Tuesday, November 16, 2004

New York's next governor

Eliot Spitzer in TNR online:
    Here's a fact almost no one knows: In 2003, when my office uncovered the mutual-fund scandal, outrage was easy to find, but few in political office stepped up to take on the mutual-fund industry, which is one of the largest donors to federal campaigns. The president failed to support any meaningful reforms. Most in Congress ran the other way. There was, however, one exception to the general inertia. The strongest bill--and, indeed, one of the only bills--to reform the mutual-fund industry was introduced by Senator John Kerry. That is one of the reasons I supported him early in his campaign. It is too bad voters didn't hear the story about how our Democratic candidate was actually one of the few in government who stood up to defend their stake in an Ownership Society.

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