Sam Antar knows an inequitable situation when he sees one: Memo to SEC: If Weiner and Spitzer can run for office again, why am I still banned from being an officer or director of a public company? — Sam E. Antar (@SamAntar) July 23, 2013 A regular reader of GC wondered to us: "In Spitzer's […]
Noted john and co-star of Parker & Spitzer, Eliot Spitzer, has a few choice words for everyone out there that helped facilitate all the corporate malfeasance from the last few years. Specifically, when your clients want to do something that you know is sketch and you gave them a pass before? That shit has to stop. And not with the attitude of “pretty please with sugar on top – no – Sugar, the brunette from last time.” For real, this shit has to stop.
“Facilitators — and we’re all part of it — lawyers, investment bankers and accountants. Our purpose is to be hired to justify the actions that are being taken by CEOs and others to run their businesses, and over time what has happened is that we have lost our backbone. We have lost our willingness to stand up and say, ‘Stop.’ There are a bunch of reasons for this. I’ve been in private practice and I know how those pressures are. We don’t like to look at our clients and say, ‘No, you can’t do that. I’m not writing an opinion letter that justifies that valuation.’ We don’t like to write a letter to the CEO saying, ‘No, you don’t deserve a 50 percent bonus.’ Those things don’t happen very often because we succumb to the pressures of our clients.”