New York State Attorney General Eliot Spitzer has put Vanguard founder Jack Bogle on his short list of New York Stock Exchange board members, replacing Citigroup Chairman Sandy Weill, who withdrew his name from the hat over the weekend, the New York Post reports. John Biggs, former chairman of TIAA-CREF, Peter Clapman, also an executive with the pension giant, and Sen. Howard Metzenbaum, current chairman of the Consumer Federation of America, are three other people Spitzer would like to sit on the board of the worlds most important stock exchange.
Wall Street responded with much rancor when NYSE head Dick Grasso nominated Weill, whose firm has paid a $400 million fine to settle a probe by Spitzers office that it issued misleading stock research during the 1990s bull run.
The staff of Mutual Fund Market News ("MFMN") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MFMN, and have not prepared, sponsored, endorsed, or approved these summaries.