Eliot Spitzer Attack against U.S. Chamber of Commerce is Left-Wing Politics at its Worst

Washington, DC – This statement was issued today by Tom Borelli, Ph.D., director of the Free Enterprise Project:

Eliot Spitzer’s commentary in Slate (“Chamber of Horrors,”http://www.slate.com/id/2232441/) calling for state pension funds to pressure corporations to leave the U.S. Chamber of Commerce reminds us of his past efforts to climb the political ladder on the backs of business executives.  Instead of worrying about the Chamber, state officials should be investigating pension funds for potential conflicts of interest and for using their shareholder standing to advance the left-wing agenda.

Spitzer’s commentary exposes the left-wing strategy of using public money to advance its cause.  Spitzer’s political motivation is clear: because the Chamber is fighting cap-and-trade and “Card Check” they need to be taken out.

While Attorney General of New York, Spitzer used the power of the state and his sharp elbows to loot business leaders of their property and reputation.

Spitzer’s legal assault against former New York Stock Exchange head Dick Grasso serves as a prime example.  In this case, New York was forced in to a drawn-out legal battle because Grasso and Ken Langone — a NYSE board member — refused to genuflect at Spitzer’s altar.

Spitzer’s investigation “included 1,454 hours of depositions” and, ironically, he attacked Grasso’s personal life. Spitzer deposed Grasso’s secretary and inquired about an affair, and, during his nine-day deposition, Grasso was asked if he had a love child.

Paradoxically, it’s the pension funds that need investigation by state officials.  For years, state pension funds have been working with labor unions and environmental groups to advance the left-wing agenda, including pressuring corporations to address global warming.  Pension funds, facing serious shortfalls, should focus their time and efforts on investment strategies — not politics.

In fact, a front page story, “Calpers Rocked By ‘Pay-to-Play'” in today’s Wall Street Journal, reports on a possible conflict of interest involving a former board member who “reaped more than $50 million in fees for arranging investments that could saddle state taxpayers with hundreds of millions of dollars in losses.”

Spitzer is nothing more than a left-wing political hack leading the charge against liberty and free-markets.

The Free Enterprise Project is a program of the National Center for Public Policy Research.  It can be visited online at www.freeenterpriser.com.

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