New York Governor Eliot Spitzer’s public statement in response to his alleged involvement in a prostitution ring and his patronage:
Good afternoon.
For the past nine years, eight years as attorney general, and one as governor, I have tried to uphold a vision of progressive politics that would rebuild New York and create opportunity for all. We sought to bring real change to New York and that will continue.
Today I want to briefly address a private matter. I have acted in a way that violates my obligations to my family and violates …

Since my current work is in new media and social networking, I am keenly interested in the turbulence facing the newspaper industry. Clients, ranging from Fortune 2000 companies to small innovative startups, come to my team at SocialOptimize to gain an understanding of the new media landscape and to develop an actionable strategy for building a meaningful presence in social networks. They ask about their traditional marketing budgets and I tell them that we will see the disappearance of many old model newspaper, radio, and television companies as they struggle …

Macro

More pain in the housing market anticipated as some homeowners find themselves “underwater” or owing more on their homes than what their homes are worth on the market. According to Mark Zandi at Economy.com (MCO), 10% of all homeowners currently face this negative equity situation. Zandi also sees home prices falling 20% as the economy worsens into a recession. Zandi could be underestimating the damage; homeowners abandon their homes and mortgages at a high rate when they enter negative territory on their equity. Foreclosures and abandoned mortgages exacerbate the problem …

 
Macro

Economic Indicators site to be shut down by U.S. Department of Commerce: Say goodbye to a very useful online resource due to “budgetary constraints” – lame excuse. The cost of administering a good website has diminished drastically. Enlightened government bureaucrats will still collect the data, but they don’t want to share it with private citizens.

William Ackman’s statement before Congress – The State of the Bond Insurance Industry: Interesting reading courtesy of fund manager who presciently shorted the real estate industry before the sub-prime meltdown became the crisis du jour.

Detroit home …