Merrill bonuses made 696 millionaires: probe

Merrill bonuses made 696 millionaires: probe

rawstory.com

Merrill Lynch quietly paid out at least one million dollars bonus each to about 700 top executive even when the investment house was bleeding with losses last year, a probe has revealed.

They were part of 3.6 billion dollars in the firm's bonus payments in December before the announcement of its fourth quarterly losses and takeover by Bank of America, the investigation by the New York state Attorney General's office showed.

"696 individuals received bonuses of one million dollars or more," New York Attorney General Andrew Cuomo said of the Merrill scandal in a letter to a lawmaker heading the House of Representatives financial services committee.

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Here we go again....

As if these guys didn't see the end of good times coming.

The arrogance of the "top executives" appalls me to no end.

With their bank bleeding monies, they still get huge bonuses.

Does anyone here think that they are going to have to give the $$$ back to the government??

I would seriously doubt it.

rawstory.com
(visit the link for the full news article)

I made a search before I posted this and it came up empty.

That being said another member has a much better post on this.

Please go to this link...www.abovetopsecret.com...

To the mods...please remove this entire post.

[edit on 12-2-2009 by wolf241e]