New York's Attorney General Demands Bonus Data From 8 Big Banks

New York's Attorney General Demands Bonus Data From 8 Big Banks

dealbook.blogs.nytimes.com

Andrew M. Cuomo, New York’s attorney general, took aim at Wall Street’s looming bonuses on Monday, sending letters to eight of the nation’s biggest banks demanding information on how they structured those payouts.

The banks that received letters on Monday are: Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street Bank and Wells Fargo.

“No one can disagree that transparency and disclosure is essential,” Mr. Cuomo said on a conference call with reporters.

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This seems an important attempt at transparency, but even if he does get to the actual data, he won't be able to change the facts. Hopefully it will wake some more people up and start putting some collective pressure on these white collar thugs.
Cuomo has been putting the heat on for a while. He tried the same thing in 2009 so it might be all smoke and mirrors...

dealbook.blogs.nytimes.com
(visit the link for the full news article)