merrill

Merrill’s attempt to align its top employees’ pay with the company’s long-term performance did not keep executives from risking the bank’s stability.

Andrew M. Cuomo wants to know if Bank of America directors were misled or “little more than rubber stamps” for management.

The judge has refused to sign off on Bank of America’s $33 million settlement with the Securities and Exchange Commission.

A $33 million payment to S.E.C. is called a “tiny, tiny fraction” of the $5.8 bonuses paid to Merrill executives.

The bank settled the charges of making false statements to investors without admitting or denying the allegations.

Lawmakers, especially Republicans, have been critical of the Fed chairman’s role in Bank of America’s takeover.

Kenneth D. Lewis, Bank of America’s chief, testified he was told to keep quiet about the deal’s terms, even after it was clear his bank stood to absorb much bigger losses from Merrill than expected.

Most of the Merrill bonuses, which included some 700 awards of over $1 million, would not be affected by a new bonus tax being considered in Congress.

The attorney general says John Thain must answer more questions about the $3.6 billion in bonuses in order to comply with a subpoena.