Eliot Spitzer resigned after only 14 months as New York's governor in the wake of a prostitution scandal. Yet in spite of the negativity surrounding Mr. Spitzer's exit from politics and his controversial career as a crusading attorney general, he did some very good things for insurance and for the financial services world in general, although many innocent independent agents paid an unfair price.
Mr. Spitzer cleaned the clocks of insurance and brokerage firms "allegedly" committing the serious crimes of bid-rigging and cooking the books. (We must use the word "allegedly," because under the settlements, the companies did not admit guilt.)
However, Mr. Spitzer's legacy is an entirely different matter.
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