Many New Yorkers, dismayed at Albany’s sleaze, dysfunction, and stagnation, are cautiously optimistic about Eliot Spitzer as the Empire State’s new governor. After all, the former state attorney general ran on a platform of “wholesale reform, so that we can collectively get back to effectively dealing with the real problems of our state.” As Spitzer put it in one campaign speech, he’ll do to State Street what he did to Wall Street: open up a “system that is controlled by special interests . . . that is not efficient, is not open, and [is not] transparent.” Maybe he’ll put the...