Word: spitzer
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Dates: during 2000-2009
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Last Thursday, I attended former New York Governor Eliot Spitzer’s timely and stimulating lecture on banking reform. Spitzer exhibited a thorough understanding of the causes of the recent financial crisis and laid out a convincing case for robust regulation of America’s troubled banking system. Among other things, he concluded that the sheer size of American banks was a major contributor to the financial crisis and continues to present a systemic risk to the economy...
Conglomerate banks that are too big to fail are often too big for executives to manage effectively. As Spitzer pointed out last week, most bank CEOs probably did not want to take on ruinous amounts of risk, but the scale of their operations hindered their oversight. Unsurprisingly, these financial behemoths tend to become unwieldy as they attempt to do too much at once. Consider the case of Citigroup, the product of Citibank’s historic 1998 merger with Travelers, an insurance company. The one-time “financial supermarket” was exposed as a bloated, mismanaged basket...
...Staff writer Elyssa A.L. Spitzer can be reached at spitzer@fas.harvard.edu...
...won’t respond to it, and it’s not material to why I resigned,” said Spitzer, answering the question...
Spitzer’s daughter, Elyssa A.L. Spitzer ’12, is a Crimson news editor...