Wednesday, May 09, 2007

Time For An End to the Grasso Witch Hunt

I've long argued that it's silly for the New York State Attorney General to pursue a jihad against former New York Stock Exchange chairman Dick Grasso. While there's no question that Grasso was obscenely overpaid, that is a matter between the NYSE and Grasso, and not a burden for the taxpayers of New York State and the understaffed Attorney General's office.

Yesterday a New York appellate panel threw out a major part of the state's case. It was, unfortunately, a rare split decision, which means that this case can be appealed to the highest court in New York.

Unfortunately, it seems that Attorney General Andrew Cuomo plans to appeal, and continue this waste of his office's scarce resources. He should put an end to this witch hunt and turn to consumer and investor issues that mean something to the people of this state.

© 2007 Gary Weiss. All rights reserved.


Wall Street Versus America was published by Penguin USA on April 6.
Click here for its listing and here for more information on the book, from my web site,

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