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May 22, 2013
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 SEC Fines B of A $33M for Bonus BustPosted on Aug 3, 2009
It’s baffling how $33 million can seem like a relatively small sum lately, but given that it’s all that Bank of America will have to pay the Securities and Exchange Commission for failing to inform investors about the billions in bonuses the bank paid Merrill Lynch executives during B of A’s acquisition of Merrill last year, it seems more like a light knuckle-rap than a full-on spanking.
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By Fat Freddy, August 5, 2009 at 6:25 pm Link to this comment
It’s bad when an institution like a bank defrauds its customers. But it’s unheard of for any business to defraud its shareholders. There’s something really wrong here.
Report thisBy bobbycotter1, August 5, 2009 at 2:13 pm Link to this comment
FINALLY it’s about time they start doing something. I thought regulation was the first thing that would happen after the disaster of the last few years…. Yet people are still taking huge bonuses.
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Report thisBy tommy, August 4, 2009 at 7:42 am Link to this comment
(Unregistered commenter)
ooohh, $30 million. That’s gotta hurt. Such a big bite our of the $5 BILLION the crooksters at the fed and congress gave them
Report thisBy samosamo, August 4, 2009 at 5:58 am Link to this comment
Just like the analogy of cancer these banks are hell bent to kill off the host who is us and we ARE very infected by simply allowing these crooks to take our money and give it away to not just their investors but to those ‘best and brightest’ whose new jobs are to ruin the people by stealing OUR money.
Just to show this isn’t some rant about these prick’s bonuses why don’t you catch a read on this from msnbc’s Red Tape, if you don’t know about it yet:
http://redtape.msnbc.com/2009/08/in-new-hampshire-residents-pledge-to-live-free-or-die-apparently-that-even-extends-to-online-banking—-an-eagle-eye.html
Report thisBy richard roe, August 3, 2009 at 4:32 pm Link to this comment
(Unregistered commenter)
Our government has stolen our tax dollars to reward the very thieves who stole our retirement and children’s college funds. It’s called collusion.
With mechanisms like these in place how can the average American protect themselves from these thieves?
Report thisBy coloradokarl, August 3, 2009 at 3:45 pm Link to this comment
Is this the same SEC that let the Madoff thing slide for twenty years? We are going to trust THEM with $30 million? Nothing Changes If Nothing Changes….
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