Former New York Stock Exchange Chairman Dick Grasso reportedly may run for mayor of New York City.
Grasso, well respected by the Wall Street community, hasn't officially thrown his hat into the ring, but has come close.
"Ray Kelly should be our next mayor. But if Kelly doesn’t take the shot, then I’m thinking seriously of running," Grasso says, referring to New York City Police Commissioner Ray Kelly.
(Associated Press photo)
Grasso was quoted about a possible mayoral bid by New York Post gossip columnist Cindy Adams.
Adams suggests that Grasso will have a Bloomberg-style bank account to mount any campaign.
She writes: “Grasso’s buddies include Ken Langone, who supported him in his lawsuit, and Hank Greenberg, who built AIG. All play in the same sandbox. Megarich. Money no problem.”
Grasso is also making headlines speaking out against Wall Street regulations.
Take Regulation NMS, a set of Securities and Exchange Commission rules that focus on fair price execution and arguably bring in more trading venues.
Grasso says such regulations fragments the market.
"Reg NMS needs to be revisited," Grasso says, The Wall Street Journal reports.
"I’m not a believer in fragmented markets," Grasso says, adding that a consolidated number of trading venues ultimately benefits the smaller investor.
© 2014 Moneynews. All rights reserved.