Big bonuses at Bank of America?

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We've noted the dicey situation Goldman Sachs (GS) is in regarding bonus payments for 2009, which are going to be huge. Other banks face similar issues on a smaller scale. Bank of America (BAC) for example will likely be paying out some pretty big bonuses to investment bankers, reports Bloomberg.

A spokesman for the bank pointed out to the news service that the overall pool will not be a record. But the bank's bold move to repay its TARP debt hasn't really given it cart blanche on bonuses. Kenneth Feinberg, pay czar, has a say over the top executives. The New York Fed has a big stick to wield when it comes to the next level down. And there are always media concerns to be thought through. So the bank will likely have to lay the PR groundwork well if it wants to make big payouts. I'd expect some news about clawbacks and all-stock bonuses and the like. 

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