Bonus-Buster Andrew Cuomo Not Quite Done With John Thain Yet


Andrew Cuomo wasn’t taken in by John Thain’s denials of wrongdoing on CNBC yesterday, either. This morning the attorney general and renowned bonus-buster subpoenaed the former Merrill Lynch CEO as well as Bank of America Chief Administrative Officer J. Steele Alphin over bonuses paid to Merrill employees on the eve of its merger with BofA. “The fact that Merrill Lynch appears to have moved up the timetable to pay bonuses before its merger with Bank of America is troubling to say the least, and warrants further investigation,” he wrote in his inimitable way. [Alphaville/FT]