Wednesday, October 20, 2004

Eliot Spitzer: Still Kicking Ass, Still Taking Names

Under the gun this month: insurance brokers. Spitzer is charging that a number of insurance brokers (including Marsh & McLennan, the world's largest such company) have been taking money under the table and rigging bids for insurance companies. I've always been of the opinion that if you looked carefully into any major investing/corporate accounting/money management sector you could find pervasive corruption and white collar crime. The old boys' network and the culture of entitlement just breeds it like flies on shit. It will probably take more than Eliot Spitzer to solve the problem, but he's done a pretty remarkable job so far.

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