NY's Cuomo to charge B. of A. over Merrill: AP

[ASusilovic]

New York Attorney General Andrew Cuomo is preparing charges against "several high-ranking" Bank of America Corp executives over Merrill Lynch bonuses, The Associated Press reported Monday, citing an unidentified source close to the investigation. Earlier in the day, a federal district judge rejected a $33 million settlement between the bank and the Securities and Exchange Commission over the executive bonuses. The $33 million settlement concerned allegations that Bank of America did not inform shareholders of an agreement to pay Merrill Lynch executives billions of dollars in bonuses before the bank acquired the troubled investment firm.

http://www.marketwatch.com/story/nys-cuomo-to-charge-b-of-a-over-merrill-ap-2009-09-14

 

[nazzdack]

Quote from ASusilovic:
New York Attorney General Andrew Cuomo.....

Wow. A politician in New York state attempting to litigate against Wall Street. :eek:

 

[Giucco]

This is what you gotta do if you want to get into higher office - governorship, etc.

 

[Ivanovich]

Quote from Giucco:

This is what you gotta do if you want to get into higher office - governorship, etc.

...where you can be bought out at a higher price.