Eliot Spitzer
Eliot Spitzer
Eliot Laurence Spitzeris an American politician who served as the 54th Governor of New York from 2007 until his resignation on March 17, 2008. Following his eight year term as Attorney General of New York, Spitzer was elected governor in 2006, succeeding three-term incumbent George Pataki. Soon after taking office, Spitzer was embroiled in a prostitution scandal that culminated in his resignation. Following his resignation, he hosted a short-lived program, Viewpoint with Eliot Spitzer on Current TV...
NationalityAmerican
ProfessionPolitician
Date of Birth10 June 1959
CityNew York City, NY
CountryUnited States of America
Millennium developed multiple schemes that cost mutual fund investors tens of millions of dollars.
My office, while committed to working with the Securities and Exchange Commission in our investigation of the mutual fund industry, will not be party to settlements that fail to protect the interests of investors and let the industry off with little more than a slap on the wrist,
Frankly, it was never practicable for the AG's office to receive a vast sum of money and then try to disperse that money to individual investors, ... Those individual investors will have to go through some sort of fact-finding process to demonstrate who relied on who and is owed how much.
With this agreement, virtually the entire mutual fund industry has now sworn off improper trading practices and agreed to compensate investors who were harmed,
Investors know that what was going on on the Street with analysts was wrong, was corrupt and had to be changed, ... The smart business leaders are changing their ways. Those who are putting their heads in the sand are saying, 'Let's get rid of the cops who watch to make sure things get done honestly.'
Every time we turn over a rock in the mutual fund industry these days, we are seeing vermin crawl out that are appalling: Late trading; timing by those in the executive boardroom; billions of dollars being scraped off that should be going into the pockets of investors instead ending up in the hands of the executives,
It's about making sure retail investors get a fair shake, ... The one thing they deserve is honest advice and fair dealing.
Federated worked with regulators to address problems with improper trading, ... With this agreement, virtually the entire mutual fund industry has now sworn off improper trading practices and agreed to compensate investors who were harmed.
The CEO was personally bought off by being given IPO allocations, ... Small investors were left holding the bag.
The evidence in this case speaks for itself, ... Top managers knew market timing was harming buy-and-hold investors but they condoned and facilitated it because it was a lucrative source of management fee revenues.
We would not permit this type of conduct in connection with the sale of cars or washing machines. It is simply unconscionable that it occurred with a critical medical device.
There has been a decline in ethics and we've got to turn it around,
This was a travesty, a violation of the public trust and it is something that Freddy Ferrer would not have permitted. That is money that could go into schools, into housing.
The great advantage of the Internet is that it helps consumers compare products and prices, ... Our action in this case helps ensure that consumers will have the ability to do just that.