So what else is new? A former top executive at Merrill Lynch received a $25 million golden parachute after just three months work. He used that booty to purchase a $37 million Park Avenue palace.
Peter Kraus, 55, is one of many “poster boys” for the wretched greed, excess and irresponsibility of America’s financial institutions that helped drive them into the ground and kick off a global recession. After just a few days in the office, Kraus received the $25 million severance package when Bank of America bought Merrill Lynch for $50 billion during the market meltdown.
Kraus’ new 15-room apartment includes three maid’s rooms, a mahogany-paneled library, squash court and a gym.
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