Filed under: Market matters, Merrill Lynch (MER), Amer Intl Group (AIG), Politics
New York Gov. Eliot Spitzer, who crusaded against corporate malfeasance, apparently lived in a glass house. He should immediately resign in the wake of his admission that he was caught up in a prostitution scandal.
Spitzer made the prefunctory televised mea culpa, saying, “I apologize first and most importantly to my family. I apologize to the public, to whom I promised better…I am disappointed that I failed to live up to the standard I expected of myself.”
Spitzer, AKA Client 9, was captured on a federal wiretap, “confirming plans to have a woman travel from New York to Washington, where he had reserved a room,” according to the New York Times, which broke the story. He was no passive victim here.
The irony here is inescapable. Spitzer made a national name for himself crusading against the evils of Wall Street. He had a knack for getting some of the biggest companies in the world including Merrill Lynch & Co. (NYSE: MER), American International Group Inc. (NYSE: AIG) to knuckle under to his demands without having to try his case in court.
Continue reading Eliot Spitzer should resign immediately
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