
For a time, it appeared that New York Atty. Gen. Andrew Cuomo was following the steps of former Gov. Eliot Spitzer, clearing a path to the governorship by targeting overpaid Wall Street titans.
His investigation of AIG bonus payments is a sure crowd pleaser, much like Spitzer’s probe into the pay of Dick Grasso, former head of the New York Stock Exchange.
But it now seems that Cuomo may find his political leverage closer to home. His examination of pay-for-play arrangements by officials overseeing the state pension fund has legs. Two former top officials have been indicted; another defendant has pleaded guilty.
Steven Rattner, head of the Obama administration’s auto task force, has been identified as one of the execs who courted investments from those under investigation. Other state and financial leaders are likely to be drawn in, in coming months.
So far, advantage Cuomo.
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