Law360, New York (July 30, 2009, 8:50 PM ET) -- Nearly a dozen banking giants, including Merrill Lynch & Co., Citigroup Inc. and Bank of America Corp., doled out more than $32.6 billion in bonuses in 2008 while at the same time accepting $175 billion in taxpayer funds through the Troubled Asset Relief Program, according to a report released Thursday by New York Attorney General Andrew Cuomo.
The 22-page report analyzes the original nine U.S. banks that received TARP funding last year and concludes that even though the banks’ profits plummeted, they continued to hand out...
Top TARP Banks Paid Out $32.6B In Bonuses: Cuomo
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