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.
merrill lynch
B of A Heiress Says Bank Is "Repulsive", Run By "Idiots"
By 2.25.09
Virginia Hammerness, the 75-year-old heiress to A.P. Giannini’s family fortune and a significant stockholder in Bank of America, the bank her grandfather founded in San Francisco in 1904, has harsh words for the people in charge.
Merrill Lynch CEO: "Nothing Happened In The World Or The Economy" That Would Justify Suspending Bonuses
By 2.23.09
You know how Merrill Lynch recently lost $15 billion? Remember how we’re in a unbelievably huge global financial crisis that threatens to unravel the fabric of our economy? John Thain says that’s no reason not to pay billions of dollars in bonuses.
Thain's $35,000 Commode On Legs Actually Chest Of Drawers
By 1.23.09
Regarding the $35,000 “commode on legs” ex-Merrill-Lynch CEO John Thain bought for his office, commenter VikramJaffe informs me that it is not as I theorized, a claw-footed toilet, but rather a chest of drawers on legs introduced by the French in the early 18th century. Too bad no one informed me of the distinction before I took a crap in it.
Bank Of America Fires Former Merrill Lynch CEO
By 1.22.09
It seems that Bank of America didn’t really appreciate that unexpected $15.4 billion dollar 4th quarter loss by Merrill Lynch — because its former CEO, John Thain has been shown the door.
Merrill Lynch CEO Spent $1,220,000 On Office Renovation As Company Prepared To Burn
By 1.22.09
Merrill Lynch CEO John Thain spent over $1.22 million to renovate his office in early 2008, just as his firm was getting ready to slash thousands of jobs, cut back on spending and dump businesses. Here’s this douchebag’s big-ticket tally of personal aggrandizement in the midst of financial crisis:
Bailed Out Bank Executives Got $1.6 Billion
By 12.23.08
A study by the Associated Press says that executives at bailed out banks got $1.6 billion in salaries, bonuses, and other benefits — including cars, personal use of company jets, and country club memberships.
Bank of America To Lay Off Over 30,000
By 12.11.08
Bank of America has announced that it will lay off 30,000-35,000 people as a result of its merger with Merrill Lynch and the economic downturn. [MarketWatch] (Thanks, Dariush!)
What Merrill, Lehman, And AIG Customers Need To Know
By 9.16.08
NYT’s Ron Leiber breaks down what you need to know and do if you are or were a customer of Merrill Lynch, Lehman, or AIG…
Lehman Files For Chapter 11, BoA Buys Merrill Lynch
By 9.15.08
Bankers worked hard over the weekend to prevent the American financial system from imploding.
- Lehman filed for Chapter 11
- Bank of America bought Merrlil Lynch
- A special trading session was opened Sunday from 2-6pm to allow traders to try to unwind their positions
- The Fed is expected to temporarily make it easier for banks to borrow from the government
- European Central Banks stand ready to pump billions into the global market
- Washington Mutual’s new CEO’s disclosure of further writedowns and setting aside of capital calmed investors and stemmed the massive selloff of its stock
Congress To Subprime CEOs: How Come You Got Paid Millions To Wreck The Economy? Hm?
By 3.7.08
Congress got to ask the subprime CEOs what everyone else is thinking: Why did you get millions and millions of dollars to fail so spectacularly?
Rumors: Merrill Lynch CEO Forced To Resign After Disasterous Third Quarter?
By 10.29.07
Rumors are flying that Stanley O’Neal is being forced to step down after a disastrous third quarter— making him the most prominent casualty of the subprime meltdown.
