Sue Eliot Spitzer!


From the entertaining Spitzer Watch blog, a nice crack on the perpetually aggrieved New York attorney general:

The lead editorial in today's Wall $treet Journal makes the point that compared to any alleged mismanagement by former AIG exec Hank Greenberg, Eliot Spitzer has done far more damage to AIG shareholder value.

This begs the question: Why don't AIG shareholders sue Eliot Spitzer?

Spitzer has in public said Mr. Greenberg committed "fraud" that was "illegal" and caused AIG's share price to plummet!

The damage to shareholder value caused by Spitzer's investigation (and PR campaign) was predictable. More importantly, if what the Journal's portrayal* of the "white paper" released by Greenberg's lawyers (lead by David Boies) is accurate, then Spitzer was reckless in making accusations against the former AIG executive.

Whole thing here.