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
Report: Amber Heard and Johnny Depp Divorce
Anne Hathaway Calls James Corden the ‘Worst British Export Since Smallpox,’ Drops the Mic on The Late Late Show
We Probably Won’t Have True Detective to Kick Around Anymore (But We’ll Still Have Nic Pizzolatto)
The Real Housewives of New York City Recap: Talk of Shame
Report: Amber Heard and Johnny Depp Divorce
The Sad State of Game of Thrones’ Direwolves
Why Is Hillary Clinton Suddenly Tied in the Polls With a Widely Reviled Demagogue?
America Has Never Been So Ripe for Tyranny
The Americans Recap: One Tough Mother
In Defense of True Detective Season Two
Latest News from Daily IntelligencerBernie Sanders, Donald Trump Say They’ll Debate. Here’s Why It Could Happen.
A convergence of interests between the GOP nominee and the Democratic runner-up.Explaining Ben Shapiro’s Messy, Ethnic-Slur-Laden Breakup With Breitbart
“If you insult the stubby fingers and Cheeto face of their orange god-king, then they lose their minds. They absolutely lose it.”Several Arrests Made After Protesters Clash With Police at Anaheim Trump Rally
At least eight people were taken into custody.Fresh Intelligence: South Carolina Signs Restrictive Abortion Bill Into Law, While 11 Other States Sue the White House
Our roundup of the stories, ideas, and memes you’ll be talking about today.11 States Sue Obama Administration Over Guidelines Protecting Transgender Students
The suit calls Obama's policy a "massive social experiment" and objects to his interpretation of Title IX.Bernie’s Independent Voters Are Very Likely to Cast Ballots for HRC in the End
Sanders's appeal in the primaries has not been for swing-voting "true independents," but for leaners who are functionally Democrats.Audit: Hillary Clinton’s Use of a Private Email Server Violated Federal Rules
A new State Department audit challenges several claims the Democratic front-runner has made about her use of a private email server while serving as secretary of State.Rep. Scott DesJarlais Is One of Trump’s Biggest Boosters in Congress. He’s Also a Total Piece of Work.
As Establishment pols like Paul Ryan consider climbing onto the Trump bandwagon, they'll be joining some dubious early-birds.Picking Elizabeth Warren As Veep Probably Wouldn’t Cost Democrats a Senate Seat
Contra Harry Reid.Donald Trump Is Underwater With the All-Important ‘Writers of Literary Fiction’ Demographic
More than 400 writers have signed a petition protesting the Donald’s candidacy. Will the millions of Trump voters with McSweeney's subscriptions be swayed?
Former New Mexico governor Gary Johnson could become the #NeverTrump choice, muddling the electoral map.Donald Trump Suggests America’s First Latina Governor Is Too Lazy to ‘Do the Job’
New Mexico governor Susana Martinez was supposed to be the future of the Republican Party. Then Donald Trump happened.Why Is Hillary Clinton Suddenly Tied in the Polls With a Widely Reviled Demagogue?
One month ago, the general election was looking like a Clinton landslide. What changed? And will it last?Fresh Intelligence: Charleston Shooter to Face Death Penalty, While Ferguson City Attorney to Face the Music
Our roundup of the stories, ideas, and memes you’ll be talking about today.How Running for ‘Obama’s 3rd Term’ Became a Political Asset for Hillary Clinton
Her campaign used to worry about insulating her from Barack Obama's political problems. Not anymore.U.S. Seeks Death Penalty for Dylann Roof in Charleston Church Shootings
Based on "the nature of the alleged crime and the resulting harm."Protesters at New Mexico Trump Rally Throw Rocks, Bottles at Police
At least one arrest was made.In Georgia, Two Republicans Face Primary Challenges for Not Being Extremist Enough
One — Paul Broun — called evolution "lies from the pit of hell."Trump Campaign’s New Office Plan Will Keep Paul Manafort and Corey Lewandowski Away From Each Other
Paul Manafort gets a cushy floor in Trump Tower, while Corey Lewandowski gets raw space.Why Did Bernie Sanders Put an Obama-Hater on the Democratic Platform Committee?
Tapping Cornel West raises this and other questions.