Tuesday, March 11, 2008

Spitzer Stuns New York

The scandal engulfing NY Governor Eliot Spitzer has a number of facets that have left most New Yorkers stunned and disappointed.

First, many, like yours truly, cannot believe that the Governor thought he could get away with such conduct. As a prosecutor, who famously broke up a prostitution ring, he had to be aware of the methodology used to track such crimes. He could not have rationally expected to evade discovery. As such, you have to ascribe his behavior to colossal arrogance, an irresistible addiction or a subconscious wish to self-destruct.

Meanwhile, many on Wall Street who faced his wrath as Attorney General, celebrated Spitzer's shame. They and many other critics are looking forward to his resignation. They should be careful what they wish for. Lt. Governor David Patterson is far more liberal than Spitzer. His agenda may be even more challenging to conservative business interests in New York.

Finally, there is the sad reality that Spitzer failed his family, his friends and his supporters across the State. I did not support Mr. Spitzer, but like many New Yorkers, I hoped that his apparent determination to change the state on "day one" was genuine. Our state government is clearly dysfunctional and he seemed to offer a real chance for reform. That hope was badly harmed by Troopergate. This scandal has buried any hope for change in the state.

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