Spitzer Writes Op-Ed For Slate…On Risk Management And Accountability

Elliot Spitzer is back. Can John Edwards be far behind?

Spitzer wrote an op-ed piece for Slate criticizing the bailouts by the U.S. government. Spitzer will write an op-ed piece for Slate every two weeks focusing on the financial crisis.

Spitzer criticized the bailouts, suggesting they are not promoting any significant change.

We are simply rebuilding the same edifice that just collapsed. None of the investments has even begun to address the underlying structural problems that are causing economic power to shift away from the United States, sector by sector.

Spitzer ends his op-ed piece with a nice, clean analysis. It is not too bad for a guy who has been sitting on the sidelines for the last few months.

It is time we permitted the market to work: This means true competition with winners and losers; companies that disappear; shareholders and CEOs who can lose as well as win; and government investment in the long-range competitiveness of our nation, not in a failed business model of financial concentration and failed risk management that holds nobody accountable.

But wait…what was that last line…”failed risk management that holds nobody accountable.” Oh, well, I guess Spitzer should know what he is talking about. He does know something about failed risk management and accountability.