- Title / Office:
- governor (2007-2008), New York
- attorney general (1999-2006), New York
- Political Affiliation:
- Democratic Party
Eliot Spitzer
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Who is Eliot Spitzer?
Eliot Spitzer (born in the Bronx, New York, June 10, 1959) is an American lawyer and politician. He served as New York's governor from 2007 to 2008. Before that, as the state’s attorney general (1999–2006), he became known for his strong stance against corruption in the financial industry, earning him the nickname “the sheriff of Wall Street”.
Spitzer, a Princeton and Harvard Law School graduate, started as an assistant district attorney in Manhattan, prosecuting mobsters. After an unsuccessful run for New York attorney general in 1994, he won the seat in 1998 and was reelected in 2002. In March 2008, after being investigated for alleged involvement with a prostitution ring, Spitzer resigned from the post of governor. Later, he became a columnist and talk show host.
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What jobs did Eliot Spitzer have in government?
Eliot Spitzer served in New York government as attorney general (1999–2006) and as governor (2007-2008). As attorney general, he gained national attention for his investigations into the financial industry, targeting corruption and improper trading within mutual-fund companies, which earned him the nickname “the sheriff of Wall Street”. Spitzer also ran for New York attorney general in 1994, but he was unsuccessful in that election. In December 2004, Spitzer announced that he would run for New York state governor after the conclusion of his term as attorney general in 2006, which he won.
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What was Eliot Spitzer known for as New York's Attorney General?
As New York's Attorney General (1999–2006), Eliot Spitzer became known for his determined efforts to combat corruption within the financial industry, earning him the moniker "the sheriff of Wall Street".
Spitzer's investigations led to substantial cash settlements and the implementation of stricter regulations to ensure clearer separation between research and investment divisions within banks. His actions included investigating improper trading within mutual-fund companies and addressing issues such as labor rights and consumer protection against fraudulent advertising and identity theft. Additionally, Spitzer aimed to penalize corporate polluters and reform ineffective government regulation of these polluters.
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How did Eliot Spitzer become Governor of New York?
Eliot Spitzer became governor of New York in 2007 after a landslide victory in the 2006 election, promising to reform state politics. Prior to this, he served as the state's attorney general from 1999 to 2006, earning national recognition for his efforts to combat corruption in the financial industry. His investigations into improper trading within mutual-fund companies led to significant settlements and new regulations, gaining him the nickname "the sheriff of Wall Street.".
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What issues or controversies affected Eliot Spitzer's career as governor?
Eliot Spitzer's career as governor of New York was marked by controversy and a premature end. Although he initially won a landslide victory promising to reform state politics, his popularity soon declined.
Spitzer frequently clashed with the state legislature and had publicized confrontations with other politicians. A controversial plan to allow illegal immigrants to receive driver’s licenses was withdrawn after nationwide opposition. In March 2008, it was revealed that Spitzer was being investigated for his alleged involvement with a prostitution ring, leading to his resignation.
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What did Eliot Spitzer do after resigning as governor?
After resigning as governor of New York in March 2008, Eliot Spitzer became a columnist for Slate.com in 2009. The following year, he co-hosted Parker Spitzer on CNN, later renamed In the Arena. After leaving CNN, he hosted Viewpoint with Eliot Spitzer on Current TV (2012–13). In 2013, Spitzer ran for New York City comptroller but lost in the Democratic primary. Subsequently, he joined his family’s real-estate business. In 2016, he sued a woman for blackmail, which resulted in her imprisonment.
1 Britannica SourceCreated from Britannica articles using AI. AI can make mistakes, so verify using Britannica articles.
Eliot Spitzer (born June 10, 1959, Bronx, New York, U.S.) is an American lawyer and politician who was governor of New York from 2007 to 2008. As the state’s attorney general (1999–2006), he gained national attention for his aggressive pursuit of corruption in the financial industry.
Spitzer was educated at Princeton University (B.A., 1981) and Harvard Law School (J.D., 1984), where he was an editor of the Harvard Law Review. After graduation he served as a clerk to a judge and as an associate at a law firm before leaving to become assistant district attorney (1986–92) in Manhattan, where he prosecuted notorious mobsters. He made an unsuccessful run for New York attorney general in 1994, but on his second attempt, in 1998, he narrowly won. In 2002 he was reelected after his yearlong headline-grabbing investigation of wrongdoing at investment banks—most notably at Merrill Lynch, the world’s largest brokerage company—led to huge cash settlements and to new rules on greater segregation between the research and investment divisions of a bank.
In the fall of 2003, Spitzer began studying improper trading within mutual-fund companies, citing several firms for illegal after-hours trades. His investigations yielded their largest settlement in May 2004, when CEO Richard Strong and the Wisconsin-based company he founded, Strong Capital Management, agreed to pay fines of $60 million and $80 million, respectively, in addition to other penalties for unacceptable methods such as market timing, or short-term and rapid trades. His investigations into the financial industry earned him the nickname “the sheriff of Wall Street.” While some industry watchers dismissed Spitzer’s high-profile accusations as grandstanding, others heralded his investigations as aggressive attempts to clean up an industry beset by corporate scandals. Other issues Spitzer pursued while attorney general were labour rights and consumer protections against such abuses as improper billings, fraudulent advertising, and identity theft. He also sought to punish corporate polluters and to reform the lax government regulators of such polluters.
In December 2004 Spitzer announced that he would run for New York state governor after the conclusion of his term as attorney general in 2006. Promising to reform state politics, Spitzer won a landslide victory. Soon after taking office in 2007, however, he saw his popularity decline. He frequently clashed with the state legislature and had several highly publicized confrontations with other politicians. In September 2007 Spitzer unveiled a controversial plan to allow illegal immigrants to receive driver’s licenses. Several months later, however, he withdrew the proposal after nationwide opposition. In March 2008 it was revealed that Spitzer was being investigated for his alleged involvement with a prostitution ring. Days later he announced his resignation, effective March 17. In November federal prosecutors announced that they would not be filing any criminal charges against Spitzer.
In 2009 Spitzer became a columnist for Slate.com, and the following year he began cohosting (with Kathleen Parker) the nightly talk show Parker Spitzer on CNN. In February 2011 Parker left the program, which was subsequently retitled In the Arena. It struggled in the ratings, and in July Spitzer stepped down as host after CNN announced that the show would be canceled. He later hosted Viewpoint with Eliot Spitzer (2012–13) on Current TV, a cable channel founded by Al Gore. In 2013 Spitzer attempted a political comeback by running for comptroller of New York City. However, he lost in the Democratic primary. He subsequently began working at his family’s real-estate business. In 2016 he sued a woman who was blackmailing him; she later served time in prison.