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He made his political name on hammering corruption and immorality. And as we all suspect, the sexual power that Spitzer acquired during his stint as NY State's Attorney General made him feel invincible.
Self-knowledge helps us investigate; willful denial impedes investigation. Yet Spitzer alone was able to use both attributes for his crusades. He recognized his predatory streak clearly enough that he had to split his delinquent private self from his public concerns. But this very act of denial helped him recognize what motivated the leaders of AIG and other Wall Street giants...
We can learn the most about Spitzer from his own words, not just his deeds. In a November 16, 2008, Washington Post op-ed piece—seven months after the Mayflower Hotel sting—Spitzer wrote: “No major market problem has been resolved through self-regulation, because individual competitive behavior doesn't concern itself with the larger market. Individual actors care only about performing better than the next guy, doing whatever is permitted—or will go undetected.”
Who could know better about the failure of self-regulation than someone who has a sexual addiction? And who could understand the power of greed better than one who regularly succumbs to sexual compulsion?
“Long-Term Capital Management, Enron, the subprime lending scandals: All are classic demonstrations of the bitter reality that greed, not self-discipline, rules where unfettered behavior is allowed.” The best way to stop a sexual perversion, such as an obsession with prostitutes, is to talk about it—telling one’s wife, for example. In marriage, it’s called honesty; in business, it’s called transparency...