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Monday, August 26, 2013

Opponents Have Cow Over Spitzer Run

The Wall Street Journal published an editorial last month questioning Eliot Spitzer's candidacy for NYC Comptroller. In 2008, Spitzer abruptly forfeited his position as state governer after the public discovered that he had used an escort service, but the WSJ editorial directs its focus primarily to Spitzer's actions during his tenure as the New York Attorney General. While serving in that position, he appeared to be a figure capable of taking on interests in Wall Street.

However, Spitzer faced criticism of abusing his power, with figures like the former chairman of Goldman Sachs, John Whitehead, claiming that the then-AG Spitzer issued threatening remarks to Whitehead after he had written an positive editorial piece favoring Hank Greenberg who, at the time, was the CEO of American Int'l Group (AIG), and one of Spitzer's targets. Spitzer allegedly told Witehead that he would "Pay the price" and that it was "only the beginning...you will pay dearly for what you have done."

Back in 2005, Thomas Donahue was the current president of the U.S. Chamber of Commerce, and was vocal in his disapproval of Eliot Spitzer, going on-record with the following:

"Spitzer's approach is to walk in and say, 'We're going to make a deal, and you're going to pay $600 million to the state, and you're going to get rid of this person and that person, and if you don't do it by tonight, we're going to indict the company'...It is the most egregious and unacceptable form of intimidation we've seen in this country in modern times."

While the concerns about Spitzer are in no short supply, his political identity seems to have regained its footing. As of this month, Spitzer holds a 19-point-lead among projected voting Democrats in the primary that will be held on September 10th.

Other News: Tax Court Has a Cow Over Estate Planning