So Why Hasn't Spitzer Resigned Yet?
FINANCE • As Blackstone's profit sinks 89 percent, Stephen Schwartzman gets the New York Public Library on Fifth Avenue and 42nd Street named after him. The naming rights came with a very generous $100 million donation, but we're not sure we're ready to go have lunch on the lovely steps of "Schwarzman." It'll feel like we're an undergrad at Penn or something. [NYT] • Wall Street says "There is a God" as its longtime persecutor, Eliot Spitzer, falls from grace. [NYT] • Lehman Brothers, the largest underwriter of U.S. mortgage bonds, plans to lay off 5 percent of its workforce, which is about 1,400 people. Meanwhile, Bear Sterns, the second-biggest underwriter of mortgage bonds, lost more than $1.3 billion in market value yesterday as investors worried about the firm's liquidity. [NYP, NYP]
Kristen, having already passed through the lobby, with its wing chairs and its gilded half-clad cherubs, arrived in a small room in a quiet corner of the “Club Floor,” a special wing for V.I.P.’s. A king-size bed commanded the floor. Two photos — of the Capitol and the Washington Monument — hung beside a wood-framed mirror. As soon as she came in, Kristen called her boss, Temeka Lewis, who was the booking agent for the Emperor’s Club V.I.P., an online prostitution ring, the affidavit said. Ms. Lewis told her that the client had arrived. He was headed for the room.
Fashion and politics go hand in hand. Literally. Last night at the cocktail party for CFDA Awards nominees we caught up with CFDA executive director Stephen Kolb, who reminisced about the time he met — and touched — Governor Eliot Spitzer in Washington, D.C.
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Democrats will remind voters decades of Republican rule in the Senate have done little to avert the state's rising taxes and sluggish economy. That's the frustration part. Republicans who backed Barclay have already started warning that, should they lose their majority, New York would be under the control of just one political party, the Democrats. That's the fear part.Democrats positioning themselves as a change from a stagnant GOP regime, and Republicans playing upon voters' fears to get them to the ballot box? There really is only one story in politics, huh? State of the Senate in Play [Albany Times-Union] Related: Driving the Steamroller [NYM]
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