pension funds, making him instantly one of the world’s most important activist investors. That would be too taxing on the executive class, and they and their friends stick together. So women’s groups or other big-money donors can come up with some “legitimate” reason to oppose Spitzer, but nobody’s really fooled.
Wall Street initially put together a SuperPAC, “Forward NY,” to
funnel money to Stringer. Then, when it looked like Spitzer would win,
they abandoned the effort.
The big reason was that they would probably have to disclose their
donations, which would give Spitzer something of a hit list identifying
who tried to stop his candidacy (in addition, donors who also had
contracts with city pension funds would be breaking the law, and the disclosure would show it).