Corporate America is Terrified of Eliot Spitzer!

[WhoCountsTheVotes]

New York Attorney General Eliot Spitzer has the multinational corporations wetting their pantsuits. He's been repeatedly attacked by the Wall Street Journal, as the apologists of corporate crime spin, hem, and haw excuses for scams, ripoffs, bribery, and corruption that Spitzer keep exposing. It's not so much that Spitzer is prosecuting these corporations - after all that is his job - it's that he is so damned successful at winning and muscling reforms and concessions. They aren't used to Democrats playing so rough.

Yesterday the Journal printed their hand-wringing right on the front page. "As His Ambitions Expand, Spitzer Draws More Controversy". Since instead of the usual slaps on the wrist, Spitzer is delivering hits to the face, the PR departments are crying foul. Corporate America is not used to being treated this way, by a Democrat no less!

No one bats an eye when the poor and working class gets scammed by banks, check cashing joints, taxes, and unfair prices, but when the Mutual Fund Industry starts ripping off middle class people's 401ks, everyone takes notice. From Enron to Worldcom to Walmart to Halliburton, the corruption and criminality of multinational corporations, most of them based in the US, has slowly been revealed to the public, thanks to people like Spitzer. The Republican cronies at the SEC and Treasury and Commerce and the Fed just did their best to cover everything up. Spitzer is the one that's doing something, twisting arms, and making things happen. I hope the CEOs understand that we're just getting started.

I'm supporting Spitzer for whatever he does next. A true American hero and a credit to the Democratic party. If I expect anyone in America to actually put one of these crooked CEOs in prison where they belong, it's Spitzer.

[Cha]

1. As well they should be....

Eliot Spitzer is a Tiger with a tie!

[many a good man]

2. He is our avenging archangel

He can be our saviour. The corruption and fraud in our corporate system is threatening to implode and destroy the American dream. It has to be saved from itself. We have to be saved from it.

Spitzer is the ONLY man I see on the national stage capable of slaying the dragon. He is the right man at the right time. Bush must lose so he can be our AG and save our country.

[WhoCountsTheVotes]

4. no way, I want him as Governor of NY

8 years, then the Presidency.

[Bozita]

3. Spitzer absolutely terrifies the cons. He's doing the job of the SEC...

...on a shoestring budget.

The Dumbya administration should be ashamed at being outdone by a New York lawyer and a staff of a dozen attorneys.

Spitzer is one of my heroes.

[lostnfound]

42. They're not ashamed; they are angry and are planning to stop him. n/t

[PsN2Wind]

5. If any of the candidates

could get his commitment to take the AG position in their cabinet, I, for one, would consider that as a BIG factor in the primary.

[Myra]

6. How does this man keep going?

Walking uphill against hurricane force winds.

[AP]

12. because he refuses to bring criminal charges against anyone.

That's how he keeps going.

I agree that this man is doing the lord's work with these convictions. But I think he made one little tiny deal with the devil so that he could be governor.

[msmcghee]

13. Did you see his explanation for that on NOW last night?

He said - that until last year the SEC had relaxed the rules so much that they could all claim they were following the rules - as they were being implemented.

He said - through suits and court action they have now forced the SEC to change the rules and make them tighter again. That's why we will soon be seeing many perp walks associated with the Mutual Fund scandal. i.e their crimes were committed after the rules were tightened.

He said - that was their primary focus - that nothing would change until these criminals started doing time.

IMHO he'd make a great atty. general. Nice picture.

[AP]

15. No. Sounds he's tightened up his explanation.

Three weeks ago he said that after long, difficult arguments in his office, they didn't persue criminal charges because their goal wasn't to put anybody out of business.

I say, put someone out of business. Put someone in jail. He'll stop a lot more crime if that happens.

His new explanation is nice, but it's not what he said up until three weeks ago.

[JohnKleeb]

17. AP whos on your list for AG

because your goal is for John Edwards to become pres, and Edwards is on my shortlist as is Spitzer for AG. Personally if we got either of those two, it would be great.

[AP]

21. I want Spitzer to be Gov of NY. Spitzer is consumate NY'er. Carro...

...should write a bio of this guy in about 20 years. I think NY'ers really need Spitzer as gov as an antidote to Pataki years. NY'ers need to get back in touch with their great liberal roots, and I think Spitzer is EXACTLY the person to handle the introductions.

I see Spitzer as governor as the begnning of a new golden age of NY liberalism. Can you imagine an America with a president like Edwards, and then governors like Granholm and Spitzer, and Senators like Clinton, Leahy, Schumer, Stabenow. That'd be a nice world.

As for, AG I think Jennifer Granholm is most in the spirit of what I think a good AG should be all about. Her record in MI as AG and Gov reveals a keen understanding of how Democratic principles are expressed in economic and social justice. But, I also want her to finish out her term in MI (so maybe she could be AG in a second Edwards administration.)

I'd love to see Lynn Rivers get another chance at national politics. She has a law degree. Maybe she's not high enough profile, but I think she'd be good as AG.

Doe Max Clelland have a law degree?

I'd have to think about this a little more.

How 'bout Hal Ford?

[JohnKleeb]

25. I dont know if Cleland has a law degree

Anywhom I put him on my list for Vets affairs should he not run for senate again. I dont know, but whos Ford? and you got some good choices.

[AP]

34. Hal Ford is a Congressman from TN. He's young, attractive, is a lawyer...

...and could be America's first black president.

[msmcghee]

20. From his demeanor . .

. . and from what he said last night - I doubt he was interested in going easy on them.

I expect their conversation was focussed on their long range goals of cleaning up the system and they were making tradeoffs to achieve that goal. He's a pit bull IMO and I doubt those guys would want his teeth in my their butt.

But I didn't see the interview that you did. In any case - it's good for the good guys.

;-)

[BootinUp]

26. Wrong solution

These corporate scum bags are about money, and the leaders of the bad acting rarely get punished in jail, they pick a weaker scapegoat. I would much rather see reforms that reduce the money going to all the scumbags from illegal trading.

Sounds like Spitzer is on the right track and we need guys like this at the highest levels of government to fight for the little guys.

[AP]

35. Yeah. They're about money. They won't stop if they can get more money

from breaking the law than they get fined. They'll alwasy do the cost:benefit analysis UNLESS there's a risk of going to jail.

[WhoCountsTheVotes]

37. I like to see structural changes

I'd buy popcorn to watch some three-piece conman do the perpwalk, but if I understand the settlement correctly, they have to disclose fees at the least and it removes some conflicts of interest. I think the system as a whole would rather sacrifice a few cronies to a country club prison than actually have to follow specific rules and regulations, and be accountable to the democratic government.

Certainly we need to have people like Lay in prison, don't get me wrong.

[AP]

39. False dichotomy. You can have both. In fact, criminal convictions will get

you the reforms too.

[WhoCountsTheVotes]

40. lock 'em up, I won't argue AP

You're right! I'm just glad something is happening, I'm determined to make the best of it.

The Journal attacked Edwards the same week as Spitzer too, these are obviously people that they don't want getting attention.

[AP]

41. I totally love Spitzer.

But I think even he realized that his comment about why he wouldn' criminally charge people on (I believe) 60 Minutes wasn't going to satisfy people like me. So if the real reason was the reason he stated above, I'm happy with that. I trust this guy. But I still have a suspicion that if he put someone in jail, corporations would punish him and he would never be governor.

OK. It's really complicated. Bottom line: Spitzer is totally heading in the right direction, and he's doing more to preserve the democratic vision of America that FDR started than just about any politician in America today.

[KittyWampus]

7. Thank You For Writing This!!

and HERO seems very apt.

[Woodstock]

8. The more I hear, the more I like this guy

He's got a certain charm, too, that's never a bad thing for a politician to have.

[lostnfound]

9. Bush Inc. is passing rules to stop him. - link

An "In These Times" article http://inthesetimes.com/comments.php?id=454_0_2_0_M started out like this:

The Bush administration is quietly seeking to roll back oversight of the banking business and the scandal-riddled securities market through two pending proposals—a planned rule change for the banking industry and a house bill—that diminish the ability of states to police banks and stock brokers.

The plans are worrisome because the federal government has been largely MIA when it comes to cracking down on corporate crooks in the post-Enron era. While the feds have grabbed headlines with a few high-profile indictments, state law enforcers—most notably New York Attorney General Eliot Spitzer—are taking a far more active role in purging Wall Street of con artists and thieves.

[lostnfound]

18. To reiterate: WOULD NULLIFY STATE banking laws stricter than federal regs

How's that for hypocrisy from our "give-power-to-the-states" republican friends?

[WhoCountsTheVotes]

23. Bush is pushing a special law to stop Spitzer?

Republicans are immune to hypocrisy, you know that!

[GreenPartyVoter]

10. Glad there are other people in a position

to do something about this corporate nonsense.

[lostnfound]

19. He won't be in a position to do it for long. See post #9.

[AP]

11. I think Spitzer cut a deal with corp america: no criminal convictions and

you can be governor some day.

He has the LAMEST excuse for not persuing criminal charges against anyone.

I guarantee you that ONE brokerage exec going to jail would do way more good for our economy than 100 civil fines.

[msmcghee]

14. See #13 above. n/t

[WhoCountsTheVotes]

16. jail would be good

Your theory sounds very plausible. What I'm happy about is Spitzer has actually gotten reform - the current fight is over a settlement that regulates fund fees. This isn't as glamorous as jail time for rich people, sure, but it's a real, tangible reform that will do some good. The WSJ is crying foul over the "principles" and "inteference" and how Spitzer is out of place. The fact that they are whining shows he's hurting them. Yeah, I'm just going to be happy about it, best news I've heard in a while!

[spanone]

22. Everyday he is in office, he shames Ashcroft. Thanks Mr. Spitzer

[randr]

24. Spitzer on Now last night w/ Bill Moyers

http://www.pbs.org/now/transcript/transcript246_full.html

[MoonRiver]

27. I would just love for him to be Clark's running mate!

What a combo that would be! :kick:

[WhoCountsTheVotes]

28. Clark/Spitzer?

I wish

[MoonRiver]

29. Shall we start a draft Spitzer, for VP, movement?

[salin]

30. I love him - if (when) transcripts from NOW are available - folks should

read it.

But to remove him from the role he has carved out - pushing the SEC to do its job - exacting changes in how regs are read and enforced - would be harmful to the work he is doing now. BTW, the transcript from NOW addresses the explanation for the legitimate concern raised by AP earlier on this thread.

NY is the perfect springboard for him to usher in a new age of ... the term is escaping me - but the politicians and journalists who took on abuses of corporate power back after the turn of the last centure... Why is NY the perfect springboard? Because the financial players are centered in the state - so the issues are state as well as federal issues. I think he would be a phenominal NY Governor - and that could well be a springboard for a presidential run somewhere in the future. Would hate to see that derailed by a premature run as VP - where even if VP he would be less high profile - and pulled away from the work that he is currently doing. His work is TOO important to us all... to have him serve as a 'balance' for a major dem candidate, and there are many qualified individuals who could play that role (of VP.)

[WhoCountsTheVotes]

31. whatever happens, let's make sure what he's doing gets attention

However it turns out, I'd like to make sure that when Democrats aren't afraid to take on wealthy interests they get rewarded. He's got my vote now, for whatever he runs for.

[salin]

32. Absolutely agreed. The thing is... I think many in the financial world

knew things were getting out of wack... and actually support him (as some actually supported the work of Leavit (sp?) as head of the SEC.) I think the major collapses of some of the largest corporation - and the stripping naked of accounting (and now we learn other financial) practices that worked to corrupt the transperancy upon which the whole system works - concerned a great number of people. Not just liberal democrats. I don't think we are there yet, but without some real changes - I predict that within the next ten years we will see the advent of some serious problems followed by more serious fixes (think new deal interms of regulation). Right now the greed factor (what folks can extract from the economy in the short-term) seems to placate many of the monied folks who are still supporting bush, but who are also growing concerned about the long-term soundness of our economic machinery (including markets)... the rate of escalation of the problems under bush and the GOP congress... if it continues... will eventually lead to more of those folks backing away from these policies - and looking to someone like a Spitzer who can exact some of the needed changes. Of course they are likely to bitch and moan in the public's eye - while quietly give money to support his efforts.

[MoonRiver]

33. I completely understand your sentiment and have read it elsewhere.

New York DOES need Spitzer. You've been through so much, I'm sure you don't want to let go of this wonderful man, who is serving your state just marvelously.

My question is, does the country need him more? It may "only" be the VP position, but his being on the ticket could help save our beloved nation from the forces of rightwing fascism. Plus he would be in a position 8 years from now to move into the presidency. Personally, I see visions of a Renaissance following the Dark Ages.

[salin]

38. I am not in NY... and I think in his current capacity - and as gov of NY

due to his focus and current work - that he would be serving the whole country. There are many other VPs candidates at this time who would do a great job - and would balance various candidates... top on my favorite list right now is Former Fla Governor and current Senator Bob Graham.

Spitzer, in his current capacity, has done more to break ongoing malfeasence in the financial industry than anyone else - and pushing those issues into the mainstream media so that we are all growing aware. I think he would continue this if he were high office holder in NY - due to the importance of the financial industry to NY. Thus as NY Governor he would serve the state - and the country. With that under his belt... he would be primed to take it to a national level. He is, imo, one of the major leaders of the future. Would hate for political expediency (eg VP candidate now - when there are others who can do the job well) that we cut off his current and future roles.

[fishnfla]

36. excellent post

finest kind. This dude Spitzer is getting it done and going places.

[Jonte_1979]

43. The nation's next AG

Mark my words.