The irony of Eliot Spitzer

Posted by: Diane Brady on May 29, 2007

Does anyone else see an irony in New York Governor Eliot Spitzer’s new commission to help New York remain a vibrant financial capital?

This is the same man who went after Wall Street with such relish during his days as Attorney General. Amid the praise for his efforts to clean up questionable practices, a number of critics questioned his methods and argued that he did as much damage as good during his tenure.

Certainly, he beefed up regulations and helped contribute to the environment that bred Sarbanes-Oxley—the regulations that are allegedly now scaring some businesses away.

And the list of executives clamoring to get onto the new commission reads like a Who’s Who from companies that were treated to Spitzer’s harsh scrutiny: Martin Sullivan of AIG, Goldman Sachs’ Lloyd Blankfein, Charles Prince of Citigroup.

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Reader Comments

Jim Kinetz

May 30, 2007 09:42 AM

Eliot is a man of low character. His strategy is to get a fast track to political power by prosecuting marginal cases in order to get his name and face published in the media. I am not a NY resident, however in any future national race, my vote would go to anyone who runs against Eliot.

kevin

May 30, 2007 10:14 AM

Yeah i see him as a hippocrite. Coming down on those poor mutual funds who were buying after the close to secure mass profits at the expense of the investors. Oh the sorrow of those insurance companies giving kickbacks.

In reality it seems like he is even keel. Wants companies to compete fairly. How horrible is that.

clay

May 30, 2007 10:45 PM

Spitzer's actions have always been about advancing his political career.

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How can you manage smarter? BusinessWeek writers Nanette Byrnes, Patricia O’Connell, Emily Thornton, Matthew Boyle, Michelle Conlin and Diane Brady synthesize insights from the brightest business thinkers, critique the latest management trends, and comment on leaders in the news.

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