Grubbing for Grubman.

• Author: Peters, Charles
• Position: Tilting at Windmills

Back to Wall Street for a moment. Did you know Jack Grubman is still being paid $200,000 a year by Solomon Smith Barney? What's more, two loans by the firm to Grubman valued at $15 million are being forgiven. Why should Grubman be rewarded? His inflated stock picks cost investors zillions while he was getting rich on investment banking fees from the companies whose stocks he was touting.

So now you're as indignant as I am. So why the payoff? It's to buy Grubman's "cooperation"...