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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: mishedlo who wrote (93177)	1/22/2009 9:28:47 PM
From: SouthFloridaGuy	13 Recommendations Read Replies (2) of 116555

MISH, you need to do an expose on the fraud that is being perpetuated by the Investment Banks. They have literally been spending TARP money on bonuses as evidenced by the Merrill/BOA deal. Mid-level Bankers on the Street still made over $600,000 THIS YEAR, despite the fact that the companies are going out of business... God Bless Andrew Cuomo from stopping John Screw You Thain from getting paid out. This is a fraud of the N'th degree. They are using hedge fund regulation as a red-herring. The people who need to be regulated are the BANKS first and foremost. I don't even think the auto executives have as much hubris as these assholes. This is criminal...totally criminal. You know as much as anybody else, hedge funds, managed accounts, whatever, you eat what you kill.... New York Attorney General Cuomo Said to Probe Merrill Bonuses Email \| Print \| A A A By John Pickering Jan. 22 (Bloomberg) -- New York Attorney General Andrew Cuomo is investigating bonuses Merrill Lynch & Co. paid to its executives just before the sale to Bank of America Corp., a person familiar with the probe said. There have been reports of what appear to be large, secret, last-minute bonuses, the person said. Bank of America’s purchase of Merrill closed at the end of 2008. Merrill normally paid bonuses in January or February. Last Updated: January 22, 2009 15:35 EST

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