When then-New York Attorney General Eliot Spitzer sued me in 2003 over my stewardship as a director of the New York Stock Exchange, the NYSE's legal expenses were more than $100 million, which made it perhaps the priciest litigation in the state's history.

You can have a phenomenal technology with bad people; you're not gonna have much success. You can have mediocre technology with great people; they'll figure out a way to make a buck.

A lawsuit with no legal precedent, seeking no damages, from no jury, in the name of stopping something that isn't happening? Only in New York.