House Democrats Investigating Whether Merrill Misled Congress

It is shameful to see the bonus pay that many executives have made over the last year despite a lack of performance. Yet, it is even worse for Merrill Lynch given that it lied to Congress over its distribution of bonuses last year prior to the takeover by Bank of America. How can they justify handing out over $3.6 billion in bonuses when they know they are getting taken over because of the poor job they got themselves into financially? I am glad to see that action is going to be taken in this situation because it just does not make any sense to me as to how such a thing could happen given the state of their business.