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March 4, 2009

Merrill Lynch Paid $10M Bonuses to Top Execs
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Meanwhile, the Wall Street Journal has revealed new details on the high
bonus payments to top employees at the bailed-out firm Merrill Lynch.
Despite posting a net loss of $27.6 billion, eleven top executives were
paid more than $10 million in cash and stock. Taken together, the ten
highest-paid employees were paid $8 million more in 2008 than in 2007.
Another 149 employees received at least $3 million. Overall, Merrill
Lynch paid out over $3 billion in bonuses just before the company was
sold to Bank of America in a government-backed deal.



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