Spitzer files lawsuit against ex-NYSE boss

[dArKeR]

NEW YORK - The state attorney general’s office sued former New York Stock Exchange chief Richard Grasso, the exchange itself and a former board member Monday, saying Grasso’s $187.5 million compensation package was “wholly inappropriate and illegal.”

Attorney General Eliot Spitzer announced the action at an afternoon news conference that followed a four-month investigation into the controversial pay package. Grasso resigned as NYSE chairman and CEO last September amid intense criticism of his pay.

The attorney general’s suit asked that a State Supreme Court judge rescind the pay package and determine a “reasonable” level of compensation for Grasso. It names Grasso, the NYSE and Kenneth G. Langone, a former NYSE board member and ex-chairman of the exchange’s compensation committee.

http://msnbc.msn.com/id/5052096/

[Warpy]

1. I adore Eliot Spitzer

I would hope he'd be considered as a candidate for AG in Kerry's cabinet. He's just the kind of man who needs to get that job, willing to go after the pigs who have been grabbing everything in sight while the rest of us face falling wages and a social safety net that is all holes and no net.

[bullimiami]

2. You are so right.

He would make a formidable AG.

[smirkymonkey]

3. Now he needs to go after O'Neill

of Merrill Lynch and the rest of the Repub crooks on Wall Street.