NY AG Cuomo To Make Statement Monday On Banker Bonuses
Well now you've done it Lloyd - the New York Attorney General has just gotten involved in banker bonus deliberations.
From Dow Jones:
New York Attorney General Andrew Cuomo is expected to make an announcement Monday concerning Wall Street's 2009 year-end bonus plans.
According to a press advisory, the attorney general will discuss the upcoming Wall Street bonus season on a conference call with reporters at 12 noon, EST, Monday.
Wall Street firms, which are facing criticism over potential record payouts while the U.S. economy continues to struggle, are expected to begin awarding 2009 bonuses to employees in the coming weeks.
The Wall Street Journal reported Monday that banks and securities firms have told their employees to expect a higher percentage of their year-end bonuses to be comprised of stock, rather than cash.