TPM:
The judge who will decide whether information about those Merrill Lynch bonuses should be made public has said he'll make a decision within the week, Bloomberg reports.
New York Attorney General Andrew Cuomo is investigating the bonus awards, which reportedly total $3-4 billion. Bank of America, which now owns Merrill Lynch, has refused to disclose to Cuomo which Merrill employees received the awards, and how much each got.
But we particularly liked this argument from B of A's lawyer, Evan Davis, made to Judge Bernard Fried:
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.
3 comments:
Forget it, they owe us-we don't owe them. They lost their right to privacy when they begged for money and then blew it on bonuses-or was it hush money?
I have the anwer to this problem. Just give back the taxpayers money and B of A can do what ever they want too. If they chose to borrow the money they have to obey the rules applied.
Jackie has the right idea.
No banker receiving bailout money deserves a bonus. Not all banks invested in CDSs, CDOs, hedge funds, derivatives, Ponzi schemes, etc. . . . Any banker investing in that crap deserves no bonus and should have to pay a stupidity tax.
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