Cuomo: political advancement

Tuesday, March 11

New York state Attorney General (NYAG) Andrew Cuomo has followed in the footsteps of his now-beleaguered predecessor, New York Governor Eliot Spitzer, in aggressively pursuing a pro-consumer regulatory agenda:

• These initiatives have filled a regulatory gap opened by President George Bush's generally hands-off, market friendly approach.
• Cuomo's investigations cover a broad spectrum of policy areas, which, following the Spitzer pattern, tend to target conflicts of interest whereby companies have allegedly exploited consumers.
• Some Cuomo initiatives emphasise key Democratic electoral themes, including healthcare, and reflect a more pro-active approach to the sub-prime crisis.

Spitzer's woes could present Cuomo with an opportunity for political advancement, which may further stimulate his populist investigations of industry practices. However, if a Democrat enters the White House in January 2009, Cuomo's role will likely be much more circumscribed, as more federal resources are likely to be targeted to a consumer-friendly agenda.