There he lead a drastic series of cost-cutting changes at the Exchange which had just awarded CEO Dick Grasso an outrageous compensation package.

FORBES: Are Regulators Warming Back Up To John Thain's CIT Group?

Before his election as governor, Spitzer as attorney general sparred with the New York Stock Exchange, and board member Langone, over the pay package of former Big Board Chairman Dick Grasso.

FORBES: Connect

Dick Grasso, chairman of the New York Stock Exchange, had hoped investors would, in his words, "react very confidently to Mr. Bush's message, " but he has since toned down his expectations.

CNN: Malveaux: Bush focuses on positives