Article: SOMETHING IN THE CITY ; 1) BUSINESS2) GRASSO'S BRASS

Dick Grasso. He looks like Alf Garnett but I believe he's slightly richer.

Yes, indeed. Grasso is the former New York Stock Exchange chairman who managed to get himself a $ 190 million pay- off when he was ousted in . He'd been at the organisation for years, rising from clerk to chairman, but was eventually forced out.

Why? He was awarded a deferred pay deal worth up to $ 140 e million. Problem was, the NYSE compensation committee that approved it was mostly from the very Wall Street companies Grasso was supposed to be regulating. A bit too cosy, said some powerful financial institution heads. The NYSE board met and voted for him to leave with a $ 190 million ...

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