Corporate America Revels in Spitzer's Fall

But AG says he's not ready to commit to seemingly inevitable run

(NEWSER) - As David Paterson officially deep-sixed his non-existent chances of a second term in New York yesterday, all eyes swung around to Andrew Cuomo. But the state's AG and former gubernatorial candidate was cagey, issuing a statement calling for Albany's continued function "through this difficult time" and noting that "I will announce my plans at the appropriate time." More»

(NEWSER) - Is Client No. 9 getting back into politics? Eliot Spitzer is considering a 2010 bid for his old job as New York’s attorney general, sources tell the New York Post—assuming Andrew Cuomo vacates the post to run for governor. “My record as governor was disappointing,” Spitzer reportedly told friends, “but the voters will remember my excellent two terms as attorney general.” More»

Will he reveal AIG names?

(NEWSER) - Andrew Cuomo’s political career has hit a crossroads, the New York Times reports. The New York attorney general has found his moment, slinging subpoenas at Wall Street like a populist avenger. He’s forced concessions from the rating agencies and student loan lenders, and pried the names of bonus recipients from AIG and Merrill Lynch, to widespread applause. But what will he do with that popularity—and those names? More»

State can't block Grasso payout, says court, after bitter battle

(NEWSER) - The former chairman of the New York Stock Exchange has won an ugly 4-year battle to retain a mammoth $187.5 million compensation package. A New York appeals court dismissed an action initiated by then-Attorney General Eliot Spitzer challenging the payout for Dick Grasso as excessive, the Wall Street Journal reports. Grasso was ousted in 2003 after details of his pay package surfaced, sparking a nasty confrontation between Spitzer and Grasso, as well as the NYSE directors who approved the deal. More»

Resignation could soften prosecutors' stance on NY governor

(NEWSER) - Although Eliot Spitzer’s political career is over, it remains unclear what legal fate awaits the disgraced New York governor, the Wall Street Journal reports. Spitzer’s resignation wasn’t part of any deal, the feds confirm, but makes him less of a legal target. One possibility is a deferred-prosecution settlement, in which Spitzer would admit to the crime—but ultimately won't be prosecuted. More»