Wednesday, March 18, 2009

Merrill Bonus Recipients To Be Named Publicly

Judge Bernard Fried took one hard look at Ken Lewis' inane "bonuses are trade secrets" argument and had a laughter induced hernia. Look for some seriously good real estate deals in Manhattan in the next few weeks. Bloomerg has more.
“The Martin Act vests in the Attorney General the discretion to decide whether to keep the information that he gathers in the course of his investigation secret or public,” Fried wrote in a 16-page decision, referring to a New York securities law. Bank of America, he said, has no “privacy interest that undermines that statutory discretion.”

Scott Silvestri, a spokesman for Bank of America, had no immediate comment.

Alex Detrick, a spokesman for Cuomo, did not respond to a request for comment on when it might make the names public.

Full Fried ruling below:

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Anonymous said...

oh God this is going to be so awesome

Thomas said...

Let the shareholders and employees see how these people paid themselves while running the company into the ground.