When the history of this financial crisis is written, this story story will be a contender as a standout example of its kind. It is one of the slickest, under the table, sleight of hand deals ever.
Picture this. The financial markets are falling apart right and left. Lehman, Bear Stearns and Merrill are going down for the count. In the midst of this confusion Bank of America Corp (NYSE: BAC) is in the process of taking over Merrill Lynch. Merrill executives and employees are in a state of panic but at the last moment they regain their composure and have the audacity (word is too mild) to pay themselves $3.6 billion in bonuses just days before the BofA takeover.
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