Here in New York, State Attorney General Andrew Cuomo has subpoenaed several top Merrill Lynch executives who were each paid more than $10 million in cash and stock last year. Overall, Merrill Lynch handed out over $3 billion in bonuses just before the company sold to Bank of America in a government-backed deal. The bonuses were handed out despite a $27.6 billion company loss on the year. Cuomo is investigating whether the payments violated securities laws.
Merrill Lynch Execs Subpoenaed in Bonuses Probe
HeadlineMar 05, 2009