Merrill Lynch Gave $1M Bonuses To 70 Employees in 2008 Despite $27B Loss

VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)

While the bank executives were testifying on Capitol Hill, New York Attorney General Andew Cuomo disclosed new details about how Merrill Lynch paid out over three billion dollars in bonuses last year just before the company was sold to Bank of America. 700 Merrill Lynch employees received bonuses of one million dollars or more in 2008 even though the brokerage firm lost $27 billion. The top four bonus recipients received a total of $121 million in bonuses.

VN:F [1.9.22_1171]
Rating: 0.0/10 (0 votes cast)

About CD