Spitzer vs. the Little Guys

In my op-ed in today's Wall Street Journal, I comment on how Eliot Spitzer, who fashions himself as a champion of the "little guy" investor, has really done nothing to help the investors' cause. Very little of the $1.4 billion global Wall Street settlement will ever reach the pockets of the little guys who were victimized by fraudulent Wall Street research. Spitzer promised that his efforts would help investors win their securities arbitration cases before the NASD and the NYSE but that has not happened. The results of the arbitration cases have been a disaster for investors.

If Eliot Spitzer wants to help the little guy, he should put his clout behind improving the investor arbitration system which right now is broken and favors the Securities Industry.

You can view my Wall Street Journal article on my website www.zamansky.com.