Merrill Lynch's decision to secretly and prematurely award approximately $3.6 billion in bonuses, and Bank of America's apparent complicity in it, raise serious and disturbing questions.
In the letter there are details regarding the breakdown of that $3.6 billion, which I've attempted to breakout further (there is some rounding and assumptions involved, but in general it is what it is).
Total Breakdown
Average by Tier (not sure how clear this is... I couldn't think of a better way to show it)
Source: NY State
Where were the boards of directors??? Can they really go to sleep at night and think that they have adequately served their stockholders? Do they have an criminal liability?
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