More on the potential conflict between the corporate watchdog role Eliot Spitzer has played for the last eight years and the economic cheerleader role he’s about to take on:
Here’s a clip of Spitzer wearing his attorney general hat, defending the tough corporate accountability rules that Congress passed in the wake of his Wall Street investigations.
“When they limit our capacity to prosecute, they are doing something egregious and will harm investors across the nation.”
Spitzer is in his element here, making the case that the markets flourished when government stepped in to protect investors. But the argument also is putting him at odds with Chuck Schumer and Mike Bloomberg, who think the crackdown is making it harder for New York to attract business.
Update: Manhattan Institute’s blog has more on Spitzer’s position, saying it is “self-defeating.” because of “the state’s reliance on Wall Street, which provides more than 20% of all tax revenues.”
– Azi Paybarah