Ding ding ding! It's another victory for Attorney General Andrew Cuomo, a.k.a. the Bonus Buster. Following in the footsteps of Goldman Sachs, AIG, and (maybe?) Citigroup, each of whom gave up bonuses for top executives this year, Morgan Stanley CEO John Mack and two other Morgan Stanley execs have "decided" to forgo their bonuses this year, the second year in a row for Mack. Whether the threatening letters they received from the A.G. this fall had anything to do with their decisions is unknown, though we feel certain Cuomo will take the credit for it. But the timing of Mack's gesture, which comes on the heels of the news that Merrill Lynch CEO John Thain is seeking $10 million for services rendered, suggests it was more about self-preservation. Thain's demand was not especially warmly received, considering that the company lost $11 billion this year and is about to embark on massive layoffs as it merges with AIG; over at the World Financial Center, employees are still picking pieces of Thain's testicles out of their hair. By giving up his bonus, Mack, who took home more than $40 million back in 2006 and doesn't need it anyway, can avoid a similar fate. He can, like the other executives, look selfless, like he's Doing the Right Thing. And he can enjoy the use of his nethers, at least until January.
Most Viewed Stories
We'll Probably Never See Queen Elizabeth II Be This Sassy Ever Again
Pop Culture Died in 2009: Gossiping With the Best Celeb Blogger on Tumblr
What’s New on Netflix: May 2016
Jimmy Fallon and Paul Rudd's Recreation of a Styx Music Video Is So Good, It Might Transport You Back To 1981
Behind Jamie and Claire’s Daybed Scene on Outlander
What You Missed At Obama’s Mic-Drop White House Correspondents' Dinner
Watch President Obama's Wonderful Correspondents’ Dinner Speech
24 Outrageous Prince Stories
You'll Probably Need Aloe Vera For All of the Burns From Larry Wilmore's Correspondents' Dinner Monologue
What’s Wrong With Game of Thrones’ Dorne Plot?
Latest News from Daily IntelligencerIndiana May Be the Definitive Victory for Trump
His nomination will probably be impossible to block should he win on Tuesday, and the Cruz campaign may finally be getting that picture.New York Rat Complaints Surge
The internet videos were just the beginning.Satanists Reject John Boehner's Conflation of Ted Cruz and Lucifer
“Christians can't just push Cruz off on Satanists.”What You Missed At Obama’s Mic-Drop White House Correspondents' Dinner
Jokes about the GOP, Trump, racism, and how old Bernie Sanders is, plus Don Lemon flipping the bird and a literal mic drop from the president of the United States.Michael Bloomberg Tells College Graduates to Go Defeat Demagogues Like Trump and Sanders
Those who won't run, teach.Kenya Lights the Largest Ivory Bonfire in History
They torched more than 100 tons of confiscated ivory and rhino horns in an attempt to discourage poaching.Protesters Breach Green Zone and Storm Parliament in Baghdad
The political unrest in Iraq appears to be intensifying.Protesters Clash With Police, Block Trump’s Motorcade Outside California GOP Convention
Demonstrators reportedly delayed the GOP front-runner.These Pigeons Are Lighting Up the Brooklyn Night Sky
It’s a project called “Fly by Night,” which sends 2,000 extremely well-trained pigeons into the night sky.United States Confirms Its First Zika Death
The victim was an elderly man in Puerto Rico.
The odds of Leicester City winning the English Premier League were 5,000-to-1.In the Shallow End of the (High-Risk) Pool
Paul Ryan hauls out a bad old idea to toss sick people into their own little health-insurance ghetto.‘What’s Delegate Allocation vs. Delegate Selection?’: A GOP Nomination-Process Guru Answers All
The road through Cleveland often seems insanely complicated. But if anybody knows the answers to the key questions, it's the University of Georgia's Josh Putnam.ISIS-Related Group Releases Hit List With Thousands of Random New Yorkers on It
The FBI is notifying everyone named.NYPD Officer Who Stomped on Man’s Head Found Guilty of Assault
Joel Edouard faces up to a year in prison.Marco Rubio Goes From #NeverTrump to Ready for Trump
How shocking to see Rubio abandon the principles he had expounded with such conviction!1,000-Foot Skyscrapers Are the Newest Status Symbol for NYC Boroughs
Within a week, Brooklyn and Queens both announce plans for their own.David Brooks Vows to Study America’s Suffering Masses
Will he move to a high-unemployment coal-mining town in West Virginia? A meth-ravaged exurb in the Inland Empire?North Korea Sentences Another American to Hard Labor
Kim Dong Chul was arrested for "spying" late last year.
"We're not using Las Vegas as a bargaining chip," he said. "This is real."