Grasso (of NYSE- & $160M exit-fame) on Bernie Madoff (of Nasdaq- & $60B fraud-fame)

[Cees Binkhorst]

REPLY TO: D66 at nic.surfnet.nl

Grasso was last year allowed by the court to keep his $160M & luckier than
Madoff (& family) who will not be allowed to keep (part off) the $60B.

Grasso as 30-year veteran of the NYSE has an interesting view on Madoff as
a broker & patron of Nasdaq.

Groet / Cees

http://www.thedailybeast.com/blogs-and-stories/2009-03-31/former-nyse-chairman-grasso-speaks-part-ii

For nearly three decades, former New York Stock Exchange Chairman and CEO
Richard Grasso viewed Bernard Madoff as one of the top competitors of the
NYSE.

Madoff was one of the leaders in promoting computerized trading of stocks,
in lots of 5,000 shares or fewer, outside the trading pits of the New York
Stock Exchange. As an influential promoter of over-the-counter stock
trading and regional brokerages, Madoff was regarded in New York and
Washington as an industry leader.

Grasso had a bird’s eye view of how the former Nasdaq chairman made his
money. He talks with The Daily Beast’s Allan Dodds Frank about Madoff’s
rise and fall, how much he believes the disgraced financier legitimately
earned, and what investors can learn from the case.

“I wouldn’t be surprised if in a 20-year period—call it ’79 to ’99—his
entity made $700 million to $1 billion.”

[restant tekst op url]

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