According to the New York Times:
"For nearly 700 lucky Merrill Lynch employees, 2008 was a million-dollar year, even though the brokerage firm lost $27 billion.
“Merrill chose to make millionaires out of a select group of 700 employees,” Mr. Cuomo wrote in the letter, which was sent to the House Financial Services Committee on Tuesday night.
Mr. Cuomo has homed in on the payments made to executives by banks that have received more than $350 billion from the federal government. That banks have collectively lost hundreds of billions of dollars has only fueled public scorn.
If that $3.6 billion had been evenly disbursed among Merrill’s work force each person would have received about $91,000. Instead, the top four bonus recipients received a total of $121 million, Mr. Cuomo wrote."
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