Less than a year after resigning as New York’s governor due to his scandalous involvement with a prostitute, Eliot Spitzer has emerged from political exile to put in his two cents about how to prevent another economic meltdown. While one is tempted to tell the disgraced, former crusader to go back to his cave, the problem is his critique is right on target!

In an op-ed last month run by the Washington Post and Newsday, “Capitalism Needs Some Rewiring,” Mr. Spitzer identified three “structural” problems for President-elect Obama and Congress 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.”

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