This is the beginning of the end for the man who would be king. Mr. Elliot Spitzer loses big time and blows chunks. Elliot Spitzer’s reputation is wiped out with a single case. One of his most celebrated cases in fact, as a Manhattan jury acquitted Bank of America’s Ted Sihpol on 29 of 33 counts over the charges of grand larceny and fraud. He was accused of helping a hedge fund trade Mutual Fund shares after hours (4PM). The remaining accounts became a deadlock jury. He walks scott free since he committed no crimes.
It sure appears that Elliot Spitzer’s days are numbered and that he made up the whole case to further his political interests to become Governor of New York. Some say Elliot Spitzer is the sleaze from hell and he is as crooked and corrupt as they come. Others agree and a few just do not have the cranial capacity to hold that opinion. Such abuse of power has elevated him to infamous status. The often labeled arrogant, self important, meglomanic gone bureaucratically ballistic man will probably be headed for a sharp fall now that everyone knows the truth, that his cases are simply bogus.
In the New York Post the headline reads “DEMS HOPE BIG SETBACK IS FORGOTTEN BY ELECTION DAY” By FREDRIC U. DICKER State Editor Albany. Fredric the top New York Editor goes on to say;
“Attorney General Eliot Spitzer’s reputation as the Sheriff of Wall Street suffered its first major blow yesterday, but just how serious the damage will be to the highly ambitious Democratic gubernatorial hopeful remains to be seen.”
Elliot Spitzer seems to be continuing his fishing expedition, going after big names and huge companies. Apparently he does not care if the charges are relevant only that his name is in the headlines everyday. Many on Wall Street are glad to see the tyrant dictator “Chairman Kim Jong Il” type get a reality check. Others compare what he has done to free enterprise to that of the 9-11 attacks of Osama Bin Laden. After all his two biggest cases have “American” in their names. Elliot Spitzer has single handedly done more to hurt America’s competitiveness in World Markets than the trade deficit with China
Many junior regulators who file bogus cases and emulate him will have their little feelings hurt now, but they know that the courts will no longer put up with sort BS. This is a good day for America to right the wrongs of one Elliot Spitzer as we reign in the regulatory abuses of power.
“Lance Winslow” – If you have innovative thoughts and unique perspectives, come think with Lance; www.WorldThinkTank.net/wttbbs