Well, it looks like the whole Merrill Lynch bonus scandal may have a Scooby Doo ending — with a judge unmasking the executives by the end of next week.
“What I am going to try to do is get a decision written in the next week or less,” the judge said as the hearing ended.
Bank of America is arguing that by revealing the compensation numbers they are divulging a corporate secret — and by betraying their employee’s privacy scary foreign banks will be able to swoop in and steal all their “top talent.”
New York Attorney General Andrew Cuomo thinks that’s a load of crap.
“Imagine, tomorrow in the Daily News, 200 names and their compensation,” [a lawyer for Bank of America] said. “Americans care about their privacy. That matters to us because if we don’t try to protect it and succeed in protecting it, we’ll lose them to foreign banks.”
So, does that mean the foreign taxpayers will have to pay their bonuses then, or how will that work?
Merrill Bonus Recipients May Be Named Within a Week (Update2) [Bloomberg]