Thoughts on Spitzer
Mr. Spitzer published the below article in the New Republic recently. It focuses on Republican "values" such as the Ownership Society, and then he highlights their failures to ensure their promises. He also attacks Dems for not framing their values appropriately.
I like Eliot Spitzer because he is a dogged supporter of solid New York Democrat ideals like the ones brought to us by Teddy and Franklin Roosevelt. He does fight for the little guy and I appreciate both his efforts and successes and bringing in corporate malfeasance often with little support from the national agencies like the SEC that should have been front and center.
As a former equity research guy and a person who was directly impacted by Spitzer's work I have a few questions for him:
What is your definition of a working man/family?
I think those putting in long hours in corporate offices are working men and women we should be in your definition. We are too well off to be considered poor but a long long way from rich and sometimes I feel like we fall in the gap in between what Dems have called working and what the Republicans view as those that need tax "relief."
Why is it that C. Michael Armstrong and other CEO's were never implicated?
While the equity research apparatus was in dire need of change when you took action, there was a lot more going on. Corporations have lost sight of true value and focus on stock price to a not before seen degree. We need to fight this trend. We need to give both small investors (like me) and small workers (like me) a shot and the short term focus of so many in the Fortune 500 holds many back.
Mr. Armstrong epitomized this trend and demanded that Citibank and it Solomon Smith Barney unit take a positive view of ATT stock before doing a lucrative transaction with the bank. It is known that he demanded a new rating before he would do business. There are many like him. Do not stop at the lowly analyst go all the way to the boardrooms.
Read Spitzer's Article Here
I like Eliot Spitzer because he is a dogged supporter of solid New York Democrat ideals like the ones brought to us by Teddy and Franklin Roosevelt. He does fight for the little guy and I appreciate both his efforts and successes and bringing in corporate malfeasance often with little support from the national agencies like the SEC that should have been front and center.
As a former equity research guy and a person who was directly impacted by Spitzer's work I have a few questions for him:
What is your definition of a working man/family?
I think those putting in long hours in corporate offices are working men and women we should be in your definition. We are too well off to be considered poor but a long long way from rich and sometimes I feel like we fall in the gap in between what Dems have called working and what the Republicans view as those that need tax "relief."
Why is it that C. Michael Armstrong and other CEO's were never implicated?
While the equity research apparatus was in dire need of change when you took action, there was a lot more going on. Corporations have lost sight of true value and focus on stock price to a not before seen degree. We need to fight this trend. We need to give both small investors (like me) and small workers (like me) a shot and the short term focus of so many in the Fortune 500 holds many back.
Mr. Armstrong epitomized this trend and demanded that Citibank and it Solomon Smith Barney unit take a positive view of ATT stock before doing a lucrative transaction with the bank. It is known that he demanded a new rating before he would do business. There are many like him. Do not stop at the lowly analyst go all the way to the boardrooms.
Read Spitzer's Article Here
posted by Bakley @ 10:36 AM
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