Grasso to pay back tens of millions

The verdict couldn't have been worse for Dick Grasso. In acts termed "shocking" by the judge, the former chief of the Big Board effectively stymied the board's abilities to monitor his pay and benefits. This is according to a 72-page decision rendered by Justice Charles Ramos of the New York State Supreme Court. The ruling does not require the payback of the $140 million in disputed pat. But it bolsters the efforts of Eliot Spitzer, in the on-going legal battle. Spitzer promptly issued a notice that Grasso must now surrender $80 million. The ruling is a blow to Grasso's contention that the board of the NYSE knew all along what kind of money he was being paid. So score a win for Spitzer, though the final word has yet to be written.

For more on this:
- Here's an AP article