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Bader Letter to the Editor in the Wall Street Journal
August 24, 2004
Darren Dopp claims that his boss, New York Attorney General Eliot Spitzer, was right to sue Dick Grasso for collecting $190 million in pay during his years as chairman of the New York Stock Exchange. Mr. Dopp thinks that amount is just too big to be "reasonable." (Letter, Aug. 19). Mr. Spitzer's office sang a different tune when trial lawyers demanded an eye-popping $625 million for bringing New York's copycat lawsuit against the tobacco companies, after tobacco firms capitulated in other states. Mr. Dopp says Mr. Spitzer was "obligated to investigate" Mr. Grasso because the Stock Exchange's management asked him to do so. But when New York judge Charles Ramos asked Mr. Spitzer to investigate the lawyers' massive award, he not only rejected the judge's plea—he supported the demands of the lawyers!