bloomberg.com - 1/30/2009
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Jan. 30 (Bloomberg) -- Andrew Cuomo , New York’s attorney general, may demand the return of $4 billion in bonuses paid by Merrill Lynch & Co. just before it was acquired by Bank of America Corp. , a person familiar with the matter said. Cuomo also wants to know what Bank of America Chief ...
Merrill Reportedly Paid Bonuses Early as Merger Closed
dealbook.blogs.nytimes.com 1/22/2009 — The controversy over Bank of America 's acquisition of Merrill Lynch appeared to grow on Thursday with a report in the Financial Times that Merrill paid out billions of dollars in bonuses to its employees three days before the sale went through -- and ...
Enjoy Bonuses While They Last —
Trader Daily Combined Feed
The Wall Street bonus, considered a sacred ritual, may become the industry’s biggest casualty as governments worldwide bail out financial institutions.
UBS AG was told to reduce bonuses after the Swiss government gave the country’s biggest bank a $59.2 billion lifeline. Bank of America Corp. ...
Cuomo May Seek Return of Early Merrill Bonuses, Report Says —
DealBook
New York Attorney General Andrew M. Cuomo may demand the return of $4 billion in bonuses paid by Merrill Lynch just before it was acquired by Bank of America, Bloomberg News reported, citing a person familiar with the matter.
Mr. Cuomo also wants to know what Bank of America Chief Executive ...
Obama to Take Bonus Message Directly to the Street —
DealBook
President Obama branded Wall Street bankers "shameful" on Thursday for giving themselves nearly $20 billion in bonuses as the economy was deteriorating and the government was spending billions to bail out some of the nation's most prominent financial institutions.
"There will be time for them to ...
Few Ways to Recover Bonuses to Bankers —
DealBook
"Shameful." "Outrageous." "The height of irresponsibility."
President Obama had some harsh words on Thursday for bankers who paid themselves billions of dollars in bonuses despite the sweeping government rescue of the nation's financial industry. Senator Christopher J. Dodd of Connecticut said ...
Cuomo eyes return of Merrill bonuses —
FT Alphaville
New York Attorney General Andrew Cuomo may demand the return of $4bn in bonuses paid by Merrill Lynch just before it was acquired by Bank of America, reports Bloomberg. Cuomo is also trying to determine what BofA chief executive Ken Lewis knew about the accelerated bonuses and about Merrill’s ...
Bank of America Bonuses Deferred —
Trader Daily Combined Feed
Andrew Cuomo, New York attorney-general, is investigating Merrill’s decision to accelerate the payment of nearly $4bn in bonuses – mostly in cash – to its employees, just days before the closing of its sale to BofA on January 1.
With that probe under way, BofA was expected to tell staff at ...
BofA Bonuses May Draw More Heat —
DealBook
Bank of America's bonus saga continues.
The bank is planning to hold paying bonuses to some of its investment banking staff, a move that may cause further tensions between BofA staff and their counterparts at Merrill Lynch, The Financial Times reported.
Meanwhile, Andrew Cuomo, New York's ...
What Red Ink? Wall Street Paid Hefty Bonuses —
DealBook
By almost any measure, 2008 was a complete disaster for Wall Street — except, that is, when the bonuses arrived.
Despite crippling losses, multibillion-dollar bailouts and the passing of some of the most prominent names in the business, employees at financial companies in New York, the ...
Is John Thain being made the fall guy? —
BloggingStocks
Well that didn't take long: Former Merrill Lynch CEO John Thain has received a subpoena from New York Attorney General Andrew Cuomo. The subpoena is part of an investigation into the billions of dollars in bonuses that Merrill paid last year just before it was taken over by Bank of America ...
The Merrill bonuses —
Conglomerate
NY Attorney General Andrew Cuomo has subpoenaed ex-Merrill chief John Thain and Bank of America CAO J Steele Alphin over the bonuses Merrill paid late last December. Cuomo stated : "The fact that Merrill Lynch appears to have moved up the timetable to pay bonuses before its merger with Bank of ...
Is John Thain being made the fall guy? —
BloggingStocks
Well that didn't take long: Former Merrill Lynch CEO John Thain has received a subpoena from New York Attorney General Andrew Cuomo. The subpoena is part of an investigation into the billions of dollars in bonuses that Merrill paid last year just before it was taken over by Bank of America ...
Thain Subpoenaed —
Trader Daily Combined Feed
John Thain was issued a subpoena on Tuesday to testify about Merrill Lynch’s decision to accelerate the payment of nearly $4bn in employee bonuses last month – just days before the closing of its sale to Bank of America.
Merrill paid the bonuses even as its fourth-quarter losses were ...
Thain called to testify on Merrill bonuses —
FT Alphaville
John Thain was issued a subpoena on Tuesday to testify about Merrill Lynch’s decision to accelerate the payment of nearly $4bn in employee bonuses last month – just days before the closing of its sale to Bank of America. Merrill paid the bonuses even as its Q4 losses were mounting to $15bn and ...
Cuomo Subpoenas Thain Over Merrill Bonuses —
DealBook
Andrew Cuomo, New York's attorney general, said Tuesday that he has subpoenaed John A. Thain, the former Merrill Lynch chief executive, over bonuses paid out by the firm just before it was taken over by Bank of America.
Mr. Cuomo also said that he has subpoenaed Bank of America's chief ...
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