UNDER PRESSURE

More Questions for Thain

New York Attorney General Andrew Cuomo spent 6 hours grilling former Merrill Lynch CEO John Thain last week about the bonuses he doled out on the eve of Merrill's merger with Bank of America--but that wasn't enough. Cuomo didn't get the answers he wanted and filed a motion today to get Thain to answer more of his questions. The difficulty is that Merrill used an inaccurate estimate of fourth-quarter losses to calculate $3.6 billion in bonuses that Thain gave out early, before Merrill's books closed. Thain dodged questions from Cuomo on whether accurate estimates would have reduced the bonuses, and on whose bonuses he slashed in response to the concerns of an HR manager at Bank of America.