The fall of a politician is never that surprising. But what struck me about the political demise of now-former Gov. Eliot Spitzer was the rejoicing over his self-inflicted wounds.

Few words of sympathy were expressed for Spitzer, although many went to his wife and family. And he probably doesn't deserve much, either. Power, money and privilege marked his life. Most recently, the public and voters stood behind him as he declared himself a champion of the people, vaulting him to the governorship of New York State. He was seen as a bright light in the Democratic party. He had the potential to go as far as the White House, some pundits said. Now, that future is gone, snuffed out in an old-fashioned sex scandal.

If Spitzer received little sympathy, it's because so many people saw him as arrogant and hypocritical. After all, Spitzer, who reportedly spent thousands of dollars using the services of high-priced call girls, prosecuted prostitution rings with much fanfare. And, consider what one bank industry official told OWS editors Lee Conrad and Helen Kearney as they reported on the gubernatorial resignation. "A lot of what Spitzer had been doing was pure demagoguery to help his own cause more than investors or voters." (See "Spitzer Out, Unknown In.")

If Spitzer didn't leave office, his Republican adversaries were ready to impeach him. Published reports show that all the people he had steamrolled in recent years could barely hide their glee.

While the Spitzer story has grabbed headlines everywhere, dominating the pages of OWS this month is the global story: "The New Frontier."  Associate Editor Helen Kearney reports on how the oil-rich Middle East is attracting the likes of Morgan Stanley and Merrill Lynch in "Managing the Petrodollars." There's a growing demand for financial advisors to manage the extreme wealth of that region. There is a greater tolerance for risk among Middle Eastern investors, Kearney discovered. Because of the changes they've seen in their own countries in recent years, they're more willing to take chances, says one private banking official.

Contributor Milton Ezrati also looks beyond the shores of the United States in "Trouble In China's Paradise." Unlike those who are rapturous over China, Ezrati takes a more practical view. China isn't perfect. It has promoted export growth by keeping its currency-the yuan-cheap to the U.S. dollar. And, the Chinese government hasn't pushed consumer spending which would help spur greater development, he argues. Read more of Ezrati's views on China.

Also taking on the global theme is contributor Kunal Kapoor in "The Market That Roared." He talks about how to invest abroad-but in a sensible manner. Kapoor points out: "If you're going overseas to chase performance, it's a bad idea. In fact, there's a high probability that you'll be disappointed in the near term."

Not every topic in OWS this month focuses on global issues. Take Danny Sarch, one of our regular Careers columnists. Sarch explains just how forgivable loans work and how the taxes behind them are handled. In "Everything You Always Wanted To Know About Upfront Money," Sarch sets out the pros and cons of these transition deals.

As always, I want to know what keeps you coming back to OWS, so send me your opinions.

Sincerely,
Frances A. McMorris, editor-in-chief