How Eliot Spitzer Missed His Money Shot
Eliot Spitzer’s political career, gravely injured after a collision with reality on Monday, finally passed into the great unknown two days later. But Spitzerism — the soul, that is, of his career — expired months ago.
Unlike virtually every other Democratic politician in the country, Eliot Spitzer understood markets. He believed in the potential of widespread investing in stocks to build and spread genuine wealth, and as attorney general, he was like a Money magazine editor on crack, targeting enemies of small investors: self-promoting analysts, corrupt mutual-fund traders, predatory lenders. Spitzerism wasn’t about taxing and regulating profits; it was about diffusing profits to people who have never received a dividend check.
it just happened
David Paterson: ‘The Only Whores I Know Are Lobbyists’
David Paterson just gave his first public address since Eliot Spitzer’s resignation yesterday. He made noises about “getting back to work” and the budget, talked about being black and blind, indicated he wasn’t planning any major changes to his predecessors more controversial policies, and became the first human being in government to express sympathy for Spitzer himself. “My heart goes out to Eliot Spitzer, his wife Silda, his daughters,” he said. “I know what he’s gone through this week. In my heart, I think he’s suffered enough.” Paterson also displayed a rather awesome sense of humor. “Just so we don’t have to go through this whole resignation thing again,” one ballsy reporter asked, “have you ever patronized a prostitute?” Patterson thought for a minute. “Only the lobbyists,” he said.
in other news
As We Win One Hooker, We Lose Another
In the excitement surrounding the unveiling of Kristen, the Jersey-grown hooker who (accidentally) brought Eliot Spitzer down, we almost missed the fact that last night, the city lost another famous prostitute. Andreia Schwartz, the “millionaire” madam who was arrested last year for running a brothel on West 58th Street where call girls got paid between $700 and $1,500 an hour (how quaint!), was quietly deported back to her native Brazil after twenty months in prison and, the Post tells us, serving as a source for the federal authorities who were probing Spitzer. Schwartz’s biggest client was Time Warner CFO Wayne Pace, who she said paid her about $200,000 and helped her buy the apartment out of which she ran her business. He denied it and got off with only a terrible reputation, but now we’re wondering … who were clients one through eight?
Kinky Link to Brazil’s Bombshell[NYP]
Earlier: Eliot Spitzer’s ‘Kristen’ Somehow Much More Adorable Than Anticipated
company town
New York Newspapers Tanking More Slowly Than Papers ElsewhereMEDIA
• Of the top twenty American newspapers, the circulation of New York ones suffered less than others over the past few years. [Mixed Media/Portfolio]
• We hear … that gossip Website Jossip.com is up for sale. [NYP]
• And that ESPN The Magazine is beefing up its fashion coverage. [WWD]
intel
‘Kristen’ and Eliot Issue Dual Releases
Last night Eliot Spitzer finally released his official letter of resignation. It was short, simple, and hand-signed:
Dear Speaker Silver and Majority Leader Bruno,
I am writing to advise you that I am resigning my position as Governor of the State of New York effective 12:00 noon on Monday, March 17, 2008.
Sincerely,
Eliot Spitzer
Governor
We love that (a) he’s still governor until noon on Monday, which is surely a few extra hours that Paterson didn’t ask for (think of how many personal checks pardons he can issue in that time!) and (b) how he had to put “Eliot Spitzer, Governor” at the bottom of the letter. Savor that, dude. “Eliot Spitzer, Attorney-at-law” just doesn’t have the same ring to it.
But more importantly, as Vulture pointed out, our beloved “Kristen” had a very important new release today, too. Her latest song track! It’s called “Move Ya Body.” We were going to make a joke about that song title and Eliot Spitzer, but then we realized that every pop name ever could be a pun about hookers and governors.
Resignation Letter Released [NYDN]
Kristen Releases Another Song! [Vulture]
Earlier: Eliot Spitzer’s ‘Kristen’ Somehow More Adorable Than Anticipated