What Spitzer Might Do As Comptroller
Posted at 9:45 a.m. on July 11, 2013
While Eliot Spitzer’s return to politics with a run for New York City Comptroller has generated more than its fair share of political discussion, the Washington Post points out an interesting policy wrinkle that may explain why Spitzer set his sights on the largely obscure Comptroller position.
“In December, after the school massacre in Newtown, Conn., Spitzer wrote a column in the online publication Slate arguing that pension funds should use their investing clout to pressure corporations such as gunmakers to act in the public interest.”
Said Spitzer in an interview, “Ownership trumps regulation… And yet we haven’t seen shareholder activism. We have not seen shareholders stand up and collectively say: ‘Wait a minute. We own the companies. Let’s see if we can not just rein in [chief executive] compensation, which is a piece of it, but also more importantly, make wise decisions about management and participation.'”