Your tax dollars at work…
A former top executive at Merrill Lynch who received a $25 million golden parachute after just three months of work has purchased a $37 million Park Avenue palace.
Peter Kraus, 55, paid the staggering sum for a five-bedroom co-op on New York’s posh Park Avenue after getting a $25 million buyout from Merrill Lynch when the company was sold to Bank of America in September, the New York Post reported.
Maybe this will help underscore why people want there to be oversight and an accounting of the bailout money.
Quote from - Banker Buys $37 Million Apartment After Getting $25 Million in Bailout Buyout
Filed under: Economy, Independent | Tagged: bailout money, bailout oversight, golden parachute, merrill lynch, park avenue