0 votes

Merrill Lynch secretly accelerated bonus payments and gave at least $1 million to each of nearly 700 employees

NEW YORK, Feb 11 (Reuters) - Merrill Lynch secretly accelerated bonus payments and gave at least $1 million to each of nearly 700 employees as the brokerage was amassing billions of dollars of losses, New York Attorney General Andrew Cuomo said in a letter to U.S. Rep. Barney Frank.

Cuomo's letter comes as Frank's House of Representatives Financial Services Committee on Wednesday gets set to grill executives from eight banks that received $125 billion from the U.S. Treasury last fall.

Among the chief executives answering questions on how they spent the taxpayer money will be Ken Lewis of Bank of America Corp (BAC.N), which acquired Merrill Lynch last month.

http://www.reuters.com/article/marketsNews/idUSN113522702009...



Trending on the Web

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.

Send this article to your Congress person

Let's blast them with every ray of light shinning on these greedy people. This is what our Congress continues to support, and would rather we didn't notice articles like this. Let's bombard these "elected" officials with our information, and make them, either wise up, or dread coming into the office and hearing the public's extreme displeasure with them. It's starting to work. Notice how just about every Congress person was blasting away at Bernanke and the Federal Reserve yesterday. Let's turn the heat way up, while they are looking so foolish and irresponsible.

alan laney

fireant's picture

Yes, but make it HARD COPY!

Now is the time to ratchet up the pressure. Upon experiencing a little pressure, they just obfuscate, and kick up some dust. With more pressure, they try to fool us with semantics, then they try more tricks. But when our numbers grow, eventually they will listen.
Email is too easy for them. Phone calls work, but hard copy, especially snail mail works best. They have to DO something with it. We should be filling their offices up with paper. Here is one option to send:
http://www.scribd.com/fireant
Send them Constitutional Violation notices; fill their offices up with them. Lot's of other patriots are doing this, and we need millions of them to fill up their mailbags. This is an effort in support of Ron Paul's Federal Reserve Board Abolition Act. Find your Rep by clicking on "see all folders", print by finding the "ipaper" icon (you do not have to sign in to print).
While you are at it, send Ron Paul one of these:
http://www.scribd.com/doc/9124357/TICKETtxPaul

“It does not require a majority to prevail, but rather an irate, tireless minority keen to set brush fires in people's minds”
-Sam Adams

Undo what Wilson did