Spitzer's Spectacle

After waking up Wall Street, what's next for New York's crusader?

When Eliot Spitzer limped into office as New York's attorney general four years ago, he was an unlikely populist crusader. Having finished dead last in the Democratic primary in the previous election, Spitzer made it to the finish line on his second try in 1998 by spending a sizable chunk of his father's real estate fortune--and only then after a six-week, Florida-style recount in which the incumbent cried voter fraud. His political views were several shades to the right of most New York Democrats. And the crony-ridden office he inherited was so inept--its top lawyer had flunked the bar exam seven...

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