Word: spitzers
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Former New York Governor Eliot Spitzer criticized the federal response to the economic crisis in a lecture yesterday sponsored by Harvard’s Edmond J. Safra Foundation Center for Ethics, an appearance some media outlets called ironic due to Spitzer’s resignation in the midst of a prostitution scandal...
Speaking before a packed audience and news cameras, Spitzer emphasized that the Obama administration should invest more money in job creation and infrastructure, rather than directing money to propping up large banks and other bankrupt companies...
...fail is too big not to fail,” Spitzer said. “There are only two people who seem not to get that so far: [Former University President and National Economic Council Director] Larry Summers and [Treasury Secretary] Tim Geithner...
...Spitzer criticized the federal assumption of bank debts, saying that socializing risk while privatizing gain creates an asymmetry and distorts incentives...
...Spitzer also addressed broader problems with corporate governance, which he said were “at the heart and soul of what has failed in the last 30 years...