Spitzer on AIG: I told you so

[cal04]

http://www.newsday.com/news/local/state/ny-stspit0320,0,7580345.story

Eliot Spitzer has a few words to say about the AIG bonus brouhaha: I told you so.

The former New York governor battered American International Group with charges of corruption long before his own dizzying downfall in a prostitution scandal. He has used this latest financial scandal to strike his old populist, Sheriff of Wall Street themes and, just maybe, mend his reputation -- though critics contend that he bears a share of the blame for the insurance giant's historic near-collapse.

Spitzer says the AIG bonus issue is "penny ante" compared to the billions of the insurer's bailout money funneled to bad banks, and that Treasury Secretary Timothy Geithner owes America an explanation, quickly.

As for all those politicians piling on AIG this week? Been there. Done that.


(snip)
On CNN Thursday, Spitzer said his initial probes came from AIG's "effort from the very top to gin up returns whenever, wherever possible and to push the boundaries in a way that would garner returns almost regardless of risk.

"Back then I said to people, AIG is the center of the web," he told CNN's Fareed Zakaria.