Insurance Brokers Sue Slate, Spitzer

Two insurance brokers have filed multimillion-dollar lawsuits against Slate magazine and former New York governor Eliot Spitzer over a column Spitzer wrote using them as an example of criminal behavior in finance. Though he didn't mention the two by name, he referred to their $850 million settlement in a case where they were accused of rigging bids and fixing prices and described their actions as "criminal conduct." The two lawsuits are seeking $60 million in federal court and $90 million in New York state court. Spitzer said Tuesday that the suits were "entirely frivolous," and Slate editor David Plotz called the charges "baseless."