HANK PAULSON, the outgoing chairman of Goldman Sachs, has been subpoenaed by the former chairman of the New York Stock Exchange in his fight against a regulator’s attempts to recoup some of his $193 million pay package.
Eliot Spitzer, the New York attorney-general, is attempting to take Richard Grasso to court over the controversial pay package awarded to him in 2003. Mr Paulson and dozens of other executives have been subpoenaed in the case. Mr Paulson, who was recently nominated by President Bush to replace John Snow as US Treasury Secretary, was an NYSE director when Mr Grasso received his pay package.
The case is scheduled to begin in October, shortly before Mr Spitzer seeks election as New York governor.