From left, former Merrill Lynch Chief Executive Officer E. Stanley O'Neal, John Finnegan, Chair of Management Development and Compensation Committee for Merrill Lynch, and Angelo Mozilo, founder and former chief executive officer of Countrywide Financial Corporation, arrive on Capitol Hill in Washington, Wednesday, June 10, 2009, to testify before the House Oversight and Government Reform hearing examining the compensation and retirement packages granted to the CEOs of corporations deeply involved in the current mortgage crisis. AP Photo logo AP Photo 5 months ago

From left, former Merrill Lynch Chief Executive Officer E. Stanley O'Neal, John Finnegan, Chair of Management Development and Compensation Committee for Merrill Lynch, and Angelo Mozilo, founder and former chief executive officer of Countrywide Financial Corporation, arrive on Capitol Hill in Washington, Wednesday, June 10, 2009, to testify before the House Oversight and Government Reform hearing examining the compensation and retirement packages granted to the CEOs of corporations deeply involved in the current mortgage crisis.

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  1. James Gorman, head of Merrill Lynch's brokerage business, speaks to reporters during the second annual Reuters Finance Summit in New York in this November 13, 2003 file photo. Morgan Stanley announced September 10, 2009 that Gorman, now one of the investment bank's co-presidents, will replace Morgan Stanley Chief Executive John Mack, who is stepping down.
  2. James Gorman, head of Merrill Lynch's brokerage business, speaks to reporters during the second annual Reuters Finance Summit in New York in this November 13, 2003 file photo. Morgan Stanley announced September 10, 2009 that Gorman, now one of the investment bank's co-presidents, will replace Morgan Stanley Chief Executive John Mack, who is stepping down.
  3. James Gorman, head of Merrill Lynch's brokerage business, speaks to reporters during the second annual Reuters Finance Summit in New York in this November 13, 2003 file photo. Morgan Stanley announced September 10, 2009 that Gorman, now one of the investment bank's co-presidents, will replace Morgan Stanley Chief Executive John Mack, who is stepping down.
  4. U.S. Federal Reserve Chairman Ben Bernanke (R) and former Treasury Secretary Henry Paulson testify at the House Financial Services Committee hearing on "Oversight of Implementation of the Emergency Economic Stabilization Act of 2008 and of Government Lending and Insurance Facilities; Impact on Economy and Credit Availability" on Capitol Hill in Washington in this November 18, 2008 file photo. In September 2008, a turbulent month that saw the fall or near-death experience of industry giants like Fannie Mae, Freddie Mac, AIG, Merrill Lynch and Lehman Brothers, Paulson met with Bernanke numerous times. At the time, Bernanke eagerly backed a proposal by Paulson that was widely criticized for being way too thin on details, weighing in at a mere three pages -- and with nary a mention of Wall Street pay.
  5. A customer uses a First Republic Bank ATM in Palo Alto, Calif., Wednesday, Oct. 21, 2009. Bank of America Corp. has agreed to sell First Republic Bank, a private bank it inherited from Merrill Lynch & Co., to a group of investors for more than $1 billion, according to a report Wednesday by The Wall Street Journal.
  6. A First Republic Bank in Palo Alto, Calif. is shown Wednesday, Oct. 21, 2009. Bank of America Corp. has agreed to sell First Republic Bank, a private bank it inherited from Merrill Lynch & Co., to a group of investors for more than $1 billion, according to a report Wednesday by The Wall Street Journal.
  7. A customer uses a Bank of America ATM machine in Oakton, Virginia October 16, 2009. Bank of America Corp posted a wider-than-expected third-quarter loss as improvement in its Merrill Lynch investment banking unit failed to offset consumer credit woes, sending its shares down 4.5 percent.
  8. A sign for the Bank of America is seen outside a branch in Vienna, Virginia October 16, 2009. Bank of America Corp posted a wider-than-expected third-quarter loss as improvement in its Merrill Lynch investment banking unit failed to offset consumer credit woes, sending its shares down 4.5 percent.

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  8. A North Korean soldier, left, stands guard as a South Korean soldier looks at the Truce Village of Panmunjom in the demilitarized zone that separates the two Koreas since the Korean War, north of Seoul, South Korea, Tuesday, Nov. 10, 2009. Navy ships of the two Koreas exchanged fire Tuesday along their disputed western sea border, South Korean military officers said.
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