"Even as the Dow was on its way to notching another triple-digit loss, whoops of joy erupted from the dispirited trading floors today on news of New York Gov. Eliot Spitzer's disgrace. Spitzer, who rose to prominence as a scourge of Wall Street, uprooting corrupt practices, coming down hard on bad actors and establishing a new moral order, was laid low by reports that he had been involved in a prostitution ring.
Details are still emerging, and it's unclear how this will all shake out, but one thing is immediately clear: Spitzer has been hoisted on his own petard, brought down by the same kind of investigation he pioneered as a prosecutor. The analogies between Wall Street and prostitution aren't perfect. (On Wall Street, for example, the transactions involving favors for money are generally conducted when both parties are fully clothed.) But he may have fallen prey to the same types of circumstances and dynamics that led to his astonishing rise." [Spitzer Sex Scandal | Newsweek Voices - Daniel Gross | Newsweek.com]
What a disaster. New York finally gets a Democratic governor after two terms of Pataki and he lasts a year. What does this do in the state senate, which is thisclose to attaining a majority in the Senate and rooting out Joe Bruno? What, if anything, does this do to the presidential chances of the national Democratic party?
What Spitzer is accused of demonstrates a very human failing, tragically reminiscent of another Democratic executive of recent memory. He acted stupidly, selfishly, arrogantly, and immorally, with no apparent regard for his family, the people who work with him, the people who supported his campaign, the state, the voters, or the party.