Morgan Stanley CEO John Mack Rejects Year-End Bonus

One of Wall Street's most powerful CEOs is rejecting his year-end bonus for the third time in a row, according to an internal memo obtained by ABC News. Outgoing Morgan Stanley CEO John Mack asked the bank's board to withhold his bonus, citing "the extraordinary financial support governments provided to our industry," he wrote in the memo sent today to all Morgan Stanley employees. Morgan Stanley received $10 billion in funds from the government's Troubled Asset Relief Program last year. The...Full Story
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