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Article: Grasso wins in the end.(Editorial)
- Article from:
- The Boston Herald
- Article date:
- July 6, 2008
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Copyright informationCOPYRIGHT 2008 Boston Herald. 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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Former New York Stock Exchange chief Dick Grasso has been rhetorically flogged from one end of Wall Street to the other for being a greedhead after taking $139.5 million in salary in 2003 and trying to take $48 million more in advance retirement benefits. But the attorney general of New York had no good grounds for trying to make him give up $100 million of it, and it's a good thing that a state appeals court has dismissed the lawsuit.
A victory for Grasso at trial would have reinforced the principle that a deal's a deal, a principle that could stand reinforcement these days. But no defendant is required to risk the chance of losing, just to reinforce a principle, if the ...
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