This Wall Street Journal ($) article reports that New York AG (“attorney general” or “aspiring governor,” take your pick) Eliot Spitzer is shocked, yes, shocked that he and his office may be subjected to discovery in the civil lawsuits that Spitzer is pursuing against former AIG chairman and CEO Maurice “Hank” Greenberg and former NYSE chairman and CEO, Richard Grasso:
The Journal reports that a subject of the defense’s quite reasonable discovery requests in both the Grasso and Greenberg lawsuits involve internal reviews that the NYSE and AIG conducted after both companies had been pressured by Spitzer to oust the executives. Grasso and Greenberg contend that the internal reviews — which mirror Spitzer’s cases against the two men — were shams because the companies had incentives to blame past managers to curry favor with the Lord of Regulation:
“Mr. Spitzer was personally involved in pressuring a firm to help the AG’s office try to make a case against Grasso, and he ought to be willing to explain that,” says [Gerson] Zweifach, [a] Grasso lawyer.
“We have many reasons to believe the AG colluded with AIG to concoct an investigation that would justify the forced retirement of Mr. Greenberg and baseless ‘fraud’ accusation made by the AG on national TV,” said Nicholas A. Gravante, Jr., an attorney for Mr. Greenberg with Boies, Schiller & Flexner LLP. “We intend to use every available legal option to force the AG to turn over all evidence to which Mr. Greenberg is entitled.”
H’mm. I wonder whether Spitzer’s dockside bully tactics will work on a civil court judge?