Those $3.6 billion in Merrill Lynch bonuses that were paid out early seem to have disappeared from the front page thanks to the likes of AIG and the auto bailout. But Dennis Kucinich, chairman of a subcommittee of the House of Representatives' Oversight and Government Reform Committee, is all over it now:
Dennis Kucinich, chairman of an investigative House subcommittee,
said the Merrill pay-outs were a bigger scandal than the $165m AIG
bonuses , which triggered an explosion of anger when they came to light
this month.
“These bonuses are 22 times the size of the AIG
bonuses … It’s going to get a lot of attention, and we’re going to
make sure of it,” Mr Kucinich told the Financial Times on Monday….
“My subcommittee is going to go very deep into this to determine why
ordinary Bank of America shareholders didn’t know details of the bonus
plan when they voted on a merger, and who knew about this at the
government,” Mr Kucinich said.
“Did they know about it? If not, why not? And if they did, why wasn’t it disclosed?”
Merrill’s $3.6bn bonuses under fire – Financial Times
Tags: Bank of America, Ben Bernanke, Bonuses, Compensation, Fed, Henry Paulson, John Thain, Ken Lewis, Merrill Lynch, Politics
