SACKING MR. GRASSO.(MAIN)(Editorial)

Two thoughts, above all, on Richard Grasso and his personal stock market crash. Self control, and hypocrisy.

The control part should be obvious enough. A $139.5 million deferred compensation package, on top of $59.3 million in actual compensation over the past three years? Another $48 million that he decided not to accept, after the revelation that he had it coming made him a bigger target than ever?

It's foolish to argue, as the editorial page of The Wall Street Journal does, that Mr. Grasso's great, indeed only, misdeed was taking what the New York Stock Exchange agreed to pay him. Mr. Grasso took all that money, all right, and at the expense of his …