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Spitzer Returns to Blast AIG

Disgraced ex-guv admits his mistakes on CNN, but slams insurer's payments

By Drew Nelles,  Newser Staff

Posted Mar 22, 2009 5:18 PM CDT
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(Newser) – A humbled Eliot Spitzer re-entered the limelight last week with an interview on CNN, admitting that he "failed in a very important way." But the former New York governor, ousted by a prostitution scandal last year, also took aim at AIG, calling it "at the center of a web" of financial crises. Agreeing that executive bonuses are appalling, Spitzer reserved greater venom for the insurer's multi-billion-dollar payouts to counterparties like Goldman Sachs.

He also left open the possibility of a political comeback. “I don't think about it, I don't worry about it. I focus on my family, on the issues.” And he described himself as a “huge fan" of President Obama. “I think we all have to be and should be, if only because he has been thrust into a dynamic that is almost impossible," Spitzer said.

Eliot Spitzer, who battered AIG with charges of mismanagement, has been using the AIG affair to raise his profile and, just maybe, do some reputation-mending after his own prostitution scandal.
Eliot Spitzer, who battered AIG with charges of mismanagement, has been using the AIG affair to raise his profile and, just maybe, do some reputation-mending after his own prostitution scandal.   (AP Photo/Tim Roske, file)
In this March 12, 2008 file photo, former New York Gov. Eliot Spitzer announces his resignation at his office in New York.
In this March 12, 2008 file photo, former New York Gov. Eliot Spitzer announces his resignation at his office in New York.   (AP Photo/Stephen Chernin)
In this March 10, 2008 file photo, Eliot Spitzer apologizes to his family and the public after a report that he was involved in a prostitution ring.
In this March 10, 2008 file photo, Eliot Spitzer apologizes to his family and the public after a report that he was involved in a prostitution ring.   (AP Photo/Mary Altaffer, File)
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COMMENTS
Showing 3 of 3 comments
Forderon
Mar 24, 2009 1:53 AM CDT
I saw the entire, unedited interview on cnn.com. I was impressed, as I always have been, with his knowledge of Wall Street corruption and legal issues. It's an enormous shame that he ruined his reputation the way he did because he was like an unmasked, uncaped Batman crusading against white collar crime and corruption in Gotham City.
Robert_Dada
Mar 22, 2009 10:45 AM CDT
Agreed on all counts
woodyTX
Mar 22, 2009 10:26 AM CDT
I'm not a Spitzer fan but he showed an excellent command of the facts in this case. He had prosecuted AIG on behalf of NY state a few years back and knows it inside out. If I were Geithner and Holder, I would listen to what he has to say. If he is right, this a multi-bllion dollar sham and tax payer giveaway.

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