Shadows From The Past At NYSE

Donna Carlisle — Tue, 06 Nov 2007 11:00:00 -0500

Wouldn't you hate it if things said behind closed doors were suddenly made public?

Former New York Stock Exchange chairman Dick Grasso might be sweating a little. A new book discussing Grasso's time on the NYSE reveals that he was questioned about having an extramarital affair and fathering a child with his supposed mistress.

In 2004, then-State Attorney General Eliot Spitzer filed a suit against Grasso seeking to reclaim over half of the money he made during his eight years as chairman. Mr. Grasso was paid around $190 million dollars, which Spitzer contends is a violation of state laws governing not-for-profit organizations.

Most of the testimony was released to the public already, but this particular interview was kept under wraps until now. Grasso was interrogated about a woman named Karen Ross, a childhood friend of his.

The personal nature of the questions stemmed from emails that Spitzer seemed to think were indicative of an affair. Whether the alleged affair is current or past wasn't specified. Apparently, Grasso paid part of Ms. Ross's daughter's college tuition, and Spitzer asked him point blank if the child were related to him in some way. The only way she could be is if he had fathered her.

Grasso never lost his cool, but his attorney fired back that the subject matter being discussed wasn't related at all to the case and it was private information. The question was asked again and Grasso simply replied, "No."

Admittedly, this doesn't make Grasso look nearly as bad as the Attorney General's office, but still — if I were Mrs. Grasso, I might be checking out his emails just in case.

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Shadows From The Past At NYSE