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What is striking about Mr. Cuomo’s findings is how much money went to how few people. Merrill employs some 39,000 people, and if the $3.6 billion bonus pool had been split evenly the average bonus would have been $91,000, Mr. Cuomo said.
Cuomo Cites Big Bonuses for Many at Merrill - NYTimes.com
Oh but competition produces excellence. Or does it in this case? Competition for bonuses did not create excellence in the financial services business. What creates excellence in general is a shared culture of excellence enforced from the top down.
