Grasso's $140 million payment

[packetjunkie]

Okay, so the guy is a "regulator" who considers himself "2/3rds businessman" - failed to control any of the out-of-control companies under his unbrella, indeed probably contributed to the whole bubble, and walks away with a $140 million payout with another $58 million promised (and later retracted)?

Compensation was set by people he hired within the industry he regulates - including a $28 million bonus set while the market was in full retreat?

Any nobody said anything sooner?

Those board members should be fired and Grasso should be sued to return the money.

[SRT Mike]

Agree 100%. I can't see how this ISN'T considered breach of fiduciary duty. He should be sued.

[Whitebeard]

I concur with the assessment, gentlemen. He should be held accountable.

[Lawrenzo]

I saw a story on MSNBC that this compensation was for a very long period of time- just so happens that it lumped sum right now-

You can't tell me that you blame this guy for what Enron, MCI, and all the other robber barons did can you? Was it Grasso or the institutional investors that demanded higher stock values.

Not that this guy was a saint, but he can't take the majority of the blame either. Either way, the witchhunt got it's marshmellow for the flame

[Chuck 98 RT10]

For me, it's just one more reason to stay away from the market unless you know what you're doing. I don't.