Why did Spitzer have to resign over paying hookers when he was not charged with any crime and other politicians before and after have done far worse? The FIRE economy interests wanted him out of the way.
Spitzer made a name for himself by going after mutual fund companies, a stock exchange, and his crown jewel achievement, destroying the Greenberg family legacy due to bid rigging and contingent commissions. Hank Greenberg was the patriarch of an insurance family that controlled a significant bit of the insurance market with him leading AIG as the heavyweight insurer and his sons running March + McLennan (huge broker) and ACE Limited (gigantic foreign firm).
Hank Greenberg was a well connected man and, if his wikipedia entry is to be believed, was offered positions in the CIA and had Henry Kissinger as a friend and partner.
To go after Wall St. (smaller targets not TBTF) is a challenge. Adding in the insurance conglomerates, it is astounding that Spitzer forced Greenberg and his son out (he says otherwise). At Greenberg's age, it was the final taste in his mouth from his career. If he took out Greenberg, who in the FIRE economy could stop Spitzer?
http://28sherman.blo...zer-resign.html
Edited by stocks, 23 February 2013 - 02:43 PM.
