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Economy: Bonus Boondoggle #921437

CNN Evening News for Wednesday, Feb 11, 2009
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[New York attorney general Andrew CUOMO - questions paying performance bonuses at Merrill Lynch.]

(Studio: Anderson Cooper) Report introduced.

(Washington: Joe Johns) Allegations that Merrill Lynch gave big-money bonuses while taking federal money examined; details given about the 3.6 billion in bonuses paid just before the Bank of America merger. [CUOMO - says it is wrong.] [Before Congress, Bank of America CEO Ken LEWIS†- says we had no authority about the bonuses.] Audio from MorganStanley conference call about "retention awards" from co-president James Gorman† played. The bidding war among financial firms noted.

Cooper, Anderson;
Johns, Joe

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