Eliot Spitzer Sex Scandal-- New York State Governor Eliot Spitzer was implicated in a scandal involving the prostitution ring Emperors Club VIP, NYT reported.
ALBANY - Gov. Eliot Spitzer, who gained national prominence relentlessly pursuing Wall Street wrongdoing, has been caught on a federal wiretap arranging to meet with a high-priced prostitute at a Washington hotel last month, according to a law enforcement official and a person briefed on the investigation.
The wiretap captured a man identified as Client 9 on a telephone call confirming plans to have a woman travel from New York to Washington, where he had reserved a hotel room, according to an affidavit filed in federal court in Manhattan. The person briefed on the case and the law enforcement official identified Mr. Spitzer as Client 9.
Governor Spitzer admitted his involvement of requiring prostitute and had apologized over his wrongdoings. But apparently, his time remaining as New York State Governor are now countable. So who are the happiest on the crsis of Eliot Spitzer now facing? Of course, Wall Street traders:
Wall Street Cheers As Its Nemesis Plunges Into Crisis
It's Schadenfreude time on Wall Street.
Eliot Spitzer, the New York governor who made his name taking on the titans of finance, apologized yesterday in vague terms following reports that he used the services of a prostitute in a case being investigated by federal prosecutors.
The news stunned traders on Wall Street, where Mr. Spitzer long has been viewed with fear and contempt. Some view the revelations as a huge hypocrisy for a man, who as New York's attorney general, had aggressively pushed for ethics and fair play on Wall Street earlier this decade. People who clashed hardest with Mr. Spitzer are among those crowing the loudest.
"He actually believes he's above the law," said Ken Langone, a former New York Stock Exchange director who now heads a small investment-banking firm. In his role as prosecutor, Mr. Spitzer sued Mr. Langone for his role in doling out the large pay package of former New York Stock Exchange CEO Dick Grasso. "I have never had any doubt about his lack of character and integrity -- and he's proven me correct."
Update: The prostitute is reportedly called "Kristen"