Thursday, March 5, 2009

Today's Fly Or Die Commerce Report: Merrill Lynch's Top Executives Subpoenaed

The Wall Street Journal is reporting that New York's Attorney General, Andrew Cuomo, has subpoenaed Merrill Lynch's top executives.

Mr. Cuomo is investigating whether bonuses the executives received violated securities laws.

Before Merrill Lynch became Bank of America, its executives were paid billions of dollars in bonuses despite posting a fourth quarter loss of over $15 billion.

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