Monday, March 10, 2008

A Pictorial Summary of The Spitzer Scandal

I'm not exactly a big fan of Elliot Spitzer. In fact, I'm taking part in what Barry Ritholtz called "A schadenfreude festival on Wall Street" about the whole thing. While I think he mae some small positive impact by shining a brighter spotlight on some agency issues previously kept in the dark (a view shared by Nell Minow of the Corporate Library), I think he caused far more harm by using his office to browbeat firms for his own political gain. He also came off as a vindictive, somewhat megalomaniacal S.O.B. who regularly used his office to threaten those who disagreed with him.

So far, Long or Short Capital has the best summary of the affair (in pictures, yet) here.

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