3.12.2008

Spitzer Resigns




NEW YORK (Reuters) - Trading desks across the United States stopped on Wednesday to watch the resignation speech of New York Gov. Eliot Spitzer, fascinated by the downfall of the man who built a career on investigating Wall Street crimes.

This is bigger than (Fed Chairman Ben) Bernanke, bigger than oil, and it may be even bigger than the Super Bowl," said Brian Taylor, head currency trader at M&T Bank in Buffalo, New York.

"Everybody is glued to their desks. No one has made as many enemies on Wall Street as Spitzer did -- The Street is loving it and I wouldn't be surprised to hear a big cheer throughout the trading desk when he goes," Taylor added.

Gotta Love thee traders perspective.