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A report today in The New York Post reveals that bailed-out Bank of America (NYSE: BAC) is still doling out millions in bonuses to attract and retain top banking talent. Bank of America is catching heat over the bonus payouts, since it hasn't yet received federal clearance to repay its $45 billion in TARP loans.

Bank of America allegedly shelled out $15 million over two years to keep Fares Noujaim, an alumnus of both Bear Stearns and Merrill Lynch, who now serves as the company's vice chairman of investment banking. Harry McMahon is named as another banker who's been enticed to stay with handsome bonuses.

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Bank of America accused of shelling out big bonuses to bankers originally appeared on BloggingStocks on Thu, 18 Jun 2009 14:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bailoutBank of AmericaBarney FrankbonusFares NoujaimfeaturedHarry McMahoninthenewsKenneth LewisoptionsTARPThu, 18 Jun 2009 14:30:00 EST