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Report: Bailed-Out Merrill Lynch Accelerated Bonus Payments

HeadlineJan 23, 2009

In bailout news, the Financial Times is reporting the taxpayer-rescued Merrill Lynch accelerated payouts of annual bonuses to a month earlier than normal. The billions of dollars in bonuses were approved just three days after shareholders OKed Merrill Lynch’s merger with Bank of America. Bank of America was given billions in additional bailout money for the takeover. The Merrill Lynch bonuses were paid in late December, a month ahead of the usual payouts in late January or early February.

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