08192017Headline:

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Pete Burns
Pete Burns
Attorney • (800) 574-4332

Executive Responsibility

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Let’s hear it for New York federal Judge Jed S. Rakoff who, in presiding over the settlement between the S.E.C. and Bank of America. Judge Rakoff is requiring disclosure of the identity of the individuals who failed to disclose huge bonuses that Merrill Lynch was paying on the verge of merging with BOA.

Corporations act through individuals. If it was wrong for Merrill Lynch to pay the bonuses the individuals responsible for those payments should be held accountable. For more information about Judge Rakoff and this case see http://www.nytimes.com/2009/08/24/business/24judge.html?_r=1&scp=1&sq=%2b"Supreme+Court"&st=nyt