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    Eliot Spitzer: John or Patsy?

    By DF on Wed, 12/17/2008 - 3:28am | Politics

    There's this interesting theory floating around over at Crooks and Liars: Eliot Spitzer was investigating Madoff.  While the initial evidence offered up is pretty thin, to the tune of some anonymous comments made on an investment forum a couple of years ago, there's also this piece by Greg Palast and this one from Project Censored, which points out that Spitzer's February 14th WaPo editorial was published just a day after his now infamous meeting at the Mayflower Hotel.  While Palast touches on the racially-charged nature of sub-prime lending practices and Project Censored focuses on insider politics, both pieces observe the timing and the unusually public nature of Spitzer's downfall.

    So, did a highly politicized DOJ use Patriot Act provisions to pillory Eliot Spitzer in order to put a stop to his investigations and silence his criticisms?

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    If so, he certainly gave them an easy means to pounce on him.


    by Donal on Wed, 12/17/2008 - 12:52pm

    No question about it.  There appears to be little doubt that he was involved with a prostitute.  Of course, there still seems to be some question as to how exactly probable cause was established.  Perhaps he simply (and naively) didn't think that it was possible for him to be caught in such a manner.


    by DF on Wed, 12/17/2008 - 2:20pm

    As you note, DF, the evidence that Spitzer was "investigating" Madoff is pretty thin. (In any case, I'm unclear whether even a law-and-order governor can tell a state attorney-general whom to probe.)

    Multiple sources now say Spitzer's family firm was a client of Madoff's, and may have lost millions in the scam. So it's unlikely Spitzer had specific suspicions about Madoff's investment operation.

    But I do love me some conspiracy theory, and there is no basis to trust that a thoroughly corrupted DOJ acted impartially. Spitzer had already made plenty of enemies. Just not Madoff.


    by acanuck on Thu, 12/18/2008 - 5:34pm

    The Madoff situation is curiously short on detail at this point.  One thing is certain: There's way too much funny stuff going on with money right now.


    by DF on Thu, 12/18/2008 - 6:36pm

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