Former New York Stock Exchange Chief Dick Grasso pressured a specialist firm to purchase more shares of American International Group after the insurance company’s head complained about the stock’s volatility, The Wall Street Journal reported Friday

In a letter to Grasso, AIG Chairman Maurice "Hank" Greenberg complained that Spear, Leeds & Kellogg, the specialist firm owned by Goldman Sachs, was not committing enough of its own money to buy AIG shares. Subsequently, Grasso told Spear to step up the number of buy orders on the stock to prevent AIG from moving his company to a rival exchange, the newspaper said. As a result, Spear suffered roughly $14 million in trading losses over the past couple of years.

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