Not that anyone really cares, but...

[tw]

Originally Posted by richlevy

I'd rather have a loose cannon like Spitzer running around than the complacent jackasses that let Tyco, Enron, and Singer happen.

As it turns out - and as has been the trend of his predecessors - Spitzer was again right on the money when everyone was in denial about crimes committed in AIG and other insurance companies. AIGs own investigation later admitted that bid rigging was routinely conducted by a large number of their own employees. One can appreciate why stock brokers so hate Spitzer and other who have repeatedly exposed corruption in the finance markets - that even the NYSE refused to investigate. Don't fall for the propaganda from stockbrokers. They have too much bias to be honest about Spitzer and Spitzer's predecessors.

One reason why stockbrokers so hate Spitzer is that NY State will investigate crimes that the SEC will not touch - for suspicious political reasons. This refusal to investigate was blatant especially under the dynasty of Harvey Pitts who refused to investigate Enron, Global Crossing, et al AND refused to take more a substantial budget increase from Congress to expand such investigations. So who then does investigate crime in the finance markets?

Over the many decades, it is almost always NY State that prosecuted people like Michael Milken, Martin Siegel, and Ivan Boesky.