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Article: Grasso Fiasco Illuminates Other Problems at New York Stock Exchange.
- Article from:
- The Philadelphia Inquirer (Philadelphia, PA)
- Article date:
- September 19, 2003
CopyrightCOPYRIGHT 2003 The Philadelphia Inquirer. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Miriam Hill
Sep. 19--NEW YORK--The chief executive has resigned in the midst of alleged improprieties. Members of the board of directors say they were not fully informed. The Wall Street Journal is calling for more heads to roll.
It sounds like just another corporate scandal. But this time, the name in the news is the venerable New York Stock Exchange. Its motto: "The world puts its stock in us."
After chairman and chief executive officer Richard Grasso resigned late Wednesday following revelations of his $139.5 million pay package, questions are swirling about whether investors can have confidence in Wall Street and about whether the ...