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No wonder no one wants to tell us where the bailout money is going or how much. One of the companies who benefited from it, Merrill Lynch and its CEO Peter Kraus. Yes, Peter Kraus benefited from your hard earned money.

How? Well, he was CEO of Merrill Lynch for a total of 3 months and received a $25 million bonus during that time. I think I could manage run a company into the ground in three months and I’d take a percentage of that, I’d be happy with $100,000! At that price I’m a bargain as a CEO for a failing investment bank.

So after taking the money and leaving the company, he and his wife decide to buy an apartment. A very expensive one on Park Avenue in New York. The price tag for such an apartment is nearly $37 million.

Here’s the source for this entry along with pictures and a floor plan for such a lavish apartment.

Jeremy

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