Eliot Spitzer's Comeback

In March, he's slated to appear as part of a debate series sponsored by Intelligence Squared US, which runs traditional-style debates in New York City. He'll argue against the motion: "Blame Washington more than Wall Street for the financial crisis."

In Spitzer's most recent column, published last week, he advanced an intriguing argument aimed at saving American automakers by forcing a major downsizing, with a market-themed approach to government intervention.

"Why don't we tell the current Big Three that $25 billion in capital is available -- but only to two of them? The surviving two will be those that submit the best, and final, binding bids, supported by all the necessary constituencies: boards, managers, suppliers, vendors, creditors, and the UAW," Spitzer wrote.

Spitzer's First Column

His first Slate column sought to discredit the notion that some financial institutions are "too big to fail."

"It is time we permitted the market to work: This means true competition with winners and losers; companies that disappear; shareholders and CEOs who can lose as well as win; and government investment in the long-range competitiveness of our nation, not in a failed business model of financial concentration and failed risk management that holds nobody accountable," he wrote.

Sheinkopf said he sees a big role for Spitzer in public debates -- though almost certainly not in public office. He noted that Dick Morris, a former Bill Clinton strategist, navigated his way back into becoming a commentator and columnist after a sex scandal of his own.

"He doesn't have to be on the ballot," Sheinkopf said of Spitzer. "He wants to be in a position where he can exert influence, where he's not a pariah, where people want to hear what he has to say."

Sloan said Spitzer should be viewed and judged based on the quality of his arguments -- not on mistakes in his personal life.

"He has a great platform now for dealing with the issues," he said. "It is what it is, and that's how it should be viewed."

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