Paging Mr. Bloomberg, Albany is waiting

Eliot Spitzer made a big mistake. And he will probably face pressure to resign after serving just 13 months as governor of the Empire State. It has been an incredibly rocky year for the Spitzer administration, but this scandal is probably his death knell in politics for the near future. This is a truly unfortunate happening for the people of the State of New York.

Spitzer violated the trust of his family, and I believe that is an unforgivable sin. Politician or not, marriage is a sacred vow of fidelity to anther for eternity. If you can't pass this test, don't get married, and don't ever have children. That's the bottom line. If you don't love your partner enough to stay faithful, get a divorce. It's cowardly to have it both ways, and in this way, Eliot Spitzer has peddled immoral wares.

That said, the illegality of prostitution is probably a mistake as a policy. It punishes, on a whole, women, and drives the world's oldest profession into the black market. This policy makes prostitution especially dangerous and unnecessarily so. Nevada is a model for the proper regulated paid-sex business, and it should be commended. The libertarian point of view, one which I subscribe to on many issues, is quite right in this regard. Adults shouldn't be barred from intimate conduct, or from imbibing in substances for that matter, of their own volition and accord. Without impinging the rights of others, and to the degree that the marginal negative effects can be sustained, we ought to be free to act in the manner we deem appropriate without a nanny-state, puritanical government batting down the door.

Notwithstanding my feelings on the law concerning this issue, Gov. Spitzer participated in an illegal scheme under the Mann Act. Federal prostitution prosecutions are very rare, and in fact, almost never focuses on the customers to these "human trafficking" organizations. Whatever, the result of the Federal investigation, it is sad to see a brilliant legal mind suffer such a terrible fate. Eliot Spitzer, by any accounts, is a genius. He scored a near perfect 1590 on his SAT. On his law school entrance exam, the LSAT, he achieved a perfect score of 48 (the old test). He was editor of the Harvard Law Review and clerked for a prestigious New York Southern District Court Judge. When he was elected Attorney's General after several years in private practice and as a Manhattan County District Attorney, he began his crusade as "sheriff of wall street".

His victories over Merryl Lynch, Marsh, AIG, and the NYSE stunned observers. The untouchable giants of Wall Street were brought to their knees under various New York State Laws including the pivotal Martin Act. It gives great power to the AG of New York to investigate corruption , intermingling of interests and general malfeasance. But, unlike Giuliani (whose crusade against organized crime almost always resulted in show trials), Spitzer always used the art of the compromise to wretch Wall Streeters to the bargaining table. By threatening business downturns and negative stock performance, Spitzer got the upper hand. He also advocated effectively for stockholders who had been taking a bath as a result of a complacent and aloof SEC during the late 90s and early 2000s.

His gambit then was his vigor and his ability to outsmart almost everyone in the room. Which is why this particular incident is so jarring. How did he allow himself to be caught in such a mess?

By all accounts, Eliot Spitzer was a political steamroller. He won the governor's race by 40 points, 70 to 30. He was mentioned as a serious contender for President of the United States (and the first Jewish one at that). His (and my) hero is former New York Governor-turned-President Theodore Roosevelt. But he had few friends in the Democratic Party in New York. And he had even fewer across the aisle. He fought ferociously with old Republican Political Boss Senator Joseph Bruno, and even clashed with fellow Democrats over state priorities and appointments. He went so far as to actively campaign last fall against a sitting Democratic Representative in order to install someone to his preference. By insisting on pushing an unpopular measure to grant drivers licenses to undocumented aliens, he alienated voters in all corners of New York State.

Still, the circumstances of his demise are quite suspect. ABC News reported that it was a Bank that turned over information to the US Attorney's office due to "unusual financial transactions" in the Governor's account. It certainly seems as if Spitzer's old enemies had a close eye on his maneuvers. It wouldn't take much to believe a financial institution, still aching for Spitzter's blitz, would be eager to find fault in the Governor. What the bank thought were bribes, however, turned out to be something far different. It certainly doesn't help Governor Spitzer that the Department of Justice threatened to leak his name immediately unless he made a public admission. Nothing of the sort occurred when Justice investigations into the call-girl service revealed Senator David Vitter's number. But, that's politics when the other party is in control of the executive.

In all, it's sad for a rising reformer like Governor Spitzer. He crashed into office hoping to clear the girdlock in Albany, and clean up government. Say what you will about his tactics, but he won incredible legal victories against some of the best funded entities in the world. He always played to win, and that's the epitome of advocacy. He set the mold for other crusading Attorney's Generals, like current Florida Governor Charlie Crist and CT AG Richard Blumenthal, to turn their legal acumen and anti-corruption stances into political success.

Eliot Spitzer should resign. New York will now have it's first black, and blind, Governor, David Patterson.

Personally, I can't wait until Michael Bloomberg is sworn in to office in 2010 as Governor of New York, after prevailing over Rudy Giuliani in a close race. There's still hope for New York.