Spitzer Told Us So!

Less than a year after being forced to resign due to a scandal involving a prostitute, New York’s former governor and attorney general, Eliot Spitzer, emerged from his self-imposed political exile to put in his two cents about how to prevent another economic meltdown. While one is tempted to tell the former crusader to go back to his cave, the problem is that his critique is right on target!

In a Nov. 24 op-ed in “Newsday,” headlined “Capitalism Needs Some Rewiring” (click here for the full article), Mr. Spitzer identified a trio of deep, “structural” problems that President-Elect Obama and Congress will have to tackle, citing “misconceptions about what a ‘free market’ really is, a continuing breakdown in corporate governance, and an antiquated and incoherent federal financial regulatory framework.”