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Lee Degenstein has covered the financial markets for print and broadcast media for more than 15 years. Mr. Degenstein was also the news director and morning anchor at two major radio stations in New Jersey. He has been a reporter/contributor to United Press International, The Associated Press, The Mutual Broadcasting System and New York 1 News. A former winner of the Associated Press award for 'best business story' he lives and works in New York City. Lee can be reached by email at: lee723@verizon.net

Wednesday, March 12, 2008

SPITZER'S MISTAKES

By Lee Degenstein

If I ever needed an incentive to start writing again, I guess I owe it to our almost former Governor Eliot Spitzer. Thanks Gov, or should I say number nine. This is being written before we know if Spitzer will step down as Governor of The State of New York, however most people think he will. In fact it looks like has to.

Recently, we learned of former Mayor Rudolph Giuliani’s affair, which he survived. Not to be outdone the Mayors of Miami, Los Angeles and San Francisco all recently admitted to extra marital affairs, but they too survived. Even former President Bill Clinton, America’s all time Olympic champion of infidelity survived, and he got more action in both the Governor’s mansion and the Whitehouse than most of us could ever hope to get in a lifetime!. So what did Eliot Spitzer do that was so wrong?

The answer is threefold. He paid for sex, he got caught, and oh yea and he was really stupid. Is there really such a difference between mounting a woman in the office and hiring a hooker? One is legal and the other is not. Interestingly enough I’ll bet that if this happened in Europe it would have appeared on page 25 of the local paper.

My first bit of advice to Governor Spitzer is that he should immediately call Bill Clinton for counseling, after all we didn’t used to call him Slick Willy for nothing, and it’s too late to call Reverends Graham and Jackson. Secondly, it has been reported that Spitzer has a credit balance at the Emperor’s Club which is the escort service that he allegedly used. Eliot, you may want to have the Emperor send you a check forthwith, because it doesn’t look like you’ll need their services for a long time.

We have learned that Spitzer was identified as being client number 9. It would appear that Spitzer was among the first customers of this escort service. I am sure there is a number ten, eleven, and twelve and so on. It seems that Eliot went to the well several times. I would give a lot of money to find out who number eight and number 10 are. Admit it you would too! Wouldn’t it be great to learn that NY State Senate Majority Leader Joseph Bruno was number eight and Hillary Clinton was number ten? It couldn’t get any better than that.
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One of the laws that was broken is something called the Mann act. This act prohibits the transportation of a hooker across state lines for the purpose of prostitution. (Now why else would you transport a prostitute across state lines?) As a former prosecutor, Spitzer had to be aware of this. In addition to this violation, he also appears to be guilty of what is called structuring, which is a very complex law having to do with the transference of money. Spitzer had to be aware of this too. Do the phrase Death Wish ring a bell?

While we are on the subject, Spitzer’s conduct is a slap in the face to every hardworking hooker in New York State. What’s wrong with our girls Governor? Not good enough for you? All he had to do was to look in the back of New York Magazine or for that matter the Village Voice and he could have had a gaggle of girls all costing less than $1,100 an hour! But no, he had to go out of state which I find somewhat disloyal, especially for a Governor. By the way, what so you get for $1,100 an hour or don’t I want to know. Just the image of Eliot in a leather mask is too much for me to handle.

So what’s the deal with this guy? Did he want to get caught? He sure did everything possible to make sure it would happen. Of course what makes this all the worse, is that Spitzer won the race for Governor with a mandate of 70%. He was going to be Mr. law and order, and clean up Albany which needs some major cleaning. He was seen as a bully by those he prosecuted. When the news about the Governor reached the trading floor of the New York Stock Exchange, trading actually stopped for a moment and loud cheers went up from the crowd. He has no friends on Wall Street either. Spitzer even offended members of his own party during his first days in office, which is why you don’t see too many people coming to his defense.

I never held elective office. Yes, I was the Secretary of the Student Council in Prep School but I ran unopposed. So what is it about being elected to office and having some power, that causes those we elect to start thinking with the brain that is below their waistline? There must be some correlation but I still don’t get it. Do they think they won’t ever get caught? They almost always do and it is usually because of some misstep or stupid move. Bill Clinton is an expert when it comes to getting caught and he is presumably one of the smartest Presidents we have ever had.

So as of this writing it looks like Lieutenant Governor David Patterson may become the first Black Governor of New York State. He is well respected by his colleagues in the State Senate and has a good reputation. He will go far in repairing the fences that Spitzer has “steamrolled” through.

The press is making a big deal of the fact that Patterson is legally blind. FDR was physically challenged and he was one of the best Presidents we ever had. Perhaps it will take a blind man to see his way through the political minefield known as Albany. I say good luck Mr. Patterson and so long Eliot you got what you apparently wanted and deserve. We deserve better!

Lee Degenstein has covered the financial markets for print and broadcast media for more than 15 years. Mr. Degenstein was also the news director and morning anchor at two major radio stations in New Jersey. He has been a reporter/contributor to United Press International, The Associated Press, The Mutual Broadcasting System and New York 1 News. A winner of the Associated Press award for 'best business story' he lives and works in New York City. Mr. Degenstein can be reached by email at: lee723@verizon.net© Copyright 2008Lee Degenstein.All rights reservedwww.leereports.blogspot.com

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