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February 12, 2009

Merrill Lynch Gave $1M Bonuses To 70 Employees in 2008 Despite $27B Loss
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While the bank executives were testifying on Capitol Hill, New York
Attorney General Andew Cuomo disclosed new details about how Merrill
Lynch paid out over three billion dollars in bonuses last year just
before the company was sold to Bank of America. 700 Merrill Lynch
employees received bonuses of one million dollars or more in 2008 even
though the brokerage firm lost $27 billion. The top four bonus
recipients received a total of $121 million in bonuses.



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