Let's be realistic about New York Governor Eliot Spitzer, a man many in the mutual fund industry detest for launching the timing and late-trading investigations.

Facing resistance in his efforts to reform Albany, it is entirely feasible that Spitzer ordered two of his aides to get state troopers to dredge up whatever dirt they could on his archrival, Republican New York State Senate Majority Leader Joseph Bruno, and to leak it to the press.

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