December 30, 2008

I don't, as a rule, get surprised by the utter gall of these Wall Street executives, or the complete farce of how these TARP bailout funds are managed but this is a bit much.

Peter Kraus worked hard in the three months he spent at Merrill Lynch this fall — and the $25 million in bonus cash he earned for his troubles was just enough to allow him to afford to buy Carl and Barbaralee Spielvogel's apartment at 720 Park for $36.63 million, twice what they paid for it two years ago.

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