Tuesday, October 28, 2008

You can't make this sh--, er... stuff up

Depsite "rescue":

  • SAN FRANCISCO (MarketWatch) -- Merrill Lynch & Co. (MER:Merrill Lynch & Co., Inc MER 15.21, -0.65, -4.1%) said Monday its board declared a quarterly dividend of 35 cents, unchanged from the previous quarter. The dividend will be paid Dec. 3 to shareholders of record on Nov. 13.

I always wanted my tax dollars to go to Merrill shareholders, you?

  • Oct. 27 (Bloomberg) -- Five straight quarters of losses and a 70 percent slide in its stock this year haven't stopped Merrill Lynch & Co. from allocating about $6.7 billion to pay bonuses.

Some people clearly weren't involved in creating the troubles, so it's hard to be against all bonus payments, but one guesses that the bulk of the money isn't trickling to ... the rank-and-file.

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