Eliot Spitzer: A Crusader of Corporate Reform



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Code : GOV0011

Year :
2004

Industry : Business Law, Governance and Ethics

Region : USA

Teaching Note:Not Available

Structured Assignment :Not Available

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Abstract: Since 1999, New York state Attorney General, Eliot Spitzer has been carrying out a battery of investigations against several companies spanning many industries. One such industry that bore the brunt of his crusade was investment banking. Wall Street firms like Merrill Lynch, Alliance Capital and Marsh & McClennan had to do a lot of explanation regarding their business practices. Spitzer's methods of investigation are drawing criticism from Wall Street firms and regulatory bodies that question his motives and authority.

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Pedagogical Objectives:

  • To evaluate the unconventional methods Spitzer adopts to expose unethical business practices in firms across industries, especially financial services
  • To discuss the efficiency and effectiveness of Spitzer's strategies and the long-term impact they might have on industry practices
  • To discuss the validity of Spitzer's positive motives and authority in his investigations.

    Keywords :Corporate Governance Case Study, Eliot Spitzer, New York state attorney general, Merrill Lynch, Mutual fund industry, Canary Capital, Martin Act, Insurance brokerage industry, Marsh & McClennan, Payola, Rudolph Guiliani, Jeffrey Greenberg, AIG

    Contents :
    » The Making of a Crusader
    » Taking on the Wall Street Heavyweights
    » Spitzer’s Method


    Case Introduction >>


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