Spitzer Soils Himself

When Dick Grasso woke up this morning, did he sniff the schadenfreude in the air? How about Hank Greenberg? Or John Whitehead? Or Charlie Gasparino?

If you haven’t heard by now, New York Gov. Eliot Spitzer has been identified as Client #9 of the Emperors Club — where having no clothes is expected. Actually, it’s not so much a brothel as it is a high-end prostitution ring, which Spitzer apparently utilized in Washington DC. If only he’d done so in Rhode Island, where such things are still actually legal… But I digress.

The blogs are obviously having great fun (DealBreaker is probably getting more pleasure from this than Spitzer did from his escort), and more than a few of Spitzer’s targets will certainly be buying rounds. I’d also wager that private equity pros are breathing a sigh of relief, as they regularly expressed concern that Spitzer would eventually turn his sights toward them (even from the Governor’s Mansion).

Spitzer dragged his wife out in front of the cameras earlier this afternoon, but did not address his political future. I’d assume that’s more a function of proedure than intent. For all intents and purposes, the watchdog has been fatally shot.