US Lawmaker Seeks Merrill Lynch Bonus Information - Report

Nick Parmee

31 March 2009

A Democratic congressman has asked that the US Treasury and Federal Reserve say what they knew about $3.6 billion in bonuses that Merrill Lynch paid late in December, immediately before its government-facilitated acquisition by Bank of America, according to media reports.

Dennis Kucinich, chairman of an investigative House subcommittee, is reported as telling the Financial Times: “These bonuses are 22 times the size of the AIG bonuses... It’s going to get a lot of attention, and we’re going to make sure of it.”