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Thain Tells All On Merrill Lynch Bonuses

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John Thain, former CEO of Merrill Lynch, finally revealed the names of the executives who received multi-million dollar bonuses on the eve of his failing firm's merger with Bank of America, ABC News has learned. Thain was ordered to reappear before New Attorney General Andrew Cuomo Tuesday after initially refusing to divulge the details of the firm's controversial 11th hour bonuses from a $3.6 billion pool.

Thain, in his first deposition on February 19th, had initially refused to answer questions regarding the bonuses, according to a partial transcript of that session. On Monday, he was ordered to reappear after the Attorney General's office sought and received a court order compelling him to answer the questions.

Read the whole story at ABC News

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