In 2003, a man with humble New York beginnings turned Wall Street executive was ousted from his role for making too much money.
This is the story of Richard Grasso 
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In ’03, it’s revealed that Grasso received a pay package worth a staggering $188 million. At the time, the NYSE is still a non-profit organization, causing public outrage. Grasso is forced to step down as CEO after the board asks him to leave in a 13-7 vote.
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Later, NY Attorney General Elliot Spitzer sues to try and recoup the money, beginning a long, public legal battle with Grasso.pic.twitter.com/i9WSTdy6TP
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By the time the lawsuit is over, the NYSE is now a public company, making it harder to argue excessive compensation is under NY State’s purview. Grasso wins the case and is allowed to keep his money.
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AFTERMATH: 1) Grasso is succeeded by John Thain, a former Goldman banker, who begins to prepare the NYSE for future sale. 2) Grasso vows a comeback – “I have the best Rolodex in corporate America”. 3) Elliot Spitzer becomes governor of NY, and Andrew Cuomo succeeds him as AG.
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