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I know you're all dying to hear my thoughts on Gov. Spitzer's recent admission that he had sax with portstitutes. That's because as soon as you heard about it, you changed the channel and skipped the infinite blathering that filled every news orifice in all media so that you would not be adequately sick of it until I had had my say.

On an investing website, to be sure, such an enemy of Wall Street (and investing in general) as Gov. Spitzer will surely be reviled and scorned at any opportunity. And yes, he was a bad AG and a bad governor, and now it turns out that he was a bad husband and father. But let's cut him some slack--he's had a really bad day. How would you like it if you destroyed lives and fortunes to make a name for yourself and achieve fame, popularity and political power, and you had sox with prostatutes because your wife was holding out on you because you're ugly, and not long after you become governor you're about to get caught in some of the sleazy things you've done, and you're forced to admit it to "get out in front of it" and people on CAPS were making fun of you? You wouldn't like it, I'd wager.

So let's not bash poor Mr. Gov. Spitzer, though we may be tempted because he was a terrible AG and Gov who never showed respect for the rights of others. Just leave hm alone, I beg you.

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Once again: what was so bad about Gov. Spitzer's affair?
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Unless you are being sarcastic, I tend to disagree with you regarding Eliot Spitzer.  It seemed to me, from what I read, that he did a lot of good.  Through lawsuits against the brokerage houses and mutual fund managers, he did a lot of investigations that the SEC should have been doing, forced a lot of reforms that the SEC should have mandated, exposed a lot of shady deals that the SEC should have stopped, and generally did a lot of the work that the SEC should have been doing to protect the American public, (regarding "front trading", "back-dating trades", etc.).  If it wasn't for Eliot, a lot of things that should have never been going on might still be going on.

As for how good of a governer he is, I haven't a clue, as I haven't followed him since he became governer.  But from what I read about him while he was AG, it seemed like he was doing a lot of good things for the investing public, (unless of course you were a shady trader, a shady fund manager or some other Wall Street shyster), and was doing the SEC's work for them since the SEC didn't seem to want to bother doing it.  In fact, from what I read, the SEC only shut down a lot of these illegal and "breach of fiduciary responsibility" activities after Eliot made them look bad by all his lawsuits.  Now granted, Eliot might have been a "news hound", always trying to get his name in the paper and on TV, but at least, from what I have read, he was getting his name in the paper and in the news for good actions.

Just my opinion.  As for his having sex with prostitutes, I leave that up to his wife to punish him for.

Craig 

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"As for his having sex with prostitutes, I leave that up to his wife to punish him for."

Craig, it does not work that way. Unfortunately, this kinda behavor is illegal in 49 states (and a significant part of the remaining state). And therein lies the problem: a guy who has been enforcing laws with zeal appears to be a law breaker himself. It is like that conservative Senator who got caught seeking sxe with a man in a bathroom stall: HYPOCRITE. 

Believe me, I hate to say this because Spitzer might have made a good presidential candidate for the Dems in the future... 

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You're all wrong. I was being sarcastic about going easy on him. For one thing, the shareholders he was "protecting" deserve their losses for not paying attention to their holdings in  much the same way that people being foreclosed on deserve what they get for borrowing loans they cannot repay, and failing subprime lenders deserve to fail.

Furthermore, he wasn't just having sex with prostitutes (I didn't even try that with the language filter), no one knows where he got the money to do it. He might have expensed it to the government a la those corporate kingpins he was self-righteously prosecuting. (Even if you're pro-legalization, you have to see something wrong with that, EScrooge).

And you prostitution legalization folks, Spitzer was one of the leading tobacco lawsuit A'sG. (That's why I have the MO and RAI tickers listed as related.) How do you like him now?

And he was screwing AIG shareholders for something or other... basically no good reason. Though they were gonna hurt from the subprime crap anyway.

He didn't care whether he was protecting shareholders or just robbing us of our rights; as long as he was glorifying himself and advancing his political career, it was all good with him.

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Come on, get realistic. Are you saying a governor of NY state is such a poor man that he can't even shell out a $3500 pocket change to have some fun?

 

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If he did, fine. But I don't think he did. Prostitution is illegal in NY, so he probably engaged in some shady money-moving to do it.
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