Yanks Spank Banks!

Following the massive row in the States over Merrill Lynch and AIG bonus payments, the House of Representatives speedily passed a Bill allowing the US government to tax bailed out firms bonuses to the tune of 90%. Sweet!

Although the legislation has yet to pass through the Senate, it does show America’s resolve in clamping down on unethical payments to incompetent bankers.

New York Attorney General Andrew Cuomo has received information from AIG (who have cooperated with the courts) in relation to high earning employees and bonus payments made to them last December.

Cuomo is currrently investigating bonus payments made to Merrill Lynch executives.

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