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These are the user uploaded subtitles that are being translated: 1 00:00:15,515 --> 00:00:17,599 What I'm most proud of as attorney general 2 00:00:17,767 --> 00:00:19,768 is that we were wiIIing to waIk into the buzz saw 3 00:00:19,936 --> 00:00:23,439 of some very powerfuI interests and never back down. 4 00:00:23,606 --> 00:00:25,482 Look, I had a simpIe ruIe: 5 00:00:25,650 --> 00:00:28,777 I never asked if a case was popuIar or unpopuIar, 6 00:00:28,945 --> 00:00:31,321 never asked if it was big or smaII, 7 00:00:31,489 --> 00:00:32,906 hard or easy; 8 00:00:33,074 --> 00:00:35,492 I simpIy asked if it was right or wrong. 9 00:00:43,251 --> 00:00:45,794 Man: I wiII never forget that moment. 10 00:00:45,962 --> 00:00:47,421 Woman: I was dumbfounded. 11 00:00:51,551 --> 00:00:53,469 Man: I can't say I was sorry. 12 00:00:53,636 --> 00:00:56,138 ♪ Start spreading the news... ♪ 13 00:00:57,640 --> 00:01:00,809 Man: It was Iike, "You've gotta be kidding." 14 00:01:00,977 --> 00:01:03,896 ♪ I want to be a part of it... ♪ 15 00:01:04,064 --> 00:01:05,981 ( siren bIares ) 16 00:01:06,149 --> 00:01:09,443 ♪ New York, New York... ♪ 17 00:01:09,611 --> 00:01:12,237 Man: He was going to be our first Jewish president. 18 00:01:12,405 --> 00:01:16,325 ♪ These vagabond shoes... ♪ 19 00:01:16,493 --> 00:01:17,993 Woman: There was corporate corruption; 20 00:01:18,161 --> 00:01:19,912 greed had seemed to hit its peak; 21 00:01:20,080 --> 00:01:21,705 and he was fighting aII of that. 22 00:01:21,873 --> 00:01:24,500 ♪ Right through the very heart of it ♪ 23 00:01:25,919 --> 00:01:28,796 ♪ New York, New York ♪ 24 00:01:34,135 --> 00:01:37,179 ♪ I want to wake up in a city ♪ 25 00:01:37,347 --> 00:01:39,348 ♪ That doesn't sIeep ♪ 26 00:01:40,725 --> 00:01:42,434 ♪ To find I'm cream of the crop ♪ 27 00:01:42,602 --> 00:01:45,562 ♪ On top of the heap ♪ 28 00:01:48,775 --> 00:01:53,195 ♪ These IittIe town bIues ♪ 29 00:01:53,363 --> 00:01:55,322 ♪ Are meIting away ♪ 30 00:01:56,908 --> 00:01:59,201 ♪ I'II make a brand-new ♪ 31 00:01:59,369 --> 00:02:01,537 ♪ Start of it... ♪ 32 00:02:01,704 --> 00:02:04,289 Narrator: On the face of it, the faII of Governor Spitzer 33 00:02:04,457 --> 00:02:06,667 was just another sex scandaI. 34 00:02:08,586 --> 00:02:10,921 Was it a private matter? 35 00:02:11,089 --> 00:02:13,048 Or a pubIic reckoning? 36 00:02:13,216 --> 00:02:15,425 ♪ Oh New York... ♪ 37 00:02:15,593 --> 00:02:17,553 Narrator: And what of the timing? 38 00:02:17,720 --> 00:02:19,429 A few months after his resignation, 39 00:02:19,597 --> 00:02:21,682 the reckIess banks Spitzer had poIiced 40 00:02:21,850 --> 00:02:23,851 brought the economic system close to failure. 41 00:02:24,018 --> 00:02:26,395 ♪ I'II make it anywhere ♪ 42 00:02:26,563 --> 00:02:29,731 ♪ New York... ♪ 43 00:02:29,899 --> 00:02:32,109 Everyone agreed on one thing: 44 00:02:32,277 --> 00:02:35,696 no one expected him to go down Iike he did. 45 00:02:35,864 --> 00:02:39,741 ♪ New York. ♪ 46 00:02:40,743 --> 00:02:45,747 It is to a certain extent a very cIassic taIe, perhaps, 47 00:02:45,915 --> 00:02:50,544 of an individual who from the exterior 48 00:02:50,712 --> 00:02:54,006 appears to have been captured by hubris; 49 00:02:54,174 --> 00:02:56,967 a sense of standing for virtues 50 00:02:57,135 --> 00:02:59,136 and, I think, working very hard 51 00:02:59,304 --> 00:03:01,763 to articuIate and work 52 00:03:01,931 --> 00:03:06,560 towards estabIishing ruIes and boundaries, 53 00:03:06,728 --> 00:03:09,980 but then, himseIf, sIipping and faiIing. 54 00:03:10,148 --> 00:03:12,232 And this goes back to the days of Greek mythoIogy. 55 00:03:12,400 --> 00:03:14,651 This is not-- it's not a new story. 56 00:03:22,952 --> 00:03:24,995 HuIbert WaIdroup: In New York, everyone-- 57 00:03:25,163 --> 00:03:29,708 everyone's Iike some sort of an animal, you know? 58 00:03:29,876 --> 00:03:32,794 They're some sort of an animaI. 59 00:03:32,962 --> 00:03:35,797 They're hungry to make more money, 60 00:03:35,965 --> 00:03:38,258 hungry to get more sex, 61 00:03:38,426 --> 00:03:40,802 to date a prettier girI or a richer guy. 62 00:03:40,970 --> 00:03:43,305 Just-- just hungry, just greedy, 63 00:03:43,473 --> 00:03:45,265 just animaIs. 64 00:03:48,728 --> 00:03:50,687 This Chinese phiIosopher said that 65 00:03:50,855 --> 00:03:54,399 human beings are a hybrid 66 00:03:54,567 --> 00:03:59,279 between animaIs and angeIs, 67 00:03:59,447 --> 00:04:04,076 that we're capable of animaIistic behavior. 68 00:04:05,828 --> 00:04:07,996 Consider sex and war. 69 00:04:08,164 --> 00:04:11,166 But we're capable of doing beautifuI things too, Iike art, 70 00:04:11,334 --> 00:04:14,920 music or making Iove, you know? 71 00:04:15,088 --> 00:04:17,506 What-- I was just contempIating that. 72 00:04:17,674 --> 00:04:19,007 l was like, "Wow, I kinda dig that. 73 00:04:19,175 --> 00:04:21,635 We're haIf angeI, haIf animaI." 74 00:04:31,271 --> 00:04:33,272 Good afternoon. 75 00:04:33,439 --> 00:04:37,025 Over the past nine years-- eight years as attorney generaI 76 00:04:37,193 --> 00:04:39,695 and one as governor-- I have tried to uphoId 77 00:04:39,862 --> 00:04:41,738 a vision of progressive politics that would 78 00:04:41,906 --> 00:04:45,492 rebuiId New York and create opportunity for all. 79 00:04:45,660 --> 00:04:48,036 We sought to bring reaI change to New York, 80 00:04:48,204 --> 00:04:50,122 and that wiII continue. 81 00:04:50,290 --> 00:04:54,084 Today, I want to briefIy address a private matter. 82 00:04:54,252 --> 00:04:56,795 I have acted in a way that vioIates my obIigations 83 00:04:56,963 --> 00:05:00,674 to my family, and that vioIates my, or any, 84 00:05:00,842 --> 00:05:03,427 sense of right and wrong. 85 00:05:11,477 --> 00:05:14,229 Narrator: Spitzer's wrong turn surprised everyone, 86 00:05:14,397 --> 00:05:17,274 because he had a reputation as Mr. Right. 87 00:05:17,442 --> 00:05:19,151 As Attorney GeneraI of New York 88 00:05:19,319 --> 00:05:21,445 he was known as the Sheriff of WaII Street, 89 00:05:21,612 --> 00:05:24,197 someone determined to take on powerfuI interests 90 00:05:24,365 --> 00:05:27,326 on behaIf of those who couIdn't afford to. 91 00:05:28,703 --> 00:05:31,371 LIoyd Constantine: This was a guy who understood 92 00:05:31,539 --> 00:05:35,083 that he had been a member of the lucky-sperm club. 93 00:05:35,251 --> 00:05:38,170 He was reaIIy smart. He was weaIthy. 94 00:05:38,338 --> 00:05:40,172 So he had gotten a Iot of breaks in Iife, 95 00:05:40,340 --> 00:05:43,800 and he wanted to-to-- to use that, 96 00:05:43,968 --> 00:05:46,887 you know, to better the worId. 97 00:05:47,055 --> 00:05:51,099 Narrator: Spitzer's father Bernard was a seIf-made reaI-estate tycoon 98 00:05:51,267 --> 00:05:53,268 who sent his son to an eIite prep schooI, 99 00:05:53,436 --> 00:05:55,687 Princeton and Harvard Law SchooI, 100 00:05:55,855 --> 00:05:59,524 where he met his wife-to-be SiIda WaII. 101 00:05:59,692 --> 00:06:02,694 His father had pushed him to succeed. 102 00:06:02,862 --> 00:06:04,988 We debated issues around the dining-room tabIe. 103 00:06:05,156 --> 00:06:07,366 And so I guess it was more of a symposium 104 00:06:07,533 --> 00:06:10,619 than a touchy-feeIy environment. 105 00:06:10,787 --> 00:06:13,747 We were taught not to embrace 106 00:06:13,915 --> 00:06:15,665 a notion, a principIe, a fact 107 00:06:15,833 --> 00:06:17,667 mereIy because somebody had asserted it. 108 00:06:17,835 --> 00:06:19,378 ChaIIenge them, push back-- 109 00:06:19,545 --> 00:06:22,214 that was part of the conversation. 110 00:06:23,758 --> 00:06:25,342 Narrator: For a reaI-estate famiIy, 111 00:06:25,510 --> 00:06:27,928 MonopoIy takes on a speciaI edge. 112 00:06:28,096 --> 00:06:29,805 Sure, it's a game. 113 00:06:29,972 --> 00:06:32,224 But it's aIso a way for a father to teach his son 114 00:06:32,392 --> 00:06:35,185 some Iessons about money and power. 115 00:06:35,353 --> 00:06:37,437 Look, I don't want the impression to be that he wasn't-- 116 00:06:37,605 --> 00:06:39,606 he was devoid of compassion, but it is true 117 00:06:39,774 --> 00:06:41,441 he forecIosed on me in a MonopoIy game. 118 00:06:43,277 --> 00:06:45,362 Narrator: Bernard Spitzer tricked his son into seIIing 119 00:06:45,530 --> 00:06:47,572 BoardwaIk and Park PIace for cheap, 120 00:06:47,740 --> 00:06:50,409 then wiped him out when he Ianded on a built-up Boardwalk. 121 00:06:52,245 --> 00:06:54,996 The Iesson: don't trust anyone. 122 00:06:55,164 --> 00:06:57,249 But l think really what he was trying to do 123 00:06:57,417 --> 00:07:00,669 was teach me how the market worked. 124 00:07:00,837 --> 00:07:03,380 And MonopoIy's a fun game, but I had overbuiIt 125 00:07:03,548 --> 00:07:05,924 and overextended and he said, "I'm sorry, that's it. 126 00:07:06,092 --> 00:07:08,051 There are consequences and you've Iearned a Iesson." 127 00:07:08,219 --> 00:07:09,636 Interviewer: What was your response at the time? 128 00:07:09,804 --> 00:07:11,763 Oh, I cried. I think I was about 10. 129 00:07:11,931 --> 00:07:13,265 I mean, I was a kid. 130 00:07:13,433 --> 00:07:15,392 It was-- it was-- it was no fun. 131 00:07:15,560 --> 00:07:17,519 I wanted to-- I wanted to be bailed out. 132 00:07:17,687 --> 00:07:19,938 Constantine: Bernie is a guy who judges peopIe. 133 00:07:20,106 --> 00:07:21,731 That's a tough thing for a kid. 134 00:07:21,899 --> 00:07:25,026 I do remember him watching Eliot and me play tennis. 135 00:07:25,194 --> 00:07:29,781 And after one particular serve and voIIey of mine, which I won, 136 00:07:29,949 --> 00:07:31,950 he gave me that victory sign, and he said, 137 00:07:32,118 --> 00:07:34,286 "Yeah, that's exactIy what to do to him." 138 00:07:40,543 --> 00:07:44,212 EIiot's strategy is to stick with his core game: 139 00:07:44,380 --> 00:07:47,090 hard shots, serve and voIIey. 140 00:07:48,843 --> 00:07:51,928 Spitzer: But my refIexes are good. 141 00:07:52,096 --> 00:07:53,555 Yeah! 142 00:07:53,723 --> 00:07:55,015 I Iove to get in to net. 143 00:07:56,809 --> 00:07:58,185 Good shot. 144 00:07:58,352 --> 00:08:00,896 As I say, the game I used to have keeps getting better. 145 00:08:02,732 --> 00:08:04,816 Narrator: EIiot Spitzer's notion 146 00:08:04,984 --> 00:08:06,943 of pubIic service was Iike his tennis game: 147 00:08:07,111 --> 00:08:09,321 attack attack attack. 148 00:08:09,489 --> 00:08:11,740 Good morning, and thank you for coming. 149 00:08:11,908 --> 00:08:14,284 Narrator: As attorney generaI, Spitzer saw an opportunity 150 00:08:14,452 --> 00:08:16,161 to do more than enforce the Iaw. 151 00:08:16,329 --> 00:08:19,539 He wanted to use the Iaw to change the way society worked. 152 00:08:19,707 --> 00:08:22,167 He sued coaI-fire pIants in Ohio 153 00:08:22,335 --> 00:08:24,169 for causing poIIution in New York. 154 00:08:24,337 --> 00:08:26,129 He sued GeneraI EIectric for dumping 155 00:08:26,297 --> 00:08:28,298 poisonous waste into the Hudson River. 156 00:08:28,466 --> 00:08:30,634 He uncovered fraud in the pharmaceuticaI industry, 157 00:08:30,801 --> 00:08:33,303 where pill makers hid the damage done by their drugs, 158 00:08:33,471 --> 00:08:35,722 fought for minimum wage for deIiverymen 159 00:08:35,890 --> 00:08:38,642 and forced upscaIe restaurants to hire more women. 160 00:08:38,809 --> 00:08:42,103 He wouId take them aII on, because no one eIse wouId. 161 00:08:44,273 --> 00:08:45,857 Peter EIkind: There's a reason why EIiot Spitzer 162 00:08:46,025 --> 00:08:47,776 became famous as New York's attorney generaI. 163 00:08:47,944 --> 00:08:49,653 The job had been a second-tier position. 164 00:08:49,820 --> 00:08:53,281 lt had been focused on reguIating crooked car deaIers. 165 00:08:53,449 --> 00:08:55,200 And EIiot Spitzer focused on WaII Street, 166 00:08:55,368 --> 00:08:57,244 on the biggest guys around. 167 00:08:57,411 --> 00:09:00,038 And Spitzer's premise, which was right, 168 00:09:00,206 --> 00:09:02,415 was that Wall Street can't be Ieft to reguIate itseIf 169 00:09:02,583 --> 00:09:04,709 or terribIe things wiII happen. 170 00:09:04,877 --> 00:09:09,089 When l assumed office, which was January of 1999, 171 00:09:09,257 --> 00:09:11,883 we were in a period where Wall Street 172 00:09:12,051 --> 00:09:14,219 and investment bankers were, to use Tom Wolfe's 173 00:09:14,387 --> 00:09:15,887 great phrase, masters of the universe. 174 00:09:16,055 --> 00:09:18,348 Narrator: To protect the average citizen, 175 00:09:18,516 --> 00:09:21,434 Spitzer was wiIIing to prosecute bankers and CEOs 176 00:09:21,602 --> 00:09:23,728 Iike any other Iawbreakers. 177 00:09:23,896 --> 00:09:25,981 Spitzer: In the course of this investigation, 178 00:09:26,148 --> 00:09:28,858 my office deveIoped evidence indicating that analysts 179 00:09:29,026 --> 00:09:30,569 gave misIeading advice 180 00:09:30,736 --> 00:09:33,238 that heIped the brokerage's investment banking cIients, 181 00:09:33,406 --> 00:09:35,532 but harmed individuaI investors. 182 00:09:35,700 --> 00:09:37,409 When we first got into this, everybody said, 183 00:09:37,577 --> 00:09:39,452 "Well, what's the state attorney generaI's office 184 00:09:39,620 --> 00:09:41,913 in New York doing going after this probIem? 185 00:09:42,081 --> 00:09:43,915 ShouIdn't this be the SEC?" 186 00:09:44,083 --> 00:09:46,626 And my response was, "Yes, but they haven't. 187 00:09:46,794 --> 00:09:48,211 And if they haven't, 188 00:09:48,379 --> 00:09:50,922 and there are investors being ripped off, we wiII do it." 189 00:09:58,097 --> 00:10:00,098 Narrator: WaII Street anaIysts advise buyers 190 00:10:00,266 --> 00:10:02,475 on what stocks Iook good or bad. 191 00:10:02,643 --> 00:10:05,729 With the rise of the lnternet, anaIysts became superstars, 192 00:10:05,896 --> 00:10:07,564 because only they seemed to understand 193 00:10:07,732 --> 00:10:09,691 how to value Internet companies. 194 00:10:09,859 --> 00:10:11,735 As stocks soared, so did the vaIue 195 00:10:11,902 --> 00:10:13,903 of anaIysts who knew how to pick them. 196 00:10:14,071 --> 00:10:15,572 The more money they made, 197 00:10:15,740 --> 00:10:18,158 the more potential there was for abuse. 198 00:10:21,621 --> 00:10:23,705 Henry Blodget was a faiIed writer 199 00:10:23,873 --> 00:10:25,832 who stumbIed into being a top research anaIyst 200 00:10:26,000 --> 00:10:27,876 when, as a young stock picker, 201 00:10:28,044 --> 00:10:30,712 he predicted the rise of Amazon.com. 202 00:10:32,089 --> 00:10:34,549 By 2001 he was working for MerriII Lynch, 203 00:10:34,717 --> 00:10:37,093 making $12 miIIion a year. 204 00:10:38,846 --> 00:10:42,349 When one of MerriII's customers sued BIodget for phony research, 205 00:10:42,516 --> 00:10:44,517 Spitzer's team investigated him, 206 00:10:44,685 --> 00:10:46,978 using an arcane law caIIed the Martin Act 207 00:10:47,146 --> 00:10:49,397 to subpoena thousands of documents and emaiIs 208 00:10:49,565 --> 00:10:51,232 in search of fraud. 209 00:10:52,777 --> 00:10:55,487 As Spitzer's team pored through BIodget's emaiIs, 210 00:10:55,655 --> 00:10:58,573 they kept coming across the term POS. 211 00:10:58,741 --> 00:11:01,076 They thought POS was short for "positive," 212 00:11:01,243 --> 00:11:04,079 for stocks BIodget wanted customers to buy. 213 00:11:04,246 --> 00:11:07,499 But then they stumbIed upon BIodget's keyword chart. 214 00:11:11,879 --> 00:11:15,548 BIodget's emaiIs were honest and brutaIIy downbeat. 215 00:11:15,716 --> 00:11:19,302 MeanwhiIe his officiaI stock ratings were mostIy upbeat, 216 00:11:19,470 --> 00:11:23,264 urging customers to buy buy buy. 217 00:11:24,642 --> 00:11:26,351 Spitzer: Mr. and Mrs. Smith, 218 00:11:26,519 --> 00:11:29,437 whose IRA or 401 (k) is being invested, 219 00:11:29,605 --> 00:11:31,815 they are the sacrificiaI Iambs 220 00:11:31,982 --> 00:11:34,359 and being used to prop up the stock 221 00:11:34,527 --> 00:11:36,236 so that the MerriII Lynches of the worId can then 222 00:11:36,404 --> 00:11:38,530 go to the companies and say, "See what we're doing for you? 223 00:11:38,698 --> 00:11:40,657 Bring us your investment banking business." 224 00:11:40,825 --> 00:11:42,951 It was fundamentaIIy corrupt. 225 00:11:43,119 --> 00:11:44,953 Narrator: It was insider's MonopoIy, 226 00:11:45,121 --> 00:11:48,123 guided by a basic fundamentaI principIe. 227 00:11:48,290 --> 00:11:50,333 You don't go south of 14th Street 228 00:11:50,501 --> 00:11:52,168 except for one reason: to make money. 229 00:11:52,336 --> 00:11:53,712 ( R&B music pIaying ) 230 00:11:53,879 --> 00:11:56,089 The guys on the fIoor, aII they cared about was makin' money. 231 00:11:56,257 --> 00:11:58,842 That's what-- that's-- that's the American way. 232 00:11:59,009 --> 00:12:01,177 Narrator: Jack Grubman was a highly respected 233 00:12:01,345 --> 00:12:03,847 teIecommunications anaIyst for Salomon Smith Barney. 234 00:12:04,014 --> 00:12:06,307 ♪ Close shooting don't kiII no birds... ♪ 235 00:12:06,475 --> 00:12:09,060 He became famous for pumping up AT&T's stock 236 00:12:09,228 --> 00:12:11,730 to pIease his boss Sandy WeiII. 237 00:12:11,897 --> 00:12:14,274 Then WeiII heIped Grubman get his twins 238 00:12:14,442 --> 00:12:16,568 into an excIusive preschooI. 239 00:12:16,736 --> 00:12:18,737 Grubman's payday for research? 240 00:12:18,904 --> 00:12:20,572 $20 miIIion a year, 241 00:12:20,740 --> 00:12:23,575 enough to buy a palace on the Upper East Side. 242 00:12:23,743 --> 00:12:25,910 ♪ Take food from my famiIy's mouth ♪ 243 00:12:26,078 --> 00:12:27,954 ♪ Before the money came... ♪ 244 00:12:30,040 --> 00:12:31,583 Narrator: Grubman's career ended 245 00:12:31,751 --> 00:12:33,418 when he relentlessly pumped up the stock 246 00:12:33,586 --> 00:12:35,420 of a company caIIed WorIdCom, 247 00:12:35,588 --> 00:12:38,590 just before it went bankrupt. 248 00:12:38,758 --> 00:12:40,008 Do you regret, in hindsight, 249 00:12:40,176 --> 00:12:42,677 staying so buIIish on the company for so Iong? 250 00:12:42,845 --> 00:12:45,722 Nothing-- look, why are you harassing me 251 00:12:45,890 --> 00:12:47,140 - Iike this? - I'm not harassing you. 252 00:12:47,308 --> 00:12:49,893 I'm just asking you questions about the company that you cover. 253 00:12:50,060 --> 00:12:52,479 This caught you compIeteIy by surprise, you say. 254 00:12:52,646 --> 00:12:56,232 Yes. 255 00:12:56,400 --> 00:12:57,567 - Thank you. - Yeah. 256 00:12:57,735 --> 00:12:59,194 ♪ Before the money ♪ 257 00:12:59,361 --> 00:13:04,407 ♪ Started roIIin' in. ♪ 258 00:13:04,575 --> 00:13:05,617 There was aIways this-- 259 00:13:05,785 --> 00:13:08,787 internally we called it the come-to-Jesus moment, 260 00:13:08,954 --> 00:13:12,207 where we went to whoever it was we were prepared to sue 261 00:13:12,374 --> 00:13:15,627 and/or, you know, go after, you know, for doing something wrong 262 00:13:15,795 --> 00:13:18,087 and we'd say to 'em in no uncertain terms, 263 00:13:18,255 --> 00:13:20,715 "Tell us why, given this fact pattern, 264 00:13:20,883 --> 00:13:23,760 we wouId be wrong to sue your ass." 265 00:13:23,928 --> 00:13:25,845 Spitzer: EarIy on in the investigation, 266 00:13:26,013 --> 00:13:28,473 the MerriII Lynch Iawyers, they came into my office. 267 00:13:28,641 --> 00:13:31,226 They looked at me and they said, "You're right, 268 00:13:31,393 --> 00:13:33,603 but we're not as bad as our competitors." 269 00:13:33,771 --> 00:13:35,688 I was a prosecutor for a lot of years. 270 00:13:35,856 --> 00:13:38,441 I never, you know, heard a defendant 271 00:13:38,609 --> 00:13:40,902 stand up in court and say, "Yeah, I robbed three peopIe, 272 00:13:41,070 --> 00:13:43,905 but somebody over there robbed five, so therefore l'm not bad." 273 00:13:44,073 --> 00:13:46,866 I said to MerriII Lynch-- they wanted to settIe the case and pay some money 274 00:13:47,034 --> 00:13:49,077 and said, "We wiII pay a big sum of money 275 00:13:49,245 --> 00:13:52,080 if you promise to keep the information secret." 276 00:13:52,248 --> 00:13:53,331 And I said no. 277 00:13:53,499 --> 00:13:55,083 Because my job as attorney generaI 278 00:13:55,251 --> 00:13:56,876 is to change the system 279 00:13:57,044 --> 00:13:59,546 so that it's fair and wiII be honest. 280 00:13:59,713 --> 00:14:01,965 And if we seaI the evidence and you pay a check 281 00:14:02,132 --> 00:14:05,301 and we don't change the system, l'm basically being bought off. 282 00:14:05,469 --> 00:14:07,679 My office has reached an agreement that wiII heIp 283 00:14:07,847 --> 00:14:10,306 ensure the integrity of investment advice 284 00:14:10,474 --> 00:14:12,642 on which investors often depend. 285 00:14:12,810 --> 00:14:15,395 Narrator: BIodget and Grubman paid million-dollar fines 286 00:14:15,563 --> 00:14:17,981 and were banned from the securities industry for Iife. 287 00:14:18,148 --> 00:14:20,817 But their firms bought their permanent siIence 288 00:14:20,985 --> 00:14:23,653 with handsome severance packages. 289 00:14:23,821 --> 00:14:26,197 In exchange for Grubman's siIence on the detaiIs 290 00:14:26,365 --> 00:14:28,741 of his firm's behavior, SaIomon Smith Barney 291 00:14:28,909 --> 00:14:31,953 paid Grubman $30 miIIion. 292 00:14:36,000 --> 00:14:38,543 The nation's best and brightest were Iured to WaII Street 293 00:14:38,711 --> 00:14:40,545 in search of fast fortunes. 294 00:14:40,713 --> 00:14:42,547 The money they made fIowed everywhere-- 295 00:14:42,715 --> 00:14:45,300 penthouses, yachts, goIf cIubs-- 296 00:14:45,467 --> 00:14:47,760 and to the oIdest sector of the global economy 297 00:14:47,928 --> 00:14:50,388 ready for a new cash infusion. 298 00:14:50,556 --> 00:14:52,891 I have rich Iovers. 299 00:14:53,058 --> 00:14:57,270 ♪ Love for saIe... ♪ 300 00:14:57,438 --> 00:14:59,606 I don't go out with poor men. 301 00:14:59,773 --> 00:15:01,566 I've got no reason to do so. 302 00:15:01,734 --> 00:15:04,903 ♪ Appetizing young Iove ♪ 303 00:15:05,070 --> 00:15:07,030 ♪ For saIe... ♪ 304 00:15:07,197 --> 00:15:09,157 I don't caII prostitution 305 00:15:09,325 --> 00:15:11,451 and escorting seIIing your body. 306 00:15:11,619 --> 00:15:14,329 ♪ Love for saIe. ♪ 307 00:15:14,496 --> 00:15:16,623 You don't seII, you rent. 308 00:15:16,790 --> 00:15:19,292 I Iove my bank account fuII. 309 00:15:20,669 --> 00:15:23,004 It's better than empty. 310 00:15:24,089 --> 00:15:32,555 ♪ Sex for sugar, sugar for sex ♪ 311 00:15:32,723 --> 00:15:34,724 ♪ What you got, girI, it's so unfair ♪ 312 00:15:34,892 --> 00:15:36,893 ♪ I Iike the way you move so keep it right there ♪ 313 00:15:37,061 --> 00:15:38,978 ♪ Or you can do what you wanna do ♪ 314 00:15:39,146 --> 00:15:41,064 ♪ l'm just glad I am in front with you ♪ 315 00:15:41,231 --> 00:15:43,524 ♪ But I don't mind being butt high ♪ 316 00:15:43,692 --> 00:15:45,443 ♪ 'Cause I'm-a touch you where the sun don't shine... ♪ 317 00:15:45,611 --> 00:15:48,780 WaIdroup: There's a street in SoHo where a lot of artists set up. 318 00:15:48,948 --> 00:15:50,531 l was selling my paintings one day. 319 00:15:50,699 --> 00:15:54,661 And this charismatic feIIow comes along 320 00:15:54,828 --> 00:15:57,288 and he's got a beautifuI girl with him-- 321 00:15:57,456 --> 00:15:59,415 this girlfriend at the time, NataIia. 322 00:15:59,583 --> 00:16:02,627 Said, "This is the number-one escort in New York City. 323 00:16:02,795 --> 00:16:05,088 l run New York's number-one escort agency." 324 00:16:05,255 --> 00:16:07,298 I've never seen you naked. You think your body's good enough? 325 00:16:07,466 --> 00:16:08,675 Waldroup: "I want to buy the biggest, 326 00:16:08,842 --> 00:16:10,301 most expensive painting you've ever done." 327 00:16:10,469 --> 00:16:12,387 He gives me his business card. 328 00:16:12,554 --> 00:16:15,306 I stiII have an oId souvenir. 329 00:16:15,474 --> 00:16:17,558 ♪ Electricity was definiteIy there ♪ 330 00:16:17,726 --> 00:16:19,727 ♪ l got shocked when I touched your hair... ♪ 331 00:16:19,895 --> 00:16:23,648 "New York ConfidentiaI, rocket fueI for winners." 332 00:16:23,816 --> 00:16:26,150 That's aII it says. 333 00:16:26,318 --> 00:16:29,904 Narrator: ln 2004, New York ConfidentiaI was at its height, 334 00:16:30,072 --> 00:16:33,282 making miIIions by offering cIients "the girIfriend experience," 335 00:16:33,450 --> 00:16:35,368 a few hours with naughty pIaymates 336 00:16:35,536 --> 00:16:37,286 who looked like coIIege cheerIeaders. 337 00:16:37,454 --> 00:16:40,206 I had $1500 in $100 biIIs in my purse. 338 00:16:40,374 --> 00:16:41,791 - Oh God. - I puIIed it out. 339 00:16:41,959 --> 00:16:45,044 - OnIy 15? - ( Iaughing ) 340 00:16:45,212 --> 00:16:48,172 We started hanging out even after I did the painting. 341 00:16:48,340 --> 00:16:50,591 And one day we're in the back of a Town Car, 342 00:16:50,759 --> 00:16:52,844 and he says, "Hey, grab the phone," you know. 343 00:16:53,012 --> 00:16:55,430 "Just talk to the guy, and try to heIp him out. 344 00:16:55,597 --> 00:16:57,807 You know, he's probabIy Iooking for a girI 345 00:16:57,975 --> 00:16:59,350 to spend the night with." 346 00:16:59,518 --> 00:17:01,894 I'm on the ceII phone and... 347 00:17:02,062 --> 00:17:03,855 you know, my adrenaIine is going. 348 00:17:04,023 --> 00:17:06,774 And I'm Iike, okay, you know, 349 00:17:06,942 --> 00:17:10,069 "We have a brunette, a bIonde or do you Iike ethnic girIs?" 350 00:17:10,237 --> 00:17:13,281 You know, I do a deaI for, I don't know, 3,000, 4,000. 351 00:17:13,449 --> 00:17:15,658 He says, "Great, you just made 400 bucks 352 00:17:15,826 --> 00:17:17,702 from a five-minute phone caII. 353 00:17:17,870 --> 00:17:19,328 I'II give you 10%¤. 354 00:17:19,496 --> 00:17:22,373 Why don't you just come to work for me for a IittIe while, you know?" 355 00:17:22,541 --> 00:17:25,251 Man: That CraigsIist ad pulled well, huh? 356 00:17:25,419 --> 00:17:28,713 WaIdroup: That's where it aII began, where I started working for Jason. 357 00:17:28,881 --> 00:17:30,882 How do you know she's a no? 358 00:17:31,050 --> 00:17:32,675 We don't get that many calls for Asians. 359 00:17:32,843 --> 00:17:34,677 One hot Asian is-- is pIenty. 360 00:17:34,845 --> 00:17:36,554 We need more bIondes, hot blondes. 361 00:17:36,722 --> 00:17:37,722 They might Iook good in person, 362 00:17:37,890 --> 00:17:39,682 but they got a shitty photographer, you know? 363 00:17:39,850 --> 00:17:41,934 Hot blondes. She's a definite yes. 364 00:17:46,607 --> 00:17:49,192 WaIdroup: When a businessman spends, 365 00:17:49,359 --> 00:17:52,820 say, $2,000 an hour, 366 00:17:52,988 --> 00:17:55,615 he wants to read the reviews, 367 00:17:55,783 --> 00:17:57,909 just Iike if you were to buy a car. 368 00:17:58,077 --> 00:18:00,912 You want to read the reviews. How much miIeage does it get? 369 00:18:01,080 --> 00:18:03,831 Does it have air conditioning, four-wheel drive? 370 00:18:05,459 --> 00:18:07,752 What-- what's the difference between 371 00:18:07,920 --> 00:18:11,464 paying $1 ,000 an hour for this young lady, 372 00:18:11,632 --> 00:18:13,091 when I can open up the "Village Voice" 373 00:18:13,258 --> 00:18:16,094 or go on CraigsIist and l can pay $200 374 00:18:16,261 --> 00:18:18,012 for another young Iady? 375 00:18:18,180 --> 00:18:19,180 You know. 376 00:18:19,348 --> 00:18:21,641 And I'd say, "WeII, sir, sure, you can-- 377 00:18:21,809 --> 00:18:25,061 you can have a cheeseburger or you can have Iobster." 378 00:18:28,148 --> 00:18:29,482 You're gonna have such a good time 379 00:18:29,650 --> 00:18:31,734 with one of New York Confidential's girls 380 00:18:31,902 --> 00:18:33,778 that you're gonna go to work Monday morning 381 00:18:33,946 --> 00:18:35,071 with a smiIe on your face. 382 00:18:35,239 --> 00:18:38,908 You're gonna make more money for you and your family, 383 00:18:39,076 --> 00:18:40,993 and then you're gonna caII me up next week 384 00:18:41,161 --> 00:18:43,663 and you're gonna say, 'Herb, who can you send me out today?"' 385 00:18:48,418 --> 00:18:49,919 Natalia: You can make the assumption 386 00:18:50,087 --> 00:18:52,088 that they're not being sexuaIIy satisfied in their marriage 387 00:18:52,256 --> 00:18:54,340 or there's baggage or whatever's going on there. 388 00:18:54,508 --> 00:18:57,552 And then... you know, what's their option? 389 00:18:57,719 --> 00:18:59,804 Do they get divorced? Do they spIit up their famiIy? 390 00:18:59,972 --> 00:19:03,266 Or do they seek, you know-- do they go see an escort? 391 00:19:03,433 --> 00:19:05,852 WaIdroup: One young Iady was a schoolteacher; 392 00:19:06,019 --> 00:19:08,271 another girI was a-- 393 00:19:08,438 --> 00:19:11,232 she was an athlete trying to make it to the OIympics. 394 00:19:11,400 --> 00:19:13,734 Actresses, singers, modeIs. 395 00:19:13,902 --> 00:19:15,987 NataIia: Jason wouId give his business card 396 00:19:16,155 --> 00:19:17,280 to every girI that he met. 397 00:19:17,447 --> 00:19:19,073 And half of them wouId caII and then 398 00:19:19,241 --> 00:19:20,825 a quarter of them wouId start working. 399 00:19:20,993 --> 00:19:25,955 Some girls would offer me cash-- tips. 400 00:19:26,123 --> 00:19:29,083 Some girIs offered me sex. 401 00:19:29,251 --> 00:19:32,920 I don't think I ever got a tip or sex with AshIey, yeah. 402 00:19:33,088 --> 00:19:35,214 Narrator: AshIey was AshIey Youmans, 403 00:19:35,382 --> 00:19:38,176 later Ashley Dupré, who wouId become famous 404 00:19:38,343 --> 00:19:40,469 for having sex with EIiot Spitzer. 405 00:19:40,637 --> 00:19:44,015 As an escort, she got her start at New York ConfidentiaI, 406 00:19:44,183 --> 00:19:46,851 where her working name was Victoria. 407 00:19:47,019 --> 00:19:48,769 lt was through one of those straight pitches 408 00:19:48,937 --> 00:19:50,521 that Jason found AshIey. 409 00:19:50,689 --> 00:19:54,775 WaIdroup: Jason recruited her from the Gansevoort HoteI. 410 00:19:54,943 --> 00:19:57,278 Narrator: At the Gansevoort, AshIey was a bottIe girI 411 00:19:57,446 --> 00:19:59,614 trying to break into the music business. 412 00:19:59,781 --> 00:20:01,449 She was just Iight. She was just happiness. 413 00:20:01,617 --> 00:20:04,493 She was Iike a great bubbIy 19-year-oId girI. 414 00:20:04,661 --> 00:20:07,038 ♪ Oh it's something to see ♪ 415 00:20:07,206 --> 00:20:09,040 ♪ That's so pretty... ♪ 416 00:20:09,208 --> 00:20:12,126 Waldroup: She was a good American, 417 00:20:12,294 --> 00:20:14,879 New Jersey ItaIian girI. 418 00:20:15,047 --> 00:20:16,881 NataIia: Guys Ioved her. 419 00:20:17,049 --> 00:20:19,383 She had great pheromones or something, you know? 420 00:20:19,551 --> 00:20:21,802 Waldroup: Within three or four weeks, you know, 421 00:20:21,970 --> 00:20:24,055 her rate was going up there to 2,000 an hour-- 422 00:20:24,223 --> 00:20:26,057 with a two-hour minimum. 423 00:20:26,225 --> 00:20:28,559 Natalia: Her reviews were awesome as weII. 424 00:20:28,727 --> 00:20:30,353 l think she got a-- she got something Iike 425 00:20:30,520 --> 00:20:33,064 12 consecutive 10/10 reviews. 426 00:20:33,232 --> 00:20:35,149 After we did our first appointment together, 427 00:20:35,317 --> 00:20:38,402 I toId Jason, I'm Iike, "You gotta book this girI." 428 00:20:38,570 --> 00:20:39,904 First of aII, she's great, 429 00:20:40,072 --> 00:20:42,365 but she also has a perfect coochie. 430 00:20:42,532 --> 00:20:45,076 Narrator: AshIey's reign ended when New York Confidential 431 00:20:45,244 --> 00:20:46,953 was raided by IocaI poIice. 432 00:20:47,120 --> 00:20:48,704 No customers were arrested, 433 00:20:48,872 --> 00:20:51,332 but HuIbert was convicted of promoting prostitution 434 00:20:51,500 --> 00:20:53,501 and sent to jaiI for eight months. 435 00:20:53,669 --> 00:20:58,047 AshIey wouId move on to work for another escort service. 436 00:21:00,133 --> 00:21:03,511 For every New Yorker who's been ignored, Ieft out, 437 00:21:03,679 --> 00:21:05,429 who's been toId "You can't fight City HaII" 438 00:21:05,597 --> 00:21:08,140 so many times they've come to beIieve it, 439 00:21:08,308 --> 00:21:11,978 for every New Yorker without a voice, Iisten: 440 00:21:12,145 --> 00:21:14,689 there's one strong enough for aII of us. 441 00:21:14,856 --> 00:21:17,024 ( appIause ) 442 00:21:22,864 --> 00:21:24,782 Spitzer: For most of our history 443 00:21:24,950 --> 00:21:27,076 we have turned a bIind eye 444 00:21:27,244 --> 00:21:29,453 to the vioIations of duty 445 00:21:29,621 --> 00:21:32,123 on the part of white-coIIar criminaIs. 446 00:21:32,291 --> 00:21:33,374 We can understand it. 447 00:21:33,542 --> 00:21:36,877 There is something visceraIIy terrifying about street crime. 448 00:21:37,045 --> 00:21:39,922 And untiI you are safe in your home, 449 00:21:40,090 --> 00:21:42,758 you worry a bit Iess about what is often 450 00:21:42,926 --> 00:21:45,094 a bit more amorphous, which is the nature 451 00:21:45,262 --> 00:21:47,972 of white-coIIar crime, which is more subtIe theft. 452 00:21:48,140 --> 00:21:49,807 EIkind: Spitzer broke the moId 453 00:21:49,975 --> 00:21:51,892 of how you prosecute a white-collar case. 454 00:21:52,060 --> 00:21:53,728 He went after it fast and hard, 455 00:21:53,895 --> 00:21:56,188 and he got things done in a period of weeks or months 456 00:21:56,356 --> 00:21:58,316 that wouId take the federaI reguIators years. 457 00:21:58,483 --> 00:21:59,692 He wanted to change the system. 458 00:21:59,860 --> 00:22:02,028 So he'd get the goods on a company or on peopIe 459 00:22:02,195 --> 00:22:04,155 and use it as Ieverage to institute reform, 460 00:22:04,323 --> 00:22:06,699 to force the industry to change the way it did business. 461 00:22:06,867 --> 00:22:08,326 A Iot of peopIe thought that was outrageous. 462 00:22:08,493 --> 00:22:11,787 Narrator: Spitzer hired a team of dedicated lawyers 463 00:22:11,955 --> 00:22:13,748 who were drawn to his mission. 464 00:22:13,915 --> 00:22:18,961 EIiot just wasn't afraid to stand up to corporate bad guys. 465 00:22:19,129 --> 00:22:21,672 And, you know, I think there was some appreciation 466 00:22:21,840 --> 00:22:24,425 for the fact that, you know, he'd punch 'em in the nose 467 00:22:24,593 --> 00:22:26,135 if that's what was appropriate. 468 00:22:26,303 --> 00:22:28,804 The first day l came in, EIiot said, "What's next?" 469 00:22:28,972 --> 00:22:32,516 And l said, "Well, mutuaI funds, I think." 470 00:22:34,519 --> 00:22:37,021 Boy: How much wiII I grow? 471 00:22:37,189 --> 00:22:40,441 How strong wiII I be in five years? 472 00:22:40,609 --> 00:22:43,027 In 10 years? 473 00:22:43,195 --> 00:22:45,071 Where does my future start? 474 00:22:45,238 --> 00:22:46,405 Shh. 475 00:22:50,452 --> 00:22:52,828 Narrator: Mutual funds were supposed to be a safe pIace 476 00:22:52,996 --> 00:22:55,206 for working people to put their money. 477 00:22:55,374 --> 00:22:58,125 But there were rumors that sophisticated investors 478 00:22:58,293 --> 00:23:00,836 were pIaying games with those funds. 479 00:23:01,004 --> 00:23:03,381 Brown: l went off and I started studying them, 480 00:23:03,548 --> 00:23:06,258 trying to figure out how to get at this issue. 481 00:23:06,426 --> 00:23:09,053 WhiIe I was immersed in this, we got a tip. 482 00:23:09,221 --> 00:23:11,305 ( phone ringing ) 483 00:23:11,473 --> 00:23:14,308 Noreen Harrington: I Ieft very pathetic voicemaiI messages. 484 00:23:14,476 --> 00:23:16,352 ( phone beeps ) 485 00:23:16,520 --> 00:23:18,562 You know, reporting a crime is hard. 486 00:23:18,730 --> 00:23:20,398 You have to earn your credibility. 487 00:23:20,565 --> 00:23:23,567 You have-- it feeIs Iike you're being interrogated. 488 00:23:23,735 --> 00:23:27,279 Narrator: Noreen Harrington had a strong financiaI background. 489 00:23:27,447 --> 00:23:29,615 After 1 1 years at GoIdman Sachs, 490 00:23:29,783 --> 00:23:32,785 she ran the gIobaI fixed income department at Barclays. 491 00:23:32,953 --> 00:23:34,912 Then she went to work for Eddie Stern, 492 00:23:35,080 --> 00:23:38,958 the son of a weII-known pet-food billionaire. 493 00:23:39,126 --> 00:23:41,460 Eddie Stern's hedge fund, Canary Capital, 494 00:23:41,628 --> 00:23:43,754 was producing spectacuIar resuIts 495 00:23:43,922 --> 00:23:46,257 at a time when the stock market was tanking. 496 00:23:46,425 --> 00:23:48,259 The big profits, said Harrington, 497 00:23:48,427 --> 00:23:51,095 came from manipuIating mutuaI funds. 498 00:23:51,263 --> 00:23:53,472 They were doing something really egregious, 499 00:23:53,640 --> 00:23:55,224 which is Iate trading. 500 00:23:55,392 --> 00:23:58,018 ( beII ringing ) 501 00:23:58,186 --> 00:23:59,562 Narrator: At the track, 502 00:23:59,729 --> 00:24:02,773 customers bet on horse races before the race starts. 503 00:24:02,941 --> 00:24:05,401 But what if there were a special club 504 00:24:05,569 --> 00:24:08,863 that aIIowed you to bet on races after they were over? 505 00:24:09,030 --> 00:24:11,031 There was a cIub Iike that on Wall Street 506 00:24:11,199 --> 00:24:13,742 for trading mutuaI funds. 507 00:24:13,910 --> 00:24:16,036 Brown: Mutual funds are onIy priced once a day, 508 00:24:16,204 --> 00:24:19,373 - right at 4:00. - ( beII ringing ) 509 00:24:19,541 --> 00:24:22,251 So during the day, you caII in and you buy a mutual fund, 510 00:24:22,419 --> 00:24:25,671 they'II say, "Fine, "we're gonna fiII your order at today's 4:00 price." 511 00:24:25,839 --> 00:24:29,258 If you caII in at 4:05, they're supposed to say, 512 00:24:29,426 --> 00:24:33,053 "Fine, we'll fill your order at tomorrow's 4:00 price." 513 00:24:33,221 --> 00:24:36,098 Narrator: But what if something happened at, say, 4:05 514 00:24:36,266 --> 00:24:38,142 to make the fund more vaIuabIe? 515 00:24:38,310 --> 00:24:40,895 Brown: If you couId go in as an investor 516 00:24:41,062 --> 00:24:43,063 and call at 4:1 0, having heard that news, 517 00:24:43,231 --> 00:24:46,025 go back and buy it at the 4:00 price, you could just buy it, 518 00:24:46,193 --> 00:24:47,735 wait for it to go up the next day and seII it 519 00:24:47,903 --> 00:24:49,862 and take some money out of it. 520 00:24:50,030 --> 00:24:52,615 In one case, they went to a bank 521 00:24:52,782 --> 00:24:57,578 and the bank put a computer back-office terminaI 522 00:24:57,746 --> 00:25:00,331 into Canary CapitaI, Eddie Stern's fund. 523 00:25:00,499 --> 00:25:03,667 Eddie might enter 40 trades 524 00:25:03,835 --> 00:25:06,670 prior to 4:00. 525 00:25:06,838 --> 00:25:08,923 Now Iet's say it's 10:00 at night; 526 00:25:09,090 --> 00:25:11,217 they canceI the 30 that lost money 527 00:25:11,384 --> 00:25:13,677 and keep the 1 0 that made money. 528 00:25:13,845 --> 00:25:17,515 And so this was a bank, 529 00:25:17,682 --> 00:25:22,019 compIeteIy, you know, working with one cIient 530 00:25:22,187 --> 00:25:25,397 to destroy the profits 531 00:25:25,565 --> 00:25:28,567 owed to aII the peopIe in those funds. 532 00:25:30,612 --> 00:25:33,739 Narrator: The name of the bank was Bank of America. 533 00:25:35,033 --> 00:25:39,036 We spent a Iot of time saying this-- this can't be happening. 534 00:25:39,204 --> 00:25:42,248 I mean, no one wouId be so, you know, so sIeazy. 535 00:25:45,961 --> 00:25:47,795 Harrington: I remember it was Iike 9:00 at night. 536 00:25:47,963 --> 00:25:48,963 And somebody said, 537 00:25:49,130 --> 00:25:50,923 "Wow, we just picked these peopIe off for 10 miIIion." 538 00:25:51,091 --> 00:25:53,592 I'm thinking, "How do you trade mutuaI funds at 9:00?" 539 00:25:53,760 --> 00:25:55,427 I mean, you know, you're a 20-year veteran, 540 00:25:55,595 --> 00:25:57,721 but aII of a sudden you feeI Iike a rookie. 541 00:25:57,889 --> 00:26:00,933 Narrator: When Stern was confronted with the evidence against him, 542 00:26:01,101 --> 00:26:04,270 he cut a deaI to cooperate with Spitzer's investigation, 543 00:26:04,437 --> 00:26:07,648 which Iaid open the predatory nature of WaII Street. 544 00:26:10,151 --> 00:26:12,444 Brown: You have some expectation as an investor 545 00:26:12,612 --> 00:26:14,822 in the stock market, that there are big big boys 546 00:26:14,990 --> 00:26:17,908 out there who probabIy have better information than you, 547 00:26:18,076 --> 00:26:21,287 and it's preciseIy to get out of that that you wouId go to mutuaI funds. 548 00:26:21,454 --> 00:26:24,331 And the idea that there were some sharks 549 00:26:24,499 --> 00:26:27,835 in the tank with you, with aII these thousands of minnows, 550 00:26:28,003 --> 00:26:31,255 was reaIIy sort of-- just reaIIy surprising. 551 00:26:31,423 --> 00:26:34,758 I sent out the first subpoena at the end of June of '03. 552 00:26:34,926 --> 00:26:38,262 And on September 4th, we announced a settIement. 553 00:26:38,430 --> 00:26:40,264 And what I'd Iike you to do now... 554 00:26:40,432 --> 00:26:43,183 Harrington: Three months after I finished speaking to them, 555 00:26:43,351 --> 00:26:46,854 for EIiot Spitzer and his staff to have indictments, 556 00:26:47,022 --> 00:26:49,648 settlements, was astounding to me. 557 00:26:49,816 --> 00:26:51,650 Today's announcement is mereIy step one. 558 00:26:51,818 --> 00:26:54,862 One of the questions I get asked a Iot was, 559 00:26:55,030 --> 00:26:58,490 "Did you beIieve you wouId never work again?" 560 00:26:58,658 --> 00:27:01,243 And I think about that question a Iot, 561 00:27:01,411 --> 00:27:05,289 because what you're saying by asking that question is: 562 00:27:05,457 --> 00:27:09,877 by doing pubIic service and heIping 95 miIIion peopIe 563 00:27:10,045 --> 00:27:14,548 and stopping a crime, this industry wouIdn't want you? 564 00:27:14,716 --> 00:27:17,509 ( siren bIaring ) 565 00:27:20,305 --> 00:27:22,681 Narrator: WhiIe Spitzer stirred popuIar rage at WaII Street, 566 00:27:22,849 --> 00:27:24,516 there were a few peopIe who were deIighted 567 00:27:24,684 --> 00:27:26,685 to see the bankers take home big paydays, 568 00:27:26,853 --> 00:27:30,230 as reveaIed in the actuaI ceII phone of one of the bookers 569 00:27:30,398 --> 00:27:33,442 of the escort service caIIed The Emperors CIub. 570 00:27:36,029 --> 00:27:38,238 Woman: "I keep hearing about all the raises on Wall Street. 571 00:27:38,406 --> 00:27:40,199 And usuaIIy that wouId be good for us. 572 00:27:40,367 --> 00:27:44,870 Hmm, maybe things wiII pick up. Take care, hon!" 573 00:27:45,038 --> 00:27:47,331 The Iawyer-banker thing is true. 574 00:27:47,499 --> 00:27:49,458 There are quite a Iot of them. 575 00:27:49,626 --> 00:27:51,627 But there are lots of stereotypes, you know, 576 00:27:51,795 --> 00:27:55,214 that it's this crazy drug-fueIed sort of party scene. 577 00:27:55,382 --> 00:27:58,342 But generaIIy, you know, people are respectful. 578 00:27:58,510 --> 00:28:01,512 They just want to have a nice time with someone. 579 00:28:01,680 --> 00:28:03,722 Many of my cIients are nicer to me 580 00:28:03,890 --> 00:28:07,434 than many many of the dates I've been on. 581 00:28:07,602 --> 00:28:09,978 In fact, 582 00:28:10,146 --> 00:28:13,023 I've stopped dating in the reaI worId, you know? 583 00:28:13,191 --> 00:28:15,025 Partly because it wouId be compIicated 584 00:28:15,193 --> 00:28:17,945 and partly because my standards Iifted. 585 00:28:18,113 --> 00:28:20,948 HonestIy, you know. ( laughs ) 586 00:28:22,117 --> 00:28:24,201 NataIia: The pictures of AshIey didn't surface right away. 587 00:28:24,369 --> 00:28:27,079 The EIiot Spitzer story broke, and then aII these media outIets 588 00:28:27,247 --> 00:28:28,831 were caIIing me to do interviews. 589 00:28:28,998 --> 00:28:31,834 And so l did a few interviews without even knowing that AshIey was-- 590 00:28:32,001 --> 00:28:34,086 my AshIey was our Victoria was Kristen 591 00:28:34,254 --> 00:28:36,964 was all these-- you know, who she was. 592 00:28:37,132 --> 00:28:41,009 Tonight EIiot Spitzer resigns as Governor of New York. 593 00:28:41,177 --> 00:28:44,388 Where wiII he find comfort in this difficult time? 594 00:28:44,556 --> 00:28:46,473 l was shocked when it aII happened. 595 00:28:46,641 --> 00:28:50,227 But then when I saw AshIey's picture 596 00:28:50,395 --> 00:28:52,271 fIashed on the news, 597 00:28:52,439 --> 00:28:54,356 I was Iike, wait a second, you know? 598 00:28:54,524 --> 00:28:56,316 I was Iike, "Oh my gosh!" 599 00:28:56,484 --> 00:28:57,568 I couIdn't beIieve it. 600 00:28:57,736 --> 00:28:59,528 She fit the biII. 601 00:28:59,696 --> 00:29:02,364 ♪ My fist to the sky... ♪ 602 00:29:02,532 --> 00:29:04,074 Man: "The New York Times" website identifies 603 00:29:04,242 --> 00:29:08,162 Governor Spitzer's mystery caII girI as Ashley Alexandra Dupré. 604 00:29:08,329 --> 00:29:09,830 Narrator: AII over papers and teIevision 605 00:29:09,998 --> 00:29:12,249 she was caIIed "Spitzer's GirI." 606 00:29:12,417 --> 00:29:14,501 Known as "Kristen" at The Emperors CIub, 607 00:29:14,669 --> 00:29:16,670 AshIey Dupré was determined to take advantage 608 00:29:16,838 --> 00:29:18,630 of her sudden opportunity. 609 00:29:20,675 --> 00:29:24,595 NataIia: CIearIy AshIey was trying to make a name for herself. 610 00:29:24,763 --> 00:29:27,598 Narrator: After the scandaI broke, Ashley's MySpace page, 611 00:29:27,766 --> 00:29:29,933 with one of her songs avaiIabIe for streaming, 612 00:29:30,101 --> 00:29:32,186 got over seven miIIion hits. 613 00:29:32,353 --> 00:29:34,396 To heIp package her career, she brought onboard 614 00:29:34,564 --> 00:29:39,067 two Iawyers, a pubIicist, and a management team. 615 00:29:39,235 --> 00:29:41,612 - ♪ So you better hurry up... ♪ - Narrator: AshIey's manager arranged 616 00:29:41,780 --> 00:29:44,072 for an interview with Diane Sawyer. 617 00:29:44,240 --> 00:29:46,241 Everyone pIayed their part. 618 00:29:46,409 --> 00:29:48,660 AshIey dressed up as the good girI gone wrong, 619 00:29:48,828 --> 00:29:52,873 and Diane Sawyer pIayed the roIe of the scoIding mom. 620 00:29:53,041 --> 00:29:55,876 You say "the work," 621 00:29:56,044 --> 00:29:57,669 but you haven't said the words. 622 00:29:57,837 --> 00:30:00,839 - The work? - Prostitution. 623 00:30:01,007 --> 00:30:03,008 Escort. 624 00:30:03,176 --> 00:30:05,010 Escort. What's the difference? 625 00:30:05,178 --> 00:30:07,971 - Escort. - What's the difference? 626 00:30:09,474 --> 00:30:12,226 She catered to the stereotypes of hookers, 627 00:30:12,393 --> 00:30:15,145 which are, you know, "Poor me. I had a troubIed chiIdhood. 628 00:30:15,313 --> 00:30:17,815 I made a mistake," which is such a Ioad of crap. 629 00:30:17,982 --> 00:30:20,776 It's-- I can't change the past. 630 00:30:20,944 --> 00:30:23,487 l can only try to take what I've Iearned and-- 631 00:30:23,655 --> 00:30:26,532 and appIy that to my future. 632 00:30:27,826 --> 00:30:30,786 We are being paid ridicuIous amounts of money. 633 00:30:30,954 --> 00:30:34,081 None of these women are forced to do this and they're not stupid. 634 00:30:34,249 --> 00:30:36,625 Many of the professionaI prostitutes that I know 635 00:30:36,793 --> 00:30:39,753 are very smart women who weren't abused. 636 00:30:39,921 --> 00:30:42,005 You know, don't have a mentaI disorder. 637 00:30:42,173 --> 00:30:45,425 They just happen to beIieve in this kind of work. 638 00:30:45,593 --> 00:30:48,887 Narrator: So do their customers. 639 00:30:49,055 --> 00:30:51,306 The ceII phone of the booker from The Emperors CIub 640 00:30:51,474 --> 00:30:54,560 offered a gIimpse of the cIub's weII-heeIed cIient Iist: 641 00:30:54,727 --> 00:30:57,271 an Oscar winner, CEOs 642 00:30:57,438 --> 00:31:00,232 and high-powered investment bankers. 643 00:31:01,609 --> 00:31:04,695 The club treated them Iike emperors. And why not? 644 00:31:04,863 --> 00:31:06,947 They made more money than kings. 645 00:31:07,115 --> 00:31:10,117 They enjoyed having their way with women and the world. 646 00:31:10,285 --> 00:31:12,744 So it came as no surprise that they resented it 647 00:31:12,912 --> 00:31:16,206 when the New York Attorney GeneraI started to cramp their style. 648 00:31:16,374 --> 00:31:18,584 Reporter: "The Economist" magazine caIIs him 649 00:31:18,751 --> 00:31:21,295 "WaII Street's scourger-in-chief." 650 00:31:21,462 --> 00:31:23,171 Reporter #2: He's gone from compIete anonymity 651 00:31:23,339 --> 00:31:27,843 to what "Fortune" magazine calls "the most feared man on WaII Street." 652 00:31:28,011 --> 00:31:31,388 Spitzer has deputized himseIf as the Sheriff of Wall Street 653 00:31:31,556 --> 00:31:33,974 and is Ieading the posse for retribution, 654 00:31:34,142 --> 00:31:36,059 restitution and reform. 655 00:31:36,227 --> 00:31:39,521 Narrator: Spitzer appealed to Democrats and RepubIicans. 656 00:31:39,689 --> 00:31:43,358 He was a Iaw-and-order IiberaI who wasn't afraid to punch back. 657 00:31:43,526 --> 00:31:44,776 When you go down to WaII Street, 658 00:31:44,944 --> 00:31:46,612 like when you walk into a buiIding on WaII Street, 659 00:31:46,779 --> 00:31:48,363 is it like turning the Iight on in the kitchen 660 00:31:48,531 --> 00:31:50,324 and the roaches just scatter everywhere you go? 661 00:31:50,491 --> 00:31:52,159 - WeII, y'know-- - Are you a beam of Iight-- 662 00:31:52,327 --> 00:31:55,370 It is-- there was a day that I had to waIk into a hedge fund... 663 00:31:55,538 --> 00:31:57,122 Ken Langone: What I was intrigued by-- 664 00:31:57,290 --> 00:31:59,249 the number of people that were terrified by him. 665 00:31:59,417 --> 00:32:01,668 I mean, they IiteraIIy were terrified 666 00:32:01,836 --> 00:32:03,795 at this guy coming after them. 667 00:32:09,969 --> 00:32:13,013 Spitzer: The issue of CEO comp was something I had been trying 668 00:32:13,181 --> 00:32:14,765 to get peopIe to take a Iook at. 669 00:32:14,933 --> 00:32:17,225 It was off the raiIs. 670 00:32:17,393 --> 00:32:19,645 ♪ I'II take what I want ♪ 671 00:32:21,272 --> 00:32:23,899 ♪ I'm a bad go-getter, yeah ♪ 672 00:32:24,067 --> 00:32:26,693 ♪ Ha! Yes I am ♪ 673 00:32:28,404 --> 00:32:31,657 ♪ I'm never a Ioser ♪ 674 00:32:31,824 --> 00:32:34,868 ♪ And I'm never a quitter, yeah... ♪ 675 00:32:35,036 --> 00:32:37,496 Spitzer: The ratio of CEO comp to the average worker's comp 676 00:32:37,664 --> 00:32:40,749 had gone from about 40 to 1 to about 550 to 1 . 677 00:32:40,917 --> 00:32:43,794 CEOs began to just take everything they could 678 00:32:43,962 --> 00:32:47,172 and uItimateIy that was going to destroy our economy. 679 00:32:47,340 --> 00:32:49,758 Because instead of running the companies to create 680 00:32:49,926 --> 00:32:51,885 Iong-term weaIth and Iong-term investment, 681 00:32:52,053 --> 00:32:53,470 aII the games we've seen-- 682 00:32:53,638 --> 00:32:55,555 everything from backdating of stock options 683 00:32:55,723 --> 00:32:58,058 to maximizing short-term profits 684 00:32:58,226 --> 00:33:00,811 without sufficient investment for the Iong term-- 685 00:33:00,979 --> 00:33:04,606 these are things that are cancers inside the economy. 686 00:33:04,774 --> 00:33:08,276 ♪ 'Cause l'll take what I want, yeah, baby. ♪ 687 00:33:08,444 --> 00:33:10,112 Narrator: One of the fIashiest executives was head 688 00:33:10,279 --> 00:33:13,156 of the New York Stock Exchange: Dick Grasso, 689 00:33:13,324 --> 00:33:16,076 who boasted owning 10 cars and three homes. 690 00:33:16,244 --> 00:33:19,830 He traveIed on private jets, often fIanked by armed bodyguards. 691 00:33:19,998 --> 00:33:23,792 His job was to reguIate and market the New York Stock Exchange. 692 00:33:23,960 --> 00:33:25,252 Nicknamed "Punky," 693 00:33:25,420 --> 00:33:27,754 Grasso was a scrappy coIIege dropout 694 00:33:27,922 --> 00:33:30,257 who started on the fIoor and worked his way up. 695 00:33:30,425 --> 00:33:32,676 There's a job opening at the New York Stock Exchange. 696 00:33:32,844 --> 00:33:34,928 Chairman Dick Grasso resigned yesterday 697 00:33:35,096 --> 00:33:37,639 over the fury raised by his massive pay package. 698 00:33:37,807 --> 00:33:40,934 Narrator: Not onIy was Grasso paid an average annual salary 699 00:33:41,102 --> 00:33:42,853 of $20 miIIion, 700 00:33:43,021 --> 00:33:47,899 his retirement package totaIed nearIy $140 miIIion. 701 00:33:48,067 --> 00:33:51,737 After Grasso stepped down, the new head of the Exchange 702 00:33:51,904 --> 00:33:54,114 brought the matter to the attorney generaI. 703 00:33:54,282 --> 00:33:57,576 Spitzer: There's a statute in New York that says the value 704 00:33:57,744 --> 00:34:01,204 of the paycheck that the head of a not-for-profit receives 705 00:34:01,372 --> 00:34:05,000 must be commensurate with the vaIue of the services provided. 706 00:34:05,168 --> 00:34:07,294 l like Dick. He's a decent guy. 707 00:34:07,462 --> 00:34:10,797 He didn't provide services worth $1 39 million. 708 00:34:10,965 --> 00:34:13,258 Perhaps more perverseIy, 709 00:34:13,426 --> 00:34:16,053 the compensation had been determined 710 00:34:16,220 --> 00:34:19,431 by the very people he was supposed to be reguIating. 711 00:34:19,599 --> 00:34:24,269 I had the most respected group of directors 712 00:34:24,437 --> 00:34:26,271 from the corporate and financiaI worId. 713 00:34:26,439 --> 00:34:28,356 They exercised their business judgment. 714 00:34:28,524 --> 00:34:32,027 They paid me what they beIieved to be fair and reasonabIe, 715 00:34:32,195 --> 00:34:33,570 which I-- I agree with. 716 00:34:33,738 --> 00:34:36,156 Narrator: Spitzer decided not to go after 717 00:34:36,324 --> 00:34:38,283 the bIue-chip internationaI board. 718 00:34:38,451 --> 00:34:40,660 Instead, he sued Grasso and the head 719 00:34:40,828 --> 00:34:42,496 of the board's compensation committee, 720 00:34:42,663 --> 00:34:43,914 Ken Langone. 721 00:34:44,082 --> 00:34:48,210 Langone wouId prove to be a formidabIe foe. 722 00:34:48,377 --> 00:34:49,544 l've been rich and I've been poor. 723 00:34:49,712 --> 00:34:52,422 Rich is better, I can teII ya right now. 724 00:34:54,217 --> 00:34:56,635 Narrator: The son of a Long IsIand pIumber, 725 00:34:56,803 --> 00:34:59,054 Ken Langone had cofounded Home Depot 726 00:34:59,222 --> 00:35:02,015 and amassed a fortune of weII over a biIIion doIIars. 727 00:35:02,183 --> 00:35:05,268 A dedicated phiIanthropist, Langone was not shy 728 00:35:05,436 --> 00:35:07,729 about paying peopIe weII. 729 00:35:07,897 --> 00:35:11,691 Langone: At the time we awarded Dick these pay packages, 730 00:35:11,859 --> 00:35:15,195 l truly believed that Dick earned every singIe penny, 731 00:35:15,363 --> 00:35:16,947 and more! 732 00:35:17,115 --> 00:35:20,617 Narrator: Spitzer demanded that Grasso return $100 miIIion. 733 00:35:20,785 --> 00:35:23,411 At the time, Langone toId "Fortune" magazine: 734 00:35:23,579 --> 00:35:26,081 "If Grasso gives back a fucking nickel, 735 00:35:26,249 --> 00:35:28,041 I'II never taIk to him again." 736 00:35:28,209 --> 00:35:30,127 Spitzer: He, as anybody in that position wouId, 737 00:35:30,294 --> 00:35:32,170 took umbrage at it. And he deveIoped 738 00:35:32,338 --> 00:35:35,048 a rather strong animus towards me. 739 00:35:38,719 --> 00:35:41,054 The day that I sat in this room 740 00:35:41,222 --> 00:35:43,974 and he went on teIevision 741 00:35:44,142 --> 00:35:47,352 with that farce press conference he had, 742 00:35:47,520 --> 00:35:51,231 announcing that he was going after Dick Grasso and me 743 00:35:51,399 --> 00:35:54,401 and aII kinds of bad things about me and... 744 00:35:54,569 --> 00:35:58,738 EIiot's theatrics. 745 00:35:58,906 --> 00:36:00,991 You can't pay the head of a not-for-profit 746 00:36:01,159 --> 00:36:04,995 that much money-- cIose to $200 miIIion. 747 00:36:05,163 --> 00:36:07,581 It's simpIy too much. It's not reasonabIe. 748 00:36:07,748 --> 00:36:09,583 It's not right. It vioIates the Iaw. 749 00:36:09,750 --> 00:36:12,794 Langone: It was headIines, it was glorious headlines! 750 00:36:12,962 --> 00:36:14,963 AII these captains of industry! 751 00:36:15,131 --> 00:36:16,756 Hey, this is big game. 752 00:36:16,924 --> 00:36:18,800 This is going after eIephants. 753 00:36:18,968 --> 00:36:22,220 Spitzer: He became a very vociferous critic of mine. 754 00:36:22,388 --> 00:36:23,889 And that's aII fair game. 755 00:36:24,056 --> 00:36:26,725 In my view we were right and he was wrong. 756 00:36:26,893 --> 00:36:29,436 But again it was something he feIt deepIy about. 757 00:36:31,355 --> 00:36:34,774 Narrator: In 2004 at the Democratic NationaI Convention 758 00:36:34,942 --> 00:36:36,985 Spitzer took up the issue with Jack Welch, 759 00:36:37,153 --> 00:36:39,946 the former CEO of GeneraI EIectric. 760 00:36:40,114 --> 00:36:42,157 Langone: Jack and I are very good friends. 761 00:36:42,325 --> 00:36:45,285 Spitzer came up to him with froth 762 00:36:45,453 --> 00:36:48,371 coming out of the sides of his mouth, spitting, 763 00:36:48,539 --> 00:36:51,583 I mean, so exercised, and pointing at Jack: 764 00:36:51,751 --> 00:36:54,044 "You teII your buddy 765 00:36:54,212 --> 00:36:57,339 I'm gonna put a spike through his heart!" 766 00:36:57,506 --> 00:36:59,633 This is not something the Attorney GeneraI 767 00:36:59,800 --> 00:37:01,051 of New York State says. 768 00:37:01,219 --> 00:37:03,178 So when Jack toId me, I said, "Jack, do me a favor." 769 00:37:03,346 --> 00:37:06,223 I said, "If you see him, tell him one thing: 770 00:37:06,390 --> 00:37:08,975 make sure it's steeI, because wood'II break." 771 00:37:10,478 --> 00:37:13,396 Narrator: The case dragged on for years. 772 00:37:13,564 --> 00:37:15,649 In 2008, the New York State Court of Appeals 773 00:37:15,816 --> 00:37:18,068 dismissed the case for a bizarre reason: 774 00:37:18,236 --> 00:37:20,820 since the suit had been brought, the New York Stock Exchange 775 00:37:20,988 --> 00:37:23,657 had abandoned its not-for-profit status. 776 00:37:23,824 --> 00:37:26,243 Dick Grasso kept aII his money. 777 00:37:26,410 --> 00:37:28,662 But EIiot Spitzer had engaged an enemy 778 00:37:28,829 --> 00:37:31,122 with virtuaIIy unIimited resources, 779 00:37:31,290 --> 00:37:34,000 one who was watching and waiting for any misstep. 780 00:37:35,544 --> 00:37:37,754 I'd Iike to think 781 00:37:37,922 --> 00:37:40,173 I'm not a vindictive person. 782 00:37:42,510 --> 00:37:45,512 And a basic tenet of my faith is forgiveness. 783 00:37:47,223 --> 00:37:50,225 The most harm that EIiot Spitzer has done to me 784 00:37:50,393 --> 00:37:53,228 is I am defying my faith. 785 00:37:53,396 --> 00:37:55,021 I can't forgive him 786 00:37:55,189 --> 00:37:57,232 and I shouId, but I can't. 787 00:38:10,162 --> 00:38:13,415 Narrator: In Ken Langone, Spitzer had created a mighty enemy. 788 00:38:13,582 --> 00:38:16,710 And then he added another one when he took on Hank Greenberg, 789 00:38:16,877 --> 00:38:20,297 the head of the worId's Iargest insurance company, AlG. 790 00:38:25,469 --> 00:38:28,221 At the age of 79, Maurice "Hank" Greenberg 791 00:38:28,389 --> 00:38:31,141 was the most powerful businessman on the pIanet. 792 00:38:31,309 --> 00:38:33,518 Under his command AlG had grown 793 00:38:33,686 --> 00:38:36,438 to be worth $157 biIIion 794 00:38:36,605 --> 00:38:39,024 with 92,000 empIoyees. 795 00:38:39,191 --> 00:38:41,901 Admired for his spectacuIar resuIts, 796 00:38:42,069 --> 00:38:45,113 Greenberg ruIed his empire with an iron fist. 797 00:38:45,281 --> 00:38:48,283 I think he was Louis XIV to everybody eIse's, 798 00:38:48,451 --> 00:38:50,410 you know, being a mere baron. 799 00:38:50,578 --> 00:38:54,122 I think Hank Greenberg epitomized 800 00:38:54,290 --> 00:38:57,709 the power of corporate CEOs, and in my view, 801 00:38:57,877 --> 00:39:00,879 he was the most powerfuI person in corporate America. 802 00:39:01,047 --> 00:39:03,131 Narrator: Greenberg's measure of his own worth 803 00:39:03,299 --> 00:39:06,051 was the stock price at AIG. 804 00:39:06,218 --> 00:39:09,637 The normal cycle of business is that sometimes your profits go up 805 00:39:09,805 --> 00:39:11,473 and sometimes your profits go down. 806 00:39:11,640 --> 00:39:14,017 But WaII Street didn't Iike companies to perform that way. 807 00:39:14,185 --> 00:39:16,478 They wanted to see steadiIy rising profits. 808 00:39:16,645 --> 00:39:18,646 If you deIivered steadiIy rising profits, 809 00:39:18,814 --> 00:39:20,648 they'd give you a higher stock price. 810 00:39:20,816 --> 00:39:23,401 So Hank Greenberg came up with a new type of insurance 811 00:39:23,569 --> 00:39:26,821 that wouId create the iIIusion of steadily rising earnings. 812 00:39:26,989 --> 00:39:30,367 Narrator: Greenberg's AlG was fined over $100 miIIion 813 00:39:30,534 --> 00:39:32,160 by federaI authorities 814 00:39:32,328 --> 00:39:35,121 for heIping other companies cook their books. 815 00:39:35,289 --> 00:39:37,791 In 2005 it appeared that AIG might be 816 00:39:37,958 --> 00:39:41,211 using similar tricks to pump up its own stock. 817 00:39:41,379 --> 00:39:44,589 Spitzer: The more we dug into AIG, 818 00:39:44,757 --> 00:39:46,466 the more probIematic 819 00:39:46,634 --> 00:39:50,220 the company itseIf appeared to me to be. 820 00:39:50,388 --> 00:39:54,015 And the disconcerting aspect of it 821 00:39:54,183 --> 00:39:58,061 was that it did appear to come from the very top. 822 00:40:00,731 --> 00:40:02,649 lnterviewer: When did you first hear about 823 00:40:02,817 --> 00:40:05,860 Spitzer's investigation of AIG? 824 00:40:06,028 --> 00:40:08,029 When I got a subpoena. 825 00:40:08,197 --> 00:40:10,448 Narrator: One deaI generated by Greenberg 826 00:40:10,616 --> 00:40:13,368 caught the eye of Spitzer and federaI investigators. 827 00:40:13,536 --> 00:40:16,996 It was a suspicious contract between AlG and Gen Re, 828 00:40:17,164 --> 00:40:20,792 a company owned by biIIionaire Warren Buffett. 829 00:40:20,960 --> 00:40:23,253 One of the most startIing moments in this case 830 00:40:23,421 --> 00:40:25,797 was when tapes emerged 831 00:40:25,965 --> 00:40:29,050 that were dispositive, overwheIming proof 832 00:40:29,218 --> 00:40:31,010 of exactly what these transactions had been. 833 00:40:32,555 --> 00:40:34,722 As this was unfoIding, Dick Beattie called me 834 00:40:34,890 --> 00:40:38,268 one Saturday morning at home and said let's talk about this. 835 00:40:38,436 --> 00:40:42,856 The board wanted me to find out what I couId 836 00:40:43,023 --> 00:40:45,984 about the Gen Re investigation. 837 00:40:46,152 --> 00:40:48,736 EIiot was jogging on a Saturday morning or something. 838 00:40:48,904 --> 00:40:50,363 I met him in the park. 839 00:40:50,531 --> 00:40:54,284 The onIy thing of significance he told me, as l recall, 840 00:40:54,452 --> 00:40:58,079 was that they had Hank-- 841 00:40:58,247 --> 00:41:01,207 Hank's name on tapes. 842 00:41:20,644 --> 00:41:23,688 Narrator: To boost his stock price, Hank Greenberg wanted 843 00:41:23,856 --> 00:41:28,943 to make it look like AlG had $500 miIIion more than it did. 844 00:41:29,111 --> 00:41:31,112 The original phone call was to see if we couId get 845 00:41:31,280 --> 00:41:33,698 a Iost portfoIio from Ron Ferguson. 846 00:41:33,866 --> 00:41:35,492 What happened afterwards, l don't know. 847 00:41:35,659 --> 00:41:39,078 I-- I didn't-- I wasn't invoIved in the detaiIs of the transaction. 848 00:42:12,863 --> 00:42:15,532 Narrator: A handwritten deaI memo laid out the terms: 849 00:42:15,699 --> 00:42:19,953 Gen Re would pretend to pay AIG $500 miIIion 850 00:42:20,120 --> 00:42:22,080 in two instaIIments 851 00:42:22,248 --> 00:42:24,541 for a phony insurance poIicy. 852 00:42:24,708 --> 00:42:26,626 There was no risk of paying a cIaim. 853 00:42:29,255 --> 00:42:32,382 For doing the phony deaI, AlG would pay Gen Re 854 00:42:32,550 --> 00:42:34,884 a $5-miIIion fee. 855 00:42:35,052 --> 00:42:39,013 HouIdsworth: No risk. No risk for 5 miIIion bucks. 856 00:42:39,181 --> 00:42:41,599 Narrator: Hank Greenberg's initials, MRG, 857 00:42:41,767 --> 00:42:43,393 were aII over the document. 858 00:42:43,561 --> 00:42:45,186 Monrad: The two peopIe at AIG who are invoIved 859 00:42:45,354 --> 00:42:47,939 are Hank Greenberg and Chris MiIton. 860 00:42:48,107 --> 00:42:50,024 AIG was a big company. 861 00:42:50,192 --> 00:42:52,068 I didn't-- I didn't stay focused 862 00:42:52,236 --> 00:42:54,737 on-on-- on the Gen Re transaction. 863 00:43:08,252 --> 00:43:10,503 Man: Yes. ( Iaughs ) 864 00:43:10,671 --> 00:43:12,422 Graham: That sorta gives you somethin'-- 865 00:43:12,590 --> 00:43:14,966 Man: Yeah, that teIIs you somethin', doesn't it? Yeah. 866 00:43:15,134 --> 00:43:17,302 Narrator: What was an unfair advantage to Greenberg 867 00:43:17,469 --> 00:43:20,263 was seen as cooking the books to AlG's accountants, 868 00:43:20,431 --> 00:43:22,432 PricewaterhouseCoopers. 869 00:43:22,600 --> 00:43:25,518 The firm refused to accept AlG's financial statements 870 00:43:25,686 --> 00:43:28,271 as Iong as Greenberg was the CEO. 871 00:43:28,439 --> 00:43:32,984 Hank wasn't pushed out by... by EIiot. 872 00:43:33,152 --> 00:43:36,362 What happened was the investigation that foIIowed 873 00:43:36,530 --> 00:43:38,906 and the accountants, at the end of the day, 874 00:43:39,074 --> 00:43:41,784 said, "We're not taking that certification anymore." 875 00:43:41,952 --> 00:43:43,786 So you're sitting here as a board of directors, 876 00:43:43,954 --> 00:43:45,872 saying, "My God, what does that mean?" 877 00:43:46,040 --> 00:43:48,374 That's what drove the board 878 00:43:48,542 --> 00:43:51,252 deciding that Hank had to go. And one other issue. 879 00:43:51,420 --> 00:43:52,879 Narrator: Spitzer demanded 880 00:43:53,047 --> 00:43:55,173 that Hank Greenberg testify under oath. 881 00:43:55,341 --> 00:43:57,508 However Greenberg's lawyers advised him 882 00:43:57,676 --> 00:44:00,470 to plead the Fifth, despite AIG's poIicy 883 00:44:00,638 --> 00:44:04,057 to fire empIoyees who didn't cooperate with reguIators. 884 00:44:05,267 --> 00:44:08,102 That troubIed a Iot of peopIe on the board. 885 00:44:08,270 --> 00:44:11,147 They wanted him to say, you know, "AbsoIuteIy not. 886 00:44:11,315 --> 00:44:13,775 I'm not gonna take the Fifth. I'm gonna testify." 887 00:44:13,942 --> 00:44:18,071 I think Frank Zarb and I called Hank 888 00:44:18,238 --> 00:44:21,115 and toId him that the board had made the decision 889 00:44:21,283 --> 00:44:23,785 that he had to step down. 890 00:44:23,952 --> 00:44:25,620 These are very serious offenses, 891 00:44:25,788 --> 00:44:28,081 over a biIIion doIIars of accounting frauds 892 00:44:28,248 --> 00:44:30,541 that AlG has aIready acknowIedged. 893 00:44:30,709 --> 00:44:33,503 That company was a bIack box run with an iron fist 894 00:44:33,671 --> 00:44:36,756 by a CEO who did not teII the pubIic the truth. 895 00:44:36,924 --> 00:44:37,924 That is the probIem. 896 00:44:38,092 --> 00:44:39,759 So does that mean you're moving toward an indictment? 897 00:44:39,927 --> 00:44:41,636 No, l didn't say that. It depends what we wiII prove, 898 00:44:41,804 --> 00:44:43,971 or can prove that Mr. Greenberg knew at the time. 899 00:44:44,139 --> 00:44:45,973 We have powerfuI evidence. We wiII proceed with it. 900 00:44:46,141 --> 00:44:49,102 lt's too bad that the attorney generaI 901 00:44:49,269 --> 00:44:52,605 doesn't come out from behind his office, 902 00:44:52,773 --> 00:44:55,441 where he's protected against libel. 903 00:44:55,609 --> 00:44:58,528 I wish he'd come out and say these things as a citizen. 904 00:44:58,696 --> 00:45:01,114 Spitzer attacked Greenberg, 905 00:45:01,281 --> 00:45:05,159 and l saw him on teIevision one night 906 00:45:05,327 --> 00:45:08,871 saying that Hank Greenberg was a crook. 907 00:45:09,039 --> 00:45:11,499 Narrator: John Whitehead had been a war hero, 908 00:45:11,667 --> 00:45:13,459 a Deputy Secretary of State 909 00:45:13,627 --> 00:45:16,295 and the chairman of GoIdman Sachs. 910 00:45:16,463 --> 00:45:19,132 And his office continued to leak information 911 00:45:19,299 --> 00:45:20,883 about why he was a crook 912 00:45:21,051 --> 00:45:24,512 without ever any charges being brought against Hank. 913 00:45:24,680 --> 00:45:27,682 So l said this is something I have to do something about. 914 00:45:27,850 --> 00:45:31,436 So that's what caused me to write that first articIe. 915 00:45:31,603 --> 00:45:35,398 "Something has gone seriously awry 916 00:45:35,566 --> 00:45:39,110 when a state attorney generaI can go on teIevision 917 00:45:39,278 --> 00:45:42,780 and charge one of America's best CEOs 918 00:45:42,948 --> 00:45:45,908 and most generous philanthropists 919 00:45:46,076 --> 00:45:49,579 with fraud before any charges have been brought, 920 00:45:49,747 --> 00:45:52,707 before the possibIe defendant has even had a chance 921 00:45:52,875 --> 00:45:56,210 to know what he personaIIy is alleged to have done 922 00:45:56,378 --> 00:45:59,797 and whiIe the investigation is still underway." 923 00:45:59,965 --> 00:46:03,217 That was the thing that set me off. 924 00:46:03,385 --> 00:46:05,136 l had heard of an incident invoIving 925 00:46:05,304 --> 00:46:07,472 former GoIdman Sachs chairman John Whitehead. 926 00:46:07,639 --> 00:46:09,515 Mr. Whitehead had come out pubIicIy 927 00:46:09,683 --> 00:46:11,058 supporting Mr. Greenberg. 928 00:46:11,226 --> 00:46:13,352 After that op-ed was pubIished, 929 00:46:13,520 --> 00:46:16,939 he received a threatening phone caII from EIiot Spitzer. 930 00:46:17,107 --> 00:46:21,235 He asked me a coupIe of questions about my articIe. 931 00:46:21,403 --> 00:46:22,820 And then he came right to the point. 932 00:46:22,988 --> 00:46:24,864 He said, "Mr. Whitehead," he said, 933 00:46:25,032 --> 00:46:27,200 "You and I are now at war." 934 00:46:27,367 --> 00:46:29,619 You know, Iook, he had-- he had written an op. 935 00:46:29,787 --> 00:46:31,829 I don't know if I said those words or not. 936 00:46:31,997 --> 00:46:34,916 If that's the worst I said, you know, okay, that's-- 937 00:46:35,083 --> 00:46:36,751 peopIe are at war with me all the time. 938 00:46:36,919 --> 00:46:38,753 Interviewer: "You have fired the first bullet." 939 00:46:38,921 --> 00:46:41,547 "You have fired the first buIIet. 940 00:46:41,715 --> 00:46:44,133 But beIieve me, by the end of this war, 941 00:46:44,301 --> 00:46:47,762 l will fire the last one and you wiII be dead." 942 00:46:47,930 --> 00:46:49,597 WeII, I don't think I said that. l mean, John White-- 943 00:46:49,765 --> 00:46:51,974 l wouldn't say-- l-- l-- Iook, I hope I didn't say that. 944 00:46:52,142 --> 00:46:53,976 He was screaming into the phone. 945 00:46:54,144 --> 00:46:56,521 He and I had a heated conversation. 946 00:46:56,688 --> 00:46:58,481 I wiII Ieave it at that. It was a private conversation. 947 00:46:58,649 --> 00:47:00,399 As l've said, I've never denied 948 00:47:00,567 --> 00:47:02,068 that l have heated conversations in private. 949 00:47:02,236 --> 00:47:06,906 lt's... it was me, it is me, so be it. 950 00:47:07,074 --> 00:47:09,617 And I think sometimes it's how you get things done. 951 00:47:09,785 --> 00:47:13,621 He said, "I wiII destroy you." 952 00:47:13,789 --> 00:47:16,332 And those are-- those are strong words. 953 00:47:16,500 --> 00:47:20,044 I had never heard words Iike that before from anybody. 954 00:47:20,212 --> 00:47:21,712 I couIdn't quite beIieve it. 955 00:47:23,173 --> 00:47:26,425 Narrator: Spitzer's outbursts became Iegendary to his staff. 956 00:47:26,593 --> 00:47:28,386 When he exploded, his staff wouId remark 957 00:47:28,554 --> 00:47:30,930 that Spitzer's eviI twin "Irwin" 958 00:47:31,098 --> 00:47:33,724 had dropped in for an unexpected visit. 959 00:47:33,892 --> 00:47:37,436 In fact, a very prominent Iawyer 960 00:47:37,604 --> 00:47:41,399 of a very fine company had a meeting with him. 961 00:47:41,567 --> 00:47:43,860 And this man said to me, 962 00:47:44,027 --> 00:47:48,114 "When l came out of his office, I swore I saw the words E-V-I-L 963 00:47:48,282 --> 00:47:50,157 across his forehead." 964 00:47:50,325 --> 00:47:53,369 I have no doubt if Hank Greenberg were stiII running AIG, 965 00:47:53,537 --> 00:47:55,788 AlG would not be in the fix it's in today. 966 00:47:55,956 --> 00:47:58,833 Today the federaI government announced it has once again 967 00:47:59,001 --> 00:48:02,628 reworked the bailout of insurance giant AIG. 968 00:48:02,796 --> 00:48:04,797 Reporter: Now the baiIout needs a baiIout. 969 00:48:04,965 --> 00:48:06,841 Two months after AIG was given 970 00:48:07,009 --> 00:48:09,176 that first emergency government Ioan, 971 00:48:09,344 --> 00:48:10,928 it's getting another IifeIine. 972 00:48:11,096 --> 00:48:14,140 Narrator: In 2008 AIG was at the center 973 00:48:14,308 --> 00:48:16,517 of a gIobaI economic meItdown. 974 00:48:16,685 --> 00:48:18,644 Before and after Greenberg's faII, 975 00:48:18,812 --> 00:48:21,689 AlG had been selling biIIions of doIIars of insurance 976 00:48:21,857 --> 00:48:23,566 to the worId's biggest banks 977 00:48:23,734 --> 00:48:26,736 to hide their risky gambIes on home mortgages. 978 00:48:28,113 --> 00:48:31,532 When housing prices coIIapsed, AlG couldn't pay the claims, 979 00:48:31,700 --> 00:48:34,952 and US taxpayers paid $183 biIIion 980 00:48:35,120 --> 00:48:38,748 in an effort to save the gIobaI economy from coIIapse. 981 00:48:40,292 --> 00:48:43,502 According to Greenberg, the bIame for AIG's faII 982 00:48:43,670 --> 00:48:47,048 and the global meltdown rested with one reguIator-- 983 00:48:47,215 --> 00:48:49,467 EIiot Spitzer. 984 00:48:49,635 --> 00:48:51,677 Spitzer wanted me out. 985 00:48:52,804 --> 00:48:55,348 When poIiticians invoIve themseIves 986 00:48:55,515 --> 00:48:58,726 in who is going to run a company and who is not, 987 00:48:58,894 --> 00:49:01,687 we're on dangerous ground in this country. 988 00:49:01,855 --> 00:49:04,690 Spitzer: It is the big Iie writ Iarge. 989 00:49:04,858 --> 00:49:07,735 The books were being cooked at his company. 990 00:49:07,903 --> 00:49:11,614 Hank Greenberg was removed as CEO by his own board 991 00:49:11,782 --> 00:49:14,492 when they saw the underIying facts 992 00:49:14,660 --> 00:49:17,787 of what was then one of the Iargest financiaI frauds in history. 993 00:49:17,955 --> 00:49:19,497 I didn't do anything improper. 994 00:49:19,665 --> 00:49:23,000 Neither did any of the senior team do anything improper. 995 00:49:24,378 --> 00:49:26,712 Interviewer: You say to peopIe, if Hank Greenberg had 996 00:49:26,880 --> 00:49:28,798 stiII been there, this wouId never have happened? 997 00:49:28,966 --> 00:49:30,967 It wouId not have happened. 998 00:49:31,134 --> 00:49:33,386 Spitzer: The very trading practices that Ied to these 999 00:49:33,553 --> 00:49:35,638 gargantuan obIigations 1000 00:49:35,806 --> 00:49:37,807 that taxpayers are now baiIing out 1001 00:49:37,975 --> 00:49:40,059 aII began whiIe he was there: 1002 00:49:40,227 --> 00:49:41,811 Very significant accounting frauds, 1003 00:49:41,979 --> 00:49:45,231 reinsurance contracts which he participated in structuring 1004 00:49:45,399 --> 00:49:48,192 that were deemed by a federaI jury 1005 00:49:48,360 --> 00:49:50,444 in Connecticut to be iIIegaI. 1006 00:49:50,612 --> 00:49:51,862 Four peopIe went to jaiI. 1007 00:49:52,030 --> 00:49:53,781 He was caIIed an unindicted co-conspirator 1008 00:49:53,949 --> 00:49:55,533 by the prosecutor in that case. 1009 00:49:55,701 --> 00:49:57,618 So his maintaining uninvolvement 1010 00:49:57,786 --> 00:50:00,830 in the structuraI issues is simply wrong. 1011 00:50:00,998 --> 00:50:03,624 Narrator: Spitzer wanted to prosecute Greenberg 1012 00:50:03,792 --> 00:50:06,585 for financial manipulation, but was caIIed off the case 1013 00:50:06,753 --> 00:50:09,338 by the US Attorney Michael Garcia. 1014 00:50:09,506 --> 00:50:13,884 Spitzer: MichaeI Garcia sent me an over-the-top letter 1015 00:50:14,052 --> 00:50:17,096 when we were going to incIude 1016 00:50:17,264 --> 00:50:19,223 significant aIIegations 1017 00:50:19,391 --> 00:50:22,518 reIating to Hank Greenberg in our AlG complaint, 1018 00:50:22,686 --> 00:50:24,687 teIIing us to back off. 1019 00:50:24,855 --> 00:50:28,607 And it was a moment of-- 1020 00:50:28,775 --> 00:50:31,193 I don't want to say there was anything improper 1021 00:50:31,361 --> 00:50:32,987 about the Ietter that Garcia sent, 1022 00:50:33,155 --> 00:50:35,322 but he basically said, "Don't you dare go near this. 1023 00:50:35,490 --> 00:50:38,701 We're doing this," reIating to Hank Greenberg. 1024 00:50:44,041 --> 00:50:47,752 Narrator: MichaeI Garcia never pursued charges against Greenberg. 1025 00:50:47,919 --> 00:50:50,713 Instead he wouId Iead the prosecution 1026 00:50:50,881 --> 00:50:53,007 that Ied to Spitzer's downfaII. 1027 00:50:54,301 --> 00:50:55,968 Both Greenberg and Langone 1028 00:50:56,136 --> 00:50:58,763 hired PR firms to go after Spitzer. 1029 00:50:58,930 --> 00:51:01,348 And Langone hired a private investigator 1030 00:51:01,516 --> 00:51:03,893 to find out what he couId. 1031 00:51:05,062 --> 00:51:07,521 Interviewer: I want to move on to the-- to The Emperors CIub. 1032 00:51:07,689 --> 00:51:11,609 When did that start, approximateIy? 1033 00:51:11,777 --> 00:51:14,445 - Sometime in '06. - EarIy '06? 1034 00:51:14,613 --> 00:51:17,156 Thereabouts, yeah. 1035 00:51:17,324 --> 00:51:21,202 You were fIying about as high as you couId possibIy be fIying. 1036 00:51:21,369 --> 00:51:23,162 - Mm-hmm. - And this is prior to-- 1037 00:51:23,330 --> 00:51:25,915 at that point in time, you were pretty certain 1038 00:51:26,083 --> 00:51:27,374 you were gonna be Governor of New York, 1039 00:51:27,542 --> 00:51:29,543 - wouIdn't you say? - Right. WeII, reaIIy, Iook. 1040 00:51:29,711 --> 00:51:31,670 If your point is things were 1041 00:51:31,838 --> 00:51:34,256 as good as they couId get, 1042 00:51:34,424 --> 00:51:37,426 from a poIiticaI perspective, I suppose that's right. 1043 00:51:37,594 --> 00:51:41,680 And the onIy metaphor 1044 00:51:41,848 --> 00:51:44,683 I can think of perhaps is Icarus. 1045 00:51:46,436 --> 00:51:48,187 Those whom the gods would destroy, 1046 00:51:48,355 --> 00:51:50,022 they make aII-powerfuI. 1047 00:51:59,032 --> 00:52:02,618 A friend of mine recentIy gave me a T-shirt 1048 00:52:02,786 --> 00:52:06,539 that he cIaimed he had had printed 1049 00:52:06,706 --> 00:52:08,916 for investment banker friends of his. 1050 00:52:09,084 --> 00:52:10,209 But he thought I wouId enjoy it, 1051 00:52:10,377 --> 00:52:12,378 and maybe I couId maybe even Iearn from it. 1052 00:52:12,546 --> 00:52:16,674 The T-shirt said on its front, "Hubris is terminaI." 1053 00:52:16,842 --> 00:52:19,510 ♪ If I ruIed the worId ♪ 1054 00:52:19,678 --> 00:52:21,804 ( Iaughing ) 1055 00:52:21,972 --> 00:52:23,973 ♪ I'd Iove aII the girIs ♪ 1056 00:52:24,141 --> 00:52:25,975 ♪ I Iove 'em, Iove 'em, baby. ♪ 1057 00:52:26,143 --> 00:52:27,810 I'm not a kingmaker. 1058 00:52:27,978 --> 00:52:29,311 But I'm gonna caII it-- you're gonna win. 1059 00:52:29,479 --> 00:52:30,688 - WeII, thank you. - I'II teII you why. 1060 00:52:30,856 --> 00:52:32,857 - l'm glad l came tonight. - WeII, absoIuteIy, it's done. 1061 00:52:33,024 --> 00:52:34,233 Narrator: In earIy 2006 1062 00:52:34,401 --> 00:52:36,110 Spitzer's approvaI ratings were over 60%. 1063 00:52:36,278 --> 00:52:38,028 He had announced his run for governor 1064 00:52:38,196 --> 00:52:40,156 and was predicted to win in a landslide. 1065 00:52:40,323 --> 00:52:43,159 You couId do anything. You couId punch a toddIer and stiII win. 1066 00:52:43,326 --> 00:52:47,413 Narrator: His career was every poIitician's dream. 1067 00:52:47,581 --> 00:52:48,581 No, I was the enforcer. 1068 00:52:48,748 --> 00:52:50,624 I mean, I was the kid who pIayed Ieft fuIIback, 1069 00:52:50,792 --> 00:52:52,877 not because I had reaI taIent, but I took peopIe out. 1070 00:52:53,044 --> 00:52:56,839 You pIay hard, you pIay rough and hopefuIIy you don't get caught. 1071 00:52:57,007 --> 00:52:58,632 ( Iaughs ) 1072 00:52:58,800 --> 00:53:00,676 Narrator: Right around this time, CeciI SuwaI, 1073 00:53:00,844 --> 00:53:03,220 the 22-year-old CEO of The Emperors CIub, 1074 00:53:03,388 --> 00:53:05,848 took a phone call from a new customer. 1075 00:53:06,016 --> 00:53:08,267 Though he used the name "George Fox," 1076 00:53:08,435 --> 00:53:10,978 it was actuaIIy EIiot Spitzer. 1077 00:53:11,146 --> 00:53:13,105 The very first time that he caIIed, 1078 00:53:13,273 --> 00:53:15,191 I answered the phone. 1079 00:53:15,358 --> 00:53:18,068 And he called and he was whispering. 1080 00:53:18,236 --> 00:53:20,362 So I thought it was a prank. 1081 00:53:20,530 --> 00:53:22,865 And so the other booker called and said, 1082 00:53:23,033 --> 00:53:25,326 "Okay, I'm ready to start answering the phones." 1083 00:53:25,493 --> 00:53:27,411 So we transferred the phone to her, and I said, 1084 00:53:27,579 --> 00:53:28,621 "Oh, I just spoke with someone. 1085 00:53:28,788 --> 00:53:30,664 You know, I'm gonna let you handle that." 1086 00:53:30,832 --> 00:53:34,752 And apparentIy, he saw, I think, three peopIe in a row, 1087 00:53:34,920 --> 00:53:36,587 just back to back that evening. 1088 00:53:36,755 --> 00:53:38,881 So I guess it wasn't a prank. 1089 00:53:39,049 --> 00:53:41,133 Narrator: Reading "New York" magazine, 1090 00:53:41,301 --> 00:53:44,637 George Fox, AKA EIiot Spitzer, 1091 00:53:44,804 --> 00:53:47,598 cIaims he was drawn to websites in the cIassified ads, 1092 00:53:47,766 --> 00:53:51,185 and while surfing the web, found The Emperors CIub. 1093 00:53:51,353 --> 00:53:53,395 ♪ Secret heart ♪ 1094 00:53:53,563 --> 00:53:56,065 ♪ What are you made of? ♪ 1095 00:53:56,233 --> 00:54:00,486 ♪ What are you so afraid of? ♪ 1096 00:54:00,654 --> 00:54:02,988 ♪ CouId it be ♪ 1097 00:54:03,156 --> 00:54:05,783 ♪ Three simpIe words? ♪ 1098 00:54:05,951 --> 00:54:08,369 SuwaI: When you're sending a girl on a trip to Chicago 1099 00:54:08,536 --> 00:54:10,371 for $30,000 overnight, 1100 00:54:10,538 --> 00:54:14,875 it doesn't necessariIy feeI Iike you're running "prostitution." 1101 00:54:15,043 --> 00:54:16,710 It feeIs different. 1102 00:54:16,878 --> 00:54:19,255 And so that's where I think we got a IittIe bit Iost, 1103 00:54:19,422 --> 00:54:22,383 as far as the whoIe IegaIity of the situation. 1104 00:54:22,550 --> 00:54:26,512 ♪ This buried secret that you'II try... ♪ 1105 00:54:26,680 --> 00:54:29,390 Narrator: CeciI SuwaI dropped out of the University of Miami 1106 00:54:29,557 --> 00:54:32,226 when she fell in love with 60-year-oId Mark Brener, 1107 00:54:32,394 --> 00:54:33,727 who owned The Emperors CIub. 1108 00:54:33,895 --> 00:54:36,814 Soon they were running it together. 1109 00:54:36,982 --> 00:54:38,524 The night that they arrested us, 1110 00:54:38,692 --> 00:54:41,110 we were just sIeeping together in our-- 1111 00:54:41,278 --> 00:54:42,444 you know, hoIding each other. 1112 00:54:42,612 --> 00:54:44,655 We reaIIy just Ioved each other. 1113 00:54:44,823 --> 00:54:46,824 Not onIy were we Iovers, 1114 00:54:46,992 --> 00:54:48,826 but we aIso had the business, 1115 00:54:48,994 --> 00:54:51,203 so everything was aII wrapped up into one. 1116 00:54:51,371 --> 00:54:54,456 And I Iove him, so... I stiII do. 1117 00:54:54,624 --> 00:54:56,709 ♪ Come out and share it. ♪ 1118 00:54:56,876 --> 00:54:58,460 Narrator: "Cece," as she was caIIed, 1119 00:54:58,628 --> 00:55:00,296 decided to take The Emperors CIub 1120 00:55:00,463 --> 00:55:02,047 in a more high-end direction. 1121 00:55:02,215 --> 00:55:04,049 My primary focus at the time 1122 00:55:04,217 --> 00:55:07,469 was to promote the website to the right people, 1123 00:55:07,637 --> 00:55:11,557 to the right kinds of girIs, 1124 00:55:11,725 --> 00:55:14,518 who-- the kind who, you know, are weII-educated 1125 00:55:14,686 --> 00:55:16,353 and come from good famiIies. 1126 00:55:16,521 --> 00:55:19,606 The number of diamonds that the model had 1127 00:55:19,774 --> 00:55:22,651 indicated not onIy her hourIy and daiIy rate, 1128 00:55:22,819 --> 00:55:26,655 but also just the general quaIity of companionship 1129 00:55:26,823 --> 00:55:28,157 you couId expect from her. 1130 00:55:28,325 --> 00:55:29,908 So if she was three diamonds, 1131 00:55:30,076 --> 00:55:31,910 her daiIy rate wouId be 10,000 1132 00:55:32,078 --> 00:55:34,288 and her hourIy rate would be 1 ,000. 1133 00:55:34,456 --> 00:55:36,999 It went 1000, 1200, 1500, 1134 00:55:37,167 --> 00:55:39,418 2100, 3100. 1135 00:55:39,586 --> 00:55:42,463 And then the day rates, you wouId just add a zero. 1136 00:55:42,630 --> 00:55:44,590 ( Iaughs ) I did that. 1137 00:55:44,758 --> 00:55:47,259 With mathematicaI precision, right? 1138 00:55:47,427 --> 00:55:50,262 Tsss! Whatever! 1139 00:55:50,430 --> 00:55:52,765 Just add a zero, that shouId work. 1140 00:55:54,476 --> 00:55:57,186 We had our core girIs that we immenseIy vaIued, 1141 00:55:57,354 --> 00:55:59,229 that reaIIy couId, you know, bring home the bacon 1142 00:55:59,397 --> 00:56:01,607 and then we had the sort of spiraI effect. 1143 00:56:01,775 --> 00:56:04,485 AshIey went for 1 ,000. 1144 00:56:08,031 --> 00:56:09,656 She certainIy wasn't the core. 1145 00:56:09,824 --> 00:56:12,618 She was definiteIy one of the girIs, Iike, on the edges, 1146 00:56:12,786 --> 00:56:14,370 the sort of peripheries. 1147 00:56:16,247 --> 00:56:17,956 We had peopIe working with us in LA, 1148 00:56:18,124 --> 00:56:21,335 Miami, New York, London, Paris. 1149 00:56:21,503 --> 00:56:23,170 They were just aII over the worId. 1150 00:56:23,338 --> 00:56:25,798 ( bagpipes pIaying ) 1151 00:56:25,965 --> 00:56:27,883 Narrator: The cIub's richest cIient in London 1152 00:56:28,051 --> 00:56:29,593 was the Duke of Westminster. 1153 00:56:29,761 --> 00:56:32,096 One of his dates was Zana Brazdek. 1154 00:56:32,263 --> 00:56:35,516 SuwaI: She drank an entire bottIe of champagne 1155 00:56:35,683 --> 00:56:37,935 and he doesn't drink aIcohoI. 1156 00:56:38,103 --> 00:56:40,229 So she got drunk, 1157 00:56:40,397 --> 00:56:43,982 and once she figured out who it was, 1158 00:56:44,150 --> 00:56:48,112 went to the reporters and, you know, 1159 00:56:48,279 --> 00:56:50,197 it was sort of a mishap, if you wiII. 1160 00:56:50,365 --> 00:56:53,367 Narrator: Zana had vioIated the empIoyment standards 1161 00:56:53,535 --> 00:56:55,953 of the cIub and had to be terminated. 1162 00:56:56,121 --> 00:56:57,162 ♪ Very secret... ♪ 1163 00:56:57,330 --> 00:57:00,499 SuwaI: I began seeking out fashion modeIs 1164 00:57:00,667 --> 00:57:04,878 and the absoIute highest financial elite as clients 1165 00:57:05,046 --> 00:57:07,798 and sort of putting them together and then charging a fee. 1166 00:57:07,966 --> 00:57:10,843 lnterviewer: So l get it. So that was the rationaIe then. 1167 00:57:11,010 --> 00:57:13,137 In other words so Iong as you presented it 1168 00:57:13,304 --> 00:57:16,682 as a get-together service, 1169 00:57:16,850 --> 00:57:19,852 then you weren't doing anything iIIegaI. 1170 00:57:21,604 --> 00:57:23,272 Yeah. 1171 00:57:25,650 --> 00:57:29,862 Narrator: The man known as George Fox became a reguIar cIient. 1172 00:57:30,029 --> 00:57:33,740 Interviewer: How often did he meet with AshIey, or "Kristen"? 1173 00:57:33,908 --> 00:57:36,201 WeII, he met her one time 1174 00:57:36,369 --> 00:57:41,540 and that was the big MayfIower experience for him, I guess. 1175 00:57:41,708 --> 00:57:43,792 Interviewer: But it was just that one time? 1176 00:57:43,960 --> 00:57:45,502 One time. 1177 00:57:47,589 --> 00:57:49,590 Sawyer: How often did you see Governor Spitzer? 1178 00:57:49,757 --> 00:57:54,052 LegaIIy, I am-- I'm not abIe to answer that question. 1179 00:57:54,220 --> 00:57:58,599 Sawyer: Court documents say they may have had previous encounters. 1180 00:58:00,435 --> 00:58:02,811 Narrator: The court documents didn't say that. 1181 00:58:04,689 --> 00:58:08,734 AshIey Dupré Iet the worId beIieve that she was the "Luv Gov's" girI. 1182 00:58:08,902 --> 00:58:10,944 But she was onIy a one-night stand, 1183 00:58:11,112 --> 00:58:13,405 caught on a wiretap at the MayfIower HoteI 1184 00:58:13,573 --> 00:58:15,616 in Washington, DC. 1185 00:58:15,783 --> 00:58:19,453 That begged the question: who else was there? 1186 00:58:20,872 --> 00:58:23,165 There was someone who he enjoyed seeing most. 1187 00:58:23,333 --> 00:58:26,210 And she was very pretty and a very inteIIigent girI, 1188 00:58:26,377 --> 00:58:28,337 and not a-- not a fashion modeI. 1189 00:58:28,505 --> 00:58:31,548 She had her own career. 1190 00:58:31,716 --> 00:58:33,634 And he Iiked to meet with her frequently. 1191 00:58:33,801 --> 00:58:37,596 And she was actuaIIy the first person who said, "Oh, this is Eliot Spitzer." 1192 00:58:39,432 --> 00:58:42,100 Narrator: The escort chose the name "Angelina." 1193 00:58:42,268 --> 00:58:45,187 I discovered who she was and she agreed to speak to me 1194 00:58:45,355 --> 00:58:47,689 so long as l did not discIose her reaI name, 1195 00:58:47,857 --> 00:58:50,192 her face or reveaI her voice. 1196 00:58:50,360 --> 00:58:53,111 So I transcribed her interview and hired this actress 1197 00:58:53,279 --> 00:58:55,322 to perform her words. 1198 00:59:04,123 --> 00:59:06,458 "AngeIina": He used the name George Fox 1199 00:59:06,626 --> 00:59:11,129 and he booked an hour at a New York hoteI, Upper East Side. 1200 00:59:11,297 --> 00:59:14,091 Um... 1201 00:59:14,259 --> 00:59:18,512 that first time it was very businessIike. 1202 00:59:18,680 --> 00:59:21,223 Interviewer: You said he wasn't that interested in the companionship. 1203 00:59:21,391 --> 00:59:24,309 ( Iaughing ) 1204 00:59:24,477 --> 00:59:26,478 Right. 1205 00:59:29,732 --> 00:59:32,025 - You're Iaughing. - It's funny. 1206 00:59:32,193 --> 00:59:34,528 'Cause he wasn't at aII interested in the companionship? 1207 00:59:34,696 --> 00:59:36,738 I'm not-- from what I-- from what I heard. 1208 00:59:36,906 --> 00:59:39,491 I remember thinking he was Iike... 1209 00:59:41,995 --> 00:59:45,122 I hate to put this crudeIy, um-- 1210 00:59:45,290 --> 00:59:48,417 a trying-to-get-his- money's-worth type cIient. 1211 00:59:48,585 --> 00:59:50,669 I said to the agency, you know, l don't-- 1212 00:59:50,837 --> 00:59:53,297 I don't want to see that person again. 1213 00:59:53,464 --> 00:59:57,634 Interviewer: In what seems to be a kind of epidemic 1214 00:59:57,802 --> 01:00:01,179 of, you know, poIiticaI figures and sex scandals, 1215 01:00:01,347 --> 01:00:05,017 one question is, why... 1216 01:00:05,184 --> 01:00:07,144 you know, why hookers? 1217 01:00:07,312 --> 01:00:10,731 I mean, why, particuIarIy when that's, you know, illegal? 1218 01:00:13,067 --> 01:00:16,945 Again, I don't want to deIve into-- 1219 01:00:17,113 --> 01:00:19,156 certainIy don't want to speak for others, 1220 01:00:19,324 --> 01:00:21,366 and even in my own case, 1221 01:00:21,534 --> 01:00:24,286 don't reaIIy want to speak to that issue, 1222 01:00:24,454 --> 01:00:26,496 except to say that you cave to temptations 1223 01:00:26,664 --> 01:00:29,374 in a way that perhaps seems easier 1224 01:00:29,542 --> 01:00:33,587 and... and perhaps is, 1225 01:00:33,755 --> 01:00:37,674 in some very twisted way, Iess damaging. 1226 01:00:37,842 --> 01:00:39,676 lnterviewer: Less damaging how? 1227 01:00:39,844 --> 01:00:42,220 Than having affairs or reIationships 1228 01:00:42,388 --> 01:00:44,348 that take on a different tenor. 1229 01:00:44,515 --> 01:00:46,183 That have-- I'm sorry, that have what? 1230 01:00:46,351 --> 01:00:48,310 ReIationships that take on a different tenor. 1231 01:00:48,478 --> 01:00:49,895 You mean that have some sort of emotionaI-- 1232 01:00:50,063 --> 01:00:51,938 Perhaps, yeah. 1233 01:00:52,106 --> 01:00:55,150 Narrator: Eliot Spitzer had taken the first step 1234 01:00:55,318 --> 01:00:57,361 into his doubIe Iife. 1235 01:00:57,528 --> 01:00:59,571 He had just entered a worId which formerIy 1236 01:00:59,739 --> 01:01:02,866 he had seen onIy from the outside, as a prosecutor. 1237 01:01:03,034 --> 01:01:05,744 In ApriI 2004, after wiretapping 1238 01:01:05,912 --> 01:01:07,954 a sociaI cIub in Staten IsIand, 1239 01:01:08,122 --> 01:01:11,416 Spitzer heIped the FBI and NYPD bring down 1240 01:01:11,584 --> 01:01:13,960 a sophisticated prostitution ring. 1241 01:01:14,128 --> 01:01:16,296 He knew how it was done. 1242 01:01:16,464 --> 01:01:18,590 He aIso knew his Iife was about to become 1243 01:01:18,758 --> 01:01:20,926 more public than it had ever been. 1244 01:01:22,595 --> 01:01:25,263 Announcer: If we're ever going to reform AIbany, 1245 01:01:25,431 --> 01:01:28,266 it's gonna start on November 7th, 1246 01:01:28,434 --> 01:01:30,394 EIection Day. 1247 01:01:30,561 --> 01:01:34,981 Because if one man can stand up to the powerful, so can you. 1248 01:01:35,149 --> 01:01:38,026 He'II ask and you'II answer. 1249 01:01:38,194 --> 01:01:40,028 And with one coIIective roar, 1250 01:01:40,196 --> 01:01:43,115 we'II wake the state government right out of its long sleep. 1251 01:01:43,282 --> 01:01:45,659 And on that day, government wiII stop being 1252 01:01:45,827 --> 01:01:47,536 that thing we compIain about 1253 01:01:47,704 --> 01:01:51,540 and start being that thing we can do something about. 1254 01:01:51,708 --> 01:01:54,209 Jimmy SiegeI: When I started doing EIiot's campaign ads, 1255 01:01:54,377 --> 01:01:58,964 everyone was very enthusiastic because we aII feIt Iike 1256 01:01:59,132 --> 01:02:01,925 we were working for a candidate that comes aIong once every, 1257 01:02:02,093 --> 01:02:04,678 I don't know, 20 years, you know, 30 years. 1258 01:02:04,846 --> 01:02:07,139 I came in with a Iine which was 1259 01:02:07,306 --> 01:02:09,516 "Bring some passion back to AIbany." 1260 01:02:09,684 --> 01:02:11,643 New Yorkers don't Iike anger, 1261 01:02:11,811 --> 01:02:13,729 but every New Yorker likes passion. 1262 01:02:15,690 --> 01:02:17,691 ( upbeat music pIaying ) 1263 01:02:21,863 --> 01:02:24,531 Narrator: SiIda WaII Spitzer persuaded her husband 1264 01:02:24,699 --> 01:02:26,032 to hire Jimmy SiegeI. 1265 01:02:26,200 --> 01:02:27,909 She sensed that SiegeI had the abiIity 1266 01:02:28,077 --> 01:02:30,579 to frame Spitzer's severe combative style 1267 01:02:30,747 --> 01:02:33,999 in an emotionaI popuIist campaign. 1268 01:02:34,167 --> 01:02:36,710 SiegeI: I don't think she signed up to be a poIiticaI wife, 1269 01:02:36,878 --> 01:02:37,961 the wife of a poIitician. 1270 01:02:38,129 --> 01:02:41,882 But l think she ended up reaIIy enjoying the campaign. 1271 01:02:42,049 --> 01:02:44,926 She was amazing to work with, 1272 01:02:45,094 --> 01:02:47,137 and one of the nicest peopIe. 1273 01:02:47,305 --> 01:02:49,139 And she reaIIy cared. 1274 01:02:49,307 --> 01:02:52,476 She reaIIy beIieved in him and beIieved in this cause. 1275 01:02:52,643 --> 01:02:56,104 Pre-Barack Obama, you couId make the case 1276 01:02:56,272 --> 01:02:58,982 that EIiot was the preeminent Democratic politician 1277 01:02:59,150 --> 01:03:00,776 in America at that point. 1278 01:03:00,943 --> 01:03:03,862 In the poIiticaI worId, it was kind of Iike working for a rock star. 1279 01:03:04,030 --> 01:03:06,656 ( crowd cheering ) 1280 01:03:08,868 --> 01:03:10,535 - ( fanfare ) - Announcer: Ladies and gentIemen, 1281 01:03:10,703 --> 01:03:14,164 I present to you the Governor-EIect of the State of New York, 1282 01:03:14,332 --> 01:03:16,875 the HonorabIe EIiot Spitzer. 1283 01:03:17,043 --> 01:03:18,335 ( audience appIauding ) 1284 01:03:19,879 --> 01:03:22,547 Narrator: Taking a record 69%¤ of the vote, 1285 01:03:22,715 --> 01:03:26,426 Eliot Spitzer had a popular mandate to make big changes. 1286 01:03:26,594 --> 01:03:30,597 Together Iet's buiId that one New York, 1287 01:03:30,765 --> 01:03:33,975 Iet's waIk toward that better day. 1288 01:03:34,143 --> 01:03:38,271 Thank you, and God bIess the great state of New York. 1289 01:03:40,942 --> 01:03:42,776 Constantine: Here he was, he's Governor of New York, 1290 01:03:42,944 --> 01:03:43,944 he's king of the worId, 1291 01:03:44,111 --> 01:03:46,029 he's the future President of the United States. 1292 01:03:46,197 --> 01:03:48,448 EIiot Spitzer is going to fix up this state 1293 01:03:48,616 --> 01:03:51,451 and then he's going to go to Washington and do the same thing 1294 01:03:51,619 --> 01:03:54,788 that he just did for New York for the United States. 1295 01:03:54,956 --> 01:03:57,415 That was in everybody's mind. 1296 01:04:04,841 --> 01:04:06,591 Spitzer: PeopIe had said to me before l won, 1297 01:04:06,759 --> 01:04:08,927 "Do to AIbany what you did to WaII Street." 1298 01:04:09,095 --> 01:04:10,887 And we tried. We went at it 1299 01:04:11,055 --> 01:04:15,517 with a determination that was aIien to the cuIture of AIbany. 1300 01:04:20,606 --> 01:04:24,818 Narrator: The CapitoI buiIding in AIbany was a monument to corruption. 1301 01:04:24,986 --> 01:04:27,195 America's most expensive government building 1302 01:04:27,363 --> 01:04:28,989 was Iike the IegisIature-- 1303 01:04:29,156 --> 01:04:33,451 a bog of waste, doubIe-deaIing and graft. 1304 01:04:35,204 --> 01:04:37,789 The gargoyIes on the waIIs haunted the place. 1305 01:04:37,957 --> 01:04:41,626 The maze of grand stairways navigated by speciaI interests 1306 01:04:41,794 --> 01:04:44,754 robbed Iawmakers of any sense of perspective. 1307 01:04:49,176 --> 01:04:50,176 Spitzer: It's Iike an Escher. 1308 01:04:50,344 --> 01:04:52,929 You don't know if you're going up or down, Ieft or right. 1309 01:04:53,097 --> 01:04:56,182 The mind gets turned upside down inside that building. 1310 01:04:58,728 --> 01:05:01,563 Fred Dicker: I think over the years that some peopIe have appropriateIy 1311 01:05:01,731 --> 01:05:03,899 seen it as a metaphor for the Iabyrinthian nature 1312 01:05:04,066 --> 01:05:05,400 of New York poIitics. 1313 01:05:05,568 --> 01:05:09,070 Radio announcer: It's time for "Live from the State Capitol," 1314 01:05:09,238 --> 01:05:10,572 with Fred Dicker. 1315 01:05:10,740 --> 01:05:12,282 Narrator: Fred Dicker, of the "New York Post," 1316 01:05:12,450 --> 01:05:14,284 was a 25-year veteran in AIbany. 1317 01:05:14,452 --> 01:05:16,328 WeII, this is Fred Dicker Iive at the state capitoI. 1318 01:05:16,495 --> 01:05:17,913 WeIcome. What a beautifuI day... 1319 01:05:18,080 --> 01:05:19,956 Narrator: DeepIy conservative, Dicker was proud 1320 01:05:20,124 --> 01:05:22,834 of calling himself "an equaI-opportunity prick," 1321 01:05:23,002 --> 01:05:25,670 attacking whomever came into office. 1322 01:05:25,838 --> 01:05:28,048 Dicker: Eliot Spitzer, who didn't suffer fooIs IightIy, 1323 01:05:28,215 --> 01:05:30,342 was treating a separate branch of government, 1324 01:05:30,509 --> 01:05:33,011 the IegisIature that couId bIock him at every turn, 1325 01:05:33,179 --> 01:05:34,721 as if he couId just push 'em around 1326 01:05:34,889 --> 01:05:36,556 Iike they were WaII Street executives. 1327 01:05:36,724 --> 01:05:38,433 WeII, they pushed back and they pushed back hard. 1328 01:05:38,601 --> 01:05:40,477 Narrator: The man who pushed back hardest 1329 01:05:40,645 --> 01:05:43,396 was RepubIican Senate Leader Joe Bruno. 1330 01:05:43,564 --> 01:05:45,523 A charming oId-schooI deaImaker, 1331 01:05:45,691 --> 01:05:48,860 he wasn't much interested in Spitzer's reforms. 1332 01:05:49,028 --> 01:05:53,114 Bruno: He thought that he reaIIy was sort of the Second Coming 1333 01:05:53,282 --> 01:05:55,617 and that he was going to get everybody 1334 01:05:55,785 --> 01:05:57,702 to do what he wanted to do. 1335 01:05:57,870 --> 01:06:00,455 I think he started thinking dictatoriaIIy 1336 01:06:00,623 --> 01:06:02,791 aImost, you know, in his own mind. 1337 01:06:02,959 --> 01:06:04,292 It wasn't a cakewaIk. 1338 01:06:04,460 --> 01:06:07,712 It was not going to be as easy as building a legal case, 1339 01:06:07,880 --> 01:06:10,256 presenting it to a fact-finder and then you get a resoIution. 1340 01:06:10,424 --> 01:06:13,969 This is a poIiticaI process, which is much more compIicated. 1341 01:06:14,136 --> 01:06:15,971 It's three-dimensionaI chess. 1342 01:06:16,138 --> 01:06:19,265 ( foIk music pIaying ) 1343 01:06:19,433 --> 01:06:22,227 Narrator: Chess was not Joe Bruno's game. 1344 01:06:22,395 --> 01:06:24,479 A former boxing champ, 1345 01:06:24,647 --> 01:06:26,898 he knew when to duck, when to punch back, 1346 01:06:27,066 --> 01:06:29,859 and sometimes how to fix a fight. 1347 01:06:31,654 --> 01:06:33,154 Yeah. 1348 01:06:33,322 --> 01:06:35,115 Narrator: In the Senate, he had an annual 1349 01:06:35,282 --> 01:06:37,575 discretionary fund of $85 million 1350 01:06:37,743 --> 01:06:40,745 to spread around the state Iike poIiticaI fertiIizer. 1351 01:06:40,913 --> 01:06:42,080 Yeah. 1352 01:06:42,248 --> 01:06:44,082 Narrator: By 2007, the FBI 1353 01:06:44,250 --> 01:06:46,918 was investigating him for corruption. 1354 01:06:47,086 --> 01:06:50,588 Word was that Joe wanted a gracefuI way out. 1355 01:06:51,966 --> 01:06:54,426 Bruno: He toId me, repeatedIy: 1356 01:06:54,593 --> 01:06:57,053 "We're partners. We're gonna get things done." 1357 01:06:57,221 --> 01:06:59,222 But he didn't know how to negotiate, 1358 01:06:59,390 --> 01:07:00,932 he didn't know how to compromise. 1359 01:07:01,100 --> 01:07:03,935 Narrator: Spitzer attacked AIbany head-on. 1360 01:07:04,103 --> 01:07:06,104 Early, he won some big victories, 1361 01:07:06,272 --> 01:07:08,356 but to get his first budget passed, 1362 01:07:08,524 --> 01:07:10,608 he had to pIay the game Joe Bruno's way-- 1363 01:07:10,776 --> 01:07:14,112 trading favors in backroom deaIs. 1364 01:07:14,280 --> 01:07:16,740 When we did the budget, when I sat with him-- 1365 01:07:16,907 --> 01:07:20,326 this went off, this went off, this came on, this came on, 1366 01:07:20,494 --> 01:07:24,080 we shook hands, we come-- it got done face to face. 1367 01:07:24,248 --> 01:07:26,499 FrankIy, he got criticized 1368 01:07:26,667 --> 01:07:28,668 for caving in to some of our needs. 1369 01:07:28,836 --> 01:07:31,171 He got panned for that in the press. 1370 01:07:31,338 --> 01:07:33,798 Narrator: Spitzer responded by insisting on the very thing 1371 01:07:33,966 --> 01:07:35,759 that AIbany poIs despised-- 1372 01:07:35,926 --> 01:07:38,219 open, rationaI debates. 1373 01:07:38,387 --> 01:07:40,388 Thank you to everybody for being here, 1374 01:07:40,556 --> 01:07:42,891 in what is now, I think, our fifth 1375 01:07:43,059 --> 01:07:46,186 in what will be a continuing effort to meet 1376 01:07:46,353 --> 01:07:49,898 to forge consensus on issues, raise issues, frame an agenda... 1377 01:07:50,066 --> 01:07:53,068 Narrator: Spitzer wanted debates to be Iike his father's dinner tabIe. 1378 01:07:53,235 --> 01:07:56,154 But Joe Bruno was the turd in EIiot's punchbowI. 1379 01:07:56,322 --> 01:07:58,907 But, Governor, l mean, again, 1380 01:07:59,075 --> 01:08:01,868 I say this very respectfuIIy, 1381 01:08:02,036 --> 01:08:04,496 that is nuts! 1382 01:08:04,663 --> 01:08:06,831 ( audience Iaughing ) 1383 01:08:06,999 --> 01:08:10,627 What he wanted was for you to just sit there 1384 01:08:10,795 --> 01:08:13,421 Iike pupiIs with a teacher, nod your head 1385 01:08:13,589 --> 01:08:16,591 as he was Iecturing you and pontificating. 1386 01:08:16,759 --> 01:08:18,885 WeII, government doesn't work that way. 1387 01:08:19,053 --> 01:08:20,095 You responded-- 1388 01:08:20,262 --> 01:08:22,555 Joe, I'm now gonna teII you something very simpIe-- 1389 01:08:22,723 --> 01:08:25,475 this is my room; you're not gonna now deraiI us 1390 01:08:25,643 --> 01:08:27,936 from a conversation about energy, which we were just having. 1391 01:08:28,104 --> 01:08:29,854 - This has been a usefuI-- - I thought you'd concIuded. 1392 01:08:30,022 --> 01:08:32,273 And I caIIed him severaI times. 1393 01:08:32,441 --> 01:08:34,609 I said, "What on earth is the matter with you?" 1394 01:08:34,777 --> 01:08:38,530 You understand that you have to have the cooperation 1395 01:08:38,697 --> 01:08:41,032 of the IegisIature, both houses. 1396 01:08:41,200 --> 01:08:44,786 He said, "WeII, we're at war. This is a war." 1397 01:08:44,954 --> 01:08:46,913 And he said it Iike a big overgrown kid. 1398 01:08:47,081 --> 01:08:50,125 There'II be-- there'II be a few tackIed bodies on the fieId, so be it. 1399 01:08:50,292 --> 01:08:53,586 He was eIected to get to AIbany and turn around 1400 01:08:53,754 --> 01:08:55,588 the 30-year decIine of the state, 1401 01:08:55,756 --> 01:08:57,549 to reform state government and do something 1402 01:08:57,716 --> 01:09:00,385 about the economy, which for decades has been Iike, 1403 01:09:00,553 --> 01:09:03,555 you know, on a sIow downward spiraI in New York state. 1404 01:09:03,722 --> 01:09:05,849 He had a temper. He had this passion. 1405 01:09:06,016 --> 01:09:11,187 lt was, when focused and weII-conceived in its execution, 1406 01:09:11,355 --> 01:09:14,566 it's what, you know, the peopIe wanted to have happen. 1407 01:09:14,733 --> 01:09:17,235 ♪ Well, I'm a steamroIIer, babe ♪ 1408 01:09:18,696 --> 01:09:20,905 ♪ I'm bound to roII all over you... ♪ 1409 01:09:23,826 --> 01:09:25,493 Yeah, weII, I was toId 1410 01:09:25,661 --> 01:09:28,163 that Governor Spitzer had just gotten off the phone 1411 01:09:28,330 --> 01:09:30,623 with Jim Tedisco, the AssembIy Minority Leader, 1412 01:09:30,791 --> 01:09:32,959 and had said to him, "You'd better toe the Iine 1413 01:09:33,127 --> 01:09:35,378 of what I'm trying to do here or be subjected 1414 01:09:35,546 --> 01:09:37,380 to the governor's wrath," 1415 01:09:37,548 --> 01:09:40,008 which he had described as being a "fucking steamroIIer." 1416 01:09:40,176 --> 01:09:43,344 So James TayIor was on my mind and he has a famous song. 1417 01:09:43,512 --> 01:09:46,014 It was a throwaway Iine honestIy meant in good humor 1418 01:09:46,182 --> 01:09:47,182 with Jim Tedisco. 1419 01:09:47,349 --> 01:09:48,516 And frankIy, I said, "You know what? 1420 01:09:48,684 --> 01:09:50,935 We're not trying to be the steamroIIer." It was in that context. 1421 01:09:51,103 --> 01:09:53,354 When he said, "I'm an effing steamroIIer," 1422 01:09:53,522 --> 01:09:55,648 I mean he meant it! 1423 01:09:55,816 --> 01:09:58,526 Narrator: He took on his own party when he bitterIy opposed 1424 01:09:58,694 --> 01:10:00,486 their choice for state controIIer. 1425 01:10:00,654 --> 01:10:02,614 So he had both houses of the legislature, 1426 01:10:02,781 --> 01:10:05,116 one from his party, one from the other party 1427 01:10:05,284 --> 01:10:07,243 who are now sitting up and taking notice 1428 01:10:07,411 --> 01:10:09,913 that whoa, this guy-- this is not a guy 1429 01:10:10,080 --> 01:10:11,581 who pIays weII with others. 1430 01:10:15,294 --> 01:10:17,128 Democrats wouId come into this room and say 1431 01:10:17,296 --> 01:10:18,922 they couIdn't stand the governor. 1432 01:10:19,089 --> 01:10:20,924 Democrats were saying they loved Joe Bruno, 1433 01:10:21,091 --> 01:10:23,134 the RepubIican, because he was taking on the governor. 1434 01:10:23,302 --> 01:10:25,803 A steamroIIer is no match for that baby. 1435 01:10:25,971 --> 01:10:27,680 I can teII you that right now. 1436 01:10:29,183 --> 01:10:30,808 ( engine revving ) 1437 01:10:30,976 --> 01:10:33,686 ♪ Now I'm a napaIm bomb, baby ♪ 1438 01:10:35,189 --> 01:10:38,483 ♪ Just guaranteed to bIow your mind... ♪ 1439 01:10:40,861 --> 01:10:42,695 Dopp: Some of those oId-time poIs, you know, 1440 01:10:42,863 --> 01:10:45,156 reaIIy understood human nature. 1441 01:10:45,324 --> 01:10:47,575 And I think EIiot's view of it was 1442 01:10:47,743 --> 01:10:49,577 we wouId force them to do the right thing, 1443 01:10:49,745 --> 01:10:52,455 but it's not the way the system is set up. 1444 01:10:52,623 --> 01:10:55,500 Again, I don't want to just say you're wrong, but you are. 1445 01:10:55,668 --> 01:10:57,210 We... 1446 01:10:57,378 --> 01:11:00,004 Dopp: I'd say to him, "Boss, this system is set up 1447 01:11:00,172 --> 01:11:02,548 so that onIy incrementaI change is possible." 1448 01:11:02,716 --> 01:11:04,467 And he'd be Iike, "God damn it, no it's not." 1449 01:11:04,635 --> 01:11:07,971 And the resuIt that it produced is he began to go around 1450 01:11:08,138 --> 01:11:11,015 Mr. Bruno to specific members of the State Senate. 1451 01:11:11,183 --> 01:11:14,978 Mr. Bruno took that to be an act of, you know, a hostile act. 1452 01:11:16,689 --> 01:11:19,482 He quickIy announced pubIicIy 1453 01:11:19,650 --> 01:11:21,109 he's going to take me out as Ieader. 1454 01:11:21,277 --> 01:11:22,944 I'm history 1455 01:11:23,112 --> 01:11:26,239 and the RepubIican majority was going to cease to exist. 1456 01:11:26,407 --> 01:11:27,907 He was going to take us out. 1457 01:11:30,035 --> 01:11:31,911 I said something Iike, "You know, 1458 01:11:32,079 --> 01:11:34,706 I've been threatened by hoods and thugs my whole life. 1459 01:11:34,873 --> 01:11:36,124 You're just an amateur. 1460 01:11:36,292 --> 01:11:39,544 If you think you're gonna bother me, you just don't." 1461 01:11:46,343 --> 01:11:48,803 Dopp: We knew that folks wouId come down hard on us 1462 01:11:48,971 --> 01:11:51,389 if we ever stumbIed. 1463 01:11:51,557 --> 01:11:54,225 He said, "You're damn right. 1464 01:11:54,393 --> 01:11:56,602 If we ever faII, they'II kick us in the nuts." 1465 01:11:56,770 --> 01:12:00,606 Which is why the downfaII was so shocking. 1466 01:12:03,569 --> 01:12:06,404 Interviewer: Did it begin to haunt you as something that you thought 1467 01:12:06,572 --> 01:12:08,197 was possibIe, that you were gonna get caught? 1468 01:12:08,365 --> 01:12:10,033 Or did you-- that didn't even-- 1469 01:12:10,200 --> 01:12:11,868 at a certain point, that didn't even occur to you? 1470 01:12:12,036 --> 01:12:14,162 No, of course it does. 1471 01:12:14,330 --> 01:12:16,914 Of course it does. 1472 01:12:17,082 --> 01:12:19,334 And you just deaI with it. 1473 01:12:19,501 --> 01:12:22,420 How did you deaI with it? 1474 01:12:22,588 --> 01:12:24,422 That's the one-- 1475 01:12:24,590 --> 01:12:26,841 those are the mysteries of the human mind, I suppose. 1476 01:12:27,009 --> 01:12:29,177 I-- I don't think I can answer that question, 1477 01:12:29,345 --> 01:12:31,929 because I don't think I know. 1478 01:12:47,738 --> 01:12:49,947 "AngeIina": I got a caII months Iater. 1479 01:12:50,115 --> 01:12:53,576 And this-- this was kind of a Iast-minute thing. 1480 01:12:53,744 --> 01:12:56,829 This was at the WaIdorf HoteI. 1481 01:12:58,791 --> 01:13:01,918 He showed up with this basebaII cap on, 1482 01:13:02,086 --> 01:13:04,921 like, clearly trying not to be recognized. 1483 01:13:05,089 --> 01:13:09,050 And l'm like, you know, "Don't teII me it's that guy again." 1484 01:13:13,347 --> 01:13:16,307 In that second meeting, you know, I was rather pushy with him. 1485 01:13:16,475 --> 01:13:20,353 I was Iike, "We're gonna sit and have a chit-chat 1486 01:13:20,521 --> 01:13:23,231 and have a nice IittIe date here." 1487 01:13:23,399 --> 01:13:28,027 And it ended up being a fun coupIe of hours. 1488 01:13:28,195 --> 01:13:30,113 I thought it was EIiot Spitzer, 1489 01:13:30,280 --> 01:13:33,199 you know, but I couIdn't be absolutely sure. 1490 01:13:33,367 --> 01:13:36,035 So I made a point to Iook out for him in the papers. 1491 01:13:36,203 --> 01:13:39,831 And it was at that point that l said to the peopIe who ran the agency, 1492 01:13:39,998 --> 01:13:42,834 "You know who this guy is, don't you?" 1493 01:13:43,001 --> 01:13:44,919 And they said no. 1494 01:13:45,087 --> 01:13:46,504 He was hiding. 1495 01:13:46,672 --> 01:13:48,548 He didn't want anyone to know who he was. 1496 01:13:48,715 --> 01:13:50,299 He was extremeIy paranoid. 1497 01:13:50,467 --> 01:13:54,345 He knew that his entire poIiticaI career was on the Iine. 1498 01:13:54,513 --> 01:13:57,348 And ultimately vice just took over virtue. 1499 01:13:57,516 --> 01:13:59,058 He couId not controI himseIf. 1500 01:13:59,226 --> 01:14:01,060 l don't know, I just remember one time 1501 01:14:01,228 --> 01:14:03,271 he was trying to book an appointment. 1502 01:14:03,439 --> 01:14:05,148 And I just remember thinking to myself, 1503 01:14:05,315 --> 01:14:07,567 I was Iike, "This man is so paranoid. 1504 01:14:07,734 --> 01:14:10,695 He's just going to attract a situation." 1505 01:14:10,863 --> 01:14:13,114 You know, because he was just asking for it. 1506 01:14:13,282 --> 01:14:15,366 It's Iike, "Listen, man, if you are so worried 1507 01:14:15,534 --> 01:14:17,368 about what you're doing, don't do it." 1508 01:14:17,536 --> 01:14:21,080 I mean, just getting a deposit from him was an issue. 1509 01:14:21,248 --> 01:14:23,082 In order to book an appointment out of town, 1510 01:14:23,250 --> 01:14:24,792 you had to pay upfront. 1511 01:14:24,960 --> 01:14:28,546 So he wouId have to go through sending these money orders in. 1512 01:14:28,714 --> 01:14:31,132 We're Iike, "Okay, why don't you just deposit 'X' amount 1513 01:14:31,300 --> 01:14:33,259 in the bank if you want to meet her by tomorrow 1514 01:14:33,427 --> 01:14:35,553 and we're not gonna receive payment by tomorrow." 1515 01:14:35,721 --> 01:14:37,263 And he's Iike, "I can't go to the bank." 1516 01:14:37,431 --> 01:14:40,224 I never acknowIedged who he was, 1517 01:14:40,392 --> 01:14:43,102 but he-- he knew that I knew. 1518 01:14:43,270 --> 01:14:45,229 He started to request me. 1519 01:14:45,397 --> 01:14:47,231 I saw him outside of New York, 1520 01:14:47,399 --> 01:14:50,610 in PaIm Beach, Puerto Rico, 1521 01:14:50,777 --> 01:14:53,905 DaIIas, Washington. 1522 01:14:54,072 --> 01:14:56,908 He was aIways very guarded about what he would say. 1523 01:14:57,075 --> 01:14:59,243 And-- I mean, I wouId insist 1524 01:14:59,411 --> 01:15:01,579 on having a conversation before we started. 1525 01:15:01,747 --> 01:15:04,457 I'm Iike-- I'm totaIIy taking advantage of this. 1526 01:15:04,625 --> 01:15:07,752 'Cause he's so smart and interesting. 1527 01:15:07,920 --> 01:15:09,837 I wouId, Iike, have my IittIe rants 1528 01:15:10,005 --> 01:15:13,132 about what was wrong with New York City that needed to be fixed. 1529 01:15:13,300 --> 01:15:16,427 And he-- he Iistened. 1530 01:15:19,932 --> 01:15:21,807 Bruno: When I saw him out with his wife, 1531 01:15:21,975 --> 01:15:23,935 with his chiIdren, he had it aII together. 1532 01:15:24,102 --> 01:15:27,313 You know, what was strange with EIiot Spitzer 1533 01:15:27,481 --> 01:15:31,317 was he could be pleasant and charming and act very caring. 1534 01:15:31,485 --> 01:15:33,986 When my wife was reported as being seriously ill, 1535 01:15:34,154 --> 01:15:35,947 he caIIed me severaI times. 1536 01:15:36,114 --> 01:15:39,867 And this is right in the height of some of our worst exchanges-- 1537 01:15:40,035 --> 01:15:42,245 couIdn't have been any more pIeasant. 1538 01:15:42,412 --> 01:15:46,958 But when he came after me, in what was caIIed Troopergate, 1539 01:15:47,125 --> 01:15:51,712 then it was apparent that this man reaIIy intended to destroy me. 1540 01:15:51,880 --> 01:15:53,923 Narrator: In the Spitzer-Bruno war, 1541 01:15:54,091 --> 01:15:56,092 the biggest battIe was Troopergate, 1542 01:15:56,260 --> 01:15:58,261 so-caIIed because of the way state troopers 1543 01:15:58,428 --> 01:16:01,556 may have been misused for poIiticaI purposes. 1544 01:16:01,723 --> 01:16:05,184 lt was an attack on Bruno that wouId boomerang on Spitzer. 1545 01:16:05,352 --> 01:16:07,979 lt was a Sunday and l was reading the IocaI newspaper, 1546 01:16:08,146 --> 01:16:09,230 the AIbany "Times Union." 1547 01:16:09,398 --> 01:16:11,023 And there was a story on the front page 1548 01:16:11,191 --> 01:16:14,193 and the suggestion was that Bruno had misused 1549 01:16:14,361 --> 01:16:16,737 state helicopters and other state traveI 1550 01:16:16,905 --> 01:16:19,198 for personal and poIiticaI purposes. 1551 01:16:19,366 --> 01:16:22,535 We reIeased pubIic documents on use of the aircraft. 1552 01:16:22,703 --> 01:16:25,413 It turned into a story, a one-day story. 1553 01:16:25,581 --> 01:16:28,416 But in a briIIiant, I think, communications move 1554 01:16:28,584 --> 01:16:31,002 by Mr. Bruno's peopIe, it was portrayed as, 1555 01:16:31,169 --> 01:16:33,588 "Oh, those are records that aren't normaIIy reIeased. 1556 01:16:33,755 --> 01:16:36,382 Oh, there's spying going on. There's dirty tricks going on." 1557 01:16:36,550 --> 01:16:39,677 The aIIegations are that the executive 1558 01:16:39,845 --> 01:16:44,348 conspired to use the state poIice, 1559 01:16:44,516 --> 01:16:48,227 state resources, to IiteraIIy spy 1560 01:16:48,395 --> 01:16:51,230 on a coIIeague in government. 1561 01:16:51,398 --> 01:16:54,066 I was toId, "No, don't comment. Don't-- don't respond." 1562 01:16:54,234 --> 01:16:56,527 And I kept saying, "We've got to respond. 1563 01:16:56,695 --> 01:16:59,447 We're Iosing badIy in the pubIic-reIations capacity 1564 01:16:59,615 --> 01:17:01,532 by not standing up and saying how ridicuIous 1565 01:17:01,700 --> 01:17:03,159 these aIIegations are." 1566 01:17:03,327 --> 01:17:04,827 Why wouIdn't he answer questions under oath? 1567 01:17:04,995 --> 01:17:05,995 Because of-- 1568 01:17:06,163 --> 01:17:07,538 What's the expIanation for that, Governor? 1569 01:17:07,706 --> 01:17:08,706 Fred, I-- 1570 01:17:08,874 --> 01:17:10,499 And was it on the advice of counseI in your agency? 1571 01:17:10,667 --> 01:17:11,709 - Fred-- - In the executive chamber? 1572 01:17:11,877 --> 01:17:13,002 Was he advised not to do it? 1573 01:17:13,170 --> 01:17:15,546 Fred-- Fred, I'm-- as I've said very cIearIy, 1574 01:17:15,714 --> 01:17:17,798 the investigation was one where they asked for information-- 1575 01:17:17,966 --> 01:17:19,550 - You keep changing the subject. - l'm not changing-- 1576 01:17:19,718 --> 01:17:20,718 The question is why-- 1577 01:17:20,886 --> 01:17:22,595 Okay, Fred, I've answered the question. Yes, Josh. 1578 01:17:22,763 --> 01:17:24,472 Dicker: It was a very intense press conference 1579 01:17:24,640 --> 01:17:26,724 where Spitzer was trying to cIaim he had nothing to do 1580 01:17:26,892 --> 01:17:29,143 with Troopergate and he hardIy knew anything about it. 1581 01:17:29,311 --> 01:17:31,395 Narrator: Spitzer insisted the leak had been 1582 01:17:31,563 --> 01:17:33,522 Darren Dopp's idea and suspended him. 1583 01:17:33,690 --> 01:17:36,025 But in fact, he had told Dopp to reIease the records 1584 01:17:36,193 --> 01:17:38,819 about Bruno and suggested how. 1585 01:17:38,987 --> 01:17:40,988 The famous quote that you're referring to is, 1586 01:17:41,156 --> 01:17:43,616 "Shove it up his ass with a red-hot poker." 1587 01:17:43,784 --> 01:17:46,327 Narrator: Investigations enguIfed Spitzer's office 1588 01:17:46,495 --> 01:17:49,914 and created the pubIic perception that he'd abused his power. 1589 01:17:50,082 --> 01:17:52,458 In reaIity, the controversy was a smokescreen 1590 01:17:52,626 --> 01:17:54,335 that hid Bruno's corruption. 1591 01:17:54,503 --> 01:17:57,505 The guy Bruno was going to basically fundraisers 1592 01:17:57,673 --> 01:17:59,965 and then, you know, making sure he made a two-second call 1593 01:18:00,133 --> 01:18:02,176 to, you know, some guy in the eIectricians' union 1594 01:18:02,344 --> 01:18:04,762 so he couId say, "No, this was, you know, state business." 1595 01:18:04,930 --> 01:18:08,557 As far as I'm concerned, it's a compIete fraud and a hoax, 1596 01:18:08,725 --> 01:18:13,270 you know, with one of the most corrupt state capitaIs. 1597 01:18:13,438 --> 01:18:16,315 "We're investigating whether or not 1598 01:18:16,483 --> 01:18:19,402 there was a Ieak to a reporter. Oh my God! 1599 01:18:19,569 --> 01:18:21,946 A crime has been committed!" 1600 01:18:22,114 --> 01:18:24,615 You know, it's the most-- the biggest joke. 1601 01:18:26,702 --> 01:18:29,286 Narrator: A carefuI examination of Bruno's travel logs 1602 01:18:29,454 --> 01:18:31,664 reveaIed that state troopers had ferried Bruno 1603 01:18:31,832 --> 01:18:34,959 on extended visits to see Spitzer's poIiticaI enemies, 1604 01:18:35,127 --> 01:18:39,505 including a trip to CV Starr, the office of Hank Greenberg. 1605 01:18:41,717 --> 01:18:44,552 Interviewer: Do you recaII Senator Joe Bruno coming to see you? 1606 01:18:44,720 --> 01:18:47,346 Yeah, Joe Bruno wouId come from time to time to see me. 1607 01:18:47,514 --> 01:18:49,265 They're aIways trying to raise money. 1608 01:18:49,433 --> 01:18:51,684 When he came, did you taIk Spitzer? 1609 01:18:51,852 --> 01:18:53,310 I don't recaII. 1610 01:18:53,478 --> 01:18:55,938 I don't think that-- if we did, it wasn't-- 1611 01:18:56,106 --> 01:19:00,025 it wasn't a major topic of our conversation. 1612 01:19:01,486 --> 01:19:03,738 Narrator: Spitzer's enemies were beginning 1613 01:19:03,905 --> 01:19:05,364 to taIk to each other. 1614 01:19:05,532 --> 01:19:07,700 To push the attack on Spitzer, 1615 01:19:07,868 --> 01:19:10,244 Joe Bruno hired a poIiticaI operative 1616 01:19:10,412 --> 01:19:12,079 who reveIed in his reputation 1617 01:19:12,247 --> 01:19:17,168 as the country's most notorious dirty trickster, Roger Stone. 1618 01:19:17,335 --> 01:19:20,171 Here you have Mr. CIean, the Sheriff of WaII Street, 1619 01:19:20,338 --> 01:19:23,424 someone for whom ethics is his signature issue 1620 01:19:23,592 --> 01:19:28,137 charging that Bruno is... is dirty. 1621 01:19:28,305 --> 01:19:30,723 This is a tyrant, a megaIomaniac, 1622 01:19:30,891 --> 01:19:33,225 a wouId-be dictator who reaIIy beIieves that you-- 1623 01:19:33,393 --> 01:19:35,519 in government, you somehow either have the right, 1624 01:19:35,687 --> 01:19:37,938 by getting a Iot of votes or being born to priviIege, 1625 01:19:38,106 --> 01:19:41,692 to just issue orders and peopIe do what you say. 1626 01:19:41,860 --> 01:19:44,528 Stone was this, Iike, legendary figure. 1627 01:19:44,696 --> 01:19:47,907 He had his hair dyed. 1628 01:19:48,074 --> 01:19:50,493 He was a "swinger," in IiteraI terms. 1629 01:19:50,660 --> 01:19:52,745 And the reporters, they were Iike-- 1630 01:19:52,913 --> 01:19:54,789 they thought of him as Iike a piece of work. 1631 01:19:54,956 --> 01:19:57,500 But they had, Iike, affection for him, 1632 01:19:57,667 --> 01:19:59,668 because he didn't make any bones about the fact 1633 01:19:59,836 --> 01:20:02,463 that he was such a fIawed character. 1634 01:20:02,631 --> 01:20:04,715 Even in his own RepubIican ranks, 1635 01:20:04,883 --> 01:20:07,718 he was Iike, regarded as, Iike, a maverick, 1636 01:20:07,886 --> 01:20:10,638 if not gadfIy, if not Iunatic. 1637 01:20:10,806 --> 01:20:14,266 But crazy-Iike-a-fox kind of a guy, I guess. 1638 01:20:14,434 --> 01:20:16,644 Sure, I beIieve in a gonzo brand of politics, 1639 01:20:16,812 --> 01:20:19,605 because you have to get-- you've gotta get peopIe's attention. 1640 01:20:19,773 --> 01:20:21,816 In a worId where there's so much competition 1641 01:20:21,983 --> 01:20:23,651 for their attention poIiticaIIy, 1642 01:20:23,819 --> 01:20:25,611 and then there's the rest of life: 1643 01:20:25,779 --> 01:20:28,280 sports, food, entertainment, whatever it is. 1644 01:20:28,448 --> 01:20:30,866 You're competing for all of that, because poIitics, 1645 01:20:31,034 --> 01:20:33,577 Iike aII those other things, is entertainment. 1646 01:20:33,745 --> 01:20:36,413 Narrator: In 1996, Stone was fired 1647 01:20:36,581 --> 01:20:38,290 from the DoIe presidentiaI campaign 1648 01:20:38,458 --> 01:20:40,292 when it was reveaIed that he and his wife 1649 01:20:40,460 --> 01:20:42,711 had marketed themseIves as swingers. 1650 01:20:42,879 --> 01:20:45,631 "We are seeking simiIar couples," said the ad, 1651 01:20:45,799 --> 01:20:48,968 "or exceptionaI muscuIar, weII-hung singIe men." 1652 01:20:49,135 --> 01:20:52,221 But that didn't stop Roger. 1653 01:20:52,389 --> 01:20:54,974 An eIegant dresser with a taste for martinis, 1654 01:20:55,141 --> 01:20:57,893 he reinvented himself as a charming secret agent 1655 01:20:58,061 --> 01:21:00,354 with a Iicense to kiII. 1656 01:21:00,522 --> 01:21:03,691 He reveIed in the body poIitic and his own bodybuilding. 1657 01:21:03,859 --> 01:21:05,442 Just beIow his neckIine, 1658 01:21:05,610 --> 01:21:09,113 he bore a tattoo of his hero Richard Nixon. 1659 01:21:09,281 --> 01:21:11,240 Just a few weeks after Bruno hired Stone... 1660 01:21:11,408 --> 01:21:12,408 ( phone ringing ) 1661 01:21:12,576 --> 01:21:14,743 ...a mysterious voice message was left on the phone 1662 01:21:14,911 --> 01:21:17,162 of Spitzer's 80-year-oId father. 1663 01:21:17,330 --> 01:21:18,330 ( beeps ) 1664 01:21:18,498 --> 01:21:20,374 Man: This is a message for Bernard Spitzer. 1665 01:21:20,542 --> 01:21:23,752 You wiII be subpoenaed to testify 1666 01:21:23,920 --> 01:21:26,255 before the Senate Committee on Investigations 1667 01:21:26,423 --> 01:21:28,465 on your shady campaign Ioans. 1668 01:21:28,633 --> 01:21:30,426 If you resist the subpoena, 1669 01:21:30,594 --> 01:21:32,803 you wiII be arrested and brought to AIbany. 1670 01:21:32,971 --> 01:21:35,389 And there's not a goddamned thing your phony, 1671 01:21:35,557 --> 01:21:38,058 psycho, piece-of-shit son 1672 01:21:38,226 --> 01:21:39,894 can do about it. 1673 01:21:40,061 --> 01:21:43,147 Bernie, your phony Ioans are about to catch up with you. 1674 01:21:43,315 --> 01:21:45,566 You wiII be forced to teII the truth, 1675 01:21:45,734 --> 01:21:48,527 and the fact that your son's a pathoIogicaI Iiar 1676 01:21:48,695 --> 01:21:51,572 - wiII be known to aII. - ( clicks, beeps ) 1677 01:21:51,740 --> 01:21:54,825 We spent some time and effort to see where it came from, 1678 01:21:54,993 --> 01:21:57,119 and it came from an apartment that had been rented 1679 01:21:57,287 --> 01:21:59,914 by either him or a company that he owned. 1680 01:22:00,081 --> 01:22:03,125 And the voice, we were abIe to compare from the voice-- 1681 01:22:03,293 --> 01:22:05,836 the message he'd Ieft on the voicemail-- 1682 01:22:06,004 --> 01:22:08,213 to appearances he had made on TV, 1683 01:22:08,381 --> 01:22:10,299 and we got a voice anaIyst to say, "Yeah, it's the same voice." 1684 01:22:10,467 --> 01:22:12,760 And people who knew him said, "Yeah, that's Roger Stone's voice." 1685 01:22:12,928 --> 01:22:15,012 The tape did sound eerily like me. 1686 01:22:15,180 --> 01:22:18,974 UItimateIy, private investigators that l retained 1687 01:22:19,142 --> 01:22:21,477 determined that there had been a tap on my phone 1688 01:22:21,645 --> 01:22:23,103 at 40 CentraI Park South. 1689 01:22:23,271 --> 01:22:26,023 I now beIieve that a rogue unit of the New York State PoIice, 1690 01:22:26,191 --> 01:22:28,692 under the direction of EIiot Spitzer, 1691 01:22:28,860 --> 01:22:31,862 who understood that we had jujitsued him on Troopergate, 1692 01:22:32,030 --> 01:22:34,073 was monitoring my caIIs. In other words, 1693 01:22:34,240 --> 01:22:36,533 I think the tape that was reIeased was-- 1694 01:22:36,701 --> 01:22:39,370 was pasted together. It was a-- it was a-- 1695 01:22:39,537 --> 01:22:41,580 it was a put-up job. 1696 01:22:41,748 --> 01:22:45,834 The FBI caIIed my dad's office 1697 01:22:46,002 --> 01:22:47,962 and asked to come by. 1698 01:22:49,839 --> 01:22:52,049 Narrator: On September 6th, 2007, 1699 01:22:52,217 --> 01:22:54,051 Agent Katzman from the FBI 1700 01:22:54,219 --> 01:22:57,388 visited Bernard Spitzer at his Manhattan offices. 1701 01:22:57,555 --> 01:23:00,975 The questions didn't focus much 1702 01:23:01,142 --> 01:23:04,812 on what Roger Stone had done or allegedly done 1703 01:23:04,980 --> 01:23:07,898 or the issues reIating to the phone caII. 1704 01:23:08,066 --> 01:23:09,775 It was more about me. 1705 01:23:09,943 --> 01:23:12,486 Did you think anything about that in retrospect? 1706 01:23:12,654 --> 01:23:14,947 WeII, in retrospect, I-- it has crossed my mind. 1707 01:23:15,115 --> 01:23:17,825 And it crossed your mind in what way, since then? 1708 01:23:17,993 --> 01:23:20,160 WeII, wondering whether 1709 01:23:20,328 --> 01:23:23,372 this was part of the investigation that led to my downfall. 1710 01:23:29,504 --> 01:23:33,465 The FBI showed up at my apartment. 1711 01:23:33,633 --> 01:23:36,010 They just showed up at 8:00 a.m. 1712 01:23:36,177 --> 01:23:38,303 And they said, "We want to taIk to you. 1713 01:23:38,471 --> 01:23:40,723 We think you know what this is about." 1714 01:23:40,890 --> 01:23:45,060 Agent-- Agent Katzman was the guy's name. 1715 01:23:45,228 --> 01:23:47,938 He-- he wasn't very nice. 1716 01:23:48,106 --> 01:23:51,275 Narrator: Stone said that the FBI also contacted him 1717 01:23:51,443 --> 01:23:53,360 and wanted to taIk. 1718 01:23:53,528 --> 01:23:55,571 Stone: We could never actuaIIy get a confirmation 1719 01:23:55,739 --> 01:23:57,656 about what they wanted to taIk about. 1720 01:23:57,824 --> 01:24:01,160 And I decIined to have that interview on the advice of my attorney. 1721 01:24:01,327 --> 01:24:05,164 Narrator: Bruno fired Stone because of the phone caII. 1722 01:24:05,331 --> 01:24:07,666 But Stone confirms that he was then hired 1723 01:24:07,834 --> 01:24:09,877 by weaIthy, motivated RepubIicans 1724 01:24:10,045 --> 01:24:12,796 to stay on the Spitzer detaiI. 1725 01:24:12,964 --> 01:24:16,300 A few months Iater Rich Baum, secretary to the governor, 1726 01:24:16,468 --> 01:24:19,136 received an emaiI from Stone's consuIting company. 1727 01:24:22,515 --> 01:24:23,932 The question is 1728 01:24:24,100 --> 01:24:26,602 how did the investigation of Spitzer begin? 1729 01:24:26,770 --> 01:24:28,979 The government cIaims it spotted 1730 01:24:29,147 --> 01:24:32,483 a suspicious wire transfer of severaI thousand doIIars. 1731 01:24:32,650 --> 01:24:35,736 What was interesting to me is that the whole thing 1732 01:24:35,904 --> 01:24:37,946 comes from a singIe money transfer 1733 01:24:38,114 --> 01:24:40,741 that sort of sent up a red fIag, 1734 01:24:40,909 --> 01:24:43,160 a suspicious activity report. 1735 01:24:43,328 --> 01:24:46,663 Every day there are thousands of these suckers filed. 1736 01:24:46,831 --> 01:24:50,459 Narrator: The FederaI CIearinghouse receives 3400 1737 01:24:50,627 --> 01:24:54,379 suspicious activity reports, or SARs, every day. 1738 01:24:54,547 --> 01:24:57,341 Someone had to have taken 1739 01:24:57,509 --> 01:25:01,303 a very personaI interest in this particuIar transaction 1740 01:25:01,471 --> 01:25:04,139 and kind of shepherded it through the process 1741 01:25:04,307 --> 01:25:06,683 in order for it to be the subject of a lot of attention 1742 01:25:06,851 --> 01:25:09,895 and uItimateIy be the basis for a case. 1743 01:25:10,063 --> 01:25:12,689 Narrator: The SAR was fiIed by North Fork Bank 1744 01:25:12,857 --> 01:25:15,484 after Spitzer asked the bank to keep his name off 1745 01:25:15,652 --> 01:25:20,364 a $5,000 wire to something called QAT Consulting. 1746 01:25:20,532 --> 01:25:22,574 Barrett: My understanding is that 1747 01:25:22,742 --> 01:25:25,536 they didn't even know what QAT ConsuIting was 1748 01:25:25,703 --> 01:25:27,788 and that they caIIed Morgenthau's office. 1749 01:25:27,956 --> 01:25:30,749 Narrator: Robert Morgenthau, the Manhattan District Attorney, 1750 01:25:30,917 --> 01:25:32,876 was surprised when the federaI government 1751 01:25:33,044 --> 01:25:36,004 came Iooking for heIp on how to prosecute escort services. 1752 01:25:36,172 --> 01:25:39,133 The feds just didn't do prostitution cases. 1753 01:25:39,300 --> 01:25:40,801 They aIso naiveIy asked 1754 01:25:40,969 --> 01:25:43,387 if it was common to prosecute customers. 1755 01:25:43,555 --> 01:25:46,473 The answer from Morgenthau's office was no. 1756 01:25:46,641 --> 01:25:49,726 Barrett: Once they figured out it was a prostitution ring, 1757 01:25:49,894 --> 01:25:52,938 then it seems to me you're at a juncture in the road here. 1758 01:25:53,106 --> 01:25:54,565 Once you reaIize 1759 01:25:54,732 --> 01:25:58,277 that it's just a governor with a hard-on, 1760 01:25:58,444 --> 01:26:00,320 the most you're gonna get out of this 1761 01:26:00,488 --> 01:26:02,406 is a news story and a resignation. 1762 01:26:02,574 --> 01:26:04,741 I think the government has better things to do. 1763 01:26:04,909 --> 01:26:07,911 Narrator: The US Attorney for the Southern District of New York 1764 01:26:08,079 --> 01:26:10,622 was MichaeI Garcia, the man who had tangIed with Spitzer 1765 01:26:10,790 --> 01:26:13,292 over the investigation of Hank Greenberg. 1766 01:26:13,459 --> 01:26:16,962 NormaIIy focused on terrorists, mobsters and WaII Street, 1767 01:26:17,130 --> 01:26:20,340 Garcia's office was suddenIy spending enormous resources 1768 01:26:20,508 --> 01:26:22,926 to go after a smaII escort service. 1769 01:26:23,094 --> 01:26:25,053 Garcia was a RepubIican. 1770 01:26:25,221 --> 01:26:27,139 Was this a poIiticaI hit? 1771 01:26:27,307 --> 01:26:29,725 The Spitzer investigation began at the very moment 1772 01:26:29,893 --> 01:26:31,268 when the Justice Department was involved 1773 01:26:31,436 --> 01:26:32,769 in a huge scandaI of its own. 1774 01:26:32,937 --> 01:26:35,272 And the issue was whether the Justice Department 1775 01:26:35,440 --> 01:26:38,609 was hiring and firing US Attorneys based on politics, 1776 01:26:38,776 --> 01:26:41,111 and whether it was going after powerfuI Democrats 1777 01:26:41,279 --> 01:26:42,696 in order to get rid of them. 1778 01:26:42,864 --> 01:26:45,574 The only banking activity that seemed to interest them 1779 01:26:45,742 --> 01:26:47,993 was EIiot Spitzer's banking activity, you know, 1780 01:26:48,161 --> 01:26:51,663 as we sunk deeper and deeper 1781 01:26:51,831 --> 01:26:54,499 into this horrendous banking scandal 1782 01:26:54,667 --> 01:26:56,793 that's convuIsing the country. 1783 01:26:56,961 --> 01:26:59,713 Suspicious banking activity by Eliot Spitzer 1784 01:26:59,881 --> 01:27:03,342 and the United States government was on the traiI. 1785 01:27:05,011 --> 01:27:07,554 Narrator: After notifying superiors in Washington, 1786 01:27:07,722 --> 01:27:10,057 the US Attorney's office obtained permission 1787 01:27:10,225 --> 01:27:13,268 to wiretap the phones and emaiIs of The Emperors CIub. 1788 01:27:21,903 --> 01:27:24,154 The night before, it's Iike 8:00 p.m. 1789 01:27:24,322 --> 01:27:26,114 We're both sitting at our computers. 1790 01:27:26,282 --> 01:27:28,825 And aII of this information, Iike our cIient information, 1791 01:27:28,993 --> 01:27:30,953 is being sucked out of the computers. 1792 01:27:31,120 --> 01:27:33,247 And we're Iike, "Oh my goodness, we have hackers." 1793 01:27:33,414 --> 01:27:37,417 We downIoad some kinda, Iike, encryption software, 1794 01:27:37,585 --> 01:27:40,587 and try to, Iike, save our information, whatever is left. 1795 01:27:40,755 --> 01:27:43,090 And then we go to bed as usuaI. 1796 01:27:43,258 --> 01:27:46,176 And 6:30 a.m.-- bang bang bang. 1797 01:27:46,344 --> 01:27:48,512 It's the FBI. 1798 01:27:48,680 --> 01:27:50,764 Okay, shock. 1799 01:27:50,932 --> 01:27:52,307 ( knock on door ) 1800 01:27:54,852 --> 01:27:56,687 SuwaI: I was certainIy unprepared 1801 01:27:56,854 --> 01:27:59,398 to just be woken up out of my sleep 1802 01:27:59,565 --> 01:28:02,943 at 6:30 a.m. and, you know, have the FBl come 1803 01:28:03,111 --> 01:28:05,070 in their buIIetproof vests 1804 01:28:05,238 --> 01:28:07,614 asking me if there are firearms in the house. 1805 01:28:07,782 --> 01:28:09,533 You know, I mean, just-- and all l'm thinking, 1806 01:28:09,701 --> 01:28:13,120 I'm Iike, "That cash is gonna get us in trouble." 1807 01:28:13,288 --> 01:28:17,249 Narrator: Cece and Mark Brener had nearIy a miIIion doIIars 1808 01:28:17,417 --> 01:28:21,128 in cash in a safe in their cIoset. 1809 01:28:22,171 --> 01:28:24,047 The guy came in, one of the FBI men. 1810 01:28:24,215 --> 01:28:26,049 He came in and he was Iike, 1811 01:28:26,217 --> 01:28:28,760 "We are closing Emperors CIub VIP." 1812 01:28:28,928 --> 01:28:31,930 And I was Iike, "Oh oh! 1813 01:28:32,098 --> 01:28:35,851 My God, my stomach, my everything, my baby." 1814 01:28:36,019 --> 01:28:38,312 It was just surreaI. 1815 01:28:38,479 --> 01:28:41,898 l mean, that was Iike my chiId. 1816 01:28:42,066 --> 01:28:45,402 The essence of what went on here was, 1817 01:28:45,570 --> 01:28:49,281 in federal-law terms, a vioIation of the Mann Act. 1818 01:28:50,575 --> 01:28:52,909 Narrator: Known as the "white sIave act," 1819 01:28:53,077 --> 01:28:55,287 the Mann Act made it a crime to transport women 1820 01:28:55,455 --> 01:28:57,581 across state Iines for immoraI purposes. 1821 01:28:57,749 --> 01:29:01,501 That is why federaI prosecutors were particuIarIy interested 1822 01:29:01,669 --> 01:29:05,297 in out-of-town dates with "AngeIina" and AshIey. 1823 01:29:05,465 --> 01:29:08,925 In recent years, it's used to go after child-prostitution rings. 1824 01:29:09,093 --> 01:29:12,846 It is never used to prosecute johns or customers. 1825 01:29:13,014 --> 01:29:15,182 Scott Horton: We have to Iook at these statutes 1826 01:29:15,350 --> 01:29:17,559 in terms of standards of enforcement. 1827 01:29:17,727 --> 01:29:20,896 ls this statute in fact being enforced that way 1828 01:29:21,064 --> 01:29:22,856 uniformIy across the country? 1829 01:29:23,024 --> 01:29:24,816 And the answer is it is not! 1830 01:29:24,984 --> 01:29:28,653 Narrator: Why then did the Department of Justice want the case? 1831 01:29:28,821 --> 01:29:31,156 After months of investigating Spitzer, 1832 01:29:31,324 --> 01:29:33,784 MichaeI Garcia's deputies suddenIy sent emaiIs 1833 01:29:33,951 --> 01:29:36,995 to Washington seeking support for using the Mann Act. 1834 01:29:37,163 --> 01:29:39,289 Wiretaps reveaIed many customers 1835 01:29:39,457 --> 01:29:41,708 who paid for escorts all over the world. 1836 01:29:41,876 --> 01:29:44,461 But Garcia's office was onIy interested 1837 01:29:44,629 --> 01:29:47,214 in prosecuting one of the customers. 1838 01:29:47,382 --> 01:29:50,384 They pressured me-- Iike they do on TV. 1839 01:29:50,551 --> 01:29:53,470 And they said, "We know you worked for this agency 1840 01:29:53,638 --> 01:29:55,764 and we want you to Iook at some pictures 1841 01:29:55,932 --> 01:29:58,308 and teII us if you recognize anyone." 1842 01:29:58,476 --> 01:30:00,185 And I did that 1843 01:30:00,353 --> 01:30:02,187 and EIiot Spitzer was in there. 1844 01:30:02,355 --> 01:30:06,733 And l said yes, l recognized him and yes, I had seen him. 1845 01:30:06,901 --> 01:30:10,529 And I said, "ShouId I maybe have a Iawyer?" 1846 01:30:10,696 --> 01:30:13,532 And they said, "WeII, we want to keep this confidentiaI." 1847 01:30:13,699 --> 01:30:16,827 The main thing about that meeting 1848 01:30:16,994 --> 01:30:19,162 was that they were very insistent 1849 01:30:19,330 --> 01:30:22,040 and pressuring me in an uncomfortabIe way, 1850 01:30:22,208 --> 01:30:26,837 you know, for me to admit that I had sex with EIiot Spitzer. 1851 01:30:28,005 --> 01:30:30,757 You know, why him and why not anyone eIse? 1852 01:30:30,925 --> 01:30:33,677 All you have to do is Iay this case side by side 1853 01:30:33,845 --> 01:30:36,346 with the DC Madam case and Iook at the way 1854 01:30:36,514 --> 01:30:38,181 the prosecutors behaved in Washington 1855 01:30:38,349 --> 01:30:40,308 and the way they behaved in New York. 1856 01:30:40,476 --> 01:30:42,727 And it's Iike night and day. 1857 01:30:42,895 --> 01:30:44,688 They're constantIy making clear that, 1858 01:30:44,856 --> 01:30:49,109 "No, we're just after the madam and we're after the business. 1859 01:30:49,277 --> 01:30:53,196 We are not interested in the customers." 1860 01:30:53,364 --> 01:30:56,533 Narrator: In the DC Madam case, two high-profile Republicans 1861 01:30:56,701 --> 01:30:59,995 were discovered using an escort service in Washington DC. 1862 01:31:00,163 --> 01:31:02,998 Senator David Vitter had actuaIIy ordered prostitutes 1863 01:31:03,166 --> 01:31:05,667 during roII-caII votes when he was a congressman. 1864 01:31:05,835 --> 01:31:09,004 He apologized, but he did not resign. 1865 01:31:09,172 --> 01:31:11,965 Horton: David Vitter is stiII sitting in the Senate. He never Ieft. 1866 01:31:12,133 --> 01:31:14,384 Nor was there ever any pressure brought 1867 01:31:14,552 --> 01:31:16,678 by the federaI government for him to leave. 1868 01:31:16,846 --> 01:31:18,930 And what's the difference between these cases? 1869 01:31:19,098 --> 01:31:21,266 One case invoIves two prominent RepubIicans 1870 01:31:21,434 --> 01:31:23,018 and the other invoIves a Democrat. 1871 01:31:23,186 --> 01:31:24,978 That's the onIy difference, frankIy. 1872 01:31:26,814 --> 01:31:29,900 Narrator: The question remained: how did the U.S. government 1873 01:31:30,067 --> 01:31:31,943 first find out about Spitzer? 1874 01:31:32,111 --> 01:31:35,238 Was the FBI tipped off by one of Spitzer's enemies? 1875 01:31:38,242 --> 01:31:40,327 Stone: I was in a private cIub-- 1876 01:31:40,495 --> 01:31:44,414 an aduIt-themed cIub in Miami caIIed Miami VeIvet. 1877 01:31:44,582 --> 01:31:46,500 There was a woman sitting at the bar. 1878 01:31:46,667 --> 01:31:47,667 I was sitting at the bar. 1879 01:31:47,835 --> 01:31:50,420 And we began a conversation and I asked her what she did. 1880 01:31:50,588 --> 01:31:53,089 And she said she was professionaIIy a caII girI, 1881 01:31:53,257 --> 01:31:55,175 but she wasn't working this particular night. 1882 01:31:55,343 --> 01:31:57,219 I said, "WeII, you know, what, who are your-- 1883 01:31:57,386 --> 01:31:58,845 what kind of cIients do you have?" 1884 01:31:59,013 --> 01:32:02,390 You know, she had athIetes. She had captains of industry. 1885 01:32:02,558 --> 01:32:04,559 She had prominent businessmen. 1886 01:32:04,727 --> 01:32:06,937 She had poIiticians and so on. 1887 01:32:07,104 --> 01:32:09,481 And I said, "WeII, Iike who?" She said, you know, 1888 01:32:09,649 --> 01:32:12,317 "I recentIy-- I was-- I aImost had a date 1889 01:32:12,485 --> 01:32:14,653 with the Governor of New Jersey." 1890 01:32:14,820 --> 01:32:18,782 l said, "Jon Corzi--? You had a date with Jon Corzine?" 1891 01:32:18,950 --> 01:32:21,535 She said, "Who's he? I had a date with EIiot Spitzer." 1892 01:32:21,702 --> 01:32:24,287 l said, "No, Eliot Spitzer is the Governor of New York, 1893 01:32:24,455 --> 01:32:25,455 not New Jersey." 1894 01:32:25,623 --> 01:32:27,207 She said, "Yeah weII, l'm not into politics." 1895 01:32:27,375 --> 01:32:29,417 l said, "Was there anything eIse notabIe?" 1896 01:32:29,585 --> 01:32:31,461 And she said, "WeII, he was kinda weird." 1897 01:32:31,629 --> 01:32:33,547 I said, "WeII, what do you mean?" She said, "Well, he kept-- 1898 01:32:33,714 --> 01:32:37,592 he had these black knee socks and he kept them on the whoIe time." 1899 01:32:37,760 --> 01:32:41,221 So I ask you: what kind of guy fucks with his socks on? 1900 01:32:41,389 --> 01:32:44,516 ( chuckIes ) The bIack-socks thing isn't true. 1901 01:32:44,684 --> 01:32:46,476 He wore Iow-cut socks 1902 01:32:46,644 --> 01:32:49,104 and he took them off. 1903 01:32:50,231 --> 01:32:52,774 Stone: The next day I discussed it with my attorneys 1904 01:32:52,942 --> 01:32:54,734 and l asked them to contact the FBI 1905 01:32:54,902 --> 01:32:57,237 and teII them what we knew in a formal letter. 1906 01:32:57,405 --> 01:32:59,656 Now I don't cIaim 1907 01:32:59,824 --> 01:33:02,158 that this was a reveIation to the federaI investigators. 1908 01:33:02,326 --> 01:33:04,703 It may have been a piece of a puzzIe that they were putting together. 1909 01:33:04,870 --> 01:33:07,914 I may have started an investigation in an area they weren't looking at. 1910 01:33:08,082 --> 01:33:11,167 I have no idea. And I haven't made any cIaim. 1911 01:33:11,335 --> 01:33:13,837 Narrator: The FBI insists that it never received 1912 01:33:14,005 --> 01:33:16,172 the Ietter from Stone's attorney. 1913 01:33:18,593 --> 01:33:21,052 ( horn honking ) 1914 01:33:23,514 --> 01:33:26,516 Spitzer: It wasn't an addiction. It was a desire, 1915 01:33:26,684 --> 01:33:30,562 the need to find an outIet that was not within 1916 01:33:30,730 --> 01:33:34,941 the very confined worId that l had been living. 1917 01:33:35,109 --> 01:33:36,818 Interviewer: Had you found a way to compIeteIy 1918 01:33:36,986 --> 01:33:39,446 compartmentaIize it so that it was this over here, and-- 1919 01:33:39,614 --> 01:33:41,197 Yeah yeah. 1920 01:33:41,365 --> 01:33:43,867 And was that the-- was that the-- 1921 01:33:44,035 --> 01:33:46,369 the beauty of it, in a way, as you saw it? 1922 01:33:46,537 --> 01:33:50,707 Look, l don't want to go there, but it-- it did not affect governance. 1923 01:33:50,875 --> 01:33:54,878 And in fact, I can say with reaI certainty 1924 01:33:55,046 --> 01:33:58,131 in February, March of '08, 1925 01:33:58,299 --> 01:34:00,717 peopIe were beginning to say, "Hey, wait a minute, 1926 01:34:00,885 --> 01:34:02,427 their strategy is working." 1927 01:34:02,595 --> 01:34:04,638 We were winning the poIiticaI races, 1928 01:34:04,805 --> 01:34:07,307 getting the economic agenda in place. 1929 01:34:07,475 --> 01:34:10,226 People were beginning to see that the chess game was pIaying out. 1930 01:34:10,394 --> 01:34:14,105 - ( appIause ) - Spitzer: Join me in good faith. 1931 01:34:14,273 --> 01:34:16,650 l will meet you with an open hand. 1932 01:34:16,817 --> 01:34:19,611 For we will realize this opportunity best 1933 01:34:19,779 --> 01:34:23,865 if we work together in a spirit of cooperation. 1934 01:34:24,033 --> 01:34:27,452 ( appIause ) 1935 01:34:27,620 --> 01:34:29,746 Man: We'd been through so much. 1936 01:34:29,914 --> 01:34:32,957 And we had had a very successfuI State of the State address, 1937 01:34:33,125 --> 01:34:35,710 we had a great budget announcement 1938 01:34:35,878 --> 01:34:39,881 and we reaIIy thought we were turning the corner. 1939 01:34:40,049 --> 01:34:44,427 ln fact, we were at a bar and one of the senior advisors 1940 01:34:44,595 --> 01:34:46,638 to the governor raised his gIass, 1941 01:34:46,806 --> 01:34:49,099 in what l'm sure was the moment that jinxed us aII, 1942 01:34:49,266 --> 01:34:51,810 and said, "To turning the corner!" 1943 01:34:51,977 --> 01:34:54,979 WeII, we didn't turn the corner. 1944 01:34:55,147 --> 01:34:57,857 Man: This prostitution business, 1945 01:34:58,025 --> 01:35:00,735 referred to as The Emperors CIub VIP, 1946 01:35:00,903 --> 01:35:02,862 was an internationaI organization... 1947 01:35:03,030 --> 01:35:05,281 Narrator: On March 6th, the Department of Justice 1948 01:35:05,449 --> 01:35:08,576 brought charges against the four peopIe who ran The Emperors Club. 1949 01:35:08,744 --> 01:35:10,578 Prosecutor: In addition with the prostitution offenses, 1950 01:35:10,746 --> 01:35:12,539 they are charged with money Iaundering... 1951 01:35:12,707 --> 01:35:14,916 Narrator: Two things caught the attention of reporters: 1952 01:35:15,084 --> 01:35:17,377 the high prices paid to the escorts 1953 01:35:17,545 --> 01:35:20,922 and the highIy unusuaI appearance, in a prostitution case, 1954 01:35:21,090 --> 01:35:25,218 of members of the pubIic-corruption unit of the Department of Justice. 1955 01:35:27,596 --> 01:35:29,973 Interviewer: When did you first have an inclination 1956 01:35:30,141 --> 01:35:33,351 that you were gonna have a serious poIiticaI probIem? 1957 01:35:36,313 --> 01:35:39,816 The Thursday 1958 01:35:39,984 --> 01:35:42,652 when it was announced 1959 01:35:42,820 --> 01:35:45,613 that a case had been made 1960 01:35:45,781 --> 01:35:47,532 against The Emperors CIub. 1961 01:35:50,494 --> 01:35:54,664 Interviewer: And when that came out, what did you think? 1962 01:35:54,832 --> 01:35:57,751 I said this is an issue. 1963 01:36:01,338 --> 01:36:04,007 Narrator: The FBI wiretaps of The Emperors Club 1964 01:36:04,175 --> 01:36:07,051 intercepted more than 5,000 phone caIIs and text messages 1965 01:36:07,219 --> 01:36:09,637 and more than 6,000 emaiIs. 1966 01:36:11,098 --> 01:36:14,267 They knew where I had been. They had dates and times. 1967 01:36:14,435 --> 01:36:18,646 On one trip, the booker and I were texting back and forth. 1968 01:36:18,814 --> 01:36:20,190 You know, Iike she wouId say, 1969 01:36:20,357 --> 01:36:22,233 "He's there now and he's ready to see you." 1970 01:36:22,401 --> 01:36:25,195 And I wouId say, "Okay, I'm heading over there." 1971 01:36:25,362 --> 01:36:29,282 They said, "Look, we aIready know aII about you. 1972 01:36:29,450 --> 01:36:31,659 We know that you were at this hoteI at this time 1973 01:36:31,827 --> 01:36:33,536 and 10 minutes Iater you were here. 1974 01:36:33,704 --> 01:36:36,039 We know this." 1975 01:36:36,207 --> 01:36:39,542 Narrator: The Iist of charges against The Emperors Club, 1976 01:36:39,710 --> 01:36:42,629 the affidavit, was surprisingIy detaiIed. 1977 01:36:42,797 --> 01:36:47,550 As a piece of writing, it was crafted Iike a mystery story, 1978 01:36:47,718 --> 01:36:49,719 fuII of cIues. 1979 01:36:49,887 --> 01:36:52,305 lt teased the reader with a few sentences each 1980 01:36:52,473 --> 01:36:54,224 on CIients One to Eight; 1981 01:36:54,391 --> 01:36:57,977 and then five riveting pages on Client Number Nine 1982 01:36:58,145 --> 01:37:00,814 and his one date with "Kristen," 1983 01:37:00,981 --> 01:37:03,358 otherwise known as AshIey Dupré, 1984 01:37:03,526 --> 01:37:06,569 at the MayfIower HoteI in Washington, DC. 1985 01:37:06,737 --> 01:37:09,989 The affidavit was filled with aII sorts of cruciaI detaiIs 1986 01:37:10,157 --> 01:37:12,408 that aIIowed reporters to go off 1987 01:37:12,576 --> 01:37:14,994 and find out who CIient Nine was. 1988 01:37:16,247 --> 01:37:18,581 Barrett: "The Times" won a PuIitzer 1989 01:37:18,749 --> 01:37:20,667 because they went down and, you know, 1990 01:37:20,835 --> 01:37:23,086 they did things like they went to every major hoteI 1991 01:37:23,254 --> 01:37:26,214 in Washington and figured out who was in that suite, 1992 01:37:26,382 --> 01:37:28,716 in which hoteI, 'cause they didn't know which hotel he was in. 1993 01:37:31,262 --> 01:37:34,389 Narrator: The affidavit was fuII of steamy sexual banter 1994 01:37:34,557 --> 01:37:37,559 and concerns about whether the cIient was difficuIt 1995 01:37:37,726 --> 01:37:39,978 or even safe. 1996 01:37:40,145 --> 01:37:42,605 Was the writing meant to convict the accused 1997 01:37:42,773 --> 01:37:45,942 or embarrass the cIient? 1998 01:37:46,110 --> 01:37:50,363 An FBI guy with sandy-coIored hair and a mustache 1999 01:37:50,531 --> 01:37:52,824 brought up something from the wiretap. 2000 01:37:52,992 --> 01:37:56,619 He said, "We heard that sometimes you were asked to bring sex toys." 2001 01:37:56,787 --> 01:37:59,956 And the guy kept pressing me. 2002 01:38:00,124 --> 01:38:02,667 It was Iike he wanted to get some kind of information 2003 01:38:02,835 --> 01:38:06,087 about some kinky sex stuff or something juicy that happened. 2004 01:38:06,255 --> 01:38:08,506 You know, Iike the governor's into whatever. 2005 01:38:08,674 --> 01:38:11,676 And I fIat out said, "I don't see how any of that 2006 01:38:11,844 --> 01:38:14,679 is reIevant to your investigation to prosecute 2007 01:38:14,847 --> 01:38:16,806 what you're trying to prosecute." 2008 01:38:16,974 --> 01:38:18,308 There was nothing. 2009 01:38:18,475 --> 01:38:20,768 Maybe some sexy Iingerie or something, 2010 01:38:20,936 --> 01:38:22,979 but that was aII I ever took. 2011 01:38:23,147 --> 01:38:25,315 There were a number of leaks in this case, 2012 01:38:25,482 --> 01:38:27,191 most obviously to "The New York Times." 2013 01:38:27,359 --> 01:38:30,278 But a coupIe of New York TV stations aIso were on to the story. 2014 01:38:30,446 --> 01:38:32,989 And the AIbany "Times Union" got sent 2015 01:38:33,157 --> 01:38:35,325 the criminal affidavit in The Emperors CIub case. 2016 01:38:35,492 --> 01:38:37,201 And its reporter was toId specificaIIy 2017 01:38:37,369 --> 01:38:40,330 to Iook at CIient Nine and told that 2018 01:38:40,497 --> 01:38:43,249 he was a weaIthy New York public official. 2019 01:38:43,417 --> 01:38:46,669 Narrator: EIiot Spitzer was never charged with any crime. 2020 01:38:46,837 --> 01:38:49,589 So you reaIIy have to wonder whether or not 2021 01:38:49,757 --> 01:38:54,510 the purpose of the investigation at some point became the Ieak. 2022 01:38:54,678 --> 01:38:56,512 Some breaking news this afternoon. 2023 01:38:56,680 --> 01:38:58,389 "The New York Times" is reporting 2024 01:38:58,557 --> 01:39:00,391 that Governor EIiot Spitzer of New York 2025 01:39:00,559 --> 01:39:03,186 has informed some of his senior administration officiaIs 2026 01:39:03,354 --> 01:39:06,356 that he had been invoIved in a prostitution ring. 2027 01:39:06,523 --> 01:39:08,149 I recessed the conference. 2028 01:39:08,317 --> 01:39:11,694 We went into my office, the whoIe conference and had the TV on. 2029 01:39:11,862 --> 01:39:14,405 Reporter: Cheers erupted on trading fIoors around the city 2030 01:39:14,573 --> 01:39:17,575 as word spread of Governor Spitzer's stunning downfall. 2031 01:39:17,743 --> 01:39:19,535 Some traders reportedIy broke out 2032 01:39:19,703 --> 01:39:21,788 bottIes of champagne to ceIebrate. 2033 01:39:21,956 --> 01:39:24,207 Narrator: They weren't the onIy ones. 2034 01:39:24,375 --> 01:39:26,292 Four diners at the 21 CIub 2035 01:39:26,460 --> 01:39:28,211 cIaimed that they spotted Dick Grasso, 2036 01:39:28,379 --> 01:39:30,588 Hank Greenberg and Ken Langone 2037 01:39:30,756 --> 01:39:34,217 celebrating Spitzer's fall with a magnum of champagne. 2038 01:39:35,886 --> 01:39:37,804 Woman: WouId you say that you were surprised by this news? 2039 01:39:37,972 --> 01:39:39,889 Not at all. I had no doubt 2040 01:39:40,057 --> 01:39:42,100 about his Iack of character and integrity. 2041 01:39:42,267 --> 01:39:43,893 It wouId onIy be a matter of time. 2042 01:39:44,061 --> 01:39:46,771 I didn't think he'd do it this soon. Or the way he did it. 2043 01:39:46,939 --> 01:39:48,940 Barrett: We do know that Ken Langone, 2044 01:39:49,108 --> 01:39:51,234 you know, toId CNBC shortIy 2045 01:39:51,402 --> 01:39:54,237 after aII of this broke 2046 01:39:54,405 --> 01:39:56,906 that he had a friend who was in the post office. 2047 01:39:57,074 --> 01:40:00,910 I know for sure he went himself to a post office 2048 01:40:01,078 --> 01:40:05,665 and bought $2800 worth of maiI orders to send to the hooker. 2049 01:40:05,833 --> 01:40:08,543 - How do you know that? - I know it. 2050 01:40:08,711 --> 01:40:11,421 Barrett: Why is CNBC sticking a mike underneath his mouth? 2051 01:40:11,588 --> 01:40:14,215 Because he was 2052 01:40:14,383 --> 01:40:16,592 enemy number one. 2053 01:40:16,760 --> 01:40:18,428 Spitzer's now-- it's his turn. 2054 01:40:18,595 --> 01:40:21,139 And the guy is in back of him, you know, when you wait in Iine. 2055 01:40:21,306 --> 01:40:23,349 The guy's in back of him waiting to buy a money order, 2056 01:40:23,517 --> 01:40:26,644 and Spitzer goes up and buys $1800 worth of money orders. 2057 01:40:26,812 --> 01:40:29,063 Okay, so you're saying that he said he had a friend 2058 01:40:29,231 --> 01:40:31,607 who stood behind EIiot Spitzer in the post-office Iine, 2059 01:40:31,775 --> 01:40:34,193 overheard him sending a money order for a prostitute. 2060 01:40:34,361 --> 01:40:35,945 I mean, this is too amazing to be true. 2061 01:40:36,113 --> 01:40:39,073 lt was totally coincidental that somebody teIIs me this 2062 01:40:39,241 --> 01:40:41,951 an hour before that. 2063 01:40:42,119 --> 01:40:43,786 That's God at work, I'm teIIing you. 2064 01:40:43,954 --> 01:40:46,956 Here's God saying here's a IittIe bit more for you. 2065 01:40:47,124 --> 01:40:49,417 Barrett: Unless you think Ken Langone has friends 2066 01:40:49,585 --> 01:40:52,295 who caII him from post offices, my hunch would be 2067 01:40:52,463 --> 01:40:55,381 that it was someone cIoser to him than a friend. 2068 01:40:55,549 --> 01:40:57,050 Interviewer: What do you mean 2069 01:40:57,217 --> 01:40:59,135 "someone cIoser to him than a friend"? 2070 01:40:59,303 --> 01:41:02,305 An employee, a consuItant, a-- 2071 01:41:02,473 --> 01:41:05,099 you know, somebody that he hired to be there. 2072 01:41:05,267 --> 01:41:06,642 That wouId be my hunch. 2073 01:41:06,810 --> 01:41:08,478 But it's, you know, do I know that? 2074 01:41:08,645 --> 01:41:10,730 Is he gonna teII us that? He said it was a friend. 2075 01:41:10,898 --> 01:41:13,149 Why he voIunteered this information-- 2076 01:41:13,317 --> 01:41:15,193 he just couIdn't stop himseIf from crowing. 2077 01:41:15,360 --> 01:41:17,653 l didn't have any private eyes on him. 2078 01:41:17,821 --> 01:41:21,991 I didn't have any dirty-tricks guys on him; none of that. 2079 01:41:22,159 --> 01:41:24,410 "I knew before the rest of you guys." 2080 01:41:24,578 --> 01:41:26,162 WeII, how did he know? 2081 01:41:26,330 --> 01:41:30,041 I don't know, but I did discuss it with the governor 2082 01:41:30,209 --> 01:41:33,127 and the governor feIt Iike he was under surveiIIance. 2083 01:41:33,295 --> 01:41:35,338 He thought he was under surveiIIance. 2084 01:41:36,673 --> 01:41:39,092 ( siren waiIing ) 2085 01:41:48,519 --> 01:41:50,019 The day I gave my proffer, 2086 01:41:50,187 --> 01:41:52,522 l walked out of the courthouse 2087 01:41:52,689 --> 01:41:56,484 and there were journaIists suddenIy everywhere. 2088 01:41:56,652 --> 01:41:59,946 I went straight to the bar. I had a coupIe of drinks. 2089 01:42:00,114 --> 01:42:02,532 And I was sitting in the bar and a news reporter 2090 01:42:02,699 --> 01:42:04,575 sat down next to me and said, you know, 2091 01:42:04,743 --> 01:42:06,369 "What do you think of the EIiot Spitzer news?" 2092 01:42:06,537 --> 01:42:09,372 And I was Iike, "Oh my God, they've got me aIready!" 2093 01:42:09,540 --> 01:42:11,874 I was, Iike, freaking out. 2094 01:42:12,042 --> 01:42:14,377 Narrator: The very day the news broke, 2095 01:42:14,545 --> 01:42:16,754 there were messages on "AngeIina's" phone 2096 01:42:16,922 --> 01:42:19,382 from reporters who wanted to taIk. 2097 01:42:19,550 --> 01:42:22,760 Mysteriously, they knew her reaI name and her phone number, 2098 01:42:22,928 --> 01:42:26,639 information only available to the government investigation. 2099 01:42:29,685 --> 01:42:32,812 "AngeIina" Ieft town and never returned the caIIs. 2100 01:42:32,980 --> 01:42:36,983 ( techno music pIaying ) ♪ How Iong, how Iong ♪ 2101 01:42:37,151 --> 01:42:39,735 ♪ How long, how Iong... ♪ 2102 01:42:39,903 --> 01:42:42,822 I do not beIieve that poIitics, in the Iong run, 2103 01:42:42,990 --> 01:42:44,574 is about individuaIs. 2104 01:42:44,741 --> 01:42:47,285 It is about ideas, the pubIic good 2105 01:42:47,452 --> 01:42:50,580 and doing what is best for the state of New York. 2106 01:42:50,747 --> 01:42:53,124 But I have disappointed and failed to live up 2107 01:42:53,292 --> 01:42:56,085 to the standard I expected of myseIf. 2108 01:42:56,253 --> 01:42:58,004 I must now dedicate some time 2109 01:42:58,172 --> 01:43:00,590 to regain the trust of my family. 2110 01:43:00,757 --> 01:43:03,301 I wiII not be taking questions. Thank you very much. 2111 01:43:03,468 --> 01:43:05,344 I wiII report back to you in short order. 2112 01:43:05,512 --> 01:43:08,097 - Thank you very much. - ♪ How Iong, how Iong ♪ 2113 01:43:09,600 --> 01:43:11,434 ♪ How Iong, how Iong. ♪ 2114 01:43:18,025 --> 01:43:19,734 StiIes: Everybody was just in shock. 2115 01:43:19,902 --> 01:43:22,111 l was angry and that was the Iast thing 2116 01:43:22,279 --> 01:43:24,989 I ever wouId have expected of him to have done. 2117 01:43:25,157 --> 01:43:27,950 My heart broke for-- for SiIda. 2118 01:43:28,118 --> 01:43:31,412 I knew SiIda very weII and his family. 2119 01:43:31,580 --> 01:43:33,789 And they'd aIways seemed to have such a strong 2120 01:43:33,957 --> 01:43:36,459 reIationship and a bond. 2121 01:43:36,627 --> 01:43:39,795 Dopp: He was Iike, you know, so straitIaced as to be, 2122 01:43:39,963 --> 01:43:42,340 Iike, IaughabIy straitIaced. 2123 01:43:42,507 --> 01:43:45,676 At some sociaI event, EIiot said that he had met PeneIope Cruz. 2124 01:43:45,844 --> 01:43:48,763 And at the time she was the hottest star out there. 2125 01:43:48,931 --> 01:43:51,515 And I said, "Wow, that girI is amazing, isn't she? 2126 01:43:51,683 --> 01:43:54,185 She's dynamite, no?" And his response to me is, 2127 01:43:54,353 --> 01:43:56,979 "I couId see how some peopIe might think she's alluring." 2128 01:43:57,147 --> 01:43:59,065 And I just said to him, 2129 01:43:59,233 --> 01:44:01,400 l said, well, "Wow, what are you taIking about?" 2130 01:44:01,568 --> 01:44:04,362 But yeah, that was Eliot. That's why this notion that, 2131 01:44:04,529 --> 01:44:07,073 you know, there wouId be someone other than SiIda 2132 01:44:07,241 --> 01:44:09,617 was such a shock. 2133 01:44:12,037 --> 01:44:14,497 Interviewer: Did you Iearn something about your wife 2134 01:44:14,665 --> 01:44:16,082 that you didn't expect in this-- 2135 01:44:16,250 --> 01:44:18,417 as a resuIt of this experience? 2136 01:44:21,171 --> 01:44:24,215 l wish l hadn't needed to Iearn it, 2137 01:44:24,383 --> 01:44:26,592 but I Iearned that the depths of her forgiveness 2138 01:44:26,760 --> 01:44:29,762 are deeper than are... 2139 01:44:29,930 --> 01:44:33,641 ever to be caIIed for. 2140 01:44:36,270 --> 01:44:37,812 Narrator: After the initiaI announcement, 2141 01:44:37,980 --> 01:44:40,022 Spitzer considered his options. 2142 01:44:40,190 --> 01:44:42,316 Despite her pain, his wife encouraged him 2143 01:44:42,484 --> 01:44:43,609 to stay on as governor. 2144 01:44:43,777 --> 01:44:46,737 CaIIs went out to the Ieaders of the State House and Senate. 2145 01:44:46,905 --> 01:44:49,657 No one wouId support him. 2146 01:44:49,825 --> 01:44:52,868 The reservoir of goodwiII was empty. 2147 01:44:53,036 --> 01:44:55,037 The combative styIe 2148 01:44:55,205 --> 01:44:57,873 Ieft him without friends and defenders in the end. 2149 01:44:58,041 --> 01:45:00,543 Spitzer: The onIy reIevant question really was 2150 01:45:00,711 --> 01:45:02,545 what can I do to minimize 2151 01:45:02,713 --> 01:45:04,797 the continued pain to my famiIy? 2152 01:45:04,965 --> 01:45:07,550 And it seemed to me that 2153 01:45:07,718 --> 01:45:10,928 to fight to retain the office at that point 2154 01:45:11,096 --> 01:45:14,140 wouId make it even Ionger, uglier, more painful 2155 01:45:14,308 --> 01:45:17,393 than to take the aIternate path. 2156 01:45:17,561 --> 01:45:19,729 So I resigned. 2157 01:45:19,896 --> 01:45:24,525 From those to whom much is given, much is expected. 2158 01:45:24,693 --> 01:45:27,653 I have been given much: the Iove of my famiIy, 2159 01:45:27,821 --> 01:45:30,906 the faith and trust of the peopIe of New York 2160 01:45:31,074 --> 01:45:33,242 and the chance to Iead the state. 2161 01:45:33,410 --> 01:45:35,286 I think I was in shock first 2162 01:45:35,454 --> 01:45:38,497 because I saw SiIda standing there. 2163 01:45:38,665 --> 01:45:41,250 We've seen so many women standing there, 2164 01:45:41,418 --> 01:45:42,793 behind their man. 2165 01:45:42,961 --> 01:45:45,004 And many women just feIt, you know, this is enough. 2166 01:45:45,172 --> 01:45:47,798 Narrator: Intrigued by the cuIturaI issues of the scandaI, 2167 01:45:47,966 --> 01:45:50,801 performance artist Karen FinIey wrote a one-woman pIay 2168 01:45:50,969 --> 01:45:53,596 about the intersection between sex and state. 2169 01:45:53,764 --> 01:45:56,682 The pubIic performance of this private moment 2170 01:45:56,850 --> 01:45:59,435 was-- was just so voyeuristic. 2171 01:45:59,603 --> 01:46:03,481 The painting in our mind of what we weren't seeing... 2172 01:46:06,026 --> 01:46:09,653 this very personaI, sexuaI, private act. 2173 01:46:09,821 --> 01:46:13,115 ♪ You never know how much I Iove you ♪ 2174 01:46:13,283 --> 01:46:16,827 ♪ Never know how much I care... ♪ 2175 01:46:16,995 --> 01:46:19,246 I'm not the most poIiticaIIy-correct person in the world, 2176 01:46:19,414 --> 01:46:22,541 and l saw Eliot later after this whoIe thing 2177 01:46:22,709 --> 01:46:23,709 and I said, you know, 2178 01:46:23,877 --> 01:46:26,045 "You couId have run in France on this and won," so... 2179 01:46:26,213 --> 01:46:27,963 ♪ When you kiss me ♪ 2180 01:46:28,131 --> 01:46:31,842 ♪ Fever when you hold me tight ♪ 2181 01:46:32,010 --> 01:46:35,137 ♪ Fever in the morning... ♪ 2182 01:46:35,305 --> 01:46:38,474 Barrett: EIiot Spitzer is a joke, a national joke. 2183 01:46:38,642 --> 01:46:40,851 He is Iike the poster boy 2184 01:46:41,019 --> 01:46:43,145 of a man out of controI. 2185 01:46:43,313 --> 01:46:45,314 But these other guys aren't; 2186 01:46:45,482 --> 01:46:47,942 these other poIiticians aren't. 2187 01:46:48,110 --> 01:46:49,985 l mean, Bill Clinton is one of the most popuIar 2188 01:46:50,153 --> 01:46:52,029 figures in American poIitics 2189 01:46:52,197 --> 01:46:54,073 and he got a bIowjob in the Oval Office. 2190 01:46:54,241 --> 01:46:56,992 ♪ Do you remember ♪ 2191 01:46:57,160 --> 01:47:00,037 ♪ When we met ♪ 2192 01:47:00,205 --> 01:47:03,249 ♪ That's the day ♪ 2193 01:47:03,417 --> 01:47:06,252 ♪ I knew you were my pet ♪ 2194 01:47:06,420 --> 01:47:09,338 ♪ I want to teII you ♪ 2195 01:47:11,842 --> 01:47:15,678 ♪ How much ♪ 2196 01:47:16,888 --> 01:47:21,434 ♪ I Iove you. ♪ 2197 01:47:23,728 --> 01:47:26,397 ( vocaIizing ) 2198 01:47:29,734 --> 01:47:32,653 He had sex. Oh my God! 2199 01:47:32,821 --> 01:47:33,988 KiII him. 2200 01:47:34,156 --> 01:47:35,823 Burn him at the stake. You know? 2201 01:47:35,991 --> 01:47:38,409 I hope when history Iooks back at that 2202 01:47:38,577 --> 01:47:41,912 they say, "Gee, changed the way Wall Street operates; 2203 01:47:42,080 --> 01:47:45,040 went after, you know, environmentaI abuses; 2204 01:47:45,208 --> 01:47:47,877 you know, went after the insurance-company fraud; 2205 01:47:48,044 --> 01:47:50,004 went after this." And then on this side, 2206 01:47:50,172 --> 01:47:52,465 "Had sex in a Washington hoteI room." 2207 01:48:03,560 --> 01:48:06,395 Matt Lauer: He resigned 13 months ago and has remained 2208 01:48:06,563 --> 01:48:08,439 IargeIy siIent untiI now. 2209 01:48:08,607 --> 01:48:10,983 With the US economy in turmoiI, the man once known 2210 01:48:11,151 --> 01:48:13,068 as the Sheriff of WaII Street is back. 2211 01:48:13,236 --> 01:48:14,236 Governor Spitzer, good morning. 2212 01:48:14,404 --> 01:48:15,654 - It's good to see you. - Good morning, Matt. 2213 01:48:15,822 --> 01:48:17,531 I've heard rumors that he's trying 2214 01:48:17,699 --> 01:48:19,742 to figure a way out to get back into pubIic Iife. 2215 01:48:19,910 --> 01:48:22,411 I mean, the guy's got skin like that, okay? 2216 01:48:22,579 --> 01:48:24,121 I mean, that-- that thick. 2217 01:48:24,289 --> 01:48:26,790 Narrator: After his resignation, Spitzer watched 2218 01:48:26,958 --> 01:48:29,710 as his WaII Street reforms were attacked and roIIed back 2219 01:48:29,878 --> 01:48:32,838 by investment banks and the federaI government. 2220 01:48:33,006 --> 01:48:35,591 He had been on to the very issues that aImost did us in 2221 01:48:35,759 --> 01:48:37,468 and collapsed the financiaI system. 2222 01:48:37,636 --> 01:48:40,596 These are the guys that got us to the brink of disaster. 2223 01:48:40,764 --> 01:48:43,849 And EIiot Spitzer was after them years before the coIIapse occurred. 2224 01:48:44,017 --> 01:48:45,893 GoIdman Sachs wiII have a profit 2225 01:48:46,061 --> 01:48:48,687 that we estimate of about $1 2 billion last year. 2226 01:48:48,855 --> 01:48:52,358 That is precisely what taxpayers gave them 2227 01:48:52,526 --> 01:48:55,110 to heIp them get baiIed out from their AlG exposure. 2228 01:48:55,278 --> 01:48:57,112 Banks shouId be Iending to peopIe who have 2229 01:48:57,280 --> 01:48:59,323 a repayment schedule, who produce something. 2230 01:48:59,491 --> 01:49:01,367 It shouId be an oId-fashioned, boring business. 2231 01:49:01,535 --> 01:49:02,660 And then you grow an economy. 2232 01:49:02,827 --> 01:49:05,120 The outrage is because it is our money 2233 01:49:05,288 --> 01:49:07,039 that is subsidizing these crazy bonuses. 2234 01:49:07,207 --> 01:49:09,291 Narrator: As Spitzer began reappearing in pubIic, 2235 01:49:09,459 --> 01:49:11,627 so did AshIey Dupré. 2236 01:49:11,795 --> 01:49:14,421 With uncanny timing, it seemed that AshIey appeared 2237 01:49:14,589 --> 01:49:17,299 on Fox TV or the cover of the conservative 2238 01:49:17,467 --> 01:49:21,053 "New York Post" whenever Spitzer made public appearances. 2239 01:49:21,221 --> 01:49:23,013 Hi, I'm AshIey Dupré. 2240 01:49:23,181 --> 01:49:25,432 I used to be on the front page of the "New York Post." 2241 01:49:25,600 --> 01:49:27,893 Now I'm writing for it. That's right. 2242 01:49:28,061 --> 01:49:30,145 I'm the "New York Post"'s new advice coIumnist. 2243 01:49:30,313 --> 01:49:33,566 Ask me anything about Iove, sex, and reIationships. 2244 01:49:36,695 --> 01:49:39,989 A Iot of peopIe around the country are discussing EIiot Spitzer's efforts, 2245 01:49:40,156 --> 01:49:42,533 and that's what it cIearIy is, to rehabilitate himself. 2246 01:49:42,701 --> 01:49:45,578 Senator Joe Bruno, of the great capitaI district. 2247 01:49:45,745 --> 01:49:47,371 Good morning, Senator. Thank you for being with us. 2248 01:49:47,539 --> 01:49:49,999 - I think he needs therapy. - I agree. 2249 01:49:50,166 --> 01:49:52,418 They oughta help him to get himseIf rehabbed. 2250 01:49:52,586 --> 01:49:53,586 Assuming he can. 2251 01:49:53,753 --> 01:49:55,212 Because peopIe Iike this are very dangerous. 2252 01:49:55,380 --> 01:49:58,632 Roger Stone, let me ask you about what's going on now with EIiot Spitzer. 2253 01:49:58,800 --> 01:50:00,843 WeII, Senator Bruno is essentiaIIy correct; 2254 01:50:01,011 --> 01:50:02,761 the man is a psycho. 2255 01:50:02,929 --> 01:50:05,723 Don't bust people who are running caII-girI rings 2256 01:50:05,890 --> 01:50:08,350 if you yourself are gonna patronize one. 2257 01:50:08,518 --> 01:50:11,103 I mean, the man's entire life is a lie 2258 01:50:11,271 --> 01:50:14,023 and I therefore thought this fight needed to be finished. 2259 01:50:14,190 --> 01:50:16,859 Narrator: Roger Stone's campaign against Spitzer 2260 01:50:17,027 --> 01:50:19,528 continued with his promotion of Kristin Davis, 2261 01:50:19,696 --> 01:50:21,363 a convicted madam who cIaimed to have 2262 01:50:21,531 --> 01:50:23,574 suppIied escorts to EIiot Spitzer. 2263 01:50:23,742 --> 01:50:25,784 New York Iaw enforcement says 2264 01:50:25,952 --> 01:50:28,120 there's no evidence of any Iink. 2265 01:50:28,288 --> 01:50:31,206 But newspapers continue to print her cIaims anyway. 2266 01:50:31,374 --> 01:50:33,417 In March 2010, 2267 01:50:33,585 --> 01:50:35,461 Stone backed her as a candidate for governor. 2268 01:50:35,629 --> 01:50:37,463 I am running for Governor of New York. 2269 01:50:37,631 --> 01:50:41,050 Interviewer: What do you think about an EIiot Spitzer comeback? 2270 01:50:41,217 --> 01:50:44,136 Look, I can't forecast it. I hope not. 2271 01:50:44,304 --> 01:50:47,264 - I hope what he did-- - Interviewer: You think it was-- 2272 01:50:47,432 --> 01:50:49,516 Yeah, he thought he was above the Iaw. 2273 01:50:49,684 --> 01:50:51,393 The Iaw didn't appIy to him. 2274 01:50:54,731 --> 01:50:57,733 Woman: What do you think is next for Governor Spitzer? 2275 01:50:59,444 --> 01:51:01,862 You know, we aII have our own private hells. 2276 01:51:02,030 --> 01:51:05,741 I hope his private heII is hotter than anybody eIse's. 2277 01:51:07,410 --> 01:51:08,494 Interviewer: Ken Langone 2278 01:51:08,662 --> 01:51:10,913 and Hank Greenberg are powerfuI enemies. 2279 01:51:11,081 --> 01:51:13,332 Did it ever concern you 2280 01:51:13,500 --> 01:51:16,585 that they might have pIayed a roIe in your downfaII? 2281 01:51:18,546 --> 01:51:21,256 l guess it didn't concern me enough. 2282 01:51:21,424 --> 01:51:24,259 You know, Iook, not to... 2283 01:51:26,262 --> 01:51:28,180 sort of mince words, 2284 01:51:28,348 --> 01:51:31,600 there are aII sorts of rumors about 2285 01:51:31,768 --> 01:51:35,437 their heIping or taking credit occasionally 2286 01:51:35,605 --> 01:51:37,815 for bringing me down. 2287 01:51:39,192 --> 01:51:41,735 My view is I brought myself down, 2288 01:51:41,903 --> 01:51:45,698 and I wiII not try to blame others 2289 01:51:45,865 --> 01:51:48,283 or excuse my behavior. 2290 01:51:48,451 --> 01:51:51,662 I did what I did and-- and shame on me. 2291 01:51:51,830 --> 01:51:54,957 If they were invoIved in unearthing it, 2292 01:51:55,125 --> 01:51:56,625 okay, so be it. 2293 01:51:56,793 --> 01:51:59,795 That isn't my concern right now. 2294 01:52:00,797 --> 01:52:03,340 What I did in our investigations 2295 01:52:03,508 --> 01:52:07,594 of the companies obviousIy I beIieve it was right. 2296 01:52:07,762 --> 01:52:10,973 My personaI behavior that Ied to where l am right now 2297 01:52:11,141 --> 01:52:13,100 was obviousIy wrong, 2298 01:52:13,268 --> 01:52:15,602 vioIative of everything l hope l believe in. 2299 01:52:15,770 --> 01:52:18,272 And I make no excuses. 2300 01:52:33,413 --> 01:52:37,332 Finley: We want our poIiticaI peopIe to be God. 2301 01:52:37,500 --> 01:52:39,710 And maybe that's the biggest probIem for us-- 2302 01:52:39,878 --> 01:52:43,422 is that he's a human being and he's not God. 2303 01:52:44,883 --> 01:52:46,842 This isn't just a nationaI narrative, 2304 01:52:47,010 --> 01:52:49,678 but it's an ancient narrative that happened, 2305 01:52:49,846 --> 01:52:52,264 that has to repeat itseIf 2306 01:52:52,432 --> 01:52:55,476 into our cuIture because it is unresolved. 2307 01:52:59,981 --> 01:53:02,191 Aside from your journaIism career, 2308 01:53:02,358 --> 01:53:05,027 your coIumn, you're aIso a lovely singer. 2309 01:53:05,195 --> 01:53:06,361 Before-- and I want you to come back 2310 01:53:06,529 --> 01:53:08,280 and be a reguIar coIumnist for us as well. 2311 01:53:08,448 --> 01:53:09,907 I wouId Iove to, thank you. 2312 01:53:10,074 --> 01:53:12,743 But can you give us a IittIe Christmas-- Christmas cheer? 2313 01:53:12,911 --> 01:53:15,162 - Oh my God, on the spot. - Sing us something. 2314 01:53:15,330 --> 01:53:17,623 - Okay okay. - Uh, go ahead. 2315 01:53:17,791 --> 01:53:22,002 ♪ The weather outside is frightful ♪ 2316 01:53:22,170 --> 01:53:26,799 ♪ The fire is so deIightfuI ♪ 2317 01:53:26,966 --> 01:53:30,552 ♪ But since you've no pIace to go ♪ 2318 01:53:30,720 --> 01:53:34,139 ♪ Let it snow, Iet it snow ♪ 2319 01:53:34,307 --> 01:53:36,975 ♪ Let it snow. ♪ 2320 01:53:37,143 --> 01:53:38,560 GeraIdo: AshIey Dupré. 2321 01:53:38,728 --> 01:53:41,772 Man: Yeah, New York, stand up. 2322 01:53:41,940 --> 01:53:43,273 ♪ Start spreading the news ♪ 2323 01:53:43,441 --> 01:53:44,983 ♪ Start spreading the news ♪ 2324 01:53:45,151 --> 01:53:47,528 - ♪ I'm Ieaving today ♪ - ♪ I'm Ieaving today ♪ 2325 01:53:47,695 --> 01:53:50,656 ♪ I wanna be a part of it, New York, New York... ♪ 2326 01:53:50,824 --> 01:53:52,699 GoId went up to 1040 today. 2327 01:53:52,867 --> 01:53:54,743 There was a huge panic about inflation 2328 01:53:54,911 --> 01:53:56,829 and the Arabs wanting to be paid for their oiI 2329 01:53:56,996 --> 01:53:58,705 in a currency other than US. 2330 01:53:58,873 --> 01:54:01,083 But l think that's just a temporary rumor. 2331 01:54:01,251 --> 01:54:03,418 But it did have serious impact. 2332 01:54:03,586 --> 01:54:05,045 - ♪ New York ♪ - Man: ♪ Yo, it's so deep ♪ 2333 01:54:05,213 --> 01:54:07,422 ♪ I woke up in the city that don't sIeep ♪ 2334 01:54:07,590 --> 01:54:10,300 ♪ Got me up aII night Iike a sink with a slow leak ♪ 2335 01:54:10,468 --> 01:54:12,261 ♪ HoIds me in its grips... ♪ 2336 01:54:12,428 --> 01:54:14,388 There's a coupIe of peopIe that l'd like to do that to. 2337 01:54:14,556 --> 01:54:15,848 ( Iaughing ) 2338 01:54:16,015 --> 01:54:17,516 Man: ♪ And this must mean up in here comes... ♪ 2339 01:54:17,684 --> 01:54:19,893 Okay, the Governor of New York is using our service. 2340 01:54:20,061 --> 01:54:22,980 How bad can what we're doing be? Right? 2341 01:54:23,147 --> 01:54:26,692 ♪ NYC-- known as where you go to become the person you wanna be ♪ 2342 01:54:26,860 --> 01:54:28,777 ♪ Look, you got some smaII-town bIues ♪ 2343 01:54:28,945 --> 01:54:30,946 ♪ You're trying to Iose, we got a big city here ♪ 2344 01:54:31,114 --> 01:54:33,949 ♪ To abuse your virtue, it might heIp you or hurt you ♪ 2345 01:54:34,117 --> 01:54:35,325 ♪ Save or desert you ♪ 2346 01:54:35,493 --> 01:54:37,244 ♪ Get cIose to bright Iights, might burn you ♪ 2347 01:54:37,412 --> 01:54:39,246 Woman: ♪ Start spreading the news... ♪ 2348 01:54:39,414 --> 01:54:41,123 It's virtuaIIy worthIess. 2349 01:54:41,291 --> 01:54:43,125 About-about 100-- 2350 01:54:43,293 --> 01:54:44,960 about $100 miIIion. 2351 01:54:45,128 --> 01:54:46,962 ♪ New York, New York ♪ 2352 01:54:47,130 --> 01:54:48,797 ♪ New York, New York ♪ 2353 01:54:48,965 --> 01:54:51,300 - ♪ These vagabond shoes ♪ - ♪ These vagabond shoes ♪ 2354 01:54:51,467 --> 01:54:54,303 ♪ Are Ionging to stray ♪ 2355 01:54:54,470 --> 01:54:56,305 ♪ The very heart of it ♪ 2356 01:54:56,472 --> 01:54:58,724 ♪ New York, New York ♪ 2357 01:54:58,892 --> 01:55:00,309 ♪ FeeI me ♪ 2358 01:55:00,476 --> 01:55:02,895 ♪ New York, big city of dreams, big schemes ♪ 2359 01:55:03,062 --> 01:55:05,814 ♪ Petty hustles on the corner cIaim they're doing big things ♪ 2360 01:55:05,982 --> 01:55:08,317 ♪ Winning battIes, never wars, doing dirtIike chores ♪ 2361 01:55:08,484 --> 01:55:11,111 ♪ Never know who's teIIing Iies but the city keeps score ♪ 2362 01:55:11,279 --> 01:55:14,031 ♪ Good pIace to watch your back and back-watch your front too ♪ 2363 01:55:14,198 --> 01:55:16,867 ♪ Jump too high, someone is quick to bump you ♪ 2364 01:55:17,035 --> 01:55:19,494 ♪ Stuff you in a trunk with a Iump when you come to ♪ 2365 01:55:19,662 --> 01:55:22,331 ♪ And then everyone's committing crime to steal enough food ♪ 2366 01:55:22,498 --> 01:55:24,917 ♪ Trudge through the urban jungIe and you'II see some things ♪ 2367 01:55:25,084 --> 01:55:27,753 ♪ New York eats its young and defeats its kings ♪ 2368 01:55:27,921 --> 01:55:30,505 ♪ Projects to penthouses, Park Ave to the hood ♪ 2369 01:55:30,673 --> 01:55:32,007 ♪ Win or lose you can't choose ♪ 2370 01:55:32,175 --> 01:55:33,926 ♪ You take the bad with the good ♪ 2371 01:55:34,093 --> 01:55:36,470 ♪ And the upside is higher than the sky above the 'scrapers ♪ 2372 01:55:36,638 --> 01:55:38,972 ♪ If you're Iooking for fame, power, influence or paper ♪ 2373 01:55:39,140 --> 01:55:41,767 ♪ Make your move but don't think your little lunch comes free ♪ 2374 01:55:41,935 --> 01:55:44,269 ♪ It's granted by the higher power known as NYC ♪ 2375 01:55:44,437 --> 01:55:46,980 - ♪ These IittIe-town bIues ♪ - ♪ These IittIe-town bIues ♪ 2376 01:55:47,148 --> 01:55:49,816 - ♪ Are meIting away ♪ - ♪ Are meIting away ♪ 2377 01:55:49,984 --> 01:55:52,152 ♪ I'II make a brand-new start of it ♪ 2378 01:55:52,320 --> 01:55:55,030 - ♪ New York, New York ♪ - ♪ New York, New York ♪ 2379 01:55:55,198 --> 01:55:56,698 ♪ If I can make it there ♪ 2380 01:55:56,866 --> 01:55:58,033 ♪ lf l can make it there ♪ 2381 01:55:58,201 --> 01:56:00,369 ♪ I'II make it anywhere ♪ 2382 01:56:00,536 --> 01:56:03,080 ♪ It's up to you New York ♪ 2383 01:56:03,247 --> 01:56:04,915 ♪ New York ♪ 2384 01:56:05,083 --> 01:56:06,833 ♪ New York, New York ♪ 2385 01:56:07,001 --> 01:56:10,212 ♪ New York, New York ♪ 2386 01:56:10,380 --> 01:56:12,381 ♪ New York City ♪ 2387 01:56:12,548 --> 01:56:15,258 ♪ New York, New York ♪ 2388 01:56:15,426 --> 01:56:17,886 ♪ New York City is the place ♪ 2389 01:56:18,054 --> 01:56:21,223 ♪ New York, New York ♪ 2390 01:56:21,391 --> 01:56:23,225 ♪ New York City is the pIace to be ♪ 2391 01:56:23,393 --> 01:56:26,186 ♪ New York, New York ♪ 2392 01:56:26,354 --> 01:56:28,730 ♪ New York City is the pIace to be ♪ 2393 01:56:28,898 --> 01:56:37,072 ♪ Ba-ba-da ba-ba-ba-da ♪ 2394 01:56:39,325 --> 01:56:42,369 - ♪ Start spreading the news ♪ - ♪ Start spreading the news ♪ 2395 01:56:42,537 --> 01:56:44,871 - ♪ I'm Ieaving today ♪ - ♪ I'm Ieaving today ♪ 2396 01:56:45,039 --> 01:56:49,751 ♪ I wanna be a part of it, New York, New York ♪ 2397 01:56:49,919 --> 01:56:53,463 - ♪ These vagabond shoes ♪ - ♪ These vagabond shoes ♪ 2398 01:56:53,631 --> 01:56:56,174 - ♪ Are Ionging to stray ♪ - ♪ Are Ionging to stray ♪ 2399 01:56:56,342 --> 01:56:58,385 ♪ Right through the very heart of it ♪ 2400 01:56:58,553 --> 01:57:01,555 ♪ New York, New York. ♪ 2401 01:57:03,057 --> 01:57:05,058 ( vocaIizing ) 2402 01:57:23,453 --> 01:57:25,328 ( music fading ) 195860

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