Eliot Spitzer made a career out of going after the bad guys, but after the news of this week it has been shown that he was one of the worst guys of all himself. Spitzer started out as the New York attorney general, going after dozens of Wall Street bigwigs and major companies. Spitzer took it upon himself to change the way wall street worked, and as one might expect that wasn't particularly popular on the street.
News broke early Monday morning that the now Governor Spitzer was now in some deep trouble of his own. Spitzer has been tracked by the Feds through wiretaps for months and has been shown to be a common participant in a major prostitution ring. Spitzer apparently took a real liking to a girl named "Kristen", who it turns out is actually Ashley Alexandra Dupre. Spitzer allegedly spent up to $80,000 on this high-priced prostitution service termed "Emperors Club."
Spitzer has now begun to take the fall for his horrible and ridiculous actions. Spitzer resigned on Tuesday from his position as Governor of New York. Spitzer has likely just begun to see the results of his pathetic behavior. He will likely faces multiple charges, and his defense team will have a tough act to sell.
As I mentioned earlier, Spitzer had very few friends on Wall Street, and it certainly seemed that he relished the fact that he was despised by the street. In fact on Tuesday when Spitzer announced his resignation the street couldn't help but let out a massive cheer. The man who had changed their practices so much was now in deeper trouble than almost any of them have ever been in.
Not everything that Eliot Spitzer did was bad for the street, as I truly believe there were some changes that were positive, but there is no other way to describe Spitzer than a self-righteous man who got what he deserved. The fact is Spitzer has always said he is all about looking out for the little guy; this story proves he is nothing but all about himself. Spitzer has gone about his life taking pride in watching others take the fall, now he gets to be the one who does the falling.
Spitzer clearly exemplifies a hypocrital lifestyle. While setting out to straighten out others he failed to first examine his own life and hold himself to appropriate acceptable standards. He should be held accountable for his actions and not get special treatment because of the position he held.
I feel sorry for his wife and even more so for his children.
BCS
Posted by: BCS | March 13, 2008 8:07 PM | Permalink to Comment