Sex Scandal Coverage, Medicare Privatization and Open Phones

05/23/11 Robert Lorei
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Good afternoon, welcome to the Last call. I'm Rob Lorei. Coming up Danny Schechter, one time news director at WBCN-FM in Boston and former staffer at ABC News. He recently wrote an op-ed about the recent widely publicized sex-scandals in which he said:

"My colleague Mike Whitney asks: "So, what are the chances that Strauss-Kahn will get a fair trial now that he's been blasted as a serial sex offender in about 3,000 articles and in all the televised news reports?

"Do you remember any Wall Street bankers being dragged off in handcuffs when they blew up the financial system and bilked people out of trillions of dollars?"

The answer to both questions is certainly "Non," in French, or "No," in English, but there's more to the connection between Sex and Wall Street. Without commenting on the evidence in this case - which has been asserted, not proven - there is a deeper context that is being ignored.

I call it the Testosterone Factor in "The Crime of Our Time," my book about how Wall Street criminally engineered the financial crisis.

Interesting, isn't it, that there have been so few references to the link between the pervasiveness of salacious sex and the highly-charged life of a class of "entitled" wealthy bankers who live off of others with few rules or restraints.

There is also often no news about that, or the practices of the IMF, which is often accused of raping poor and vulnerable countries with unfair structural adjustment programs. The IMF chief is now experiencing what many in France feel is an unfair "personal adjustment program" at the hands of the New York cops and courts.

Odd, isn't it, that there have been so few references in the coverage also to Eliot Spitzer, the one-time "Sheriff" of Wall Street who was denouncing criminal financial practices by the Bush administration when he was brought down in a sex scandal.

Strauss-Kahn had also been in the news lately as a possible Socialist presidential candidate to topple our pal Sarkosy in France, as well as a critic of US banking practices. He recently outraged official Washington by asserting that the Chinese economy was surpassing ours.

In both cases, powerful forces have motives to bring down such potential reformers, but, it is also true that in each case these men themselves were, on the surface anyway, sexually obsessed and prone to illegal behavior that put them - and others - at risk."

"News Dissector" Danny Schechter writes about the issue in his book, "The Crime of Our Time," and in his film "Plunder - The Crime of Our Time". He joins us live. later we'll talk about plans to privatize Medicare and open the phone lines.

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