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Reply #19: BofA played role in $4 bln Merrill bonuses - FT [View All]

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ozymandius Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-26-09 06:24 AM
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19. BofA played role in $4 bln Merrill bonuses - FT
PHILADELPHIA, Jan 25 (Reuters) - Bank of America (BAC.N: Quote, Profile, Research) played a role in Merrill Lynch's controversial decision to pay $4 billion in bonuses in December, the Financial Times reported on Sunday.

Bank of America had said the payment of $4 billion in compensation in a fourth quarter in which Merrill suffered $15 billion in losses was sanctioned by John Thain, Merrill's chief executive.

http://uk.reuters.com/article/marketsNewsUS/idUKN2535538120090126
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