Prostitute-hiring former New York governor Eliot Spitzer is back in front of the TV cameras, talking about AIG! Good thing, because we need experts on the violation of financial laws. Watch him explain his "contribution."

Have we really been reduced to asking Eliot Spitzer to be an expert on "visceral" outrage? Leave aside his paid dalliance with call girl Ashley Dupré, or the money-laundering regulations he violated in arranging to pay her.

Here's the real outrage: Spitzer, by clamping down on Wall Street's biggest investment banks, drove their best and brightest to hedge funds, where they pursued even wilder schemes which eventually brought down their former employers. Yes, he stopped one category of abuses — while setting the stage for a whole new one. And up until the whole whore thing, it worked out great for him, landing him in Albany. But you'll never hear him discuss his "awareness" of his own role, as a supposed reformer, in helping bring about today's crisis.