Tuesday, January 23, 2007

To Defend Wall Street’s Ranking, Spitzer Supports Lighter Regulation

As New York’s attorney general, he was one of the most ardent defenders of heightened securities regulation. As the state’s new governor, however, Eliot Spitzer has changed his mind, according to The New York Post. Joining Sen. Chuck Schumer and New York City Mayor Michael R. Bloomberg on Monday as they presented a new plan to streamline regulations, Mr. Spitzer said that he will do what it takes to keep Wall Street at the top of global finance.
Commenting on a report that New York could lose its share of the financial markets if it does not roll back financial regulations, Mr. Spitzer said: “We must take these recommendations seriously so as to support an economic climate ripe for financial services while continuing efforts to safeguard the market for investors.”
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