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Bank of America faces bonus trial

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malaise Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 05:22 AM
Original message
Bank of America faces bonus trial
http://news.bbc.co.uk/2/hi/business/8268160.stm
<snip>
The US regulator has confirmed it will sue Bank of America over charges that it misled investors about bonuses when it acquired Merrill Lynch.

Bank of America saved Merrill from collapse at the height of the financial crisis, after saying no bonuses would be paid without shareholder approval.

But up to $5.8bn (3.4bn) in bonuses were later authorised.
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These people are criminals!!
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FBaggins Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 05:55 AM
Response to Original message
1. A bonus trial?
You mean it was buy one get one free week on trials and I missed it? :)
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Rosa Luxemburg Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-22-09 06:06 AM
Response to Original message
2. Bonuses should be banned if they are over $500
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