Spitzer for ‘systemic regulator’
April 1, 2009
I caught him recently on Fareed Zakaria’s GPS and it struck me that he is so uniquely qualified to restore confidence in the markets.
At a time when everyone including the left (from Krugman to the HuffPo) alleges that bankers are taking over in a ‘quiet coup‘ and that even Obama’s administration has been compromised, Spitzer’s record as the tough cop is unimpeachable. He took AIG to court (dethroning Greenberg), as well as many others even as the party raged on, which made him few friends.
Unlike everyone who doesn’t make a living at an investment bank, he understands how they operate and the instruments they peddled.
The question is, would people be willing to forgive his personal indiscretions? And would Obama have the stomach to take a chance? He was never actually indicted of anything since the government found no evidence that public money was used improperly, and apparently feds don’t go after johns in prostitution cases.