Hey-hey.
We certainly have another case of executive compensation VASTLY outstripping executive/regulator performance...
It occurs to me that before his raise, Mr. Grasso was being compensated on the order of an eighth of a billion dollars a year. Imagine working for eight years, socking away a billion dollars. Well, yes, we must suppose he pays a penny or two of taxes. But he'll also have many flesh-eating lawyers to keep his tax take minimal.
And the board that first gave Mr. Grasso WAAAAAAAAAAY too much, and then asked for his resignation, is still the board of the NYSE*!
I must admit that the hypocrisy of this board authorizing Mr. Grasso's raise and then demanding his resignation because he had the temerity to accept his pay increase makes all other hypocrisy pale in comparison.
The NYSE needs a LOT of change,
Well, there are guys all over New York getting change by standing on street corners.
Regards,
Jim http://www.ezez.com/
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