NY AG Cuomo Said Merrill "Secretly and Prematurely" Awarded $3.5B In Bonuses Before Merger
More News related to BAC
- Option volume leaders today according to Track Data are: C EBAY AAPL BAC.
- BofA's Ken Lewis Sees Crisis 'Abating', But Says Banking Has 'Some Way to Go' to Recover
- Copano Energy to Present at the Bank of America/Merrill Lynch 2009 Energy Conference
- Bank of America Extends Nearly $184 Billion in Credit in Third Quarter
- Carriage Services Amends and Extends Credit Facility
More News related to C
- Option volume leaders today according to Track Data are: C EBAY AAPL BAC.
- Citigroup Vice Chairman Ned Kelly to Present at the Bank of America Merrill Lynch 2009 Banking and Financial Services Conference
- A.M. Best Places Ratings of Primerica Life Insurance Company and Its Subsidiaries Under Review with Negative Implications
- Citi Releases Preliminary Results of Quarterly Foreclosure Prevention Activities in Missouri
- Rebound Continues in Third Quarter for Plans in U.S. Master Trust Universe, According to BNY Mellon Asset Servicing
More News related to GS
- FTI Consulting, Inc. Enters Into $250 Million Accelerated Stock Buyback Agreement With Goldman, Sachs & Co.
- CVR Energy Announces Secondary Public Offering of 7,376,264 Shares of Common Stock
- Goldman Sachs to Present at the Bank of America - Merrill Lynch 2009 Banking & Financial Services Conference
- Dollar Thrifty Automotive Group Completes Public Offering of Common Stock
- CVR Energy Reports Third Quarter Results
More News related to Insiders' Blog
- Canaccord Adams Downgrades Golden Star Resources Ltd. (GSS) to Hold
- Barrington Downgrades Perceptron (PRCP) Following Q1 Miss
- DA Davidson Issues Mid-Day Downgrade on FEI Company (FEIC)
- D.A. Davidson Downgrades Sterling Construction (STRL) to Neutral
- BMO Capital Downgrades MF Global (MF) to Market Perform
New York Attorney General Andrew Cuomo said Merrill Lynch (NYSE: MER) paid out $121 million in bonuses for the top four recipients before being acquired by Bank of America (NYSE: BAC).
Cuomo said Merrill "secretly and prematurely" awarded $3.5 billion in bonuses with Bank of America's "apparent complicity."
The comments were disclosed in a letter to Barney Frank, the Chairman of the House Financial Services Committee.
Wall Street executives will be testifying before the House Financial Services Committee today. Those testifying include J.P. Morgan's (NYSE: JPM) Jamie Dimon, Bank of America's (NYSE: BAC) Ken Lewis, Citigroup's (NYSE: C) Vikram Pandit, Morgan Stanley's (NYSE: MS) John Mack and Goldman Sachs' (NYSE: GS) Lloyd Blankfein.
Related Categories
Insiders' BlogTrader Talk
Stocks Mentioned
+0.29
-0.29Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
