Friday, March 05, 2004
Dan Ackman, Forbes,
Dan Ackman, Forbes,
Dick Grasso Is Dangerous
NEW YORK - Back in Sept. 2003, the U.S. Securities and Exchange Commission sought information from the New York Stock Exchange on details of the outlandish pay awarded to its now former Chairman and Chief Executive Officer Richard Grasso.
Brendan Sullivan, Grasso's lawyer, stated "Mr. Grasso has no intention of returning any portion of his compensation to the Exchange. If the Exchange believes it has a valid claim, it should file it, rather than conducting a campaign through the press and intermediaries in an attempt to pressure Mr. Grasso."
Prosecutors are certain that Grasso knows what went on behind closed doors on the exchange, but are concerned that he could and would take any effort by the state to prosecute his misdeeds as an excuse to expose corruption all over Wall Street.
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Posted by Editor on 03/05/04 at 07:33 AM •
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