NY AG: Before Losing $15 Billion, Merrill Lynch Quietly Made 696 Employees Millionaires

NY AG: Before Losing $15 Billion, Merrill Lynch Quietly Made 696 Employees Millionaires

New York Attorney General Andrew Cuomo wrote a letter yesterday to Rep. Barney Frank (D-Mass.), head of the House Financial Services Committee, (which is currently holding hearings Washington on how banks are spending bailout funds.) In the letter, Cuomo expresses concern that Merrill Lynch moved up their bonus schedule so that they could make sure that taxpayers would get the bill.