Merrill Lynch’s Bonus Fiasco
February 11, 2009 by Robb Willis
Cuomo also detailed how the bonus pool was spread among staff.
He said that while the bonus pool encompassed 39,000 employees, the lion’s share went to a relatively small number of executives. “Merrill chose to make millionaires out of a select group of 700 employees,” Cuomo said.
Cuomo’s office determined that $121 million was doled out to the biggest four bonus recipients, who were not identified by the attorney general.
The next four biggest beneficiaries split a total $62 million in bonuses, while another six divvied up $66 million.
As to the size of individual bonuses, Cuomo said 14 staffers got bonuses of $10 million or more and 20 received bonuses of at least $8 million, while a group of about 200 got $3 million or more.
Good luck getting that second bank bailout through!
http://www.marketwatch.com/news/story/story.aspx?guid={EE91F361-96FD-4CF8-B204-8090EBD755C2}&siteid=rss
Sphere: Related ContentRelated posts:
- The bonuses…its all about the damn bonuses? I am really tired of this subject. AIG was not...
- Matt Taibbi-I love you dude!! Matt’s latest piece is a wonderful bitchslap of the AIG...
- Geithner wants super powers… Not like Superman of course, more like Bush43. Oh, and...
- Rightwing nutters are on the attack. From ThinkProgress, The Progress Report: ‘WISE LATINA WOMAN’: “[L]ess than...
- They are marginalized, therefore they are bitter. Reading MSNBC’s First Read this morning, I was struck right...
Comments
Feel free to leave a comment...
and oh, if you want a pic to show with your comment, go get a gravatar!