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Context of 'February 14, 2008: Eliot Spitzer Accuses Bush Administration of Protecting Predatory Lenders'

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The EPA revises the “New Source Review”(NSR) provision of the Clean Air Act. Previously, the NSR required industrial facilities to install modern pollution controls when they made upgrades to their facilities. However, the provision’s revised definition of “routine maintenance” will exempt some 17,000 older power plants, oil refineries and factories from being required to install pollution controls when they replace equipment, provided that the cost does not exceed 20 percent of the replacement cost of what the EPA broadly defines as the entire “process unit.” This restriction basically allows industries to replace entire plants one-fifth at a time with no concomitant responsibility to controlling its emissions. This applies even to circumstances where the upgrades increase pollution. It is estimated that the revised rule could save billions of dollars for utilities, oil companies and others. Industry has spent the last two years heavily lobbying the White House for this rollback. [Reuters, 8/28/2003; Associated Press, 8/28/2003] New York Attorney General Eliot Spitzer promises to sue the administration, telling reporters, “This flagrantly illegal rule will ensure that… Americans will breathe dirtier air, contract more respiratory disease, and suffer more environmental degradation caused by air pollution.” [Reuters, 8/28/2003]

Entity Tags: Eliot Spitzer, Bush administration (43), Environmental Protection Agency

Timeline Tags: US Environmental Record

The Washington Post publishes an editorial by New York Governor Eliot Spitzer, accusing the Bush administration of protecting predatory lenders from state officials through use of the federal Office of the Comptroller of the Currency (OCC). Spitzer notes that since the OCC’s founding in the 1860s, its function was to monitor the records of national banks and ensure they were balanced. Yet as the current crisis in predatory lending became acute, the OCC used a clause from the 1863 National Bank Act to make all state predatory lending laws inert. In addition, Spitzer asserts that the OCC created new rules making it impossible for state officials to employ their own consumer protection laws against national banks. Spitzer continues to note that when he opened an investigation of the mortgage lending practices of several banks, the OCC brought a federal lawsuit to prevent the inquiry from moving forward. “When history tells the story of the subprime lending crisis and recounts its devastating effects on the lives of so many innocent homeowners,” Spitzer concludes, “the Bush administration… will be judged as a willing accomplice to the lenders who went to any lengths in their quest for profits.” [Washington Post, 2/14/2008]

Entity Tags: Eliot Spitzer, Bush administration (43)

Timeline Tags: Global Economic Crises

The logo for Citizens United Not Timid, with a graphic illustration representative of female anatomy.The logo for Citizens United Not Timid, with a graphic illustration representative of female anatomy. [Source: Media Matters]Republican strategist Roger Stone, the founder of a 527 group called “Citizens United Not Timid,” appears on MSNBC’s Tucker, a talk show hosted by conservative pundit Tucker Carlson. Stone’s organization was founded to oppose the presidential candidacy of Senator Hillary Clinton (D-NY), and purports to “educate the American public about what Hillary Clinton really is.” What Clinton “really is,” the organization emphasizes, is the obscenity spelled out by the group’s acronym. The group emphasizes the acronym on its Web site and on T-shirts by showing the first letters of the words in its name in boldface. Stone has appeared on Carlson’s show numerous times in recent weeks. This appearance is notable because NBC, MSNBC’s parent company, recently issued an apology for Jane Fonda’s use of the word “c_nt” on a recent Today Show appearance, when Fonda was discussing the play The Vagina Monologues. Carlson does not inform his audience of Stone’s leadership of the anti-Clinton organization. Stone has said of the organization: “[I]t’s one-word education. That’s our mission. No issues. No policy groups. No position papers. This is a simple committee with an unfortunate acronym.” Stone has said that he and a group of co-founders tried to brainstorm a name for the acronym “b_tch,” but “just couldn’t do it.” In recent days, MSNBC host Chris Matthews apologized for making sexist comments about Clinton, and MSNBC correspondent David Shuster was suspended for making objectionable comments about Clinton and her daughter Chelsea. The liberal media watchdog organization Media Matters writes, “The events of the past few weeks are part of an extensive pattern, documented by Media Matters for America, of sexism, misogyny, and other bigotry heard on MSNBC.” [Media Matters, 2/20/2008] In August 2007, Stone was forced to leave the campaign of New York State Senator Joseph Bruno (R-NY) after he left a threatening, abusive, and profane telephone message for the 83-year-old father of Governor Eliot Spitzer (D-NY). [New York Times, 8/22/2007]

Entity Tags: Joseph Bruno, David Shuster, Citizens United Not Timid, Chris Matthews, Eliot Spitzer, Jane Fonda, Media Matters, Roger Stone, MSNBC, Tucker Carlson, Hillary Clinton

Timeline Tags: 2008 Elections

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