King of the Club
Richard Grasso and the Survival of the New York Stock Exchange
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- نقد و بررسی
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نقد و بررسی
December 15, 2007
CNBC correspondent Gasparino ("Blood on the Street") has written a masterly story of the rise and fall of Richard Grasso, former chair of the New York Stock Exchange (NYSE). It's a rags-to-riches saga that shows Grasso climbing the corporate ladder from impoverished childhood in Queens, NY, to becoming one of the most powerful men in America. The author provides insight into the evolution of the NYSE before, during, and after Grasso's tenure and focuses on the important point that in addition to being a business, the NYSE is also a regulator, an inherent tension producing frequent conflict during Grasso's era. An especially revealing section is the behind-the-scenes look at how the NYSE deftly responded to the tragic events of 9/11, largely owing to his leadership. Overly ambitious and possessed of both a mercurial disposition and an explosive temper, Grasso was also a brilliant tactician who aimed to modernize the institution he governed, though he resisted going as far as embracing electronic trading. Interestingly, his last great battle was over his own executive compensation, ultimately leading to his downfall. Even with these obvious character flaws, there is no denying that Grasso had a substantial impact on the NYSE, and Gasparino captures all detail quite skillfully in his probing, fast-paced, and hugely entertaining book. Highly recommended for larger business collections.Richard Drezen, "Washington Post"/New York City Bureau
Copyright 2007 Library Journal, LLC Used with permission.
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