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Bank Of America CEO To Be Grilled Over Bonuses: Who Approved $3.6 Billion Payout?


Business  (tags: Bank Of America, Bank Of America Bonus, BofA Bonuses, Economy, Financial Crisis, Ken Lewis, John Thain, Merrill Lynch, American taxpayers, Business News )

Blue
- 2034 days ago - huffingtonpost.com
Lewis is set to be confronted by the lawyers for New York Attorney General Anthony Cuomo this afternoon over his statements that he had "no authority" over $3.6 billion in bonuses paid to Merrill Lynch executives last December. Lewis and Thain DEAL!!!!



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Comments

Blue Bunting (855)
Thursday February 26, 2009, 7:46 pm
Plea$ DO NOT TELL ME that John Thain and Ken Lewi$ didn't agree to the term$ of the bonu$e$ ... and now the BofA employees in the merger with Merill Lynch are casting sidewise glances at the Merrill Lynch employees who got the bonuses the BofA employees didn't get ...

two rich men ... deciding the fates of middle class Americans ... most didn't win ... but the 2 "eliti$t$" walked away with billion$

why are these men not in jail?
 

Roseann D. (178)
Thursday February 26, 2009, 7:53 pm
Don't ask for any more until you get this back. Stupid corrupt jerks.
 

Samantha R. (16)
Thursday February 26, 2009, 9:44 pm
and they rode in their nice little corporate jet to get to the meeting! they should all be jailed for theft !
 

Christy V. (36)
Friday February 27, 2009, 12:52 pm
The easiest out would have been to say it was given to satisfy contractual obligations. Any other "excuse" is just that.
 

Blue Bunting (855)
Friday February 27, 2009, 2:16 pm
Bonuses are usually given mid January; Merrill employees got bonuses in December ... Bank of America employees got zilch.
 

Blue Bunting (855)
Friday February 27, 2009, 9:23 pm
Michael Kinsley, in between praising Obama and laughing at Jindal, recalls a little history: "Wilson's book illustrates that some things never change. He attends the
testimony of the president of National City Bank (yup, now Citicorp),
one 'Sunshine Charley' Mitchell, who 'sold [Americans] the stock of
motor-car companies that were presently to dissolve into water; . . .
he sold them the stock of his own bank, which dropped . . . from $572
to $220, and which was recently worth $20.' This sort of experience led
to the 1933 Glass-Steagall Act, forbidding banks to sell stocks, that
was repealed in 1999."
 

Ralph F. (64)
Friday February 27, 2009, 9:35 pm
I've always had a special feeling for B of A (nausea) ever since they began penalizing me for not having a lot of money. As a self-supporting university student living 3,000 miles away from home in California, circa 1980, the bank began charging me monthly fees for paperwork because I only had a few hundred dollars worth of savings in my account. It was just one of the first signs of the Reagan-Thatcher-inspired Corporate control of everything under the guise of "deregulation." Even as a wet-behind-the-ears youngster I thought the concept was insane. Well, lo and behold, 28 years later, the system seems to be collapsing. How much sleep do you think I'm losing now over Bank of America's problems?
 

Blue Bunting (855)
Friday February 27, 2009, 10:37 pm
Northern Trust To Pay Back $1.6B In Bailout Funds... Company Slammed By
Lawmakers Last Week For Sponsoring Lavish Events, Golf Tournament
 

Blue Bunting (855)
Saturday February 28, 2009, 12:56 am
BofA CEO Flies In Private Jet, Refuses To Answer Questions On $3.6 Billion Bonuses
 

Past Member (0)
Sunday March 1, 2009, 1:58 am
THOSE THAT DO BIG CRIMES SHOULD DO BIG TIME
Other than that what more can be said?
President Obama we need more cops on the beat, Increase the size of the Justice Department five fold----get all this fact finding in the hands of prosecutors. Time to bring an end to this insanity.
 

Pamylle G. (462)
Sunday March 1, 2009, 4:22 am
Grill, baby, grill !
 

US Veteran (95)
Sunday March 1, 2009, 6:13 am
Hang these Criminals, or wait...., give them a fair trial first, and then Hang these Criminals.
Peace.
 
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