Today’s going to be a doozy… Art Nadel just surrendered to authorities in Tampa, Florida according to CNBC. New York Attorney General Andrew Cuomo has subpoenaed ex-Merrill Lynch CEO John Thain and one of his henchmen regarding the bonus snafu according to Dealbreaker. Kind of like the final scene of The Godfather when the family takes…
John Thain
Pigs at the Trough: Wall Street Takes a Bonus Anyway
In late December, ex-CEO John Thain snuck in $15 billion worth of Merrill Lynch bonus payments to executives and employees a month earlier than usual. He did this while his merger partner to-be Bank of America was in Washington telling officials that a $20 billion rescue package was essential for survival. The fact that anyone…
Hot Links: Ken Lewis Edition
Hot Links for Weekend Reading: The country is made up of two types of people right now, those who care about the Bank of America/ Merrill Lynch saga and those who truly don’t mind being robbed and pillaged in broad daylight. When the news came out that Merrill Lynch CEO John Thain requested a $10…
