Former
In a letter to Grasso, AIG Chairman Maurice "Hank" Greenberg complained that
AIG is one of the largest stocks on the Big Board, and Grassos actions raises questions as to his relationship with Greenberg, who, coincidentally, served as a NYSE director and member of the boards compensation committee.
Grasso was forced to resign last month amid an uproar over his acceptance of a $187.5 million deferred compensation and retirement package.
Edward Kwalwasser, executive vice president for regulation at the NYSE, told The Journal he had no knowledge of any discussions between Grasso and the specialist. "As the specialist, we commit capital to facilitate orderly trading and this involves the assumption of risk. We do this for all our clients," Goldman said in a statement.
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