The nation’s largest insurance brokerage house today became the latest major company to settle a lawsuit with New York’s crusading Attorney General Eliot Spitzer. Marsh & McLennan agreed to pay 850-million-dollars to end an investigation into charges it took payoffs from insurance companies to steer clients their way.
Spitzer, a candidate for Governor of New York in 2006, has become the nation’s most visible prosecutor of corporate malfeasance. He is also one of the favorite targets of business groups and The Wall Street Journal editorial page, who accuse him of overstepping his authority and bullying companies into settlements to further his political ambitions.
Eliot Spitzer addressed his critics earlier today in a speech at the National Press Club. Hear an excerpt of what he had to say.
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