Bank of America has been ordered by New York State Supreme Court Judge Bernard Fried to reveal the names of the executives at Merrill Lynch who received huge last-minute bonuses right before the company merged with Bank of America.
So here's how the story goes. Right before the merger was going to happen, Merrill Lynch awarded some of its top executives a large amount of money (read: bonus). After this took place, New York's Attorney General Andrew Cuomo took Bank of America to court in order to demand that they release information regarding these bonuses. Fried thus eventually decided that as New York's Attorney General, Cuomo had "authority to decide whether the information he gathers as part of his investigation should be kept secret or public."
But what do you think this means? Do you think this case is important enough to set a precedent regarding these bonuses? And do you think this will also be applied to the recent AIG-bonus-controversy?
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