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March 5, 2009

Merrill Lynch Execs Subpoenaed in Bonuses Probe
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Here in New York, State Attorney General Andrew Cuomo has subpoenaed
several top Merrill Lynch executives who were each paid more than $10
million in cash and stock last year. Overall, Merrill Lynch handed out
over $3 billion in bonuses just before the company sold to Bank of
America in a government-backed deal. The bonuses were handed out despite
a $27.6 billion company loss on the year. Cuomo is investigating whether
the payments violated securities laws.



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