To the People

The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or TO THE PEOPLE.

Monday, March 10, 2008

Eliot Spitzer Linked to Prostitution Ring

Oh this is rich. The New York governor, who used scorched Earth tactics as New York attorney general to terrorize Wall Street firms (he never won a case in court, they all settled out of fear) for his own political gains and to burnish his holy image, has been linked to a NY prostitution ring. The evidence against him must be pretty damning, as he has not tried to deny the allegations and is already talking about patching up his relations with his family.
In a short statement this afternoon, the Democratic governor apologized to his family and to the public but did not elaborate on his actions.

"I violated my obligation to my family and my own sense of right and wrong," he said in a one-minute statement with his wife by his side. "I must now dedicate time to regain the trust of my family
This is good news in a market that has mostly bad news. Spitzer revived the obscure Martin Act (a NY law) to circumvent federal banking law and harass companies that do business in New York so that he could build a crusader platform to win higher office. He was a nightmare thorn in the side to legitimate financial companies. I have glorious schadenfreude about this development.

Labels: , ,