ALBANY, N.Y. – New York Attorney General Andrew Cuomo laid out further details Wednesday about $3.6 billion in bonuses Merrill Lynch & Co. executives received, calling the investment bank’s executives irresponsible. The Merrill bonuses were paid in late December, just days before Bank of America Corp. completed its purchase of New York-based Merrill.
Both Merrill and Bank of America could face charges of securities fraud in New York as the attorney general’s office investigation unfolds, according to a person familiar with the investigation who requested anonymity because of the ongoing nature of the matter. The person said Cuomo’s office is attempting to determine if proper disclosures were provided to investors about the timing and size of the bonuses as well as the “deteriorating health of Merrill.”
Other Stories You Might Like
Do Washington Aides Making $158k/yr Deserve Taxpayer Money to Pay Off Their Student Loans? (8)
US Treasury Secretary Unveils NEW $1.5 Trillion Plan (254)
US House Passes Obama’s Stimulus Package (2)
Proposal to Audit The Fed Gains Support in House (1220)
Chrysler to Close 789 Dealerships (2)
John McEnroe – Just Another Victim of the $88 Million Dollar Art Scam (2)
Hyperinflation is Future, Buy Gold & Scotch (3)
Jon Stewart Presents His Version of Bailout Plan (484)
New $400 Million Ponzi Scheme Uncovered (796)
Check Please (641)
most of the serious articles posted deal with absolute nonsense acts done by the most powerful. let the logic prevail!!!!!!!
And today they said they were in need of talent at their company, because they wouldn’t have needed the bailout if they had people who knew what they were doing.
Off with their heads!