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Uproar Erupts over NYSE Head Grasso's Pay Package

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Uproar Erupts over NYSE Head Grasso's Pay Package

Uproar Erupts over NYSE Head Grasso's Pay Package

Uproar Erupts over NYSE Head Grasso's Pay Package

  • Download
  • <iframe src="https://www.npr.org/player/embed/1428331/1428332" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">

NPR's Melissa Block talks with NPR's Jim Zarroli about the controversy surrounding New York Stock Exchange Chairman Richard Grasso and his $140 million compensation package. Some members of the Exchange's Board of Directors have said they didn't know Grasso was being paid so much — but others have defended the package. Critics say Grasso's pay is enormous even by Wall Street standards and are raising questions about the independence of the board's compensation committee.