Spitzer Blasts AIG Bailout, Says He Was 1st On Beat

By: Associated Press
By: Associated Press

ALBANY, N.Y. (AP) -- Former New York Governor Eliot Spitzer has a few words to say about the fuss over the bonuses paid out bailed out insurer AIG: I told you so.

Spitzer battered AIG with charges of corruption long before his own downfall in a prostitution scandal. Now he's using the AIG scandal to strike his old Sheriff of Wall Street themes.

Spitzer says the AIG bonus issue is "penny ante" compared to the billions of the insurer's bailout money funneled to bad banks. And he says that Treasury Secretary Timothy Geithner owes America an explanation, quickly.

Spitzer tells CNN that he probed AIG because of the way it would push boundaries to "gin up returns" with little regard to risk.

The tough talk raises the question about whether Spitzer, who now tends to his family's real estate business, is mounting a comeback bid.

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