Spitzer faces $60 million libel suit over Slate column

Yahoo finance, Reuters ^ | 8/22/11 | jdsteel

[jdsteel]

NEW YORK (Reuters) - Former New York Governor Eliot Spitzer was hit with a $60 million libel lawsuit by a former Marsh & McLennan Cos executive over a column published on Slate.com concerning an insurance bid-rigging scandal.

[jdsteel]

This is interesting to me. It seems Spitzer is trying to resurrect his "Sheriff of Wall Street" reputation, without the shield of being NY Attorney General. Marsh & McLennan (who owned Putnam mutual funds at the time) got lambasted (to a large degree unfairly) and milked for millions of dollars of fines. They will relish some payback.

[PGR88]

I was told that Spitzer’s crusading to make a political name for himself while NY AG ruined a lot of innocent people. He is not well liked.

Perhaps some of these people have the means to get revenge, now that Spitzer is a nobody.

[max americana]

This clown should go back to picking up hookers.

[Oshkalaboomboom]

Perhaps some of these people have the means to get revenge, now that Spitzer is a nobody.

Spitzer is personally worth millions and will be worth in the hundreds of millions when his father passes. That hardly qualifies him as a nobody. He may not be in ofice and he may be politically disgraced but he still has the connections and resources to take on some pretty big fights.

[jdsteel]

I’ve heard (through the grapevine) that he had a large staff that did nothing but try to find something, anything, even if not substantiated to try to basically shake companies down for fines. Many times it was one of those “settled for an undisclosed sum with no admission of wrongdoing” kind of fines.