AccessMyLibrary provides FREE access to millions of articles from top publications available through your library.
Create a link to this page
Copy and paste this link tag into your Web page or blog:
Section: General News - Prosecutors in New York want to talk to a former chief executive about why his investment firm rushed to pay out billions of dollars in bonuses.
New York state attorney general Andrew Cuomo calls the bonuses "troubling," and says he has issued a subpoena (a court order compelling testimony) to former Merrill Lynch executive John Thain.
Merrill Lynch paid the bonuses just days before it was taken over by Bank of America, and before announcing that it lost more than $15 billion over the last three months of 2008.
Bank of America says the fourth quarter loss forced it to ask the government for an extra $20 billion in bailout …