Meanwhile, a New York judge has ordered the disclosure of employee bonuses paid out at Merrill Lynch just before Bank of America bought out the firm in a government-backed deal. The ruling came in New York Attorney General Andrew Cuomo’s attempt to subpoena several top Merrill Lynch executives who were each paid more than $10 million in cash and stock. Overall, Merrill Lynch handed out over $3 billion in bonuses just before the Bank of America deal. For its part, Bank of America has received $45 billion in government aid.
Judge Orders Disclosure of Merrill Lynch Bonuses
HeadlineMar 19, 2009