Dear friend,

We in the reinsurance business know all about cycles

Just as boom begets bust, we know that a meteoric rise often precedes an equally meteoric fall from grace.

The faster and higher the rise, the swifter and steeper the fall.

The laws of physics apply – the reaction tends to be equal and opposite to the action that created it in the first place.

And so it looks as if the Spitzer wave has broken on the beach and is rolling back out to sea.

If it has to be goodbye, so be it. So long, Eliot we’ll never forget you.

But you never know — in politics there’s always another wave coming along.

Lie low for a while, dear Eliot, tread water if you can, and you may surprise some with the force and speed of your comeback.

But nothing you do will ever surpise us!

We'll keep an eye out for you at Reinsurance Towers.