Sure, that sounds fair. What failing company that needed to be bought out or fail shouldn't reward people so handsomely? Now that the GOP is trashing the stimulus plan after having trashed the economy, there will no doubt be plenty of Americans rolling in such rich rewards. Good work, when you can get it.
For nearly 700 lucky Merrill Lynch employees, 2008 was a million-dollar year, even though the brokerage firm lost $27 billion.This is why we need to start asking Wall Street for bonus money already paid out. If they can't act responsibly, someone needs to do it.
On a day the chief executives of eight large banks were questioned about their industry’s excesses on Capitol Hill, Andrew M. Cuomo, the attorney general of New York State, raised hackles by disclosing how Merrill Lynch distributed its 2008 bonus pool. The payments, made just before Merrill Lynch was sold to Bank of America in December, have already stirred anger for being paid earlier than usual. And Mr. Cuomo made it clear that the bulk of the bonuses were paid to a small portion of Merrill Lynch’s 39,000 employees.
“Merrill chose to make millionaires out of a select group of 700 employees,” Mr. Cuomo wrote in the letter, which was sent to the House Financial Services Committee on Tuesday night.
