The Less-Colorful Eliot Spitzer Strikes Again
[caption id="attachment_99794" align="alignleft" width="260"] No jurisdiction can hold me.[/caption] Hedge fund manager Phil Goldstein once said that when Massachusetts Secretary of the Commonwealth Bill Galvin looks in the mirror in the morning, he sees Eliot Spitzer. Granted, he said this before certain aspects of Client Number Nine's private life hit the front pages, but the point was made. And while Spitzer moves from one failed media venture to another—undoubtedly paying very close attention to a certain South Carolina House race—Galvin still carries the torch and a copy of the Bay State's securities law. That law must be unusually broad, because he's used it to fine a German bank $17.5 million for naughtiness related to a CDO created with an Illinois-based hedge fund.