Bloomberg & ABC TV Says Spitzer Resigning

Both ABC and Bloomberg TV, citing sources, said Spitzer was going to announce his resignation as Governor of NY.

Briefing.com had previously cited Fox News that Spitzer was indicted by Federal Court in NY. Briefing.com: NY’s Spitzer expected to resign – WABC TV [Read More]

~~~

Wall Street will be besides itself in an orgy of schadenfreude . . .

Update: March 10, 2008 3:45pm

Briefing update:

Court document in NY Prostitution case is not an indictment;
document in NY case doesn’t name Spitzer, according to Fox Reporter – DJ

>

Excerpt from ABC:

Sources tell Eyewitness News that Governor Eliot
Spitzer is going to resign, after being linked to a prostitution ring
in a published report.

Spitzer officials wouldn’t immediately comment on the story. Spitzer, 48, is married and has three daughters.

Details about the prostitution ring were not immediately clear, but
last week federal prosecutors in Manhattan filed conspiracy charges
against four people accusing them of running a prostitution ring that
charged wealthy clients in Europe and the U.S. thousands of dollars for
prostitutes.

The Times reported that a person with knowledge
of the governor’s role believes the governor is identified as a client
in court papers.

The Web site of the Emperors Club VIP
displays photographs of the prostitutes’ bodies, with their faces
hidden, along with hourly rates depending on whether the prostitutes
were rated with one diamond, the lowest ranking, or seven diamonds, the
highest. The most highly ranked prostitutes cost $5,500 an hour,
prosecutors said.

Spitzer has built his political legacy on
rooting out corruption. He made headlines battling Wall Street while
serving as attorney general. He won an historic share of the
vote for governor in 2006, and took office vowing to continue his
no-nonsense approach to fixing one of the nation’s worst governments.

Category: Legal

Rumor of the Day: Bear Goes Belly Up

Category: Credit, Derivatives

Crude Oil = $107

Category: Commodities, Energy, Technical Analysis

Who Painted Ambac’s Tape?

Category: Derivatives, Legal, Trading

Gold/Dollar Correlation

Category: Commodities, Currency, Technical Analysis

Return of the Linkfest !

Category: Financial Press

Is Your State in a Recession?

Category: Economy, Financial Press, Real Estate

NYT Fed Quote

Category: Credit, Federal Reserve, Media

World Clock

Category: Science, Web/Tech

Weekend Econo-Chart Porn

Category: Economy, Employment, Technical Analysis