Merrill Lynch’s involvement in the nation’s sub-prime mortgage crisis was almost certain to lead to its implosion. Merrill Lynch will give some of their top dogs rewards for their duplicity in doing a job well done in the sub-prime lending meltdown and in being acquired by Bank of America.
This Machiavellian, “take no quarter’ take over will be affecting no less then 10,000 families out of work with the holidays fast approaching.
John Thain the CEO/Director/Chairman of the Board of Merrill Lynch for the last year made $17,307,610. Thain and his cronies, Greg Fleming had compensation of $27,362,652 and Bob McCann had compensation of $5,035,594. The combined compensation for just these three men per year was $49,705,856 . They are all going over to Bank of America to reward them for a job well done.
Meanwhile, the Labor Department reported last week that unemployment benefits rose to a seasonally adjusted 478,000. Jobless claims above 400,000 are considered a recession. Add another 10,000 jobs from Merrill Lynch to that list.
0 responses so far ↓
There are no comments yet...Kick things off by filling out the form below.
You must be logged in to post a comment.