The Rumble Over Executive Pay

摘要

Wall Street Would love to see Eliot Spitzer realize his immediate political ambitions-becoming, say, Governor of New York or possibly landing a role in a Kerry Administration. Not that financial types wish him well; they just wish he would move on. As New York's attorney general, Spitzer, 44, has pushed through reform of stock-research and investment-banking practices, lobbied for a reduction in mutual-fund fees and left a trail of disgraced executives in his wake. Spitzer carved another notch in his belt last week. After drawn-out negotiations, Richard Strong, the former chief executive of Strong Capital Management, agreed to pay a $60 million fine and accept a lifetime ban from the securities industry to settle charges of improper trading. Spitzer will be at it again this week. He's expected to file a lawsuit seeking to force former New York Stock Exchange (N.Y.S.E.) chief Richard Grasso to return most of the $140 million in accrued pay he received shortly before signing under pressure last year.