February 26, 2010
This blog is not about politics. We stick to personal finance and investing - that's been our job here for 40 years. But how long can New York State lead the world in finance without good leadership? Our current Governor, David Paterson, came into office with the resignation of Eliot Spitzer two years ago. You remember Eliot, a crusading prosecutor (I admired that) who resigned after a scandal revealed his hypocrisy (not that).
Paterson became an accidental governor, a longtime Democrat back-bencher of little renown, but whose candid use of the bully pulpit found early favor among cynical New Yorkers like me. But his missteps, and credible reports of questionable judgment have now seemed to blossom into genuine scandal. Almost makes you miss Eliot Spitzer or even George Pataki (almost). The current NY Lieutenant Governor, Richard Ravitch, could be an able and untainted caretaker until voters could choose a governor in November.
New York is the world's financial capital. We need an honest and capable governor. David Paterson can help by resigning now.
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).