Thursday, January 22, 2009
CBS News,
CBS News,
Former Merrill CEO Out At Bank America
John Thain, Merrill Lynch CEO, allegedly rushed out billions in bonuses as company pleaded for a federal bailout.
Bonuses totalling $3 billion to $4 billion were paid to execeutives in December just before Bank of America's acquisition of Merrill became final on Jan. 1, 2009. while Bank of America was privately telling the government that Merrill was losing so much money that the buy out might fall through unless it could get more federal TARP money.
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Posted by Editor on 01/22/09 at 07:45 AM •
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