New York governor Eliot Spitzer resigned, not because he cheated on his wife, but because he paid an escort to keep him company. Hopefully, he had a mind-blowing experience, given that it cost him $4,000 plus. Spitzer made a career of going after white collar miscreants, and some have accused him of hypocrisy for insisting in public that investment bankers act in good faith, while consorting with hookers in private.
I’m not sure where the inconsistency is. If you’re in investment research, and you publish a report advising people to buy a stock that you wouldn’t buy yourself, you’re actually harming someone. If you spend $80,000 on prostitutes, that’s exploitation. But doesn’t Eliot have the right to allow hookers to exploit him?
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