Battle Over Bonuses: Govt. Says Bank of America Threatens to Sue Employee Willing to Talk

[babylonsister]

Battle Over Bonuses: Govt. Says Bank of America Threatens to Sue Employee Willing to Talk
Bank Wants Bonus Figures Kept Confidential, NY AG Fights for Public Disclosure
By RICHARD ESPOSITO
March 6, 2009


The battle for bonus figures in the New York State investigation into the merger of Merrill Lynch and Bank of America got even uglier today, with the bank "threatening to sue" a former employee who was willing to unconditionally tell the state's attorney general which Merrill high-fliers received the thickest slices of a $3.6 billion bonus pie that was dished out on the eve of the January merger, state officials said Friday.

This latest public chapter came as New York Attorney General Andrew Cuomo's office replied to court documents filed Thursday by Bank of America that urged that the information remain confidential and that the confidentiality extend beyond former Merrill CEO John Thain's testimony to include statements from other executives, at least four of whom have already testified.

Fresh testimony given Thursday by former Merrill executive Gregory Fleming prompted the alleged threat to sue, Cuomo's office said.

Bank of America would not comment on specifics but said in a statement, "Bank of America has continually offered to provide the information the attorney general is seeking if he would agree to an appropriate confidentiality agreement. He has continually declined."

more...

http://abcnews.go.com/Blotter/story?id=7026436&page=1

[Spinzonner]

1. That's OK

Give us the money back and take it out of the corporate dividend