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Merrill Lynch Bonuses

$2.4 Billion Settlement Approved

Reuters | Posted 06.05.2013 | Business

* Bank accused of hiding Merrill losses, bonuses * Settlement among largest tied to financial crisis By Bernard Vaughan ...

What Does WikiLeaks have on Bank of America?

Mary Bottari | Posted 05.25.2011 | Business
Mary Bottari

WikiLeaks founder Julian Assange is promising to unleash a cache of secret documents from the hard drive of a U.S. megabank executive. In 2009, he told Computer World that the bank was Bank of America (BofA).

Judge Jed Rakoff Belongs on the Supreme Court

Dan Collins | Posted 05.25.2011 | New York
Dan Collins

This is the right time for a Supreme Court justice whose strong suit is securities law, and whose history shows he's not afraid to put that enormous expertise to use on the side of the people.

Bank of America-SEC Settlement Terms Challenged By Judge For Second Time

nytimes.com | LOUISE STORY | Posted 05.25.2011 | Business

Bank of America says it is opposed to a judge's proposal to appoint an outside compensation consultant as part of a settlement with the Securities and...

Empower Stockholders To Dictate Executive Salaries

Jerry Chautin | Posted 05.25.2011 | Business
Jerry Chautin

Headlines shout about overly generous executive compensation packages. Some say it is disgusting, obnoxious and egregious.

Why It's Wrong When Wrongdoers Are Allowed to Admit No Wrongdoing

Arianna Huffington | Posted 05.25.2011 | Business
Arianna Huffington

When corporate perpetrators don't have to admit they did anything wrong, it's as if the crime never happened. Which, of course, makes it much more likely that it will happen again.

SEC Hits Bank Of America With New Charges Over Merrill Bonuses

AP | LARRY NEUMEISTER | Posted 05.25.2011 | Business

NEW YORK — Federal regulators sued Bank of America Corp. on Tuesday, accusing the company of failing to disclose "staggering financial losses" a...

The Smartest Guy in the Room

Dan Collins | Posted 05.25.2011 | New York
Dan Collins

Shock waves from Judge Jed Rakoff's scathing denunciation of a proposed settlement between the SEC and the Bank of America are still rippling through Wall Street and Washington.

Ken Lewis Bonus: BofA CEO's $53 Million Pension Plan

The Huffington Post | Lila Shapiro | Posted 05.25.2011 | Business

For those of you worried about Ken Lewis' financial well-being since his announcement on Wednesday night that he was stepping down as Bank of America'...

B of A's Ken Lewis: Beware What You Wish For

Jill Schlesinger | Posted 05.25.2011 | Business
Jill Schlesinger

Ken Lewis likes to spring news on the market, which is why his resignation from Bank of America shouldn't have been all that surprising. But it was and here's why.

Passive Bank Directors Pose Systemic Risks

Emma Coleman Jordan | Posted 05.25.2011 | Business
Emma Coleman Jordan

A new report finds that an amazing 92 percent of the directors of TARP recipients who were in place before the financial crisis of 2008 still hold their jobs.

Judge Rakoff Rejects Settlement Over Merrill Bonuses

New York Times | ZACHERY KOUWE | Posted 05.25.2011 | New York

As President Obama traveled to Wall Street on Monday and chided bankers for their recklessness, across town a federal judge issued a far sharper rebuk...

Cuomo vs Bank of America: NY AG Preparing Charges Against Bank

AP | STEPHEN BERNARD | Posted 05.25.2011 | Business

NEW YORK (AP) -- The New York Attorney General's office is preparing charges against several high-ranking Bank of America executives over the bank's a...

Judge Wants SEC To Explain Why It Didn't Investigate BofA In Merrill Deal

AP | Marcy Gordon, AP Business Writer | Posted 05.25.2011 | Business

WASHINGTON (AP) -- A judge on Tuesday ordered federal regulators to explain why they didn't investigate whether executives at Bank of America Corp. mi...

Jed S. Rakoff, The Judge Weighing Merrill Case

New York Times | LOUISE STORY | Posted 05.25.2011 | New York

Jed S. Rakoff, a United States District Court judge in Manhattan, is not one to rubber-stamp administrative decisions. Known as a maverick in legal c...

What's Wrong With Bonuses?

Adam Taylor | Posted 05.25.2011 | Business
Adam Taylor

The bonus arms race began in the 80s, and has shown little sign of abating. In practice this has meant that bonuses have ceased to be performance related at all; instead, just a guaranteed sum.

SEC Should Get Tougher With BofA

Reuters | Rolfe Winkler | Posted 05.25.2011 | Business

In the Bank of America (BAC.N) Merrill Lynch bonus imbroglio, the SEC has proposed a settlement in which, once again, the defendants neither admit nor...

Letting the Banking Rats Out of the Bag

Robert Scheer | Posted 05.25.2011 | Business
Robert Scheer

Why has it been left to one stellar judge to sound the alarm on Bank of America and Merrill Lynch, and why is Congress and the Obama administration looking the other way?

Judge Refuses To Approve Bank of America-SEC Settlement Over Exec Bonuses

Reuters | Posted 05.25.2011 | Business

NEW YORK (Reuters) - A federal judge refused to approve a settlement between a top U.S. regulator and Bank of America Corp (BAC.N) over executive bonu...

BofA Chief Lewis: U.S. Wanted Me To Keep Quiet About Merrill Deal

Reuters | Posted 05.25.2011 | Business

Bank of America Corp Chief Executive Kenneth Lewis testified under oath that U.S. Federal Reserve Chairman Ben Bernanke and then-Treasury Secretary He...

Hank Paulson, The Unnamed "Decider" In The Merrill Lynch Saga

David Fiderer | Posted 05.25.2011 | Business
David Fiderer

Why would Merrill's senior management, with BofA's acknowledgment, base their internal year-end projections on the assumption that securities prices would recover so sharply?

SEC To Review Whether BofA Broke The Law On Merrill Bonuses

Financial Times | Posted 05.25.2011 | Business

The Securities and Exchange Commission is reviewing whether Bank of America broke the law by not telling shareholders about Merrill Lynch's plan to pa...

Merrill Lynch Bonuses 22 Times The Size Of AIG

The Huffington Post | Megan Slack | Posted 05.25.2011 | Politics

Dennis Kucinich sent out a round of letters to top Treasury officials Monday morning, questioning how much they knew about bonuses paid to Merrill Lyn...

Billions In Merrill Lynch Bonuses Would Elude Tax

NY Times | LOUISE STORY | Posted 05.25.2011 | Business

Merrill Lynch's $3.6 billion bonus pool has been among the most controversial payouts on Wall Street. But most of those bonuses, which included some 7...

Merrill Lynch Bonus Info Must Be Released, Judge Says

AP | IEVA M. AUGSTUMS and STEPHEN BERNARD | Posted 05.25.2011 | Business

CHARLOTTE, N.C. — A New York state judge on Wednesday ordered Bank of America Corp. to disclose information about bonuses given to employees at ...