Blodget & Spitzer...Round 2

I wanted to post this fantastic interview delivered by Henry Blodget, who sits down with the former New York State Attorney General, Eliot Spitzer, to discuss AIG, the bailouts, compensation, and regulatory roles. I have always maintained that Eliot Spitzer was one of the shrewdest regulators of our time because he almost single-handedly took on Wall Street in reigning in illegal acts by many of the largest investment banks throughout his tenure.

http://www.thedeal.com/dealscape/2009/08/henry_blodget.php

What I find particularly interesting about this interview is Spitzer's clarity on the issues that have plagued Wall Street over the past 2 years. He calls out the government's failed involvement in the bailout of AIG, how regulators have enough power as it is, as well as how regulators and the regulatory system have failed to an extent. His rationale on each of these issues is second to none, and it is a shame that he is not in the same position of power that he once was. If there ever was a time that Main Street needed Eliot Spitzer to protect it from Wall Street, it would be now. While I am generally an advocate of the free market economy, Spitzer's "no-holds-barred" approach to regulation is just the tonic our society needs to better deal with the ongoing corporate malfeasance. As Spitzer himself said, the drive for wealth creation is inherently good for society; however, it is the after effects of that insatiable drive that we must avoid, as it's damage is greater than the benefits of being a purely free market.