Why John Thain won't discuss bonuses

New York State Attorney General Andrew Cuomo reportedly deposed ex-Merrill Lynch CEO John Thain at length recently. But now you've got to wonder what they were talking about? Reuters reports that Cuomo, who is on the warpath regarding executive bonuses, has gone to court to compel Thain to discuss the bonuses. Thain apparently claims that he cannot discuss the matter because he was instructed not to by Bank of America CEO Ken Lewis.

Cuomo's office isn't buying it. It suggests Bank of America is "obstructing" its probe into the controversial Merrill Lynch bonuses, which were given as the ship was sinking. Cuomo recently subpoenaed Lewis; the deposition could be an explosive one.

For more:
- here's the Reuters article

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