To Correct the Record: Wall Street Didn't "Hate" Eliot Spitzer

[Mike03]

I know this post will sound terribly naive, but I really admired Eliot Spitzer, just as I admired Patrick Fitzgerald. There are not many legal icons to look up to nowadays, but these two seemed to qualify.

I worked with my father, who is a money manager and superb investor. He also admired Spitzer, even though anyone involved in investment or Wall Street is supposed to hate Spitzer, according to CNN. Well, that is not true. Ethical investors loved Spitzer. He seemed to be doing the right thing.

In any event, tonight I'm speechless. Anyone who had the intellect and gumption of this man, Eliot Spitzer, should probably have also had the self-restraint to never engage in behaviors that he would prosecute others for engaging in. This is just a very sad day. I don't take any pleasure or perverse glee in seeing this man's downfall. But by the same token, it's morally dishonest to pretend that he is some victim.

He victimized himself, his family, and his supporters.

On the other hand, I don't want to judge him, since I'm not perfect myself. What I'm trying to say is that I'm incredibly sad tonight.

[Mojambo]

1. I'm not sure the Democratic party can afford to lose him

There's not many people in the party as concerned with cleaning up corporate behavior as Eliot Spitzer.

Too bad he let us down.

[bbinacan]

2. I beg to differ

I was a Financial Advisor and an Associate VP with a major Wall Street firm. Spitzer was an extortionist who was paving his way to the governship. He locked his jaws on one of the largest and most respected mutual fund companies in the country. The company settled. I asked this company why they didn't fight it and they said it was easier to pay the fine and make Spitzer go away. BTW, this company had done nothing wrong and Spitzer's office said that if they didn't pay the fine they would keep on investigating and investigating and investigating.....

Spitzer is a scumbag. It's poetic justice that he may be charged with crimes including tax evasion and money laundering. I'm just sad that he is a Democrat.

[spanone]

3. i saw a 'wall street rep' on msnbc saying he hoped they had an especially hot place in hell for him