Calling off the watchdogs.

The article looks at a March 2006 speech by New York attorney general Eliot Spitzer, who is the leading candidate for governor and is declaring war on big business. Spitzer extracted billions in penalties and brought down some of Wall Street's biggest businesses by attacking tainted stock research, exorbitant pay, and insider trading. However, in his speech, Spitzer confessed some misgivings about the reform agenda he helped champion because of the large burdens it places on small companies.