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&lt;p&gt;A few hours ago Merrill&amp;#8217;s chief executive Johnny Thain-ted Love joined the no bonus club, as he reportedly &amp;#8220;requested&amp;#8221; that he not receive any incentive compensation this year. The &amp;#8220;request&amp;#8221; was made after several industry observers criticized Thain&amp;#8217;s appeal for $10 million (several also came to his defense, believing that he deserved a bonus, though perhaps not one as large as $10 million, for helping stave off a Bear- or Lehman-like collapse). &lt;/p&gt;&lt;p&gt;Likely&amp;nbsp;largely responsible for Thain dropping his appeal to Merrill&amp;#8217;s compensation committee was the observer with the loudest voice, New York Attorney General Andrew Cuomo, who&#39;s been conducting a Spitzer-esque investigation into compensation practices&amp;nbsp;at big banks as of late. In a letter to Merrill dated today, Cuomo called Thain&amp;#8217;s request &amp;#8220;oxymoronic&amp;#8221; and &amp;#8220;nothing less than shocking,&amp;#8221; then signed off as always with, &quot;Very truly yours, Andrew M. Cuomo.&quot;&lt;/p&gt;

Derek Loosvelt

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