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NY Attorney General Subpoenas Thain

Started by stevejhx
almost 17 years ago
Posts: 12656
Member since: Feb 2008
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New York Attorney General Andrew Cuomo has subpoenaed former Merrill Lynch CEO John Thain for his testimony on circumstances surrounding the $4 billion paid in bonuses to Merrill executives in December, according to sources familiar with the situation. Cuomo's office is focusing on allegations that the timetable for the bonus approval was accelerated given the $15 billion fourth quarter loss at Merrill, sources said. http://www.cnbc.com/id/28874416 No more corporate jets, subpoenas over sneaky bonuses. What's an investment banker to do?
Response by type3secretion
almost 17 years ago
Posts: 281
Member since: Jun 2008

we'll see what Cuomo actually does about it. I wouldn't bet on too much.

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Response by papavaf
almost 17 years ago
Posts: 33
Member since: Jun 2008

>what's an investment banker to do?

Get an honest job, that's what. A job where you contribute something tangible to society other than "wealth creation" (translation: wealth creation for the banker, eventually vast financial loss for everyone else). The sense of entitlement (coupled to cluelessness) in the financial community is astounding. Do these folks remember what happened to Marie Antoinette after the "let them eat cake" years? We are getting there.

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Response by stevejhx
almost 17 years ago
Posts: 12656
Member since: Feb 2008

The SEC is in on it, too.

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Response by alanhart
almost 17 years ago
Posts: 12397
Member since: Feb 2007

That sleaze Andrew Cuomo is just trying to get any foothold he can on the political cliff. I'm glad he wasn't anointed Senator. I still haven't heard what his role was vis a vis the HUD scandal when he headed up the department.

Oh what I wouldn't do to have Mario Cuomo back in office. He's the joint.

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Response by w67thstreet
almost 17 years ago
Posts: 9003
Member since: Dec 2008

:) I just hope Andrew Cuomo doesn't get busted for taking money from I-Banks or ends up in lights at a hooker fest in Jersey City :)

Stevie... Ken not looking so bright :) Apparently GM''s Jack Wagoner is spending $5MM redoing his office to be more austere in light of Thain's lashing... after just having spent $3MM redoing his office and spending another $5MM put a commode in his Learjet :)

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Response by waverly
almost 17 years ago
Posts: 1638
Member since: Jul 2008

Ken Lewis is out before the clocks change.

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Response by Admiral
almost 17 years ago
Posts: 393
Member since: Aug 2008

Andy Cuomo looking to keep his name in the headlines, that's all. Every free headline is $100K less he needs to raise and spend on "name recognition" in his campaign for Gov. And, he'll get sympathy since everyone knows he was 5X more qualified to be Senator than that bimbo Patterson appointed.

Personally, I think Homer (my nickname for NY's blind poet Governor) is TOAST.

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Response by alanhart
almost 17 years ago
Posts: 12397
Member since: Feb 2007

I think virtually nobody is upset about Paterson's appointment beside the media and political insiders.

And I have no reason to believe that Senator Whateverhernameis is a bimbo, plus I don't see why there should have been any expectation that Kennedy or Cuomo would get the appointment.

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Response by kgg
almost 17 years ago
Posts: 404
Member since: Nov 2007

Who cares what Cuomos motives are as long as the Thains of this world suffer. Go get them Andy!

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