defraud anyone, that a transaction took place, or that anyone actually was defrauded. Plus, when the prosecution is over, trial lawyers can gain access to the hoards of documents that the act has churned up and use them as the basis for civil suits. "It's the legal equivalent of a weapon of mass destruction," said a lawyer at a major New York firm who represents defendants in Martin Act cases (and who didn't want his name used because he feared retribution by Spitzer). "The damage that can be done under the statute is unlimited."
He went after anyone he could to enhance his position in the eyes of the party. Then gain the Governorship and spot in line to be client #9 He's a little fascist who has no regard for the law or it's consequences.
"Don't let the bastards grind you down."

Red

#23 Little wonder that Client #9 appears on Maher's show

They're two of a kind, and facts are never important to their arguments.

SPITZER: ". . .The Tea Party is the tail wagging the dog."

This must come from DNC talking points, because Wasserman-Schultz and other Dems and pundits have been uttering it a lot this week.

#24 → Ironic, ain't it?

"Wag The Dog" was a movie about a President who created a fictional war to upgrade a scandalous image of himself.

Now we have a President who really did go to war with Libya and Yemen but claims they're not really wars, in order to make Americans forget he is a loser.

#25 Who Needs War to "Wag the Dog"?

Of what value is a debt ceiling if all you do is raise it each time you hit it?

The only true crisis would be Obama and the democrats having to tell their supporters that "other people's money has run out. There is no more money for them."

The only reason we don't hear that this is a manufactured crisis is because of the scribes in the lamestream media. Real journalists--meaning those who know and understand why the Constitution has a special provision for them--would be demanding to know why Obama and democrats want the debt ceiling raised when the past 2.5 years clearly show that more spending is, in fact, hurting, and not helping the economy.

--

If you want to know what liberal secular progressives are really doing, just listen to what they are accusing others of.

Recommended reading: Liberal Fascism by Jonah Goldberg

#26 No one will say the two word summary

Affordable housing

#27 Ability to Pay

And, don't forget this minor point: The (in)ability of the person to repay the mortgage loan.

--

If you want to know what liberal secular progressives are really doing, just listen to what they are accusing others of.

Recommended reading: Liberal Fascism by Jonah Goldberg

#28 Exactly! This is the source

Exactly! This is the source of the meltdown; another redistribution plan designed to obtain Marxist equal outcomes in home ownership. Not only was it a miserable failure, but it actually harmed those it was designed to help. The mortgage meltdown was the cause of the recently reported enlargement of the gap between rich and poor.

#29 Really?

you drag out a slur like "kike"? Why don't you take that back to Kos or DU? WE expect to see that over at those sites. Most posters at NB don't appreciate terms like that.

To re-elect Obama would be like the Titanic backing up and hitting the iceberg again.

#30 I'm with UpNorth

We don't need that here. Yes, #9 is a moonbat jerk but using those kind of slurs just makes us look bad, please clean it up. Have a nice day.

_____________________________________________________________ I'm not too drunk to dance! It's just that people keep stepping on my hands!

#31 Barrel of Monkeys

The way the audience cheered in that clip reminded me of a cage full of monkeys. Proving once again that only liberals, fascists and communists will applaud to a diatribe filled with disinformation. Especially, when slopped out by a lying, disgraceful, cheat like Spitzer.
I wonder when Weiner will land his CNN gig?

#32 Would anyone expect truth from a whoremonger?

He betrayed his wife, his family and his constituency yet he still gains credence from an equally corrupt main stream media. In any other era, he would have been exiled and lived out his days in obscurity and disgrace.

#33 It is a shame doc

The media has fallen to new lows with the people they hire. What has happened to our once reliable media... sigh : (

_____________________________________________________________ I'm not too drunk to dance! It's just that people keep stepping on my hands!

#34 In our era to be exiled

he would only have to be a conservative.

#35 Noel. What about Jamie

Noel. What about Jamie Gorleck and turning mortgages into mutual funds????????
She authored the famous memo for the CIA and FBI. They might have figured out 9/11 and Moussiai.....maybe. (my spelling sucks......).

I believe, we are still in the Billgore depression. The normal economic indicators have not returned to previous levels long enough.
Kinda like they say ""new deal" made the "Great Depression" last into the 50's.

By the way. It's here in NB. The first week of Bush 43. The CBO said there was no Surplus! It's was all an accounting trick directed by Bill / Hill.

-Zippy. Live in the dirt and eat out of a can. Or live in a can and eat dirt........ Die on your feet or live on your knees........

#36 They learned those accounting

They learned those accounting tricks before they got to DC. Just look at the Whitewater Development Corporation. Lots of people have forgotten about that.

A well regulated militia being necessary to a free state, the right of the people to keep and bear arms shall not be infringed.

#37 I thought that client #9 had

I thought that client #9 had been fired? He keeps turning up like clap in a whorehouse!

Meanwhile, do we really care what they say on maher's show on subscription only HBO that has a tiny tiny audience?

Heck, NB, you may be the only audience the show has . . . .

#38 It would matter

if a gave anything at all the disgraced whoremonger says any credibility at all.

Bob K

#39 Insight from Number 9?

Hey Number 9, you give "having sex with black socks on" a bad name. Go away, please!

"Someday a real rain will come and wash all this scum off the streets". - Robert DeNiro, Taxi Driver (1976).

#40 Spitzer Bitten by a Fact

Client number 9 was bitten by the fact that too few people buy his line of BS to keep him on MSNBC. He did not recognize a fact after it cost him his job, twice.

#41 FACT

Clinton FORCED our banks to open up Billions and Billions of dollars a year in NEW CREDIT to people who PREVIOUSLY DID NOT QUALIFY for credit from 1995 until this horribly bad idea bankrupted our banks and Wall Street causing the bailouts and the recession that started in 2007 - 08. Wall Street was trading, bundleing up toxic debt or toxic mortgages and selling them. Deregulation had little to do with what went wrong. What went wrong was Socialists spreading the banks wealth. Socialism bankrupted the banks and Wall Street.

Scott Trent

#42 Scott. That it what the

Scott. That it what the Financial Services Modernization Act of 1999 and the Commodity Futures Modernization Act of 2000 were about.

And All the lawyers suing banks, if they did not loan enough in their local community.
Which is part of what you are saying.

Which goes back to all those people, who saw Barry Soetoro speak, and took away that he was going to pay for their houses and all their gas. And stick it to whitey.

Class warfare. And here is comes, again. More tax the rich and stick it to whitey.
And if the economy collapses. Who gets screwed first. Poor people.

-Zippy. Live in the dirt and eat out of a can. Or live in a can and eat dirt........ Die on your feet or live on your knees........

#43 Government forced social equality

Banks were threatened by the government of having their FDIC insurance withdrawn if they didn't give out risky loans. But, not to worry Barney Frank said there was nothing to worry about.
"Don't let the bastards grind you down."

Red

#44 Dear Client 9...

Here is a "fact".

 

You're a lying sack of dog doo.

 

You campaigned on morality and got caught with your tiny noodle up some hooker's bum. Rumor has it you were Mr. Kinky. Can I offer you a goat?

 

You should be in jail, but I guess working at CNN is pretty close.

 

You think that you are "rehabilitating" your so-called career, but guess again...

 

You are doomed to an existence of droning on a 3rd rate cable network for the rest of your life, dreaming about what could have been.

 

Maybe you and Weiner-boy can have a same-sex marriage.

The Obamination... A crisis leading to a catastrophe..(please donate to MRC)

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.