New York Attorney General Hits Banks on Executive Pay

New York Attorney General Andrew Cuomo says nine financial services firms must provide "detailed accounting" of expected bonus payments to top management. In a letter sent today to the banks' boards of directors, Cuomo requested "any and all information" concerning the firm's expected 2008 bonus pool both before and after they learned that they would be receiving taxpayer funds. Click here to see the letter to Morgan Stanley. The banks, including Bank of America, Bank of New York Mellon,...Full Story