NY judge tells Merrill to turn over bonus details

Hell yeah. It’s sickening that it had to come to this. Merrill Lynch is a company kept alive thanks to the AIG bailout and then the last second acquisition by Bank of America or else they would have nothing. (And hopefully their “nothing” would have been less than the hand full of Lehman people who share millions after bankruptcy.) Someone is going to have to pick up the pace with targeting Merrill and start indicting people but Andrew Cuomo is our best option. Unlike the dithering members of Congress, Cuomo is serious about getting results.

A New York state judge on Wednesday ordered Bank of America Corp. to disclose information about bonuses given to employees at Merrill Lynch & Co. just before the bank bought the brokerage company.

New York Attorney General Andrew Cuomo and Bank of America have been sparring over the release of the information for weeks. Cuomo is investigating whether Bank of America and Merrill failed to provide proper disclosures to shareholders about the bonuses.

New York State Supreme Court Justice Bernard Fried ruled that the compensation figures didn’t constitute a trade secret, as BofA had claimed.

Bank of America and the attorney general’s office did not immediately comment on the ruling.

The judge’s order reverses a temporary order keeping individual bonus information confidential. That order was put into place last month after Merrill’s former CEO John Thain testified about the bonuses.


An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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