Former NY Gov Spitzer: Regulate the regulators

WASHINGTON (Reuters) - Former New York Gov. Eliot Spitzer, who drove a crackdown on Wall Street before being brought down by scandal, said U.S. financial reform should target federal regulators as well as big banks.

"We have not reformed the system," Spitzer told the CBS "Early Show" on Monday. "We still have institutions that are too big to fail, institutions that have received billions ... of taxpayer dollars are not investing that back into the system to create jobs for the future.

"We have a regulatory system that is utterly in disarray."