Quick show of hands, who remembers how they finally caught up with Al Capone? That’s right – they got him on financial misdeeds – not the other crimes he committed. You have hand it New York’s Democrat Governor Eliot Spitzer (who once thought himself more of a Ness and less of a Capone we’re sure), at least he didn’t make things worse for himself by denying any of the things that have happened here.

You read the coverage of this mess as it unfolds, and what comes into focus is a guy who thinks the laws of this country apply to everybody else – and not himself. A guy who has, apparently, repeatedly used the services of this online prostitution service – with little regard for family, public, or self. And who knows how deep and sinister this international prostitution ring really goes – it’s not like the people who run this thing are the bingo hall ladies from St. Agnes the Redeemer (not a real church). They’re, AT BEST, organized crime (think mob types), and possibly closer to folks with links to international terrorists. Think it’s a stretch? Give it time, something even more sinister will bubble to the surface on this whole mess.

Oh, and on the whole he’s resigning, he’s not resigning thing when this all broke. We can’t take credit for the thought, but will echo it. CNN’s Jeffrey Toobin made the point the other night that Spitzer’s lack of resignation is part of a plea bargaining strategy to have his charges reduced. In short, he’ll tell prosecutors that he’ll resign as Governor if they reduce the charges. That Eliot Spitzer, always thinking like a lawyer – that’s probably brilliant and clinical legal thinking, but seriously flawed political and personal thinking. We’re afraid this former Democrat A.G. is on a collision course with reality real quick.

Heck of a Valentine’s Day present Governor Spitzer gave himself isn’t it?

The top question that remains in the case as of Tuesday morning was whether Spitzer would resign as governor of New York. If he does, Lieutenant Governor David Paterson would take his place.

But there are also questions about whether the original investigation into Spitzer’s money transfers may have been politically motivated.

Spitzer made a lot of enemies on Wall Street when he was New York State Attorney General. His office was responsible for banks separating its investment banking and research functions, which Spitzer claimed were too close for ethical comfort. His investigations into market timing, where brokers made multiple or late trades in mutual funds for hedge fund clients, resulted in firms paying billions of dollars in fees.

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