the future Governor of New York?? I hate to see him turn cases over to the fed, they didn't do anything about these in the first place ....
snip...
After nearly three years of high-profile prosecutions of investment banks, mutual funds and insurance companies, Attorney General Eliot Spitzer of New York said yesterday that he is ready to cede those investigations to federal regulators.
Mr. Spitzer said he believed the era of state attorneys general crusading against misdeeds on Wall Street was ending. He said he was concerned that 50 different investigations would balkanize regulations, and added that once-lax federal agencies had become more aggressive about rooting out fraud and wrongdoing.
The shift, first reported in The Financial Times, represents a remarkable turnabout for Mr. Spitzer, who has built a reputation as a giant-killer with his investigations of Merrill Lynch, one of the country's largest brokerage firms; Marsh & McLennan, the world's largest insurance broker; and Richard A. Grasso, the former chairman of the New York Stock Exchange.
His decision comes just two weeks after he declared his candidacy for governor of New York in 2006, a campaign in which he will need to raise large sums to be competitive. Traditionally, many of those donations in a governor's race come from Wall Street, but Mr. Spitzer said his move away from big-business investigations was not related to his campaign.
more...
http://www.nytimes.com/2004/12/25/nyregion/25spitzer.html?ei=5089&en=bde5f0f43bbda1f4&ex=1261717200&partner=rssyahoo&pagewanted=print&position=
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