The 700 Millionaire Club: Thanks to US Government's Bailout Package

What do you think of this?

For nearly 700 lucky Merrill Lynch employees, 2008 was a million-dollar year, even though the brokerage firm lost $27 billion. On a day the chief executives of eight large banks were questioned about their industry’s excesses on Capitol Hill, Andrew M. Cuomo, the attorney general of New York State, raised hackles by disclosing how Merrill Lynch distributed its $3.6 billion 2008 bonus pool. - source

 

Recession or not, corrupt always find ways to increase their wealth.....leaving needey in lurch

 

Just thought I'd add a link to a letter from A Cuomo, the AG for New York state.

http://www.oag.state.ny.us/media_center/2009/feb/merrill letter.pdf

It is a strong indictment of Thain et al. It seems that he overstepped the line and will get caught and dealt with.

On my site, see sig below, I have a series (four) of posts regarding the crisis. One of my suggestion is a confiscation of assets from those responsible for the mess we are in.

 

government confiscation of the mortgage notes? nationalization then?

 

so far we dont' even know if there was truly any foul play:

this makes sense. You are talking about executive managers who handle hundreds of millionaire clients, perhaps billionaire. You must keep it in perspective.

If I handle $1,000,000,000 in accounts, and grow them by 12% this year, that's $120million in profits. A $1 million bonus would be less than 1% of what I earned for my company and customers.