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What I'm most proud of
as attorney general

is that we were willing to walk
into the buzz saw

of some very powerful interests
and never back down.

Look, I had a simple rule:

I never asked if a case
was popular or unpopular,

never asked
if it was big or small,

hard or easy;

I simply asked if it was
right or wrong.

Man: I will never forget
that moment.

Woman:
I was dumbfounded.

Man:
I can't say I was sorry.

♪ Start spreading the news... ♪

Man: It was like,
"You've gotta be kidding."

♪ I want to be a part of it... ♪

( siren blares )

♪ New York, New York... ♪

Man: He was going to be
our first Jewish president.

♪ These vagabond shoes... ♪

Woman:
There was corporate corruption;

greed had seemed to hit its peak;

and he was fighting all of that.

♪ Right through
the very heart of it ♪

♪ New York, New York ♪

♪ I want to wake up in a city ♪

♪ That doesn't sleep ♪

♪ To find I'm cream of the crop ♪

♪ On top of the heap ♪

♪ These little town blues ♪

♪ Are melting away ♪

♪ I'll make a brand-new ♪

♪ Start of it... ♪

Narrator: On the face of it,
the fall of Governor Spitzer

was just another sex scandal.

Was it a private matter?

Or a public reckoning?

♪ Oh New York... ♪

Narrator:
And what of the timing?

A few months
after his resignation,

the reckless banks
Spitzer had policed

brought the economic system
close to failure.

♪ I'll make it anywhere ♪

♪ New York... ♪

Everyone agreed on one thing:

no one expected him
to go down like he did.

♪ New York. ♪

It is to a certain extent
a very classic tale, perhaps,

of an individual
who from the exterior

appears to have been
captured by hubris;

a sense of standing for virtues

and, I think, working very hard

to articulate and work

towards establishing
rules and boundaries,

but then, himself,
slipping and failing.

And this goes back to the days
of Greek mythology.

This is not...
It's not a new story.

Hulbert Waldroup:
In New York, everyone...

Everyone's like some sort
of an animal, you know?

They're some sort of an animal.

They're hungry
to make more money,

hungry to get more sex,

to date a prettier girl
or a richer guy.

Just... just hungry, just greedy,

just animals.

This Chinese philosopher
said that

human beings are a hybrid

between animals and angels,

that we're capable
of animalistic behavior.

Consider sex and war.

But we're capable of doing
beautiful things too, like art,

music or making love, you know?

What... I was just
contemplating that.

I was like,
"Wow, I kinda dig that.

We're half angel, half animal."

Good afternoon.

Over 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 that violates my, or any,

sense of right and wrong.

Narrator: Spitzer's wrong turn
surprised everyone,

because he had a reputation
as Mr. Right.

As Attorney General of New York

he was known as
the Sheriff of Wall Street,

someone determined
to take on powerful interests

on behalf of those
who couldn't afford to.

Lloyd Constantine:
This was a guy who understood

that he had been a member
of the lucky-sperm club.

He was really smart.
He was wealthy.

So he had gotten
a lot of breaks in life,

and he wanted to-to...
To use that,

you know, to better the world.

Narrator: Spitzer's father Bernard
was a self-made real-estate tycoon

who sent his son
to an elite prep school,

Princeton
and Harvard Law School,

where he met his wife-to-be
Silda Wall.

His father had pushed him
to succeed.

We debated issues around
the dining-room table.

And so I guess it was more
of a symposium

than a touchy-feely environment.

We were taught not to embrace

a notion, a principle, a fact

merely because somebody
had asserted it.

Challenge them, push back...

That was part
of the conversation.

Narrator:
For a real-estate family,

Monopoly takes on
a special edge.

Sure, it's a game.

But it's also a way for a father
to teach his son

some lessons
about money and power.

Look, I don't want the impression
to be that he wasn't...

He was devoid of compassion,
but it is true

he foreclosed on me
in a Monopoly game.

Narrator: Bernard Spitzer
tricked his son into selling

Boardwalk and Park Place
for cheap,

then wiped him out when he landed
on a built-up Boardwalk.

The lesson:
don't trust anyone.

But I think really
what he was trying to do

was teach me
how the market worked.

And Monopoly's a fun game,
but I had overbuilt

and overextended and he said,
"I'm sorry, that's it.

There are consequences
and you've learned a lesson."

Interviewer: What was
your response at the time?

Oh, I cried.
I think I was about 10.

I mean, I was a kid.

It was... it was... it was no fun.

I wanted to... I wanted
to be bailed out.

Constantine: Bernie is a guy
who judges people.

That's a tough thing for a kid.

I do remember him watching
Eliot and me play tennis.

And after one particular serve
and volley of mine, which I won,

he gave me that victory sign,
and he said,

"Yeah, that's exactly
what to do to him."

Eliot's strategy is to stick
with his core game:

hard shots, serve and volley.

Spitzer:
But my reflexes are good.

Yeah!

I love to get in to net.

Good shot.

As I say, the game I used to have
keeps getting better.

Narrator:
Eliot Spitzer's notion

of public service was like
his tennis game:

attack attack attack.

Good morning,
and thank you for coming.

Narrator: As attorney general,
Spitzer saw an opportunity

to do more than enforce the law.

He wanted to use the law
to change the way society worked.

He sued coal-fire plants in Ohio

for causing pollution in New York.

He sued General Electric
for dumping

poisonous waste
into the Hudson River.

He uncovered fraud
in the pharmaceutical industry,

where pill makers hid
the damage done by their drugs,

fought for minimum wage
for deliverymen

and forced upscale restaurants
to hire more women.

He would take them all on,
because no one else would.

Peter Elkind:
There's a reason why Eliot Spitzer

became famous as New York's
attorney general.

The job had been
a second-tier position.

It had been focused on
regulating crooked car dealers.

And Eliot Spitzer
focused on Wall Street,

on the biggest guys around.

And Spitzer's premise,
which was right,

was that Wall Street
can't be left to regulate itself

or terrible things will happen.

When I assumed office,
which was January of 1999,

we were in a period
where Wall Street

and investment bankers were,
to use Tom Wolfe's

great phrase,
masters of the universe.

Narrator:
To protect the average citizen,

Spitzer was willing to prosecute
bankers and CEOs

like any other lawbreakers.

Spitzer: In the course
of this investigation,

my office developed evidence
indicating that analysts

gave misleading advice

that helped the brokerage's
investment banking clients,

but harmed individual investors.

When we first got into this,
everybody said,

"Well, what's the state
attorney general's office

in New York doing
going after this problem?

Shouldn't this be the SEC?"

And my response was,
"Yes, but they haven't.

And if they haven't,

and there are investors
being ripped off, we will do it."

Narrator: Wall Street analysts
advise buyers

on what stocks look good or bad.

With the rise of the Internet,
analysts became superstars,

because only they
seemed to understand

how to value Internet companies.

As stocks soared,
so did the value

of analysts who knew
how to pick them.

The more money they made,

the more potential
there was for abuse.

Henry Blodget
was a failed writer

who stumbled into being
a top research analyst

when, as a young stock picker,

he predicted the rise
of Amazon.com.

By 2001 he was working
for Merrill Lynch,

making $12 million a year.

When one of Merrill's customers
sued Blodget for phony research,

Spitzer's team investigated him,

using an arcane law
called the Martin Act

to subpoena thousands
of documents and emails

in search of fraud.

As Spitzer's team pored
through Blodget's emails,

they kept coming across
the term POS.

They thought POS
was short for "positive,"

for stocks Blodget wanted
customers to buy.

But then they stumbled upon
Blodget's keyword chart.

Blodget's emails were honest
and brutally downbeat.

Meanwhile his official stock
ratings were mostly upbeat,

urging customers to buy buy buy.

Spitzer:
Mr. and Mrs. Smith,

whose IRA or 401(k)
is being invested,

they are the sacrificial lambs

and being used to prop up
the stock

so that the Merrill Lynches
of the world can then

go to the companies and say,
"See what we're doing for you?

Bring us your
investment banking business."

It was fundamentally corrupt.

Narrator:
It was insider's Monopoly,

guided by a basic
fundamental principle.

You don't go
south of 14th Street

except for one reason:
to make money.

( R&B music playing )

The guys on the floor, all they
cared about was makin' money.

That's what... that's...
That's the American way.

Narrator: Jack Grubman
was a highly respected

telecommunications analyst
for Salomon Smith Barney.

♪ Close shooting
don't kill no birds... ♪

He became famous
for pumping up AT&T's stock

to please his boss Sandy Weill.

Then Weill helped Grubman
get his twins

into an exclusive preschool.

Grubman's payday for research?

$20 million a year,

enough to buy a palace
on the Upper East Side.

♪ Take food from
my family's mouth ♪

♪ Before the money came... ♪

Narrator:
Grubman's career ended

when he relentlessly
pumped up the stock

of a company called WorldCom,

just before it went bankrupt.

Do you regret, in hindsight,

staying so bullish
on the company for so long?

Nothing... look,
why are you harassing me

- like this?
- I'm not harassing you.

I'm just asking you questions
about the company that you cover.

This caught you completely
by surprise, you say.

Yes.

Yes.

- Thank you.
- Yeah.

♪ Before the money ♪

♪ Started rollin' in. ♪

There was always this...

Internally we called it
the come-to-Jesus moment,

where we went to whoever it was
we were prepared to sue

and/or, you know, go after, you
know, for doing something wrong

and we'd say to 'em
in no uncertain terms,

"Tell us why,
given this fact pattern,

we would be wrong
to sue your ass."

Spitzer:
Early on in the investigation,

the Merrill Lynch lawyers,
they came into my office.

They looked at me
and they said, "You're right,

but we're not as bad
as our competitors."

I was a prosecutor
for a lot of years.

I never, you know,
heard a defendant

stand up in court and say,
"Yeah, I robbed three people,

but somebody over there robbed five,
so therefore I'm not bad."

I said to Merrill Lynch... they wanted
to settle the case and pay some money

and said, "We will pay
a big sum of money

if you promise to keep
the information secret."

And I said no.

Because my job
as attorney general

is to change the system

so that it's fair
and will be honest.

And if we seal the evidence
and you pay a check

and we don't change the system,
I'm basically being bought off.

My office has reached
an agreement that will help

ensure the integrity
of investment advice

on which investors often depend.

Narrator: Blodget and Grubman
paid million-dollar fines

and were banned from
the securities industry for life.

But their firms bought
their permanent silence

with handsome
severance packages.

In exchange for Grubman's
silence on the details

of his firm's behavior,
Salomon Smith Barney

paid Grubman $30 million.

The nation's best and brightest
were lured to Wall Street

in search of fast fortunes.

The money they made
flowed everywhere...

Penthouses, yachts, golf clubs...

And to the oldest sector
of the global economy

ready for a new cash infusion.

I have rich lovers.

♪ Love for sale... ♪

I don't go out with poor men.

I've got no reason to do so.

♪ Appetizing young love ♪

♪ For sale... ♪

I don't call prostitution

and escorting selling your body.

♪ Love for sale. ♪

You don't sell, you rent.

I love my bank account full.

It's better than empty.

♪ Sex for sugar,
sugar for sex ♪

♪ Sex for sugar,
sugar for sex ♪

♪ Sex for sugar,
sugar for sex ♪

♪ Sex for sugar,
sugar for sex ♪

♪ What you got, girl,
it's so unfair ♪

♪ I like the way you move
so keep it right there ♪

♪ Or you can do
what you wanna do ♪

♪ I'm just glad
I am in front with you ♪

♪ But I don't mind
being butt high ♪

♪ 'Cause I'm-a touch you
where the sun don't shine... ♪

Waldroup: There's a street in SoHo
where a lot of artists set up.

I was selling
my paintings one day.

And this charismatic fellow
comes along

and he's got a beautiful
girl with him...

This girlfriend
at the time, Natalia.

Said, "This is the number-one
escort in New York City.

I run New York's
number-one escort agency."

I've never seen you naked.
You think your body's good enough?

Waldroup:
"I want to buy the biggest,

most expensive painting
you've ever done."

He gives me his business card.

I still have an old souvenir.

♪ Electricity
was definitely there ♪

♪ I got shocked
when I touched your hair... ♪

"New York Confidential,
rocket fuel for winners."

That's all it says.

Narrator: In 2004,
New York Confidential was at its height,

making millions by offering clients
"the girlfriend experience,"

a few hours
with naughty playmates

who looked like
college cheerleaders.

I had $1500 in $100 bills
in my purse.

- Oh God.
- I pulled it out.

- Only 15?
- ( laughing )

We started hanging out
even after I did the painting.

And one day we're in
the back of a Town Car,

and he says, "Hey,
grab the phone," you know.

"Just talk to the guy,
and try to help him out.

You know, he's probably
looking for a girl

to spend the night with."

I'm on the cell phone and...

you know,
my adrenaline is going.

And I'm like, okay, you know,

"We have a brunette, a blonde
or do you like ethnic girls?"

You know, I do a deal for,
I don't know, 3,000, 4,000.

He says, "Great,
you just made 400 bucks

from a five-minute phone call.

I'll give you 10%.

Why don't you just come to work
for me for a little while, you know?"

Man: That Craigslist ad
pulled well, huh?

Waldroup: That's where it all began,
where I started working for Jason.

How do you know she's a no?

We don't get that many
calls for Asians.

One hot Asian is... is plenty.

We need more blondes,
hot blondes.

They might look good in person,

but they got a shitty photographer,
you know?

Hot blondes.
She's a definite yes.

Waldroup:
When a businessman spends,

say, $2,000 an hour,

he wants to read the reviews,

just like if you were to buy a car.

You want to read the reviews.
How much mileage does it get?

Does it have air conditioning,
four-wheel drive?

What... what's
the difference between

paying $1,000 an hour
for this young lady,

when I can open up
the "Village Voice"

or go on Craigslist
and I can pay $200

for another young lady?

You know.

And I'd say, "Well, sir,
sure, you can...

You can have a cheeseburger
or you can have lobster."

You're gonna have
such a good time

with one of New York
Confidential's girls

that you're gonna go
to work Monday morning

with a smile on your face.

You're gonna make more money
for you and your family,

and then you're gonna
call me up next week

and you're gonna say, 'Herb,
who can you send me out today?"'

Natalia:
You can make the assumption

that they're not being sexually
satisfied in their marriage

or there's baggage
or whatever's going on there.

And then... you know,
what's their option?

Do they get divorced?
Do they split up their family?

Or do they seek, you know...
Do they go see an escort?

Waldroup: One young lady
was a schoolteacher;

another girl was a...

She was an athlete trying
to make it to the Olympics.

Actresses, singers, models.

Natalia: Jason would give
his business card

to every girl that he met.

And half of them
would call and then

a quarter of them
would start working.

Some girls would
offer me cash... tips.

Some girls offered me sex.

I don't think I ever got a tip
or sex with Ashley, yeah.

Narrator:
Ashley was Ashley Youmans,

later Ashley Dupré,
who would become famous

for having sex with Eliot Spitzer.

As an escort, she got her start
at New York Confidential,

where her working name
was Victoria.

It was through
one of those straight pitches

that Jason found Ashley.

Waldroup: Jason recruited her
from the Gansevoort Hotel.

Narrator: At the Gansevoort,
Ashley was a bottle girl

trying to break
into the music business.

She was just light.
She was just happiness.

She was like a great
bubbly 19-year-old girl.

♪ Oh it's something to see ♪

♪ That's so pretty... ♪

Waldroup:
She was a good American,

New Jersey Italian girl.

Natalia:
Guys loved her.

She had great pheromones
or something, you know?

Waldroup: Within three
or four weeks, you know,

her rate was going up there
to 2,000 an hour...

With a two-hour minimum.

Natalia: Her reviews
were awesome as well.

I think she got a...
She got something like

12 consecutive 10/10 reviews.

After we did our first
appointment together,

I told Jason, I'm like,
"You gotta book this girl."

First of all, she's great,

but she also has
a perfect coochie.

Narrator: Ashley's reign ended
when New York Confidential

was raided by local police.

No customers were arrested,

but Hulbert was convicted
of promoting prostitution

and sent to jail
for eight months.

Ashley would move on to work
for another escort service.

For every New Yorker
who's been ignored, left out,

who's been told
"You can't fight City Hall"

so many times
they've come to believe it,

for every New Yorker
without a voice, listen:

there's one strong enough
for all of us.

( applause )

Spitzer:
For most of our history

we have turned a blind eye

to the violations of duty

on the part
of white-collar criminals.

We can understand it.

There is something viscerally
terrifying about street crime.

And until you are safe
in your home,

you worry a bit less
about what is often

a bit more amorphous,
which is the nature

of white-collar crime,
which is more subtle theft.

Elkind:
Spitzer broke the mold

of how you prosecute
a white-collar case.

He went after it fast and hard,

and he got things done
in a period of weeks or months

that would take
the federal regulators years.

He wanted to change the system.

So he'd get the goods
on a company or on people

and use it as leverage
to institute reform,

to force the industry to change
the way it did business.

A lot of people thought
that was outrageous.

Narrator: Spitzer hired a team
of dedicated lawyers

who were drawn to his mission.

Eliot just wasn't afraid to stand up
to corporate bad guys.

And, you know, I think
there was some appreciation

for the fact that, you know,
he'd punch 'em in the nose

if that's what was appropriate.

The first day I came in,
Eliot said, "What's next?"

And I said, "Well,
mutual funds, I think."

Boy:
How much will I grow?

How strong will I be
in five years?

In 10 years?

Where does my future start?

Shh.

Narrator: Mutual funds
were supposed to be a safe place

for working people
to put their money.

But there were rumors
that sophisticated investors

were playing games
with those funds.

Brown: I went off
and I started studying them,

trying to figure out
how to get at this issue.

While I was immersed in this,
we got a tip.

( phone ringing )

Noreen Harrington: I left very pathetic
voicemail messages.

( phone beeps )

You know,
reporting a crime is hard.

You have to earn
your credibility.

You have... it feels like
you're being interrogated.

Narrator: Noreen Harrington
had a strong financial background.

After 11 years at Goldman Sachs,

she ran the global fixed
income department at Barclays.

Then she went to work
for Eddie Stern,

the son of a well-known
pet-food billionaire.

Eddie Stern's hedge fund,
Canary Capital,

was producing
spectacular results

at a time when
the stock market was tanking.

The big profits,
said Harrington,

came from manipulating
mutual funds.

They were doing something
really egregious,

which is late trading.

( bell ringing )

Narrator:
At the track,

customers bet on horse races
before the race starts.

But what if there were
a special club

that allowed you to bet on races
after they were over?

There was a club like that
on Wall Street

for trading mutual funds.

Brown: Mutual funds
are only priced once a day,

- right at 4:00.
- ( bell ringing )

So during the day, you call in
and you buy a mutual fund,

they'll say, "Fine, "we're gonna
fill your order at today's 4:00 price."

If you call in at 4:05,
they're supposed to say,

"Fine, we'll fill your order
at tomorrow's 4:00 price."

Narrator: But what if something
happened at, say, 4:05

to make the fund more valuable?

Brown: If you could go in
as an investor

and call at 4:10,
having heard that news,

go back and buy it at the 4:00 price,
you could just buy it,

wait for it to go up
the next day and sell it

and take some money out of it.

In one case, they went to a bank

and the bank put a computer
back-office terminal

into Canary Capital,
Eddie Stern's fund.

Eddie might enter 40 trades

prior to 4:00.

Now let's say it's 10:00 at night;

they cancel the 30
that lost money

and keep the 10 that made money.

And so this was a bank,

completely, you know,
working with one client

to destroy the profits

owed to all the people
in those funds.

Narrator: The name of the bank
was Bank of America.

We spent a lot of time saying
this... this can't be happening.

I mean, no one would be so,
you know, so sleazy.

Harrington: I remember
it was like 9:00 at night.

And somebody said,

"Wow, we just picked
these people off for 10 million."

I'm thinking, "How do you trade
mutual funds at 9:00?"

I mean, you know,
you're a 20-year veteran,

but all of a sudden
you feel like a rookie.

Narrator: When Stern was confronted
with the evidence against him,

he cut a deal to cooperate
with Spitzer's investigation,

which laid open the predatory
nature of Wall Street.

Brown: You have some
expectation as an investor

in the stock market,
that there are big big boys

out there who probably have
better information than you,

and it's precisely to get out of that
that you would go to mutual funds.

And the idea that there
were some sharks

in the tank with you,
with all these thousands of minnows,

was really sort of...
Just really surprising.

I sent out the first subpoena
at the end of June of '03.

And on September 4th,
we announced a settlement.

And what I'd like
you to do now...

Harrington: Three months
after I finished speaking to them,

for Eliot Spitzer and his staff
to have indictments,

settlements,
was astounding to me.

Today's announcement
is merely step one.

One of the questions
I get asked a lot was,

"Did you believe
you would never work again?"

And I think about
that question a lot,

because what you're saying
by asking that question is:

by doing public service
and helping 95 million people

and stopping a crime,
this industry wouldn't want you?

( siren blaring )

Narrator: While Spitzer stirred
popular rage at Wall Street,

there were a few people
who were delighted

to see the bankers
take home big paydays,

as revealed in the actual cell phone
of one of the bookers

of the escort service
called The Emperors Club.

Woman: "I keep hearing about
all the raises on Wall Street.

And usually that would
be good for us.

Hmm, maybe things will pick up.
Take care, hon!"

The lawyer-banker thing is true.

There are quite a lot of them.

But there are lots
of stereotypes, you know,

that it's this crazy
drug-fueled sort of party scene.

But generally, you know,
people are respectful.

They just want to have
a nice time with someone.

Many of my clients
are nicer to me

than many many
of the dates I've been on.

In fact,

I've stopped dating
in the real world, you know?

Partly because it
would be complicated

and partly because
my standards lifted.

Honestly, you know.
( laughs )

Natalia: The pictures of Ashley
didn't surface right away.

The Eliot Spitzer story broke,
and then all these media outlets

were calling me
to do interviews.

And so I did a few interviews
without even knowing that Ashley was...

My Ashley was our Victoria
was Kristen

was all these...
You know, who she was.

Tonight Eliot Spitzer resigns
as Governor of New York.

Where will he find comfort
in this difficult time?

I was shocked
when it all happened.

But then when I saw
Ashley's picture

flashed on the news,

I was like, wait a second,
you know?

I was like, "Oh my gosh!"

I couldn't believe it.

She fit the bill.

♪ My fist to the sky... ♪

Man: "The New York Times"
website identifies

Governor Spitzer's mystery call girl
as Ashley Alexandra Dupré.

Narrator: All over papers
and television

she was called "Spitzer's Girl."

Known as "Kristen"
at The Emperors Club,

Ashley Dupré was determined
to take advantage

of her sudden opportunity.

Natalia: Clearly Ashley was trying
to make a name for herself.

Narrator: After the scandal broke,
Ashley's MySpace page,

with one of her songs
available for streaming,

got over seven million hits.

To help package her career,
she brought onboard

two lawyers, a publicist,
and a management team.

- ? So you better hurry up...?
- Narrator: Ashley's manager arranged

for an interview
with Diane Sawyer.

Everyone played their part.

Ashley dressed up
as the good girl gone wrong,

and Diane Sawyer played
the role of the scolding mom.

You say "the work,"

but you haven't said the words.

- The work?
- Prostitution.

Escort.

Escort.
What's the difference?

- Escort.
- What's the difference?

She catered to
the stereotypes of hookers,

which are, you know, "Poor me.
I had a troubled childhood.

I made a mistake,"
which is such a load of crap.

It's... I can't change the past.

I can only try to take
what I've learned and...

And apply that to my future.

We are being paid
ridiculous amounts of money.

None of these women are forced
to do this and they're not stupid.

Many of the professional
prostitutes that I know

are very smart women
who weren't abused.

You know, don't have
a mental disorder.

They just happen to believe
in this kind of work.

Narrator:
So do their customers.

The cell phone of the Booker
from The Emperors Club

offered a glimpse of the club's
well-heeled client list:

an Oscar winner, CEOs

and high-powered
investment bankers.

The club treated them
like emperors. And why not?

They made more money than kings.

They enjoyed having their way
with women and the world.

So it came as no surprise
that they resented it

when the New York Attorney
General started to cramp their style.

Reporter: "The Economist"
magazine calls him

"Wall Street's
scourger-in-chief."

Reporter #2: He's gone
from complete anonymity

to what "Fortune" magazine calls
"the most feared man on Wall Street."

Spitzer has deputized himself
as the Sheriff of Wall Street

and is leading the posse
for retribution,

restitution and reform.

Narrator: Spitzer appealed
to Democrats and Republicans.

He was a law-and-order liberal
who wasn't afraid to punch back.

When you go down to Wall Street,

like when you walk
into a building on Wall Street,

is it like turning
the light on in the kitchen

and the roaches just scatter
everywhere you go?

- Well, y'know...
- Are you a beam of light...

It is... there was a day that I had
to walk into a hedge fund...

Ken Langone:
What I was intrigued by...

The number of people
that were terrified by him.

I mean, they literally
were terrified

at this guy coming after them.

Spitzer: The issue of CEO comp
was something I had been trying

to get people to take a look at.

It was off the rails.

♪ I'll take what I want ♪

♪ I'm a bad go-getter, yeah ♪

♪ Ha! Yes I am ♪

♪ I'm never a loser ♪

♪ And I'm never
a quitter, yeah... ♪

Spitzer: The ratio of CEO comp
to the average worker's comp

had gone from about 40 to 1
to about 550 to 1.

CEOs began to just take
everything they could

and ultimately that was going
to destroy our economy.

Because instead of running
the companies to create

long-term wealth
and long-term investment,

all the games we've seen...

Everything from backdating
of stock options

to maximizing short-term profits

without sufficient investment
for the long term...

These are things that are cancers
inside the economy.

♪ 'Cause I'll take
what I want, yeah, baby. ♪

Narrator: One of the flashiest
executives was head

of the New York Stock Exchange:
Dick Grasso,

who boasted owning 10 cars
and three homes.

He traveled on private jets,
often flanked by armed bodyguards.

His job was to regulate and market
the New York Stock Exchange.

Nicknamed "Punky,"

Grasso was a scrappy
college dropout

who started on the floor
and worked his way up.

There's a job opening
at the New York Stock Exchange.

Chairman Dick Grasso
resigned yesterday

over the fury raised
by his massive pay package.

Narrator: Not only was Grasso paid
an average annual salary

of $20 million,

his retirement package
totaled nearly $140 million.

After Grasso stepped down,
the new head of the Exchange

brought the matter
to the attorney general.

Spitzer: There's a statute in New York
that says the value

of the paycheck that the head
of a not-for-profit receives

must be commensurate with the value
of the services provided.

I like Dick.
He's a decent guy.

He didn't provide services
worth $139 million.

Perhaps more perversely,

the compensation
had been determined

by the very people he was
supposed to be regulating.

I had the most respected
group of directors

from the corporate
and financial world.

They exercised
their business judgment.

They paid me what they believed
to be fair and reasonable,

which I... I agree with.

Narrator: Spitzer decided
not to go after

the blue-chip
international board.

Instead, he sued Grasso
and the head

of the board's
compensation committee,

Ken Langone.

Langone would prove
to be a formidable foe.

I've been rich
and I've been poor.

Rich is better,
I can tell ya right now.

Narrator: The son
of a Long Island plumber,

Ken Langone had
cofounded Home Depot

and amassed a fortune
of well over a billion dollars.

A dedicated philanthropist,
Langone was not shy

about paying people well.

Langone: At the time we awarded
Dick these pay packages,

I truly believed that Dick
earned every single penny,

and more!

Narrator: Spitzer demanded
that Grasso return $100 million.

At the time, Langone told
"Fortune" magazine:

"If Grasso gives back
a fucking nickel,

I'll never talk to him again."

Spitzer: He, as anybody
in that position would,

took umbrage at it.
And he developed

a rather strong
animus towards me.

The day that I sat in this room

and he went on television

with that farce
press conference he had,

announcing that he was
going after Dick Grasso and me

and all kinds of bad things
about me and...

Eliot's theatrics.

You can't pay the head
of a not-for-profit

that much money...
Close to $200 million.

It's simply too much.
It's not reasonable.

It's not right.
It violates the law.

Langone: It was headlines,
it was glorious headlines!

All these captains of industry!

Hey, this is big game.

This is going after elephants.

Spitzer: He became
a very vociferous critic of mine.

And that's all fair game.

In my view we were right
and he was wrong.

But again it was something
he felt deeply about.

Narrator: In 2004 at the Democratic
National Convention

Spitzer took up the issue
with Jack Welch,

the former CEO
of General Electric.

Langone: Jack and I are
very good friends.

Spitzer came up
to him with froth

coming out of the sides
of his mouth, spitting,

I mean, so exercised,
and pointing at Jack:

"You tell your buddy

I'm gonna put a spike
through his heart!"

This is not something
the Attorney General

of New York State says.

So when Jack told me,
I said, "Jack, do me a favor."

I said, "If you see him,
tell him one thing:

make sure it's steel,
because wood'll break."

Narrator:
The case dragged on for years.

In 2008, the New York State
Court of Appeals

dismissed the case
for a bizarre reason:

since the suit had been brought,
the New York Stock Exchange

had abandoned
its not-for-profit status.

Dick Grasso kept all his money.

But Eliot Spitzer
had engaged an enemy

with virtually
unlimited resources,

one who was watching
and waiting for any misstep.

I'd like to think

I'm not a vindictive person.

And a basic tenet of my faith
is forgiveness.

The most harm that
Eliot Spitzer has done to me

is I am defying my faith.

I can't forgive him

and I should, but I can't.

Narrator: In Ken Langone,
Spitzer had created a mighty enemy.

And then he added another one
when he took on Hank Greenberg,

the head of the world's largest
insurance company, AIG.

At the age of 79,
Maurice "Hank" Greenberg

was the most powerful
businessman on the planet.

Under his command AIG had grown

to be worth $157 billion

with 92,000 employees.

Admired for his
spectacular results,

Greenberg ruled his empire
with an iron fist.

I think he was Louis XIV
to everybody else's,

you know, being a mere baron.

I think Hank Greenberg
epitomized

the power of corporate CEOs,
and in my view,

he was the most powerful person
in corporate America.

Narrator: Greenberg's measure
of his own worth

was the stock price at AIG.

The normal cycle of business
is that sometimes your profits go up

and sometimes
your profits go down.

But Wall Street didn't like
companies to perform that way.

They wanted to see
steadily rising profits.

If you delivered
steadily rising profits,

they'd give you
a higher stock price.

So Hank Greenberg came up
with a new type of insurance

that would create the illusion
of steadily rising earnings.

Narrator: Greenberg's AIG
was fined over $100 million

by federal authorities

for helping other companies
cook their books.

In 2005 it appeared
that AIG might be

using similar tricks
to pump up its own stock.

Spitzer:
The more we dug into AIG,

the more problematic

the company itself
appeared to me to be.

And the disconcerting
aspect of it

was that it did appear
to come from the very top.

Interviewer:
When did you first hear about

Spitzer's investigation of AIG?

When I got a subpoena.

Narrator:
One deal generated by Greenberg

caught the eye of Spitzer
and federal investigators.

It was a suspicious contract
between AIG and Gen Re,

a company owned by
billionaire Warren Buffett.

One of the most startling
moments in this case

was when tapes emerged

that were dispositive,
overwhelming proof

of exactly what these
transactions had been.

As this was unfolding,
Dick Beattie called me

one Saturday morning at home
and said let's talk about this.

The board wanted me
to find out what I could

about the Gen Re investigation.

Eliot was jogging on
a Saturday morning or something.

I met him in the park.

The only thing of significance
he told me, as I recall,

was that they had Hank...

Hank's name on tapes.

Narrator: To boost his stock price,
Hank Greenberg wanted

to make it look like AIG
had $500 million more than it did.

The original phone call
was to see if we could get

a lost portfolio
from Ron Ferguson.

What happened afterwards,
I don't know.

I... I didn't... I wasn't involved
in the details of the transaction.

Narrator: A handwritten deal memo
laid out the terms:

Gen Re would pretend
to pay AIG $500 million

in two installments

for a phony insurance policy.

There was no risk
of paying a claim.

For doing the phony deal,
AIG would pay Gen Re

a $5-million fee.

Houldsworth: No risk.
No risk for 5 million bucks.

Narrator: Hank Greenberg's
initials, MRG,

were all over the document.

Monrad: The two people
at AIG who are involved

are Hank Greenberg
and Chris Milton.

AIG was a big company.

I didn't... I didn't stay focused

on-on... on the Gen Re
transaction.

Man:
Yes. ( laughs )

Graham: That sorta gives
you somethin'...

Man: Yeah, that tells you somethin',
doesn't it? Yeah.

Narrator: What was an unfair
advantage to Greenberg

was seen as cooking the books
to AIG's accountants,

Pricewaterhouse Coopers.

The firm refused to accept
AIG's financial statements

as long as Greenberg
was the CEO.

Hank wasn't pushed out
by... by Eliot.

What happened was
the investigation that followed

and the accountants,
at the end of the day,

said, "We're not taking
that certification anymore."

So you're sitting here
as a board of directors,

saying, "My God,
what does that mean?"

That's what drove the board

deciding that Hank had to go.
And one other issue.

Narrator:
Spitzer demanded

that Hank Greenberg
testify under oath.

However Greenberg's
lawyers advised him

to plead the Fifth,
despite AIG's policy

to fire employees who didn't
cooperate with regulators.

That troubled a lot
of people on the board.

They wanted him to say,
you know, "Absolutely not.

I'm not gonna take the Fifth.
I'm gonna testify."

I think Frank Zarb and I
called Hank

and told him that the board
had made the decision

that he had to step down.

These are very serious offenses,

over a billion dollars
of accounting frauds

that AIG has
already acknowledged.

That company was a black box
run with an iron fist

by a CEO who did not tell
the public the truth.

That is the problem.

So does that mean you're moving
toward an indictment?

No, I didn't say that.
It depends what we will prove,

or can prove that Mr. Greenberg
knew at the time.

We have powerful evidence.
We will proceed with it.

It's too bad that
the attorney general

doesn't come out
from behind his office,

where he's protected
against libel.

I wish he'd come out and say
these things as a citizen.

Spitzer attacked Greenberg,

and I saw him
on television one night

saying that Hank Greenberg
was a crook.

Narrator: John Whitehead
had been a war hero,

a Deputy Secretary of State

and the chairman
of Goldman Sachs.

And his office continued
to leak information

about why he was a crook

without ever any charges
being brought against Hank.

So I said this is something
I have to do something about.

So that's what caused me
to write that first article.

"Something has gone
seriously awry

when a state attorney general
can go on television

and charge one of America's
best CEOs

and most generous
philanthropists

with fraud before any charges
have been brought,

before the possible defendant
has even had a chance

to know what he personally
is alleged to have done

and while the investigation
is still underway."

That was the thing
that set me off.

I had heard of
an incident involving

former Goldman Sachs chairman
John Whitehead.

Mr. Whitehead
had come out publicly

supporting Mr. Greenberg.

After that op-ed was published,

he received a threatening
phone call from Eliot Spitzer.

He asked me a couple
of questions about my article.

And then he came
right to the point.

He said, "Mr. Whitehead,"
he said,

"You and I are now at war."

You know, look, he had...
He had written an op.

I don't know if I said
those words or not.

If that's the worst I said,
you know, okay, that's...

People are at war with me
all the time.

Interviewer: "You have fired
the first bullet."

"You have
fired the first bullet.

But believe me,
by the end of this war,

I will fire the last one
and you will be dead."

Well, I don't think I said that.
I mean, John White...

I wouldn't say... I... I...
Look, I hope I didn't say that.

He was screaming into the phone.

He and I had
a heated conversation.

I will leave it at that.
It was a private conversation.

As I've said, I've never denied

that I have heated
conversations in private.

It's... it was me,
it is me, so be it.

And I think sometimes
it's how you get things done.

He said,
"I will destroy you."

And those are...
Those are strong words.

I had never heard words like that
before from anybody.

I couldn't quite believe it.

Narrator: Spitzer's outbursts
became legendary to his staff.

When he exploded,
his staff would remark

that Spitzer's evil twin "Irwin"

had dropped in
for an unexpected visit.

In fact, a very prominent lawyer

of a very fine company
had a meeting with him.

And this man said to me,

"When I came out of his office,
I swore I saw the words E-V-I-L

across his forehead."

I have no doubt if Hank Greenberg
were still running AIG,

AIG would not be
in the fix it's in today.

Today the federal government
announced it has once again

reworked the bailout
of insurance giant AIG.

Reporter: Now the bailout
needs a bailout.

Two months after AIG was given

that first emergency
government loan,

it's getting another lifeline.

Narrator: In 2008
AIG was at the center

of a global economic meltdown.

Before and after
Greenberg's fall,

AIG had been selling
billions of dollars of insurance

to the world's biggest banks

to hide their risky gambles
on home mortgages.

When housing prices collapsed,
AIG couldn't pay the claims,

and US taxpayers
paid $183 billion

in an effort to save
the global economy from collapse.

According to Greenberg,
the blame for AIG's fall

and the global meltdown
rested with one regulator...

Eliot Spitzer.

Spitzer wanted me out.

When politicians
involve themselves

in who is going to run
a company and who is not,

we're on dangerous ground
in this country.

Spitzer:
It is the big lie writ large.

The books were being cooked
at his company.

Hank Greenberg was removed
as CEO by his own board

when they saw
the underlying facts

of what was then one of the
largest financial frauds in history.

I didn't do anything improper.

Neither did any of the senior team
do anything improper.

Interviewer: You say to people,
if Hank Greenberg had

still been there, this would
never have happened?

It would not have happened.

Spitzer: The very trading practices
that led to these

gargantuan obligations

that taxpayers
are now bailing out

all began while he was there:

Very significant
accounting frauds,

reinsurance contracts which
he participated in structuring

that were deemed
by a federal jury

in Connecticut to be illegal.

Four people went to jail.

He was called
an unindicted co-conspirator

by the prosecutor in that case.

So his maintaining uninvolvement

in the structural issues
is simply wrong.

Narrator: Spitzer wanted
to prosecute Greenberg

for financial manipulation,
but was called off the case

by the US Attorney
Michael Garcia.

Spitzer: Michael Garcia sent me
an over-the-top letter

when we were going to include

significant allegations

relating to Hank Greenberg
in our AIG complaint,

telling us to back off.

And it was a moment of...

I don't want to say there was
anything improper

about the letter
that Garcia sent,

but he basically said,
"Don't you dare go near this.

We're doing this,"
relating to Hank Greenberg.

Narrator: Michael Garcia never pursued
charges against Greenberg.

Instead he would lead
the prosecution

that led to Spitzer's downfall.

Both Greenberg and Langone

hired PR firms to go after Spitzer.

And Langone hired
a private investigator

to find out what he could.

Interviewer: I want to move on to the...
To The Emperors Club.

When did that start,
approximately?

- Sometime in '06.
- Early '06?

Thereabouts, yeah.

You were flying about as high
as you could possibly be flying.

- Mm-hmm.
- And this is prior to...

At that point in time,
you were pretty certain

you were gonna be
Governor of New York,

- wouldn't you say?
- Right. Well, really, look.

If your point is things were

as good as they could get,

from a political perspective,
I suppose that's right.

And the only metaphor

I can think of perhaps is Icarus.

Those whom the gods
would destroy,

they make all-powerful.

A friend of mine
recently gave me a T-shirt

that he claimed he had
had printed

for investment banker
friends of his.

But he thought I would enjoy it,

and maybe I could
maybe even learn from it.

The T-shirt said on its front,
"Hubris is terminal."

♪ If I ruled the world ♪

( laughing )

♪ I'd love all the girls ♪

♪ I love 'em,
love 'em, baby. ♪

I'm not a kingmaker.

But I'm gonna call it...
You're gonna win.

- Well, thank you.
- I'll tell you why.

- I'm glad I came tonight.
- Well, absolutely, it's done.

Narrator:
In early 2006

Spitzer's approval ratings
were over 60%.

He had announced
his run for governor

and was predicted to win
in a landslide.

You could do anything.
You could punch a toddler and still win.

Narrator: His career
was every politician's dream.

No, I was the enforcer.

I mean, I was the kid
who played left fullback,

not because I had real talent,
but I took people out.

You play hard, you play rough
and hopefully you don't get caught.

( laughs )

Narrator: Right around this time,
Cecil Suwal,

the 22-year-old CEO
of The Emperors Club,

took a phone call
from a new customer.

Though he used the name
"George Fox,"

it was actually Eliot Spitzer.

The very first time that he called,

I answered the phone.

And he called
and he was whispering.

So I thought it was a prank.

And so the other Booker
called and said,

"Okay, I'm ready to start
answering the phones."

So we transferred the phone
to her, and I said,

"Oh, I just spoke with someone.

You know, I'm gonna
let you handle that."

And apparently, he saw,
I think, three people in a row,

just back to back that evening.

So I guess it wasn't a prank.

Narrator:
Reading "New York" magazine,

George Fox, AKA Eliot Spitzer,

claims he was drawn to websites
in the classified ads,

and while surfing the web,
found The Emperors Club.

♪ Secret heart ♪

♪ What are you made of? ♪

♪ What are you so afraid of? ♪

♪ Could it be ♪

♪ Three simple words? ♪

Suwal: When you're sending
a girl on a trip to Chicago

for $30,000 overnight,

it doesn't necessarily feel like
you're running "prostitution."

It feels different.

And so that's where I think
we got a little bit lost,

as far as the whole legality
of the situation.

♪ This buried secret
that you'll try... ♪

Narrator: Cecil Suwal dropped out
of the University of Miami

when she fell in love
with 60-year-old Mark Brener,

who owned The Emperors Club.

Soon they were
running it together.

The night that they arrested us,

we were just sleeping
together in our...

You know, holding each other.

We really just loved each other.

Not only were we lovers,

but we also had the business,

so everything was
all wrapped up into one.

And I love him, so...
I still do.

♪ Come out and share it. ♪

Narrator:
"Cece," as she was called,

decided to take
The Emperors Club

in a more high-end direction.

My primary focus at the time

was to promote the website
to the right people,

to the right kinds of girls,

who... the kind who,
you know, are well-educated

and come from good families.

The number of diamonds
that the model had

indicated not only
her hourly and daily rate,

but also just the general
quality of companionship

you could expect from her.

So if she was three diamonds,

her daily rate would be 10,000

and her hourly rate
would be 1,000.

It went 1000, 1200, 1500,

2100, 3100.

And then the day rates,
you would just add a zero.

( laughs )
I did that.

With mathematical
precision, right?

Tsss!
Whatever!

Just add a zero,
that should work.

We had our core girls
that we immensely valued,

that really could, you know,
bring home the bacon

and then we had
the sort of spiral effect.

Ashley went for 1,000.

She certainly wasn't the core.

She was definitely one of
the girls, like, on the edges,

the sort of peripheries.

We had people
working with us in LA,

Miami, New York, London, Paris.

They were just all over the world.

( bagpipes playing )

Narrator: The club's
richest client in London

was the Duke of Westminster.

One of his dates
was Zana Brazdek.

Suwal: She drank an entire
bottle of champagne

and he doesn't drink alcohol.

So she got drunk,

and once she
figured out who it was,

went to the reporters
and, you know,

it was sort of a mishap,
if you will.

Narrator: Zana had violated
the employment standards

of the club and had
to be terminated.

♪ Very secret... ♪

Suwal: I began seeking out
fashion models

and the absolute highest
financial elite as clients

and sort of putting them together
and then charging a fee.

Interviewer: So I get it.
So that was the rationale then.

In other words
so long as you presented it

as a get-together service,

then you weren't doing
anything illegal.

Yeah.

Narrator: The man known as George Fox
became a regular client.

Interviewer: How often did he meet
with Ashley, or "Kristen"?

Well, he met her one time

and that was the big
Mayflower experience for him, I guess.

Interviewer: But it was
just that one time?

One time.

Sawyer: How often did you see
Governor Spitzer?

Legally, I am... I'm not able
to answer that question.

Sawyer: Court documents say they may
have had previous encounters.

Narrator:
The court documents didn't say that.

Ashley Dupré let the world believe
that she was the "Luv Gov's" girl.

But she was only
a one-night stand,

caught on a wiretap
at the Mayflower Hotel

in Washington, DC.

That begged the question:
who else was there?

There was someone
who he enjoyed seeing most.

And she was very pretty
and a very intelligent girl,

and not a... not a fashion model.

She had her own career.

And he liked to meet
with her frequently.

And she was actually the first person
who said, "Oh, this is Eliot Spitzer."

Narrator: The escort chose
the name "Angelina."

I discovered who she was
and she agreed to speak to me

so long as I did not
disclose her real name,

her face or reveal her voice.

So I transcribed her interview
and hired this actress

to perform her words.

"Angelina":
He used the name George Fox

and he booked an hour
at a New York hotel, Upper East Side.

Um...

that first time
it was very businesslike.

Interviewer: You said he wasn't
that interested in the companionship.

( laughing )

Right.

- You're laughing.
- It's funny.

'Cause he wasn't at all interested
in the companionship?

I'm not... from what I...
From what I heard.

I remember thinking
he was like...

I hate to put this crudely, um...

A trying-to-get-his-
money's-worth type client.

I said to the agency,
you know, I don't...

I don't want to see
that person again.

Interviewer: In what seems to be
a kind of epidemic

of, you know, political figures
and sex scandals,

one question is, why...

you know, why hookers?

I mean, why, particularly when
that's, you know, illegal?

Again, I don't want
to delve into...

Certainly don't want
to speak for others,

and even in my own case,

don't really want
to speak to that issue,

except to say that
you cave to temptations

in a way that perhaps
seems easier

and... and perhaps is,

in some very twisted way,
less damaging.

Interviewer:
Less damaging how?

Than having affairs
or relationships

that take on a different tenor.

That have...
I'm sorry, that have what?

Relationships that take
on a different tenor.

You mean that have
some sort of emotional...

Perhaps, yeah.

Narrator: Eliot Spitzer
had taken the first step

into his double life.

He had just entered
a world which formerly

he had seen only from the outside,
as a prosecutor.

In April 2004, after wiretapping

a social club in Staten Island,

Spitzer helped
the FBI and NYPD bring down

a sophisticated prostitution ring.

He knew how it was done.

He also knew his life
was about to become

more public
than it had ever been.

Announcer: If we're ever going
to reform Albany,

it's gonna start
on November 7th,

Election Day.

Because if one man can stand up
to the powerful, so can you.

He'll ask and you'll answer.

And with one collective roar,

we'll wake the state government
right out of its long sleep.

And on that day,
government will stop being

that thing we complain about

and start being that thing
we can do something about.

Jimmy Siegel: When I started doing Eliot's
campaign ads,

everyone was very enthusiastic
because we all felt like

we were working for a candidate
that comes along once every,

I don't know, 20 years,
you know, 30 years.

I came in with a line which was

"Bring some passion
back to Albany."

New Yorkers don't like anger,

but every New Yorker
likes passion.

( upbeat music playing )

Narrator: Silda Wall Spitzer
persuaded her husband

to hire Jimmy Siegel.

She sensed that Siegel
had the ability

to frame Spitzer's severe
combative style

in an emotional
populist campaign.

Siegel: I don't think she signed up
to be a political wife,

the wife of a politician.

But I think she ended up
really enjoying the campaign.

She was amazing to work with,

and one of the nicest people.

And she really cared.

She really believed in him
and believed in this cause.

Pre-Barack Obama,
you could make the case

that Eliot was the preeminent
Democratic politician

in America at that point.

In the political world, it was
kind of like working for a rock star.

( crowd cheering )

- ( fanfare )
- Announcer: Ladies and gentlemen,

I present to you the Governor-Elect
of the State of New York,

the Honorable Eliot Spitzer.

( audience applauding )

Narrator: Taking a record
69% of the vote,

Eliot Spitzer had a popular
mandate to make big changes.

Together let's build
that one New York,

let's walk toward
that better day.

Thank you, and God bless
the great state of New York.

Constantine: Here he was,
he's Governor of New York,

he's king of the world,

he's the future President
of the United States.

Eliot Spitzer is going
to fix up this state

and then he's going to go to
Washington and do the same thing

that he just did for New York
for the United States.

That was in everybody's mind.

Spitzer: People had said
to me before I won,

"Do to Albany what you did
to Wall Street."

And we tried.
We went at it

with a determination that was alien
to the culture of Albany.

Narrator: The Capitol building in Albany
was a monument to corruption.

America's most expensive
government building

was like the legislature...

A bog of waste,
double-dealing and graft.

The gargoyles on the walls
haunted the place.

The maze of grand stairways
navigated by special interests

robbed lawmakers
of any sense of perspective.

Spitzer:
It's like an Escher.

You don't know if you're going
up or down, left or right.

The mind gets turned upside down
inside that building.

Fred Dicker: I think over the years
that some people have appropriately

seen it as a metaphor
for the labyrinthian nature

of New York politics.

Radio announcer: It's time for
"Live from the State Capitol,"

with Fred Dicker.

Narrator: Fred Dicker,
of the "New York Post,"

was a 25-year veteran in Albany.

Well, this is Fred Dicker
live at the state capitol.

Welcome.
What a beautiful day...

Narrator: Deeply conservative,
Dicker was proud

of calling himself
"an equal-opportunity prick,"

attacking whomever
came into office.

Dicker: Eliot Spitzer,
who didn't suffer fools lightly,

was treating a separate
branch of government,

the legislature that could
block him at every turn,

as if he could just
push 'em around

like they were
Wall Street executives.

Well, they pushed back
and they pushed back hard.

Narrator: The man
who pushed back hardest

was Republican
Senate Leader Joe Bruno.

A charming old-school dealmaker,

he wasn't much interested
in Spitzer's reforms.

Bruno: He thought that he really
was sort of the Second Coming

and that he was going
to get everybody

to do what he wanted to do.

I think he started
thinking dictatorially

almost, you know,
in his own mind.

It wasn't a cakewalk.

It was not going to be as easy
as building a legal case,

presenting it to a fact-finder
and then you get a resolution.

This is a political process,
which is much more complicated.

It's three-dimensional chess.

( folk music playing )

Narrator:
Chess was not Joe Bruno's game.

A former boxing champ,

he knew when to duck,
when to punch back,

and sometimes
how to fix a fight.

Yeah.

Narrator: In the Senate,
he had an annual

discretionary fund
of $85 million

to spread around the state
like political fertilizer.

Yeah.

Narrator:
By 2007, the FBI

was investigating him
for corruption.

Word was that Joe wanted
a graceful way out.

Bruno:
He told me, repeatedly:

"We're partners.
We're gonna get things done."

But he didn't know
how to negotiate,

he didn't know
how to compromise.

Narrator: Spitzer attacked
Albany head-on.

Early, he won
some big victories,

but to get his
first budget passed,

he had to play the game
Joe Bruno's way...

Trading favors
in backroom deals.

When we did the budget,
when I sat with him...

This went off, this went off,
this came on, this came on,

we shook hands, we come...
It got done face to face.

Frankly, he got criticized

for caving in to some
of our needs.

He got panned for that
in the press.

Narrator: Spitzer responded
by insisting on the very thing

that Albany pols despised...

Open, rational debates.

Thank you to everybody
for being here,

in what is now,
I think, our fifth

in what will be
a continuing effort to meet

to forge consensus on issues,
raise issues, frame an agenda...

Narrator: Spitzer wanted debates
to be like his father's dinner table.

But Joe Bruno was the turd
in Eliot's punch bowl.

But, Governor, I mean, again,

I say this very respectfully,

that is nuts!

( audience laughing )

What he wanted was for you
to just sit there

like pupils with a teacher,
nod your head

as he was lecturing you
and pontificating.

Well, government
doesn't work that way.

You responded...

Joe, I'm now gonna tell you
something very simple...

This is my room;
you're not gonna now derail us

from a conversation about energy,
which we were just having.

- This has been a useful...
- I thought you'd concluded.

And I called him several times.

I said, "What on earth
is the matter with you?"

You understand that you have
to have the cooperation

of the legislature, both houses.

He said, "Well, we're at war.
This is a war."

And he said it like
a big overgrown kid.

There'll be... there'll be a few
tackled bodies on the field, so be it.

He was elected to get
to Albany and turn around

the 30-year decline
of the state,

to reform state government
and do something

about the economy,
which for decades has been like,

you know, on a slow downward
spiral in New York state.

He had a temper.
He had this passion.

It was, when focused
and well-conceived in its execution,

it's what, you know, the people
wanted to have happen.

♪ Well,
I'm a steamroller, babe ♪

♪ I'm bound to roll
all over you... ♪

Yeah, well, I was told

that Governor Spitzer
had just gotten off the phone

with Jim Tedisco,
the Assembly Minority Leader,

and had said to him,
"You'd better toe the line

of what I'm trying to do here
or be subjected

to the governor's wrath,"

which he had described as being
a "fucking steamroller."

So James Taylor was on my mind
and he has a famous song.

It was a throwaway line
honestly meant in good humor

with Jim Tedisco.

And frankly, I said,
"You know what?

We're not trying to be the steamroller."
It was in that context.

When he said,
"I'm an effing steamroller,"

I mean he meant it!

Narrator: He took on his own party
when he bitterly opposed

their choice for state controller.

So he had both houses
of the legislature,

one from his party,
one from the other party

who are now sitting up
and taking notice

that whoa, this guy...
This is not a guy

who plays well with others.

Democrats would come
into this room and say

they couldn't stand
the governor.

Democrats were saying
they loved Joe Bruno,

the Republican, because he
was taking on the governor.

A steamroller is no match
for that baby.

I can tell you that right now.

( engine revving )

♪ Now I'm a napalm
bomb, baby ♪

♪ Just guaranteed
to blow your mind... ♪

Dopp: Some of those
old-time pols, you know,

really understood human nature.

And I think Eliot's
view of it was

we would force them
to do the right thing,

but it's not the way
the system is set up.

Again, I don't want to just say
you're wrong, but you are.

We...

Dopp: I'd say to him,
"Boss, this system is set up

so that only incremental
change is possible."

And he'd be like,
"God damn it, no it's not."

And the result that it produced
is he began to go around

Mr. Bruno to specific members
of the State Senate.

Mr. Bruno took that to be an act
of, you know, a hostile act.

He quickly announced publicly

he's going to take me
out as leader.

I'm history

and the Republican majority
was going to cease to exist.

He was going to take us out.

I said something like,
"You know,

I've been threatened by hoods
and thugs my whole life.

You're just an amateur.

If you think you're gonna
bother me, you just don't."

Dopp: We knew that folks
would come down hard on us

if we ever stumbled.

He said, "You're damn right.

If we ever fall,
they'll kick us in the nuts."

Which is why the downfall
was so shocking.

Interviewer: Did it begin to haunt you
as something that you thought

was possible, that you were
gonna get caught?

Or did you... that didn't even...

At a certain point,
that didn't even occur to you?

No, of course it does.

Of course it does.

And you just deal with it.

How did you deal with it?

That's the one...

Those are the mysteries
of the human mind, I suppose.

I... I don't think I can
answer that question,

because I don't think I know.

"Angelina":
I got a call months later.

And this... this was kind
of a last-minute thing.

This was at the Waldorf Hotel.

He showed up
with this baseball cap on,

like, clearly trying
not to be recognized.

And I'm like, you know,
"Don't tell me it's that guy again."

In that second meeting, you know,
I was rather pushy with him.

I was like, "We're gonna sit
and have a chit-chat

and have a nice
little date here."

And it ended up being
a fun couple of hours.

I thought it was Eliot Spitzer,

you know, but I couldn't
be absolutely sure.

So I made a point to look out
for him in the papers.

And it was at that point that I said
to the people who ran the agency,

"You know who this guy is,
don't you?"

And they said no.

He was hiding.

He didn't want anyone
to know who he was.

He was extremely paranoid.

He knew that his entire
political career was on the line.

And ultimately vice
just took over virtue.

He could not control himself.

I don't know,
I just remember one time

he was trying to book
an appointment.

And I just remember
thinking to myself,

I was like, "This man
is so paranoid.

He's just going
to attract a situation."

You know, because he was
just asking for it.

It's like, "Listen, man,
if you are so worried

about what you're doing,
don't do it."

I mean, just getting a deposit
from him was an issue.

In order to book
an appointment out of town,

you had to pay upfront.

So he would have to go through
sending these money orders in.

We're like, "Okay, why don't
you just deposit 'X' amount

in the bank if you want
to meet her by tomorrow

and we're not gonna receive
payment by tomorrow."

And he's like,
"I can't go to the bank."

I never acknowledged who he was,

but he... he knew that I knew.

He started to request me.

I saw him outside of New York,

in Palm Beach, Puerto Rico,

Dallas, Washington.

He was always very guarded
about what he would say.

And... I mean, I would insist

on having a conversation
before we started.

I'm like... I'm totally
taking advantage of this.

'Cause he's so smart
and interesting.

I would, like,
have my little rants

about what was wrong with New
York City that needed to be fixed.

And he... he listened.

Bruno: When I saw him
out with his wife,

with his children,
he had it all together.

You know, what was strange
with Eliot Spitzer

was he could be pleasant
and charming and act very caring.

When my wife was reported
as being seriously ill,

he called me several times.

And this is right in the height
of some of our worst exchanges...

Couldn't have been
any more pleasant.

But when he came after me,
in what was called Troopergate,

then it was apparent that this
man really intended to destroy me.

Narrator:
In the Spitzer-Bruno war,

the biggest battle
was Troopergate,

so-called because
of the way state troopers

may have been misused
for political purposes.

It was an attack on Bruno
that would boomerang on Spitzer.

It was a Sunday and I was
reading the local newspaper,

the Albany "Times Union."

And there was a story
on the front page

and the suggestion was
that Bruno had misused

state helicopters
and other state travel

for personal
and political purposes.

We released public documents
on use of the aircraft.

It turned into a story,
a one-day story.

But in a brilliant, I think,
communications move

by Mr. Bruno's people,
it was portrayed as,

"Oh, those are records
that aren't normally released.

Oh, there's spying going on.
There's dirty tricks going on."

The allegations
are that the executive

conspired to use the state police,

state resources,
to literally spy

on a colleague in government.

I was told, "No, don't comment.
Don't... don't respond."

And I kept saying,
"We've got to respond.

We're losing badly in
the public-relations capacity

by not standing up and saying
how ridiculous

these allegations are."

Why wouldn't he answer
questions under oath?

Because of...

What's the explanation
for that, Governor?

Fred, I...

And was it on the advice
of counsel in your agency?

- Fred...
- In the executive chamber?

Was he advised not to do it?

Fred... Fred, I'm...
As I've said very clearly,

the investigation was one
where they asked for information...

- You keep changing the subject.
- I'm not changing...

The question is why...

Okay, Fred, I've answered
the question. Yes, Josh.

Dicker: It was a very intense
press conference

where Spitzer was trying
to claim he had nothing to do

with Troopergate and he hardly
knew anything about it.

Narrator: Spitzer insisted
the leak had been

Darren Dopp's idea
and suspended him.

But in fact, he had told
Dopp to release the records

about Bruno and suggested how.

The famous quote
that you're referring to is,

"Shove it up his ass
with a red-hot poker."

Narrator: Investigations
engulfed Spitzer's office

and created the public perception
that he'd abused his power.

In reality, the controversy
was a smokescreen

that hid Bruno's corruption.

The guy Bruno was going
to basically fundraisers

and then, you know, making sure
he made a two-second call

to, you know, some guy
in the electricians' union

so he could say, "No, this was,
you know, state business."

As far as I'm concerned,
it's a complete fraud and a hoax,

you know, with one of the most
corrupt state capitals.

"We're investigating
whether or not

there was a leak to a reporter.
Oh my God!

A crime
has been committed!"

You know, it's the most...
The biggest joke.

Narrator: A careful examination
of Bruno's travel logs

revealed that state troopers
had ferried Bruno

on extended visits to see
Spitzer's political enemies,

including a trip to CV Starr,
the office of Hank Greenberg.

Interviewer: Do you recall
Senator Joe Bruno coming to see you?

Yeah, Joe Bruno would come
from time to time to see me.

They're always trying
to raise money.

When he came,
did you talk Spitzer?

I don't recall.

I don't think that...
If we did, it wasn't...

It wasn't a major topic
of our conversation.

Narrator: Spitzer's enemies
were beginning

to talk to each other.

To push the attack on Spitzer,

Joe Bruno hired
a political operative

who reveled in his reputation

as the country's most notorious
dirty trickster, Roger Stone.

Here you have Mr. Clean,
the Sheriff of Wall Street,

someone for whom ethics
is his signature issue

charging that Bruno is...
is dirty.

This is a tyrant,
a megalomaniac,

a would-be dictator who really
believes that you...

In government, you somehow
either have the right,

by getting a lot of votes
or being born to privilege,

to just issue orders
and people do what you say.

Stone was this, like,
legendary figure.

He had his hair dyed.

He was a "swinger,"
in literal terms.

And the reporters,
they were like...

They thought of him
as like a piece of work.

But they had, like,
affection for him,

because he didn't make
any bones about the fact

that he was such
a flawed character.

Even in his own
Republican ranks,

he was like, regarded
as, like, a maverick,

if not gadfly, if not lunatic.

But crazy-like-a-fox
kind of a guy, I guess.

Sure, I believe in a gonzo
brand of politics,

because you have to get...
You've gotta get people's attention.

In a world where there's
so much competition

for their attention politically,

and then there's
the rest of life:

sports, food, entertainment,
whatever it is.

You're competing for all
of that, because politics,

like all those other things,
is entertainment.

Narrator:
In 1996, Stone was fired

from the Dole
presidential campaign

when it was revealed
that he and his wife

had marketed themselves
as swingers.

"We are seeking similar
couples," said the ad,

"or exceptional muscular,
well-hung single men."

But that didn't stop Roger.

An elegant dresser
with a taste for martinis,

he reinvented himself
as a charming secret agent

with a license to kill.

He reveled in the body politic
and his own bodybuilding.

Just below his neckline,

he bore a tattoo of his hero
Richard Nixon.

Just a few weeks
after Bruno hired Stone...

( phone ringing )

...a mysterious voice message
was left on the phone

of Spitzer's 80-year-old father.

( beeps )

Man: This is a message
for Bernard Spitzer.

You will be subpoenaed to testify

before the Senate Committee
on Investigations

on your shady campaign loans.

If you resist the subpoena,

you will be arrested
and brought to Albany.

And there's not a goddamned
thing your phony,

psycho, piece-of-shit son

can do about it.

Bernie, your phony loans
are about to catch up with you.

You will be forced
to tell the truth,

and the fact that
your son's a pathological liar

- will be known to all.
- ( clicks, beeps )

We spent some time and effort
to see where it came from,

and it came from an apartment
that had been rented

by either him or a company
that he owned.

And the voice, we were able
to compare from the voice...

The message he'd left
on the voicemail...

To appearances
he had made on TV,

and we got a voice analyst to
say, "Yeah, it's the same voice."

And people who knew him said,
"Yeah, that's Roger Stone's voice."

The tape did sound
eerily like me.

Ultimately, private investigators
that I retained

determined that there
had been a tap on my phone

at 40 Central Park South.

I now believe that a rogue unit
of the New York State Police,

under the direction
of Eliot Spitzer,

who understood that we had
jujitsu-ed him on Troopergate,

was monitoring my calls.
In other words,

I think the tape
that was released was...

Was pasted together.
It was a... it was a...

It was a put-up job.

The FBI called my dad's office

and asked to come by.

Narrator:
On September 6th, 2007,

Agent Katzman from the FBI

visited Bernard Spitzer
at his Manhattan offices.

The questions didn't focus much

on what Roger Stone had done
or allegedly done

or the issues relating
to the phone call.

It was more about me.

Did you think anything
about that in retrospect?

Well, in retrospect,
I... it has crossed my mind.

And it crossed your mind
in what way, since then?

Well, wondering whether

this was part of the investigation
that led to my downfall.

The FBI showed up
at my apartment.

They just showed up at 8:00 a.m.

And they said,
"We want to talk to you.

We think you know
what this is about."

Agent... Agent Katzman
was the guy's name.

He... he wasn't very nice.

Narrator: Stone said that the FBI
also contacted him

and wanted to talk.

Stone: We could never
actually get a confirmation

about what they wanted
to talk about.

And I declined to have that interview
on the advice of my attorney.

Narrator: Bruno fired Stone
because of the phone call.

But Stone confirms
that he was then hired

by wealthy,
motivated Republicans

to stay on the Spitzer detail.

A few months later Rich Baum,
secretary to the governor,

received an email from Stone's
consulting company.

The question is

how did the investigation
of Spitzer begin?

The government claims it spotted

a suspicious wire transfer
of several thousand dollars.

What was interesting to me
is that the whole thing

comes from a single
money transfer

that sort of sent up a red flag,

a suspicious activity report.

Every day there are thousands
of these suckers filed.

Narrator: The Federal Clearinghouse
receives 3400

suspicious activity reports,
or SARS, every day.

Someone had to have taken

a very personal interest
in this particular transaction

and kind of shepherded it
through the process

in order for it to be the subject
of a lot of attention

and ultimately be
the basis for a case.

Narrator: The SAR was filed
by North Fork Bank

after Spitzer asked the bank
to keep his name off

a $5,000 wire to something
called QAT Consulting.

Barrett:
My understanding is that

they didn't even know
what QAT Consulting was

and that they called
Morgenthau's office.

Narrator: Robert Morgenthau,
the Manhattan District Attorney,

was surprised when
the federal government

came looking for help on how
to prosecute escort services.

The feds just didn't do
prostitution cases.

They also naively asked

if it was common
to prosecute customers.

The answer from
Morgenthau's office was no.

Barrett: Once they figured out
it was a prostitution ring,

then it seems to me you're
at a juncture in the road here.

Once you realize

that it's just a governor
with a hard-on,

the most you're gonna
get out of this

is a news story
and a resignation.

I think the government
has better things to do.

Narrator: The US Attorney
for the Southern District of New York

was Michael Garcia, the man
who had tangled with Spitzer

over the investigation
of Hank Greenberg.

Normally focused on terrorists,
mobsters and Wall Street,

Garcia's office was suddenly
spending enormous resources

to go after a small
escort service.

Garcia was a Republican.

Was this a political hit?

The Spitzer investigation
began at the very moment

when the Justice Department
was involved

in a huge scandal of its own.

And the issue was whether
the Justice Department

was hiring and firing US Attorneys
based on politics,

and whether it was going after
powerful Democrats

in order to get rid of them.

The only banking activity
that seemed to interest them

was Eliot Spitzer's
banking activity, you know,

as we sunk deeper and deeper

into this horrendous
banking scandal

that's convulsing the country.

Suspicious banking activity
by Eliot Spitzer

and the United States
government was on the trail.

Narrator: After notifying
superiors in Washington,

the US Attorney's office
obtained permission

to wiretap the phones and emails
of The Emperors Club.

The night before,
it's like 8:00 p.m.

We're both sitting
at our computers.

And all of this information,
like our client information,

is being sucked out
of the computers.

And we're like, "Oh my goodness,
we have hackers."

We download some kinda,
like, encryption software,

and try to, like, save our
information, whatever is left.

And then we go to bed as usual.

And 6:30 a.m...
Bang bang bang.

It's the FBI.

Okay, shock.

( knock on door )

Suwal:
I was certainly unprepared

to just be woken up
out of my sleep

at 6:30 a.m. and, you know,
have the FBI come

in their bulletproof vests

asking me if there are
firearms in the house.

You know, I mean, just...
And all I'm thinking,

I'm like, "That cash is gonna
get us in trouble."

Narrator: Cece and Mark Brener
had nearly a million dollars

in cash in a safe in their closet.

The guy came in,
one of the FBI men.

He came in and he was like,

"We are closing
Emperors Club VIP."

And I was like, "Oh oh!

My God, my stomach,
my everything, my baby."

It was just surreal.

I mean, that was like my child.

The essence of what
went on here was,

in federal-law terms,
a violation of the Mann Act.

Narrator:
Known as the "white slave act,"

the Mann Act made it a crime
to transport women

across state lines
for immoral purposes.

That is why federal prosecutors
were particularly interested

in out-of-town dates
with "Angelina" and Ashley.

In recent years, it's used to go after
child-prostitution rings.

It is never used to prosecute
johns or customers.

Scott Horton: We have to look
at these statutes

in terms of standards
of enforcement.

Is this statute in fact
being enforced that way

uniformly across the country?

And the answer is it is not!

Narrator: Why then did the Department
of Justice want the case?

After months
of investigating Spitzer,

Michael Garcia's deputies
suddenly sent emails

to Washington seeking support
for using the Mann Act.

Wiretaps revealed many customers

who paid for escorts
all over the world.

But Garcia's office
was only interested

in prosecuting one
of the customers.

They pressured me...
Like they do on TV.

And they said, "We know
you worked for this agency

and we want you
to look at some pictures

and tell us if you
recognize anyone."

And I did that

and Eliot Spitzer was in there.

And I said yes, I recognized
him and yes, I had seen him.

And I said, "Should I maybe
have a lawyer?"

And they said, "Well, we want
to keep this confidential."

The main thing
about that meeting

was that they were
very insistent

and pressuring me
in an uncomfortable way,

you know, for me to admit
that I had sex with Eliot Spitzer.

You know, why him
and why not anyone else?

All you have to do is
lay this case side by side

with the DC Madam case
and look at the way

the prosecutors behaved
in Washington

and the way they
behaved in New York.

And it's like night and day.

They're constantly
making clear that,

"No, we're just after the madam
and we're after the business.

We are not interested
in the customers."

Narrator: In the DC Madam case,
two high-profile Republicans

were discovered using an escort service
in Washington DC.

Senator David Vitter had actually ordered
prostitutes

during roll-call votes
when he was a congressman.

He apologized,
but he did not resign.

Horton: David Vitter is still sitting
in the Senate. He never left.

Nor was there ever
any pressure brought

by the federal government
for him to leave.

And what's the difference
between these cases?

One case involves
two prominent Republicans

and the other involves
a Democrat.

That's the only difference, frankly.

Narrator: The question remained:
how did the U.S. government

first find out about Spitzer?

Was the FBI tipped off
by one of Spitzer's enemies?

Stone:
I was in a private club...

An adult-themed club in Miami
called Miami Velvet.

There was a woman
sitting at the bar.

I was sitting at the bar.

And we began a conversation
and I asked her what she did.

And she said she was
professionally a call girl,

but she wasn't working
this particular night.

I said, "Well, you know,
what, who are your...

What kind of clients
do you have?"

You know, she had athletes.
She had captains of industry.

She had prominent businessmen.

She had politicians and so on.

And I said, "Well, like who?"
She said, you know,

"I recently... I was...
I almost had a date

with the Governor
of New Jersey."

I said, "Jon Corzi...?
You had a date with Jon Corzine?"

She said, "Who's he?
I had a date with Eliot Spitzer."

I said, "No, Eliot Spitzer
is the Governor of New York,

not New Jersey."

She said, "Yeah well,
I'm not into politics."

I said, "Was there
anything else notable?"

And she said,
"Well, he was kinda weird."

I said, "Well, what do you mean?"
She said, "Well, he kept...

He had these black knee socks
and he kept them on the whole time."

So I ask you: what kind of guy
fucks with his socks on?

( chuckles )
The black-socks thing isn't true.

He wore low-cut socks

and he took them off.

Stone: The next day I discussed it
with my attorneys

and I asked them
to contact the FBI

and tell them what we knew
in a formal letter.

Now I don't claim

that this was a revelation
to the federal investigators.

It may have been a piece of a
puzzle that they were putting together.

I may have started an investigation
in an area they weren't looking at.

I have no idea.
And I haven't made any claim.

Narrator: The FBI insists
that it never received

the letter from Stone's attorney.

( horn honking )

Spitzer: It wasn't an addiction.
It was a desire,

the need to find an outlet
that was not within

the very confined world
that I had been living.

Interviewer: Had you found
a way to completely

compartmentalize it so that
it was this over here, and...

Yeah yeah.

And was that the...
Was that the...

The beauty of it, in a way,
as you saw it?

Look, I don't want to go there,
but it... it did not affect governance.

And in fact, I can say
with real certainty

in February, March of '08,

people were beginning to say,
"Hey, wait a minute,

their strategy is working."

We were winning
the political races,

getting the economic
agenda in place.

People were beginning to see
that the chess game was playing out.

- ( applause )
- Spitzer: Join me in good faith.

I will meet you
with an open hand.

For we will realize
this opportunity best

if we work together
in a spirit of cooperation.

( applause )

Man:
We'd been through so much.

And we had had a very successful
State of the State address,

we had a great
budget announcement

and we really thought
we were turning the corner.

In fact, we were at a bar
and one of the senior advisors

to the governor
raised his glass,

in what I'm sure was
the moment that jinxed us all,

and said,
"To turning the corner!"

Well, we didn't turn the corner.

Man:
This prostitution business,

referred to as
The Emperors Club VIP,

was an international
organization...

Narrator: On March 6th,
the Department of Justice

brought charges against the four
people who ran The Emperors Club.

Prosecutor: In addition with
the prostitution offenses,

they are charged
with money laundering...

Narrator: Two things caught
the attention of reporters:

the high prices paid
to the escorts

and the highly unusual appearance,
in a prostitution case,

of members of the public-corruption unit
of the Department of Justice.

Interviewer: When did you
first have an inclination

that you were gonna have
a serious political problem?

The Thursday

when it was announced

that a case had been made

against The Emperors Club.

Interviewer: And when that came out,
what did you think?

I said this is an issue.

Narrator: The FBI wiretaps
of The Emperors Club

intercepted more than 5,000 phone calls
and text messages

and more than 6,000 emails.

They knew where I had been.
They had dates and times.

On one trip, the Booker and I were
texting back and forth.

You know, like she would say,

"He's there now
and he's ready to see you."

And I would say, "Okay,
I'm heading over there."

They said, "Look,
we already know all about you.

We know that you were
at this hotel at this time

and 10 minutes later
you were here.

We know this."

Narrator: The list of charges
against The Emperors Club,

the affidavit,
was surprisingly detailed.

As a piece of writing,
it was crafted like a mystery story,

full of clues.

It teased the reader
with a few sentences each

on Clients One to Eight;

and then five riveting pages
on Client Number Nine

and his one date with "Kristen,"

otherwise known as Ashley Dupré,

at the Mayflower Hotel
in Washington, DC.

The affidavit was filled
with all sorts of crucial details

that allowed reporters to go off

and find out
who Client Nine was.

Barrett:
"The Times" won a Pulitzer

because they went down
and, you know,

they did things like they
went to every major hotel

in Washington and figured out
who was in that suite,

in which hotel, 'cause they didn't know
which hotel he was in.

Narrator: The affidavit was full
of steamy sexual banter

and concerns about whether
the client was difficult

or even safe.

Was the writing meant
to convict the accused

or embarrass the client?

An FBI guy with sandy-colored
hair and a mustache

brought up something
from the wiretap.

He said, "We heard that sometimes
you were asked to bring sex toys."

And the guy kept pressing me.

It was like he wanted to get
some kind of information

about some kinky sex stuff
or something juicy that happened.

You know, like the governor's
into whatever.

And I flat out said,
"I don't see how any of that

is relevant to your
investigation to prosecute

what you're trying to prosecute."

There was nothing.

Maybe some sexy lingerie
or something,

but that was all I ever took.

There were a number
of leaks in this case,

most obviously
to "The New York Times."

But a couple of New York TV
stations also were on to the story.

And the Albany "Times Union"
got sent

the criminal affidavit
in The Emperors Club case.

And its reporter
was told specifically

to look at Client Nine
and told that

he was a wealthy New York
public official.

Narrator: Eliot Spitzer was never
charged with any crime.

So you really have
to wonder whether or not

the purpose of the investigation
at some point became the leak.

Some breaking news
this afternoon.

"The New York Times"
is reporting

that Governor Eliot Spitzer
of New York

has informed some of his
senior administration officials

that he had been involved
in a prostitution ring.

I recessed the conference.

We went into my office,
the whole conference and had the TV on.

Reporter: Cheers erupted on
trading floors around the city

as word spread of Governor
Spitzer's stunning downfall.

Some traders reportedly broke out

bottles of champagne to celebrate.

Narrator:
They weren't the only ones.

Four diners at the 21 Club

claimed that they spotted
Dick Grasso,

Hank Greenberg and Ken Langone

celebrating Spitzer's fall
with a magnum of champagne.

Woman: Would you say that you were
surprised by this news?

Not at all.
I had no doubt

about his lack of character
and integrity.

It would only be a matter of time.

I didn't think he'd do it this soon.
Or the way he did it.

Barrett:
We do know that Ken Langone,

you know, told CNBC shortly

after all of this broke

that he had a friend
who was in the post office.

I know for sure he went
himself to a post office

and bought $2800 worth of mail orders
to send to the hooker.

- How do you know that?
- I know it.

Barrett: Why is CNBC sticking
a mike underneath his mouth?

Because he was

enemy number one.

Spitzer's now... it's his turn.

And the guy is in back of him,
you know, when you wait in line.

The guy's in back of him
waiting to buy a money order,

and Spitzer goes up and buys
$1800 worth of money orders.

Okay, so you're saying that
he said he had a friend

who stood behind Eliot Spitzer
in the post-office line,

overheard him sending
a money order for a prostitute.

I mean, this is
too amazing to be true.

It was totally coincidental
that somebody tells me this

an hour before that.

That's God at work,
I'm telling you.

Here's God saying
here's a little bit more for you.

Barrett: Unless you think
Ken Langone has friends

who call him from post offices,
my hunch would be

that it was someone closer
to him than a friend.

Interviewer:
What do you mean

"someone closer to him
than a friend"?

An employee, a consultant, a...

You know, somebody
that he hired to be there.

That would be my hunch.

But it's, you know,
do I know that?

Is he gonna tell us that?
He said it was a friend.

Why he volunteered
this information...

He just couldn't stop
himself from crowing.

I didn't have any
private eyes on him.

I didn't have any dirty-tricks guys
on him; none of that.

"I knew before the rest
of you guys."

Well, how did he know?

I don't know, but I did discuss it
with the governor

and the governor felt like
he was under surveillance.

He thought he was
under surveillance.

( siren wailing )

The day I gave my proffer,

I walked out of the courthouse

and there were journalists
suddenly everywhere.

I went straight to the bar.
I had a couple of drinks.

And I was sitting in the bar
and a news reporter

sat down next to me
and said, you know,

"What do you think
of the Eliot Spitzer news?"

And I was like, "Oh my God,
they've got me already!"

I was, like, freaking out.

Narrator:
The very day the news broke,

there were messages
on "Angelina's" phone

from reporters
who wanted to talk.

Mysteriously, they knew her
real name and her phone number,

information only available
to the government investigation.

"Angelina" left town
and never returned the calls.

( techno music playing )
? How long, how long?

♪ How long,
how long... ♪

I do not believe that politics,
in the long run,

is about individuals.

It is about ideas,
the public good

and doing what is best
for the state of New York.

But I have disappointed
and failed to live up

to the standard
I expected of myself.

I must now dedicate some time

to regain the trust
of my family.

I will not be taking questions.
Thank you very much.

I will report back to you
in short order.

- Thank you very much.
- ? How long, how long?

♪ How long, how long. ♪

Stiles:
Everybody was just in shock.

I was angry
and that was the last thing

I ever would have expected
of him to have done.

My heart broke for... for Silda.

I knew Silda very well
and his family.

And they'd always seemed
to have such a strong

relationship and a bond.

Dopp: He was like, you know,
so straitlaced as to be,

like, laughably straitlaced.

At some social event, Eliot said that
he had met Penelope Cruz.

And at the time she was
the hottest star out there.

And I said, "Wow, that girl
is amazing, isn't she?

She's dynamite, no?"
And his response to me is,

"I could see how some people
might think she's alluring."

And I just said to him,

I said, well, "Wow,
what are you talking about?"

But yeah, that was Eliot.
That's why this notion that,

you know, there would be
someone other than Silda

was such a shock.

Interviewer: Did you learn
something about your wife

that you didn't expect in this...

As a result of this experience?

I wish I hadn't
needed to learn it,

but I learned that the depths
of her forgiveness

are deeper than are...

ever to be called for.

Narrator:
After the initial announcement,

Spitzer considered his options.

Despite her pain,
his wife encouraged him

to stay on as governor.

Calls went out to the leaders
of the State House and Senate.

No one would support him.

The reservoir
of goodwill was empty.

The combative style

left him without friends
and defenders in the end.

Spitzer: The only relevant
question really was

what can I do to minimize

the continued pain to my family?

And it seemed to me that

to fight to retain
the office at that point

would make it even longer,
uglier, more painful

than to take the alternate path.

So I resigned.

From those to whom much is given,
much is expected.

I have been given much:
the love of my family,

the faith and trust
of the people of New York

and the chance
to lead the state.

I think I was in shock first

because I saw Silda
standing there.

We've seen so many
women standing there,

behind their man.

And many women just felt,
you know, this is enough.

Narrator: Intrigued by the cultural
issues of the scandal,

performance artist Karen Finley
wrote a one-woman play

about the intersection
between sex and state.

The public performance
of this private moment

was... was just so voyeuristic.

The painting in our mind
of what we weren't seeing...

this very personal,
sexual, private act.

♪ You never know
how much I love you ♪

♪ Never know
how much I care... ♪

I'm not the most politically-correct
person in the world,

and I saw Eliot later
after this whole thing

and I said, you know,

"You could have run in France
on this and won," so...

♪ When you kiss me ♪

♪ Fever when you
hold me tight ♪

♪ Fever in the morning... ♪

Barrett: Eliot Spitzer is a joke,
a national joke.

He is like the poster boy

of a man out of control.

But these other guys aren't;

these other politicians aren't.

I mean, Bill Clinton is
one of the most popular

figures in American politics

and he got a blowjob
in the Oval Office.

♪ Do you remember ♪

♪ When we met ♪

♪ That's the day ♪

♪ I knew you were my pet ♪

♪ I want to tell you ♪

♪ How much ♪

♪ I love you. ♪

( vocalizing )

He had sex.
Oh my God!

Kill him.

Burn him at the stake.
You know?

I hope when history
looks back at that

they say, "Gee, changed the way
Wall Street operates;

went after, you know,
environmental abuses;

you know, went after
the insurance-company fraud;

went after this."
And then on this side,

"Had sex in a Washington
hotel room."

Matt Lauer: He resigned
13 months ago and has remained

largely silent until now.

With the US economy in turmoil,
the man once known

as the Sheriff of Wall Street is back.

Governor Spitzer, good morning.

- It's good to see you.
- Good morning, Matt.

I've heard rumors
that he's trying

to figure a way out to get
back into public life.

I mean, the guy's got skin
like that, okay?

I mean, that... that thick.

Narrator: After his resignation,
Spitzer watched

as his Wall Street reforms
were attacked and rolled back

by investment banks
and the federal government.

He had been on to the very
issues that almost did us in

and collapsed
the financial system.

These are the guys that got us
to the brink of disaster.

And Eliot Spitzer was after them
years before the collapse occurred.

Goldman Sachs will have a profit

that we estimate of about
$12 billion last year.

That is precisely
what taxpayers gave them

to help them get bailed out
from their AIG exposure.

Banks should be lending
to people who have

a repayment schedule,
who produce something.

It should be an old-fashioned,
boring business.

And then you grow an economy.

The outrage is
because it is our money

that is subsidizing
these crazy bonuses.

Narrator: As Spitzer began
reappearing in public,

so did Ashley Dupré.

With uncanny timing,
it seemed that Ashley appeared

on Fox TV or the cover
of the conservative

"New York Post" whenever Spitzer
made public appearances.

Hi, I'm Ashley Dupré.

I used to be on the front page
of the "New York Post."

Now I'm writing for it.
That's right.

I'm the "New York Post" 's
new advice columnist.

Ask me anything about love,
sex, and relationships.

A lot of people around the country
are discussing Eliot Spitzer's efforts,

and that's what it clearly is,
to rehabilitate himself.

Senator Joe Bruno,
of the great capital district.

Good morning, Senator.
Thank you for being with us.

- I think he needs therapy.
- I agree.

They oughta help him
to get himself rehabbed.

Assuming he can.

Because people like this
are very dangerous.

Roger Stone, let me ask you about
what's going on now with Eliot Spitzer.

Well, Senator Bruno
is essentially correct;

the man is a psycho.

Don't bust people
who are running call-girl rings

if you yourself
are gonna patronize one.

I mean, the man's
entire life is a lie

and I therefore thought this
fight needed to be finished.

Narrator: Roger Stone's campaign
against Spitzer

continued with his promotion
of Kristin Davis,

a convicted madam
who claimed to have

supplied escorts
to Eliot Spitzer.

New York law enforcement says

there's no evidence of any link.

But newspapers continue
to print her claims anyway.

In March 2010,

Stone backed her
as a candidate for governor.

I am running
for Governor of New York.

Interviewer: What do you think about
an Eliot Spitzer comeback?

Look, I can't forecast it.
I hope not.

- I hope what he did...
- Interviewer: You think it was...

Yeah, he thought
he was above the law.

The law didn't apply to him.

Woman: What do you think
is next for Governor Spitzer?

You know, we all have
our own private hells.

I hope his private hell is
hotter than anybody else's.

Interviewer:
Ken Langone

and Hank Greenberg
are powerful enemies.

Did it ever concern you

that they might have played
a role in your downfall?

I guess it didn't
concern me enough.

You know, look, not to...

sort of mince words,

there are all sorts
of rumors about

their helping or taking
credit occasionally

for bringing me down.

My view is I brought
myself down,

and I will not try
to blame others

or excuse my behavior.

I did what I did and...
And shame on me.

If they were involved
in unearthing it,

okay, so be it.

That isn't my concern right now.

What I did in our investigations

of the companies obviously
I believe it was right.

My personal behavior that led
to where I am right now

was obviously wrong,

violative of everything
I hope I believe in.

And I make no excuses.

Finley: We want
our political people to be God.

And maybe that's
the biggest problem for us...

Is that he's a human being
and he's not God.

This isn't just
a national narrative,

but it's an ancient narrative
that happened,

that has to repeat itself

into our culture because
it is unresolved.

Aside from
your journalism career,

your column, you're also
a lovely singer.

Before... and I want you
to come back

and be a regular columnist
for us as well.

I would love to, thank you.

But can you give us
a little Christmas... Christmas cheer?

- Oh my God, on the spot.
- Sing us something.

- Okay okay.
- Uh, go ahead.

♪ The weather outside
is frightful ♪

♪ The fire is so delightful ♪

♪ But since you've
no place to go ♪

♪ Let it snow,
let it snow ♪

♪ Let it snow. ♪

Geraldo: Ashley Dupré.

Man:
Yeah, New York, stand up.

♪ Start spreading
the news ♪

♪ Start spreading the news ♪

- ? I'm leaving today?
- ? I'm leaving today?

♪ I wanna be a part of it,
New York, New York... ♪

Gold went up to 1040 today.

There was a huge panic
about inflation

and the Arabs wanting
to be paid for their oil

in a currency other than US.

But I think that's
just a temporary rumor.

But it did have serious impact.

- ? New York?
- Man: ♪ Yo, it's so deep ♪

♪ I woke up in the city
that don't sleep ♪

♪ Got me up all night like
a sink with a slow leak ♪

♪ Holds me in its grips... ♪

There's a couple of people
that I'd like to do that to.

( laughing )

Man: ♪ And this must mean up
in here comes... ♪

Okay, the Governor of New York
is using our service.

How bad can what
we're doing be? Right?

♪ NYC... known as where you go
to become the person you wanna be ♪

♪ Look, you got some
small-town blues ♪

♪ You're trying to lose,
we got a big city here ♪

♪ To abuse your virtue,
it might help you or hurt you ♪

♪ Save or desert you ♪

♪ Get close to bright lights,
might burn you ♪

Woman: ♪ Start spreading
the news... ♪

It's virtually worthless.

About-about 100...

About $100 million.

♪ New York, New York ♪

♪ New York,
New York ♪

- ? These vagabond shoes?
- ? These vagabond shoes?

♪ Are longing to stray ♪

♪ The very heart of it ♪

♪ New York, New York ♪

♪ Feel me ♪

♪ New York, big city
of dreams, big schemes ♪

♪ Petty hustles on the corner
claim they're doing big things ♪

♪ Winning battles, never wars,
doing dirt-like chores ♪

♪ Never know who's telling lies
but the city keeps score ♪

♪ Good place to watch your back
and back-watch your front too ♪

♪ Jump too high,
someone is quick to bump you ♪

♪ Stuff you in a trunk
with a lump when you come to ♪

♪ And then everyone's committing crime
to steal enough food ♪

♪ Trudge through the urban jungle
and you'll see some things ♪

♪ New York eats its young
and defeats its kings ♪

♪ Projects to penthouses,
Park Ave to the hood ♪

♪ Win or lose
you can't choose ♪

♪ You take the bad
with the good ♪

♪ And the upside is higher
than the sky above the 'scrapers ♪

♪ If you're looking for fame,
power, influence or paper ♪

♪ Make your move but don't think
your little lunch comes free ♪

♪ It's granted by the higher
power known as NYC ♪

- ? These little-town blues?
- ? These little-town blues?

- ? Are melting away?
- ? Are melting away?

♪ I'll make a brand-new
start of it ♪

- ? New York, New York?
- ? New York, New York?

♪ If I can make it there ♪

♪ If I can
make it there ♪

♪ I'll make it anywhere ♪

♪ It's up to you New York ♪

♪ New York ♪

♪ New York, New York ♪

♪ New York,
New York ♪

♪ New York City ♪

♪ New York, New York ♪

♪ New York City
is the place ♪

♪ New York,
New York ♪

♪ New York City is
the place to be ♪

♪ New York,
New York ♪

♪ New York City is
the place to be ♪

♪ Ba-Ba-da
Ba-Ba-Ba-da ♪

♪ Ba-Ba-da
Ba-Ba-Ba-da ♪

♪ Ba-Ba-da
Ba-Ba-Ba-da ♪

- ? Start spreading the news?
- ? Start spreading the news?

- ? I'm leaving today?
- ? I'm leaving today?

♪ I wanna be a part of it,
New York, New York ♪

- ? These vagabond shoes?
- ? These vagabond shoes?

- ? Are longing to stray?
- ? Are longing to stray?

♪ Right through
the very heart of it ♪

♪ New York, New York. ♪

( vocalizing )

( music fading )