Check this out: http://www.huffingtonpost.com/2008/03/10/stock-exchange-cheers-new_n_90796.html?view=print
They have good reasons to cheer. Spitzer was one of the very few guys willing to take on Wall Street.
That's how masters of universe have fun, oder? "Life shrinks or expands in proportion to one's courage." - Anaïs Nin
Still, it sucks.
Dropping his guard like this is ludicrous.
Maybe it was because they were tapping Spitzer that they got onto the prostitution ring. "Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky