[lbo-talk] Elitiot Spitzer, Wall St. nemesis

[Carl Remick]

Excellent front-page article in the Wall Street Journal today on NY Attorney 
General Eliot Spitzer, whose latest foray against financial services 
institutions involves hounding the mutual fund industry about excessive 
fees.  Spitzer's a rare fiinancial regulator who isn't just going through 
the motions but is giving Wall St. a serious case of the shits. Among other 
things, he's exposed what a complete fraud SEC oversight is.

Sample from WSJ article:  "'We have to destroy this canard that the SEC 
screwed up because they don't have the resources,' [Spitzer said.] ... (The 
SEC has an enforcement staff of 830 lawyers, compared with 15 lawyers in the 
New York attorney general's investor protection unit.) 'It's a massive army 
compared to our guerilla fighers -- and look what we can do!' he said."

Carl

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