![]()
- White House to Crank Up Pressure on Mortgage Industry
- Treasury Threatens Banks, Not Borrowers
- Dubai World to Restructure About $26 Billion of Debt
- Cramer: Dubai Can’t Sink These 6 Dividend Stocks
- Bove: 26 Banks May Need To Raise More Capital
- Lesson From Dubai: Start Cutting Risk In Your Portfolio
- Iranian Seizure of British Yacht Pushes Oil Above $77
- Should Homeowners Be Able to Stop Paying Mortgage?
- Buffett's Predictions For Next Year—And Every Year
- Treasury Threatens Banks, Not Borrowers
- We're Approaching a Market Bubble: Portfolio Manager
- Hershey Shares: What Options Are Saying
- Nov. 30: Unusual Volume Leaders
- Why Careful Shoppers Are Great for the Box Office
- Blue Nile CEO: 'We're Having the Best Cyber Monday Ever'
- Best Online Retailers to Buy Now: Internet Analyst
- ESPN The Magazine’s Body Issue: A Financial Success
- Cyber Monday: The Last Vestige of Dotcom Hype
MOST SHARED
- Timeless and Time-Tested Warren Buffett Watch Predictions
- Goldman Sachs Party Ban: No Gatherings of 12 or More
- Should Homeowners Be Able To Walk Away From Mortgage?
- Dubai World Set to Restructure About $26 Billion of Total Debt
- Nov. 30: Unusual Volume Leaders
- Bove: 26 Banks May Need To Raise More Capital
- Notre Dame Fires Charlie Weis After 5 Seasons
- Treasury Threatens Banks, Not Borrowers
- Blue Nile CEO: 'We're Having the Best Cyber Monday Ever'
- Oil Demand Sees Year-Over-Year Rise, First Since 2007
Former New York Governor Eliot Spitzer hasn’t learned a thing from his recent ordeals and has destroyed as much value as anybody else in America, Kenneth Langone, former director of the New York Stock Exchange, told CNBC Tuesday.
“The most distressing thing about what I saw last week was I don’t think he’s learned a thing … I can only imagine how tormented he is. He’s a pathetic soul,” Langone told CNBC.
The comments came in response to Spitzer's comments on "Squawk Box" last week and it in the wake of Spitzer's return to public life following his prostitution scandal.
Langone and Spitzer have been at odds aver since Spitzer tried to claw back more than $100 million in pay from the New York Stock Exchange’s former Chairman Richard Grasso.
“Every nickel that Dick (Grasso) got reflected 37 or 36 years of service. The reason he got so much was they had this plan in place that was before we got there and the accumulation of credit drove that number,” Langone said.
- Watch the first part of the CNBC interview with Kenneth Langone above, the second part here >>> and the third part here >>>
Spitzer claimed the payment was too much for a not-for-profit organization to issue and told CNBC last week it was “one of the most egregious examples of corporate pay abuse that I’ve ever seen.”
The civil lawsuit also named Langone during its four-month probe over Grasso's pay, which eventually saw the NYSE change its not-for-profit status.
"We won a summary judgment that said (Grasso) had to pay back $100 million. Then they appealed, saying we have the exchange converted to a not-for-profit to a for-profit status and since we're for profit you don't have jurisdiction," Sptizer told CNBC.
In response Tuesday, Langone said that Spitzer’s pursuit of justice was perverted. He also said that the legal expenses associated with case were in the region of $80 million.
“I heard he’s getting ready to run (for office) again, if he is, I think he ought to be forthright with the public and say here’s everything about me you should know,” Langone said.
“If he’s into repentance, let him go off and work in a soup kitchen one day a week. The tragedy is, he was born on third base and he thought he hit a triple, it’s that simple,” Langone added.
- Ever wished your cab driver would stop chatting and just get to where you're going? Well, that moment is closer than ever.
- UPS is giving its customers the option to offset its carbon emissions when sending a package.
- Romania's presidential campaign has been rocked by a video that may show the president striking a 10-year-old boy.
- Raising alligators is hard work, and the fickle taste of rich consumers has just made it much harder, says the NY Times.
- A recent issue of ESPN Magazine was one of its top sellers ever, and it only took scantily clad athletes to make it happen.
- The continued real estate boom in China is partially fueled by a generational flood of newlyweds.










