Greg Palast has a great take on the Elliot Spitzer mess. Not quite a conspiracy theory, but certainly food for thought. The timeline goes something like:
Spitzer worked against the sub-prime mortgage criminals like Countrywide and Bank of America.
Spitzer's bank accounts get watched (by the banks of the Feds - doesn't really matter)
Spitzer gets caught paying a hooker.
Spitzer gets outed by the Feds, unlike other Republican-friendly public figures (think Senator David Vitter paying for "diaper service")
Spitzer resigns, as he should. But the subprime debacle loses one it's leading champions.

Makes my blood boil.