What’s Eliot Spitzer up to now?
The capitalist-bashing former NY AG and Dem Luv Guv is starting a “vulture fund.”
Fitting, don’t you think?
Eliot Spitzer, in his first big business venture since he was shamed out of office by a prostitution scandal, is shopping around a plan to start a vulture fund that would scoop up distressed real estate assets around the country, revamp them, and flip the properties for a profit.
Late last month, the former governor of New York gathered a group of high-level Washington, D.C.-based labor union officials in a conference room at the headquarters of his father’s real estate business in Manhattan and pitched them his idea for starting such a fund, a source said.
During the meeting, Mr. Spitzer expressed relief that he was no longer burdened with the frustrations of being governor, according to the source. And, in contrast to his repentant resignation speech that he delivered beside his tearful wife, Silda Wall, he took a more relaxed view of his indiscretions.
He has told friends and associates that he is consoled by passersby who stop him on the city sidewalks and tell him that sex is “no big deal” and that the disclosure that he frequented prostitutes was distorted out of proportion, the source said. Europeans, the former governor has noted, have been especially supportive of him and perplexed by the fallout from the scandal.
In the half-hour meeting, Mr. Spitzer told the officials that he was determined to take his ailing father’s real estate company to “the next level,” the source said. Mr. Spitzer said he would lay out his business plan in greater detail at a later date, and would ask the labor officials to consider investing pension fund money under their control.
Mr. Spitzer is moving aggressively to occupy a niche created by the credit crunch, the subprime mortgage crisis, a surge in foreclosures, and a declining real estate market. He is looking to mine for riches in projects that banks are no longer willing to finance.
Yes, I hear defaulting Democrat Rep. Laura Richardson wants in.
See what others have said
Note from Michelle: This section is for comments from michellemalkin.com's community of registered readers. Please don't assume that I agree with or endorse any particular comment just because I let it stand. A reminder: Anyone who fails to comply with my terms of use may lose his or her posting privilege.
Trackbacks
Comments
You must be logged in to post a comment.
Categories: Corruption, Democrats, Subprime crisis
NewsBusters.org
» Rumor That Palin Called Obama 'Sambo' Spreading Across Internet
David Frum
» PS to my Times articleBabalu Blog
» Don't eat any more meat...Marginal Revolution
» Conservatorship for the mortgage agenciesPower Line
» More Perspectives on PalinRedstate
» Yes, we really want to go there.Hot Air
» Gadahn gone … finally?NewsBusters.org
» MSNBC Sees Condoleezza-Gaddafi 'Pillow Talk' in LibyaHot Air
» Return of the wimp factor?Hot Air
» Rasmussen: Dead heat
Nice to know he isn’t sorry for cheating on his wife.
I hope he does poorly betting on real estate with his daddy’s money.
Must not have been from the ever-growing European Muslim population. They would have had his head on a pike overlooking the Danube.
Not a new idea at all.
Hard money lending is booming.
Many will not lend to anyone who is not offering at least a 50% loan to value position. And desperate for a life line to save that 50%.
Often these loans default, and the lender walks away with 100% for ususally less than 50%.
Maybe Congresswoman Laura Richardson could be his first client?
Just about what you would expect from this bottom feeder.
No word on whether that is an upper or a lower level…
Can we call him a Scum Bag?
Europeans are really stupid.
Change!
So he is planning on opening a new line of brothels in Europe and Nevada?
Yeah, flipping real estate is ‘hard work.’ Can you say, MONEY LAUNDERING? If this new venture doesn’t raise red flags regarding Spitzer, then I guess I’m just being cynical. Or does this “honest man” plan on paying his legal bills with his own money, like his pals the Clintons? Oh, wait! The Clintons had a legal defense fund, or at least that’s what “they” called it.
Is this how Democrats “help” with a supposed crisis?
I wonder if Rep. Laura Richardson will join him in this “venture”.
This guy-Spitzer- is revolting. But it is telling the kind of wife that married him…I guess with at least some women…if you are rich enough, these women will put up with anything to keep that visa card going on the next shopping spree…Even though she could walk away from him and still make a cool half million a year….
Just thinking about Spitzer is enough to make me desire a shower..
“He is looking to mine for riches in projects that banks are no longer willing to finance.”
Uhhh…..Does this smell like loansharking to anyone else?
She should at least qualify as one of his early clients.
Why isn’t there a jail cell in this idiots future?
It’s always those culturally-advanced Europeans who have the proper perspective on things.
Feh.
This is shocking. He values the opinions of strangers above those of his friends and associates. Spitzer is a monster and his friends and associates are fools.
Now I’m confused, isn’t hethe “client”
I’d like to know.
If he committed a crime, and the government refuses to charge him and bring him to trial, then is there any recourse at all for the people who want to see justice done?
Yea, Try telling my wife sex with a prostitute is no big deal…and see how that work’s for you…
Maybe he can hire Jim Johnson and Angelo Mozillo.
I am sorry to the good people of New York… I’m sure there are some.
That’s Governor Scum Bag to you!
I would like to see one those passerby do what he did and try that line on their spouse.
“My dear, that little affair was no big deal. You are blowing this way out of proportion and should just forget about it. It’s no big deal”
He probably wouldn’t make that mistake twice, even if he and his wife were Europeans.
Well, for anyone who would invest with him, I have a bridge in Brooklyn that I’ll sell to you.
Well he would know where all the crack whore houses are that can be fixed up.
He has told friends and associates that he is consoled by passersby who stop him on the city sidewalks and tell him that sex is “no big deal” and that the disclosure that he frequented prostitutes was distorted out of proportion
What was that rate of herpes infection in NYC again?
#9, if I recall correctly.
Maybe he believes it good to give, as well as receive?
Poor fella….must’ve been really hard for him to try and appear ethical. Now he can let his true colors fly.
Oh snap.
Heh! Something kept him that way. Oh, wait! Did I misread that?
alaskangrizzly:
Actually, they probably would stone his wife to death for not being willing to please her husband in the weird way he wanted. And don’t forget murdering the call girl for adultery as well…
He’s doing exactly what we do. Unfortunate to be lumped in with jerks like him though.
From the NY Sun article:
I could be cute and ask Spitzer if these “passerby” are the same ladies who frequent the sidewalks of 28th and Lexington, dressed up like Beyonce’s kids, after the nearby bars and restaurants let out.
But after reading about the recent upswing in sexually transmitted diseases in NYC just yesterday, I don’t find Spitzer’s comments (true or made up) to be very comforting.
Apparently, sex was a big deal with Spitzer when he was prosecuting alleged prostitution businesses to score points with the same lunatic feminists who went bonkers over Hillary losing the nomination.
Why here are those passersby now!
“You go Eliot!”
that and he just finished his ‘massage’ with the masseuse..
that’s a coincidence..
he’s ruined his reputation, sounds like he’s out to ruin his dads as well..
Not surprising, he’s a liberal.
Now we’re left with moron patterson. The people deserve who they vote for all I know is I voted for John Faso.
So Spitzer’s indiscretions are just fine because they pass John Kerry’s “global test.”
Why isn’t this guy in jail?
Isn’t patronizing a prostitute, like, I don’t know, ILLEGAL?
answer: was doing publicity for Judge Alex Kozinski’s web site
Nine out of ten prostitutes have told Eliot that “sex with HIM is no big deal”.
LOL, he’s a bottom feeder in more ways than one.
In fact he’s becoming a full time bottom feeder.
?What’s that sucking sound? Why it’s a Spitzermatic.
Spitzer committed offenses more serious than patronizing prostitutes, such as misuse of the state police and various investigative branches for political purposes. The full story on this has not yet come out.
He’s a typical 2-faced Socialist. Maybe being in business will teach him something about how the real world works.
.
absurd thought -
God of the Universe says
sabotage your career
give America a gift
leave politics forever
.
absurd thought -
God of the Universes
LIKES limousine liberals
using their daddy’s money
to hurt capitalism
.
All real freedom starts with freedom of speech. If there is no freedom of speech, then there can be no real freedom.
.
Philosophy of Liberty Cartoon
.
Help Halt Terrorism Today!
.
USpace
.
No it won’t teach him anything…he can always run to his overich daddy for slush…
I am surprised our liberal mascot, lgm, isn’t here telling us how much worse Bush or McCain are than Spitzer.
Is it possible that there is a liberal crook/politician that even he can’t defend?
I thought this an odd passage. Europeans don’t seem to mind much these days, especially the gauling fact that their “sexual trysts” and gay lifestyles don’t seem to be producing enough native population to support its elderly. That’s why countries like Italy have to import healthcare workers from Eastern Europe and South America to take care of them. Sad, that.
Europeans don’t seem to mind sexual trysts because they’re too busy enjoying shortened work days and lots of free stuff like healthcare and education (paid for with higher taxes). Unfortunately, that has also attracted leeches like the Muslim immigrants from Africa and the Middle East who lead more conservative lifestyles (that fidelity, nuclear family model thing) and don’t mind making up for the European lack of family stability or reproduction.
Yep, those Europeans… paying for sex isn’t as bad when countries like The Netherlands get a portion of the profits.
Yes, no wonder Europeans are so perplexed…. I wonder when they’ll make the connection that a lack of an abundant, native population means that there is no counterbalance to Muslim immigrants who want more traditional, Islamic law in place.
Yeah, poor Eliot Spitzer. Poor him. It must suck with those inherited riches and all.
Betting on the subprime mortgage market isn’t a wise investment. Looks like he’ll do about as well in business as he did in politics.
What bugs me is we share the same bithday.
birthday, darn typos
On June 11th, 2008 at 11:34 pm,
lgm was one of the passers-by on the street that told the gov sex was no big deal. They are comforting each other as it were.
best as I can tell.. a vulture fund buys up a bad debt like a mortgage pennies on the dollar ( $100,000 note for $25,000..) and tries to collect an ammount not quite as much but more than was it was bought for.. ( collect $50,000 from the lender to make back the purchase price and then some)
sounds like it is right up his alley..
Then maybe he should move to Europe so they can vote for him. We really should do things more like Europe. But then, we wouldnt have us to come bail us out would we? And oh, yeah, he can take a few supreme court justices with him since they are so enamored of Euro law.