Tag Archives: spitzer

Good riddance to Spitzer

Enrico and Gladys, etc., are in the old country. A few days ago, we toured London Bridge, and got to go up on the old elevated pedestrian pathways, which used to allow foot traffic on the bridge even when the drawbridge was up. You get a terrific view from there of the City of London, and the dome of St. Paul’s.

You simply cannot miss the fact that the City is liberally festooned with construction cranes. I did not count them, but i cannot believe there are fewer than 20 cranes.

Let’s face it, London has already supplanted New York as the financial capital of the world. There are many forces behind this: the increased rationalization of financial operations in Europe, the rapid industrialization in Asia and its capital needs, the collapse of the dollar, and, not least, the extremely hostile regulatory environment in the United States, headlined by Sarbanes-Oxley and Elliot Spitzer.

There has been an unsustainable, disastrous move to criminalize what was formerly simply bad business practice. Thank god Spitzer has been consigned to the memoir desk of history.

Sarbanes-Oxley needs to be trashed. No one in his right mind would float a company in New York right now. The banking sector so completely revolves around this simple generating event that Sarbanes-Oxley is essentially an open artery in lower Manhattan, gushing blood into the Atlantic.

The Whoremonger

We have a new contestant in the ratsocrat sleezeking festival: Elliot Spitzer, henceforth known as the Whoremonger. Check out the BAOJ piece here.

I suppose, if the stories of Barney Frank, Splash Kennedy, Sheets Byrd, and William “Cold Cash” Jefferson are any guide, Elliot Spitzer will be feted by his fellow ratsocrats as some kind of courageous victim, his fellow ratsocrats will scoff disbelievingly at suggestions that perhaps he ought best to retire from public life, and everyone concerned will just express complete ignorance of any reason why anyone ought to be embarrassed. It’s a private matter, they will say.

A person has only one character, which he uses in his public and his private life. A whoremonger is not going to be an upright, virtuous public servant. No one has any right to be surprised if a whoremonger proves to be morally corrupt in his discharge of his public duties.

The GOP has disappointed me mightily in the area of rectitude during the last four years, but I will say this for the GOP: when one of theirs goes off the reservation, he is personally and viciously eviscerated by his fellow Republicans. A real man shoots his own dog.