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2008 not a great year for Dick Grasso’s enemies

By Laurie Bennett

December 30, 2008 at 8:57am

The past year has brought devastation to most on Wall Street, but for ex-powerhouse Dick Grasso, there has to be a bitter pleasure in watching so many adversaries knocked from their perches.

New York Gov. Eliot Spitzer, who had targeted Grasso for making so much money as head of the New York Stock Exchange, resigned in March because of his alleged involvement with a prostitute. In July, an appeals court overturned the case Spitzer had initiated against Grasso.

Henry Paulson, who led the drive to fire Grasso, has spent recent months squirming before TV cameras and angry members of Congress, trying to explain how the financial collapse happened on his watch.

And now Bernard Madoff, former head of NASDAQ and a long-time opponent of the NYSE, is under house arrest, accused of leading a $50 billion Ponzi scheme.

It took years for the cloud to pass to his foes, but for Grasso, known for his love of fine wine and good Italian restaurants, revenge may well be a dish best served cold.

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