Laughing in the face of billions of dollars of losses, Merrill Lynch awarded their executives with hefty bonuses. New York's Attorney General says that the financial company did this by secretly moving up the date that they usually award their bonuses.Merrill Lynch & Co. reportedly dispersed $3.6 billion in bonuses to approximately 39,000 employees. Documents site the bonus breakdown as follows: The top 4 bonus recipients received a combined $121 million; The next 4 bonus recipients received a combined $62 million; and, 696 individual employees received bonuses of $1 million or more.
If money is going to be distributed like this by a company that is grossly in the red, and allegedly laying off employees by the thousands; what good is a stimulus plan?
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