Bank of America and then-CEO Ken Lewis misled investors about the risks of acquiring Merrill Lynch, alleges a civil suit filed Thursday by New York's attorney general. The bank and the SEC, meanwhile, offer a $150 million settlement for investors over the Merrill Lynch episode.
NBC's $40 million severance to Conan O'Brien is worth 15 lifetimes of work for the average American. But it's no lollapalooza on Wall Street.
The Treasury Department is ordering pay cuts for top executives at the seven big companies that have yet to pay back government bailout cash. The US public has balked as such firms have handed out huge bonuses.
The Senate is likely to confirm him, but not without asking things like 'How soon will you raise interest rates?'
In Thursday's hearing, they pointed to the Bank of America-Merrill Lynch merger as evidence of a system that had spun out of control.
Or did the bank's CEO engage in an 'old-fashioned shake down' in seeking a government bailout?
Some firms, including Morgan Stanley, race to prove they can fund themselves by turning to private investors.
If you want a revolution, hold corporate elites accountable.