New York Gov. Eliot Spitzer, who crusaded against corporate malfeasance, apparently lived in a glass house. He should immediately resign in the wake of his near-admission that he was caught up in a reported prostitution scandal.
Spitzer made a somewhat
perfunctory televised mea culpa, saying, "I apologize first and most importantly to my family. I apologize to the public, to whom I promised better... I am disappointed that I failed to live up to the standard I expected of myself."
That's just not good enough.Spitzer, who reports allege is AKA Client 9, was captured on a federal wiretap, "confirming plans to have a woman travel from New York to Washington, where he had reserved a room," according to the
New York Times, which broke the story. He was no passive victim here.
The irony here is inescapable. Spitzer made a national name for himself crusading against the evils of Wall Street. He had a knack for getting some of the biggest companies in the world including
Merrill Lynch & Co. (NYSE:
MER),
American International Group Inc. (NYSE:
AIG) to knuckle under to his demands without having to try his case in court.
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Analyst upgrades:
Why do we have a weak dollar?
Holiday hiring slow for retailers
Closing Bell: What sell-off? (AIG, ABK, EPR, MBI, JAVA, ORCL, ERTS)
