Banking, finance, and taxes
Market So Bad, Even Ex-Spitzer Target Stocks Close Much Lower (NYSE, AIG, JNS, MMC, MER)
Published:
By now you have heard news of New York Governor Eliot Spitzer’s involvement in a prostitution ring. So much for crime and ethics fighters being immune from temptation. But what we wanted to see was if this helped some of the old Eliot Spitzer target company, and shockingly this news did not even help these companies close in positive territory or even lend much aid from a bear bite.
Our apologies for not being able to include the full list because it was much more extensive than this. Below is how these major former target companies closed, and they all closed down with a weak market:
Spitzer was not a great loved brother on Wall Street despite his actions cleaning up many business practices in various industries. A better market or a decent day may have helped these stocks close higher. This is just more reminder that we are in a bear market.
Jon C. Ogg
March 10, 2008
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