"Where have the SEC and Congress been? They have permitted the mutual fund industry to get away with its claim of purity," Spitzer told the Post. "The claims of purity were just one more manifestation of the industrys arrogance."
And again, he indicated that his investigation is likely to implicate a number of firms, saying: "We have simply tapped the window, and the whole thing shattered." Spitzer has earlier stated he expects some fund executives will serve jail time.