Here is the link to the Spitzer article originally posted in the Post…Washington Post:

http://www.washingtonpost.com/wp-dyn/content/article/2008/02/13/AR2008021302783_pf.html

Note the date. Valentine’s Day; the day following his expensive conquest.

Please investigate this article and Spitzer’s resignation.

When Spitzer was initially interviewed after the scandal broke, he said nothing of retirement. What happened between the first and subsequent interviews? Did he concede to the family’s request or were there other, more serious considerations?

I believe Spitzer, his wife and family recognize the difference between his crimes and those accused in the article. Screwing up a marriage should not be the public’s business, but screwing up an entire country or the world’s financial markets is a different story.

Is something else besides a sexual scandal behind his resignation?

When I was researching information for my book I spoke with numerous white collar crime field agents through out the country. All stated that they were told to NOT prosecute fraud for housing.

The FBI sorts mortgage fraud into two categories; fraud for profit and fraud for property(housing)

http://www.fbi.gov/pressrel/pressrel05/quickflip121405.htm

Ask any mortgage broker and Bear Stearns what is more dangerous to our financial system. Although the loss per incident is probably much high in a fraudulent scheme; the number of homeowners who knowingly overstated incomes, were coerced or unknowingly overstated incomes is exponentially higher.

Given the President is responsible to care for the faithful execution of law; these allegations by Spitzer and myself should be sufficient for impeachment hearings.

This post is NOT a criticism of the FBI. Clearly, the President had them preoccupied with Homeland security and “terrorists.”

Unfortunately, the real terrorists were in plain site destroying the global financial system.

As long as those responsible can melt away into their gated communites and resorts, without fear of public or private rebuke, we will continue to suffer at the hands of the greedy.

The all-time high for Bear Stearns was $170.23 on Feb. 22 last year. The 52 week high at this time is $159.36, on April 23, 2007.

Otherwise, a great article. The mess is so great that Deutsche Bank tried to foreclose on 14 mortgages in Cleveland but the judge ruled that it couldn’t be determined who owned the actual mortgages, since Deutsche Bank only owned securities based on the mortgages.

The financial engineers have outsmarted themselves.