BofA’s Lewis to get nothing in ‘09
By Geert De Lombaerde Posted on October 16, 2009 at 8:27 am
Outgoing Bank of America CEO Ken Lewis will cut a $1 million check to the company to repay his year-to-date compensation. Pay czar Kenneth Feinberg “suggested” Lewis not be paid anything this year after regulatory questions surfaced about his bank’s purchase of Merrill Lynch.
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Tags: Bank of America Corp., banking, executive compensation, executive leadership, government intervention, Kenneth Feinberg, Kenneth Lewis
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Sen. Chris Dodd is the real boogyman in
this whole bonus deal. He alone put the
clause into the stimulas package that
stated”any pay or bonus arrangement made
by any institution prior to Feb 2, 2009,
shall be honored”. This per the Inspector
General testimony before a congressional
committee Wed. of last week.